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Plata Latina Announces Sale and Royalty Agreement with Fortuna on the La Joya Project
https://www.newsfilecorp.com/release/220788
August 22, 2024 9:00 AM EDT | Source: Plata Latina Minerals Corporation
Vancouver, British Columbia--(Newsfile Corp. - August 22, 2024) - Plata Latina Minerals Corporation (TSXV: PLA) ("Plata Latina" or the "Company") is pleased to announce that, through its wholly-owned subsidiary Plaminco S.A. de C.V., it has entered into an agreement with a wholly-owned subsidiary of Fortuna Mining Corp. ("Fortuna") wherein Plata Latina has assigned to Fortuna the mining concession for the La Joya Project (the "Project") in consideration for the right to receive a royalty of 2% of the Net Smelter Returns ("NSR") on the Project commencing at the start of commercial production on the Project. Fortuna may at any time acquire 1% of the NSR for US$1,000,000. The La Joya Project is located in the state of Hidalgo, Mexico.
"We are pleased we are able to retain exposure to the future upside at the La Joya Project and add another royalty to our Company," stated Letitia Wong, Plata Latina's President and CEO. "We now have two royalties in our portfolio as we continue our strategic review of Plata Latina and explore potential transformational transactions. With both cash and cash flow, we are taking the time to thoroughly evaluate various opportunities."
Plata Latina also has a royalty agreement with a wholly-owned subsidiary of Fresnillo plc on the Naranjillo Property. The Company currently receives advance royalty payments of US $100,000 until the earlier of (i) US $1,000,000 of advance royalty payments have been paid, or (ii) Naranjillo commences commercial production of minerals. The Company also was granted a 3% NSR royalty. Naranjillo is located in Guanajuato, Mexico.
About Plata Latina Minerals
Plata Latina Minerals was a Canadian exploration company with mineral properties in Mexico. The Company sold its Naranjillo Property to Fresnillo plc for a total of US $2,150,000 and currently receives advance royalty payments of US $100,000 until the earlier of (i) US $1,000,000 of advance royalty payments have been paid, or (ii) Naranjillo commences commercial production of minerals. In addition, the Company was granted a 3% net smelter return royalty (NSR). The Company also has a 2% NSR on the La Joya Project, which is indirectly owned by Fortuna Mining Corp.
For more information, please contact:
Patricia Fong
Chief Financial Officer
Telephone: +1 800 933 9925
Email: info@plminerals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Plata Latina Minerals Corporation
Ranchero Enters Into a Letter of Intent to Sell Mexican Subsidiary, and Related Party Loan
https://ca.finance.yahoo.com/news/ranchero-enters-letter-intent-sell-110000469.html
Ranchero Gold Corp.
Wed, August 21, 2024 at 4:00 a.m. PDT·5 min read
AGI
+0.80%
RNCHF
0.00%
VANCOUVER, British Columbia, Aug. 21, 2024 (GLOBE NEWSWIRE) -- Ranchero Gold Corp. (“Ranchero” or the “Company”) (TSX.V:RNCH) is pleased to announce that has entered into a letter of intent to sell its wholly-owned subsidiary Minera y Metalurgia Paika, S.A. de C.V. (“Paika”) to an arm’s length party purchaser for nil consideration.
The sale of Paika, which includes four licenses totaling 16,876 hectares on the Santa Daniela project area, regional water rights and a conditional payment of US$2,500,000 pursuant to the sale by Paika of four mineral licenses to Minas de Oro Nacional, S.A. de C.V., a wholly-owned subsidiary of Alamos Gold Inc. (TSX:AGI) as detailed in the Company’s press release on June 19, 2024 (“Conditional Payment”), will offset accrued liabilities in Paika of $3,545,852 of land fee payments and accrued interest due on the Santa Daniela mineral concessions (collectively, the “Liabilities”) along with a potential finder’s fee in related to the Conditional Payment, as detailed in the press release of June 19, 2024. Under the terms of the transaction, the Liabilities will be assumed by the arm’s length purchaser and will not be transferred to Ranchero or its associates and affiliates. The letter of intent is subject to the Company completing its due diligence. The parties intend that the letter of intent will be replaced by a definitive share purchase agreement between the parties to complete the sale of Paika.
Jesus Noriega, interim Chief Executive Officer of Ranchero said, “The sale of Paika is a watershed moment for the Company, substantially reducing the liabilities of the Company and providing a platform from which we can focus our efforts on continuing to exploring the Pinchi Lake nickel project as well as opportunistically looking at new projects.”
Loan to Related Party
The Company announces that it has agreed to loan up to $30,000 (the “Loan”) to Toro Silver Corp. (“Toro”), a private British Columbia company. The principal amount of the Loan will accrue interest at a rate of 15% per annum. The outstanding balance of the Loan will be repayable upon demand of the Company after December 31, 2024. The Company will advance the Loan to Toro to pay for the audit of Toro’s financial statements. The Loan is evidenced by the terms of a demand promissory note between the Company and Toro. The Loan is subject to the approval of the TSX Venture Exchange.
The Loan constitutes a “related party transaction” for the purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”), as Gustavo Mazon and Martyn Buttenshaw are directors of both the Company and Toro, Martyn Buttenshaw is the Chief Executive Officer of Toro and Gustavo Mazon has control and direction of the Company and Toro. The Company is relying upon exemptions from the formal valuation and minority shareholder approval requirements under MI 61-101 in respect of the Loan, in reliance on Sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the Loan does not exceed 25% of the Company’s market capitalization as determined in accordance with MI 61-101. The Company obtained approval by the board of directors of the Company to the Loan, with Messrs. Buttenshaw and Mazon declaring their interest and abstaining on the resolutions. No materially contrary view or abstention was expressed or made by any director of the Company in relation thereto.
About Ranchero Gold
Ranchero is an exploration and development company currently focused on the Pinchi Lake Nickel Project (the “Pinchi Project”). Ranchero can earn a 100% interest in the Pinchi Project, consisting of six mineral claims totaling 3,917 hectares, situated approximately 15 to 30 km northwest of Fort St. James and 120 km northwest of Prince George in central British Columbia.
On behalf of the Board of Directors of the Company:
Jesus Noriega
Interim Chief Executive Officer and Director
For further information, please contact:
Jesus Noriega
Interim Chief Executive Officer and Director
52 1 (662) 437 8520
info@rancherogold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements
This news release contains certain forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate” “plans”, “estimates” or “intends” or stating that certain actions, events or results “ may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), or that are not statements of historical fact, may be “forward-looking statements”. Forward-looking statements contained in this news release include, but are not limited to, statements regarding the terms and completion of the sale of Paika, including entering into a share purchase agreement, and the terms and completion of the Loan.
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements. These risks and uncertainties include but are not limited to: risks related to regulatory approval, risks related to financial markets and mining companies generally, and risks related to changes in foreign laws and changing policies related to mining and local ownership requirements or resource nationalization generally. There can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
Colibri Samples 4.64 g/t Au at the EP Project, Caborca Gold Belt, Sonora,
https://www.newsfilecorp.com/release/220792
Mexico August 22, 2024 9:48 AM EDT | Source: Colibri Resource Corporation
Dieppe, New Brunswick--(Newsfile Corp. - August 22, 2024) - Colibri Resource Corporation (TSXV: CBI) (OTC Pink: CRUCF) ("Colibri" or the "Company") is pleased to report the results of geological mapping and outcrop sampling recently completed on the Plomo property at the EP gold project located in the Caborca Gold Belt, NW Sonora. Highlights include outcrop grab samples which returned values up to 2.99 grams per tonne ("g/t") Au which extend the footprint of surface mineralization at the San Perfecto target approximately 350 meters ("m") and samples from La Culebra target area that returned values up to 4.64 g/t Au occurring over a strike length of approximately 650 m.
Ian McGavney, President & CEO of Colibri commented: "The southwest part of the San Perfecto area is on the books as a priority drill target for Colibri. We are extremely pleased with the results of the recent mapping and sampling at San Perfecto which expanded the area of known mineralization and thereby the scope and potential of our drill target. The work at La Culebra has confirmed historical sampling and demonstrates discovery potential over a 650 m strike length which remains open. We are very encouraged by the common copper occurrences at La Culebra. Reporting these new results from our most advanced, highest priority target and from one of our earlier stage targets clearly demonstrates the significant discovery potential of the large EP property position"
San Perfecto Target
Work recently completed at the San Perfecto target area includes geological mapping and the collection and assay of 29 outcrop grab samples. Results include 14 samples which returned values greater that 0.1 g/t Au, including 9 samples greater than 0.5 g/t Au and 6 samples greater than 1.0 g/t Au, that define a cluster of mineralized outcrops which extend the footprint of known surface mineralization at San Perfecto approximately 350 m to the east-southeast. The footprint of mineralization at San Perfecto is now approximately 1,250 m by 700m and remains open to the southeast (see figure 1). The mineralization is hosted by moderately to strongly foliated and altered diorite. Alteration consists of strong silicification and sericite with disseminated and oxidized fine grained pyrite. Quartz micro-veinlets are locally recognized in the higher-grade samples. The diorite host rock and style of mineralization is continuous for approximately 1 km to the northeast at the San Perfecto target. The domain of foliated, altered, and mineralized diorite is coincident with a northeast magnetic low trend and overlies a strong apparent chargeability anomaly.
The San Perfecto target area is characterized by variably to strongly altered volcanic and intrusive rocks. Anomalous to high grade gold mineralization is associated with fine grained pyrite bearing altered rocks, altered rocks with veinlets and vein stockworks, and with larger veins hosted by fault zones. A total of 616 samples are reported from the San Perfecto Target surface area (102 by Colibri and 514 historical) of which 315, approximately 50%, have returned values greater than 0.10 g/t Au and 213, approximately 35%, have returned assay values greater than 0.25 g/t Au. Ninety-one samples (approximately 15% of the total) have returned Au assays greater than 1.00 g/t with the highest grades, up to 58.9 g/t Au being associated with strong silicification and veins in faults zones. A number of historical (artisanal) pits have been developed in the San Perfecto area including a larger production pit with a surface opening approximately of 35 m x 30 m. Only two exploration holes have been drilled in the area and both have intersected significant mineralization. Supported by interpretation of magnetic and IP data sets, the Company has interpreted the San Perfecto area as being indicative of a well developed high level orogenic gold system with the potential to host economically significant mineralization. The San Perfecto is a top priority target on the EP project.
Figure 1: San Perfecto Samples Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/220792_a946ef2424a7aaa3_001full.jpg
La Culebra Target
La Culebra target area is located approximately 3 km to the southeast of the prioritized core target areas on the Plomo property. The recently completed work was undertaken to follow up on historical assays with reported values up to 4.28 g/t Au. A total of 34 grab samples were taken from La Culebra target area; 14 of the samples returned assay vales greater than 0.1 g/t Au, which includes 9 samples greater than 0.5 g/t Au, 5 samples greater than 1 g/t Au, and high values of 4.64 and 4.46 g/t Au. Mineralization is hosted by rusty zones which were mapped over a 650 m strike length in a northeast direction and coincident with an andesite-rhyolite contact (Figure 2). The rusty zones host historical test pits. Alteration consists of quartz, sericite and oxidized pyrite and common malachite occurrences.
Figure 2 - La Culebra Samples Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/220792_a946ef2424a7aaa3_002full.jpg
About the EP Project and Next Steps
The EP Gold Project is located within the Caborca Gold Belt ("CGB") of northwestern Sonora and is comprised of the Evelyn and the Plomo properties covering a total of 4,766 hectares ("Ha"). The northwest trending CGB is approximately 500 km in length and is characterized by a number of orogenic-type gold deposits, prospects, and occurrences including the > 15 million ounce La Herradura Mine, located 25 km west of EP, the > 2-million-ounce Noche Buena Mine located approximately 8 km southwest of EP, and the past producing Soledad-Dipolos Mine (> 3 Moz Au) located approximately 32 km to the northwest of EP (see figure 3).
Figure 3: EP Project location within the Caborca Gold Belt
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/220792_a946ef2424a7aaa3_003full.jpg
The Evelyn property was acquired by the Company in 2012 and the acquisition of the Plomo property was completed in March of 2023. On the Evelyn property, Colibri has completed comprehensive surface exploration including soil sampling, geological mapping and outcrop sampling, an airborne magnetic survey, and a property wide induced polarization survey. Since February 2020, Colibri has drilled a total of 12,333 metres (total of reverse circulation and core drilling) and is advancing mineralized zones at the Main Zone, El Sahuaro, and West Sahuaro. On the Plomo property, the Company has compiled historical exploration data and has completed earlier stage exploration programs which included geological mapping and outcrop sampling at selected target areas on the property.
The Company is continuing to advance its EP project-wide interpretation and exploration model and has identified 14 target areas (see figure 4) with recent and historical work that includes high grade grab samples from outcrop, high grade grab and channel samples from historical mine working, and drill intercepts that are both locally high grade and are consistent with grades being mined in the Caborca Gold Belt. Current work includes interpretation and inclusion of the airborne (drone) magnetic survey over a selected part of the Plomo property that was completed in January, 2024 and recent mapping and sampling to plan and prioritize drilling and continued surface exploration.
Figure 4: EP Project Targets
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/220792_a946ef2424a7aaa3_004full.jpg
QUALIFIED PERSON
Jamie Lavigne, P. Geo and a Director for Colibri is a Qualified Person as defined in NI 43-101 and has reviewed and approved the technical information in this press release.
ABOUT COLIBRI RESOURCE CORPORATION:
Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) and is focused on acquiring, exploring, and developing prospective gold & silver properties in Mexico. The Company holds four high potential precious metal projects: 1) 100% of EP Gold Project in the significant Caborca Gold Belt which has delivered highly encouraging exploration results and is surround by Mexico's second largest major producer of gold on four sides, 2) 49% Ownership of the Pilar Gold & Silver Project which is believed to hold the potential to be a near term producing mine, and 3) two highly prospective interests in the Sierra Madre (Diamante Gold & Silver Project and Jackie Gold & Silver Project.
For more information about all Company projects please visit: www.colibriresource.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements". Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.
For information contact: Ian McGavney, President, CEO and Director, Tel: (506) 383-4274, ianmcgavney@colibriresource.com
SOURCE: Colibri Resource Corporation
VIZSLA SILVER PROVIDES EXPLORATION UPDATE ON PANUCO PROJECT: OUTLINES 10KM DRILL PROGRAM TO TEST NEW TARGETS IN THE EAST AREA
https://www.newswire.ca/news-releases/vizsla-silver-provides-exploration-update-on-panuco-project-outlines-10km-drill-program-to-test-new-targets-in-the-east-area-817884966.html
Vizsla Silver Corp. Aug 21, 2024, 06:00 ET
NYSE: VZLA TSX-V: VZLA
Pantera Silver Announces Corporate Update and Strategic Focus
https://www.newsfilecorp.com/release/220582
August 20, 2024 2:33 PM EDT | Source: Pantera Silver Corp.
Vancouver, British Columbia--(Newsfile Corp. - August 20, 2024) - Pantera Silver Corp. (TSXV: PNTR) ("Pantera" or the "Company") is pleased to provide a corporate update on its ongoing initiatives and strategic direction. As a junior resource company focused on exploration primarily for silver, it has always been a key focus of the Company to advance work at the Nuevo Taxco Silver Project and acquire additional silver exploration assets.
Upcoming Exploration at Nuevo Taxco
The Company is currently evaluating various options to restart exploration work on our Nuevo Taxco Silver project located near the municipality of Taxco - the historical silver capital of Mexico. Work is targeted to commence in the third quarter of 2024. The Company will disclose work program details once finalized. However, work will likely focus on initial sampling and mapping in the "Southwest Zone" of the Nuevo Taxco concession. A major mining company has been actively exploring near the western border of the Southwest Zone, where targeted veins are known to strike onto the Nuevo Taxco concession. The company's initial exploration drilling on Nuevo Taxco is a promising start, and the project holds potential for further exploration with the majority of the approximate 1,100 hectares considered under-explored.
Strategic Focus on Asset Acquisition for Silver
Pantera Silver Corp remains committed to capitalizing on the current market dynamics, which present advantageous opportunities for asset acquisition. The Company is actively pursuing potential acquisitions to enhance its balance sheet and secure high-potential assets that align with its long-term objectives.
Portfolio Development
Our primary goal has consistently been to build a robust portfolio comprising 2-3 high-quality projects focused on silver. This strategic approach ensures that we are well-positioned to expand the opportunity to deliver value to our shareholders through discovery.
About Pantera Silver Corp.
Pantera Silver Corp. is a mineral exploration and development company committed to enhancing shareholder value by advancing a diverse portfolio of mineral projects through collaborative partnerships and highly experienced technical teams. Pantera will continue to seek out and secure high-quality, unencumbered projects through research, staking and strategic acquisitions. Throughout the process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities that build lasting relationships through honest and respectful business and environmental practices while contributing to the growing needs of mined raw materials for a new green economy. For more information visit http://www.panterasilver.com, or email panterasilvercorp@gmail.com.
On behalf of the Board of Directors
"Jay Roberge"
CEO/Chairman
Pantera Silver Corp.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements in this press release include that we can complete the Private Placement. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Pantera Silver Corp disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except as required by law.
Not for distribution to United States newswire services or for release publication, distribution or dissemination
directly, or indirectly, in whole or in part, in or into the United States.
SOURCE: Pantera Silver Corp.
Radius Gold Extends Drill Program on Plata Verde Silver Project
https://thenewswire.com/press-releases/1B2aFpDOg-radius-gold-extends-drill-program-on-plata-verde-silver-project.html
August 23, 2024 – TheNewswire – Vancouver, British Columbia – Radius Gold Inc. (TSXV: RDU) (“Radius” or the “Company”) is pleased to announce initial results of the exploration program on its Plata Verde silver project in Chihuahua, Mexico. Radius, in partnership with Minera San Julian, S.A. de C.V. (“Minera San Julian”), a wholly owned subsidiary of Fresnillo plc (“Fresnillo”), are targeting bulk minable, underground silver resources at the historic Plata Verde mines.
The first batch of assay results from Plata Verde’s drill program has been received, with the first four holes, PV-01 to PV-04 totalling approximately 900m in drilling, focused on the eastern side of the valley. These initial drill holes cut several zones of low-grade silver mineralization and indicate limited potential for an economic discovery in the eastern extension of silver mantos. However, encouraging results have been achieved on the western side of the valley with drill holes PV-05 through PV-08 showing greater thickness of the basaltic host rock and improved visual mineralization (assays pending).
The most recent hole drilled, PV-09, located further northwest (Figure 1: Plata Verde Drill Program), intersected visually improved results, cutting through greater width of basaltic host and encountering visibly the most attractive mineralization seen so far in this drilling program. The improving visual results as the drill rig moves west has prompted the JV partnership to extend the planned drill program, adding three additional drill holes to test the extension of this target zone.
“We are excited to continue drilling at Plata Verde, particularly with the results from PV-09,” stated Bruce Smith, CEO/President of Radius Gold. “The decision to extend the drill program reflects our commitment to fully explore and unlock the potential of this project.”
Radius Gold will continue to provide updates as the drilling progresses.
Figure 1: Plata Verde Drill Program
Click Image To View Full Size
Technical Information
Bruce Smith, M.Sc. (Geology), a member of the Australian Institute of Geoscientists, is Radius’ Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Smith has reviewed and approved the technical information contained in this news release.
Radius Gold Inc.
Radius has a portfolio of projects located in Mexico and Guatemala utilizing partnerships where appropriate to retain the Company’s treasury. Management is seeking out additional investment and project acquisition opportunities across the globe. Radius is a member of the Gold Group of companies, led by Simon Ridgway. You may find more information on Radius Gold at www.radiusgold.com or www.sedarplus.ca.
ON BEHALF OF THE BOARD
Simon Ridgway
Executive Chairman
Symbol: TSXV-RDU
Contact: Bruce Smith
200 Burrard Street, Suite 650
Vancouver, BC V6C 3L6
Tel: 604-801-5432; Toll free 1-888-627-9378; Fax: 604-662-8829
Email: info@goldgroup.com
Website: www.radiusgold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward- looking statements and include, without limitation, statements about the Company’s plans for its properties. Often, but not always, these forward looking statements can be identified by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Company’s stated goals and the planned exploration and development activities at its properties will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.
IMPACT Silver Announces Q2 2024 Results with Strong Revenue Growth of 40% on Increasing Plomosas Production
https://www.newsfilecorp.com/release/220576
August 20, 2024 1:39 PM EDT | Source: IMPACT Silver Corp.
Vancouver, British Columbia--(Newsfile Corp. - August 20, 2024) - IMPACT Silver Corp. (TSXV: IPT) (OTCQB: ISVLF) (FSE: IKL) ("IMPACT" or the "Company") announces its financial and operating results for the second quarter ended June 30, 2024.
