Tag: Exploration and Development

Robert Willis, San Marco’s CEO stated; “The IP survey has generated a classic “textbook” porphyry-style geophysical target. These geophysical results add additional support to our theory of significant vertical extent below the large surface footprint. Drill hole collars are expected to be located at or near copper/gold/moly mineralization, which has been locally, identified right at surface. Each new layer of data that has been generated at 1068 has simply strengthened the target potential.”

Joey Wilkins, CEO of Aztec, commented: “The first eight drill holes have tested about half of the 750 m long, +0.5 gpt gold soil anomaly at California. Mineralization intersected to date starts at surface in most holes and averages more than 100 m thick.”

N. Eric Fier, CPG, P.Eng and CEO, remarked, “The delivery of this maiden resource estimate is a major milestone for SilverCrest Metals as we continue to systematically expand high-grade mineralization in the district and fast-track the advancement of Las Chispas. In late 2017, we were targeting a total resource number around 40 to 50 million ounces AgEq grading an estimated 500 gpt AgEq but with the recent multiple high-grade intercepts in Area 51, this target has been exceeded. Area 51 (near-surface Babicanora Vein extension) alone has an estimated 32.2 million contained AgEq ounces, grading an impressive 7.43 gpt Au and 469 gpt Ag, or 1,026 gpt AgEq and is open for potential expansion. The Area 51 resource is similar to the 1800s historic production from the adjacent Las Chispas Vein which was approximately 30 million ounce AgEq grading an estimated 15 gpt Au and 1,700 gpt Ag. With continued drilling success, the Company intends to complete an updated resource and plans to prepare a Preliminary Economic Assessment (“PEA”) in H2 2018. Congratulations to our SilverCrest team, contractors, consultants and associated communities for making this impressive high-grade precious metal discovery and maiden resource possible.”

“Recent drilling continues to expand the footprint of Zone 120,” stated Darren Blasutti, President and CEO of Americas Silver Corporation. “These results have increased our confidence that Zone 120 will become an important part of the Company’s near-term future. We expect that evaluation of development scenarios will start immediately after all new drilling data has been incorporated into an improved mid-year resource estimate.”

Fred Stanford, President & CEO of Torex stated: “Our understanding is that the Lease Agreement in place is the second most generous land agreement for mining in the country. The fact is this small group of families does not have the legal authority to speak for the Ejido, and they do not have the support of the Ejido to challenge the Lease Agreement or to conduct these illegal activities. We have no intention of being extorted to change what is already a fair and lucrative contract.” He added: “This illegal, thuggish behavior on the part of a few families and an outside union is a blatant attempt to intimidate and extort the Company. I want to be clear in saying that when Torex is scheduled to return to mining in EL Limon Pit, the Company’s employees will do so, and will not be intimidated.”

Mexus Gold US announced that progress at the Ures project continues and is on pace. Cesar Lemas, project manager for the Ures project, recently completed the construction of access roads on the Ures, El Scropio, and 370 concessions. In addition, he continues to take samples from the area to be initially mined and is extremely happy with the assay results. Mr. Lemas added, “Based on my sampling, I can say that we should average 5 grams per ton Au from our VAT leaching system.”

“This is a significant step towards extending the life of the San Sebastian mine, and is in keeping with our strategy of maximizing the cash flow and minimizing capital investment by using third-party facilities,” said Phillips S. Baker, Jr., Hecla’s President and CEO. “We will take a bulk sample in the third quarter and if it is positive could begin mining sulphide ore next year. San Sebastian sulphides have the potential for five years of mine life and considerable upside with the recent exploration discoveries. We hope to mine oxides and sulphides concurrently since this agreement does not impact the current arrangement where oxide ore from shallower depths of the mine is being processed at the third-party owned Velardeña mill.”

“We are very pleased to begin this partnership with Hecla to process ore from the San Sebastian Mine, 42 kilometres northwest of our Milling Facility,” stated Brendan Cahill, President and CEO of Excellon. “This arrangement provides opportunities for additional operating cash flow to the Company and lower milling cost per tonne and all-in sustaining cost from Platosa. Our Milling Facility’s exceptional scalability has made this opportunity possible, with ample capacity remaining to process increased Platosa production and potential new discoveries at either Platosa or Miguel Auza.”

Oroco Resource Corp. is pleased to announce that it has acquired, through its wholly-owned Mexican subsidiary, Minera Xochipala, S.A. de C.V., a 77.5% interest in each of the La China II and Amp. Santo Tomás Reduccion 1 mineral concessions from Santo Tomas Metals, S.A. de C.V., and a 77.5% interest in an application for the Papago 17 mineral concession from Ubaldo Trevizo Ledezma of Choix, Sinaloa. In aggregate, the three properties comprise approximately 6,978 ha and abut and surround the Santo Tomas copper porphyry properties in Sinaloa, Mexico. Please see the attached map for references.

“Drilling underground continues to define high quality mineralization around the current mantos,” stated Ben Pullinger, Vice-President, Geology. “Identifying near-term mineable mineralization remains a priority for the underground diamond drill rig, as we work towards defining structural controls that may lead to further discoveries of manto and feeder-style mineralization.”