Tag: Exploration and Development

The Company is pleased to announce that drilling of the Company’s La Reforma property is about to commence. La Reforma is one of the seven properties that the Company has under option to Desarrollos Mineros El Aguila, S.A. de C.V., a wholly owned subsidiary of Fresnillo PLC in the Uruachic Mining District in Chihuahua State, Mexico. After completing field work during 2016, the Company has been advised by El Aguila that they will commence drilling on this property shortly.

James McDonald, President and CEO stated “We are very encouraged with the consistency of results from our initial drilling on the Soledad structure and its potential to yield future discoveries along its 2 kilometer strike length. These results, combined with the success of the previous 11 holes of the phase I drill program that identified an entirely new silver discovery within a 400 meter strike length on the nearby RAM structure, reinforces our belief that La Cigarra and its surrounding mineralized structures offer significant development potential to add to our future silver resources.”

“Recent drilling results confirm our ability to discover additional high-grade manto mineralization both near surface and around our existing resource,” stated Ben Pullinger, Vice-President, Geology. “The discovery of a connector zone between the Guadalupe North and 6A Mantos is very encouraging and provides more flexibility in our mine plans and allows us to open up new headings closer to surface.”

“We are thrilled to add another 75 meters on strike of high-grade veins at our Switchback vein system,” stated Mr. Jason Reid, President and CEO of Gold Resource Corporation. “Hole 516150 represents over 275 meters of vein system strike expansion since the first of the year, an increase in strike of over 90% since January 1, 2017. As I have referenced in the past, the discovery outcrop of the Switchback structure is evident in a ridge now over 200 additional meters further on strike to the northwest from this new intercept in drill Hole number 516150. As these high-grade mineralized veins continue to expand, they may not only extend underneath the surface expression of Switchback, but may continue further along strike as well….”

Riverside Resources Inc. is pleased to announce that the Company has signed agreements with Gunpoint Exploration Ltd. and Millrock Resources Inc. to consolidate the former company’s three La Cecilia Margarita concessions with the Violeta concession into a unified Cecilia Gold Project. The Cecilia Project, located in northeastern Sonora, Mexico, is targeting epithermal gold-silver mineralization in a rhyolite dome setting with potential for open-pit mining.

El gobernador Alejandro Tello Cristerna calificó al impuesto de responsabilidad ecológica como “una acción de justicia social”, durante la presentación del Plan Estatal de Desarrollo (PED).

“The Company’s optimization program at Platosa is progressing well, with submersible pumps coming online by year-end 2016 and initial pumping results far exceeding our expectations,” stated Brendan Cahill, President and Chief Executive Officer. “With the first two submersibles started, we achieved over one metre of drawdown in the first week of operation, far beyond forecast and yet further proof of the project’s efficacy. Well drilling continues on schedule, with nine of fourteen wells now complete and ready for pump installation. We are currently calibrating the well set-up for installed submersibles to ensure sustained pumping operations going forward and remain on track to complete the implementation by the end of Q1 and attain dry mining conditions during Q2.”

Gold Resource Corporation is saddened to report that an employee was fatally injured at its Arista Mine in Oaxaca, Mexico on January 29, 2017. The accident involved the operation of heavy equipment inside the mine.

McEwen has said that Don McEwen, his father, was his inspiration in life.

Warren Rehn, President and Chief Executive Officer of Golden Minerals, commented, “The mill grade resource of about 50,000 gold equivalent ounces has the potential to provide us with more than two years of feed for our Velardeña oxide plant. This could be an important replacement to the Company’s current cash flow from the mill starting in 2019 after the Hecla lease expires, assuming positive economic results from our ongoing studies of the Rodeo deposit.”