Overall revenue in Q2 2024 was $7.7 million, representing a significant 40% increase over Q2 2023 revenue of $5.5 million. Revenue in Q2 2024 includes $1.8 million from the Plomosas high-grade zinc mine up from $1.0 million in Q1 2024. The Plomosas high-grade zinc mine (acquired in April 2023) was brought online in late 2023 and therefore, year-over-year comparisons do not include any revenue or operating costs recorded in Q2 2023. Meanwhile, revenue at the Zacualpan silver-lead-zinc project increased to $5.9 million in Q2 2024 from $5.4 in Q2 2023 despite lower production on a year-over-year basis, owing mostly to stronger silver prices.
The mine operating loss (before amortization and depletion) in Q2 2024 was $0.2 million compared to income of $0.9 million Q2 2023 which did not include any start-up and operating costs from Plomosas. The Company continued to experience cost pressures at its mine sites, certain one-time costs associated with bringing the Plomosas mine online, and the negative effects of a strong Mexican Peso. The net loss in Q2 2024 was $2.6 million compared to a net loss of $0.9 million in Q2 2023.
Q2 2024 Consolidated Financial Overview
Revenue in Q2 2024 was $7.7 million, up from $5.5 million in Q2 2023.
Mine operating loss before amortization and depletion[1] in Q2 2024 was $0.22 million, compared to income of $0.9 million in Q2 2023.
The net loss in Q2 2024 was $2.6 million after foreign exchange expense and deferred income taxes totalling $0.6 million compared to net loss of $0.9 million in Q2 2023.
After investing $1.6 million in exploration expenditures and mining assets during the quarter, the cash position remained strong at quarter-end with $9.9 million and working capital of $8.8 million.
During the quarter, the Company closed a non-brokered "LIFE" and private placement of $8.6 million.
The Company has no long-term debt.
Q2 2024 Zacualpan Mine Production Overview
Mill throughput in Q2 2024 was 35,062 tonnes compared to 35,753 tonnes in Q2 2023.
Silver production during the period decreased by 2% to 152,152 oz compared to 155,744 oz in Q2 2023 while lead and gold production decreased on a year-over-year basis by 36% and 69%, respectively.
Revenue per tonne sold was $168.17 in Q2 2024, representing an increase of 8% compared to $155.67 in the same period of 2023.
Direct costs per production tonne were $153.26 in Q2 2024, representing an increase of 17% over Q2 2023 costs of $130.67 per tonne. Much of this increase is due to foreign exchange, a retroactive union labour settlement including associated bonuses, with the balance coming from inflation-related pressures in Mexico. On a Mexican Peso basis, costs for the first six months of 2024 were the same as the first six months of 2023.
Zacualpan Silver District Review
The Company's overall average mill head grade of 161 g/t during the period was down 1% year-over-year from 163 g/t in Q2 2023. Gold production during the period was temporarily reduced compared to the same period in 2023 as the Company adjusted mining efficiencies and improved recoveries from its gold-rich Alacran mine. The Company is continuing to focus on exploration and development of the mining district in Q2 2024, having drilled 5,243 meters over the last six months.
Stronger metal prices on a year-over-year basis are due to increased confidence of pending looser monetary policy in 2024 as well as geopolitical uncertainties emanating from Eastern Europe and the Middle East. A flight to safety has increased the flow of funds into commodities in general, and the mining sector in particular as investors seek protection from ongoing inflationary pressures. Notwithstanding, ongoing cost inflation continues to impact costs throughout the supply chain and labour network, despite a softening of these trends since late 2023. Moreover, the overall negative effect of a strong Mexican Peso continues to hamper the Company's profit margins. The rate of cost increases at Zacualpan may start to subside further in 2H 2024 as new labour contracts have provided some cost certainty while the Company works to improve throughput grade.
Q2 2024 Plomosas Mine Production Overview
The Plomosas high-grade zinc mine (acquired in April 2023) was brought online in late 2023 and production continues to ramp up
Mill throughput in Q2 2024 was 9,256 tonnes, up 157% from 3,594 tonnes in Q1 2024.
Since the start of 2024, the average zinc grade was 14%, lead was 8.7% and silver was 43.7 g/t.
Over the last six months, the Company drilled 14,377 meters to support ongoing and future production.
Production at the start of Q2 2024 was approximately 100 tpd (tonnes per day), compared to no production in the same period last year.
Costs at Plomosas stabilized over the first six months of 2024 despite ongoing costs related to site improvements and mine development, resulting in a $0.2 million cost decrease in Q2 2024 compared to Q1 2024.
Plomosas High-Grade Zinc Mine Review
Following the acquisition of the Plomosas high grade zinc (lead-silver) mine in April 2023, the Company was focused on rehabilitating the mine, plant and equipment, and commenced limited start-up operations in late 2023 while initiating an extensive exploration program. During Q2 2024, the Company accelerated the production ramp-up at Plomosas and expects continued growth in production levels, reaching 150-170 tpd by the end of Q3 2024 and eventually design capacity levels by late 2024/early 2025 of 225 tpd.
This production ramp up is reflected in the current financial results and should continue to play a larger role over the balance of 2024 and into 2025. As the operation reaches design capacity, investors should anticipate higher overall revenue from the project and an ongoing decrease in per tonne operating costs, as was the case in Q2 2024 compared to Q1 2024.
Fred Davidson, President & CEO of IMPACT, stated, "During the second quarter, our team at Plomosas successfully met its objective of increasing production throughput following a substantive but continuing mine rehabilitation program. As we approach design capacity levels over the coming quarters, we expect to expand the mine's development and increase high-grade production activity at site. Meanwhile, our silver operations at Zacualpan are adapting to higher cost profiles by improving efficiencies in terms of grade and recoveries, which we expect to bear fruit in 2025. Our new discovery of the Keno vein is exciting and potentially the start of a trend of new higher grade production results beginning later this year."
Outlook - Grade Improvement at Zacualpan & Production Increasing at Plomosas
The Company's strong balance sheet provides it with a solid footing to continue to improve efficiencies at the Zacualpan silver-lead-zinc operation while allowing for ongoing production increases at the Plomosas high-grade zinc mine.
Through year-end 2024, management expects the production mix at Zacualpan to reflect higher grade mine development on the back of recently encouraging exploration results. The operation can be nimble as it seeks higher grade production mixes from its various legacy mines and new discoveries. Meanwhile at Plomosas, exploration activity is ongoing with up to two drill rigs working to develop the resource. These efforts should lead to ongoing improvement in Company-wide overall revenues while management expects cost pressures to continue to abate heading into 2025.
The Company's recent exploration success at Zacualpan and production increases at Plomosas reflects its position as one of just a handful of intermediate miners offering investors exposure to three distinct verticals within the mining sector, including exploration, production, and overall growth.
A recorded conference call reviewing the financial and production results of the quarter ended June 30, 2024 will be available on the Company website on August 21st, 2024 at https://impactsilver.com/media/conference-calls/.
The information in this news release should be read in conjunction with the Company's unaudited condensed consolidated interim financial statements and Management's Discussion and Analysis, available on the Company website at www.impactsilver.com and on SEDAR at www.sedarplus.ca. All amounts are stated in Canadian dollars unless otherwise specified.
ABOUT IMPACT SILVER
IMPACT Silver Corp. (TSXV: IPT) is a successful intermediate mineral producer and explorer with three mining projects in Mexico.
Royal Mines of Zacualpan Silver-Gold District: IMPACT owns 100% of the 211 km2 Zacualpan project in central Mexico where four underground silver mines and one open pit mine feed the central 500 tpd Guadalupe processing plant. To the south, the Capire Project includes a 200 tpd processing pilot plant adjacent to an open pit silver mine with an NI?43-101 inferred mineral resource of over 4.5?million oz silver, 48 million lbs zinc and 21 million lbs lead (see IMPACT news release dated January 18, 2016, for details and QP statement). Company engineers are reviewing Capire for a potential restart of operations to leverage improving commodity prices. Over the past 18 years, IMPACT has developed multiple exploration zones into commercial production and has produced over 12 million ounces of silver, generating revenue more than $271 million, with no long-term debt.
Plomosas Zinc-Lead-Silver District: Plomosas is a high-grade zinc producer in northern Mexico with exceptional exploration upside potential. The Company recently restarted mining operations and is expected to reach design capacity production levels over the next six months. Exploration potential at Plomosas is exceptional where only 600m of the 6 km-long structure have seen modern exploration. This is in addition to other exploration targets on the 3,019-hectare property including untested copper-gold targets with indications of high-grade material from surface. Regionally, Plomosas lies in the same mineral belt as some of the largest carbonate replacement deposits in the world.
Additional information about IMPACT and its operations can be found on the Company website at www.impactsilver.com. Follow us on Twitter @IMPACT_Silver and LinkedIn at https://www.linkedin.com/company/impactsilver
Qualified Person and NI 43-101 Disclosure
George Gorzynski, P.Eng., VP Exploration and a Director of IMPACT, is a "Qualified Person" within the meaning of NI 43-101 and has approved the technical information contained in this news release.
On behalf of IMPACT Silver Corp.
"Frederick W. Davidson"
President & CEO
For more information, please contact:
Jerry Huang
CFO | Investor Relations
(604) 664-7707 or inquiries@impactsilver.com
(778) 887 6489 Direct
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking and Cautionary Statements
This IMPACT News Release may contain certain "forward-looking" statements and information relating to IMPACT that is based on the beliefs of IMPACT management, as well as assumptions made by and information currently available to IMPACT management. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements include, but are not limited to, statements with respect to continued ramp-up of operations, and improved operating revenues and decreasing costs.
Such forward-looking information involves known and unknown risks and assumptions, including with respect to, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, criminal activity, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, pandemics, and one-time events. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. IMPACT does not assume the obligation to update any forward-looking statements, except as required by law.
The Company's decision to place a mine into production, expand a mine, make other production related decisions or otherwise carry out mining and processing operations, is largely based on internal non-public Company data and reports based on exploration, development and mining work by the Company's geologists and engineers. The results of this work are evident in the discovery and building of multiple mines for the Company and in the track record of mineral production and financial returns of the Company since 2006. Under NI 43-101 the Company is required to disclose that it has not based its production decisions on NI 43-101 compliant mineral resource or reserve estimates, preliminary economic assessments or feasibility studies, and historically such projects have increased uncertainty and risk of failure.
303-543 Granville Street
Telephone 604 664-7707
Vancouver, BC, Canada V6C 1X8
www.impactsilver.com
X (Twitter)
LinkedIn
[1] Mine operating earnings before amortization and depletion is a non-IFRS measure which the Company believes provides meaningful information about the Company's financial performance. See "Non-IFRS MEASURES".
SOURCE: IMPACT Silver Corp.
Starcore Announces First Quarter Production Results
https://www.newsfilecorp.com/release/220319
August 19, 2024 2:30 AM EDT | Source: Starcore International Mines Ltd.
Vancouver, British Columbia--(Newsfile Corp. - August 19, 2024) - Starcore International Mines Ltd. (TSX: SAM)
Endeavour Silver Provides Update on Guanacevi Trunnion Failure
https://ca.finance.yahoo.com/news/endeavour-silver-provides-guanacevi-trunnion-105000724.html
Endeavour Silver Corporation
Mon, August 19, 2024 at 3:50 a.m. PDT·3 min read
EXK
+5.45%
VANCOUVER, British Columbia, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) provides an update to the Guanacevi primary ball mill trunnion failure that was reported on August 12, 2024.
Processing has resumed at the Guanacevi mine site. Temporary modifications have been completed within the plant to re-purpose one of the regrind mills as the primary ball mill which is currently milling at a rate of 400 tonnes per day (tpd). While the grinding circuit is being closely monitored, there is potential for the plant to operate near 500 tpd or close to half of its planned production capacity of 1,200 tpd during this temporary phase.
During this time, mining operations will continue at a reduced rate without comprising safety or the long-term viability of the ore body. The operations will focus on feeding the highest-grade ore to the mill and stockpiling the remaining material. Contract mining activities and local third-party material purchases will cease until the process plant operations have returned to full capacity. These temporary solutions are intended to manage cash flows until the primary mill is fully operational. Using current metal prices, the preliminary estimate indicates a cash shortfall could be limited to during this period of reduced processing is less than US$5 million over an estimated 15-week period. This cash outflow includes accumulating ore stockpile with self-mining activities.
Constructive discussions have been held with our workforce, communities and suppliers to address the potential implications and broader social impact of these temporary measures.
Initial quotes for the trunnion fabrication and installation have been obtained with an estimated fabrication cost of US$0.5 million and a period of 16-weeks to installation. Management is assessing several alternatives to shorten the estimated downtime of the primary ball mill.
During this reduced processing period, Guanacevi production is estimated to decrease by 0.9 million to 1.1 million silver ounces and by 2,000 to 3,000 gold ounces compared to its original operating plan. Annual consolidated silver production for 2024 is expected to range from 4.4 to 4.6 million ounces, and gold production is expected to be between 36,000 ounces and 38,000 ounces. Silver equivalent production for 2024 is now forecast to total between 7.3 million and 7.6 million ounces. We achieved 4.4 million silver equivalent ounces in the first half of the year.
Due to the reduced operating capacity for 15 weeks, operating costs and all in sustaining cost metrics will be higher than originally guided for 2024. Due to the number of variables, estimates and remaining uncertainties, management is withdrawing its cost guidance at this time.
About Endeavour Silver – Endeavour is a mid-tier precious metals company with a strong commitment to sustainable and responsible mining practices. With operations in Mexico and the development of the new cornerstone mine in Jalisco state, the company aims to contribute positively to the mining industry and the communities in which it operates. In addition, Endeavour has a portfolio of exploration projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer.
Contact Information
Allison Pettit, Director Investor Relations
Tel: (877) 685 - 9775
Email: apettit@edrsilver.com
Website: www.edrsilver.com
Follow Endeavour Silver on Facebook, X, Instagram and LinkedIn
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding the suspension of processing at Guanacevi, timing for completion of repairs at the Guanacevi mill, the availability and assessment of alternative processing methods, the impact on Q3 production and annual production and cost guidance, and Endeavour’s anticipated performance in 2024 including changes in mining operations and forecasts of production levels, anticipated production costs and all-in sustaining costs. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.
Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include but are not limited to the ability to complete repairs at the Guanacevi mill in a timely manner, the availability of alternative processing methods, changes in production and costs guidance; and satisfaction of conditions precedent to drawdown under the Debt Facility; as well as those factors described in the section “risk factors” contained in the Company’s most recent form 40F/Annual Information Form filed with the S.E.C. and Canadian securities regulatory authorities.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the ability to complete repairs at the Guanacevi mill in a timely manner, the availability of alternative processing methods, the continued operation of the Company’s mining operations, no material adverse change in the market price of commodities, forecasted mine economics as of 2024, mining operations will operate and the mining products will be completed in accordance with management’s expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
Discovery Reports Second Quarter 2024 Financial Results
https://ca.finance.yahoo.com/news/discovery-reports-second-quarter-2024-023100138.html
Discovery Silver Corp.
Tue, August 13, 2024 at 7:31 p.m. PDT·11 min read
DSVSF
-28.71%
TORONTO, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Discovery Silver Corp. (TSX: DSV, OTCQX: DSVSF)
Silver Storm Announces Several Intercepts Exceeding 1,000 g/t Ag.Eq From the Rosarios Mine
https://ca.finance.yahoo.com/news/silver-storm-announces-several-intercepts-113000760.html
Business Wire
Thu, August 15, 2024 at 4:30 a.m. PDT·
Avino Generates Record Quarterly Revenues in Q2 2024
https://www.accesswire.com/900323/avino-generates-record-quarterly-revenues-in-q2-2024
Tuesday, 13 August 2024 05:00 PM
VANCOUVER, BC / ACCESSWIRE / August 13, 2024 / Avino Silver & Gold Mines Ltd. (TSX:ASM)(NYSE American:ASM)(FSE:GV6
Americas Gold and Silver Signs Credit and Off-Take Agreement for EC120 Project
https://ca.finance.yahoo.com/news/americas-gold-silver-signs-credit-210600766.html
Business Wire
Wed, August 14, 2024 at 2:06 p.m. PDT·12 min read
USAS
+6.44%
TORONTO, August 14, 2024--(BUSINESS WIRE)--Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) ("Americas" or the "Company"), a growing North American silver producer, is pleased to announce the signing of a Credit and Off-Take Agreement (the "Agreement") with Trafigura PTE Ltd. ("Trafigura") for the development of the 100%-owned Zone 120 and El Cajón silver-copper project ("EC120 Project") at the Company’s Cosalá Operations in Mexico. All figures are in U.S. dollars unless otherwise noted.
Highlights
The Agreement provides the Company with a secured credit facility of up to $15 million to complete the pre-production development of the EC120 Project at its Cosalá Operations to begin producing high-grade silver-copper concentrate in Q3-2025. The Company expects to draw only $10 million on the credit facility initially subject to standard closing conditions.
The 2019 Preliminary Feasibility Study ("PFS") for the EC120 Project projected average annual metal production of 2.5 million ounces of silver and 4.5 million pounds of copper at life of mine cash cost [1] and all-in sustaining cost [1] estimated to be $9.61/oz and $10.81/oz, respectively, with estimated annual average cash flow of $15 million using $17.50 per ounce silver and $3.00 per ounce copper. At the current prices, the Company expects to generate substantially greater cash flow over the life of the project with lower capital, cash cost per silver and AISC per silver ounce.
Initial development access to the Zone 120 deposit began in Q3-2023 and is expected to be fully completed in Q3-2025. The Company has already processed close to 140,000 tonnes of EC120 ore, 30,000 tonnes of development ore from Zone 120, and 110,000 tonnes of ore from El Cajón in 2017. Recoveries from processing this ore have been within acceptable range of the PFS targets and Trafigura off-take requirements.
The EC120 Project is expected to increase the portion of total Company revenue derived from silver to over 80% by the end of 2025, positioning the Company as one of the foremost silver-focused companies in politically stable jurisdictions.
"We are excited to partner with Trafigura to fully finance the EC120 Project development," stated Americas Executive Vice President and CFO Warren Varga. "The Agreement provides non-dilutive financing at competitive terms to complete this brownfield project. At current market prices, the EC120 Project is expected to generate significantly greater cash flow for the Company which will be deployed to continue to derisk the Company’s balance sheet. The significant increases in both silver production and cash flow from both silver and copper are anticipated to have a positive impact on the Company’s profitability moving forward."
EC120 Project Overview
With the current silver and copper prices, the Company decided to expedite the development of its 100%-owned EC120 Project at the Cosalá Operations prior to the full depletion of the San Rafael orebody. Zone 120 is located contiguous to the Company’s existing San Rafael deposit and initial access occurred in Q3-2023 from the San Rafael Upper Zone development. The EC120 Project will use the existing Cosalá plant facilities, tailings, and equipment with underground development costs representing the majority of the capital for the project, which represents a significant decrease in capital requirements compared to standalone project envisioned in the PFS. Pre-production capital requirements for underground development have also been reduced by $2 million due to approximately 1,100 metres of already completed pre-production capital development. The Company is expecting to continue to operate San Rafael up to the commencement of commercial production from the EC120 Project.
The PFS projected average annual metal production of 2.5 million ounces of silver and 4.5 million pounds of copper with a total of over 12 million ounces of silver and 23.0 million pounds of copper over the planned five-year life of the project. Estimated cash cost per ounce silver for the PFS were $9.61 per ounce and all-in sustaining cost per silver ounce of $10.81 per ounce silver. The PFS assumed metal prices $17.50 per ounce silver and $3.00 per pound copper.
Both silver and copper prices have increased significantly since the completion of the 2019 Preliminary Feasibility Study. At the current prices, the Company expects to generate substantially greater cash flow over the life of the project with both lower cash cost and AISC per ounce and will evaluate the processing of additional silver-copper ore that may now be economic at current prices.
The Company has mined and processed close to 30,000 tonnes of Zone 120 development ore with recoveries within acceptable range of the PFS targets. The Company estimates that the EC120 Project will reach commercial production in Q3-2025. Silver production from the Cosalá Operations is expected to increase from less than 1 million ounces per year to ~2.5 million ounces per year. Along with the forecasted increase in silver production from the Company’s Galena Complex in Idaho, the Company expects consolidated silver revenue to increase to over 80% of total revenue by the end of H2-2025 making it one of the rare, North American-focused, primary silver producers in the silver mining sector.
Credit Facility Terms
The credit facility provides the Company with up to $15 million available for the development of the EC120 Project though expects to initially draw only $10 million, relying on both internally generated cash in addition to funds advanced under the credit facility to fund the development of the Project. The term is 36 months which includes a principal repayment grace period of 12 months and bears interest at Secured Overnight Financing Rate ("SOFR") plus 6% on the cumulative drawings up to $12 million and 6.5% on the outstanding principal amount thereafter. The credit facility will be amortized in equal monthly installments of $600,000 commencing after expiry of the grace period. The facility will be secured by share and asset pledges of all the Company’s material Mexican subsidiaries with the Company’s existing convertible debenture creditors agreeing to subordinate existing security. As part of the Agreement, Trafigura receives 100% of the silver-copper concentrate production from the EC120 Project on commercial terms.
