Tag: Exploration and Development

Mexican-focused Azure Minerals Limited is pleased to provide an update on the drilling programs currently underway at its Cascada and La Tortuga projects.

US Precious Metals, Inc. reports that May 22, 2013 it entered into an agreement with Mesa Acquisitions Group, LLC. in association with Alba Petroleos ( www.albapetroleos.com.sv ) to further explore and develop USPRs Mexican concessions.

Sierra Metals Inc. is pleased to report that the Company is on track to triple production at its Cusi property during 2013. Development of new access drifts at the La India mine and Minerva Mine is on time and daily production is now double that of 2012. The Cusi operation is scheduled to continue to expand and reach production of at least 500 tonnes per day within 4 months.

Canasil Resources Inc. announces that the Company and MAG Silver Corp. have signed a binding Letter Agreement providing for MAG to earn up to a 70% interest in Canasil’s Salamandra silver-copper-zinc-lead project in Durango State, Mexico. The project is located close to the city of Durango and 80 kilometres on trend northwest of the San Martin-Sabinas mining district, the largest underground silver-copper-zinc deposit in Mexico, owned by Grupo Mexico and Penoles.

Esperanza Resources Corp. is pleased to announce that in connection with the previously announced transaction with Pan American Silver Corp. it has entered into a definitive purchase agreement and a subscription agreement.

Las políticas de libre mercado, a raíz de la firma del Tratado de Libre Comercio firmado en 1994; las concesiones del subsuelo, sustentados en la Ley Minera y la Ley Federal de Derechos; la falta de pago de regalías y el secreto fiscal; la reforma al artículo 27 constitucional realizada en 1992 que permitió que las tierras comunales y ejidos se convirtieran en propiedad privada, explican que un grupo de seis mineras canadienses controlen el 70 por ciento de la explotación del oro en México y posean en territorio nacional reservas de ese metal con un valor total de 83 mil millones de dólares, y que a pesar de los abusos que cometen con comunidades cercanas a los lugares de explotación salgan avantes en conflictos generados por su forma de operar, que se resume en bajos costos de operación, reducidos impuestos y cuotas ambientales, que les significan poca inversión y mucha ganancia.

SilverCrest Mines Inc. is pleased to announce that the Company, through its wholly-owned subsidiary, SilverCrest de Mexico S.A. de C.V., has completed the exercise of the Company’s option to acquire a 100% interest in the nine La Joya West concessions which comprise approximately 529 hectares located 75 kilometres southeast of the city of Durango, Mexico. The Company exercised the option by making a final payment of US$2.5 million to the concession owners, one-half was paid in cash and one-half was paid by issuing a total of 615,776 common shares of the Company at an issue price of Cdn$2.06 per share (totaling $1,268,499 or US$1.25 million). The concession owners retain a 2% net smelter return royalty from mineral production on the property covered by the concessions. The nine La Joya West concessions, together with the three La Joya East concessions (which the Company has an option to acquire a 100% interest), and five other concessions staked by the Company, comprise the Company’s La Joya Project which is approximately 10,660 total hectares.

Excalibur Resources Ltd. through its 49% owned subsidiary continues underground development and mining in four adits, which have now advanced a total of 360 meters at the Catanava property in Pinos, Zacatecas State, Mexico. Although, the lab on site does testing on a daily basis, samples are periodically sent to commercial labs as part of an independent program as well as for 43-101 purposes. The San Gil adit has advanced 83 meters underground and is located on the east side of the arroyo so is not part of the Cinco Estrellas vein system.

Arco Resources Corp. announces that it has entered into a purchase and sale agreement dated May 24, 2013 with Highlander Overseas Inc., a private company incorporated in the West Indies. Under the Agreement, Arco has agreed to sell Highlander a 100% interest in Arco’s Tres Hermanas, La Luna and Predilecta properties (the “Properties”) located in Oaxaca, Mexico, subject to TSX Venture Exchange approval.

El presidente de la Cámara Mexicana de la Industria de la Construcción (CMIC) en Zacatecas, Salvador González García dijo que es insuficiente la obra pública, por lo que se gestiona que los proyectos federales sean asignados preferentemente a empresas locales, además de incentivar una mayor incursión en el sector privado, principalmente en la minería.