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Asia Broadband Confirms Mining Title Registry Update for the La Paz Gold Mine Project in Etzatlan, Mexico, As Drilling Program Continues
https://ca.finance.yahoo.com/news/asia-broadband-confirms-mining-title-130000353.html
Asia Broadband Inc.
Wed, February 14, 2024 at 5:00 a.m. PST·3 min read
AABB
-1.47%
OTCM
0.00%
LAS VEGAS, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company has confirmed the property title concession registration in the Mexican Mining Registry for its 100% owned La Paz Gold Mine Project concession 236301, located in Etzatlan, Jalisco, Mexico. In previous months, an administrative processing backlog at the Registry delayed the ownership update for a considerable time. However, along with the title update, AABB recently continued its development and drilling program at the La Paz property after pausing the work program in the fall of 2023 to redeploy needed equipment to the Company’s Bonanza property project. Further details of the La Paz drill program are expected to be released soon as they become available.
To view the La Paz Project mining registration PDF, input Title Number 236301 at:
https://tarjetarpm.economia.gob.mx/tarjeta.mineria/
“It’s very gratifying to see the title finally showing in the Mexican Mining registry after a lengthy update delay. Additionally, our mining team is thrilled with the significant development progress and upside potential of the La Paz property as we continue the drilling program. The La Paz project is a key strategic asset in the Company’s mining property portfolio that will facilitate the growth of our operations and profitability going forward,” stated Chris Torres, AABB President and CEO.
AABB continues to implement its mining property expansion 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, supply and sale of precious and base metals, primarily to Asian markets. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate its innovative distribution process from the production and supply of precious and base metals in Mexico to client sales networks in Asia. This vertical integration approach to sales transactions is the unique strength of AABB that differentiates the Company and creates distinctive value for shareholders. Additionally, the Company has added a digital assets business segment with its AABBG mine-to-token gold-backed cryptocurrency within its AABB Wallet, the unique Golden Baboons Mining Club non-fungible token collection and a cryptocurrency payment gateway solution PayAABB.com. 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.
Contact the Company at:
General Email:
Token Support:
Company Websites:
Phone:
ir@asiabroadbandinc.com
support@aabbgmine2token.com
www.asiabroadbandinc.com
www.aabbgmine2token.com
www.goldenbaboons.com
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.
Avino Provides Outlook for 2024 and Highlights Its Major 2023 Milestones
https://www.accesswire.com/833153/avino-provides-outlook-for-2024-and-highlights-its-major-2023-milestones
Tuesday, 13 February 2024 06:45
VANCOUVER, BC / ACCESSWIRE / February 13, 2024 / Avino Silver & Gold Mines Ltd. (TSX:ASM)(NYSE American:ASM)(FSE:GV6)
Endeavour Silver Provides Q4 2023 Construction Progress Update On the Terronera Mine
https://ca.finance.yahoo.com/news/endeavour-silver-provides-q4-2023-220000313.html
Endeavour Silver Corporation
Mon, February 12, 2024 at 2:00 p.m. PST·7 min read
EXK
-4.49%
VANCOUVER, British Columbia, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) provides a Q4 2023 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 has made significant construction progress to date. Concrete work is well advanced, and erection of structural steel for the grinding and flotation areas has started. In early 2024, the Company provided an Updated Initial Capital Cost (“2024 Updated Scenario”), which increased the project budget by $41 million to $271 million. This increase was primarily due to a stronger Mexican Peso, ongoing inflation and availability of bulk materials such as steel, piping and electrical supplies (see news release dated January 24, 2024). As of December 31, 2023, approximately $1201 million had been invested in direct project expenditures, with project commitments totaling $1711, 2 million or 63% of the updated budget. With an experienced and seasoned team leading the project, the Company anticipates the schedule will remain in line with previous guidance, with initial production anticipated to start in the fourth quarter of 2024.
“Throughout 2023, we’ve achieved several major milestones across multiple fronts,” commented Don Gray, Chief Operating Officer. “We’ve concentrated our efforts on completing key items including earthworks for our Upper Mill Platform, procurement of equipment, and advances in plant concrete. Our underground mine development continues to advance rapidly as we look to start ore development sometime in Q2 2024. We’re extremely satisfied with Terronera’s progress thus far and remain committed to successfully completing and operating Endeavour’s next core asset.
Q4 2023 Construction and Development Highlights
As of December 31, 2023, site works and activities included:
Safety – Our strong onsite safety focus continues: The Project finished 2023 with 172 days totaling over 600,000 manhours with no lost-time accidents.
Progress – Overall project progress reached 43% completion including a 3% reduction due to the adjusted weighting related to the 2024 Updated Scenario. The project remains on track for commissioning in Q4 2024.
Engineering – Detail engineering for the mill and infrastructure began transitioning to construction support towards the end of 2023. Excavation designs for the Lower Platform and detail design for Tailing Storage Facility (“TSF”) have been advanced using supplemental geotechnical investigation results obtained in Q4 2023.
Mine Development – Over 2,200 metres of underground development were completed in 2023. The in-house mining team has been successfully transitioning from using contracted to direct-hire labor with greater development efficiencies. Development was focused on Portal 1, 2 and 4 declines for accessing ore and setting up the main ventilation circuit and haulage way; the Portal 4 incline broke through to surface and preparations are underway to complete the portal structure in Q1 2024.
Plant Site – Surface mill and infrastructure construction is now almost 50% complete; concrete works were well advanced to allow the start of vertical construction in early Q1 2024. The electromechanical contract was awarded and mobilization commenced.
Primary Crusher – Concrete has been completed for the jaw crusher foundation and the perimeter walls, including backfill and compaction.
Course Ore Stockpile and Reclaim Tunnel – The Coarse Ore Stockpile support walls have been completed along with the roof including the feeder chute imbeds. For the reclaim tunnel, concrete has been completed for two major roof sections with two sections remaining.
Grinding – The concrete of the grinding area is nearly complete and being prepared for release to the general contractor to begin structural steel and mechanical installations.
Flotation – The concrete of the flotation cell pedestals is nearly complete and being prepared for release to the general contractor to begin structural steel and mechanical installations.
Thickener – The thickener tank support pedestals were completed and was backfill initiated. Concrete work has been started for the raw water, process water, thickener surge, and concentrate storage tank pedestals and foundations.
Lower Facilities Platform and TSF – Access road construction has commenced from the Lower Platform and TSF area to the Upper Mill Platform.
Procurement – Focused on procuring bulk materials, including structural steel, piping, and electrical cable following a comprehensive scheduling for delivery that tracks construction requirements.
Onsite Personnel – The workforce had increased to 126 employees and 400 contractor workers.
Community Relations – Supporting the local municipality has continued to be a major focus with sponsoring cultural and community activities in the area.
Environmental – Environmental and social assessment initiatives continue according to schedule as outlined under the Equator Principal requirements for project loan financing.
2024 Outlook and Planning
Endeavour remains focused on advancing the Terronera Project for initial production in Q4 2024, with a comprehensive schedule and plan under the 2024 Updated Scenario.
For Q1 2024, surface construction will focus on completing concrete work to allow structural steel erection, mechanical installations and initial electrical work for the crushing, coarse-ore stockpile, grinding, flotation and tailing thickener areas. Early in Q2, excavation is anticipated to be complete for the Lower Platform, which includes facilities such as the LNG and power generation areas and the concentrate and tailing filtration areas. For Q2 and Q3, work is planned for all mill and infrastructure areas with mechanical completion and commissioning activities planned in Q4.
For the mine, development in Portal 1, 2 and 4 declines will continue with first ore development anticipated in Q2. Initial long-hole mining is planned for Q3 and cut-and-fill mining is planned with ore being stockpiled for mill ramp up. Development activities at La Luz are expected to begin in Q3 with portal construction and ramp advance to ore access anticipated in Q4. The critical path remains the TSF construction and advancing underground mine, where development efficiencies have been steadily increasing.
The Company is well-positioned to satisfy the Terronera project financing requirements and expects the first draw under the $120 million project loan debt facility in Q1 2024.
Dedicated Project Website
The Company has launched a dedicated project website, accessible at www.terronera.com, serving as a virtual hub for the local community, key stakeholders, and other interested parties to stay informed and engaged with the ongoing progress of the Terronera Project. The Company invites all stakeholders to explore the latest updates, learn about our commitment to environmental stewardship and discover the positive impacts this venture will bring to local communities.
About the Terronera Project
The Terronera project is a high-grade silver-gold project being developed in the San Sebastian mining district in Jalisco state, Mexico. It is located within the Sierra Madre volcanic belt, which hosts most of Mexico’s gold and silver deposits. It is a low-sulphidation epithermal vein system that will be mined using a combination of long hole and cut and fill techniques. The underground mine consists of two deposits, Terronera and La Luz, which will feed a centralized 2,000 tonne per day process plant. Based on the Feasibility Study, Terronera is expected to produce 4 million ounces of silver and 38,000 ounces of gold annually over its 10-year life.
For more information about the project and details of the Feasibility Study, the technical report is entitled “NI 43-101 Technical Report on the Feasibility Study of the Terronera Project, Jalisco State, Mexico” dated October 21, 2021, with an effective date of September 9, 2021, and it is available on the company website or under the Company’s name on SEDAR at www.sedar.com.
