GOLDCORP INC. today announced that the Company has entered into a binding agreement with Teck Resources Limited for the sale of its 21% minority interest in the San Nicolas copper-zinc project, located in Zacatecas, Mexico, for cash consideration of US$50 million.
Two of the first three holes in the recently completed RC drilling campaign have reported material silver mineralisation near surface. Drill holes MSRC033, MSRC034 and MSRC035 were drilled at the southern end of the known Mojardina strike zone to test the southernmost identified surface expression of the system and followed diamond saw channel sampling. Grades across these first reported holes confirm the existence of strong mineralisation at the southern extent of Mojardina and are in line with or better than diamond channel grades at surface. Further interpretation work and drill planning of Mojardina South is already underway.
It is exciting to see the continued strike expansion of the Switchback vein system with these latest four drill hole results, stated Mr. Barry Devlin, Vice President of Exploration for Gold Resource Corporation. The continued high-grade polymetallic mineralization within multiple parallel veins at Switchback leads us to believe the Arista Mine is much larger than has been defined to date. Exploration plans for the Switchback vein system for the remainder of 2017 include infill drilling within the known mineralized horizon, as well as testing the northwestern strike extension of this growing epithermal vein system.
“We are encouraged with the continuing positive developments at the Membrillo Prospect.” commented Arturo Prestamo, CEO of the Company, adding “The previously announced San Rafael vein together with the main Membrillo vein should enhance the overall impact of the Membrillo Prospect on the Rosario Project. Based on these recent discoveries we will re-evaluate and study the overall geological potential of both the Membrillo Prospect and the Rosario Mine.”
Mexus Gold US announced that its JV partner, MarMar Holdings, has been working hard for the last 60 days fine tuning the leaching and recovery operation. MarMar states the replaced equipment and various adjustments although costing time and money will save both in the long run once production begins in earnest. These steps are necessary to ensure a smooth running operation and avoid down time. Metallurgists believe they have perfected the different check points to assure maximum recovery at this time. Both Mexus and MarMar believe that the start-up problems to date are normal and want all to know that everything is being done to assure great results for years to come.
N. Eric Fier, CPG, P.Eng, President and CEO, remarked, It is still early days for us at Babicanora, and high-grade mineralization is open in all directions along strike and to depth of the Babicanora Vein. We believe there is strong potential for further high grade mineralization, as we systematically expand drilling along strike, down dip and subsequently intersect other associated veins. Originally, we assumed the Babicanora Vein had been historically mined out above the Babicanora adit; therefore, our initial target was at depth. It now appears that only the soft sheared rock has been partially mined, leaving significant hard rock mineralization in place. Soft rock mining is mentioned in historic Babicanora reports dating back to the 1800s describing excavation by axe with no blasting required. Our exploration work at Babicanora includes surface and underground drilling, which is easily accessible via the four metre high by four metre wide adit that is approximately 230 metres long and was constructed in the 1860s. With continued success, we will be diligently drill testing along the projected strike length of the Babicanora trend which is now over 4 kilometres long.
GOLDCORP INC. today announced that the Company has entered an agreement with Orla Mining Limited pursuant to which it has agreed to sell its 100% interest in the Camino Rojo oxide project, located in Zacatecas, Mexico.
CEO Paul Sorbara says; Golden Goliath is extremely lucky that these important and expensive infrastructure improvements are being done at no cost to us. They lower the threshold needed for an economic project at San Timoteo. We look forward to a very successful drill program and expect the field work currently underway will generate even more good targets.
The drilling is part of a planned 6,900m program to test 3 of Prospero’s projects under the terms of the recent strategic investment from Fortuna Silver Mines Inc. Prospero is planning to drill four holes at Matorral project, followed by eight holes at its Petate project, and then by eight holes at Pachuca SE. This drilling program is under the terms of Prospero’s strategic agreement with Fortuna Silver Mines. Drill collar maps for Matorral will be available shortly on Prospero’s website.
Radius Gold Inc. is pleased to announce that it has signed a binding agreement with a private individual to option the 380-hectare Amalia Project which is host to high grade epithermal silver-gold mineralization. The Project is located approximately 25 km SW of the historic Guadalupe y Calvo mining district in Chihuahua, Mexico. During due diligence evaluation Radius geologists sampled bonanza grade outcrop containing 20.4 g/t Au and 5360 g/t Ag from a 1.2m chip.
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