Guanajuato Silver Company Ltd. announces the filing of a National Instrument 43-101 Technical Report for a new mineral resource estimate for Guanajuato Silver’s 100% owned San Ignacio mine located in Guanajuato, Mexico.
The new name better reflects the Company’s strategic goal to become a Latin American focused silver producer at the recently acquired La Parrilla Project and at the San Diego Project, both located in Durango, Mexico.
Gregory K. Liller states, “I am extremely pleased with the results of the new mineral resource estimation. This study validates our belief that La Guitarra has a significantly overlooked resource base. Since April, our staff has been working on validating the project-wide database, incorporating historical data, auditing the previously mined areas, and refining the geologic interpretation of the vein and models. The next step to re-opening the Guitarra mine will be a Mine and Restart Plan due in the first quarter of 2024; consisting of a capital and operating cost study, the results of which will be used to evaluate the economic potential of the mine.”
“In the third quarter, we saw strong production and cash flows from our Mexican operations as San Dimas and Santa Elena saw significant head grade improvements,” stated President and CEO, Keith Neumeyer.
Scott Emerson, President, commented: “These results, together with the previously announced assays from Soledad SE, indicate the presence of significant silver mineralization over a distance of approximately 1.6 kilometers of the Soledad structure.”
Greg McKenzie, President and CEO commented: “Within a week of acquiring La Parrilla our team successfully commenced underground drilling and we are proud to report our inaugural drill results from this world class silver project. Over a few weeks we were able to utilize the existing mining fleet and personnel to restore services and broaden access to additional drill sites. We expect this will continue throughout the remainder of 2023. The results reported today are within immediate proximity to development, ventilation, power, and other services that will support restart of operations at the appropriate time.”
Michael Tucker, lead geologist and director states, “The continued ability of the lower breccia zone to produce highly elevated gold grades over significant widths is very compelling. The system has proven the ability to generate spectacular grades and thicknesses. The indications of a large magmatic-hydrothermal system are present, and we are excited to continue expanding on these exceptional results as they clearly demonstrate there is a big system to be explored .”
“These transformational transactions enable our vision to create a leading diversified metals royalty and streaming company focused on acquiring and managing royalties on financially viable operations across a diverse range of commodities, located in mining friendly jurisdictions and managed by strong operators,” commented John Armstrong, CEO of Sandbox Royalties.
Silver Bull Resources, Inc. is pleased to announce that, further to its news release of October 16, 2023, subject to approval of the Toronto Stock Exchange, it has closed its non‑brokered private placement, issuing a fully subscribed 11,685,000 units at a price of C$0.11 per Unit, for aggregate gross proceeds of $1,285,350.
The drill program has been optimized to focus on expanding the California zone oxide mineralization, which remains open laterally in every direction, with a minimum 11 holes and 1,600m of RC drilling in this current stage of exploration. The California zone porphyry target has a footprint of over 1 km x 1km exposed to date.
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