About Endeavour Silver – Endeavour is a mid-tier precious metals mining company that operates two high-grade underground silver-gold mines in Mexico. Endeavour is advancing construction of the Terronera Project and exploring its portfolio of exploration projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders.
Contact Information
Galina Meleger, VP, Investor Relations
Email: gmeleger@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 audited figures will be released with the 2023 financial statements on March 11, 2024.
Project commitments are inclusive of 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 the meaning of 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, anticipated timing of the project construction; anticipated timing of drawdown under the project loan debt facility, 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 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 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 U.S.A 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 U.S. 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 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 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 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.
VIZSLA SILVER REPORTS ADDITIONAL HIGH-GRADE INTERCEPTS AT LA LUISA
https://www.newswire.ca/news-releases/vizsla-silver-reports-additional-high-grade-intercepts-at-la-luisa-859374523.html
Vizsla Silver Corp. Feb 13, 2024, 08:00 ET
NYSE: VZLA TSX-V: VZLA
Chesapeake Announces Preliminary Metallurgical Test Results Demonstrating up to 97% Gold Recoveries at Lucy Project
https://www.newsfilecorp.com/release/197682
February 13, 2024 6:00 AM EST | Source: Chesapeake Gold Corp.
Vancouver, British Columbia--(Newsfile Corp. - February 13, 2024) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF)
Luca Mining Announces Final Commissioning Phase at the Tahuehueto Gold Mine, and the Appointment of New Director
https://www.newswire.ca/news-releases/luca-mining-announces-final-commissioning-phase-at-the-tahuehueto-gold-mine-and-the-appointment-of-new-director-842431917.html
Luca Mining Corp. Feb 08, 2024, 07:00 ET
VANCOUVER, BC, Feb. 8, 2024 /CNW/ - Luca Mining Corp. ("Luca" or the "Company") (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) is pleased to provide an update on progress at its wholly-owned Tahuehueto Gold Mine in Durango, Mexico, and announces the addition of Mr. Peter Damouni to the Company's Board of Directors.
The project to increase throughput at the Tahuehueto mill to 1,000 tonnes per day is in the final commissioning stage. Testing of the second ball mill, which was the last component in the project, is well advanced and will provide a total installed grinding capacity of 1,250 tonnes per day ("tpd").
The Luca Board welcomes Peter Damouni as a new Director. Peter brings considerable market, finance and corporate experience and will open new opportunities for Luca.
Tahuehueto Gold Mine, Durango State, Mexico
Testing of the final equipment to complete construction of the 1,000 tpd operation is almost complete. In the crushing circuit, a new vibrating screen is also currently being installed, to further improve crusher system availability.
Final alignment and testing of the second 750 tpd ball mill will complete mid-February, providing an installed grinding capacity of 1,250 tpd. With routine planned maintenance downtime each month, this will ensure an actual production rate of 1,000 tpd. The other key element of this project was the second tailings press filter, which is already in operation and working in parallel with the first press filter. As a result, daily production is increasing. With the second mill commissioned, production will then progressively ramp-up to 35,000-40,000 oz gold equivalent per year.
Mike Struthers, CEO, commented, "Our team at Tahuehueto continues to push hard to commission the 1,000 tpd project at the mine. Once the second mill is commissioned, the installed grinding capacity of 1,250 tpd will provide valuable flexibility. These are very exciting times for Luca and its shareholders. The next few months will feature the achievement of a number of significant milestones that shareholders have been looking forward to since we completed our major financing and reorganization mid 2023. In particular, Luca will bring a brand-new gold mine into commercial production and with the mine optimization plan being implemented at Campo Morado we have already experienced significant cash flow improvements, which we intend to publicize on a regular basis."
New Director
The Luca Board is very pleased to welcome Mr. Peter Damouni to the Luca team. Mr Damouni has over 20 years of corporate and investment banking experience with a focus on the natural resource sector. He has served as an executive and director of a number of public companies listed on the TSX, TSXV, and LSE. During his career, he has been instrumental in developing and executing corporate strategies including equity and debt financings, restructurings, joint ventures, acquisitions and sale processes.
Mike Struthers, CEO, stated; "Having worked closely with Peter in the past, I'm very pleased to have Peter join the Luca team. He brings considerable markets, finance and corporate experience which will open new opportunities for Luca as we continue to realise our goals for 2024 and beyond."
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. 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, a prolific 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 Tahuehueto Gold Mine is a new underground operation in Durango State, Mexico, within the Sierra Madre Mineral Belt which hosts numerous producing and historic mines along its trend. The Company is commissioning its mill capacity to +1,000 tonnes per day, and key testwork and throughput expansion is underway, to increase production by 2H 2024.
The Company expects its operations to start generating positive cash flows in 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) "Mike Struthers"
Mike Struthers, CEO and Director
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).
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, sshane@lucamining.com or Glen Sandwell, Corporate Communications Manager, ir @chas7
Sierra Madre Provides Update on La Guitarra Progress
https://www.accesswire.com/832040/sierra-madre-provides-update-on-la-guitarra-progress
Thursday, 08 February 2024 07:00
VANCOUVER, BC / ACCESSWIRE / February 8, 2024 / Sierra Madre Gold and Silver Ltd. (TSXV:SM)(OTCQX:SMDRF) ("Sierra Madre" or the "Company") is pleased to provide an in-depth update of its activities at the 100% owned past-producing La Guitarra Silver-Gold Mine Complex in Estado de Mexico, Mexico, 130 km southwest of Mexico City.
Mine Restart Study
The Company has retained TechSer Mining Consultants Ltd., of Vancouver, B.C., to complete the Mine Restart Study ("MRS"). This work will include an estimation of underground mine material for the Guitarra, Coloso and Nazareno mines and the Los Angeles bulk tonnage deposit. Additional evaluations will include an operating cost estimate covering the mine and recovery plant, based on reagent and consumable usage, energy, and diesel consumption, from the 2013 to 2018 operating period which will be updated for current pricing. Labour, staff and management costs will be based on the current wage structure and union labour contracts that have recently been signed. As part of the study, a capital cost estimate will be prepared to cover restart needs and will evaluate a potential throughput expansion within 24 months of commercial production. This data is to be supported by contractor bids and vendor prices. The above data will then be used in an economic evaluation to determine project viability. The MRS is expected to be completed in Q2 of this year.
Mine and Infrastructure
Work has been ongoing to determine necessary steps for the potential re-start of production. In accordance with recommendations made by officials with the Secretaria de la Defensa Nacional, SEDENA, improvements to the underground powder magazines have been completed.
On January 29, 2024, SEDENA approved Guitarra's 2024 explosives permit. This explosives permit must be renewed every year and was a milestone event for any potential resumption of operation. All other operating permits are current and in good standing.
Compressed 6-inch air lines have been installed from the stationary compressors near the main San Rafael portal to the La Cruz portal, a distance of over one kilometre with a 240 metre gain in elevation. Compressors and electrical substations have been serviced and are operational.
Minimizing initial development costs is one of the key factors being used to develop the near-term plan for advancement of the Project. As areas are identified and scheduled in the development plan, the existing haulage ways, access drives and ramps are being inspected for safety and rock stability, cleaned and readied.
Figure 1: Underground Powder Magazine
Processing Plant
All circuits in the processing plant are undergoing maintenance and rehabilitation work which would be required for the resumption of operations. In the grinding circuit, the three ball mills are being relined, all parts of the central drive shaft mechanisms overhauled, and the motors cleaned and tested. A fourth ball mill with limited capacity will not be rebuilt at this time.
Figure 2: La Guitarra Ball Mills
Overall, the crushing circuit was found to be in good shape with no costly equipment replacement or major repair items identified. Normal maintenance and overhaul work is ongoing. The fine ore storage bin has had the interior dividers and portions of the walls replated with heavy steel. Conveyor belts and associated motors have been serviced and wear and tear items have been replaced where needed.
The flotation circuit is in good shape. Some piping is being replaced and the pumps are being overhauled and serviced. The Wemco flotation cells are in very good shape, needing only some replating work, along with normal maintenance. No repair work requiring a significant outlay of capital has been identified. The Denver cell circuit will not be needed at this time.
The company's plant operations and maintenance team have advanced the preparation work for a potential plant restart within budget expectations.
The MRS will study an initial production level of 350 tonnes per day. Additional evaluation will be completed on potentially increasing the grinding circuit's capacity to greater than 500 tonnes per day. As part of the MRS, an assessment was made of the throughput capacity of each circuit in order to determine where bottlenecks might exist in potentially expanding processing throughput using the current plant equipment. Below is a flow diagram showing the overall arrangement of plant equipment and throughput capacity
Currently, the identified capacities and expansion choke points in the four circuits making up the processing plant are:
Crushing - 640 tonnes per day, second cone crusher needed for expanded capacity
Grinding - 516 tonnes per day, a new ball mill will be needed for additional throughput
Flotation - 620 tonnes per day plus an additional 580 tonnes per day, conditioner tank needs replumbing, flotation tanks have a total joint 1,200 tonnes per day capacity with some physical re-arrangement.
Concentrate Filtration and Drying - 620 tonnes per day, assuming the historical ore processed to concentrate produced mass reduction of 95%, filters are the limiting factor.
These capacities and the needed equipment to increase plant throughput will be used in the long-term economic analysis portion of the MRS.
