Tag: Exploration and Development

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Alexander Mining PLC on Wednesday said it has agreed an extension and expansion of its lithium ore processing joint venture with an inventor of its two main technologies.

President and CEO Joey Wilkins stated: “Hole 18CER010 is the best we’ve seen thus far at Cervantes as part of our Phase 1, 17 hole, 3,000 m drill program. These positive drill results, combined with our recent land acquisition that expanded the property six-fold to 3,619 hectares and added several new porphyry-type gold-copper targets, significantly enhance the potential of the Cervantes Property.”

Goldplay Exploration Ltd. (TSXV: GPLY), is pleased to announce the receipt of the surface drill permit for the Company’s El Habal Gold Project in Rosario, Sinaloa, Mexico. With this permit in hand together with recently approved surface agreements with all landowners, the Company is preparing a Phase I drill program to commence in May 2018. The Company plans to complete an initial 4,000 m HQ core drill program based on successful results from its recent ground geophysical survey (“CSMAT”) and the mapping and sampling of historical shallow underground workings. The initial drill program will focus initially on a 600 m long mineralized corridor, open along strike and down dip within a highly prospective 6 km long mineralized corridor.

Argonaut Gold Inc. (TSX: AR) informó que el tribunal pospuso la audiencia relativa al permiso explosivo de Argonaut en su La Mina Colorada para permitir a la Secretaría de la Defensa Nacional (SEDENA) presentar las pruebas solicitadas por el tribunal respecto de la suspensión temporal del permiso de explosivos en la mina La Colorada de Argonaut. Se espera que el fallo se emita dentro de los 15 días hábiles posteriores a la fecha de la audiencia original (16 de abril de 2018), tal como lo exige la ley.

Marcio Fonseca, Goldplay’s Chief Executive Officer, stated, “Located only 30 km from the Company’s El Habal Project, the addition of San Marcial to our portfolio in the Rosario Mining District is an excellent complement to our strategy of consolidating a highly prospective 100% owned portfolio in a world class district. We are delighted with this opportunity and the addition of SSR Mining as a shareholder. The near surface high grade historical resource allied with preliminary historical metallurgical data encourages the Company to continue exploration aiming to expand the resource along the 3.5 km trend. The historical exploration results delineating 14 targets for precious metals explorations represent an upside exploration potential in San Marcial for future discoveries. The Company looks forward to advancing exploration programs at San Marcial”.

Brian Robertson, President and CEO, commented: “These initial high-grade sample results exceeded our expectations and further confirm historical reports on the high-grade vein structures at Pueblo Nuevo. We continue to discover more historical workings with our extensive on-going field exploration program.”

José Antonio Berlanga , CEO and Director, states: “As we near the end of the El Largo Zone development phase in preparation of initiating bulk mining methods within the next few weeks, we have been improving efficiencies at the mill resulting in successfully increasing zinc concentrate grades to an average of 43.54% zinc and lead concentrate grades to an average of 34.88% lead during the first two weeks of April 2018 . During this same two-week period, we have achieved improved zinc metal recoveries averaging 72.7% zinc into the zinc concentrates. As soon as we initiate the bulk mining methods, within the next several weeks, the mine will be able to deliver a more consistent mineralized mill feed, without excess dilution of mining development material from various areas within the large El Largo Zone . Processing mineralized mill feed of more consistent grade and quality, containing less dilution, should allow us to further improve concentrate grades and recoveries. In addition, bulk mining methods will allow us to ramp up pre-production towards the 2,500 t/d capacity of the mill and further reduce direct site costs of approximately US $48.5 per tonne. These current direct site costs are approximately 33% lower than the estimated direct site costs of US $72.26 per tonne used for the same categories in our recently published independent Preliminary Economic Assessment.”

N. Eric Fier, CPG, P.Eng and CEO, remarked, “With the addition of the Luigi Vein, we continue to grow our portfolio of high-grade mineralized veins and are beginning to understand the “nature of multiples” when it comes to projecting high-grade previous drill-intercepts in adjacent veins on to new discoveries. This is the tenth high-grade vein we have delineated in the district, which is immediately adjacent to the Las Chispas Vein and accessible by underground workings. The Luigi Vein is named after Luigi Pedrazzini, son of Giovanni Pedrazzini the founder of Minas Pedrazzini Gold and Silver Mining Company which operated at the Property from the late 1800s to 1930. We plan to further drill test the Luigi Vein during H1 2018 and include the results in the proposed updated resources in Q3 2018.”

Argonaut Gold Inc. (TSX: AR) reports that the has court postponed the hearing pertaining to Argonaut’s explosive permit at its La Colorada mine (see press release dated April 12, 2018) to allow the Secretary of National Defense (“SEDENA”) to provide evidence requested by the court regarding the temporary suspension of the explosives permit at Argonaut’s La Colorada mine. It is expected that a ruling will be issued within 15 business days of the original hearing date (April 16, 2018), as required by law.