Tag: Exploration and Development

MX Gold Corp is pleased to announce, further to its news release dated November 13, 2017, the delivery of 360 AvalonMiner 741 cryptocurrency mining systems (each, a “Mining Rig”), purchased from Canaan Creative Co. The purchase of the Mining Rigs equips the Company with a fleet of state of the art, digital currency extraction hardware. Each Mining Rig contains 88 x A3212 16 nm ASIC chips and boasts an in field Reliable Hashrate Per Second (RTHS) of up to 7.8. The Mining Rigs are housed in high-grade aluminum cases and employ innovative Airforming Cooling Technology, allowing more efficient heat dissipation. Coupled with access to contracted low-cost energy sources, the Company expects that the Mining Rigs set up will result in a competitive digital currency extraction environment.

CEO Paul Thompson stated, “I want our shareholders to understand that Mexus is moving forward with its plan become a major miner. The end game is to have multiple properties producing metals in the next few years. MarMar is well in control of the Santa Elena project which affords us the ability to move forward on our other projects. The coming months will be an exciting time for our shareholders as we announce new developments and plans on multiple properties.”

Mr. Stanford added, “In the 10 months of 2017 operations, prior to the illegal blockade, 241,000 ounces of gold were poured, and the plant was producing at approximately 90% of design capacity. We are optimistic that progress is being made in getting the operations re-started, and look forward to completing the ramp-up, finishing the SART Plant, and getting back underground into the Sub-Sill area. 2018 has the potential to be a catalyst rich year for Torex, for the benefit of our shareholders, employees, communities, and the thousands of families that depend on the operations for their livelihood.”

IMPACT Silver Corp. is pleased to provide an exploration update on a new and developing gold target within the Royal Mines of Zacualpan Silver District in central Mexico. Although work will be continuing on the silver-gold veins that have provided five centuries of historical production at the Zacualpan District, the work at Santa Teresa represents a new initiative for IMPACT’s exploration team to explore different sorts of mine making targets.

The Company has finalized its plans for a two-phase drilling program on the “Main Zone” at its 100% owned advanced exploration Pilar Gold Project in the Sonora State of Mexico. To date, Colibri has defined an in-house resource calculation on Main Zone deposit of 700,000 tonnes grading 1.9 g/t. This new program is designed to expand this resource and define it by NI 43-101 standards.

During the year following the December 2016 decision to exercise its right to earn back an ownership interest in the Alacrán project, Teck carried out exploration comprising geological mapping, surface geochemical sampling and geophysical (IP and CSAMT) surveys, with most activities focused in the western half of the property. This work confirmed two high priority targets which were tested by diamond drilling, with three rigs completing 11 holes totalling 4,905m.

“Sierra’s management team is extremely pleased with the significant increases realized in the measured and indicated resource, and the increase in inferred resources reported in this resource estimate for the Cusi Mine” stated Igor Gonzales, President and CEO of Sierra Metals Inc. “When compared to the previous estimate from January 2017, the Company saw a 129% increase to the measured and indicated resource tonnage and a 36% increase in the inferred resource tonnage. These increases represent a significant amount of additional drilling and mine exploration development work completed at the Cusi Mine which included the Santa Rosa de Lima Zone which has strong potential for further structural extensions of high-grade zones. Furthermore, the increased resource tonnage volume is a result of wider, higher-grade silver zones which are the foundation for the Company’s new operating plan which should significantly improve the cashflow prospects for Cusi in 2018 and beyond.”

N. Eric Fier, CPG, P.Eng, President and CEO, remarked, “Our continued drilling of the Babicanora Vein has shown consistent high-grades along the drill-tested strike length of over one kilometer, and this vein is open to the southeast and northwest. Currently, we are drilling an additional 10 to 15 surface holes at the Babicanora Vein to test for further extensions by mid-January 2018 in anticipation of releasing a maiden resource estimate for the Las Chispas Property in February 2018.”

Neil Woodyer, CEO stated: “A Measured and Indicated mineral resource of 2.1 million ounces provides a sound basis for preparation of mine design and mineral reserves. We continue our development program for Bermejal Underground and the ramp has advanced to 204 metres as of December 22, 2017.”

During the first quarter of 2018, exploration will continue at the El Tigre property with the focus continuing to be on locating and defining other high-grade vein systems on the property. The Company will also begin testing the potential of the favourable El Tigre formation along strike to the south of the El Tigre mine with geological and prospecting teams mapping and collecting rock and geochemical samples over a distance of 5 kilometers to the south between Gold Hill and the Lluvia de Oro prospect.