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 & Silver (TSXV:SM),(OTCQX:SMDRF) is a precious metals development and exploration company, focused on evaluating the potential of restarting the La Guitarra Mine in the Temascaltepec mining district, Mexico, and the exploration and development of its Tepic and La Tigra properties in Nayarit, Mexico. The La 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 has played key roles for managing exploration and development of more than 22Moz gold and 600Moz silver in combined reserves and resources. Sierra Madre´s team of professionals has collectively raised over $1B 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
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 information in this press release includes, but is not limited to, statements with respect to the completion of the Transaction on the terms set out in the definitive agreement (or at all) and the ability of the Company to obtain requisite corporate and regulatory approvals for the Transaction, including but not limited to the approval of the Exchange, Mexican antitrust approval and other governmental approvals as currently anticipated.
In making the forward-looking statements included in this news release, the Company has applied several material assumptions, including that the Company will be able to receive all required regulatory approvals by the timelines currently anticipated (or at all); and that the Company will be able to complete the Transaction on the terms of the definitive agreement. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company´s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk that the Company is not able to complete Transaction on the terms set out in the definitive agreement (or at all) and the risk that the Company is unable to obtain requisite corporate and regulatory approvals, including but not limited to the approval of the TSX Venture Exchange, the Mexican antitrust approval and governmental approval as currently anticipated.
Such forward-looking information represents management´s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
SOURCE: Sierra Madre Gold and Silver
Heliostar Evaluating Test Mining Scenario for Ana Paula in 2024
https://www.newsfilecorp.com/release/197241
February 08, 2024 6:30 AM EST | Source: Heliostar Metals Ltd
Highlights:
Heliostar undertakes review of financing options to complete the existing decline and test mining of a bulk gold sample in advance of a Feasibility Study
Multiple scenarios show the potential to recover >20,000 ounces of gold from stopes averaging 7-10 g/t gold
Demonstrates a potential pathway to production from test mining within 12 months
The Company is assesing non-equity funding options for this program
Heliostar has initiated a Preliminary Economic Assessment ("PEA") planned for completion in H2, 2024
Continued resource growth drilling, PEA, and underground permit modifcation submission to be completed in 2024
Vancouver, British Columbia--(Newsfile Corp. - February 8, 2024) - Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to provide an update on the potential to advance the underground decline and complete test mining to process a bulk sample from the Ana Paula deposit in Guerrero, Mexico.
Heliostar CEO, Charles Funk, commented, "Since acquiring Ana Paula 10 months ago, Heliostar's team has moved quickly to redefine Ana Paula as a high-grade underground gold project. We have successfully increased the resource, identified a >10 g/t gold zone for possible commencement of mining, identified additional resource growth areas, demonstrated significant improvement to gold recoveries, and bolstered the Company's management team. The Company intends to maintain the current high pace of progress in 2024 by studying the benefits of completing the existing underground decline to test mine a bulk sample. In our view, this will be a large step towards de-risking the underground plan for Ana Paula. In addition, it will provide greater confidence in the deposit's gold recoveries, lower the cost of infill drilling and provide a platform for deeper resource growth drilling. The gold contained in the bulk sample can potentially fund the decline development. Heliostar also intends to complete a PEA in the second half of 2024, submit the underground mining permit modifications and continue resource drilling to further grow the Ana Paula resource."
Bulk Sample Options
Ana Paula has a 412-metre-long decline currently completed to one third of its target length by a previous operator. Heliostar is undertaking an internal review on the potential to extend this decline to the base of the High Grade Panel to test mine a bulk sample of the deposit.
The engineering study indicates that the bulk sample will require an additional 1,100m of tunnel development and 317 metres of spiral and stope development. The decline design option has been designed as the best option for future mine production from the current resource.
The design indicates that a production rate of four metres per day would complete tunnel development and stope development within eleven months from commencement. Completing the development would allow for test production within 12 months of commencement of the start of construction.
Gold grades within potential stope targets vary from 7-10 g/t gold. Multiple scenarios indicate potential to recover more than 20,000 ounces of gold from a bulk sample.
Advancement of the decline and mining of a bulk sample can be completed with the current permits held by the Company.
Heliostar is advancing a detailed engineering, mining, and metallurgy review of the potential bulk sample. The Company has held discussions with potential offtake partners and currently has samples from the Ana Paula deposit being assessed for metallurgy, recovery and payability information by potential offtake partners. Preliminary financial modelling suggests the recovered gold value exceeds development costs. The Company is exploring self-funding, non-equity options to finance the decline development, test mining processes, and bulk sample collection.
Heliostar expects this review to be completed before March 30th, 2024, and will provide an update upon completion of this analysis.
Figure 1: Plan and Section map of a decline and stope design option for test mining at Ana Paula.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/197241_7139878d84927954_003full.jpg
Preliminary Economic Assessment and 2024 work program
Heliostar filed a technical report for the updated mineral resource estimate on January 11th, 2024 (see news release on January 12th, 2024). Following this report the company intends to complete a Preliminary Economic Assessment based on this resource in 2024. The company is finalizing the scope of this program and expects to deliver the report in the second half of 2024.
In addition to the PEA, the current resource indicates significant areas for resource expansion and the company has designed a 10,000-15,000-metre drill program to expand the current resource. The drill program's goals include resource growth, infill drilling (to convert gold ounces to higher confidence categories) and new exploration drilling. The potential for constructing the decline will have a significant impact on program design. The Company expects to provide additional details on the 2024 drill program in conjunction with the test mining and bulk sample review. Upon completion of the 2024 drill program, the company intends to provide a resource update that will support a Feasibility Study that is expected to be delivered in 2025.
Upon completion of the PEA the Company intends to use the engineering designs to submit a modification to the open pit mining permit that the company currently holds. The modification to underground only mining is expected to have a significantly smaller physical and environmental footprint than the currently approved permit. Permit modifications are expected to be received prior to completion of the Feasibility Study.
Statement of Qualified Person
Samuel D. Anderson, CPG., Vice President of Projects, of Heliostar Metals Limited, a Qualified Person, as such term is defined by NI 43-101, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Samuel Anderson relied on resource information contained within the "Ana Paula Project NI 43-101 Technical Report Mineral Resource Estimate Update", filed on SEDAR on January 11, 2024 and prepared by by Lewis Teal and Rita Teal of Teal CPG Inc. Ms. Teal and Mr. Teal are each independent Qualified Persons as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Heliostar Metals Ltd.
Heliostar is a junior mining company with a portfolio of high-grade gold projects in Mexico and Alaska.
The Company is developing the 100% owned Ana Paula Project in Guerrero, Mexico. In addition, Heliostar in conjunction with the Mexican federal and local government, is working to permit the San Antonio Gold Project in Baja Sur, Mexico. The Company continues to explore the Unga Gold Project in Alaska, United States of America.
Ana Paula hosts measured and indicated resources of 710,920 ounces of gold (320,204 measured and 390,716 indicated ounces) at 6.60 g/t gold and an inferred resource of 447,512 ounces of gold at 4.24 g/t gold. The asset is permitted for open-pit mining and contains significant existing infrastructure including a portal and a 412-metre-long decline.
For additional information, please contact:
Charles Funk
Chief Executive Officer
Heliostar Metals Limited
Email: charles.funk@heliostarmetals.com
Rob Grey
Investor Relations Manager
Heliostar Metals Limited
Email: rob.grey@heliostarmetals.com
Caution Regarding Forward-Looking Information and Statements
This press release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is often identified by the words "may," "would," "could," "should," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect" or similar expressions. Readers are cautioned that forward-looking information is not based on historical facts but instead reflects the Company's management's expectations, estimates or projections concerning the business of the Company's future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information in this press release includes statements regarding exploration plans, the use of proceeds, and other future plans and objectives, and statements pertaining to receipt of TSX Venture Exchange approval. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: changes in general economic, business and political conditions, including changes in the financial markets; decreases in the prevailing prices for products in the markets that the Company operates in; adverse changes in applicable laws or adverse changes in the application or enforcement of current laws; regulations and enforcement priorities of governmental authorities; compliance with government regulation and related costs; and other risks described in the Prospectus. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
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: Heliostar Metals Ltd.
Xali Gold Confirms SDA Plant in Mexico is Operational and Commences Bulk Sample Testing
https://ca.finance.yahoo.com/news/xali-gold-confirms-sda-plant-120000534.html
Xali Gold Corp.
February 1, 2024·3 min read
CGDXF
0.00%
VANCOUVER, British Columbia, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Xali Gold Corp. (TSXV:XGC) ("Xali Gold” or the “Company”) is pleased to advise that Mexican company, Grupo Minero WIYA (“WIYA”) has made the required repairs to get the San Dieguito de Arriba (“SDA”) Plant in Nayarit, Western Mexico operational and are conducting bulk sample testing at the SDA Plant.
“We are excited to have the SDA Plant up and running again,” says Joanne Freeze, President and CEO of Xali Gold. “WIYA has quickly managed to start the bulk sample program and while they iron out usual commissioning “bugs” and are processing bulk samples from their own mine, we are now in discussions with WIYA to form a Joint Venture and evaluate other opportunities for higher value materials (especially with more gold) from other mines in the area. Longer term, once we have steady cash flow, we will also evaluate more exploration opportunities at the same mines as well as in other parts of Mexico, Latin and South America.”
