Tag: Exploration and Development

The Company is pleased to announce that the 2016 exploration program on its 100% owned san Timoteo property located in the Uruachic district of Northwest Mexico is now underway. The program will involve using the Company’s Terraspec machine to analyze clay minerals from existing drill core and other samples especially from the area of the 500 level San Martin adit. This will allow the company to build a 3D model of clay mineralogy which will aid in the planning of future drill holes.

Gainey Capital Corp. is pleased to provide an update regarding important progress on the Company’s exploration activities at its highly acclaimed, 192-km2 El Colomo property located in the Sierra Madre Occidental Trend in Western Mexico and mineral-processing at its fully operational, 300-tpd processing centre located in Huajicori, Mexico. Gainey has maintained a low monthly burn rate over the past 24-months while gold prices have dropped as low as USD$1050/oz. this year. Gainey continues to be a strong exploration and mineral-processing company and has continued to find significant opportunity during the difficult precious metals market over the past several years.

Akiba Leisman, Chairman and CEO of Marlin, states that “this is an important milestone in the Company’s history. We have been mining at La Trinidad for over two years, with the removal of over 21 million tonnes of material in order to get to the point we are now. In less than 80 days we will be at the high grade HS Zone, with grades more than three times what we have been mining to date. The countdown to the HS Zone has begun, as we look to make Marlin one of the lowest cost gold miners in the Americas.”

“Though copper and silver mineralization was successfully intersected during the drilling program completed at the La Cobota Project in January, the overall results do not support further development work under the currently challenging commodity price and economic circumstances. Nonetheless, the Company considers Mexico to have excellent geological potential and will continue to evaluate projects there as part of its ongoing business development program to diversify and expand its project portfolio,” said Chief Executive Officer Pieter Britz.

Garibaldi Resources Corp. is pleased to announce that field crews have mobilized to commence first-ever diamond drilling at the Rambo high-grade gold target, part of the company’s 100%-owned Rodadero Gold-Silver Project. Drilling will test this very prospective area for a gold system approximately 6 km east of the company’s Silver Eagle deposit, underscoring the large-scale nature of this emerging mineral camp in central Sonora State.

Four diamond core holes completed at Loma Bonita ad Puerto del Oro, with assay results currently awaited

Silicification, brecciation, alteration and sulphide mineralisation identified

Drilling is continuing

Los jóvenes del colectivo Matza, así como estudiantes de la preparatoria por cooperación José Martí en Ixhuatán, clausuraron simbólicamente la mina colgando una manta.

Detailed ground magnetic grids were completed over two areas which host different styles of mineralization: The San Clemente gold target and the La Presa polymetallic replacement lead-zinc-silver target. Mineralization at San Clemente consists of epithermal gold mineralization along fractures and in veinlets hosted by a rhyolite porphyry/flow dome complex and is exposed in numerous small historic mine workings. The La Presa target consists of widespread alteration in an area of Cretaceous sedimentary rocks near the contact with the rhyolite porphyry. Ground magnetic surveys covering 42.56 line-km on 25 m-spaced infill lines were completed over both targets to better understand structural controls on mineralization and potential structural offsets.

Robert Willis, San Marco’s CEO commented that “we’ve seen what GlobeTrotters has been able to accomplish in a short period in Peru, finding outstanding targets and attracting the interest of several large companies to areas that have, in some cases, seen virtually no historic exploration. I’m very confident that Richard and his crew can take the same approach to the state of Sonora and meet with similar success. San Marco will then take the target set and apply our local knowledge and boots on the ground follow-up to winnow the list down to the highest potential areas for staking. The mining sector needs new targets and the combination of the talents of San Marco and GlobeTrotters will help find them.”

Riverside’s President and CEO, John-Mark Staude, stated: “We are excited to have two drill rigs on site testing two different areas at the same time. The gold deposits and mines of Sonora typically take significant drilling to delineate and we are happy to be collaborating with Centerra on this initial drill campaign to better understand the system and features at Tajitos and Tejo. The target areas are very different with the Tejo large scale under-cover target having extensive prospective ground and this initial work is simply aimed to get a sense of bedrock similar to the drilling methods Riverside has used in Canada to get quantitative geologic data beneath post-mineral cover. Riverside continues to have a strong treasury and will progress with the 2016 plan that we have laid out to create shareholder value.”