Tag: Exploration and Development

While KORES’s overseas assets will be sold off without exception, the ministry will not set sales deadlines to avoid the erosion of their value. Assets deemed strategically important in terms of metallic mineral supply will be sold to South Korean companies, with the related KORES employees to be laid off during the sales process. The corporation’s Overseas Resources Development Headquarters will remain in operation for a while for the maintenance and management of the assets.

Tawn Albinson, the President of Prospero said: “The limited program we’ve just finished demonstrates that the Pachua SE property hosts a number of blind epithermal veins with silver and gold mineralization; exactly what we’d hoped to see at the property. The discovery validates the science-based strategy we’ve applied to our exploration for blind epithermal targets; a strategy which we’ve implemented in the drilling and generative work with Fortuna. The next step at Pachuca will be additional drilling program to extend mineralization in the veins. “

Azure Minerals Limited is pleased to announce further high-grade zinc and lead assay results from its now-completed resource definition drilling program at the Company’s flagship Oposura Project.

“We are very pleased that the authors of the technical report have validated our exploration model for sediment-hosted copper on the Manto Negro property”, stated Michael McPhie, Prize’s President & CEO. “Our initial work on the property has already returned very encouraging results with high copper and silver grades. We now intend to expand our exploration program to further demonstrate the district-scale and near term production potential of the project.”

As one of the geologists on site commented, “Finding these old mines that have been lost to the jungle for 100 years really has an Indiana Jones feel to it. It’s easy to forget that we’re drilling off a paved road a few kilometers away.”

Bradford Cooke, Endeavour CEO commented, “We have made very good progress in enhancing many of the operating parameters and developing our working knowledge of this proposed mine. While we are waiting for the final government permits for Terronera, we will continue refining our studies over the next few weeks, and we plan to release an updated PFS once the permits are approved.”

Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “Our exploration team, lead by geologist Jose de Jesus Parga (former head of Geological Survey of Mexico), is excited to get started with our new exploration program. At the Tabasquena vein, which can be traced on surface through outcrops for 2000 metres, all historical mining was focused on a small portion of the vein at its furthest lateral extent. What makes this such a compelling silver exploration target is that only the oxidized portion of the epithermal vein had been mined in the 1970s by Penoles, no mining or drilling has ever been completed into the sulphide portion…”

Robert Willis, San Marco’s CEO commented, “Our understanding of this new discovery has rapidly advanced in the last three months. We now have a type deposit to use as an exploration guide and we’ve enlarged the field crew to accelerate advancement of the discovery. It’s encouraging to know there are successful mines based on the same deposit type elsewhere in the world. Like Chunibas, Chilean deposits have mineralized zones that can be visually subtle and contain few accessory minerals that respond to indirect survey methods. We need to map and sample outcrop exposures in detail to maximize the effectiveness of a maiden drill campaign. We’re working hard to get that done as quickly and completely as possible.”

Aztec Minerals Corp. recently participated in a Mexican government land lottery and was awarded two new mineral concessions covering approximately 3,149 hectares adjacent to the Cervantes property in Sonora, Mexico. Combined with the 500 hectares currently under option from Kootenay Silver, Aztec’s land position at Cervantes has now expanded more than six fold to 3,649 hectares.

Oceanus Resources Corporation is pleased to announce that it has added 4,465 hectares to its El Tigre claim package. This represents an increase of 20% for a total land package of 26,307 hectares.