Tag: Exploration and Development

CEO John Lawrence said, “The equipment from Reynosa was a major bonus for all operations and will increase capacity while lowering costs. The resumption of production from our North American supplier from an average of 57,002 pounds of antimony per month during 2018 to 128,013 during January 2019 is a major boost in antimony production as well as gold and silver. The testing of the Los Juarez caustic leach of flotation concentrates has been finished with excellent recoveries of gold and silver, and the construction of the cyanide leach circuit at Puerto Blanco is proceeding on schedule. The inventory of 348,985 pounds of contained antimony at the end of January is very large and should provide substantial cash flow once processed.”

Bradford Cooke, CEO, commented, “In recent years, we diversified our growth strategy to include a portfolio of greenfields projects in Chile that have bulk tonnage potential. Our exploration group acquired and explored three attractive new projects to delineate high priority targets for drilling this year. The targets include low sulfidation epithermal silver at Aida, high sulfidation epithermal gold at Paloma and porphyry copper-molybdenum-gold at Cerro Marquez. We are thrilled to introduce today this new pipeline of growth projects and we look forward to drilling them in the second half of this year.”

Millrock President & CEO Gregory Beischer stated “Millrock thanks Centerra for the investment they made in advancing these projects. While Centerra has elected to leave, we strongly believe the projects have excellent technical merit. We think they will be attractive to mid-tier or smaller mining companies. Our intention is to seek out new funding partners, but at the same time we will have to balance the cost to hold to La Navidad and El Picacho concessions in the face of Millrock’s currently limited cash position.”

Aura Resources Inc. announces that it has entered into a definitive agreement with Minaurum Gold Inc. and its Mexican subsidiary whereby Minaurum will acquire an interest in the Company’s East Taviche property located in Oaxaca, Mexico. In accordance with the terms of the agreement, Minaurum will acquire an initial 80% interest in the East Taviche project…

We are very pleased to announce a 28% increase in the Measured and Indicated Mineral Resources at the Topia Mine to nearly 15 million silver equivalent ounces,” stated James Bannantine, President & CEO. “The Company was able to increase the resources even after mine depletion over the past four years. This update provides for a long mine life at Topia and supports the planned increase in processing capacity which is expected to increase 2019 production by approximately 25%. In addition, the conversion of Inferred Resources and further exploration potential provide a good opportunity to further extend mine life.

Silver One announces that it will be initiating a drill program at its 100% owned Peñasco Quemado project located in Sonora, Mexico. The proposed program, scheduled to begin by mid-February 2019, will consist of approximately 1000 metres of diamond drilling to test selected targets within strong zinc-lead and other metal geochemical and coincidental geophysical anomalies previously identified.

Garibaldi Resources Corp. management is deeply sorrowed to inform shareholders of the sudden passing of Everett Makela, P.Geo., Director and VP Exploration-Canada, on January 24, 2019.