Tag: Exploration and Development

Amarium Technologies Inc., through its wholly owned subsidiary Amarium Minerals Inc., reports that the Company has approved upgrades to their mill at the San Pedro Copper Mine in Michoacan, Mexico. The flotation mill at the San Pedro Mine currently has a capacity of 20 tons per day, but after upgrades the mill will have a capacity of 200 tpd and will be expandable to 500 tpd. Amarium management stated that the upgrades to San Pedro are to begin immediately.

Cayden Resources Inc. is pleased to announce that it has received the final payment of $7,872,000 USD from its February 1, 2013 land sale which is now complete. In that sale, Cayden’s Mexican subsidiary sold approximately 23% (3,997 hectares from the original 17,076 hectares) of its “Morelos Sur Concession” to a subsidiary of Goldcorp Inc. for a total of $15,744,000. The exact boundaries of the sold portion were varied somewhat as part of the final completion documents.

Big North Graphite Corp. announces that the Company has entered into a letter of intent with MAG Exploration Services Inc. to acquire all of the shares of Grafito de Mexico, S.A. de C.V., held by the Vendor (which shares represent 97.5% of the issued and outstanding share capital of Grafito. Grafito is the registered and beneficial owner of the El Tejon property, a past producing flake graphite mine.

Pan American Silver Corp. has decided to proceed with the expansion of its La Colorada mine in Zacatecas, Mexico, based on the positive results of a recently completed Preliminary Economic Assessment. The PEA demonstrates that the relatively low-risk expansion project has the potential to provide robust after-tax economic returns using a $19 per ounce long-term silver price. The PEA contemplates an increase in silver production from the current level of approximately 4.7 million ounces per year to 7.7 million ounces per year by the end of 2017, for an incremental capital investment of $80 million, the majority of which will be spent over the next 3 years.

Mexus Gold Mining S.A. de C.V., a wholly owned subsidiary of Mexus Gold US, announced today that it has received the final Mexican Environmental Mining Permit for the Julio/Santa Elena project. The 30 year permit will allow the Company to mine and produce gold on its wholly owned property. The Company plans to establish three operations at the Julio/Santa Elena mine site.

• Drilling extends the Cascada mineralised zone

• Four drill holes completed (1,052m)

• Significant amounts of copper sulphide mineralisation visually identified in all holes

• High-grade strike length extended to over 140m and down dip to over 150m – remains open to the west and at depth

• First assay results expected in early 2014

• Copper porphyry potential still yet to be tested in this program

Gold Resource Corporation announces the expansion of its high-grade Switchback discovery intercepting multiple veins over a 68 meter wide interval. Step-out drilling includes 5.27 meters of 2.93 grams per tonne (0.09 oz/ton) gold, 0.89 meters of 16.95 grams per tonne (0.49 oz/ton) gold and 1.60 meters of 575 grams per tonne (16.79 oz/ton) silver. Gold Resource Corporation is a gold and silver producer with operations in the southern state of Oaxaca, Mexico. The Company has returned over $91 million to shareholders in monthly dividends since declaring production July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

Almaden Minerals Ltd. is pleased to announce the results from Almaden’s ongoing 2013 Ixtaca Zone drill program at the Company’s 100% owned Tuligtic project, Mexico. The infill program has been designed to upgrade resources currently in the inferred category to the higher confidence measured and indicated categories. The holes announced today show the continuity and high grades of the Main and Northern zones defined with previous drilling.

Gold Resource Corporation announces the on time completion of its El Aguila mill expansion. Gold Resource Corporation is a gold and silver producer with operations in the southern state of Oaxaca, Mexico. The Company has returned over $91 million to shareholders in monthly dividends since declaring production July 1, 2010, and offers shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

Great Panther Silver Limited today announced surface drilling results from its 100% owned San Ignacio Project in Guanajuato, Mexico. San Ignacio is currently in development with production expected to commence in the first half of 2014. The surface drilling comprised 13 holes totaling 1,144 metres and was focused on the upper 80 metres of the Intermediate Vein in order to define the top of the epithermal system and to better guide the first two years of development.