Tag: Exploration and Development

“Further trend analysis over recent months has allowed us to develop a far less capital intensive optimization plan for Platosa,” stated Brendan Cahill, President and Chief Executive Officer. “We can now implement the plan using only underground wells, eliminating the need for surface wells and saving $4 million in upfront capital expenditures. Capital raising in this environment has been challenging, but with the funding now in place, we have a clear path forward for increasing production and lowering costs at Platosa.”

Mr. Arturo Prestamo, President and CEO of Santacruz stated: “First and foremost this agreement allows us to immediately leverage on the extra milling capacity available at our Rosario Mine which will help us realize certain economies of scale. In this regard we note that mineralization previously processed from the Contracuña properties reacted favourably on a metallurgical basis.” Mr. Prestamo continued, “In addition, the agreement will allow us to operate the Contracuña mill at 500 tpd capacity after a nominal capital expenditure upgrade. Further, the Company will be in position to evaluate the possibility of upgrading the Contracuña mill throughput capacity and if the economics are favourable we can explore the opportunity to increase the mining operations.”

As a follow up to the press release dated October 22, 2015, Argonaut Gold Inc. is pleased to announce that the illegal blockade at its El Castillo mine ended on the night of Friday, October 30, 2015. The Company and the community leaders have entered into an agreement in principal. A definitive agreement will be ratified by the community members in the near future. As of the end of the blockade, all mine personnel were remobilized and the site is fully operational. During the illegal blockade, Company personnel were able to continue to operate the leaching facilities and plant to ensure no safety or environmental incidences occurred.

Golden Minerals Company announces in the first half of November 2015, Golden Minerals will suspend mining and processing activities at the Velardena mine and sulfide mill due to continued low precious metals prices and lower than planned mill feed grades at the sulfide plant.

Significant results include:
– the identification of high-grade Ag-Pb-Zn polymetallic mineralization in a 300m offset from the historic Santo Niño mine in hole 15CLM-023A with an 8.5m down hole interval (5.7m est. TT) averaging 143g/t Ag, 1.2%Pb and 6.2% Zn (437g/t AgEq).
– a new high-grade oxide discovery outboard of the Blind – El Sol mineralization on the west side of the central intrusion in hole 15CLM-081; and
– gold-enriched intercepts from drilling on the eastern side of the intrusion in hole 15CLM-079 and 15CLM-080.

Key Points:

• New RC drilling program to start at Mesa de Plata within days
• Environmental approval granted for close-spaced 65 hole program
• Drill program will be appropriate for mineral resource estimation
• Access track construction and drill site preparation is underway
• Diamond core drilling at Mesa de Plata is nearing completion

Cyprium Mining Corporation is pleased to announce that it has closed the acquisition of a 53% controlling interest in a joint venture which owns: (i) the exclusive exploitation and exploration rights of the Potosi silver mine located in the historic silver rich mining district of Santa Eulalia in Mexico; (ii) the exclusive rights of possession, usage and operations to the San Guillermo processing facility which is located seven kilometers from the Potosi silver mine; as well as (iii) all of the exclusive exploration and exploitation rights to a property adjacent to the south of the Potosi silver mine known as La Chinche. Cyprium’s partners in the Joint Venture are entities controlled by members of Mr. Daniel Valenzuela’s immediate family. Mr. Valenzuela is a third generation miner located in Chihuahua, Mexico whose family has owned the Joint Venture Assets for over sixty years.

President Mike England states, “Alix’s Mexican consultants have succeeded in acquiring the only readily available ground on the inferred lithium trends and contiguous to BCM-REM Sonora Project. Our concessions are extremely well situated and, being on the same trend as Bacanora’s growing deposit, have us eager to commence work in the coming weeks.”

In cooperation with the Municipality of San Sebastián del Oeste in Jalisco State, Mexico, Endeavour is providing emergency supplies to four towns in the region of the Company’s Terronera property. The region was hit hard by Hurricane Patricia and some local residents were stranded without communications after the collapse of a bridge on their only access road. Fortunately no damage was sustained within the town of San Sebastián del Oeste or at the Terronera property. Endeavour’s Vice President of Exploration Luis Castro is working with municipal representatives to ensure the emergency aid addresses the immediate needs of the approximately 80 families affected.

States Kootenay President and CEO James McDonald, “We are very pleased to be able to report such excellent results from our initial metallurgical test work on La Negra. These preliminary results indicate that high silver recoveries should be achievable by simple, cost effective milling and extraction methods and they clearly reinforce La Negra’s potential to evolve into a low-cost, open pittable silver resource. This potential is further underscored by drill results to date on La Negra that have consistently returned multiple wide intersections of mineralization, starting at surface and remaining open along strike and to depth, at the kind of silver grades that are currently being mined by open pit methods in Mexico.”