Tag: Exploration and Development

Mexican Gold Corp. is pleased to announce its 2018 Phase 1 Exploration Program at the Las Minas property, Veracruz State, Mexico. The program will focus on resource expansion drilling to increase the initial 43-101 mineral resource estimate as well as exploration drilling to expand known mineralized zones. Additionally, field work will be carried out to identify new mineralized zones.

“We believe that moving ahead with a PEA is the next step to demonstrating value to our shareholders and a quintessential step in our due diligence process”, said Robert Eadie, CEO and President of Starcore. “Our goal is to identify the economic viability of an underground operation and the processing of material on our property.”

San Marco’s CEO, Bob Willis stated: “This most recent discovery is further evidence of the regional implications of this very large mineralized system. Our recent drilling at the Santa Fe target at Chunibas discovered wide intervals of gold mineralization in hydrothermal breccias. Our newest discovery is primarily copper and silver mineralization in a different geological environment, over an area, which is open in all directions. While sampling is, by necessity, confined to outcrop exposures it is important to note that mineralization has been discovered in most exposures within a large and growing area. Every effort was made to generate representative rock chip samples of entire individual outcrop exposures. There is no evidence that this zone was previously explored or sampled. Management considers this new discovery highly significant and is following up on it aggressively.”

Tim Barry, President, CEO and director of Silver Bull states, “350 meters of historical workings were opened up along the east-west trend of the sulphide mineralization we drilled in 2017. This channel sampling program clearly shows the continuation of high grade mineralization towards the west. Our underground geological mapping shows a number of high angle structures up to 2 meters wide containing sulphide mineralization grading up to 1,300 grams per ton silver, 42% zinc, 18% lead, and 13% copper that appear to feed into the overlying oxide zone. Our plan for the first part of 2018 is to walk our drill rig along these newly opened up east-west underground workings with the view of demonstrating continuity of the mineralization. The exceptionally high zinc numbers we see in the new area is consistent with what we see in other areas we drilled in 2017 and presents an exciting new target. In addition to the continued drilling along the sulphide trend we expect to have additional results from our 2017 drill program out to the market shortly”.

Tawn Albinson, the President of Prospero Silver commented: “Petate is the second project of three selected for first-pass drilling as agreed with our strategic partner Fortuna Silver. Under our arrangement with Fortuna, when we have completed drilling three projects, they have the right to select one for a joint venture. We are happy with the results at El Petate. In particular, holes 1, 9 and 11 have highlighted interesting grades over intervals of up to 24.9m downhole, although with unknown strike extent, indicating prospective deeper targets for a follow-up program. We are strongly aligned with Fortuna to drill as many of Prospero’s projects as possible, hence the plan to mobilise onto the next target, Pachuca SE, as soon as possible — hopefully in January. The Pachuca SE target lies about 20km southeast of the Vizcaina vein, one of the largest silver-rich epithermal veins in the world.”

Carlos Silva, COO of Santacruz, stated “The purpose of this diamond drilling campaign is to confirm the width and grade of the Veta Grande vein at depth which will allow us to properly develop a mine plan to deliver mineraized material to the expanded Veta Grande mill” Mr. Silva continued “These ongoing activities at Veta Grande will result in more reliable operations and provide a solid base for growing the Company.”

Minera Alamos Inc. is pleased to announce the completion of the geotechnical studies required for the approval of its mine development permits for the La Fortuna Gold Project in Durango, Mexico. The study results which include the design of the tailings containment facilities comprise the final data package to be submitted by the Company’s environmental consultant (Consultoria Ambiental Vugalit, S.C.) to the Mexican Federal Environmental Agency (Secretaria de Medio Ambiente y Recursos Naturales or “SEMARNAT”) as part of the mine permitting approval process. Based on the feedback received to date, the target for approval of these permits remains early second quarter in 2018.

Canuc Resources Corporation is pleased to provide an update on exploration at the San Javier Silver-Gold Project in Sonora State, Mexico.

Cameron King, Vangold CEO advises, “The drilling program is to define and expand the potential mineralization at El Pinguico. We are fully aware of the historical cutoff grade mined at 15g/t AuEq, now it’s our job to prove it. With drill results, we can define a resource over the UG stockpile and document its value. Phase 2 drilling is the start of Vangold’s future growth strategy, proving the El Pinguico vein system continues at depth adds years of development and production.”

Leagold CEO Neil Woodyer stated: “On closing of the acquisition last spring, we immediately launched an aggressive drill program to unlock the potential of the Bermejal Underground deposit. The exploration team has done a great job completing this important program on schedule and working with our consultants to produce updated resource estimates that doubled our Measured and Indicated resources. Today’s results are consistent with what we have encountered throughout the drill program to date, and several areas of high-grade mineralization have been defined. We continue development of the underground ramp which has now advanced to 281 metres, and expect to have access to a test mining area by mid year. The expansion of the resource and development of the project are delivering value to our shareholders.”