More details about the SDA Plant, including photos from the ribbon cutting ceremony, can be found on the Company website at: Xali Gold Corp. | Photos
As per the Xali Gold News Release dated December 18, 2023, the Company signed an Agreement with WIYA whereby WIYA agrees to pay US$150,000 per month for 10 months and upon completion of paying a total of US$1.5 Million, WIYA would have the right to own the SDA Plant, however discussions are now ongoing to change these terms into a Joint Venture and operate the plant together for shared profits. Currently, Magellan Acquisition Corp. (“Magellan”), and the Company each own 50% of the SDA plant.
About Xali Gold
Xali Gold has gold and silver projects in Peru and Mexico. 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 6.4 million ounces of gold and 74 million ounces 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 and Matthew Melnyk, CPG., Director Operations, are Qualified Persons as defined by National Instrument 43-101 for the projects discussed above. Ms. Freeze and Mr. Melnyk have 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
Torex Gold Provides Q4 2023 Update on Media Luna Project
Available funding now exceeds remaining capex, with 84% of upfront expenditures committed
https://www.newsfilecorp.com/release/197155
February 07, 2024 6:00 PM EST | Source: Torex Gold Resources Inc. (All amounts expressed in U.S. dollars unless otherwise stated)
Toronto, Ontario--(Newsfile Corp. - February 7, 2024) - Torex Gold Resources Inc. (the "Company" or "Torex") (TSX: TXG)
Silver Dollar Acquires 100% of Nora Silver-Gold Property and Provides Project Update
The Company is fully funded to continue target development on the property.
https://www.newsfilecorp.com/release/197171
February 08, 2024 4:54 PM EST | Source: Silver Dollar Resources Inc.
Vancouver, British Columbia--(Newsfile Corp. - February 8, 2024) - Silver Dollar Resources Inc. (CSE: SLV) (OTCQX: SLVDF) (FSE: 4YW) ("Silver Dollar" or the "Company") announces that it has acquired a 100% interest in Canasil Resources Inc.'s ("Canasil") Nora property located in Durango State, Mexico pursuant to the terms of the Nora option agreement (the "Nora Option Agreement"), previously announced on April 20, 2023.
Figure 1: Location of Nora property and other mines and deposits in the region.
To view an enhanced version of this graphic, please visit:
https://silverdollarresources.com/images/Nora/MX-Map-Nora-LR.jpg
The Nora property is situated in the Eastern Sierra Madre sub-province, in the transition to the high plateau of Mexico, the property lies centrally within the "Silver Trend" that runs from the northwest to the southeast through Durango State. Significant deposits in the region include Endeavour Silver's Guanaceví mine and Fresnillo's San Julián mine on-trend to the northwest, with Endeavour Silver's Pitarrilla Projectapproximately 50 kilometres (km) to the east. Pitarrilla is one of the largest undeveloped silver deposits in the world and was discovered by Perry Durning and Frank (Bud) Hillemeyer, who serve as Silver Dollar's technical advisors.
In connection with the acquisition of the Nora property, Canasil waived certain obligations of Silver Dollar under the Nora Option Agreement on the basis that Silver Dollar encountered certain unresolved discrepancies in verifying the 2020 and 2021 drill results Canasil reported on the Nora property.
While analyzing and relogging drill core as part of its drill target development, Silver Dollar re-assayed select core intervals from Canasil's previous drilling. A total of 161 core samples, plus 16 standards and blanks, were submitted to ActLabs in Zacatecas. This included 157 duplicates of the original core samples from drill holes NRC-20-01, NRC-20-04, NRC-20-06, NRC-21-09, NRC-21-10, NRC-21-11, and NRC-21-12. The ActLabs check assay values received for lead, zinc and copper closely mirror the original assay values Canasil received from ALS Global in Vancouver; however, the gold and silver values are significantly lower as follows:
For gold: of the 157 samples duplicated, Canasil reported 42 samples >1 g/t Au (1.23 - 43.7 g/t) including 18 samples >5 g/t (5.3 - 43.7 g/t), whereas Silver Dollar's re-assaying yielded only three samples >1 g/t Au (1.04, 1.75, and 2.30 g/t).
For silver: of the 157 samples duplicated, Canasil reported 44 samples >200 g/t Ag (133 -1,924 g/t) including 19 samples >500 g/t Ag (504 - 1,925 g/t), whereas Silver Dollar's re-assaying yielded only three samples >100 g/t Ag (129, 158, and 448 g/t).
The QPs from both companies discussed the situation and recommended a further analytical program be carried out to provide some insight into what may have caused the assay discrepancies. However, Canasil did not have the financial resources to contribute to the recommended program and alternatively offered to waive certain of Silver Dollar’s consideration obligations under the Nora Option Agreement and transfer 100% ownership of the Nora property to Silver Dollar for the consideration that has been provided to date (as detailed below), subject to a 2% net smelter returns royalty (the “Royalty”) with Silver Dollar having the right to buy back 1% of the Royalty for $1,000,000. As of the date hereof, Silver Dollar has incurred a total of approximately $134,779 in exploration expenditures on the Nora property, as full consideration for the acquisition thereof. Silver Dollar is not required to provide any further consideration to Canasil to complete the acquisition and the transfer of the Nora concessions to Silver Dollar has been initiated.
The Company previously reported selected highlights from Canasil's 2020 and 2021 drilling programs on the Nora property, which included the discrepancies noted above, in its news releases of May 24, 2023, June 20, 2023, and August 1, 2023, on its website, in its material change report dated April 20, 2023, and its Management's Discussion and Analysis of May 31, 2023. In addition to containing discrepancies, the Company has determined that the disclosure did not conform to National Instrument 43-101 standards and should not be relied upon. Accordingly, the Company retracts the non-compliant prior disclosure of results from Canasil's 2020 and 2021 drilling programs in respect of the Nora property from its disclosure record.
"Although the assay discrepancies from the Candy vein drill core are puzzling, the Nora property has other priority exploration targets that we intend to follow up on while we take a closer look at the Candy vein structure," said Michael Romanik, president of Silver Dollar.
Mike Kilbourne, P.Geo., an independent Qualified Person (QP) as defined in NI 43-101, has reviewed and approved the technical contents of this news release on behalf of the Company. The QP and the Company have not completed sufficient work to verify the information on the Nora property, particularly regarding historical exploration, neighbouring companies, and government geological work.
About Silver Dollar Resources Inc.
Silver Dollar is a mineral exploration company that is fully funded to execute its near-term exploration plans having closed its last financing with lead orders from billionaire mining investor Eric Sprott and NYSE-listed First Majestic Silver. The Company's primary projects lie within Mexico's prolific Durango-Zacatecas silver-gold belt and include the flagship La Joya silver (Cu-Au) property and the Nora silver-gold property. Management has an aggressive growth strategy and is actively reviewing potential acquisitions with a focus on drill-ready projects in mining-friendly jurisdictions.
For additional information, you can download our latest presentation by clicking here and you can follow us on Twitter by clicking here.
ON BEHALF OF THE BOARD
Signed "Michael Romanik"
Michael Romanik,
President, CEO & Director
Silver Dollar Resources Inc.
Direct line: (204) 724-0613
Email: mike@silverdollarresources.com
179 - 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9
Forward-Looking Statements:
This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively, "forward-looking statements"). The forward-looking statements herein are made as of the date of this news 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. These forward-looking statements include the fact that the Company intends to continue fieldwork on the Nora property and follow up on other priority exploration targets on the Nora property; and that the Company intends to take a closer look at the Candy vein structure. Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that the Company's cost and timing expectations are accurate; that Canasil will be able to successfully transfer the claims comprising the Nora property to Silver Dollar; that the Company will be successful in the deployment of its resources and personnel; that the Company will be able to obtain and maintain all permits, licenses and approvals required to complete its planned exploration activities; that management has accurately predicted how the regulatory environment will impact its business and the transfer of the claims comprising the Nora property; and that the Company will have access to sufficient funds to finance its business activities and plans. Additionally, forward-looking statements involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that Canasil may fail to successfully transfer the claims comprising the Nora property to Silver Dollar; that the Nora property is ceased in connection with bankruptcy or insolvency proceedings; that the Nora property becomes the subject of litigation, bankruptcy or insolvency proceedings, or other regulatory or civil proceedings; the Company's operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; political instability; unexpected exploration challenges; unanticipated costs; the Company could fail to obtain the permits, licenses or approvals required to conduct its planned exploration activities; and the loss of key personnel. The forward-looking statements contained in this news release represent management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this news release.
SOURCE: Silver Dollar Resources Inc.