About Americas Gold and Silver Corporation
Americas Gold and Silver Corporation is a high-growth precious metals mining company with multiple assets in North America. The Company owns and operates the Cosalá Operations in Sinaloa, Mexico, manages the 60%-owned Galena Complex in Idaho, USA, and is re-evaluating the Relief Canyon mine in Nevada, USA. The Company also owns the San Felipe development project in Sonora, Mexico. For further information, please see SEDAR+ or www.americas-gold.com.
Technical Information and Qualified Persons
The scientific and technical information relating to the Company’s material mining properties contained herein has been reviewed and approved by Chris McCann, P.Eng., Vice President, Technical Services of the Company. The Company’s current Annual Information Form and the NI 43-101 Technical Reports for its mineral properties, all of which are available on SEDAR+ at www.sedarplus.ca, and EDGAR at www.sec.gov, contain further details regarding mineral reserve and mineral resource estimates, classification and reporting parameters, key assumptions and associated risks for each of the Company’s material mineral properties, including a breakdown by category.
All mining terms used herein have the meanings set forth in National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"), as required by Canadian securities regulatory authorities. These standards differ from the requirements of the SEC that are applicable to domestic United States reporting companies. Any mineral reserves and mineral resources reported by the Company in accordance with NI 43-101 may not qualify as such under SEC standards. Accordingly, information contained in this news release may not be comparable to similar information made public by companies subject to the SEC’s reporting and disclosure requirements.
Cautionary Statement on Forward-Looking Information:
This news release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking information includes, but is not limited to, Americas’ expectations, intentions, plans, assumptions and beliefs with respect to, among other things, estimated and targeted production rates and results for gold, silver, copper and other metals, the expected prices of gold, silver, copper and other metals, as well as the related costs, expenses and capital expenditures; production from the Galena Complex and Cosalá Operations, including the expected number of producing stopes and production levels; the expected timing and completion of required development and the expected operational and production results therefrom, including the anticipated improvements to production rates and cash costs per silver ounce and all-in sustaining costs per silver ounce; and statements relating to Americas’ EC120 Project, including expected approvals, prepayment ?nancing availability, execution and timing and capital expenditures required to develop such project and reach production thereat, and expectations regarding its ability to rely in existing infrastructure, facilities, and equipment. Guidance and outlook references contained in this press release were prepared based on current mine plan assumptions with respect to production, development, costs and capital expenditures, the metal price assumptions disclosed herein, and assumes no further adverse impacts to the Cosalá Operations from blockades or work stoppages, and completion of the shaft repair and shaft rehab work at the Galena Complex on its expected schedule and budget, the realization of the anticipated benefits therefrom, and is subject to the risks and uncertainties outlined below. The ability to maintain cash flow positive production at the Cosalá Operations, which includes the EC120 Project, through meeting production targets and at the Galena Complex through implementing the Galena Recapitalization Plan, including the completion of the Galena shaft repair and shaft rehab work on its expected schedule and budget, allowing the Company to generate sufficient operating cash flows while facing market fluctuations in commodity prices and inflationary pressures, are significant judgments in the consolidated financial statements with respect to the Company’s liquidity. Should the Company experience negative operating cash flows in future periods, the Company may need to raise additional funds through the issuance of equity or debt securities. Often, but not always, forward-looking information can be identified by forward-looking words such as "anticipate", "believe", "expect", "goal", "plan", "intend", "potential’, "estimate", "may", "assume" and "will" or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions, or statements about future events or performance. Forward-looking information is based on the opinions and estimates of Americas as of the date such information is provided and is subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance, or achievements of Americas to be materially different from those expressed or implied by such forward-looking information. With respect to the business of Americas, these risks and uncertainties include risks relating to widespread epidemics or pandemic outbreak, actions that have been and may be taken by governmental authorities to contain such epidemic or pandemic or to treat its impact and/or the availability, effectiveness and use of treatments and vaccines (including the effectiveness of boosters); interpretations or reinterpretations of geologic information; unfavorable exploration results; inability to obtain permits required for future exploration, development or production; general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; potential litigation; fluctuating mineral and commodity prices; the ability to obtain necessary future financing on acceptable terms or at all; the ability to operate the Company’s projects; and risks associated with the mining industry such as economic factors (including future commodity prices, currency fluctuations and energy prices), ground conditions, illegal blockades and other factors limiting mine access or regular operations without interruption, failure of plant, equipment, processes and transportation services to operate as anticipated, environmental risks, government regulation, actual results of current exploration and production activities, possible variations in ore grade or recovery rates, permitting timelines, capital and construction expenditures, reclamation activities, labor relations or disruptions, social and political developments, risks associated with generally elevated inflation and inflationary pressures, risks related to changing global economic conditions, and market volatility, risks relating to geopolitical instability, political unrest, war, and other global conflicts may result in adverse effects on macroeconomic conditions including volatility in financial markets, adverse changes in trade policies, inflation, supply chain disruptions and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Readers are cautioned not to place undue reliance on such information. Additional information regarding the factors that may cause actual results to differ materially from this forward-looking information is available in Americas’ filings with the Canadian Securities Administrators on SEDAR+ and with the SEC. Americas does not undertake any obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law. Americas does not give any assurance (1) that Americas will achieve its expectations, or (2) concerning the result or timing thereof. All subsequent written and oral forward-looking information concerning Americas are expressly qualified in their entirety by the cautionary statements above.
_________________________
1 This metric is a non-GAAP financial measure or ratio. The Company uses the financial measures "Cash Cost", "Cash Cost/Ag Oz Produced", "All-In Sustaining Cost", and "All-In Sustaining Cost/Ag Oz Produced" in accordance with measures widely reported in the silver mining industry as a benchmark for performance measurement and because it understands that, in addition to conventional measures prepared in accordance with IFRS, certain investors and analysts use this information to evaluate the Company’s underlying cash costs and total costs of operations. Cash costs are determined on a mine-by-mine basis and include mine site operating costs such as mining, processing, administration, production taxes and royalties which are not based on sales or taxable income calculations, while all-in sustaining costs is the cash costs plus all development, capital expenditures, and exploration spending. A full reconciliation of these non-GAAP financial measures can be found in the Technical Report on the San Rafael Mine and the EC120 Preliminary Feasibility Study, Sinaloa, Mexico available on the Company’s website.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240814616373/en/
Contacts
For more information:
Stefan Axell
VP, Corporate Development & Communications
Americas Gold and Silver Corporation
416-874-1708
Darren Blasutti
President and CEO
Americas Gold and Silver Corporation
416-848-9503
Tocvan Provides Update Surface Sampling Ongoing, Preparing for Next Phases of Drilling, Plans for On-site Pilot Plant
https://www.accesswire.com/900087/tocvan-provides-update-surface-sampling-ongoing-preparing-for-next-phases-of-drilling-plans-for-on-site-pilot-plant
Tuesday, 13 August 2024 08:30 AM
Highlights:
Summer Surface Exploration Work Ongoing at Gran Pilar, over 200 Soil Samples Collected to Date Along Northern and Eastern Extensions of Main Zone, North Hill and 4-T Trends
Major Producer Completes its District Scale Review of Gran Pilar's Multi-Million Ounce Potential
Upcoming Core Drill Program at Pilar Main Zone Scheduled for September Start
Outlines Plans for Resource Drilling with Core and RC
Tocvan Invited to Present at Mexico's Biggest Annual Mining Conference
Congreso Internacional Minero October 22-26
Updated Corporate Presentation (Click Here)
CALGARY, AB / ACCESSWIRE / August 13, 2024 / Tocvan Ventures Corp. (the "Company") (CSE:TOC)(OTCQB:TCVNF)(FSE:TV3), is pleased to provide an update from its gold-silver projects in mine-friendly Sonora, Mexico. The Company will refer to the consolidated area that includes the Pilar Main Zone and the adjacent 22 km2 as Gran Pilar. This signifies the broader scale project size the Company is focusing on as it advances to a maiden resource at the Pilar Main Zone as well as defining large-scale targets beyond.
Based on management's strong belief in the project's potential, the Company is outlining a permitting and operations strategy for a pilot facility at Pilar. The facility would underpin a robust test mine scenario with aims to process up to 50,000 tonnes of material. Timelines and budget are being prepared with the aim of moving forward with the development early in 2025. With gold prices hitting all-time highs, the Company believes the onsite test mine will provide key economic parameters and showcase the mineral potential of the area. In 2023, the Company completed an offsite bulk sample that produced important data showcasing the potential to recover both gold and silver through a variety of methods including heap leach, gravity and agitated leach (see August 22, 2023 news release for more details).
Surface sampling has been ongoing across the Gran Pilar project area with a focus on the northern and eastern extensions of the Main Zone, North Hill and 4-T trends. To date, over 200 surface samples have been collected by technical staff with results pending. The sampling will provide key information for defining target areas for future drilling campaigns and outlining areas appropriate for future mine-infrastructure. The Company is encouraged by the initial surface results released early this year that identified several high-grade gold and silver zones east of the Main Zone highlighted by 7.3 g/t Au with 177 g/t Ag and 5.5 g/t Au with 80 g/t Ag (see Figure 1 and April 18, 2024 news release) and the continued work of small, placer miners in the area which continue to report positive results from several areas of interest. These results are coupled with high-grade gold and silver results associated with a large footprint of hydrothermal alteration five kilometers north of the Main Zone (5.6 g/t Au in the October 19, 2023 news release and 3.2 g/t Au with 1,225 g/t Ag in the March 8, 2024 news release).
As a result of the surface findings, a detailed review of Gran Pilar spanning over 6 weeks of on-site due diligence has been completed by a regional major producer. Once data has been processed and reviewed both parties will discuss next steps later in the fall.
Also, preparations are being made for the next phases of core and RC drilling that will focus on resource definition. Between 1,200 to 2,000 meters of core drilling are being considered along with 1,700 to 2,500 meters of RC drilling before the end of the year. Additional drilling of exploration targets across Gran Pilar will be considered later in the year. Core drilling will focus on building a robust geological model across Pilar with emphasis on the Main Zone. RC drilling will concentrate on additional infill and step-out targeting across the Main Zone, North Hill and 4-T trends. Upon completion of drilling the Company anticipates a maiden resource estimate will be finalized for the initial Pilar Main Zone and adjacent trends providing an initial step of showcasing the full potential of the project area.
In addition, Tocvan has been invited to present at the annual Congreso Internacional Minero held in Hermosillo, Sonora. The mining conference sees over 10,000 attendees, showcasing the resource industry in Mexico. More information of the conference and technical presentations can be found here: congresominerosonora.com
"Making the most of the rain season in Sonora, our field crews have been hard at work advancing our understanding of the broader mineralized footprint that extends out from Pilar" commented Brodie Sutherland, CEO. "We are excited to review the results of their initial work as it will provide key information in drill targeting across the broader Gran Pilar property. We are also preparing for the next phases of drilling which will include important core drilling through our Main Zone and other prospective trends. The last core program we completed in 2022 was a huge success, giving us a better understanding of the host rocks and the pervasive alteration and brecciation one would expect from a robust mineralized system. Drilling completed before the end of the year will go into a maiden resource estimate for Pilar, a starting point for establishing initial resources for development. Along with these preparations the Company is evaluating a pilot mine facility to process material at site. A logical step-forward as we showcase the accessibility of gold and silver whilst taking advantage of current market prices for the commodities. The Company anticipates necessary equipment setup and permitting can be completed by early 2025, with the objective of processing up to 50,000 tonnes of material directly from Pilar. A key differentiator for the Company and project. Our core objective is to unlock the potential of the greater project area while advancing mine development. The work completed to date has sparked interest from producers on the project potential and the immense upside to resource expansion we have shown quickly through exploration. We expect discussions to increase leading up to Mexico's biggest mining conference in October. The Company maintains a positive outlook on the future of mining in Mexico and looks forward to advancing its initiatives of transitioning to producer. Taking full advantage of the excellent infrastructure and talented work force Sonora provides."
Plate 1. Tocvan technical crews actively exploring mineralized expansion corridors through rock and soil sampling.
Figure 1. Target Map of the Gran Pilar Project Area. Recent surface discoveries have highlighted several target zones across the project area.
About the Pilar Property
The Pilar Gold-Silver property has returned some of the regions best drill results. Coupled with encouraging gold and silver recovery results from metallurgical test work, Pilar is primed to be a potential near-term producer. Pilar is interpreted as a structurally controlled low-sulphidation epithermal system hosted in andesite rocks. Initially three primary zones of mineralization were identified on the original property from historic surface work and drilling and are referred to as the Main Zone, North Hill and 4-T. Each trend remains open to the southeast and north and new parallel zones have been discovered. Structural features and zones of mineralization within the structures follow an overall NW-SE trend of mineralization. Mineralization extends along a 1.2-km trend, only half of that trend has been drill tested so far. The Company has now expanded its interest in the area by consolidating 22 square-kilometers of highly prospective ground where it has already made significant surface discoveries.
Pilar Drill Highlights:
2022 Phase III Diamond Drilling Highlights include (all lengths are drilled thicknesses):
116.9m @ 1.2 g/t Au, including 10.2m @ 12 g/t Au and 23 g/t Ag
108.9m @ 0.8 g/t Au, including 9.4m @ 7.6 g/t Au and 5 g/t Ag
63.4m @ 0.6 g/t Au and 11 g/t Ag, including 29.9m @ 0.9 g/t Au and 18 g/t Ag
2021 Phase II RC Drilling Highlights include (all lengths are drilled thicknesses):
39.7m @ 1.0 g/t Au, including 1.5m @ 14.6 g/t Au
47.7m @ 0.7 g/t Au including 3m @ 5.6 g/t Au and 22 g/t Ag
29m @ 0.7 g/t Au
35.1m @ 0.7 g/t Au
2020 Phase I RC Drilling Highlights include (all lengths are drilled thicknesses):
94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;
41.2m @ 1.1 g/t Au, including 3.1m @ 6.0 g/t Au and 12 g/t Ag ;
24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/t Ag
15,000m of Historic Core & RC drilling. Highlights include:
21.0m @ 38.3 g/t Au and 38 g/t Ag
13.0m @ 9.6 g/t Au
9.0m @ 10.2 g/t Au and 46 g/t Ag
61.0m @ 0.8 g/t Au
Pilar Bulk Sample Summary:
62% Recovery of Gold Achieved Over 46-day Leaching Period
Head Grade Calculated at 1.9 g/t Au and 7 g/t Ag; Extracted Grade Calculated at 1.2 g/t Au and 3 g/t Ag
Bulk Sample Only Included Coarse Fraction of Material (+3/4" to +1/8")
Fine Fraction (-1/8") Indicates Rapid Recovery with Agitated Leach
Agitated Bottle Roll Test Returned Rapid and High Recovery Results: 80% Recovery of Gold and 94% Recovery of Silver after Rapid 24-hour Retention Time
Additional Metallurgical Studies:
Gravity Recovery with Agitated Leach Results of Five Composite Samples Returned
95 to 99% Recovery of Gold
73 to 97% Recovery of Silver
Includes the Recovery of 99% Au and 73% Ag from Drill Core Composite at 120-meter depth.
About Tocvan Ventures Corp.
Tocvan's advancing gold-silver projects are located in the mine-friendly jurisdiction of Sonora, Mexico. Through ongoing exploration programs, Company is unveiling the high-potential at its Gran Pilar Gold-Silver Project where it holds 100% interests in over 21 square kilometers of prospective area and a majority ownership (51%) in a one square kilometer area shared with Colibri Resources. The Company also holds 100% interest in the Picacho Gold-Silver project in the Caborca Trend of northern Sonora, a trend host to some of the major gold deposits of the region. Management feels both projects represent tremendous opportunity to create shareholder value.
Tocvan has approximately 51 million shares outstanding.
Quality Assurance / Quality Control
Samples were shipped for sample preparation to ALS Limited in Hermosillo, Sonora, Mexico and for analysis at the ALS laboratory in North Vancouver. The ALS Hermosillo and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Gold was analyzed using 50-gram nominal weight fire assay with atomic absorption spectroscopy finish. Over limits for gold (>10 g/t), were analyzed using fire assay with a gravimetric finish. Silver and other elements were analyzed using a four-acid digestion with an ICP finish. Over limit analyses for silver (>100 g/t) were re-assayed using an ore-grade four-acid digestion with ICP-AES finish. Control samples comprising certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's robust quality assurance / quality control protocol.
Brodie A. Sutherland, CEO for Tocvan Ventures Corp. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.
Cautionary Statement Regarding Forward Looking Statements
Neither the Canadian Securities Exchange nor its regulation services provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking information in this news release includes statements regarding the use of proceeds from the Offering. Such forward-looking information is often, but not always, identified by the use of words and phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company's business, the Company's formative stage of development and the Company's financial position. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws.
There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
For more information, please contact:
TOCVAN VENTURES CORP.
Brodie A. Sutherland, CEO
1150, 707 - 7 Ave SW
Calgary, Alberta T2P 3H6
403-829-9877
bsutherland@tocvan.ca
The Howard Group
Jeff Walker
VP Howard Group Inc.
403-221-0915
jeff@howardgroupinc.com
SOURCE: Tocvan Ventures Corp
Kootenay Reports Wide High-Grade Intercept with Aggressive 400 Meter Step Out.
D-Vein Strike Length, Now Drilled To 1,080 Meters at Columba Project.
https://www.newswire.ca/news-releases/kootenay-reports-wide-high-grade-intercept-with-aggressive-400-meter-step-out--832959884.html
Kootenay Silver Inc. Aug 14, 2024, 07:30 ET
VANCOUVER, BC , Aug. 14, 2024 /CNW/ - Kootenay Silver Inc. (TSXV: KTN)
Orla Mining Reports Second Quarter 2024 Financial Results and Improves Annual Production and Cost Guidance
Robust Margin Expansion Driving Record Free Cash Flow
https://www.newswire.ca/news-releases/orla-mining-reports-second-quarter-2024-financial-results-and-improves-annual-production-and-cost-guidance-864350914.html
Orla Mining Ltd. Aug 12, 2024, 20:25 ET
VANCOUVER, BC, Aug. 12, 2024 /CNW/ - Orla Mining Ltd. (TSX: OLA) (NYSE: ORLA
Prime Mining Q2 2024 Financial and Operating Results
https://ca.finance.yahoo.com/news/prime-mining-q2-2024-financial-030000820.html
Prime Mining Corp.
Mon, August 12, 2024 at 8:00 p.m. PDT·15 min read
PRMNF
+4.65%
VANCOUVER, British Columbia, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Prime Mining Corp. (“Prime”, or the “Company”) (TSV: PRYM) (OTCQX: PRMNF) (Frankfurt: O4V3
Colibri/Tocvan Provide Update Surface Sampling Ongoing, Preparing for Next Phases of Drilling, Plans for On-site Pilot Plant
https://www.accesswire.com/900087/tocvan-provides-update-surface-sampling-ongoing-preparing-for-next-phases-of-drilling-plans-for-on-site-pilot-plant
Tuesday, 13 August 2024 08:30 AM
Highlights:
Summer Surface Exploration Work Ongoing at Gran Pilar, over 200 Soil Samples Collected to Date Along Northern and Eastern Extensions of Main Zone, North Hill and 4-T Trends
Major Producer Completes its District Scale Review of Gran Pilar's Multi-Million Ounce Potential
Upcoming Core Drill Program at Pilar Main Zone Scheduled for September Start
Outlines Plans for Resource Drilling with Core and RC
Tocvan Invited to Present at Mexico's Biggest Annual Mining Conference
Congreso Internacional Minero October 22-26
Updated Corporate Presentation (Click Here)
CALGARY, AB / ACCESSWIRE / August 13, 2024 / Tocvan Ventures Corp. (the "Company") (CSE:TOC)(OTCQB:TCVNF)(FSE:TV3), is pleased to provide an update from its gold-silver projects in mine-friendly Sonora, Mexico. The Company will refer to the consolidated area that includes the Pilar Main Zone and the adjacent 22 km2 as Gran Pilar. This signifies the broader scale project size the Company is focusing on as it advances to a maiden resource at the Pilar Main Zone as well as defining large-scale targets beyond.
Based on management's strong belief in the project's potential, the Company is outlining a permitting and operations strategy for a pilot facility at Pilar. The facility would underpin a robust test mine scenario with aims to process up to 50,000 tonnes of material. Timelines and budget are being prepared with the aim of moving forward with the development early in 2025. With gold prices hitting all-time highs, the Company believes the onsite test mine will provide key economic parameters and showcase the mineral potential of the area. In 2023, the Company completed an offsite bulk sample that produced important data showcasing the potential to recover both gold and silver through a variety of methods including heap leach, gravity and agitated leach (see August 22, 2023 news release for more details).
