The net proceeds from the Financing will be used for ongoing working capital requirements relating to the Rebeico gold-copper project in Sonora, Mexico.
Almaden Minerals Ltd. and its 100% owned Mexican subsidiary has learned that a lower court in Puebla State has ruled that Mexicos mineral title system is unconstitutional because consultation is not required before the granting of mineral title. The lawsuit was filed against the Mexican government regarding claims originally held by Almaden which covered a large area including the Ixtaca deposit. This ruling can be appealed by both the Government of Mexico and Almaden. The Company believes that this lawsuit is part of a broad effort by special interest groups to change the mining law and there are other similar actions active across Mexico.
The production results this quarter are reflective of the lower grades achieved, coupled with 7 days of lost production while upgrades to the crusher were being completed at the mill. The upgrades were significant to the overall operation as they will enable us to realize more consistent throughput from the crusher during the rainy season in Mexico. said David Wolfin, President and CEO. We continue to focus on profitable ounces and a considered approach to keeping costs controlled company-wide, particularly as we are experiencing lower metal prices.
Igor Gonzales, President and CEO of Sierra Metals, commented: The Company has started 2019 with solid production results despite an illegal strike action which occurred at our Yauricocha Mine. This can be attributed to in part to stronger performance from our Mexican Mines including record production at the Cusi Mine where we are reaping the benefits of operational improvement programs and the initial stage of mill expansion at both the Cusi and Bolivar Mines. The Company has also initiated scoping studies which are expected by mid-year 2019 to analyze future operational production increases and continue development at all three Mines. We are also working to update the NI 43-101 Technical Reports with an updated report expected at the end of Q2-2019 for the Yauricocha Mine, and at the end of Q4-2019 for the Bolivar and Cusi Mines.”
The net proceeds will be used primarily for funding the Salar del Diablo Lithium Property drilling program and working capital.
Fresnillo plc announces that the Nominations Committee has recommended to the board of directors of the Company, and the Board has agreed, that Mr Luis Robles be proposed for election as an independent non-executive director of the Company at the 2019 annual general meeting, which is due to be held on 21 May 2019, with his appointment to take effect from the conclusion of the AGM.
Radius Gold Inc. is pleased to announce that drilling has commenced at Radius’s high-grade gold-silver Amalia Project located in Chihuahua, Mexico. The drill program is operated by Radius and funded by Pan American Silver, under a joint venture agreement. Radius plans to follow-up on exceptional high grade results from drilling last year. Radius’s initial nine-hole drill program at Amalia intersected high-grade mineralization in the San Pedro structural zone with the last and deepest hole (AMD18-009) intersecting 26m at 7.08g/t Au and 517 g/t Ag, including 5m at 14.71 g/t Au and 1378 g/t Ag.
Silver Vipers President and CEO Steve Cope states, El Rubi is an extremely interesting area within the La Virginia project. The work we have undertaken has identified compelling targets both along trend of El Rubi drilled by Silver Viper in late 2018, and on a parallel, yet to be named trend to the east we are evaluating at the moment. Drill testing will commence in the coming weeks.
Bradford Cooke, Endeavour CEO, commented, All four mines typically start slowly each year as we commence our annual capital investments, then production improves as the mines work toward achieving their annual mine plans. At Guanacevi, the new Milache orebody is now producing 250 tonnes per day of development ore, on its way to 400 tpd by the third quarter, and the new SCS orebody is being developed for production in H2, 2019.
Fortuna Silver Mines Inc. is pleased to report production results for the first quarter of 2019 from its two operating mines in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The Company produced 2.2 million ounces of silver and 13,314 ounces of gold, plus base metal by-products. Fortuna is on schedule to produce between 8.2 – 9.0 million ounces of silver and between 49 – 54 thousand ounces of gold or between 11.7 – 12.9 million ounces Ag Eq1 in 2019, in accordance with our annual production guidance.
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