GoGold Releases Q1 2024 Financial Results
https://www.newswire.ca/news-releases/gogold-releases-q1-2024-financial-results-805330044.html
GoGold Resources Inc. Feb 07, 2024, 08:30 ET
Shares Outstanding: 328,222,500
Trading Symbols: TSX: GGD
TCQX: GLGDF
Orla Mining Concludes 2023 Camino Rojo Sulphides Infill Program with Strong Results
https://www.newswire.ca/news-releases/orla-mining-concludes-2023-camino-rojo-sulphides-infill-program-with-strong-results-890427464.html
Orla Mining Ltd. Feb 07, 2024, 06:00 ET
138.6m @ 3.21 g/t Au incl. 8.7m @ 9.15 g/t
43.0m @ 4.12 g/t Au, incl. 11.5m @ 10.0 g/t, (and incl. 2.0m @ 32.2 g/t)
20.5m @ 5.30 g/t Au, incl. 14.5m @ 7.19 g/t Au, (and incl. 1.4m @ 37.0 g/t Au)
53.3m @ 3.65 g/t Au, incl. 1.3m @ 19.4 g/t Au & 1.4m @ 30.8 g/t Au
VANCOUVER, BC, Feb. 7, 2024 /CNW/ - Orla Mining Ltd. (TSX: OLA) (NYSE: ORLA)
Fabled Silver Gold Reports Termination of Letter of Intent for Acquisition of Mecatona Property and Transfer to the NEX
https://thenewswire.com/press-releases/1BKRFj681-fabled-silver-gold-corp-reports-termination-of-letter-of-intent-for-acquisition-of-mecatona-property-and-transfer-to-the-nex.html
Vancouver, British Columbia – TheNewswire - February 7, 2024 – Fabled Silver Gold Corp. (“Fabled” or the “Company”) (TSXV:FCO); (OTC:FBSGF), and (FSE:7NQ) wishes to announce that it has mutually terminated its letter of intent with Kootenay Silver Inc. (TSXV: KTN) (“Kootenay”) with respect to the proposed acquisition the Mecatona Property, as first announced in its press release dated February 21, 2023.
Following a review process by the Company’s board of directors, and consultation with Kootenay and the TSX Venture Exchange (the “Exchange”), the Company has determined that is unable to obtain suitable financing to meet the requirements of the Exchange with respect to the acquisition.
The Company would like to thank Kootenay for its cooperation during this time.
Fabled also announces that it has terminated its previously announced private placement, as described in its news release dated May 18, 2023.
No subscriptions were closed pursuant to the private placement and therefore no cash sums were raised or securities issued.
Transfer to the NEX
Fabled further announces that it has applied to and received the acceptance of the Exchange to be transferred to the NEX board of the Exchange and resume trading thereon effective February 12, 2024 (the “Effective Date”). The transfer to the NEX is as a result of the Company’s inability to meet continued listing requirements for a TSX Venture Exchange Tier 2 issuer in accordance with Exchange Policy 2.5.
The Company’s trading symbol will change from FCO to FCO.H on the Effective Date as a result of the transfer. There is no change in the Company’s name or CUSIP number.
The Company intends to begin reviewing opportunities that will qualify the Company to return to trading on the TSX Venture Exchange in future.
About Fabled Silver Gold Corp.
Fabled Silver Gold Corp. is a publicly traded company which formerly operated as a mining exploration company but is currently focused on identifying new opportunities.
Contact Information:
Mr. Peter J. Hawley, President and C.E.O.
Fabled Silver Gold Corp.
Phone: (819) 316-0919
peter@fabledfco.com
Neither the TSX Venture Exchange nor its Regulations Service 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.
Cautionary Note Regarding Forward-Looking Information
Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains any required regulatory approvals. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Forward-looking information in this document includes statements concerning the Company’s intention to complete the Proposed Acquisition and all other statements that are not statements of historical fact.
Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; industry conditions, including fluctuations in commodity prices; governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in mining operations; changes in tax laws and incentive programs relating to the mining industry; as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedarplus.ca. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
Prismo Metals To Resume Drilling at Palos Verdes Prismo
Samples 930 g/t Silver and 10.55 g/t gold at Palos Verdes (2,605 g/t AgEq*)
https://www.newsfilecorp.com/release/196931
February 06, 2024 8:00 AM EST | Source: Prismo Metals Inc.
Vancouver, British Columbia--(Newsfile Corp. - February 6, 2024) - Prismo Metals Inc. (CSE: PRIZ) (OTCQB: PMOMF)
Prime Intersects 3.74 gpt AuEq Over 5.7m at Z-T in New High-Grade Mineralized Zone 350m Beyond Current Resource Pit While Extending High-Grade Shoots at Depth
https://ca.finance.yahoo.com/news/prime-intersects-3-74-gpt-110000031.html
Prime Mining Corp.
Tue, February 6, 2024 at 3:00 a.m. PST
Avino Reports Oxide Tailings Project Prefeasibility Study With After-Tax NPV of US$61 Million and 26% IRR
https://www.accesswire.com/830619/avino-reports-oxide-tailings-project-prefeasibility-study-with-after-tax-npv-of-us61-million-and-26-irr
Monday, 05 February 2024 06:45
VANCOUVER, BC / ACCESSWIRE / February 5, 2024 / Avino Silver & Gold Mines Ltd. (TSX:ASM)(NYSE American:ASM)(FSE:GV6)
CMC Metals Provides an Update on its Gavilanes Silver-Gold-Polymetallic Project in the San Dimas Area, Durango, Mexico
https://www.accesswire.com/828982/cmc-metals-ltd-provides-an-update-on-its-gavilanes-silver-gold-polymetallic-project-in-the-san-dimas-area-durango-mexico
Monday, 29 January 2024 11:30
VANCOUVER, BC / ACCESSWIRE / January 29, 2024 / CMC Metals Ltd. (TSX-V:CMB)(Frankfurt:ZM5P)(OTCQB:CMCXF) ("CMC" or the "Company") is pleased to provide an update on its Gavilanes silver-gold-polymetallic project.
The management team including Kevin Brewer, President and CEO, Jose Manuel Delgado Canedo, Director, CFO and Legal Advisor-Mexico, and Cesar Symonds, Project Geologist attended the annual assembly of the Ejido de los Gavilanes yesterday. The Company outlined its exploration plans for Gavilanes for 2024. The Ejido de los Gavilanes expressed support for the project and has agreed to enter into a Letter of Intent with CMC to advance an exploration agreement for the project. This is an important milestone for the project as the ejido control the surface rights and are also highly influential in the process related to the assignment of exploration permits in Mexico. An extension of the current permit has recently also been filed with the Mexican permitting authority SEMARNAT.
The Company has also made considerable progress on financing the project. It recently attended and presented the Metals Investor Forum and the Vancouver Resource Investment Conference in late January in Vancouver where it met with numerous potential investors and groups that have expressed interest in supporting the project. The Company has entered into discussions with a consortium that are considering a strategic partnership in the project.
The Company is actively working towards financing Phase 1 of the project. This will include securing funding for drilling and exploration activities at Gavilanes, the initial property payment to Sailfish Royalty Corp., and concession taxes. The Company intends to use its proceeds from the sale of the Bishop gold mill and financing the remaining requirements through either the formation of a strategic partnership for the project or implementing a financing effort. In this regard, the Company will be confirming its intentions in the near future.
The Company is also finalizing the exploration plan for the project which proposes to complete up to 4,500 meters in the Gavilanes Zone in 2024.
Kevin Brewer, President and CEO noted "Our meetings in Vancouver went better than we had expected. We had a very high level of interest in this project and we are now very confident that we will be able to proceed with our plans for 2024. We expect to be able to soon release the exploration strategy that is focused on resource expansion. The Company will not be instituting a share rollback to finance Phase 1-2024 of the Gavilanes Project. A recent independent valuation by Fundamental Research Corp., at $0.17 per common share, indicates that we are significantly undervalued. As we continue to make this project a reality we are confident our value will be reflected in improved valuation for our shareholders."
The silver-gold polymetallic Gavilanes Project (13,594.5 hectares) has a current NI 43-101 Inferred Resource of 18,174,000 contained silver-equivalent ("Ag-Eq") ounces at an average grade of 320.3 g/t Ag-Eq within 1,765,000 tonnes (Mine Development Associates/Respec Resource Gesociences Inc., 2021). The metal prices assumed in the resource estimate were $19.00 USD/oz silver, $1,600 USD/oz gold, $3.50 USD/lb copper, and $1.00 USD/lb for lead and zinc.
Qualified Person
Qualified Person Kevin Brewer, a registered professional geoscientist, is the Company's President and CEO, and Qualified Person (as defined by National Instrument 43-101). He has given his approval of the technical information pertaining reported herein. The Company is committed to meeting the highest standards of integrity, transparency and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying and all other technical data.
About CMC Metals Ltd.
CMC Metals Ltd. is a growth stage exploration company focused on opportunities for high grade polymetallic deposits in Mexico, Yukon, British Columbia and Newfoundland. Our new flagship project is the Gavilanes Silver-Gold Project, San Dimas, Durango, Mexico. Our polymetallic silver-lead-zinc CRD prospects in the Rancheria Silver District include the Silverknife and Amy projects (British Columbia) and the Silver Hart Deposit and Blue Heaven claims (Yukon). Our polymetallic projects with potential for copper-silver-gold and other metals include Bridal Veil (Newfoundland) and Logjam (Yukon).
On behalf of the Board:
"John Bossio"
John Bossio, Chairman, Board of Directors, CMC METALS LTD.
For Further Information and Investor Inquiries:
Kevin Brewer, P. Geo., MBA, B.Sc.(Hons), Dip. Mine Eng.
President, CEO and Director
Tel: (+52) 669 198 8503
kbrewer80@hotmail.com
Suite 1000-409 Granville St., Vancouver, BC, V6C 1T2
To be added to CMC's news distribution list, please send an email to info@cmcmetals.ca or contact Mr. Kevin Brewer directly.
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.
