Tag: Exploration and Development

Minera Saucito, ubicada en Fresnillo, ocupa el primer lugar en producción de plata a nivel mundial con 21.9 millones de onzas, ello de acuerdo con The Silver Institute, lo que implica movilidad económica para el estado, sostuvo Juan de Dios Magallanes Quintanar, director de Minería de la Secretaría de Economía.

President and Chief Executive Officer Allan Barry Laboucan said: “With the staking of these new areas we have built up an enviable portfolio of 100 per cent owned prospective lithium salars. Our land holdings now cover over 1 million acres, in two excellent infrastructure rich areas. Historical work and brine extraction by Sulfatos de Viesca from the Viesca salar was confined to the upper 100 metres, the possibility therefore exists that lithium-rich brines exist deeper in the salar. We are looking forward in the near future to an exploration program to identify and confirm lithium bearing brines in these new areas. We are also moving ahead with work to understand the chemistry and leaching characteristics of our Zacatecas salars, we hope in the near term to reach the pilot-plant testing stage as quickly as possible. Our long-term goal is to try to become one of the lowest cost producers of lithium, aided by our fertilizer chemicals as potential credits. Our exploration costs are low and we expect the same when we look toward the development of our lithium salars.”

“Acquisition of the SDA Mill will transform Magellan into a production company and will be an exciting development for our shareholders,” stated CEO Pierce Carson. “With production started already under the interim processing agreement, we have begun to execute on our strategy to resume processing operations, build production and increase cash flow.”

Millrock Resources Inc. is pleased to report that the first phase of surface exploration on the La Navidad gold project is near completion, and a drilling program has begun. The project, located in Sonora State, Mexico, 100 km north of the City of Hermosillo, targets orogenic gold deposits. Highlights of a rock sampling program include:

Matthew Idiens, CEO commented “As we near completion of the disposal, we are encouraged by the commitment shown by both parties with the interim milling agreement, allowing for operations to recommence at the SDA mill and Magellan taking on a fully operational business at completion. We look forward to updating the market shortly on progress.”

Thomas Atkins, President and CEO of Mammoth commented on the Private Placement stating: “We’re all set to drill. Mammoth’s VP Exploration, Richard Simpson was on site last week with the drill contractor finalizing logistics. Drill equipment will be mobilized shortly and it’s expected we should be able to commence drilling within a week of equipment and personnel arriving on site.

Candente Gold Corp. is pleased to announce that it has entered into a binding letter agreement with Sun River Gold Corp., a private Nevada corporation, to grant Sun River the right and option to further test and, if proven economic, develop and operate the Company’s tailings project in El Oro Mexico through Candente Gold’s Mexican subsidiary, CCM EL Oro Jales, S.A. de C.V., according to the agreement CCM EL Oro Jales executed with the Municipality of El Oro, subject to receipt of regulatory approval.

“The ongoing regional exploration in proximity to the existing underground mine continues to reveal promising results,” Managing Director Will Dix said. The Alfonsitos area, located north west of the current Plomosas mine, has the same geological setting to the mine itself and displays a similar style of mineralisation at surface. This providesfurther encouragement that there is potential for significant new discoveries and additional resource tonnes at Alfonsitos and within the existing tenement portfolio. Our immediate intention is to move straight to exploration drilling at Alfonsitos to determine the extent of the surface mineralisation at depth and continue assessment of other prospects identified within the region.”

Tawn Albinson, the President of Prospero Silver commented: “We were very pleased to encounter gold grades in some of the early shallow reconnaissance holes. The drill plan developed with Fortuna was designed to get a handle on structural controls on the highest priority targets before deeper drilling. We now see a strong correlation between the presence of black jasperoids after limestone and grade. A few more shallow holes will be required over the next two weeks to get a decent picture of the strike and dip of what we think are the controlling structures.”

The Calera project consists of four concessions covering 144 hectares within the Cucurpe Sonora mega-district. The Cucurpe mega-district includes Premier Gold Mines’ Mercedes gold mine, Goldgroup Mining’s Cerro Prieto gold mine, Agnico Eagle’s recently purchased Santa Gertrudis gold mine, and other nearby gold mineralized prospect areas. “Sonoro’s exploration team believes that the Cucurpe gold mega-district has the potential for additional gold discoveries,” said Kenneth MacLeod, President and CEO of Sonoro. “We are pleased to begin immediate exploration of Calera under the direction of our noted geologist Mel Herdrick, Sonoro’s head of exploration in Mexico, who has several gold discoveries to his credit.”