Tag: Exploration and Development

Telson Resources Inc. is very pleased to announce it has signed a term sheet of a Loan Facility and Offtake Agreement with Trafigura Mexico S.A. de C.V., a market leader in the global commodities industry, to sell 100% of the lead and zinc concentrate produced at the Tahuehueto Mine from January 1st 2018 to December 31st 2022. Trafigura will provide Telson with a credit facility of US$15 million upon signing formal agreements, thereby securing the bulk of the capital requirements to construct and operate an ongoing 1,000 tonne per day mining operation at Tahuehueto.

N. Eric Fier, CPG, P.Eng, President and CEO, remarked, “Another milestone has been completed for the Las Chispas Property which continues to show increasing significance as an emerging high-grade silver-gold district. Historically, there were five mills in the district before 1930, four cyanidation and one flotation, which gave us a good indication that the metallurgy would be amenable to standard processing methods. This indication has now been confirmed with testwork showing excellent metal recoveries. The Las Chispas mineralization is similar to that of the nearby producing Santa Elena Mine (constructed by SilverCrest Mines Inc., the predecessor of SilverCrest Metals), which has current metal recoveries of 90% or greater for both silver and gold. With this metallurgical milestone now behind us, we can more confidentially plan for our Las Chispas maiden resource in Q1 2018.”

“Our goals over the last 10 months have been to complete a resource upgrade and deliver a positive Scoping Study and I’m delighted that we have been able to achieve these objectives. We are confident that our strong technical understanding of the project given our access to the ore, existing plant and previous successful concentrate production will enable us to secure the funding necessary to advance the project.”

La minera de oro canadiense Goldcorp Inc reportó ayer miércoles que sus ganancias se dispararon un 88 por ciento en el tercer trimestre, ayudadas por devoluciones del impuesto a la renta y un aumento de las utilidades de su mina Peñasquito en México.

The El Tigre Mineral Resource Estimate includes extensions of the historical El Tigre and Seitz Kelly Veins1, as well as the mineralized breccia halo around the El Tigre Vein. The Fundadora Mineral Resource Estimate includes the Aquila, Fundadora, Protectora and Caleigh Veins2. The El Tigre Tailings Mineral Resource Estimate is comprised of tailings from the former El Tigre Mine operation.

N. Eric Fier, CPG, P.Eng, President and CEO, remarked, “Channel sampling in the newly rehabilitated historic underground workings in the Las Chispas Vein is defining continuous unmined areas with bonanza grades. Several of these channel results are within 30 metres of the recently announced drill hole LC17-45, which intercepted 1.9 metres of 8,803 gpt AgEq. This Bonanza Grade Area is easily accessible for potential bulk sampling and mining. This area is an example of the potential high value mineralization that we continue to systematically explore at the Property. We are driving our underground and surface programs at Las Chispas to deliver a maiden resource in Q1 2018.”

Alio Gold Inc today announced that it has awarded GDI STRACON GyM S.A. de CV the contract for developing the underground decline at the high grade, high margin Ana Paula project in Guerrero, Mexico. In addition, the Company has engaged JDS Energy and Mining to manage the contract and underground mining operation.

Warren Rehn, President and CEO of Golden Minerals, comments, “The results from Santa Maria show the continuation of the mineralized veins and provide initial support for our goal of doubling the size of the existing resource. Santa Maria appears to be an excellent opportunity for Golden to establish near?term new silver production in the Parral area at a very low capital cost. We are executing our exploration programs efficiently while retaining a healthy cash balance and without the need for additional financing.”

Thomas Atkins, President and CEO of Mammoth commented on the drill targeting stating: “We’ve completed the consolidation of all surface results from the various exploration activities on the property. This work has enabled Mammoth to identify what we feel are the most compelling drill targets to test gold mineralization over an approximate 6 kilometre strike length of surface gold mineralization within the High Sulphidation, precious metal mineralizing system at Tenoriba.”

“We are very pleased with our continued exploration success at San Acacio. The Phase 1 results significantly expanded the mineralized envelope of the San Acacio silver deposit. Mapping and mineralogical studies indicate that the mineralized system hosting the San Acacio deposit is tilted to the southeast. This suggests that drilling along strike could result in the discovery of new mineralized zones containing the full vertical extent of the mineralizing system. Our next step is to prepare for the commencement of an aggressive Phase II drill program targeting new high grade shoots within the 900 meter extension of the Veta Grande vein system to the southeast of the San Acacio deposit.” stated Roy Bonnell, President and CEO of Defiance Silver Corp.