As reported on May 11 and July 3, 2012, the Company’s public disclosures on mineral resource estimates regarding the Company’s Avino property in Durango, Mexico, have been under review by the British Columbia Securities Commission.
Timmins Gold Corp. announces that it has started an initial 5,000 metre core drill program at its San Onesimo project in Zacatecas, Mexico. The San Onesimo project consists of 5 claims covering a surface of approximately 6,400 ha. The project is in a prolific mining district and is located 16 km to the northeast of Goldcorp’s Camino Rojo project and 80 km southeast of Goldcorp’s Penasquito mine.
San Marco Resources Inc. has completed the first tranche of its non-brokered $700,000 private placement of units announced June 20, 2012 by selling 3,060,000 units at $0.10 per unit for gross proceeds of $306,000. The proceeds of the placement will be used for continued drill target definition on San Marco’s 100% owned Los Carlos II gold-silver property, drill target identification on its recently acquired Angeles property, and general working capital.
As Mexican authorities crack down on drug trafficking, criminal gangs are increasingly moving into the illicit trade in minerals, with some even operating their own mines and selling the resources to international corporations.
Endeavour Silver Corp. released today its updated NI 43-101 reserve and resource estimates to June 1, 2012 for its newly acquired El Cubo Mine, which comprises the southeastern part of the Guanajuato mining district located in Guanajuato State, Mexico.
SilverCrest Mines Inc. is pleased to announce the results of an additional 11 holes of the Phase II drill program currently underway at its La Joya Property in Durango, Mexico. The Phase II program is comprised of 80 holes totaling approximately 15,000 metres. Phase II drilling reported to date has extended the Main Mineralized Trend beyond the area containing the current Inferred Resource of 101.9 million ounces Ag Eq.
Source Exploration Corp. is pleased to announce its 2012 work program for the Las Minas gold-silver-copper project located at Veracruz, State, Mexico. The program will include 2,000 metres of diamond drilling to expand upon and infill the higher-grade portion of the host skarn intrusion identified in Phase 2 drilling. A drilling contract has been awarded to Grupo Drilcor S.A. de C.V. and drilling is scheduled to get underway in mid-August. In addition, continued prospecting and sampling will be carried out to test for extensions of existing mineralization and identification of new gold, silver and copper mineralization at Las Minas, La Miquitta and La Luz concessions as well as the newly acquired San Valentin concession – see press release dated June 26, 2012.
Excellon Resources Inc. reports that on Monday, July 9th, members of the Edijo de La Sierrita, assisted by the NGO group PRODESC and Sindicato Nacional de Trabajadores Mineros Metalúrgicos, Siderúrgicos y Similares de la República Mexicana which is affiliated with the United Steelworkers Union of Canada (USW) commenced an illegal action at the Company’s La Platosa Mine, located in Durango Mexico.
AuRico Gold Inc. announced today that René Marion, President, Chief Executive Officer and Director has tendered his resignation for health reasons effective September 3, 2012 and that Scott Perry has been appointed President and Chief Executive Officer. Russell Tremayne and Peter MacPhail will remain as the Chief Operating Officers of Mexico and Canada respectively. Mr. Colin Benner has been appointed as Executive Chairman and will work with the management team through the transition period.
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