Sierra Metals Inc. announces that it received authorization from the Ministry of Labor and Safety of Mexico to restart mining operations at its Promontorio Mine on Friday, August 30, 2013.
Chris Osterman, President and CEO of Sundance, stated, “We have completed a property-wide soil geochemical program as well as an induced polarization geophysical survey earlier this summer with our joint venture partner First Quantum, and have several outlined anomalous targets. This drilling will test these anomalies in the subsurface.”
Monarchy Resources, Inc. is pleased to provide an update on its interest in its three working mines; Morelos, La Luna, and Peneto. The Company is a 45% shareholder in New World Metals, the owner of these three mines located in Chihuahua, Mexico.
McEwen Mining Inc. announces that the technical report titled “Resource Estimate for the El Gallo Complex, Sinaloa State, Mexico” dated June 30, 2013 has been filed under the company’s profile on SEDAR (www.sedar.com) pursuant to the requirements of Canadian National Instrument 43-101 and is also available on the company’s website – www.mcewenmining.com. The technical report, prepared by John Read , CPG, McEwen Mining’s Senior Consultant, and Luke Willis , P.Geo, McEwen Mining’s Director, Resource Modeling, includes the updated resource estimates previously announced by the company in a press release dated July 17, 2013 and August 7, 2013. Mr. Read and Mr. Willis are both Qualified Persons as defined in Canadian National Instrument 43-101 and have reviewed and approved the contents of this news release.
Alamos Gold Inc. today reported the completion of the previously announced acquisition of all of the issued and outstanding common shares of Esperanza Resources Corp. Shareholders of Esperanza were overwhelmingly supportive of the Acquisition, with 96.25% of the votes cast at a special meeting of the shareholders held on August 27, 2013 being voted in favour. A Final Order was granted by the Supreme Court of British Columbia on August 29, 2013 approving the Plan of Arrangement pursuant to which the Transaction was implemented.
Full Metal Zinc Ltd. is pleased to announce that it has signed a binding letter of intent with Minera ISP, S. de R.L. de C.V. and certain of its affiliates including, Inversiones Mineras ISP San Andres, S. de R.L. de C.V., Operaciones Minera ISP San Andres, S. de R.L. de C.V. and Servicios Mineros ISP, S. de R.L. de C.V. to acquire 100% of the San Andres de la Sierra mine and processing facilities as well as the exploration land package around the area of historical operations. The transaction is subject to a 60 day due diligence period following which a definitive agreement may be concluded between the Company and Vendors.
Cream Minerals Ltd. announces that Cream has agreed not to proceed with the sale of the Company’s Nuevo Milenio Silver-Gold Property as previously announced on July 22, 2013. The Company’s Board proposes a corporate reorganization consisting of the following:
Azure Minerals will trade higher today after identifying the potential for a large underlying porphyry copper zone at its Cascada copper-gold-silver project in Chihuahua, Mexico.
Sierra Metals Inc. regrets to report that on August 20, 2013, an employee of a third party contractor was fatally injured when he was driving a front-end loader on a surface yard near the Promontorio silver mine and the ground below the equipment unexpectedly subsided. The Company believes the accident was caused by a ground subsidence following heavy rains recently experienced in the Cusi area. As a result of the accident, Mexican authorities have been contacted and they have directed that the Promontorio Mine temporarily stop production, pending completion of geophysical and hydrological surveys. The surveys have commenced and the Company anticipates receiving approval to restart operations by the end of this week. The Company will keep the market informed of any developments as they occur.
Bacanora Minerals Ltd. is pleased to announce an initial inferred lithium resource estimate of total inferred resources in the amount of 88,271,000 tonnes bearing an average grade of 3,163 Li ppm or 1.68% Lithium Carbonate Equivalent for 1,486,000 tonnes of LCE(1) for the Fleur and El Sauz concessions in northern Mexico. The two concessions form the lands under joint venture with Rare Earth Minerals PLC. REM has earned a 10% interest in the Concessions and provided notice of its intention to exercise its option to increase its interest in the Concessions to 30%. The new inferred lithium resource estimate is tabulated below (Table 1) and combined with previously reported lithium resources for the La Ventana Deposit are listed in Table 2.
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