Surface sampling has been ongoing across the Gran Pilar project area with a focus on the northern and eastern extensions of the Main Zone, North Hill and 4-T trends. To date, over 200 surface samples have been collected by technical staff with results pending. The sampling will provide key information for defining target areas for future drilling campaigns and outlining areas appropriate for future mine-infrastructure. The Company is encouraged by the initial surface results released early this year that identified several high-grade gold and silver zones east of the Main Zone highlighted by 7.3 g/t Au with 177 g/t Ag and 5.5 g/t Au with 80 g/t Ag (see Figure 1 and April 18, 2024 news release) and the continued work of small, placer miners in the area which continue to report positive results from several areas of interest. These results are coupled with high-grade gold and silver results associated with a large footprint of hydrothermal alteration five kilometers north of the Main Zone (5.6 g/t Au in the October 19, 2023 news release and 3.2 g/t Au with 1,225 g/t Ag in the March 8, 2024 news release).
As a result of the surface findings, a detailed review of Gran Pilar spanning over 6 weeks of on-site due diligence has been completed by a regional major producer. Once data has been processed and reviewed both parties will discuss next steps later in the fall.
Also, preparations are being made for the next phases of core and RC drilling that will focus on resource definition. Between 1,200 to 2,000 meters of core drilling are being considered along with 1,700 to 2,500 meters of RC drilling before the end of the year. Additional drilling of exploration targets across Gran Pilar will be considered later in the year. Core drilling will focus on building a robust geological model across Pilar with emphasis on the Main Zone. RC drilling will concentrate on additional infill and step-out targeting across the Main Zone, North Hill and 4-T trends. Upon completion of drilling the Company anticipates a maiden resource estimate will be finalized for the initial Pilar Main Zone and adjacent trends providing an initial step of showcasing the full potential of the project area.
In addition, Tocvan has been invited to present at the annual Congreso Internacional Minero held in Hermosillo, Sonora. The mining conference sees over 10,000 attendees, showcasing the resource industry in Mexico. More information of the conference and technical presentations can be found here: congresominerosonora.com
"Making the most of the rain season in Sonora, our field crews have been hard at work advancing our understanding of the broader mineralized footprint that extends out from Pilar" commented Brodie Sutherland, CEO. "We are excited to review the results of their initial work as it will provide key information in drill targeting across the broader Gran Pilar property. We are also preparing for the next phases of drilling which will include important core drilling through our Main Zone and other prospective trends. The last core program we completed in 2022 was a huge success, giving us a better understanding of the host rocks and the pervasive alteration and brecciation one would expect from a robust mineralized system. Drilling completed before the end of the year will go into a maiden resource estimate for Pilar, a starting point for establishing initial resources for development. Along with these preparations the Company is evaluating a pilot mine facility to process material at site. A logical step-forward as we showcase the accessibility of gold and silver whilst taking advantage of current market prices for the commodities. The Company anticipates necessary equipment setup and permitting can be completed by early 2025, with the objective of processing up to 50,000 tonnes of material directly from Pilar. A key differentiator for the Company and project. Our core objective is to unlock the potential of the greater project area while advancing mine development. The work completed to date has sparked interest from producers on the project potential and the immense upside to resource expansion we have shown quickly through exploration. We expect discussions to increase leading up to Mexico's biggest mining conference in October. The Company maintains a positive outlook on the future of mining in Mexico and looks forward to advancing its initiatives of transitioning to producer. Taking full advantage of the excellent infrastructure and talented work force Sonora provides."
Plate 1. Tocvan technical crews actively exploring mineralized expansion corridors through rock and soil sampling.
Figure 1. Target Map of the Gran Pilar Project Area. Recent surface discoveries have highlighted several target zones across the project area.
About the Pilar Property
The Pilar Gold-Silver property has returned some of the regions best drill results. Coupled with encouraging gold and silver recovery results from metallurgical test work, Pilar is primed to be a potential near-term producer. Pilar is interpreted as a structurally controlled low-sulphidation epithermal system hosted in andesite rocks. Initially three primary zones of mineralization were identified on the original property from historic surface work and drilling and are referred to as the Main Zone, North Hill and 4-T. Each trend remains open to the southeast and north and new parallel zones have been discovered. Structural features and zones of mineralization within the structures follow an overall NW-SE trend of mineralization. Mineralization extends along a 1.2-km trend, only half of that trend has been drill tested so far. The Company has now expanded its interest in the area by consolidating 22 square-kilometers of highly prospective ground where it has already made significant surface discoveries.
Pilar Drill Highlights:
2022 Phase III Diamond Drilling Highlights include (all lengths are drilled thicknesses):
116.9m @ 1.2 g/t Au, including 10.2m @ 12 g/t Au and 23 g/t Ag
108.9m @ 0.8 g/t Au, including 9.4m @ 7.6 g/t Au and 5 g/t Ag
63.4m @ 0.6 g/t Au and 11 g/t Ag, including 29.9m @ 0.9 g/t Au and 18 g/t Ag
2021 Phase II RC Drilling Highlights include (all lengths are drilled thicknesses):
39.7m @ 1.0 g/t Au, including 1.5m @ 14.6 g/t Au
47.7m @ 0.7 g/t Au including 3m @ 5.6 g/t Au and 22 g/t Ag
29m @ 0.7 g/t Au
35.1m @ 0.7 g/t Au
2020 Phase I RC Drilling Highlights include (all lengths are drilled thicknesses):
94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;
41.2m @ 1.1 g/t Au, including 3.1m @ 6.0 g/t Au and 12 g/t Ag ;
24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/t Ag
15,000m of Historic Core & RC drilling. Highlights include:
21.0m @ 38.3 g/t Au and 38 g/t Ag
13.0m @ 9.6 g/t Au
9.0m @ 10.2 g/t Au and 46 g/t Ag
61.0m @ 0.8 g/t Au
Pilar Bulk Sample Summary:
62% Recovery of Gold Achieved Over 46-day Leaching Period
Head Grade Calculated at 1.9 g/t Au and 7 g/t Ag; Extracted Grade Calculated at 1.2 g/t Au and 3 g/t Ag
Bulk Sample Only Included Coarse Fraction of Material (+3/4" to +1/8")
Fine Fraction (-1/8") Indicates Rapid Recovery with Agitated Leach
Agitated Bottle Roll Test Returned Rapid and High Recovery Results: 80% Recovery of Gold and 94% Recovery of Silver after Rapid 24-hour Retention Time
Additional Metallurgical Studies:
Gravity Recovery with Agitated Leach Results of Five Composite Samples Returned
95 to 99% Recovery of Gold
73 to 97% Recovery of Silver
Includes the Recovery of 99% Au and 73% Ag from Drill Core Composite at 120-meter depth.
About Tocvan Ventures Corp.
Tocvan's advancing gold-silver projects are located in the mine-friendly jurisdiction of Sonora, Mexico. Through ongoing exploration programs, Company is unveiling the high-potential at its Gran Pilar Gold-Silver Project where it holds 100% interests in over 21 square kilometers of prospective area and a majority ownership (51%) in a one square kilometer area shared with Colibri Resources. The Company also holds 100% interest in the Picacho Gold-Silver project in the Caborca Trend of northern Sonora, a trend host to some of the major gold deposits of the region. Management feels both projects represent tremendous opportunity to create shareholder value.
Tocvan has approximately 51 million shares outstanding.
Quality Assurance / Quality Control
Samples were shipped for sample preparation to ALS Limited in Hermosillo, Sonora, Mexico and for analysis at the ALS laboratory in North Vancouver. The ALS Hermosillo and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Gold was analyzed using 50-gram nominal weight fire assay with atomic absorption spectroscopy finish. Over limits for gold (>10 g/t), were analyzed using fire assay with a gravimetric finish. Silver and other elements were analyzed using a four-acid digestion with an ICP finish. Over limit analyses for silver (>100 g/t) were re-assayed using an ore-grade four-acid digestion with ICP-AES finish. Control samples comprising certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's robust quality assurance / quality control protocol.
Brodie A. Sutherland, CEO for Tocvan Ventures Corp. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.
Cautionary Statement Regarding Forward Looking Statements
Neither the Canadian Securities Exchange nor its regulation services provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking information in this news release includes statements regarding the use of proceeds from the Offering. Such forward-looking information is often, but not always, identified by the use of words and phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company's business, the Company's formative stage of development and the Company's financial position. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws.
There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
For more information, please contact:
TOCVAN VENTURES CORP.
Brodie A. Sutherland, CEO
1150, 707 - 7 Ave SW
Calgary, Alberta T2P 3H6
403-829-9877
bsutherland@tocvan.ca
The Howard Group
Jeff Walker
VP Howard Group Inc.
403-221-0915
jeff@howardgroupinc.com
SOURCE: Tocvan Ventures Corp
Silver Tiger Intersects 96.3 metres of 100.7 g/t silver Equivalent in the Stockwork Zone Including 1.2 metres of 4,894.1 g/t silver Equivalent within the High-Grade Keel Zone
https://www.accesswire.com/900050/silver-tiger-intersects-963-metres-of-1007-gt-silver-equivalent-in-the-stockwork-zone-including-12-metres-of-48941-gt-silver-equivalent-within-the-high-grade-keel-zone
Tuesday, 13 August 2024 07:00 AM
HALIFAX, NS / ACCESSWIRE / August 13, 2024 / Silver Tiger Metals Inc. (TSXV:SLVR) and (OTCQX:SLVTF
SILVER LAGGING GOLD RATIO
Endeavour Silver Reports Guanacevi Primary Ball Mill Trunnion Failure
https://ca.finance.yahoo.com/news/endeavour-silver-reports-guanacevi-primary-105000186.html
Endeavour Silver Corporation
Mon, August 12, 2024 at 3:50 a.m. PDT·1 min read
EXK
-14.12%
VANCOUVER, British Columbia, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) reports the trunnion on the primary ball mill at the Guanacevi mill has failed and could take up to 12 weeks to replace. As a result, processing of material at the Guanacevi mill has been suspended. Management is assessing several alternatives including operating at a significantly reduced capacity with minor conveyor modification using smaller regrind mills until the primary ball mill is operational.
This downtime will impact Q3 production and is expected to impact annual production and cost guidance. Management is conducting an evaluation and analysis this week and will provide an update as soon as its assessment is complete.
About Endeavour Silver – Endeavour is a mid-tier precious metals company with a strong commitment to sustainable and responsible mining practices. With operations in Mexico and the development of the new cornerstone mine in Jalisco state, the company aims to contribute positively to the mining industry and the communities in which it operates. In addition, Endeavour has a portfolio of exploration projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer.
Contact Information
Allison Pettit, Director Investor Relations
Tel: (877) 685 - 9775
Email: apettit@edrsilver.com
Website: www.edrsilver.com
Follow Endeavour Silver on Facebook, X, Instagram and LinkedIn
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding the suspension of processing at Guanacevi, timing for completion of repairs at the Guanacevi mill, the availability and assessment of alternative processing methods, the impact on Q3 production and annual production and cost guidance, and Endeavour’s anticipated performance in 2024 including changes in mining operations and forecasts of production levels, anticipated production costs and all-in sustaining costs. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.
Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include but are not limited to the ability to complete repairs at the Guanacevi mill in a timely manner, the availability of alternative processing methods, changes in production and costs guidance; and satisfaction of conditions precedent to drawdown under the Debt Facility; as well as those factors described in the section “risk factors” contained in the Company’s most recent form 40F/Annual Information Form filed with the S.E.C. and Canadian securities regulatory authorities.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the ability to complete repairs at the Guanacevi mill in a timely manner, the availability of alternative processing methods, the continued operation of the Company’s mining operations, no material adverse change in the market price of commodities, forecasted mine economics as of 2024, mining operations will operate and the mining products will be completed in accordance with management’s expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
Torex Gold Reports Q2 2024 Results
Another consistent quarter of safe and reliable production; on track to deliver on full-year operational guidance
https://www.newsfilecorp.com/release/219143
August 07, 2024 6:00 PM EDT | Source: Torex Gold Resources Inc.
(All amounts expressed in U.S. dollars unless otherwise stated)
Toronto, Ontario--(Newsfile Corp. - August 7, 2024) - Torex Gold Resources Inc. (the "Company" or "Torex") (TSX: TXG
Luca Mining Engages Mining Contractor for Campo Morado
https://www.newswire.ca/news-releases/luca-mining-engages-mining-contractor-for-campo-morado-850937255.html
Luca Mining Corp. Aug 06, 2024, 07:00 ET
VANCOUVER, BC, Aug. 6, 2024 /CNW/ - Luca Mining Corp. ("Luca" or the "Company") (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) is pleased to announce that it has engaged Cominvi, S.A. de C.V. ("Cominvi") to carry out core mining operations at the Company's 100% owned Campo Morado copper-zinc-gold mine located in the state of Guerrero in southwestern Mexico.
Cominvi is one of the largest and most respected mining contractors in Latin America with a particular expertise in underground mining. They have a well-earned reputation for delivering excellent results with the highest degree of safety and responsibility.
Working with Cominvi will allow Luca to quickly increase production at Campo Morado and will provide cost effective access to newer mining equipment for the Company's ongoing operations. The addition of Cominvi to our operations team will help ensure that Campo Morado can meet and exceed its daily production targets and will provide a rapid path to further increases in production and revenues without incurring significant capital expenditures.
Dan Barnholden, CEO, commented, "I am very pleased to have Cominvi join our team at Campo Morado. They bring incredible expertise and experience and will greatly enhance our operational flexibility. The timing of this decision is fortuitous as Cominvi has just completed a major mining project nearby and therefore, mobilization will occur very quick. We intend to increase our mill throughput from the current 1,400-1,600 tonnes per day ("tpd") to 2,000 tpd by year end and continue to push forward to 2,400 tpd mill rate during 2025. These achievements, along with the Company's previously announced Campo Morado Improvement Project to increase metallurgical recoveries and produce higher value concentrates, will have a material positive impact on the Company's production, costs and cash flow. Cominvi's seasoned team will be an important factor in the execution of these plans."
About Luca Mining Corp
Luca Mining (TSX-V: LUCA, OTCQX: LUCMF, Frankfurt: Z68) is a diversified Canadian mining company with two 100%-owned producing mines in Mexico within the prolific Sierra Madre Mineral Belt. The Company produces gold, copper, zinc, silver and lead from these mines that each have considerable development and resource upside.
The Campo Morado mine, is an underground operation located in Guerrero State, an important mining region in Mexico. It produces copper-zinc-lead concentrates with precious metals credits. It is currently undergoing an optimisation program which is already generating significant improvements in recoveries and grades, efficiencies, and cashflows. The mill at Campo Morado has a capacity of 2,400 tonnes per day.
The Tahuehueto Gold, Silver mine is a new underground mine in Durango State, Mexico which hosts numerous producing and historic mines on trend. Tahuehueto has a designed processing capacity of 1,000 tonnes per day and expected to achieve commercial production in 2H 2024.
Luca Mining is focused on growth with the aim of maximizing shareholder returns.
For more information, please visit: www.lucamining.com
On Behalf of the Board of Directors
(signed) "Dan Barnholden"
Dan Barnholden, Chief Executive Officer
Qualified Persons
The technical information contained in this News Release has been reviewed and approved by Mr. Chris Richings, Vice-President Technical at Luca Mining as the Qualified Person for the Company as defined in National Instrument 43-101.
Cautionary Note Regarding Production Decisions and Forward-Looking Statements
It should be noted that Luca declared commercial production at Campo Morado prior to completing a feasibility study of mineral reserves demonstrating economic and technical viability. Accordingly, readers should be cautioned that Luca's production decision has been made without a comprehensive feasibility study of established reserves such that there is greater risk and uncertainty as to future economic results from the Campo Morado mine and a higher technical risk of failure than would be the case if a feasibility study were completed and relied upon to make a production decision. Luca has completed a preliminary economic assessment ("PEA") mining study on the Campo Morado mine that provides a conceptual life of mine plan and a preliminary economic analysis based on the previously identified mineral resources (see news releases dated November 8, 2017, and April 4, 2018).
Positive operating cash flow is defined as excluding capital, debt repayment and Trafigura financing.
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities laws. Forward Looking Information includes, but is not limited to, disclosure regarding the planned program to improve mining operations at Campo Morado; and other possible events, conditions or financial performance that are based on assumptions about future economic conditions and courses of action; the timing and costs of future activities on the Company's properties, such as production rates and increases; success of exploration, development and bulk sample processing activities, and timing for processing at its own mineral processing facility on the Tahuehueto project site. In certain cases, Forward-Looking Information can be identified using words and phrases such as "plans," "expects," "scheduled," "estimates," "forecasts," "intends," "anticipates" or variations of such words and phrases. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, that the current exploration, development, environmental and other objectives concerning the Campo Morado Mine and the Tahuehueto Project can be achieved; that the program to improve mining operations at Campo Morado will proceed as planned; the continuity of the price of gold and other metals, economic and political conditions, and operations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Luca Mining Corp.
For further information about Luca Mining Corp., please contact: Sophia Shane, Director of Corporate Development, Tel: +1 (604) 306-6867, sshane@lucamining.com or Glen Sandwell, Corporate Communications Manager, Tel: +1 (604) 684-8071 ir@lucamining.com
GoGold Releases Q3 2024 Financial Results
https://www.prnewswire.com/news-releases/gogold-releases-q3-2024-financial-results-302217680.html
GoGold Resources Inc. Aug 08, 2024, 08:30 ET
Shares Outstanding: 329,452,261
Trading Symbols: TSX: GGD
OTCQX: GLGDF
SilverCrest Reports Second Quarter 2024 Financial Results
Record Operating Earnings Drives Treasury Growth
2024 Sales Guidance Increased and Cash Cost and AISC Guidance Reduced
https://www.newswire.ca/news-releases/silvercrest-reports-second-quarter-2024-financial-results-887539609.html
SilverCrest Metals Inc. Aug 07, 2024, 17:00 ET
TSX: SIL | NYSE American: SILV
Gatos Silver Reports Second Quarter 2024 Results
https://ca.finance.yahoo.com/news/gatos-silver-reports-second-quarter-201500543.html
Gatos Silver, Inc.
Tue, August 6, 2024 at 1:15 p.m. PDT·25 min read
GATO
-6.65%
VANCOUVER, British Columbia, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Gatos Silver, Inc. (NYSE/TSX: GATO)
Riverside Completes Acquisition and Interpretation of Aeromagnetic Drone Survey at the Cecilia Project in Sonora, Mexico
Upcoming exploration to focus on new magnetic anomaly
https://www.newsfilecorp.com/release/219104
August 07, 2024 7:00 AM EDT | Source: Riverside Resources Inc.
Vancouver, British Columbia--(Newsfile Corp. - August 7, 2024) - Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) ("Riverside" or the "Company"), is pleased to update progress on the Cecilia project where Riverside is working with Fortuna Mining Corp (TSX: FVI) (see March 13, 2024 press release). The Company has completed detailed magnetic susceptibility data acquisition for the entire project area and identified a new magnetic anomaly area of 6 x 2 km² in the southwest part of the project. The company believes this area displays many classic structural controls similar to the mineralization found at the main Cerro Magallanes target area of the project and can become an additional focus of the upcoming exploration activities as well as the already permitted and planned upcoming drill program that is fully funded and scheduled to start in early Q4, 2024.
The current technical work program is completing now as the project moves next to drill testing. The work that has been completed for evaluating and improving drill targets includes geophysics, geochemistry and geology being integrated. The Cecilia Project has good road access with the project located 40 km southwest of Agua Prieta (Mexico-USA border) and 250 km northeast of the capital city of Hermosillo. The project is a titled and 100% Riverside-owned, with drill permits and the ability to progress the drilling in the coming months. The property is a district-scale gold and silver, low-sulfidation epithermal system and is currently optioned with Fortuna Mining earning an initial ownership position through a series of payments and work commitments where Riverside remains as the operator of the exploration program as disclosed in March. The project covers over 60 km² and has over 10 different exploration targets, with at least two nested dome complexes similar to those in Peru at the Yanacocha Mining District and in Bolivia at the Korri Kollo Mine, which have produced well over 25M and 5M oz of gold respectively. The use of aeromagnetics helps further distinguish these targets.
John-Mark Staude, CEO of Riverside, states, "We are delighted to receive this excellent and detailed aeromagnetic survey for the entire 60 km² area from our work with Fortuna Mining on the Cecilia district exploration. We had full access to the surface for conducting field follow-up allowing the project to progress significantly over the past 6 months. Further, the discovery of a new anomaly is an exciting development and we look forward to undertaking additional exploration work on this discovery over the coming months as well as the fully funded drilling. Having the drill permit, mineral title and funding with a partner aligned in our exploration creates the platform for potential success with drilling activities proceeding in the near term. We look forward to the drill turning and having results from this project as well as updates on other activities that are underway into the fourth quarter of 2024."
