Tag: Exploration and Development

VVC Exploration Corporation (TSX-V:VVC) is pleased to announce the commencement of the third phase of diamond drilling on its Samalayuca Project in northern Chihuahua State, Mexico. Jim Culver, VVC CEO commented: “We are pleased that the drilling equipment has arrived at Samalayuca this morning and is currently been mobilized to the first drill site. We hope to continue to build on the earlier drilling results.”

Southern Silver Exploration Corp. (TSX.V: SSV) reported today that drill crews have mobilized to the Area of the Cerro project to complete final preparations in advance of the arrival of the drill. The work is part of Southern Silver’s $3 million 2018 exploration program on Cerro Las Minitas and will target both systematic resource expansion in the Area of the Cerro which contains the existing Mineral Resource Estimate and drilling of new discoveries in the recently staked CLM West claim group. A second drill will be mobilized for the CLM West Au-Ag epithermal claim area upon completion of the current surface exploration targeting program allowing the company to test both target areas simultaneously.

Luis Castro, Vice President, Exploration for Endeavour Silver, commented, “We are very encouraged to discover these new zones of high grade polymetallic mineralization within the San Patricio vein system. Hole 20 suggests the vein system blossoms into three parallel veins of higher grades moving to the south and at depth where the central mineralized zone is wide open for expansion.”

“We are very pleased that that both projects continue to generate such compelling drill results,” commented Stephen McGibbon, Executive Vice-President of Premier Gold Mines Ltd in the Company’s C-Suite Blog. “At Hasaga, the C-Zone and D-Zone targets are clearly structurally-controlled and appear to be open for further expansion, while defining such high grades close to our mine workings at Mercedes will support improved operational performance.”

The Magistral Agreement is in addition to the other four previously disclosed binding agreements that collectively propose to sell the Company’s entire mining portfolio in an arm’s length transaction to a private company for the aggregate purchase price of approximately CDN$14,952,000. The Company intends to use the funds to expand its existing and successful cryptocurrency mining pilot project of 360 mining units through the purchase of an additional 2,000 mining units under its existing lease arrangements located in Manitoba. The proposed sale of its mineral exploration assets and expansion of its cryptocurrency business will constitute a Change of Business as defined by the policies of the TSX Venture Exchange.

“We are very excited to have concluded on this agreement,” said Dusan Berka, CEO of Megastar Development. “The project has been on our radar for some time and brings with it two important ingredients for early stage exploration; location and expertise. On location, the property sits on the trend between two producing mines; the Switchback mine owned by Gold Resource Corp. to the north and the San Jose mine owned by Fortuna Silver Mines to the south. From a technical perspective, the property is being vended in by David Jones, a geologist with extensive experience and success in Mexico having been part of the finds of several, now-producing mines. David will also be an instrumental part of the exploration team, allowing us to benefit from his historical understanding of the property and its surrounding geology.”

Keith Neumeyer, President and CEO of First Majestic said, “With this closing, First Majestic is integrating a large, world-class, silver and gold mine into its portfolio of operating mines. The San Dimas mine, becoming our seventh mine in Mexico, will result in a transformational leap forward in our production profile with an estimated doubling of profitable ounces produced.”

Gainey Capital Corp. (TSXV: GNC) (OTC: GNYPF) is pleased to announce that it has completed upgrades to its Huajicori mill and anticipates processing the mineralized bulk sample material during the coming weeks.

“Our sampling continues to demonstrate consistent and strong copper grades and widths in the main showing areas,” stated Michael McPhie, President and CEO of Prize Mining. “We are gaining a better understanding of the mineralization and using that information to define drill targets. Furthermore, reconnaissance sampling on five other prospects spread over a 2.4km by 1.2km area underscores the widespread and locally high-grade nature of the copper-silver mineralization. With almost 18,000 hectares of prospective ground and more than 35 known showings, we are confirming the district-scale potential of the Manto Negro Project.”

Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC) announces that the Company has completed preparations to resume drilling at the La Esperanza silver-gold-zinc-lead project in Durango and Zacatecas States, Mexico. The drill program is planned to follow up on the positive drill results from the 2016-17 drill program on the La Esperanza vein, located in the southeast of the project area. The access road to the drill area has been graded and the drill sites have been prepared in advance of the drill mobilizing to site. All required permits are in place and the start of the drill program will be announced when drilling is underway.