"This news release may contain certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. In this release disclosure regarding the potential to undertake future exploration work comprise forward looking statements. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects, to carry out the work and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, the impact of the constantly evolving COVID-19 pandemic crisis and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company's filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation."
SOURCE: CMC Metals Ltd.
Kingsmen Resources: Las Coloradas Project - Old Mine Workings Traced
https://www.newsfilecorp.com/release/196479
February 01, 2024 8:00 AM EST | Source: Kingsmen Resources Ltd
Vancouver, British Columbia--(Newsfile Corp. - February 1, 2024) - Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF)("Kingsmen" or the "Company") is pleased to update progress on the Las Coloradas project, located 30km from Hildago de Parral, Chihuahua, Mexico. Portions of the Soledad structure were mined by ASARCO (American Smelting and Refining Company), the U.S. based subsidiary of Grupo Mexico in the period 1944 to 1952.
Kingsmen has identified the extent of the old ASARCO workings (1943 to 1952) on the 1.7 km long Solidad vein system (Figure 1). The workings are located on the southern end of the Solidad vein system and were confined to the area shown on Figure 1. The workings extend in excess of 250 meters along strike and to a vertical depth of approximately 125 meters on four levels. The workings did not extend below the water table. All production was shipped to ASARCO's mining facilities at Parral where ASARCO was operating the La Prieta, Veta Colorada, Palmilla and Santa Bárbara mines. Average mining diluted grades are reported to have been in the order of 0.6 to 0.8 g/t gold, 300 to 518 g/t silver, 6.2 to 10.9 % lead and 6.5 to 10.3 % zinc, from four different veins, called La Soledad, Santo Niño, Eva and Rosario.
Kingsmen's sampling of residual mineralization in the old workings (where accessible) confirmed the presence of high-grade silver which likely continues at depth below the water table (Figure 1). In addition, significant silver mineralization exists along the 1.7 km Soledad vein system, and along the approximately 1.0 km Soledad II vein system as indicated by Kingsmen's sampling.
Scott Emerson, President, commented: "All of the work we have conducted and are continuing to do at Las Coloradas, whether new sampling, mapping and analysis of the historic workings, all indicate that the extent of mineralization is far greater than the footprint of the historical resource."
Figure 1
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9640/196479_8d2c09ea249f7b3c_002full.jpg
About Las Coloradas
The Las Coloradas Project (8.5 km2 -3.3 sq miles) represents a consolidation of a historic mining district which covers numerous silver-gold-lead-zinc-copper mines previously exploited by ASARCO.
Las Coloradas is in the Parral mining district of the Central Mexican Silver Belt and is located approximately 30 kilometers southeast of the city of Hildago de Parral and 40 kilometers east of the San Francisco de Oro and Santa Barbera mining districts where several old major mines are located, such as La Prieta, Veta Colorada, Palmilla, Esmeralda, San Francisco del Oro and Santa Barbara. As well, new major mining projects are currently being explored in the district; Cordero (Discovery Silver Corp.), 35 kms north of Parral, and La Cigarra (Kootenay Silver Inc.), 35 kms northwest of Parral. Click here to see locator map, https://www.kingsmenresources.com/area-history.
Qualified Person
Kieran Downes, Ph.D., P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure set out in this news release.
About Kingsmen Resources
In line with Kingsmen's organic-growth strategy, the Company's focus is on exploration and development, and is currently focused on district-scale exploration for high-margin metallic mineral deposits in the prolific mining districts of Parral Mexico. In addition, the Company has a 1% NSR on the Los Ricos North project in Mexico operated by GoGold Resources Inc. The Company's leaders have extensive experience in the mining and financial sectors. Kingsmen is a publicly-traded company (TSXV: KNG) (OTCQB: KNGRF) headquartered in Vancouver, British Columbia.
On behalf of the Board,
"Scott Emerson"
Scott Emerson,
President & CEO
Phone: 604-685-9316
Email: se@kingsmenresources.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement:
All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-Looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding the completion of the acquisition of the Las Coloradas Project and receipt of regulatory approval, are forward-looking statements. Although Kingsmen believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Kingsmen can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in Kingsmen's periodic filings with Canadian securities regulators, and assumptions made with regard to: Kingsmen's ability to make the required payments under the definitive agreements; and Kingsmen's ability to secure the necessary regulatory approvals. Forward-Looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Kingsmen's expectations include risks associated with the business of Kingsmen; risks related to the satisfaction or waiver of certain conditions to the closing of the acquisition of the Las Coloradas Project; non-completion of the acquisition of the Las Coloradas Project; risks related to exploration and potential development of the Las Coloradas Project; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in Kingsmen's filings with Canadian securities regulators on SEDAR in Canada (available at www.sedarplus.ca). Forward-Looking statements are based on estimates and opinions of management at the date the statements are made. Kingsmen does not undertake any obligation to update forward looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
SOURCE: Kingsmen Resources Ltd
Aztec Continues to Expand the Cervantes Project California Zone with Additional Intersections of Broad and Shallow Oxide Gold Mineralization
https://www.accesswire.com/829184/aztec-continues-to-expand-the-cervantes-project-california-zone-with-additional-intersections-of-broad-and-shallow-oxide-gold-mineralization
Tuesday, 30 January 2024 07:00
The remaining 10 Reverse Circulation (RC) drill holes from the California Zone all intersected broad oxidized near surface gold mineralization.
All 13 step out drill holes of the recently completed program expanded the California zone gold mineralization in multiple directions.
Step out drilling has grown the area of demonstrated Au mineralization of the California zone to 1,000m East-West.
The 2023 exploration program was successful in discovering extensions, particularly to the West and Northwest, and confirms the broad style of the gold mineralized zone.
VANCOUVER, BC / ACCESSWIRE / January 30, 2024 / Aztec Minerals Corp. (TSXV:AZT)(OTCQB:AZZTF)
Silver Storm Drills 1,000 g/t Ag.Eq Over 5.25 m Identifies 370 m of Vertical Continuity in San Nicolas Zone
https://www.newsfilecorp.com/release/195889
January 29, 2024 7:15 AM EST | Source: Silver Storm Mining Ltd.
Toronto, Ontario--(Newsfile Corp. - January 29, 2024) - Silver Storm Mining Ltd. (TSXV: SVRS) (OTCQB: SVRSF) (FSE: SVR)
reading, lot of action here
reading, lot of action here
Guanajuato Silver Commences Processing 3rd Party Gold and Silver at El Cubo
https://www.accesswire.com/825673/guanajuato-silver-commences-processing-3rd-party-gold-and-silver-at-el-cubo
Wednesday, 17 January 2024 06:33
VANCOUVER, BC / ACCESSWIRE / January 17, 2024 / Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR)(OTCQX:GSVRF) is pleased to announce commencement of a relationship with a Mexican silver mining company to process a portion of its surface inventory of mineralized material at Guanajuato Silver's wholly owned El Cubo mines complex located in Guanajuato, Mexico.
Guanajuato Silver's Chairman & CEO, James Anderson said, "We are excited to have reached this agreement which will utilize a considerable amount of the excess capacity that exists at our El Cubo mill. We believe both parties will mutually benefit from this agreement, as we collectively look to expand silver production in the Guanajuato area through the processing of low-cost and readily available material. With additional unutilized capacity still available at El Cubo, we continue to pursue similar business agreements with other mining groups in the area."
This material has been demonstrated compatible with the El Cubo processing circuit through comprehensive metallurgical testing; the first silver and gold concentrates from this processing agreement are expected to be generated prior to the end of January 2024.
About Guanajuato Silver
GSilver is a precious metals producer engaged in reactivating past producing silver and gold mines in central Mexico. The Company produces silver and gold concentrates from the El Cubo Mine Complex, Valenciana Mines Complex, and the San Ignacio mine; all three mines are located within the state of Guanajuato, which has an established 480-year mining history. In addition, the Company produces silver, gold, lead, and zinc concentrates from the Topia mine in northwestern Durango. With four operating mines and three processing facilities, Guanajuato Silver is one of the fastest growing silver producers in Mexico.
Technical Information
Hernan Dorado Smith (Qualified Professional - MMSA), a director and officer of GSilver and a "qualified person" as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, has approved the scientific and technical information contained in this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
"James Anderson"
Chairman and CEO
For further information regarding Guanajuato Silver Company Ltd., please contact:
JJ Jennex, Gerente de Comunicaciones, T: 604 723 1433
E: jjj@GSilver.com
Gsilver.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
This news release contains certain forward-looking statements and information, which relate to future events or future performance including, but not limited to, the benefit from the agreement announced in this press release, expansion of silver production in the Guanajuato area through the processing of low-cost and readily available material, unutilized capacity still available at El Cubo, the pursuit of similar business agreements with other mining groups in the area, the amount of tonnes of additional material to be processed at the El Cubo mill on a monthly basis, the expected timeline to generate the first silver and gold concentrates from this processing agreement, and the Company's status as one of the fastest growing silver producers in Mexico.
