Tag: Exploration and Development

BACANORA MINERALS LTD. (AIM:BCN) is pleased to provide an update on activities at its flagship Sonora Lithium Project in Mexico. This update is in line with the Company’s objective to commence the construction of a 35,000 tpa lithium carbonate operation at Sonora in H1 2018, targeting first production in Q1 2020. A recently completed Feasibility Study demonstrated Sonora’s potential to become a leading supplier of high value lithium products to fast-growing industries, such as electric vehicles and energy storage. The FS demonstrated strong economics of US$1.25billion NPV; 26.1% IRR; and life of mine gross operating costs of US$3,910/t Li2CO3, which are comparable to those of the low cost brine producers of South America.

Fred Stanford, President & CEO of Torex stated: “We are more than pleased that we can now get back to unimpeded operations and value creation for the Company’s shareholders and all stakeholders. During the first quarter, the quality of the team, and the asset, were clearly evident as they pulled together under very challenging operating conditions and produced 67,000 ounces of gold in Dore. They also shipped 8000 gold ounces in carbon fines.Looking forward, the operations are well positioned to complete the ramp-up in 2018 and to move forward with optimization and development initiatives.” He added; “A special thanks goes out to the employees, community members, community leaders, and so many others who have provided the support that was necessary to facilitate production during this difficult period, and to peacefully resolve this dispute over union representation.”

“We are excited about the strong success of the infill and near-mine drill programs so far in 2018 at both of our properties,” said Darren Blasutti, President and CEO of Americas Silver Corporation. “At Zone 120, eleven of the latest thirteen holes delivered significant mineralization over impressive widths. Zone 120 is becoming a substantial deposit with the potential to become the Company’s next operating mine. At Galena, high-grade strike extensions on the 366 FW and step out success on the 164-168 vein system both on the 4900 level means higher grade near-term production and resource additions in these areas.”

Southern Silver Exploration Corp. (TSX.V: SSV) reported today that a 2018 budget totaling US$3 million has been approved by the joint venture partners for exploration work at the Cerro Las Minitas project, Durango Mexico. The program comprises 13,000 metres of drilling in two phases which will target both the systematic resource expansion in the Area of the Cerro containing the existing Mineral Resource Estimate and continued surface sampling and reverse circulation drilling on new discoveries in the recently staked CLM West claim group.

Riverside’s President and CEO, John-Mark Staude, stated: “We are pleased that results of our reconnaissance fieldwork at Ariel are supportive of the possible existence of porphyry copper mineralization. Riverside continues to build upon our alliance funded work to expand the targets defined. The Project, which was acquired through claim staking at minimal cost, is ready for follow-up exploration programs. Riverside continues to progress with the Project Generator business model and uses our team of experienced geologists to acquire and work up highly prospective assets.”

Marcio Fonseca, Goldplay’s Chief Executive Officer, commented: “We are very satisfied with the results of the ground geophysical survey program, supporting our exploration strategy to create a solid foundation for drill target generation to advance exploration on the El Habal Project.”

“The Ermitaño West and Aitana veins lie only four kilometres south of the operating mill at Santa Elena and remain to be explored at depth where First Majestic stated it expects to recover higher concentrations of gold and silver, in particular at Aitana,” commented Paddy Nicol, Evrim President and CEO. “First Majestic has announced plans to complete 13,000 metres of infill and expansion drilling at depth at Ermitaño West in 2018, as well as explore the recently discovered Aitana vein.”

Candente Gold Corp. (TSXV:CDG) is pleased to announce that Sun River Gold plans to conduct a drilling program to further test the Mexico Mines Tailings Deposit. The drill is currently being mobilized from the USA to El Oro, Mexico and drilling will commence once all approvals have been received from Mexican authorities.

High grade zinc assays continue to be obtained from infill and extensional drilling of the Tres Amigos resource. The drill campaign aims to convert inferred to indicated classifications and increase resource tonnages.

“The results from the surface drilling continue to be extremely encouraging. Firstly, they continue to confirm and provide further detail on the extent and continuity of the complex breccia mineralization below the proposed pit,” said Greg McCunn, Chief Executive Officer. “In addition, the hydrothermal breccia structure that lies south of the proposed pit continues to show mineralization over wide intersections near surface and may turn out to be a second mineralized breccia pipe altogether. We are looking forward to seeing the results from the next three drill holes to see how this develops.”