Riverside has completed the acquisition of aeromagnetic data expanding on an earlier and more focused survey where Riverside drilled and intersected gold mineralization. The new UAV magnetic data now covers the entire Cecilia project area of 60 km² with Riverside having full access to the entire property featuring a total flying of 658 line kilometers. Using this new, higher resolution magnetic data aids in interpreting and refining previous targets identified by Riverside. The results identified strong NW-trending magnetic lineaments in the southwestern corner of the project area (Figure 1). This data was not available in earlier results whereby the Company now has access to this region for the first time. This new magnetic anomalous area reflects a strong NW-trend which is similar to the main previously mined and drilled Au-mineralization structural trends like the San Jose Structural trend and Mesa Target (Figure 1A). Additionally, these lineaments bound the Magallancito dome and may be related to sharp contacts or fault-related contacts of intrusions around this target. Such strong structural features are typical of other major mining dome districts including Yanacocha, Peru and Mulatos, Sonora.
Some perpendicular magnetic lineaments in the project appear to define NE-trending zones along strike that generally serve as the main mineralization controls in the district and at surface have associated occurrences of Au-Ag mineralization (e.g. Agua Prieta Trend, Figure 1B). The new areas provide additional future focuses further expanding the planned program and continuing to grow the targeting of the project. Structural intersections in the mineralized dome districts of Mexico and other countries such as in Peru, Bolivia and USA often define focused locations of geologic faults which can provide fluid pathways for higher grade hydrothermal breccias and mineralization.
The acquisition and processing of the magnetic data were completed by Zonge International, Inc. This resulted in the merging and leveling of the historic UAV databases acquired recently by Riverside in the Magallanes Target, producing various merged data interpretations including; total magnetic intensity, reduction to the pole, 1st vertical derivative, and tilt derivative of the reduction to the pole processing's. The updated 3D inversion model helps delineate the targets at depth and is being used for modeling drill collars and plans for upcoming drilling. This drilling is expected to start in the fourth quarter of 2024, with Fortuna Mining as the funding partner.
Figure 1.
A. Updated 1:10.000 geological map of the Cecilia project.
B. New target area at Magallancito over Total Magnetic Intensity (TMI) Reduced to North Pole map. The target areas dashed with scales of multiple kilometers.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/219104_17c80cf5a451ea58_002full.jpg
About the Cecilia Project:
Riverside Resources owns the project and has undertaken comprehensive exploration efforts at the property, including drilling activities that have yielded significant gold intercepts. Notably, drill results have intersected near surface promising intercepts such as 24.2 meters at 1.51 grams per ton of gold (April 15, 2021 press release) within the rhyodacite dome, showcasing the property's gold at shallow depths which also has been mined in over a dozen locations including some substantial small scale underground prospect mining. The project has potential to follow these intercepts and go for larger targets at depth is the next planned drilling activity.
One distinguishing aspect of this project is the potential to preserve a fertile dome system. The Magallanes Target, situated at the central part of the project, exhibits interaction within extensive NE and NW structures, presenting a compelling opportunity for the discovery of epithermal gold-silver style mineralization. This geological scheme of the Cecilia Project resembles the Tertiary-age rhyolite systems, like the La Pitarrilla Ag-Pb-Zn project (~800M oz AgEq*) and Fresnillo's San Julian Ag-Au Mine (~350M oz AgEq**), both situated in Durango, Mexico in the similar Sierra Madre Volcanic Province to Cecilia.
*Mineral Resource estimate for the Pitarrilla Ag Pb Zn Project, Durango, Mexico, SSR Mining, March, 2023.
**Obtained from Fresnillo public presentation, Hermosillo, October, 2016
Qualified Person & QA/QC:
The scientific and technical data contained in this news release pertaining to the Cecilia Project was reviewed and approved by Julian Manco, P.Geo, a non-independent qualified person to Riverside Resources focusing on the work in Sonora, Mexico, who is responsible for ensuring that the information provided in this news release is accurate and who acts as a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $5M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside's own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company's website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
"John-Mark Staude"
Dr. John-Mark Staude, President & CEO
For additional information contact:
John-Mark Staude
President, CEO
Riverside Resources Inc.
info@rivres.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com
Eric Negraeff
Investor Relations
Riverside Resources Inc.
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., "expect"," estimates", "intends", "anticipates", "believes", "plans"). Such information involves known and unknown risks -- including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Riverside Resources Inc.
Prismo Metals Mobilizes for Palos Verdes Drilling
https://www.accesswire.com/894687/prismo-metals-mobilizes-for-palos-verdes-drilling
Wednesday, 31 July 2024 08:25 AM
VANCOUVER, BC / ACCESSWIRE / July 31, 2024 / Prismo Metals Inc. (CSE:PRIZ)(OTCQB:PMOMF)(FSE:7KU) ("Prismo" or the "Company") is pleased to announce that a man-portable drill is mobilizing for the Company's upcoming drill program at the Palos Verdes property located in the Panuco district in Sinaloa, Mexico. Drilling is planned to begin the week of August 5th. The drilling program is a collaborative effort between Prismo and Vizsla Silver Corp. (TSXV: VZLA "Vizsla") and will test targets on the Palos Verdes concession utilizing drill pads located on Vizsla's concessions adjacent to Palos Verdes for greater drilling efficiency.
The drill program follows three main target recommendations made by Panuco Joint Technical Committee comprised of Prismo's Chief Exploration Officer Dr. Craig Gibson, Vizsla Silver's VP Exploration Dr. Jesus Velador and Advisor Dr. Peter Megaw. The program has three main goals (See Figs.1 & 2 below):
Trace the down dip extension of the mineralized shoot defined by previous drilling on the southwest portion of the vein.
Seek continuation of the vein on the northeast extension of the vein across a cross-fault believed to have offset the vein downward.
Test the extreme northeasterly extension of the Palos Verdes vein system near the concession limit adjacent to the historical Jesusita mine.
"We are eager to resume tracing the high-grade mineralization we've cut previously in the Palos Verdes vein by taking advantage of better hole geometry created by drilling from our Strategic Partner Vizsla Silver's ground," said Dr. Craig Gibson, Chief Exploration Officer of the Company. "Drilling farther from the vein outcrops will let us drill Palos Verdes well below the limited depths we could reach from our claims. We deeply appreciate Vizsla's willingness to allow the drilling from their ground."
This is the Company's fourth drill campaign on Palos Verdes and is designed to test the vein up to one hundred meters below the high-grade mineralization cut by several previous holes. Assays reported from last year's drilling include hole PV-23-25 with 102 g/t gold, 3,100 g/t silver and 0.26% zinc over 0.5 meters, or 11,520 g/t silver equivalent - the highest-grade intercept recorded at the project to date (see News Release of July 27, 2023).
Geologic modeling completed after that drilling shows that the Palos Verdes vein system is apparently comprised of at least three discrete structures: 1) The main Palos Verdes vein with a steep southeast dip; 2) A steeply southeast dipping hangingwall vein; and 3) A relatively gold-rich flat lying vein that has high gold-silver ratios similar to those in the western part of the camp.
"We are very excited to continue drilling this vein system that has already returned outstanding results. Combined with our fully permitted Hot Breccia copper project in the heart of the Arizona copper belt, Prismo expects a very active second half of 2024 with multiple drill program results from these two world class exploration projects," said CEO Alain Lambert.
More information about the proposed drill program at Palos Verdes is available on the Company's website at: https://prismometals.com/project/palos-verdes-presentation
Figure 1. Geologic and drill hole map of the Palos Verdes and adjacent concessions showing the surface projection of interpreted mineralized shoots based on surface assays and the location of an interpreted high-level alteration assemblage identified in core. Note northwest-southeast trending fault in the center of the claim that is believed to have dropped-down the northeastern extension of the vein system. Drill pads for holes to be collared on Vizsla Silver ground are shown in purple and will test target areas indicated on the surface by the red ellipses.
Figure 2. 3D view of the sub-surface at Palos Verdes looking westerly showing veins in the southwestern Palos Verdes concession and planned holes in light blue and green. For clarity, the veins in the northeast and the NW shear are not shown.
For more information about this news release, please watch Prismo's latest In The News video at:
Torex Gold Provides Q2 2024 Update on Media Luna Project
Project on schedule and fully funded; stronger Mexican peso now incorporated into final capital expenditure budget
July 29, 2024 6:00 PM EDT | Source: Torex Gold Resources Inc.
(All amounts expressed in U.S. dollars unless otherwise stated)
Toronto, Ontario--(Newsfile Corp. - July 29, 2024) - Torex Gold Resources Inc. (the "Company" or "Torex") (TSX: TXG
Luca Mining Announces Major Exploration Program
https://www.newswire.ca/news-releases/luca-mining-announces-major-exploration-program-825107414.html
Luca Mining Corp. Jul 31, 2024, 07:00 ET
VANCOUVER, BC, July 31, 2024 /CNW/ - Luca Mining Corp. ("Luca" or the "Company") (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) is pleased to announce plans for an exploration drilling campaign at both Campo Morado and Tahuehueto. Approximately 5,000 metres will be drilled at each project (10,000 meters total) during Q3 and Q4 of 2024, to test high potential targets on trend with the current mining areas.
Campo Morado
Campo Morado is a large VMS polymetallic system hosting substantial mineral resources of copper, zinc, gold and silver. The Campo Morado project includes an operating mine and associated infrastructure. The mine is generating positive, free operating cash flow. Over $500 million has been invested in the mine and mill from exploration, discovery, construction and operation. The mill is capable of processing over 2,000 tonnes per day. The property area encompasses 121 square kilometres (12,090 hectares) in the state of Guerrero in southwestern Mexico within the prolific Sierra Madre mineral belt.
The new exploration campaign is the first exploration at Campo Morado since 2013.
There are over 30 known targets that have never been tested.
The top 4 targets are within the fully permitted mining zone.
In the current campaign, the Company will be looking to explore the project's promising copper and gold potential.
An extensive inventory of historical drilling data (580,800+ metres) along with geophysics and geochemistry is being used to evaluate and prioritize drill targets.
What is exciting about typical VMS systems such as Campo Morado, is that they usually comprise multiple, discrete halos or pods of mineralization. Due to the nature of the deposit style, at many of the large VMS camps around the world, successful ongoing exploration and development has continued for decades. For example, the nearby Tizapa Mine (Peñoles/Dowa Mining/Sumitomo) is a similar VMS underground mine 92km north of Campo Morado. It is in its 30th year of production. We look forward to examining the long-term upside potential at Campo Morado.
Tahuehueto
Tahuehueto is a brand-new gold mine and is expected to achieve commercial production with an average run rate of 800 tpd at its mill in the next few weeks. Name plate capacity at the mill is currently 1,000 tpd. Tahuehueto is a large epithermal gold/silver vein system with associated breccias rich in Pb-Zn-Cu. The property comprises 75 square kilometres (7,492 hectares) and is located in the state of Durango in north-central Mexico within the Sierra Madre mineral belt.
Mineralization is open along strike and at depth for most of the modeled resource areas
Step-out drilling along strike (north and south) and to depth will be carried out to determine the vertical and lateral extent of mineralization.
Characterize and identify mineralized brecciated zones within the known epithermal vein systems.
Rapid development of new resources discovered.
Tahuehueto, being a new mine, has significant exploration potential. It is estimated that less than 10% of the concession area has been explored. Tahuehueto is comparable in concession area to the Tayoltita mine of the San Dimas district to the south, with both mines hosting epithermal mineralization. It is estimated that the San Dimas district has produced over 11 million ounces of gold to date (Technical Report on Mineral Resource and Reserve Update December 2020, First Majestic Silver Corp.).
Dan Barnholden, CEO, commented, "The exploration potential at Campo Morado and Tahuehueto is game changing. Both projects already have demonstrated strong cash flow potential and exploration success at one or both projects will take Luca into a new league. We intend to grow our company and are targeting no less than 200,000 oz Au Eq production and our development, exploration and expansion plans have the potential to get us there."
Christopher Richings, VP Technical, commented, "For the first time in over 10 years, the Company has developed a strategic exploration program that will build our resource base at both sites, add value to our metal production profile and provide the foundation for exceptional new growth. We will be leveraging advanced geological understanding and a large amount of technical data to guide the upcoming campaign and drive success."
About Luca Mining Corp
Luca Mining (TSX-V: LUCA, OTCQX: LUCMF, Frankfurt: Z68) is a diversified Canadian mining company with two 100%-owned producing mines in Mexico within the prolific Sierra Madre Mineral Belt. The Company produces gold, copper, zinc, silver and lead from these mines that each have considerable development and resource upside.
The Campo Morado mine, is an underground operation located in Guerrero State, an important mining region in Mexico. It produces zinc and "bulk" copper-lead concentrates with precious metals credits. It is currently undergoing an optimisation program which is already generating significant improvements in metallurgical recoveries, efficiencies, and cashflows. The Tahuehueto Gold, Silver mine is a new underground mine in Durango State, Mexico which hosts numerous producing and historic mines on the same regional trend. Tahuehueto has a designed processing capacity of 1,000 tonnes per day and is expected to achieve commercial production in 2H 2024.
Luca Mining is focused on growth with the aim of maximizing shareholder returns.
For more information, please visit: www.lucamining.com
On Behalf of the Board of Directors
(signed) "Dan Barnholden"
Dan Barnholden, Chief Executive Officer
Qualified Persons
The technical information contained in this News Release has been reviewed and approved by Mr. Chris Richings, Vice-President Technical at Luca Mining as the Qualified Person for the Company as defined in National Instrument 43-101.
Cautionary Note Regarding Production Decisions and Forward-Looking Statements
It should be noted that Luca declared commercial production at Campo Morado prior to completing a feasibility study of mineral reserves demonstrating economic and technical viability. Accordingly, readers should be cautioned that Luca's production decision has been made without a comprehensive feasibility study of established reserves such that there is greater risk and uncertainty as to future economic results from the Campo Morado mine and a higher technical risk of failure than would be the case if a feasibility study were completed and relied upon to make a production decision. Luca has completed a preliminary economic assessment ("PEA") mining study on the Campo Morado mine that provides a conceptual life of mine plan and a preliminary economic analysis based on the previously identified mineral resources (see news releases dated November 8, 2017, and April 4, 2018).
Positive operating cash flow is defined as excluding capital, debt repayment and Trafigura financing.
Pricing assumptions in connection with gold equivalent production estimates: Gold $1,850/oz | Copper $3.65/lb| Zinc $1.15/lb | Lead $0.92lb | Silver $22.50/oz
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities laws. Forward Looking Information includes, but is not limited to, disclosure regarding the planned program to improve mining operations at Campo Morado; and other possible events, conditions or financial performance that are based on assumptions about future economic conditions and courses of action; the timing and costs of future activities on the Company's properties, such as production rates and increases; success of exploration, development and bulk sample processing activities, and timing for processing at its own mineral processing facility on the Tahuehueto project site. In certain cases, Forward-Looking Information can be identified using words and phrases such as "plans," "expects," "scheduled," "estimates," "forecasts," "intends," "anticipates" or variations of such words and phrases. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, that the current exploration, development, environmental and other objectives concerning the Campo Morado Mine and the Tahuehueto Project can be achieved; that the program to improve mining operations at Campo Morado will proceed as planned; the continuity of the price of gold and other metals, economic and political conditions, and operations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Luca Mining Corp.
For further information about Luca Mining Corp., please contact: Sophia Shane, Director of Corporate Development, Tel: +1 (604) 306-6867, sshane@lucamining.com or Glen Sandwell, Corporate Communications Manager, Tel: +1 (604) 684-8071, ir@lucamining.com
Silver Tiger Intersects 50.7 Metres of 155.0 g/t Silver Equivalent in the Stockwork Zone Including 14.3 Metres of 334.3 g/t Silver Equivalent Within the High-Grade Keel Zone
https://www.accesswire.com/893917/silver-tiger-intersects-507-metres-of-1550-gt-silver-equivalent-in-the-stockwork-zone-including-143-metres-of-3343-gt-silver-equivalent-within-the-high-grade-keel-zone
Tuesday, 30 July 2024 07:00 AM
HALIFAX, NS / ACCESSWIRE / July 30, 2024 / Silver Tiger Metals Inc. (TSXV:SLVR) and (OTCQX:SLVTF)
First Majestic Announces New High-Grade Gold and Silver Discovery at Santa Elena
https://www.newsfilecorp.com/release/218169
July 30, 2024 7:00 AM EDT | Source: First Majestic Silver Corp.
Vancouver, British Columbia--(Newsfile Corp. - July 30, 2024) - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV)
Sierra Madre Announces First Silver-Gold Concentrate Shipment
https://www.newsfilecorp.com/release/218150
July 30, 2024 7:00 AM EDT | Source: Sierra Madre Gold & Silver
Vancouver, British Columbia--(Newsfile Corp. - July 30, 2024) - Sierra Madre Gold and Silver Ltd. (TSXV: SM) (OTCQX: SMDRF) ("Sierra Madre" or the "Company") is pleased to announce first shipments of silver and gold concentrates from the 100% owned Guitarra Mine Complex located in Estado de Mexico, Mexico. On July 25, 2024 the Company shipped 90.68 dry metric tonnes ("DMT") which contained approximately 3,000 grams of silver and 30 grams gold per DMT. The Company has approximately 90 dry metric tonnes of additional concentrate that is expected to ship later this week.
The Company will continue to increase production with a goal of reaching 500 tonnes per day ("TPD") of throughput for approximately 350 DMT of silver-gold concentrate production per month by year-end.
Alex Langer, Chief Executive Officer, stated, "This marks another important milestone for Sierra Madre. With the start of cashflows from concentrate the Company will be receiving revenues on a weekly basis. These revenues should allow us to comfortably expand to commercial production without further capital needs."
At the current test mining and test processing thruput of 259 TPD, the Company expects to have concentrate shipments and corresponding revenues on a weekly basis.
Figure 1: First Concentrate Shipment at Guitarra
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10436/218150_4b87c73354e19ba9_002full.jpg
Qualified Person
Mr. Gregory Smith, P. Geo, Director of Sierra Madre, is a Qualified Person as defined by NI 43-101, and has reviewed and approved the technical data and information contained in this news release. Mr. Smith has verified the technical and scientific data disclosed herein.
About Sierra Madre
Sierra Madre Gold and Silver Ltd. (TSXV: SM) (OTCQX: SMDRF) is a precious metals development and exploration company focused on evaluating the potential of restarting the Guitarra mine in the Temascaltepec mining district, Mexico, and the exploration and development of its Tepic property in Nayarit, Mexico. The Guitarra mine is a permitted, past-producing underground mine, which includes a 500 t/d processing facility that operated until mid-2018.
The +2,600 ha Tepic Project hosts low-sulphidation epithermal gold and silver mineralization with an existing historic resource.
Sierra Madre's management team has played key roles in managing the exploration and development of more than 22Moz gold and 600Moz silver in combined mineral reserves and mineral resources. Sierra Madre's team of professionals has collectively raised over $1 billion for mining companies.
On behalf of the board of directors of Sierra Madre Gold and Silver Ltd.,
"Alexander Langer"
Alexander Langer
President, Chief Executive Officer and Director
1-604-765-1604
Contact:
investor@sierramadregoldandsilver.com
Cautionary Note Regarding Production Decisions
The Company's decision to potentially place the mine into commercial production, expand a mine, make other production related decisions or otherwise carry out mining and processing operations, is largely based on internal non-public Company data and reports from previous operations. The Company is not basing any production decisions on NI 43-101 compliant reserve estimates, preliminary economic assessments or feasibility studies and, as a result, there is greater risk and uncertainty as to future economic results from the Guitarra Mine Complex, including increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit, and a higher technical risk of failure than would be the case if a feasibility study were completed and relied upon to make a production decision.
Cautionary Note Regarding Forward-Looking Information
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements include, without limitation, statements regarding discussions of future plans, including the expected timing of concentrate shipments; the Company increasing production; the Company receiving revenues on a weekly basis and such revenues allowing the Company to comfortably expand to commercial production without further capital needs; and the Company's plan to return the Guitarra mine to full commercial production and the expected timing and production levels thereof.
The forward-looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that predicted production levels will be achieved and that existing production levels will be maintained.
In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that the Company will be able to execute its future plans as intended, that predicted production levels will be achieved and that existing production levels will be maintained.
Although management of the Company has attempted identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes.
SOURCE: Sierra Madre Gold and Silver Ltd.
SOURCE: Sierra Madre Gold & Silver
Infinitum Provides Update on Progress at La Adelita and Hot Breccia Project
https://www.newsfilecorp.com/release/218086
July 29, 2024 1:37 AM EDT | Source: Infinitum Copper Corp.
