Tag: Exploration and Development

Orex Minerals Inc. has awarded an initial 2,000 metres diamond drilling contract to Kluane Mexico S.A. de C.V., a subsidiary of Kluane Drilling Ltd. for the Sandra Escobar Silver Project in northern Durango State, Mexico. Sandra Escobar Project is being advanced by Orex under an option agreement with Canasil Resources Inc, as announced on September 15, 2015.

Millrock President & CEO Gregory Beischer commented: “Using the geological database we gained through the purchase of Paget Southern Resources in 2014, and through the knowledge, experience and effort of our Mexico exploration team, Millrock has been able to generate another excellent suite of mineral claims at very low cost. We plan to move these early-stage projects along through our development pipeline and secure funding partners when potential is clearly demonstrated”.

This 40 page report describes the history of our Michoacan, Mexico property as well as geology and geologic history of its mineralization. It discusses in detail the resource estimate based upon the 2015 drilling campaign which primarily focused on the “Main Zone” and areas surrounding the “Main Zone.” It also incorporates the previous drilling campaigns of 2008 and 2010 (a total of 11,300 meters of core was drilled in these three campaigns) along with other historical data. The Report further summarizes ten mineralized zones recognized in the 2200 meter (1.367 mile) strike length.

BACANORA MINERALS LTD., the Canadian and London listed lithium and borates company, is pleased to report an updated Mineral Resource estimate for the Sonora Lithium Project in Mexico, which has seen its Indicated Minerals Resources increase by over 300% to 5 million tonnes of lithium carbonate equivalent. In addition, the Project’s Inferred Mineral Resource has been estimated as a total of 3.9 Mt of LCE contained within the deposit.

Rare Earth Minerals Plc has today reported an updated Mineral Resource estimate for the Sonora Lithium Project in northern Mexico, which has seen its Indicated Mineral Resources increase by over 300% from 1.1 million tonnes to 5 million tonnes of lithium carbonate equivalent. In addition, the Project’s Inferred Mineral Resource has been estimated as a total of 3.9 Mt of LCE, increasing the overall Indicated and inferred resources from 7.4 Mt LCE to 8.8 Mt LCE.

First Mining Finance Corp. is pleased to announce that it has signed an option agreement with Exploraciones Mineras Peñoles, S.A. de C.V., an indirect Mexican subsidiary of Industrias Peñoles S.A.B. de C.V. under which Peñoles may acquire First Mining’s Puertecitos and Los Tamales copper properties located in northern Sonora, Mexico within the prolific Sonora-Arizona, Copper Belt. The region hosts large copper-molybdenum porphyry deposits, such as at the world-class Cananea and La Caridad copper mines. All dollar amounts included in this news release are expressed in U.S. dollars.

Caza Gold Corp. announces that the $300,000 debt financing raised late last year for working capital has been retired. The financing was in the form of a demand loan bearing simple interest at 9% per annum. Nine of the 16 lenders were either management or directors of either Caza or Canarc Resource Corp.

Southern Silver Exploration Corp. reported today that Electrum Global Holdings L.P. has provided an additional tranche of funds to Southern Silver as operator and now has contributed a total of US$2.0 million and earned-in for an indirect 30% interest in the Cerro Las Minitas project in Durango, Mexico.

Starcore International Mines Ltd. announces that with the financing in place as announced in its news release of November 17, 2015, the Altiplano Gold & Silver processing plant in Matehuala, Mexico is ready to accept concentrates for processing.

“The Altiplano Plant will be processing gold and silver concentrates in the next two weeks,” said Robert Eadie, President and Chief Executive Officer of Starcore.

Riverside Resources Inc. is pleased to announce that it has acquired two large recently released mining concessions through a lottery process. The combined concessions obtained by Riverside cover approximately 2,305 hectares (~23km²) and comprises an integral part of the historic La Silla district.