Tag: Exploration and Development

Mexican regulators said they are examining whether mining company Goldcorp Inc broke any regulations in its handling of a long-running leak of contaminated water at Mexico’s biggest gold mine.

Jose Antonio Berlanga, Telson’s CEO stated “We are extremely excited to initiate the collection and processing of this 2,000 tonne industrial test in order to support the assumptions being made in the Pre-Feasibility Study currently being prepared for an early October delivery to our shareholders and to better estimate the long term economics of the project.”

“We are very pleased to have been able to conclude this agreement with the members of the community. Our success in continuing to acquire agreements for surface access rights demonstrates the support we have with the local land owners at San Acacio.” stated Bruce Winfield, President and CEO of Defiance. “With this agreement in place, we can now plan to not only continue our exploration efforts at depth but also to aggressively step out along the strike of the vein.”

Mr. Barry Devlin, Vice President of Exploration, stated, “Results for these three Switchback drill intercepts from the latest round of infill drilling continue to define multiple parallel high-grade polymetallic veins. This drilling was designed to assist mine planning for first direct vein development at Switchback. We expect to resume drilling the extensions of this expanding deposit in the coming months, with a goal of adding additional mineral along strike and depth.”

Timmins Gold President Arturo Bonillas states, “We are very pleased to provide guidance for the continued operations at San Francisco which will generate significant free cash flow and offers the Company continued exposure to the rising gold price environment. Over the course of the past year, we made significant reductions in costs and increased operating efficiencies, which contribute greatly to the estimated profitability of the new life of mine plan. Additionally, the low capital requirements throughout the mine life result in very attractive all-in costs. The Company has employed a $1,250 gold price for Reserves, but the potential for significant upside optionality is noteworthy. Based on a $1,350 gold price pit, the number of Resources increases by almost 70% compared to a $1,250 gold price pit.”

First Mining Finance Corp. is pleased to announce that it has signed an agreement with BRS Ventures Ltd., under which First Mining will sell all the issued and outstanding shares of Minera Terra Plata S.A. de C.V., a subsidiary of First Mining, which owns the Peñasco Quemado, La Frazada and Pluton properties located in Mexico.

Westminster Resources has recently completed prospecting and sampling of epithermal precious metal zones in the Guayacan region of the Company’s 17,854 hectare 100% owned Sonora Mexico property. This road accessible, flat -lying area is partially covered with young volcanic rocks and sand-gravel overburden deposits. The Company’s airborne magnetic-VTEM geophysical survey has guided exploration of partially covered target zones which are associated with major North – South structural linears and circular intrusive centers. Both have widespread alteration-silicification signatures related to Landsat imagery anomalies and magnetic lows.

Cyprium Mining Corporation is pleased to announce the results from additional underground samples taken from an oxidized zinc body on level 14 as part of its ongoing exploration program of the Potosi silver mine located in the historic Santa Eulalia, Mexico.

“The fault structures and tourmaline breccias throughout the La Fortuna Project area have been the source of significant historical mining activity. To date only a limited portion of the La Fortuna Main Zone has been drilled to produce the current NI 43-101 compliant resource,” said Miguel Cardona, Vice President, Exploration at Minera Alamos. “This opportunity to increase our land holdings so substantially provides considerable upside for resource growth as the project continues to advance. We are now reworking our planning to include the newly acquired property in our upcoming exploration program”.

N. Eric Fier, CPG, P.Eng, President & CEO commented, “We continue to expand our high grade footprint at Las Chispas with the latest results from the ongoing underground rehabilitation and channel sampling program as we continue to gain further access to historic workings. Our onsite team has safely descended to the historic 650 level** of the William Tell vein with subsequent ongoing mapping and sampling. Our channel sample results on the 650 level are showing sub interval bonanza grades in excess of 2,500 grams per tonne silver equivalent (AgEq)*over 0.20 metre to 1.12 metre widths.