Vancouver, British Columbia--(Newsfile Corp. - July 29, 2024) - Infinitum Copper Corp. (TSXV: INFI) (OTCQB: INUMF) ("Infinitum Copper" or the "Company") is pleased to provide an update on progress at the La Adelita project in Mexico, recent developments at the Hot Breccia project.
La Adelita
The Company is excited to be mobilising equipment during the week beginning 29th July 2024. These preliminary works will provide access to the Cerro Grande adit. Once the historic adit can be accessed a mining contractor will be engaged to drive a 100m long 3 metre x 3 metre access tunnel to the mineralised body. This access tunnel will intercept drill hole AD1010 drilled in 2022. AD022 encountered x% copper, 1 g/t Au over a true width of x metres.
Cautionary Note Regarding Production Decisions
The Company's decision to potentially place the mine into production, expand a mine, make other production related decisions or otherwise carry out mining and processing operations, is largely based on internal non-public Company data and reports from previous operations. The Company is not basing any production decisions on NI 43-101 compliant reserve estimates, preliminary economic assessments or feasibility studies and, as a result, there is greater risk and uncertainty as to future economic results from, including increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit, and a higher technical risk of failure than would be the case if a feasibility study were completed and relied upon to make a production decision.
Hot Breccia
The Company granted an option to Prismo Metals in January 2023. Prismo has continued to advance the project completing a VTEM survey in July 2023. Drilling permits were received from the Bureau of Land Management for 10 drill pads.
Steve Robertson, President of Prismo Metals and former President of the Company, commented, "Getting the permit approval to proceed with this important drill program is a defining event for Prismo Metals as it marks the first time in five decades that exploration on this attractive target can be activated on a property where historical drillings reported several copper intercepts that exceeded 1% copper and elevated zinc. This 5,000-metre program will provide critical information on the vectoring needed to lead us to the heart of the yet another mineralizing system in one of the most prolific copper districts on the planet."
The board has also agreed a remuneration package for current directors and key personnel. A total of 1,340,000 DSUs vesting 16th March 2026 and 1,650,000 options with a strike price of $0.08 vesting in 3 tranches beginning March 2025 will be used to compensate directors and key personnel.
On Behalf of the Board of Directors of
INFINITUM COPPER CORP.
Matt Hudson
Chief Executive Officer
matt@infinitumcopper.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Infinitum Copper
Backed by a strong team of industry veterans, Infinitum Copper is advancing La Adelita project, where the Company has an option to earn an 80% interest. The high-grade copper-silver-gold La Adelita Project is located in Sonora and Sinaloa states in Mexico. La Adelita is a Carbonate Replacement Deposit located in a mineralized district with a rich history.
Infinitum Copper has an option to earn 25% interest in the Hot Breccia project in the heart of the Arizona Copper Belt about 90km north of Tucson, AZ. The Hot Breccia project is prospective for porphyry copper and copper skarn mineralization.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking information" within the meaning of Canadian securities legislation. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Forward-Looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by the Company at the date the forward-looking information is provided, are inherently subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially different from those expressed or implied by the forward-looking information. The risks, uncertainties, contingencies and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking information may include, but are not limited to, risks generally associated with the Company's business, as described in the Company's Filing Statement dated February 11, 2022. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
MAG Announces Second Quarter 2024 Production From Juanicipio and Increases Grade Guidance
https://ca.finance.yahoo.com/news/mag-announces-second-quarter-2024-105500881.html
MAG Silver Corp.
Wed, July 24, 2024 at 3:55 a.m. PDT·4 min read
MAG
-0.11%
VANCOUVER, British Columbia, July 24, 2024 (GLOBE NEWSWIRE) -- MAG Silver Corp. (TSX / NYSE American: MAG)
Endeavour Silver provides a Q2 2024 construction progress update on Terronera; the surface construction progress has reached 77% completion
https://ca.finance.yahoo.com/news/endeavour-silver-provides-q2-2024-105000470.html
Endeavour Silver Corporation
Wed, July 24, 2024 at 3:50 a.m. PDT·6 min read
EXK
-1.50%
VANCOUVER, British Columbia, July 24, 2024 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. ("Endeavour" or the "Company") (NYSE: EXK; TSX: EDR) is pleased to provide a Q2 2024 construction progress update for its Terronera Project in Jalisco state, Mexico. A photo gallery presentation accompanies this news release and can be found here or on the Company website at Terronera Project Progress Photos. All dollar ($) references in this news release are United States dollars.
The Terronera project continued to make significant progress in the second quarter, as concrete and structural steel work are nearing completion on the Upper Plant Platform for areas including crushing, coarse-ore storage, grinding, flotation, and thickening. The Project remains on track for commissioning in Q4 2024 as major mechanical installations continued to advance on schedule.
"Construction is well past the halfway mark, and site activities are beginning to peak," commented Don Gray, Chief Operating Officer. "We are very pleased with the advance at the Upper Platform, which should be ready for dry commissioning in Q3 2024. We are concentrating resources on the Lower Platform to finalize earthworks and begin concrete works in early Q3. Underground mine development continues advancing in line with expectations as we accessed ore in Q2. We are extremely pleased with our Terronera team and their progress. With project completion in sight, our focus has expanded to implementing our business readiness plan as we prepare for operating Endeavour's next core asset."
Q2 2024 Construction and Development Highlights
As of June 30, 2024, site works and activities included:
Safety – The highest workplace priority is the health and safety of our employees and contractors, with a commitment to provide the tools, training, and resources needed to identify risks and apply effective controls. Recently, underground operations increased rescue brigade participation by 40%, and two self-contained mine refuge stations were installed.
Progress – Overall project progress (mine development and surface construction) reached 64.5% completion, with more than $204 million (1) of the project's budget spent to date. Project commitments total $260 million (1,2), 96% of the $271 million capital budget.
Engineering – Efforts have transitioned to construction support. During the quarter, a detailed design was completed for the tailing storage facility, Portal 2 waste dump, and the Lower Platform excavation.
Mine Development – Over the quarter, over 1,270 meters were developed underground, totaling nearly 4,500 meters.
Upper Platform Plant Site – Surface mill and infrastructure construction is 88% complete and progressing on schedule. Concrete work and structural steel erection are 100% complete.
Primary Crusher – Structural and mechanical construction is complete on the conveyor and apron feeder support steel, and the apron feeder was placed in position. Conveyors are belted, and belts vulcanized. Cabling and terminations are ongoing.
Coarse Ore Stockpile and Reclaim ("COS") Tunnel – SAG Feed Conveyor and belt were installed. Piping, electrical, and instrumentation are ongoing.
Grinding – SAG and ball mill are installed. Piping, mechanical, electrical, and instrumentation are ongoing.
Flotation – Piping, mechanical, electrical, and instrumentation are ongoing. Flotation equipment, including blowers, instruments, and valves, is expected to be procured in early Q3.
Tailing Thickener – The Tailings thickener is complete and signed off. Some steel modifications, such as piping, mechanical, electrical, and instrumentation, are ongoing. Procurement monitoring of some equipment (tanks), instruments, and valves is ongoing.
Lower Facilities Platform and Tailing Storage Facility – Excavation for the tailing storage facility embankment key trench was over 95% complete, and the Lower Platform area was nearly 50% complete. Concrete work on the lower platform is scheduled to start in early Q3.
Procurement – Bulk materials purchase orders have been released, and lead times are aligned with the current schedule. The Procurement team has focused on critical path purchases, such as electrical components and transfer chutes, and reducing bulk material lead times to increase schedule float.
Onsite Personnel – At the end of Q2, the workforce increased to over 190 Endeavour employees and over 700 contractor workers.
Community Relations – Local community support continues to be a major commitment. A plant-operator training program for local community members has been established. The Company is also preparing a comprehensive training and support services plan for groups and individuals seeking to form businesses that can provide local goods and services.
Environmental – Environmental and social impact assessment initiatives continue and will be presented in early Q3 (July 2024), with a 3-month delay compared to the schedule outlined under the Equator Principles requirements for project loan financing.
Next Steps and Planning
The Terronera Project remains on track for commissioning in Q4 2024.
For Q3 2024, surface construction will continue to focus on mechanical, piping, and electrical installations. Completing the Lower Platform excavation is anticipated to be no later than mid-Q3 2024. Concrete work for the tailing and concentrate filtration areas is expected to begin in early Q3 2024, with the LNG and power generation areas to follow. The Company anticipates commissioning using temporary power with the LNG and power generation to be operational subsequent to commissioning. The temporary power has been planned and is expected to be available for Q4. Concentrate and tailing filtration structural, mechanical, and electrical installations will commence as concrete work is completed.
Mine development in Portals 1, 2, and 4 declines will continue, with a test long-hole stop being developed in Q3 2024. Initial long-hole production is planned for early Q4, followed by cut-and-fill mining; ore will be stockpiled for mill ramp-up. At La Luz, development activities are anticipated to begin in Q3, with the portal being constructed and the ramp to ore access being advanced in Q4.
The critical path remains the TSF, Lower Platform construction, and the advancing underground mine.
Visit www.terronera.com, our dedicated project website, to stay informed on the ongoing development at Terronera. Explore updates, learn about our commitment to environmental stewardship, and discover the positive impacts on local communities.
About Endeavour Silver: Endeavour is a mid-tier precious metals company committed to sustainable and responsible mining practices. With operations in Mexico and the development of the new cornerstone mine in Jalisco State, the Company aims to contribute positively to the mining industry and the communities in which it operates. In addition, Endeavour has a portfolio of exploration projects in Mexico, Chile, and the United States, which has helped it achieve its goal of becoming a premier senior silver producer.
Contact Information
Allison Pettit, Director of Investor Relations
Tel: (604) 640 4804
Email: apettit@edrsilver.com
Website: www.edrsilver.com
Follow Endeavour Silver on Facebook, X, Instagram and LinkedIn
Footnote:
Financial figures are based on a preliminary estimate. Final unaudited figures will be released with the Q2 2024 financial statements on August 1, 2024.
Project commitments include total project expenditures.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding the development and financing of the Terronera Project, including capital cost estimates, the anticipated timing of the project construction, Terronera's forecasted operations, costs and expenditures, and the timing and results of various related activities. The Company does not intend to and does not assume any obligation to update forward-looking statements or information other than as required by applicable law.
Forward-looking statements or information involve known and unknown risks, uncertainties, and other factors that may cause Endeavor's actual results, level of activity, production levels, performance, or achievements, and its operations to be materially different from those expressed or implied by such statements. Such factors include but are not limited changes in production and costs guidance; the ongoing effects of inflation and supply chain issues on mine economics; national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada, Chile, the USA and Mexico; financial risks due to precious metals prices; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development; risks in obtaining necessary licenses and permits; satisfaction of conditions precedent to drawdown under the project loan debt facility; the ongoing effects of inflation and supply chain issues on the Terronera Project economics; fluctuations in the prices of silver and gold, fluctuations in the currency markets (particularly the Mexican peso, Chilean peso, Canadian dollar and US dollar); and challenges to the Company's title to properties; as well as those factors described in the section "risk factors" contained in the Company's most recent form 40F/Annual Information Form filed with the SEC and Canadian securities regulatory authorities.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the continued operation of the Company's mining operations, no material adverse change in the market price of commodities forecasted Terronera mine economics as of 2024, mining operations will operate, and the mining products will be completed under management's expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, other factors may cause results to be materially different from those anticipated, described, estimated, assessed, or intended. There can be no assurance that any forward-looking statements or information will be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
Endeavour Silver provides a Q2 2024 construction progress update on Terronera; the surface construction progress has reached 77% completion
https://ca.finance.yahoo.com/news/endeavour-silver-provides-q2-2024-105000470.html
Endeavour Silver Corporation
Wed, July 24, 2024 at 3:50 a.m. PDT·6 min read
EXK
-1.09%
VANCOUVER, British Columbia, July 24, 2024 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. ("Endeavour" or the "Company") (NYSE: EXK; TSX: EDR) is pleased to provide a Q2 2024 construction progress update for its Terronera Project in Jalisco state, Mexico. A photo gallery presentation accompanies this news release and can be found here or on the Company website at Terronera Project Progress Photos. All dollar ($) references in this news release are United States dollars.
The Terronera project continued to make significant progress in the second quarter, as concrete and structural steel work are nearing completion on the Upper Plant Platform for areas including crushing, coarse-ore storage, grinding, flotation, and thickening. The Project remains on track for commissioning in Q4 2024 as major mechanical installations continued to advance on schedule.
"Construction is well past the halfway mark, and site activities are beginning to peak," commented Don Gray, Chief Operating Officer. "We are very pleased with the advance at the Upper Platform, which should be ready for dry commissioning in Q3 2024. We are concentrating resources on the Lower Platform to finalize earthworks and begin concrete works in early Q3. Underground mine development continues advancing in line with expectations as we accessed ore in Q2. We are extremely pleased with our Terronera team and their progress. With project completion in sight, our focus has expanded to implementing our business readiness plan as we prepare for operating Endeavour's next core asset."
Q2 2024 Construction and Development Highlights
As of June 30, 2024, site works and activities included:
Safety – The highest workplace priority is the health and safety of our employees and contractors, with a commitment to provide the tools, training, and resources needed to identify risks and apply effective controls. Recently, underground operations increased rescue brigade participation by 40%, and two self-contained mine refuge stations were installed.
Progress – Overall project progress (mine development and surface construction) reached 64.5% completion, with more than $204 million (1) of the project's budget spent to date. Project commitments total $260 million (1,2), 96% of the $271 million capital budget.
Engineering – Efforts have transitioned to construction support. During the quarter, a detailed design was completed for the tailing storage facility, Portal 2 waste dump, and the Lower Platform excavation.
Mine Development – Over the quarter, over 1,270 meters were developed underground, totaling nearly 4,500 meters.
Upper Platform Plant Site – Surface mill and infrastructure construction is 88% complete and progressing on schedule. Concrete work and structural steel erection are 100% complete.
Primary Crusher – Structural and mechanical construction is complete on the conveyor and apron feeder support steel, and the apron feeder was placed in position. Conveyors are belted, and belts vulcanized. Cabling and terminations are ongoing.
Coarse Ore Stockpile and Reclaim ("COS") Tunnel – SAG Feed Conveyor and belt were installed. Piping, electrical, and instrumentation are ongoing.
Grinding – SAG and ball mill are installed. Piping, mechanical, electrical, and instrumentation are ongoing.
Flotation – Piping, mechanical, electrical, and instrumentation are ongoing. Flotation equipment, including blowers, instruments, and valves, is expected to be procured in early Q3.
Tailing Thickener – The Tailings thickener is complete and signed off. Some steel modifications, such as piping, mechanical, electrical, and instrumentation, are ongoing. Procurement monitoring of some equipment (tanks), instruments, and valves is ongoing.
Lower Facilities Platform and Tailing Storage Facility – Excavation for the tailing storage facility embankment key trench was over 95% complete, and the Lower Platform area was nearly 50% complete. Concrete work on the lower platform is scheduled to start in early Q3.
Procurement – Bulk materials purchase orders have been released, and lead times are aligned with the current schedule. The Procurement team has focused on critical path purchases, such as electrical components and transfer chutes, and reducing bulk material lead times to increase schedule float.
Onsite Personnel – At the end of Q2, the workforce increased to over 190 Endeavour employees and over 700 contractor workers.
Community Relations – Local community support continues to be a major commitment. A plant-operator training program for local community members has been established. The Company is also preparing a comprehensive training and support services plan for groups and individuals seeking to form businesses that can provide local goods and services.
Environmental – Environmental and social impact assessment initiatives continue and will be presented in early Q3 (July 2024), with a 3-month delay compared to the schedule outlined under the Equator Principles requirements for project loan financing.
Next Steps and Planning
The Terronera Project remains on track for commissioning in Q4 2024.
For Q3 2024, surface construction will continue to focus on mechanical, piping, and electrical installations. Completing the Lower Platform excavation is anticipated to be no later than mid-Q3 2024. Concrete work for the tailing and concentrate filtration areas is expected to begin in early Q3 2024, with the LNG and power generation areas to follow. The Company anticipates commissioning using temporary power with the LNG and power generation to be operational subsequent to commissioning. The temporary power has been planned and is expected to be available for Q4. Concentrate and tailing filtration structural, mechanical, and electrical installations will commence as concrete work is completed.
Mine development in Portals 1, 2, and 4 declines will continue, with a test long-hole stop being developed in Q3 2024. Initial long-hole production is planned for early Q4, followed by cut-and-fill mining; ore will be stockpiled for mill ramp-up. At La Luz, development activities are anticipated to begin in Q3, with the portal being constructed and the ramp to ore access being advanced in Q4.
The critical path remains the TSF, Lower Platform construction, and the advancing underground mine.
Visit www.terronera.com, our dedicated project website, to stay informed on the ongoing development at Terronera. Explore updates, learn about our commitment to environmental stewardship, and discover the positive impacts on local communities.
About Endeavour Silver: Endeavour is a mid-tier precious metals company committed to sustainable and responsible mining practices. With operations in Mexico and the development of the new cornerstone mine in Jalisco State, the Company aims to contribute positively to the mining industry and the communities in which it operates. In addition, Endeavour has a portfolio of exploration projects in Mexico, Chile, and the United States, which has helped it achieve its goal of becoming a premier senior silver producer.
Contact Information
Allison Pettit, Director of Investor Relations
Tel: (604) 640 4804
Email: apettit@edrsilver.com
Website: www.edrsilver.com
Follow Endeavour Silver on Facebook, X, Instagram and LinkedIn
Footnote:
Financial figures are based on a preliminary estimate. Final unaudited figures will be released with the Q2 2024 financial statements on August 1, 2024.
Project commitments include total project expenditures.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding the development and financing of the Terronera Project, including capital cost estimates, the anticipated timing of the project construction, Terronera's forecasted operations, costs and expenditures, and the timing and results of various related activities. The Company does not intend to and does not assume any obligation to update forward-looking statements or information other than as required by applicable law.
Forward-looking statements or information involve known and unknown risks, uncertainties, and other factors that may cause Endeavor's actual results, level of activity, production levels, performance, or achievements, and its operations to be materially different from those expressed or implied by such statements. Such factors include but are not limited changes in production and costs guidance; the ongoing effects of inflation and supply chain issues on mine economics; national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada, Chile, the USA and Mexico; financial risks due to precious metals prices; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development; risks in obtaining necessary licenses and permits; satisfaction of conditions precedent to drawdown under the project loan debt facility; the ongoing effects of inflation and supply chain issues on the Terronera Project economics; fluctuations in the prices of silver and gold, fluctuations in the currency markets (particularly the Mexican peso, Chilean peso, Canadian dollar and US dollar); and challenges to the Company's title to properties; as well as those factors described in the section "risk factors" contained in the Company's most recent form 40F/Annual Information Form filed with the SEC and Canadian securities regulatory authorities.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the continued operation of the Company's mining operations, no material adverse change in the market price of commodities forecasted Terronera mine economics as of 2024, mining operations will operate, and the mining products will be completed under management's expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, other factors may cause results to be materially different from those anticipated, described, estimated, assessed, or intended. There can be no assurance that any forward-looking statements or information will be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
VIZSLA SILVER DELIVERS EXCEPTIONAL ECONOMICS FOR PANUCO IN PRELIMINARY ECONOMIC ASSESSMENT
After-Tax NPV (5%) of US$1,137 million, After-Tax IRR of 85.7%, Initial Capex of US$224 million, Average Annual Production of 15.2 million oz AgEq at AISC of US$9.40 per oz AgEq
https://www.newswire.ca/news-releases/vizsla-silver-delivers-exceptional-economics-for-panuco-in-preliminary-economic-assessment-869772432.html
Vizsla Silver Corp. Jul 24, 2024, 06:00 ET
NYSE: VZLA TSX-V: VZLA
Gatos Silver Reports Continued South-East Deeps Extension Drilling Results at Cerro Los Gatos and Provides Update on Regional Exploration Program
https://ca.finance.yahoo.com/news/gatos-silver-reports-continued-south-201500328.html
Gatos Silver, Inc.
Tue, July 23, 2024 at 1:15 p.m. PDT·20 min read
GATO
-4.18%
VANCOUVER, British Columbia, July 23, 2024 (GLOBE NEWSWIRE) -- Gatos Silver, Inc. (NYSE/TSX: GATO)
MAG Announces Second Quarter 2024 Production From Juanicipio and Increases Grade Guidance
https://ca.finance.yahoo.com/news/mag-announces-second-quarter-2024-105500881.html
MAG Silver Corp.
