Silver Spruce Resources Inc. is pleased to announce that the Company has awarded the contract for the imminent Phase I drill program at Pino de Plata to ECODRILL of Mexico. ECODRILL will mobilize equipment and personnel immediately and plans to begin drilling within a week.
N. Eric Fier, CPG, P.Eng and CEO commented: ‘With an estimated after-tax NPV (5%) of more than $400 million, an after-tax IRR of 78% and a payback period of less than one year, the economics for Las Chispas are exceptional.’
Keith Piggott commented: ‘We are extremely pleased that the arbitration award has finally been confirmed. We have waited a long time, however, now have a clear definition and legal direction confirmed by the court to pursue the recovery of Goldgroups interest in DynaResource de Mexico, S.A. de C.V.’
‘We continue to see high grade ore from our drilling program which is near surface. Our diamond drilling holes which are twinning historical RC holes continue to provide much higher grades than the historical results, with hole 9 showing gold equivalent grades 70% higher than the historical results. These results, coupled with the strong assay results that the historical 6,000 channel samples are showing as our exploration team works through the data, are showing a very promising project at Los Ricos.’ stated Brad Langille, President and CEO.
Mexus Gold US announced that on May 9th it paid off a note payable of $111,563 which was due on May 14th. In addition, the company announced that it is currently looking to hire two chemists and a geologist to assist Mexus associate Cesar Lemas at the Santa Elena mine. Mexus believes it has found a lead chemist and hopes to complete the hiring process this week. The additional staff is needed as the amount of assaying and general mine work is increasing weekly. Mexus expects the blast hole drilling occurring on the Julio vein to be completed by May 17th with the permitted blasting company to arrive shortly thereafter.
This new Mineral Resource Estimate illustrates the continuity of the mineralization and continued expansion of the mineral deposit in the Cerro Las Minitas project and updates the previously reported January 2018 estimate. The new Resource Estimate incorporates additional data from a very successful drilling program of 10,157 metres in 2018-19, updated metal recoveries and pricing, application of a more rigorous specific gravity measurement protocol and further refinement of the resource wire frames.
Silver Spruce Resources Inc. is pleased to announce the very positive results and conclusions from the recently completed field program at Pino de Plata project in western Chihuahua State, Mexico, located just 15 straight-line kilometres from Coeur Mining’s Palmarejo gold and silver mine. The work program was conducted by ProDeMin geological services company under the direction and supervision of Qualified Person, Dr. Craig Gibson, Ph.D.
Radius Gold Inc. reports on progress of its ongoing diamond drill program at the Amalia Gold-Silver Project in Chihuahua, Mexico. The program is operated by Radius and funded by Pan American Silver under a joint venture agreement. Since Radius announced the completion of AMDD19-010 intersecting 44m grading 12.38 g/t Au and 309 g/t Ag with estimated true width of 34m, Radius has completed 3 further drill holes for which assays are pending.
Thomas A. Doyle, President, CEO, stated ‘New mapping and sampling by the Aloro geological team in the southeast portion of the property has identified new mineralised structures in addition to what was intercepted in LVRC-012. I look forward to getting the drill rig back on the property and follow up on the discoveries we have found in the south east portion of the project.’
Commenting on the updated Mineral Resource, Azures Managing Director, Mr Tony Rovira, said: ‘Azure is continuing to successfully advance the development and production strategy for Oposura. The latest drilling campaign has increased the East Zone resource tonnage and the amount of total contained zinc, lead and silver within the deposit, which will likely lead to an increase in the mine life of the project as part of the Feasibility Study currently in progress. Drilling also confirmed that significant quantities of high-grade mineralisation are immediately accessible for open pit and underground mining, supporting near-term mine development.’
Mexico Mining Center © 2021 / All Rights Reserved
