Tag: Exploration and Development

Azure’s Managing Director, Mr Tony Rovira said, “The high precious metal values in the soil samples, including over 2.4g/t Au and 100g/t Ag, are a major development. The silver grades are generally more than double those that were recorded from the soil sampling at the nearby Mesa de Plata discovery, and the high gold assays indicate, for the first time, that this system may have significant gold potential.

Riverside Resources Inc. is pleased to announce that it has entered into an Option Agreement with Centerra Gold Inc. whereby Centerra can acquire a 70% interest in the Company’s Tajitos Project. In order to exercise the option, Centerra must incur $6,000,000 USD in aggregate exploration expenditures within approximately four years of signing the Agreement. Riverside will act as the Project Manager and collect management fees until the earlier of December 31, 2017 or $2,000,000 in exploration expenditures have been completed, after which point Centerra may elect a different Project Manager if they so choose. The required exploration expenditures are outlined in the table below:

Morgan Poliquin, President and CEO of Almaden, commented: “This is a significant transaction for Almaden. This mill is very well suited to the flow-sheet we envisage at our Ixtaca project in Mexico, and represents the same throughput as we outlined in our ‘ramp-up’ scenario in our PEA Update announced in September, 2014. Furthermore, we can acquire this infrastructure for substantially less than the cost estimated for brand new equipment in that PEA Update. For several years we have been dealing with very challenging market conditions for mineral exploration and development as metal prices have fallen along with sentiment. At Almaden we have a long-term view and look for the opportunities that such markets bring. We are very excited by the opportunities that this transaction could provide.”

Canarc Resource Corp. announces that it has been granted the right by the Zacatecas state government to enter into an exclusive agreement to lease their fully permitted 500 tonne per day processing plant “La Plata” in the city of Zacatecas, Mexico.

Mexus Gold US President/CEO Paul Thompson today announced that Argonaut Gold has been granted a permit by SEMPRAS to begin drilling at the Julio/Martha Elena property. Argonaut has contracted with Mexus to build roads and drill pads as necessary. The company began this work on October 16 [th] . Added CEO Thompson, “I feel as if Argonaut is ahead of schedule and am pleased with the progress to date.”

• New zone of silver mineralisation identified near recently announced Mesa de Plata silver discovery (refer ASX release 16 September 2015)

• High grade silver assays returned from outcrop sampling, include: 369g/t Ag 181g/t Ag 148g/t Ag 136g/t Ag 116g/t Ag 103g/t Ag

• Mineralisation is hosted in the same vuggy silica rock unit as the nearby Mesa de Plata discovery

• Diamond drill program currently underway at Mesa de Plata for mineralogical and metallurgical studies

U.S. Precious Metals, Inc. announces its final drilling results from the 2015 drill program on its Solidaridad property, Michoacán, Mexico. The 2015 program consisted of 4,303 meters of diamond drilling resulting in 27 holes. The drill program provided infill drilling on the “Main Zone,” confirmation drilling of older RC drill results and some exploratory drilling in the “North,” “South,” “East” and “West Zones” which surround the “Main Zone.” The “Main Zone” drilling continued to return excellent Cu-Ag-Au results while exploratory drilling on the “North Zone” targets returned high grade intervals.

Marlin Gold Mining Ltd. is pleased to announce that it has fully dewatered the Taunus pit at the La Trinidad property in Sinaloa, Mexico. Damage to equipment was limited to a pump, a generator power source to the pump and associated electrical equipment. Marlin will need to rebuild certain damaged water diversion channels in preparation for next year’s rainy season. All costs associated with the equipment losses, property remediation and business interruption are expected to be covered by our insurance claim.

Industrias Peñoles, S.A.B. de C.V. informa que en relación a la contingencia por inndación que se presentó el pasado 1° de eneero en la mina Naica, Después de más de nueve meses de esfuerzos exhaustivos sin lograr abatir de manera sostenida el agua hasta el nivel necesario para desarrollar alternativas que permitieran reanudar su explotación, ha decidido suspender por tiempo indefinido las actividades de esta unidad minera por causa de fuerza mayor.

Kootenay Silver Inc. is pleased to announce that it has optioned its Cervantes Gold/Copper project located in Sonora, Mexico to Aztec Metals Corp. Cervantes is a Gold/Copper Porphyry prospect located approximately 50 km northeast of the Company’s Promontorio Silver resource in Sonora, Mexico, which based on geologic observations, the Company believes has potential for hosting leachable gold resources. The project is the result of Kootenay’s generative program and was staked through its wholly owned Mexican subsidiary, Minera J.M.