Such forward-looking statements and information reflect management's current beliefs and expectations and are based on information currently available to and assumptions made by the Company; which assumptions, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: our estimates of mineral resources and other mineralized material at El Cubo and the Company's other mining projects in Guanajuato, Mexico and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock conforming to sampled results and metallurgical performance; available tonnage of mineralized material to be mined and processed; resource grades and recoveries; assumptions and discount rates being appropriately applied to the 2023 Preliminary Economic Assessment on El Cubo ("2023 PEA"); the ability of the Company to ramp up processing of mineral resources and material at El Cubo and the Company's other mining projects at the projected rates and source sufficient high grade mineralized material to fill such processing capacity; prices for silver, gold and other metals remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company's projects and to satisfy current liabilities and obligations including debt repayments; capital cost estimates; operating costs; decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation) and inflation rates remaining as estimated; no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
Readers are cautioned that such forward-looking statements and information are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results, level of activity, production levels, performance or achievements of GSilver to differ materially from those expected including, but not limited to, market conditions, availability of financing, future prices of gold, silver and other metals, currency rate fluctuations, high inflation and interest rates, actual results of production, exploration and development activities, actual resource grades and recoveries of silver, gold and other metals, availability of third party mineralized material for processing, unanticipated geological or structural formations and characteristics, geopolitical conflicts including wars, environmental risks, operating risks, accidents, labor issues, equipment or personnel delays, delays in obtaining governmental or regulatory approvals and permits, inadequate insurance, and other risks in the mining industry. There are no assurances that GSilver will be able to successfully discover and mine sufficient quantities of high grade mineral resources or other material at El Cubo, VMC, San Ignacio and Topia (including at Topia buying and processing ore from contractors) for processing at its existing mills to increase production, tonnage milled and recovery rates of gold, silver, and other metals in the amounts, grades, recoveries, costs and timetable anticipated. In addition, GSilver's decision to process mineral resources and other material from El Cubo, VMC, San Ignacio and Topia is not based on a feasibility study of mineral reserves demonstrating economic and technical viability and therefore is subject to increased uncertainty and risk of failure, both economically and technically. Mineral resources and mineralized material that are not mineral reserves do not have demonstrated economic viability, are considered too speculative geologically to have economic considerations applied to them, and may be materially affected by environmental, permitting, legal, title, socio-political, marketing, and other relevant issues. There are no assurances that the Company's projected production of silver, gold and other metals or the 2023 PEA will be realized. In addition, there are no assurances that the Company will meet its production forecasts or generate the anticipated cash flows from operations to satisfy its scheduled debt payments or other liabilities when due or meet financial covenants to which the Company is subject or to fund its exploration programs and corporate initiatives as planned. There is also uncertainty about the continued spread and severity of COVID-19, the ongoing war in Ukraine and high inflation and interest rates and the impact they will have on the Company's operations, supply chains, ability to access mining projects or procure equipment, supplies, contractors and other personnel on a timely basis or at all and economic activity in general. Accordingly, readers should not place undue reliance on forward-looking statements or information. All forward-looking statements and information made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com including the Company's most recently filed annual information form. These forward-looking statements and information are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by law.
SOURCE: Guanajuato Silver Company Ltd.
Tocvan Discovers New Gold - Silver Trend at Picacho Project; Rock Chips Return up to 15.9 g/t Gold, Plus Rock Float with Coarse Visible Gold Specimen Found
https://www.accesswire.com/827238/tocvan-discovers-new-gold--silver-trend-at-picacho-project-rock-chips-return-up-to-159-gt-gold-plus-rock-float-with-coarse-visible-gold-specimen-found
Tuesday, 23 January 2024 09:00
Highlights
Surface Program Completed at Picacho Returns Up to 15.9 g/t Au and 32 g/t Ag
NEW 1.6-kilometer Mineralized Trend Defined
Visible Gold Discovered in Float Sample at San Ramon Prospect, 200-meters from Drill Discovery
75 Samples in Total Collected with Average Grade of 0.6 g/t Au and 2 g/t Ag
Tocvan Ventures Overview
CALGARY, AB / ACCESSWIRE / January 23, 2024 / Tocvan Ventures Corp. (the "Company") (CSE:TOC);(OTCQB:TCVNF);(FSE:TV3)
Infintium Copper Completes 80% Earn In with Minaurum Gold and Releases Final 2023 Drilling Results for La Adelita
https://www.accesswire.com/828007/infintium-copper-completes-80-earn-in-with-minaurum-gold-and-releases-final-2023-drilling-results-for-la-adelita
Wednesday, 24 January 2024 23:00
VANCOUVER, BC / ACCESSWIRE / January 24, 2024 / Infinitum Copper Corp. (TSXV:INFI)(OTCQB:INUMF)
Colibri Begins High-Definition Magnetic Survey and Mapping of Priority Targets at Flagship EP Gold Project in Sonora, Mexico
https://www.newsfilecorp.com/release/194725
January 18, 2024 10:01 AM EST | Source: Colibri Resource Corporation
Dieppe, New Brunswick--(Newsfile Corp. - January 18, 2024) - Colibri Resource Corporation (TSXV: CBI) ("Colibri" or the "Company") announces that it has contracted Geo Digital Imaging de Mexico, S.A. de C.V. to complete an up to 1373.5 hectare (Ha) high-definition magnetic survey covering the highest priority targets identified on the Plomo claims of its flagship EP Gold project. In addition, Company geologists are presently in the field completing an additional geological mapping and sampling study at these priority targets.
Figure 1 - Magnetic Survey Area at EP Gold Project
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/194725_8e74b96d244628ff_001full.jpg
Ian McGavney, Colibri's President & CEO states, "The data generated from these studies will be added to our already robust dataset at the EP Gold Project and will assist us in selecting hole locations for Colibri's inaugural drilling program at the Plomo in Q2 2024. The drill program will test several of our highest priority targets on the Plomo (San Perfecto, Pavo Real, and Banco de Oro) and also further test the West Sahuaro target area on the Evelyn claim, where the Company recently announced the discovery of a zone which exhibited the most continuous and highest grade gold mineralization intersected to date at the EP Project."
The aerial magnetic survey of up to 1373.5 hectares will be completed by way of 312 km in 81 NS lines at 50-meter separation and 8 EW tie-lines at 500-meter separation using a DRONEmag magnetic sensor. This plan has been designed with similar specifications used in a property wide survey at Evelyn in 2020 so that both sets of data can be blended seamlessly. The survey is already underway and began on January 15th. The airborne magnetic survey is expected to take approximately 10 days to complete in the field and the subsequent report of its results and an expert interpretation is anticipated to be delivered within two weeks.
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 2).
Figure 2 - EP Project location within the Caborca Gold Belt
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/194725_8e74b96d244628ff_002full.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 the newly discovered West Sahuaro (see News Release: December . On the Plomo property, the Company has compiled historical exploration data and has completed its first exploration program 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 3) 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.
Figure 3 - EP Project Targets
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/194725_8e74b96d244628ff_003full.jpg
ABOUT COLIBRI RESOURCE CORPORATION:
Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) and is focused on acquiring and exploring prospective gold & silver properties in Mexico. The Company holds six high potential precious metal projects.
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, and Director, Tel: (506) 383-4274, ianmcgavney@colibriresource.com.
SOURCE: Colibri Resource Corporation
Gatos Silver Reports New Intercepts of High-Grade Mineralization at Cerro Los Gatos
https://ca.finance.yahoo.com/news/gatos-silver-reports-intercepts-high-211500852.html
Gatos Silver, Inc.
Thu, January 25, 2024 at 1:15 p.m. PST
Orla Mining Provides an Update on Infill Drilling at Camino Rojo Sulphides Deposit with Multiple Highly Positive Drill Intersections
https://www.newswire.ca/news-releases/orla-mining-provides-an-update-on-infill-drilling-at-camino-rojo-sulphides-deposit-with-multiple-highly-positive-drill-intersections-856949191.html
Orla Mining Ltd. Jan 25, 2024, 06:00 ET
3.41 g/t Au over 36m, incl. 29.2 g/t Au over 3.0 m,
2.94 g/t Au over 66.5 m, incl. 4.98 g/t Au over 16.5 m,
2.44 g/t Au over 49.5 m, incl. 4.59 g/t Au over 21.0 m, and
2.22 g/t Au over 96.5 m, incl. 3.24 g/t Au over 33.9 m
VANCOUVER, BC, Jan. 25, 2024 /CNW/ - Orla Mining Ltd. (TSX: OLA) (NYSE: ORLA)
SilverCrest Provides Fourth Quarter and Annual Operational Results, Management Update and Conference Call Details
https://www.newswire.ca/news-releases/silvercrest-provides-fourth-quarter-and-annual-operational-results-management-update-and-conference-call-details-850587682.html
SilverCrest Metals Inc. Jan 23, 2024, 17:00 ET
2023 Sales Guidance Exceeded, Treasury Assets Increased by 29% in Q4, 2023
TSX: SIL | NYSE American: SILV
MAG Announces Fourth Quarter and 2023 Production From Juanicipio
https://ca.finance.yahoo.com/news/mag-announces-fourth-quarter-2023-115000515.html
MAG Silver Corp.
