McEwen Mining Provides 2022 Guidance
March 10, 2022
We are estimating production of 153,000 to 172,000 gold equivalent ounces (GEOs) in 2022.
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We are estimating production of 153,000 to 172,000 gold equivalent ounces (GEOs) in 2022.
Oroco Resource Corp. is pleased to announce a private placement for gross proceeds of up to $13,600,000 from the sale of up to 8,000,000 units of the Company at a price of $1.70 per Unit.
Senor Miguel Angel Romero Gonzalez joins our Mexican group to advise the Company on tenure and legal issues. Señor Romero is a prominent lawyer with the mining industry in Mexico, a former General Director of Mines in the Ministry of Economy from 2010 to March 2013, within that period he coordinated the efforts to update the Regulations of the Mining Law and collaborated to make public the mining cartography of the country.
“2021 marked another strong year for Endeavour Silver. Our two producing mines – Guanaceví and Bolañitos – generated significant operating cash flow that we are using to extend mine lives and fund future growth,” stated Dan Dickson, CEO of Endeavour Silver.
“One of the most significant drivers to this quarters profitability was the start of initial production from the new Ermitaño mine at Santa Elena which reduced Santa Elena’s overall AISC by 34% to $14.02 per silver equivalent ounce compared to the prior quarter. Furthermore, we anticipate this trend in cost reductions to continue as higher grades and throughputs are achieved at Ermitaño throughout 2022 and 2023.”
“Copala continues to grow rapidly with very high grades and impressive widths over a large area,” commented Michael Konnert, President, and CEO. “This recently discovered near-surface, shallow dipping structure has now been traced over 650 meters in length, 350 meters downdip, and remains open in all directions.”
“The additional holes from the Phase I drilling program continue to yield impressive copper and gold intercepts. The step out hole on the western flank of Cerro Verde has extended mineralization to the west and the SJ21-36 confirms that the copper zone extends to the south. Additionally, the oxide gold zone was extended to the south by SJ21-31, which encountered a very encouraging oxide gold intercept.”
J. Duane Poliquin, Chairman of Azucar, stated “It is very exciting to get the drill turning on this large newly defined area of alteration where so many different methods of targeting indicate a possible central and significant porphyry system. We look forward to providing updates once drilling commences.”
The Company intends to use the net proceeds from the Offering for exploration activities, working capital requirements and other general corporate purposes.
Just over 10 years ago drilling at La Potosina identified near surface structure similar to the San Gonzalo Vein and was continuous for 300 metres and had a vertical extension of 1,000 metres. A recent surface rights agreement was reached in early 2021 with the local landowner and as a result this area has become a high priority for Avino.
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