Tag: Exploration and Development

“The installation and commissioning of this equipment is part of our ongoing upgrade of the Veta Grande milling facility,” stated Arturo Préstamo, President and CEO of Santacruz. “As a result metal recoveries are now approximately 70% and 88% for silver and lead respectively reporting to the lead concentrate, with an additional approximate 14% recovery of silver to the zinc concentrate. We anticipate further increases in the silver recovery as we continue to fine-tune the system. Our next step is to begin work on fabricating and installing a zinc thickener and filter press of equal capacity which is scheduled for completion in Q1 2017.”

Drill assays from Hole 21 (RC16CT-21) has returned a high grade silver intercept from surface. This further enhances and confirms the continuity of the southern Loop mineralisation. At 35m width this intercept serves to define a confirmed high grade shoot within the broad and continuous mineralised structures of the Mojardina Loop.

Mexus Gold US along with its JV partner MarMar recently decided that the best option for gold recovery at the Santa Elena mine will be a Merrill Crowe system. The decision to use this system instead of Electrowinning was made in part because a Merrill Crowe system will allow Mexus the opportunity to scale the recovery plant as production increases. Mexus now plans to ship a 400-600gpm Merrill Crowe plant from its Walnut Grove shop to the Santa Elena mine site. This plant was purchased by Mexus in 2014 and had been readied for use when needed. The recovery plant has been disassembled, loaded, and is ready to be shipped around November 27th.

La minera Excellon Resources Inc., informó que están conformes y acatarán la resolución del Tribunal Unitario Agrario del Distrito Sexto de Torreón, Coahuila, sobre el conflicto agrario entre esta compañía y el ejido La Sierrita, en relación al acuerdo de derechos de superficie sobre las mil 100 hectáreas de terreno montañoso y no arable al oeste de la mina La Platosa, en Durango.

“We are pleased with this resolution, which under the circumstances is a just decision by the Agrarian Tribunal,” stated Brendan Cahill, President and Chief Executive Officer. “We continue to make meaningful cooperative investments in our local community of Bermejillo and look forward to re-engaging with the Ejido La Sierrita on fair and transparent terms in due course.”

Managing Director Will Dix commented “the new intersections to the south of our modelled mineralisation continue to support the Company’s view that significant base metal resources exist down dip and down plunge of the mine development. These new results will be incorporated into our initial resource estimate due out next month and provide additional targets for immediate follow up. This and the recent regional exploration results have provided the impetus for a re-think on capital management and the decision to focus our cash in the ground rather than accelerating the restructure of the project ownership at this time.”

Bradley Langille, CEO, stated “We are reaffirming our production target of 400,000 to 500,000 silver equivalent ounces for the quarter, and the recent changes to the Parral heap leach should significantly impact future production.”

Santacruz Silver Mining Ltd. announces the results of its resource estimate for the Panuco silver deposit located in Zacatecas, Mexico. The Panuco deposit is situated within Santacruz’s Veta Grande project area and is located approximately five kilometers north of the Company’s Veta Grande Mine and mineral processing facility. The deposit is accessed by paved road and is characterized by modest relief at an average elevation of 2300 meters above mean sea level. The Veta Grande project consists of 184 mining concessions covering an area of 8,944 hectares (22,101 acres) in the Zacatecas Mining District, Mexico.

N. Eric Fier, CPG, P.Eng, President & CEO commented, “We continue to gain further access to historic workings and expand our high grade footprint at Las Chispas. The latest results from the ongoing underground rehabilitation are for the historic Varela Mine, which includes bonanza grades of up to 40.9 grams per tonne gold and 610.0 gpt silver or 3,677.5 gpt silver equivalent (“AgEq”, based on 75(Ag): 1(Au) and 100% metallurgical recovery) over 0.3 metres. Our sample results on four levels are showing multiple grades of over 1,400 gpt AgEq. From visual inspection, the Varela Mine has two veins (the Main Vein and the Footwall Vein) and appears to have had less historical production than either the Las Chispas or William Tell veins. The grades mined at Varela may have been below an assumed historic cut-off grade of 1,000 gpt silver. SilverCrest plans on drill testing this target during the ongoing Phase II exploration program.”

Riverside’s President and CEO, John-Mark Staude, stated: “We are very encouraged by the results obtained by the geochemical and geophysical surveys completed to date at the Glor Project. Together with the results of the soil survey and geological mapping, the IP survey has provided us with several attractive drilling targets. We now look forward to results from the rock-channel sampling and recently added trenching program, with plans in place to start drilling next quarter.”