Wed, July 24, 2024 at 3:55 a.m. PDT·4 min read
MAG
+2.11%
VANCOUVER, British Columbia, July 24, 2024 (GLOBE NEWSWIRE) -- MAG Silver Corp. (TSX / NYSE American: MAG)
Colibri/Tocvan Hits on Exploration Drillholes 450m and 600m Southeast of Main Zone Drills 0.5 g/t Gold and 22 g/t Silver Over 7.6-meters and Expands Mineralized Strike Length Over 900-meters
https://www.accesswire.com/892032/tocvan-hits-on-exploration-drillholes-450m-and-600m-southeast-of-main-zone-drills-05-gt-gold-and-22-gt-silver-over-76-meters-and-expands-mineralized-strike-length-over-900-meters
Wednesday, 24 July 2024 08:30 AM
Highlights:
4-T Trend Exploration Drilling Hits 450m Southeast of Main Zone
JES-24-96, 126.6 meters of 0.1 g/t Au and 2 g/t Ag from surface
Including, 7.6 meters of 0.5 g/t Au and 22 g/t Ag
Including, 1.5 meters of 1.5 g/t Au and 62 g/t Ag
And 1.5 meters of 0.6 g/t Au and 46 g/t Ag
North Hill Trend Exploration Drilling Hits 600m Southeast of Main Zone
JES-24-97, 15.3 meters of 0.1 g/t Au and 2 g/t Ag from 16.8 meters depth
Including, 3.1 meters of 0.3 g/t Au and 5 g/t Ag
Also, 22.9 meters of 0.1 g/t Au and 6 g/t Ag from 155.6 meters depth
Including, 3.1 meters of 0.2 g/t Au and 45 g/t Ag
Infill on Edge of North Hill and Main Zone Trends, 250m Southeast of Main Zone
JES-24-98, 22.9 meters of 0.2 g/t Au and 1 g/t Ag from 24.4 meters depth
Including, 1.5 meters of 0.5 g/t Au and 7 g/t Ag
And 1.5 meters of 0.6 g/t Au
Also, 1.5 meter of 0.7 g/t Au
Three holes Released, All Three Intersect Mineralization
Major Producer Continues District Scale Review of Multi-Million Ounce Potential
Surface Sampling Ongoing to Define Large-Scale Footprint
CALGARY, AB / ACCESSWIRE / July 24, 2024 / Tocvan Ventures Corp. (the "Company") (CSE:TOC)(OTCQB:TCVNF)(FSE:TV3
Minaurum Commences Drill Program to Define Maiden Resource at Alamos Silver Project
https://www.newsfilecorp.com/release/217335
July 23, 2024 8:30 AM EDT | Source: Minaurum Gold Inc.
Vancouver, British Columbia--(Newsfile Corp. - July 23, 2024) - Minaurum Gold Inc. (TSXV: MGG) (OTCQX: MMRGF) ("Minaurum" or "the Company") is pleased to announce the commencement of a minimum 8,000-metre drill program designed to establish an initial National Instrument 43-101 inferred mineral resource at its 100%-owned and fully permitted Alamos silver project ("Alamos") in Sonora, Mexico. Drilling will focus initially on three silver targets including the Europa vein, the historic Promontorio vein zone, and the Promontorio Sur vein zone. These zones were prioritized out of the 19 vein zones that returned high-grade silver drill results.
"We are excited to progress our first three vein zones to a maiden resource. Delivering a resource will begin to align our geological advancements with those we have already made on the permitting side," stated Darrell Rader, President and CEO of Minaurum Gold. "Since we began exploring Alamos, we followed a two-pronged strategy of de-risking the project through simultaneous exploration and permitting. With production permits in place, an initial resource will further our plan of developing Alamos into a turn-key Tier-One silver asset. We plan to complete the resource by the end of 2024 followed by resource-expansion drilling on additional high-grade silver vein zones in 2025."
Minaurum has drilled 42,317 m in 106 core holes on 19 of the 26 vein zones discovered at the Alamos silver project from 2017 - 2023. Fifty-nine core holes totaling 19,909 m were drilled on the Promontorio and Europa vein zones (Figure 1). The maiden inferred mineral-resource drill program will include infill drilling at the Promontorio vein, and step-out drilling down-dip and along-strike at the Europa and Promontorio Sur veins. Exploration has been concentrated in the 5,000-ha northeastern portion of the 37,928-ha land package. Considerable exploration potential remains in the rest of the concession block.
Europa Vein Zone
The Europa vein zone hosts Minaurum's first discovery hole, AL17-007, which returned 8.25 m grading 1,760 g/t Ag or 2,086 g/t AgEq at 350 m down-dip from surface. The vein zone trends north-northeast and has been traced for nearly 2 km on surface and occurs in volcanic rocks along a normal fault contact with footwall granodiorite, dipping consistently -55 degrees to the east-southeast. Drilling has intersected it more than 400 m down dip and it remains open along strike and down dip (Figure 2).
Figure 1. Europa, Promontorio, and Promontorio Sur vein zones at the Alamos silver project.
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Europa drilling to date totals 10,651 m in 28 holes cutting the vein zone at 75- to 100-m spacings. The planned program for 2024 includes infill and step-out drilling down-dip and along strike. Highlights of prior Minaurum drilling at Europa include:
8.25 m of 1,760 g/t Ag, 1.6% Cu, 1.5% Pb, and 2.6% Zn or 2,086 g/t AgEq incl. 2.2 m of 5,098 g/t Ag, 2.76% Cu, 0.5% Pb, and 1.18% Zn or 5,477 g/t AgEq (Hole AL17-007)
3.50 m of 404 g/t Ag, 0.54% Cu, 1.30% Pb, 1.81% Zn or 572 g/t AgEq incl. 1.15 m of 999 g/t Ag, 1.29% Cu, 2.98% Pb, 2.98% Zn or 1,346 g/t AgEq (Hole AL20- 042)
3.85 m of 342 g/t Ag, 0.76% Cu, 1.03% Zn or 491 g/t AgEq incl. 0.80 m of 1,185 g/t Ag, 2.19% Cu, 1.2% Zn or 1,538 g/t AgEq (Hole AL20-054)
Figure 2. Europa vein zone, showing 2017-2021 Minaurum holes (green dots and solid black lines) and step-out holes planned for 2024 (blue dashed lines). Note that Europa is open along strike and down dip.
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Promontorio and Promontorio Sur Vein Zones
The 1 km-long Promontorio vein zone consists of the Veta Grande, Veta del 100, and Veta Las Guijas (Figure 3). The individual veins are hosted in faulted volcanics, altered limestone, and intrusive rocks. A fourth, unexploited vein lies about 100 m west of the Veta del 100 (see Minaurum news release dated February 6, 2020). Promontorio Sur is the faulted-off, down-dropped, and unexploited southern extension of the Las Guijas vein.
Although the Promontorio mine is estimated to have produced as much as 70 million ounces of silver up to the 1890s, subsequent drilling has shown that it ended in mineralization and is open at depth and along strike. At Promontorio and Promontorio Sur, Minaurum has drilled 29 holes totaling 9,258 m. In addition, Minaurum has partially rehabilitated the haulage level of the old mine workings, providing access to underground vein exposures (see Minaurum news releases dated November 15, 2022, and March 2, 2023). Drilling to date has cut high-grade mineralization up to 135 m below the Las Guijas vein as well as below the Veta Grande and Veta del 100, indicating potential for additional high-grade mineralization at depth and along strike. The 2024 program will include infill drilling to establish 75- to 100-m spacings between vein intersections, as well as step-out drilling.
Highlights of Minaurum's drilling at Promontorio include:
20.2 m of 154 g/t Ag, 0.5% Cu, 2.3% Pb, 6.8% Zn or 455 g/t AgEq (Hole AL17-004)
3.8 m of 415 g/t Ag, 2.68 g/t Au, 1.37% Cu, 6.20% Pb, 9.19% Zn or 1,309 g/t AqEq incl. 0.95 m of 1,566 g/t Ag, 6.72 g/t Au, 4.48% Cu, 9.27% Pb, 10.08% Zn or 3,282 g/t AgEq (Hole AL19-025)
7.6 m of 266 g/t Ag, 0.27 g/t Au, 0.57% Cu, 1.60% Pb, 3.17% Zn or 461 g/t AgEq, incl. 2.9 m of 636 g/t Ag, 1.36% Cu, 3.9% Pb, 7.17% Zn or 1,204 g/t AgEq (Hole 20-044)
3.1 m of 1,197 g/t Ag, 1.38% Cu or 1,334 g/t AgEq (Hole AL20-046)
3.7 m of 528 g/t Ag, 0.83% Cu, 2.43% Pb, 1.47% Zn or 761 g/t AgEq (Hole AL20-064)
1.0 m of 327 g/t Ag, 0.97 g/t Au, 0.23% Cu, 2.53% Pb and 6.62% Zn or 748 g/t AgEq (Hole AL20-069)
1.1 m of 729 g/t Ag, 1.73 g/t Au, 0.13% Cu, 3.05% Pb and 5.73% Zn or 1,186 g/t AgEq (Hole AL19-034)
Figure 3. Promontorio vein zone, showing 2017-2022 drilled holes (green dots and black traces) and proposed 2024 holes (blue dashed lines). Note that Promontorio Sur block is down-dropped with respect to the main Promontorio zone along NW-striking fault.
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Weight-averaged silver-equivalent grades are based on May 1, 2024, Kitco.com metal prices: Ag $26.90/oz, Au $2,303.00/oz, Cu $4.52/lb, Pb $1.09/lb, Zn $1.43/lb.
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Minaurum Gold Inc. (TSXV: MGG) (OTCQX: MMRGF) (FSE: 78M) is a Mexico-focused explorer concentrating on the high-grade 100% owned, production-permitted Alamos silver project in southern Sonora. Minaurum is managed by one of the strongest technical and finance teams and will continue its founders' legacy of creating shareholder value to develop and acquire a pipeline of potential Tier-One precious-metal projects. Minaurum provides significant exposure to precious and base metals.
ON BEHALF OF THE BOARD
"Darrell A. Rader"
Darrell A. Rader
President and CEO
For more information, please contact:
Sunny Pannu - Investor Relations and Corporate Development Manager
(778) 330 0994 or via email at pannu@minaurum.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
___________________________________________________________________________
1570- 200 Burrard Street
Vancouver, BC V6C 3L6
Telephone 1 778 330-0994
www.minaurum.com
info@minaurum.com
Data review and verification: Stephen R. Maynard, Vice President of Exploration of Minaurum and a Qualified Person (QP) as defined by National Instrument 43-101, reviewed and verified the assay data, and has approved the disclosure in this News Release. Verification was done by visual inspection of core samples and comparison to assay results. Assay results have not been checked by re-analysis. No factors were identified that could materially affect the accuracy or reliability of the data presented in this news release.
Analytical Procedures and Quality Assurance/Quality Control: Preparation and assaying of drilling samples from Minaurum's Alamos project are done with strict adherence to a Quality Assurance/Quality Control (QA/QC) protocol. Core samples are sawed in half and then bagged in a secure facility near the site, and then shipped by a licensed courier to ALS Minerals' preparation facility in Hermosillo, Sonora, Mexico. ALS prepares the samples, crushing them to 70% less than 2mm, splitting off 250g, and pulverizing the split to more than 85% passing 75 microns. The resulting sample pulps are prepared in Hermosillo, and then shipped to Vancouver for chemical analysis by ALS Minerals. In Vancouver, the pulps are analyzed for gold by fire assay and ICP/AES on a 50-gram charge. In addition, analyses are done for a 48-element suite using 4-acid digestion and ICP analysis. Samples with silver values greater than 100 g/t; and copper, lead, or zinc values greater than 10,000 ppm (1%) are re-analyzed using 4-acid digestion and atomic absorption spectrometry (AAS).
Quality-control (QC) samples are inserted in the sample stream every 20 samples, and thus represent 5% of the total samples. QC samples include standards, blanks, and duplicate samples. Standards are pulps that have been prepared by a third-party laboratory; they have gold, silver, and base-metal values that are established by an extensive analytical process in which several commercial labs (including ALS Minerals) participate. Standards test the calibration of the analytical equipment. Blanks are rock material known from prior sampling to contain less than 0.005 ppm gold; they test the sample preparation procedure for cross-sample contamination. In the case of duplicates, the sample interval is cut in half, and then quartered. The first quarter is the original sample, the second becomes the duplicate. Duplicate samples provide a test of the reproducibility of assays in the same drilled interval.
When final assays are received, QC sample results are inspected for deviation from accepted values by the QP. To date, QC sample analytical results have fallen in acceptable ranges on the Alamos project.
ALS Minerals is independent of Minaurum Gold and is independent of the Qualified Person.
Cautionary Note Regarding Forward Looking Information: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.
In making the forward-looking information in this release, Minaurum has applied certain factors and assumptions that are based on Minaurum's current beliefs as well as assumptions made by and information currently available to Minaurum. Although Minaurum considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information.
Readers are cautioned not to place undue reliance on forward-looking information. Minaurum does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: Minaurum Gold Inc.
Sierra Madre Commences Test Mining and Processing at Guitarra and Announces Accelerated Timeline to Commercial Production
https://www.newsfilecorp.com/release/217408
July 23, 2024 7:00 AM EDT | Source: Sierra Madre Gold & Silver
Vancouver, British Columbia--(Newsfile Corp. - July 23, 2024) - Sierra Madre Gold and Silver Ltd. (TSXV: SM) (OTCQX: SMDRF) ("Sierra Madre" or the "Company") is pleased to announce the commencement of test mining and processing at the Guitarra Mine Complex in Estado de Mexico, Mexico. The flotation plant has processed 5,698 dry tonnes (5,943 wet tonnes) of mineralized material from the Guitarra mine and is currently averaging 259 dry tonnes per day (tpd). This marks a significant milestone for the Company in the path to returning Guitarra to full commercial production of 500 tpd, which is now projected to commence in Q4 2024.
Greg Liller, Executive Chairman and COO of Sierra Madre, states, "Since acquiring Guitarra on March 30, 2023, our team has been working hard to get the mine back into commercial production. The commencement of test mining and processing is a significant step in that direction. I wish to thank Fransisco Correa, General Manager of Guitarra, Luis Saenz, Managing Director of Mexican Operations, and the Guitarra team for their outstanding work in getting us to this milestone event. The flotation plant has been in continuous 24-hour-a-day operation since the 25th of June, demonstrating the value and quality of work the Plant Operating Team did during the refurbishment program. The Mine Department began stockpiling development material on June 20th using the underground equipment our Maintenance Department rebuilt augmented by newly purchased equipment. The contributions of everyone on the Guitarra team to this milestone event have been invaluable and are deeply appreciated."
Opening day ceremonies were recently attended by the Presidents of the Municipio of Temascaltepec de Gonzales and San Simon de Gurrero, representatives of the Estado de Mexico government, elected leaders of the local communities and the Company's Board of Directors.
The Company currently has four operating Scoop trams, one low-profile haul truck and a Jumbo drill which were rebuilt by the Maintenance Department. In addition, the Company has purchased an 18-tonne dump truck for surface and underground haulage and a Stopemate long-hole drilling machine. The current test mining is using long hole and shrinkage mining techniques, with cut-and-fill operations planned to begin shortly. The current mine equipment availability is running at 88%, a clear indication of the quality and progress of the work that went into rebuilding the mining fleet.
The flotation plant has three ball mills:
a 5' x 8' mill, with a capacity of 84 tonnes per day (tpd);
an 8' x '6 mill, with a capacity of 204 tpd;
a 7' x 10' mill, with a capacity of 228 tpd.
The 5' x 8' and 8' x 6' ball mills operate and run at 94% of nameplate capacity. The 7' x 10' mill will be phased into operation as test mining progresses toward the planned 500 tpd throughput.
The mine currently employs 188 people, most from the local community. Many recently hired workers had previously worked at the mine and their return to Guitarra gives the company an experienced workforce with an in-depth knowledge of the mine.
Figure 1: Guitarra Opening Ceremonies
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Figure 2: Guitarra Opening Ceremonies
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Figure 3: Guitarra Opening Ceremonies
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Cautionary Note Regarding Production Decisions
The Company's decision to potentially place the mine into production, expand a mine, make other production related decisions or otherwise carry out mining and processing operations, is largely based on internal non-public Company data and reports from previous operations. The Company is not basing any production decisions on NI 43-101 compliant reserve estimates, preliminary economic assessments or feasibility studies and, as a result, there is greater risk and uncertainty as to future economic results from the Guitarra Mine Complex, including increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit, and a higher technical risk of failure than would be the case if a feasibility study were completed and relied upon to make a production decision.
Qualified Person
Mr. Gregory Smith, P. Geo, Director of Sierra Madre, is a Qualified Person as defined by NI 43-101, and has reviewed and approved the technical data and information contained in this news release. Mr. Smith has verified the technical and scientific data disclosed herein.
About Sierra Madre
Sierra Madre Gold and Silver Ltd. (TSXV: SM) (OTCQX: SMDRF) is a precious metals development and exploration company focused on evaluating the potential of restarting the Guitarra mine in the Temascaltepec mining district, Mexico, and the exploration and development of its Tepic property in Nayarit, Mexico. The Guitarra mine is a permitted, past-producing underground mine, which includes a 500 t/d processing facility that operated until mid-2018.
The +2,600 ha Tepic Project hosts low-sulphidation epithermal gold and silver mineralization with an existing historic resource.
Sierra Madre's management team has played key roles in managing the exploration and development of more than 22Moz gold and 600Moz silver in combined mineral reserves and mineral resources. Sierra Madre's team of professionals has collectively raised over $1 billion for mining companies.
On behalf of the board of directors of Sierra Madre Gold and Silver Ltd.,
"Alexander Langer"
Alexander Langer
President, Chief Executive Officer and Director
1-604-765-1604
Contact:
investor@sierramadregoldandsilver.com
Cautionary Note Regarding Forward-Looking Information
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-Looking statements include, without limitation, statements regarding discussions of future plans, including the Company's plan to return the Guitarra mine to full commercial production and the expected timing and production levels thereof.
The forward-looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that predicted production levels will be achieved and that existing production levels will be maintained.
In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that the Company will be able to execute its future plans as intended, that predicted production levels will be achieved and that existing production levels will be maintained.
Although management of the Company has attempted identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes.
SOURCE: Sierra Madre Gold and Silver Ltd.
SOURCE: Sierra Madre Gold & Silver
Silver Viper Completes Acquisition, Secures 100% Ownership of La Virginia Project
https://www.newswire.ca/news-releases/silver-viper-completes-acquisition-secures-100-ownership-of-la-virginia-project-857476507.html
Silver Viper Minerals Corp. Jul 22, 2024, 09:00 ET
VANCOUVER, BC, July 22, 2024 /CNW/ - Silver Viper Minerals Corp. (the "Company" or "Silver Viper") (TSXV: VIPR) (OTC: VIPRF) announces that further to its press release April 6, 2023 and October 20, 2023, it has completed the terms of the amended Rubi-Esperanza Option Agreement (the "Agreement") with respect to its right to purchase 100% ownership of three mineral concessions covering 2,102 hectares at the La Virginia Gold-Silver Project ("La Virginia" or the "La Virginia Project"), located in the Sierra Madre of eastern Sonora State, Mexico.
"Silver Viper is thrilled to announce that we now fully own the entire La Virginia Project," said Steve Cope, CEO of Silver Viper Minerals Corp. "Completing the terms of the Rubi-Esperanza Option Agreement and acquiring 100% ownership of these key mineral concessions marks a significant milestone for our company. This achievement not only enhances our position in Mexico, but also strengthens our commitment to advancing the La Virginia Gold-Silver Project. We are excited about the potential this project holds and look forward to the next phase of exploration and development."
The Company made the final payment of US$775,000 (or C$1,042,142.50, based on a fixed exchange rate of US$-C$ of 1.3447 set out in the amendment) of Shares issuable by the Company to satisfy the final payment under the Agreement in June 2024. Per the Amendment, the Company must issue no more than 10,969,921 at a deemed price per share of C$0.095. The Company confirms it issued the vendors an aggregate of 10,969,921 Shares on June 27, 2024. The Company also made the final cash payment of US$200,000 to the vendors.
All Shares issued in connection with the Agreement are subject to a statutory 4-month hold period from their respective date of issue. In addition, for a one-year period following the expiry of the applicable statutory hold period, the vendors may not sell such Shares and then may only do so after providing at least 2 weeks' notice to the Company of their intension to sell any such Shares.
The vendors are at arm's length to the Company and its Affiliates or Associates (as such terms are defined in the TSXV Corporate Financial Manual).
About the Project
La Virginia is located 220 kilometres east-northeast of Hermosillo, Sonora and is prospective for low-sulphidation epithermal precious metal mineralization. The property and historical exploration database were acquired by way of option agreements made with two distinct parties. Gold and silver mineralization at La Virginia occurs within breccias, veins and stockworks, hosted primarily by andesitic volcanics, often in close spatial association to, or cross-cutting pre-mineral dacite dykes and controlled by fractures and faults that define the regional structural trend. Silver Viper's reconnaissance program identified key targets and trends which are of primary interest and subsequently filed strategic reductions in claims to attain the current project surface area of 6,882 hectares.
