Tag: Exploration and Development

Candente Gold Corp. is pleased to announce that its Mexican subsidiary, Minera CCM El Oro Jales S.A. de CV has renewed the option, originally signed in 2013, allowing the Re-Processing of the tailings deposit derived from the Mexico Mine, part of the San Rafael Vein in the El Oro District. The agreement is with the Municipality of El Oro in the state of Mexico.

J. Duane Poliquin, Chairman of Almadex commented, “We are pleased to once again demonstrate continuity in this part of the defined mineralised envelope. The Norte Zone is one of several defined porphyry targets on the property which we plan to aggressively explore and, in the case of Norte, drill in detail with the goal of defining a resource.”

Indicated Resources – 661,000 Gold Equivalent Ounces
Inferred Resources – 341,000 Gold Equivalent Ounces

Allan Barry Laboucan, President and CEO of Advance said; “We have been able to position ourselves in a silver project that remains open for exploration, in one of the most prolific silver districts worldwide. In fact, we share the same geological structure as several important Mexican mines. Our vending partners, who will become significant shareholders in the company, will retain an NSR and will help us develop the Tabasquena project as they bring local knowledge and experience needed for permitting, community relations and geological understanding. Our vending partners are key to rapidly advancing the Tabasquena project. Our small share float and timing to acquire this silver project with precious metal prices performing well, has us well positioned for growth.”

At the request of IIROC the Company wishes to clarify disclosure in its September 8, 2017 news release issued earlier today entitled “MX Gold Corp Receives 1,000 Tonne Per Day Throughput Estimates on the Magistral Project” . The disclosure of estimated tonnage, estimated gold/tonne, estimated silver / tonne, recovery rate gold; recovery rate silver, commercial production, free cash flow, life of project and total free cash flow was a violation of NI 43-101 – Standards of Disclosure of Mineral Projects as no preliminary economic assessment, preliminary feasibility study or feasibility study has been filed to support any of the disclosure. The disclosure constitutes Restricted Disclosure per NI 43-101, 2.3. Also, NI 43-101, 4.2 requires the filing of a technical report to support disclosure of this nature – no technical report has been filed to support the disclosure. As a result the disclosure is not compliant with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The Company hereby retracts the entirety of the Prior Release and readers should not rely on the disclosure contained in the Prior Release, including the following statements and table disclosing the technical results and project economics:

“Drilling supports the Santa Rosa vein along every section line drilled within a mineralized corridor over a strike length of 430 meters which is open in both directions (northeast and southwest) and at depth. We have detected high to bonanza grade silver with high grades of gold and accessory zinc and lead mineralization within the corridor across widths of up to 4.3 meters within the Santa Rosa Vein. We have discovered a new vein with high grade silver and gold values,” stated Hub Mockler (BSc Geology), Executive Chairman.

Dan Omeniuk MX Gold Corp. Chairman and CEO said: “MX Gold due diligence work to date has provided us with results very similar to if not slightly better than previous studies” thereby giving us greater confidence in the project as we move towards production.

“Based on confidence gained in several consecutive, annual underground drilling campaigns on the Mala Noche Footwall Zone, we recently added two surface rigs to step up the pace of exploration and facilitate better long-range planning. Our furthest step-out hole to date intercepted strong copper mineralization 580 metres along strike to the southeast from the limits of the current MNFWZ Indicated Mineral Resource,” said Brad Mercer, Capstone’s Senior Vice President, Exploration. “We encountered copper grades in excess of 4% immediately adjacent to Endeavour Silver Corp. claims over larger than average widths than typical of the MNFWZ. As a result, we have entered into an agreement with Endeavour which allows us to follow the footwall structure beyond the boundary of our concession.”

Drill hole Z17-26 intersected 834 g/t silver over 3.38 meters (true width) including 1,448 g/t silver over 1.26 meters (true width) at the San Felipe prospect on the El Paso Vein. The zone remains open for expansion. IMPACT mining personnel plan to access the old San Felipe Mine workings to establish underground drill stations to continue testing the zone. The El Paso Vein is centrally located within the district, passes less than one kilometer from IMPACT’s producing 535 tonne per day Guadalupe processing plant, and represents a potential near-term source of additional high-grade feed for the plant.

“Tenemos conocimiento que para este año serán 14 millones del Fondo Minero que se aplicarán en comunidades cercanas a las operaciones mineras, esta cantidad es solamente para Fresnillo, otra para la capital zacatecana y otra más para la Federación; es una cantidad importante de recursos que aporta Minera Saucito y Minera Fresnillo para este fondo”, aseguro Jerónimo Medina.