Tag: Exploration and Development

Amarium Technologies, Inc. through its wholly owned subsidiary Amarium Minerals Inc., reports that the Company has signed a definitive agreement to acquire the El Desvan Cobre SA property, located in Michoacan, Mexico. Amarium completed the agreement to acquire a 100% interest in the El Desvan from Minera Rio Cobre SA de CV, after signing a Letter of Intent to acquire the mine on June 18th, 2014. Terms of the agreement have not been released at this time, but the Company reports the value of the acquisition at USD $7.9 million.

El senador Ricardo Barroso Agramon alertó del riesgo que corre la actividad pesquera en Baja California Sur, por la pretensión de empresas privadas de iniciar la explotación y exploración de fosfatos en el lecho marino del Golfo de Ulloa.

Mammoth Resources Corp. would like to announce that it has signed surface rights agreements that will permit drilling on its Tenoriba precious metal property in the prolific Sierra Madre Precious metal belt, Mexico. The agreements are with two ejidos (an ejido is a communal municipal governance committee which has stewardship over surface land usage); the Baborigame ejido and the Santa Rosa ejido, boundaries of which each cover a portion of the Tenoriba property. In the case of the Santa Rosa ejido and Baborigame, respectively and are renewable on equal terms for periods to be determined, by votes in favour of such extension and terms of extension, at the time of such votes. In the case of Santa Rosa ejido, the surface right agreement was originally signed on April 13, 2014 and is for a term of three years, requires payment of Mexican Peso (MN $) 10,000 (approximately US$800) every six months and is renewable for a second three year period with the same general terms, subject to a new ejido assembly vote and can be cancelled at Mammoth’s convenience. In the case of the Baborigame ejido, the surface right agreement was signed on July 20, 2014 and is presently in the process of being notarized. The agreement is for a term of two years, requires payment of MN $15,000 (approximately US$1,200) every six months and is renewable for an additional year period with the same general terms, subject to a new ejido assembly vote and can be cancelled at Mammoth’s convenience. The difference in amounts to each ejido is on the basis of the amount of ejido property existing on the Tenoriba property and population of each ejido community.

MORRO BAY RESOURCES LTD. announces that, further to the news release dated July 7, 2014, the $500,000 summer exploration program at the Peñoles property has commenced. Riverside Resources Inc. and Morro Bay have agreed that the Summer Exploration program will be focused on targets in the prospective areas at Peñoles beyond the previously confirmed deposits at the El Capitan and Jesus Maria targets. This summer exploration program consists of sampling, trenching, and drilling on some of these identified potential targets on the property.

CANGOLD LIMITED reports that it has received final approval from the TSX Venture Exchange on the previously announced transaction for the option to acquire up to a 100% interest in the mining rights to the Guadalupe de los Reyes Gold-Silver Project in Mexico and the non-brokered private placement financing.

Mexus Gold US announced today that it has signed an agreement with North Pacific Gold Inc. for cable salvage, surveying, and mapping of off shore cable in the State of Alaska. North Pacific has a 100′ vessel equipped with heavy lifting capabilities and support equipment that is perfect for surveying, mapping, and sampling operations in the offshore waters of Alaska. Mexus will contribute support, knowledge, and stored cable equipment to North Pacific. In exchange, Mexus will receive 11% of any cable that might be recovered by North Pacific from 8/4/2014 thru 8/4/2020. North Pacific is headed up by Paul Thompson Jr. who has worked tirelessly to provide the vessel and other logistical support to make this operation possible. This agreement allows Mexus to benefit from the off shore cable salvage program yet stay focused on its Julio/Santa Elena Mexico mining operation. Paul Thompson Sr, CEO of Mexus Gold US, stated, “I want our shareholders to understand that this vessel was funded by outside parties and doesn’t affect our plans in Mexico.”

Pan American Goldfields Ltd is pleased to announce that the Judge of the Eighth Civil Court of the Morelos Judicial District has ruled in favor of Sunburst Mining de México SA de CV, a wholly-owned subsidiary of the Company, to force MRT to fulfill all its contractual obligations despite the lawsuit (mercantile ordinary procedure) filed by Corporativo Minero with the Second Civil District Court of the Morelos District, Chihuahua. According to the production agreements between MRT and Sunburst Mining de México SA de CV / Pan American Goldfields Ltd, MRT has to pay Sunburst de México the money owed to it for the production of the last quarter of 2013 and provide monthly and quarterly financial reports of the operation and audit the books of the operation on an annual basis and cooperate and act in good faith to assist Pan American Goldfields with its disclosure and audit requirements.

Grupo Mexico, one of the world’s largest copper producers, is nearing a deal to acquire Mitsui & Co.’s 25% stake in the Silver Bell copper mine in Arizona for about $120 million, according to people familiar with the matter.

Cayden Resources Inc. is pleased to announce additional drill results from Angostura, the third of nine priority targets being tested at the Company’s El Barqueño Gold project located in Jalisco State, Mexico.
Highlights include 8 meters of 16.1 g/t Au including 2.0 meters of 41.9 g/t Au in hole 91 and 55 meters of 0.92 g/t Au and 0.30% Cu in hole 86.

Kootenay Silver Inc. is pleased to announce drill contracts are in place, drill targets have been identified and road construction is underway in preparation for an upcoming phase I drill program on its La Negra Diatreme Breccia prospect, located approx. 7 kms north of Kootenay’s flagship Promontorio Silver Resource in Sonora, Mexico. Drilling is slated to commence in lateAugust 2014 and is expected to include a minimum 2,500 meters of core drilling.