Silver Viper has completed a total of 141 drill holes at La Virginia for a combined 44,687 metres. Exploration drilling has paused awaiting the processing of the geophysical survey data along with the interpretation of mapping and sampling data. Drilling has been completed by Hermosillo-based drill contractor, Globexplore Drilling Corp. Drilling by the Company to date builds upon a sizeable database of recent historical work.
About the Company
Silver Viper Minerals Corp. is a Canadian-based junior mineral exploration company focused on precious metals exploration in the northwestern Mexican state of Sonora. The Company is operator and 100% owner of the La Virginia Gold-Silver Project. Silver Viper is under management provided by the Belcarra Group, which is comprised of highly qualified mining professionals.
ON BEHALF OF THE BOARD OF DIRECTORS,
Steve Cope
President and CEO
Forward Looking Information
Information set forth in this press release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to exploration and development, the ability of the Company to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in the prices of commodities, operating hazards and risks, competition and other risks and uncertainties, including those described in the Company's financial statements available on www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE Silver Viper Minerals Corp.
For Further Information, please contact Silver Viper Minerals Corp. at 604-687-8566, email info@silverviperminerals.com or visit our website at www.silverviperminerals.com.
Starcore/ Xali Gold Enters Agreement for Mining in Historic Underground Workings, Exploration and Reducing Debt at El Oro Mexico
https://ca.finance.yahoo.com/news/xali-gold-enters-agreement-mining-110000482.html
Xali Gold Corp.
Mon, July 22, 2024 at 4:00 a.m. PDT·5 min read
CGDXF
0.00%
VANCOUVER, British Columbia, July 22, 2024 (GLOBE NEWSWIRE) -- Xali Gold Corp. (TSXV:XGC) ("Xali Gold” or “the Company”) is very pleased to announce it has signed a legally binding Letter of Intent (“LOI”) with Rio Verde Resources (“Rio Verde”) on portions of five mining concessions within the El Oro Mining District (“El Oro 5 Concessions”) in the State of Mexico and Michoacán de Ocampo, Mexico.
Rio Verde has been granted the exclusive right to explore and extract gold, silver and any other economic minerals that may be found above the 2400 metre (“m”) level in the historic workings covered by the El Oro 5 Concessions in exchange for payment of a 3% Net Smelter Return (“NSR”) to Xali Gold. The initial agreement has a term of 5 years which may be extended for an additional 5 years providing Xali Gold is receiving benefits totalling $1 Million (“M”) per year. Xali Gold retains the exclusive ownership of all mineral bodies discovered or delineated below the 2400 m level.
“There couldn’t be a better time, since we acquired the property in 2006 and gold prices were much lower than the current $2400 per ounce, to be monetizing the mineralization left behind in the historic workings and to be exploring for new mineral bodies,” states Joanne Freeze, President and CEO of Xali Gold. “Rio Verde is well known for their ability to get into production in record time, to make good profits and to discover mineral deposits. This new partnership will allow us to keep all the exploration upside we have demonstrated by our previous drilling underneath the historic workings, while we work together with Rio Verde to test exploration concepts and get underground access for future drilling as well as pay back our debts on the mineral rights.”
Keith Piggott of Rio Verde has advised us that their production will initially focus on the exploration target identified by Luismin-Hillsborough in 1993. Luismin-Hillsborough estimated there to be a potential for 762,000 ounces (“ozs”) gold (“Au”) and 9.8M ozs silver (“Ag”) (6.89M tonnes grading 3.44 g/t Au and 44 g/t Ag) in the historic workings after studying 2,600, 2 m interval mine level plans with grades, sections and production documentation as well as 8 new drill holes. The mineralization is understood to have been left behind in in-situ vein, pillars and back-fill as it had grades below historical cut-off of 8 g/t Au.
The LOI shall initially pertain to only the 5 mining concessions of El Carmen, El Oro VII, Dos Estrellas 77 Fracc.1, Dos Estrellas 77 and Dos Estrellas 77 Fracc. II. Rio Verde shall maintain the concessions in good standing during this period, by paying the semi-annual concession fees, by incurring the minimum investments and the corresponding filings with the Mexican Mines Bureau, by making the filings of statistical reports and by paying the Governmental Royalties.
In addition to the 3% NSR payments, Rio Verde has agreed to provide funding to pay concession fees owing, initially on the 5 Concessions they plan to mine. Rio Verde and Xali Gold will collaborate to negotiate a payment plan with the Mexican Tax Authority for mineral rights fees owed over the last 5 years (all fees owing prior to that are no longer due).
Funds provided for concession fees will be provided as participation in a Private Placement in Xali Gold under the following terms: A Unit comprising one share and one-half warrant will be priced at CAD$0.05. A full warrant will be exercisable at CAD$0.10 per share for two years. Xali Gold will grant Rio Verde the right to participate in future Private Placements, terms of which will be in the context of the market at the time when the funds are provided. Such funds are expected to come from income generated from operations on the five concessions and will be used to assist Xali Gold in paying off the remaining fees due on the rest of the El Oro Property.
Rio Verde has also been granted the right to appoint an additional member to the Board of Xali Gold and to the position of Chair of the Board, when Rio Verde holds greater than 20% of the outstanding shares in the Company, provided that person is deemed qualified by the current Board of Xali Gold.
About Rio Verde Resources
Rio Verde is a private company controlled and managed by Keith Piggott, the former President and CEO of Goldgroup Mining Inc. and Core Gold Inc. Mr. Piggott is a mining engineer with over 50 years of experience in Zambia, Australia and PNG, Mexico and South America. In the recent past, as well as significant exploration success, he has started 3 mines: Cerro Colorado, El Boludo and Cerro Prieto in Sonora, Mexico plus a green-fields start in a record time of 3 months in Ecuador. These mines have collectively produced approximately 500,000 ozs of gold to date.
About Xali Gold
Xali Gold has gold and silver projects in Peru and Mexico. The Company’s flagship project El Oro is a district scale gold project encompassing a well-known prolific high-grade gold dominant gold-silver epithermal vein system in Mexico. The project covers 20 veins with past production and more than 57 veins in total, from which approximately 6.4M ozs of gold and 74M ozs of silver were reported to have been produced from just two of these veins (Ref. Mexico Geological Service Bulletin Nr. 37, Mining of the El Oro and Tlapujahua Districts. 1920, T. Flores).
Modern understanding of epithermal vein systems indicates that several of the El Oro district’s veins hold excellent discovery potential, particularly below and adjacent to the historic workings of the San Rafael Vein, which was mined to an average depth of only 200m.
Xali Gold is dedicated to being a responsible Community partner.
Joanne C. Freeze, P.Geo., President and CEO is the Qualified Person as defined by National Instrument 43-101 for the projects discussed above. Ms. Freeze has reviewed and approved the contents of this release. Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Information
This news release may contain forward-looking information (as such term is defined under Canadian securities laws) including but not limited to historical production records. While such forward-looking information is expressed by Xali Gold in good faith and believed by Xali Gold to have a reasonable basis, they may address future events and conditions and are therefore subject to inherent risks and uncertainties including those set out in Xali Gold’s MD&A. Factors that cause the actual results to differ materially from those in forward-looking information include, without limitation, gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, potential environmental issues, availability of capital and financing and general economic, market or business conditions. Xali Gold expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
On behalf of the Board of Xali Gold Corp.
“Joanne Freeze” P.Geo.
President, CEO and Director
For further information please contact:
Joanne Freeze, President & CEO
Tel: + 1 (604) 689-1957
info@xaligold.com
Sierra Metals Completes the Sale of the Cusi Mine
https://ca.finance.yahoo.com/news/sierra-metals-completes-sale-cusi-110000704.html
Business Wire
Fri, July 19, 2024 at 4:00 a.m. PDT·4 min read
SMTSF
-3.60%
TORONTO, July 19, 2024--(BUSINESS WIRE)--Sierra Metals Inc. (TSX:SMT | OTCQX:SMTSF | BVL: SMT) ("Sierra Metals" or the "Company") is pleased to announce, further to the May 22, 2024 news release, the completion of the sale of the Cusi Mine and surrounding mineral concessions located in Mexico (collectively, the "Cusi Mine") to Minera San Bernabé, S.A. de C.V., a subsidiary of Silverco Mining Corp. ("SMC").
The Company sold the Cusi Mine for US$2.5 million in cash and a 2.0% net smelter royalty in respect of the Cusi Mine granted in favour of Sierra Metals (the "Royalty")1. SMC has the right to purchase one-half of the Royalty at any time in exchange for a cash payment to Sierra Metals of US$5.0 million.
The sale of Cusi Mine will allow the Company to direct its full efforts and resources to grow its two core assets, the Yauricocha polymetallic mine in Peru and the copper-producing Bolivar mine in Mexico.
About Sierra Metals
Sierra Metals is a Canadian mining company focused on copper production with additional base and precious metals by-product credits at its Yauricocha Mine in Peru and Bolivar Mine in Mexico. The Company is intent on safely increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company has large land packages at each of its mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.
Forward-Looking Statements
This press release contains forward-looking information within the meaning of Canadian securities legislation. Forward-looking information relates to future events or the anticipated performance of Sierra and reflect management's expectations or beliefs regarding such future events and anticipated performance based on an assumed set of economic conditions and courses of action. In certain cases, statements that contain forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will allow", "occur" or "be achieved" or the negative of these words or comparable terminology. By its very nature forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual performance of Sierra to be materially different from any anticipated performance expressed or implied by such forward-looking information.
Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading "Risk Factors" in the Company's annual information form dated March 15, 2024 for its fiscal year ended December 31, 2023 and other risks identified in the Company's filings with Canadian securities regulators, which are available at www.sedarplus.ca.
The risk factors referred to above are not an exhaustive list of the factors that may affect any of the Company's forward-looking information. Forward-looking information includes statements about the future and is inherently uncertain, and the Company's actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company's statements containing forward-looking information are based on the beliefs, expectations, and opinions of management on the date the statements are made, and the Company does not assume any obligation to update such forward-looking information if circumstances or management's beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.
1 The Royalty was reduced to 0.5% in respect of two (2) surrounding mineral concessions comprising part of the Cusi Mine which the Company believes are not material.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240719218730/en/
Contacts
For further information regarding Sierra Metals, please visit www.sierrametal.com or contact:
Investor Relations
Sierra Metals Inc.
+1 (866) 721-7437
info@sierrametals.com
Asia Broadband Surpases Double Gold Production In 1?? Quarter, Prior To Ore Stockpile Processing Plant Completion
https://ca.finance.yahoo.com/news/asia-broadband-surpases-double-gold-120000878.html
Asia Broadband Inc.
Wed, July 17, 2024 at 5:00 a.m. PDT·3 min read
AABB
+0.54%
LAS VEGAS, July 17, 2024 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the financial results for the 2nd quarter ending June 30, 2024, will be published in the coming weeks confirming the Company has exceeded its production and gross profit levels achieved in the 1st quarter. Gold production more than doubled in the 1st quarter of 2024, in comparison to the 4th quarter of 2023, due to the higher grade recoveries and increased daily throughput levels. Additionally, the economies of scale from higher productions levels reduced production costs and added to the bottom-line gross profit for each of the last two quarters.
The elevated operational strategies and efficiencies of the AABB mining team continued in the 2nd quarter to set the foundation for the high production levels to follow the completion of the Company’s processing plant. The new facility is currently under construction in Etzatlan, Mexico, and its capacity will be primarily dedicated to processing the estimated $1 billion dollar ore value of the Company’s exclusive rights surface stockpile. AABB continues to develop the processing plant and will release updates as progress milestones are reached.
“Our operations team has elevated our production processes in the first and second quarters of this year and we are eagerly awaiting to extend this expertise to our massive ore stockpile processing when the new plant is complete. This will take us to a much higher level than we have ever reached before”, stated Chris Torres, the Company President and CEO.
AABB continues to implement its mining property acquisition strategy to optimize development capital utilization by focusing operations in regions of Mexico where AABB has a comparative advantage of development resources and expertise readily available for rapid expansion and duplication of the Company’s previous gold production success.
About Asia Broadband
Asia Broadband Inc. (OTC: AABB) is a resource company focused on the production of precious metals and the accumulation of physical gold holdings. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate the expansion of precious metals property holdings and production in Mexico. The Company's industry and business integration in Mexico and its asset diversification are unique strengths of AABB that differentiate it from other companies and creates distinctive value for shareholders. Additionally, the Company has a digital assets business segment with its AABBG mine-to-token gold-backed cryptocurrency within its own proprietary AABB Wallet and the unique Golden Baboons Mining Club and Shorts Rascal Club Non-Fungible Token (NFT) collections. AABB expects its token to become a world-wide standard of exchange that is stable, secured and trusted with gold backing, while having the added benefit of demand based price appreciation. These are unique and outstanding qualities relative to other cryptocurrencies and digital asset developers.
Contact the Company at:
General Email:
ir@asiabroadbandinc.com
Token Support:
support@aabbgmine2token.com
Company Websites:
www.asiabroadbandinc.com
www.aabbgmine2token.com
www.goldenbaboons.com
Phone:
702-866-9054
Forward-Looking Statements are contained in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Asia Broadband Inc.’s (the “Company”) expected current beliefs about the Company’s business, which are subject to uncertainty and change. The operations and results of the Company could materially differ from what is expressed or implied by the statements made above when industry, regulatory, market and competitive circumstances change. Further information about these risks can be found in the annual and quarterly disclosures the Company has published on the OTC Markets website. The Company is under no obligation to update or alter its forward-looking statements as future circumstances, events and information may change.
Bear Creek Mining Announces Q2 2024 Mercedes Production of 9,304 Ounces of Gold; Machine Learning Assisted Exploration Program Commenced
https://www.newsfilecorp.com/release/217040
July 19, 2024 7:00 AM EDT | Source: Bear Creek Mining Corporation
Vancouver, British Columbia--(Newsfile Corp. - July 19, 2024) - Bear Creek Mining Corporation (TSXV: BCM) (OTCQX: BCEKF) (BVL: BCM)
Minera Alamos Provides Santana Operations Update
Nicho Main Zone Expanding Mining Operations
https://www.newsfilecorp.com/release/216978
July 18, 2024 7:00 AM EDT | Source: Minera Alamos Inc.
Toronto, Ontario--(Newsfile Corp. - July 18, 2024) - Minera Alamos Inc. (TSXV: MAI) (the "Company" or "Minera Alamos") is pleased to provide a brief operations update for its Santana gold mine in Sonora, Mexico.
Key Developments
Mining and stacking operations commenced last month with approximately 900 ounces of newly mined gold stacked on the leach pad (through the end of June) during the initiation of mining operations at the new Nicho Main zone deposit. Access to the Nicho Main gold mineralization in the pit is steadily improving with the opening up and extraction of the first few benches. The Company plans to ultimately have access to two simultaneous working areas that, in addition to providing better traffic flow for the mobile equipment, will allow for more efficient planning for grade control and waste stripping management. Presently, estimates for the next month of mining and stacking operations are 1,300-1,500 ounces of gold placed on the heap leach pad which is approaching the lower end of the initial monthly mining rates included in the Nicho Main zone start-up plans. With mine access improving, plans are to activate two additional trucks in July which expands the mobile fleet size to the anticipated normal levels for the current mine plan.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4183/216978_2eb9f6d3b4cd7a80_002full.jpg
Gold grades averaged approximately 0.9 g/t through the end of June and following July production data there should be an update on grade reconciliation for the first months of full operations at Nicho.
The more brittle nature andesite host rocks that comprise the bulk of the gold mineralization at the Nicho Main Zone combined with extensive weathering of the near surface material has resulted in the production of finer mined material than was experienced during the previous activities at the Nicho Norte area. Consequently, additional optimization work is underway in the new open pit to reduce the quantity of explosives used in the mine blasting operations. Combined with changes in the site crushing arrangements, these initiatives should result in more optimal operating (leaching) conditions that will continue to be monitored and adjusted as mining activities progress deeper into the resource. The Company is also looking at other possible improvements including the mobilization of the agglomeration system it had previously acquired in 2020 so that more operating flexibility is available as new areas of mineralization are brought into the overall Nicho mine plan. The remaining parts of the crushing system acquired in that transaction are destined for the Cerro de Oro operation when that project is built.
"The commencement of mining operations at the new Nicho Main Zone pit has begun reasonably within expectations, especially given there are always aspects of opening a new mining zone to be learned from and optimized. Importantly, the new mining plan provides a significant improvement in gold stacking activities at the Phase 1 leach pad. This positive shift in mine operations, as gold prices strengthen considerably, should provide a strong foundation for operations to return to being cash generative as the year continues," stated Doug Ramshaw, President of Minera Alamos. "The operating team in Mexico is delivering on our previously announced plans and as the main pit continues to open up the benefits of Santana returning to a steady state of operation should be comforting to shareholder and all our stakeholders on a go forward basis. I'd like to take this opportunity to thank our team on the ground and Trigusa, our mining contractor, in these early months of renewed operations at Santana."
Photo 1 - May 5th, 2024 - Early blasting of the top of the Nicho Main zone ridge
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4183/216978_2eb9f6d3b4cd7a80_003full.jpg
Photo 2 - May 13th, 2024 - Blasting set up for establishment of future bench development
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4183/216978_2eb9f6d3b4cd7a80_004full.jpg
Photo 3 - June 20th, 2024 - Pit opening up with better access for the mining fleet
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4183/216978_2eb9f6d3b4cd7a80_005full.jpg
Cautionary Statement
The Company made its production decision at the Santana gold mine without having completed a feasibility study demonstrating economic and technical viability. As such, there may be increased uncertainty of achieving planned production levels, estimated recovery of gold, the costs associated with such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure.
Mr. Darren Koningen, P. Eng., Minera Alamos' CEO, is the Qualified Person responsible for the technical content of this press release under National Instrument 43-101.
For Further Information Please Contact:
Minera Alamos Inc.
Doug Ramshaw, President
Tel: 604-600-4423
Email: dramshaw@mineraalamos.com
Victoria Vargas de Szarzynski, VP Investor Relations
Tel: 289-242-3599
Email: vvargas@mineraalamos.com
Website: www.mineraalamos.com
About Minera Alamos Inc.
Minera Alamos is a gold production and development Company. The Company has a portfolio of high-quality Mexican assets, including the 100%-owned Santana open-pit, heap-leach mine in Sonora that is currently going through the start-up of operations at the new Nicho Main deposit. The 100%-owned Cerro de Oro oxide gold project in northern Zacatecas has considerable past drilling and metallurgical work completed and the proposed mining project is currently being guided through the permitting process by the Company's permitting consultants. The La Fortuna open pit gold project in Durango (100%-owned) has a positive, robust preliminary economic assessment (PEA) completed, and the main Federal permits are in place. Minera Alamos is built around its operating team that together brought three open pit heap leach gold mines into successful production in Mexico over the last 13 years.
The Company's strategy is to develop very low capex assets while expanding the projects' resources and continuing to pursue complementary strategic acquisitions.
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking information and Minera Alamos cautions readers that forward-looking information is based on certain assumptions and risk factors that could cause actual results to differ materially from the expectations of Minera Alamos included in this news release. This news release includes certain "forward-looking statements", which often, but not always, can be identified by the use of words such as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". These statements are based on information currently available to Minera Alamos and Minera Alamos provides no assurance that actual results will meet management's expectations. Forward-looking statements include timing, cost estimates and statements with respect to Minera Alamos' future plans, objectives and goals with respect to the Cerro de Oro gold mine including the receipt of permits and construction timeline, and the satisfaction by the Company of the closing conditions to draw the Remaining Amount. Since forward-looking statements are based on assumptions and address future events and conditions that, by their very nature involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, the economics of processing methods, project development, reclamation and capital costs of Minera Alamos' mineral properties, the ability to complete a preliminary economic assessment which supports the technical and economic viability of mineral production could differ materially from those currently anticipated in such statements for many reasons. Minera Alamos' financial condition and prospects could differ materially from those currently anticipated in such statements for many reasons such as: an inability to finance and/or complete an updated resource and reserve estimate and a preliminary economic assessment which supports the technical and economic viability of mineral production; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Minera Alamos' activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Minera Alamos' forward-looking statements. These and other factors should be considered carefully, and readers should not place undue reliance on Minera Alamos' forward-looking statements. Minera Alamos does not undertake to update any forward-looking statement that may be made from time to time by Minera Alamos or on its behalf, except in accordance with applicable securities laws.
The Company does not have a feasibility study of mineral reserves, demonstrating economic and technical viability for the Santana project, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE: Minera Alamos Inc.
First Majestic Produces 5.3 Million AgEq Oz in Q2 2024 Consisting of 2.1 Million Silver Ounces and 39,339 Gold Ounces; Announces Updated 2024 Production and Cost Guidance and Conference Call Details
https://www.newsfilecorp.com/release/216951
July 18, 2024 7:00 AM EDT | Source: First Majestic Silver Corp.
Vancouver, British Columbia--(Newsfile Corp. - July 18, 2024) - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV)
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