Wed, January 24, 2024 at 3:50 a.m. PST
MAG
-0.11%
VANCOUVER, British Columbia, Jan. 24, 2024 (GLOBE NEWSWIRE) -- MAG Silver Corp. (TSX / NYSE American: MAG)
Kootenay Silver Announces Updated Mineral Resource Estimate for La Cigarra Project, Chihuahua Mexico
https://www.newswire.ca/news-releases/kootenay-silver-announces-updated-mineral-resource-estimate-for-la-cigarra-project-chihuahua-mexico-859567404.html
Kootenay Silver Inc. Jan 25, 2024, 07:15 ET
VANCOUVER, BC, Jan. 25, 2024 /CNW/ - Kootenay Silver Inc. (TSXV: KTN)
Endeavour Silver Provides 2024 Update for the Terronera Project; Initial Production Remains on Schedule for End of 2024
https://ca.finance.yahoo.com/news/endeavour-silver-provides-2024-terronera-115000441.html
Endeavour Silver Corporation
Wed, January 24, 2024 at 3:50 a.m. PST·8 min read
EXK
-4.78%
VANCOUVER, British Columbia, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR)
Discovery Announces 2024 Work Program for Cordero
https://ca.finance.yahoo.com/news/discovery-announces-2024-program-cordero-110000383.html
Discovery Silver Corp.
Wed, January 24, 2024 at 3:00 a.m. PST·8 min read
DSVSF
-2.44%
TORONTO, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Discovery Silver Corp. (TSX: DSV, OTCQX: DSVSF) (“Discovery” or the “Company”) is pleased to outline its 2024 work program for its Cordero project (“Cordero” or “the Project”) located in Chihuahua State, Mexico.
Tony Makuch, President and CEO, states: “2024 is expected to be a transformational year for the Company. Our Feasibility Study is nearing completion and is on track to be delivered later this quarter. The study will incorporate an additional 35,000 m of drilling that highlighted the potential to extend the mine life beyond the 18 years outlined in the Pre-Feasibility Study, as well as the results from recent metallurgical testwork that demonstrated higher silver payabilities and reduced reagent consumption.
“The Feasibility Study is expected to position Cordero as the only silver development stage asset in the industry that will produce more than 30 million ounces of silver-equivalent production annually once built. This impressive scale is accompanied by a long mine life, excellent capital efficiency due to staged expansions of the process plant and operating costs in the bottom half of the cost curve, emphasizing the strategic importance of Cordero within the silver space. In 2024, we also look forward to moving our way through the permitting and project financing process with the objective of reaching a construction decision in late 2024 or early 2025. We remain well funded to deliver on our key milestones this year with a cash balance at the end of 2023 of approximately C$60 million.”
ENGINEERING & PROJECT DEVELOPMENT
The Feasibility Study (“FS” or the “Study”) is expected to be delivered later this quarter. The FS will incorporate staged expansions of the processing facility to maximize the capital efficiency of the Project and will include an additional 35,000 m of reserve definition and expansion drilling, the results from the FS metallurgical testwork program as well as additional geotechnical and hydrogeology data collected in 2023. The Company will also provide an updated resource estimate concurrent with the results of the Study.
Following the delivery of the FS the Company plans to commence Front-End Engineering Design (“FEED”) work for the Project. This engineering work consists of early project planning and will enable the Company to place orders for long lead-time items and to award the EPC/EPCM contract for the development of the Project.
The Company plans to progress all financing options for the Project through the course of 2024. These options include equity, debt, offtake, joint ventures, partnerships, lease financing on major equipment, streams, royalties and other strategic alternatives.
PERMITTING
The two principal environmental permits required for the construction, operation and closure of Cordero are:
Environmental Impact Assessment (“Manifestacion de Impacto Ambiental” or “MIA”)
Change of Land Use (“Cambio de Uso de Suelo” or “CUS”)
Both permits are subject to review and approval by the Secretaría de Medio Ambiente y Recursos Naturales (“SEMARNAT”), Mexico’s federal agency for natural resources and the environment.
The Company formally submitted for evaluation its MIA in August 2023. The MIA incorporates extensive social and environmental work programs completed by the Company’s team in Mexico since 2020 in conjunction with multiple reviews by third-party consultants. The review process of the MIA submission by SEMARNAT is ongoing.
The CUS submission is supported by a Change of Land Use Study known as an Estudio Tecnico Justificativo (“ETJ”). Compilation of the ETJ by the Company and third-party consultants will be finalized in the coming months with formal submission of the CUS expected to be made by 3Q 2024.
KEY DE-RISKING ITEMS
Power: impact assessment and power installation studies were completed in 2023 confirming that there is sufficient capacity in the existing power grid to supply the Project with power for operations at peak throughput levels. The FS will include detailed capital cost estimates for the standard upgrades required at the Camargo II substation and for the installation of a 74-kilometre powerline from the substation to Cordero. The Company has identified three potential routes for the powerline. Work in 2024 for the powerline will consist of finalizing the powerline route, surface rights access negotiations, permitting and engineering for both the Camargo II substation upgrade and the new powerline to site. The option to use renewable energy sources at site to supplement grid power will also be evaluated.
Surface Rights: in 2023 the Company secured the surface rights that correspond with the planned open pit and key infrastructure locations at Cordero. In 2024, the Company will focus on acquiring ancillary surface rights where appropriate as well as securing long-term access and lease agreements for nearby land as required.
Hydrology: the two potential sources of water for the Project are local groundwater and water from local water treatment plants in the region. The Company has completed a hydrogeological assessment through its Mexican specialist consultant Investigacion y Desarrollo de Acuiferos y Ambiente (“IDEAS”) utilising data from hydrogeology drilling and pump test wells. Initial results indicate the potential for sufficient local groundwater for Phase 1 of the project (mill throughput of ~25,000 tonnes per day). In addition, M3 Engineering & Technology recently completed a technical review on the scope and cost to source water from local water treatment plants. The results from this review will be incorporated in the upcoming FS.
In 2024, the Company plans to initiate the permitting process for the zoning of the groundwater rights it already owns. The Company also plans to advance engineering work for the required upgrades to the water treatment plant and accompanying water pipeline.
EXPLORATION
In 2024, the Company plans to complete mapping and sampling of new target areas along with 2,500 m of drilling. Key target areas include La Perla (10 km south of Cordero), Dos Mil Diez (immediately southwest of Cordero) and Porfido Norte (10 km north of Cordero).
La Perla – targeting is focused on a zone of anomalous silver from rock sampling within a very large alteration footprint and high chargeability / low resistivity anomalies defined by the geophysics program completed in 2022. Historical mine workings are also present within a northeast trending structural corridor (parallel to the orientation of the main mineralized trends at Cordero).
Dos Mil Diez – further mapping and sampling is planned to support the evaluation of chargeability anomalies identified during an IP survey completed in 2022. Dos Mill Diez is located in an area of mapped intrusives, veining and alteration, directly to the southwest of Cordero.
Porfido Norte – additional mapping and sampling is planned to define targets within a northeast trending structural corridor in this area.
The planned drill program for 2024 may be expanded depending on the results of the mapping and sample program and initial drilling. A map showing the location of these target areas can be found at the following link: Property Wide Targets
About Discovery
Discovery’s flagship project is its 100%-owned Cordero project, one of the world’s largest silver deposits. The PFS completed in January 2023 demonstrates that Cordero has the potential to be developed into a highly capital efficient mine that offers the combination of margin, size and scaleability. Cordero is located close to infrastructure in a prolific mining belt in Chihuahua State, Mexico.
On Behalf of the Board of Directors,
Tony Makuch, P.Eng
President, CEO & Director
For further information contact:
Forbes Gemmell, CFA
VP Corporate Development
Phone: 416-613-9410
Email: forbes.gemmell@discoverysilver.com
Website: www.discoverysilver.com
Qualified Person
Gernot Wober, P.Geo, VP Exploration, Discovery Silver Corp., is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release is accurate.
The most recent technical report for the Cordero Project is the 2023 Preliminary Feasibility Study for the Company’s Cordero project. The report was completed by Ausenco with support from AGP, Knight Piésold and Hard Rock and is available on Discovery’s website and on SEDAR under Discovery Silver Corp.
FORWARD-LOOKING STATEMENTS:
Neither TSX Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release is not for distribution to United States newswire services or for dissemination in the United States.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
Cautionary Note Regarding Forward-Looking Statements
This news release may include forward-looking statements that are subject to inherent risks and uncertainties. All statements within this news release, other than statements of historical fact, are to be considered forward looking. Although Discovery believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those described in forward-looking statements. Statements include but are not limited to the timing and results of the feasibility study and the anticipated capital and operating costs, sustaining costs, net present value, internal rate of return, payback period, process capacity, average annual metal production, average process recoveries, concession renewal, permitting of the Project, anticipated mining and processing methods, proposed pre-feasibility study production schedule and metal production profile, anticipated construction period, anticipated mine life, expected recoveries and grades, anticipated production rates, infrastructure, social and environmental impact studies, the completion of key de-risking items, including the timing of receipt permits, availability of water and power, availability of labour, tax rates and commodity prices that would support development of the Project. Information concerning mineral resource/reserve estimates and the economic analysis thereof contained in the results of the pre-feasibility study are also forward-looking statements in that they reflect a prediction of the mineralization that would be encountered, and the results of mining, if a mineral deposit were developed and mined. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those described in forward-looking statements include fluctuations in market prices, including metal prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. Discovery does not assume any obligation to update any forward-looking statements except as required under applicable laws. The risks and uncertainties that may affect forward-looking statements, or the material factors or assumptions used to develop such forward-looking information, are described under the heading "Risks Factors" in the Company’s Annual Information Form dated March 30, 2023, which is available under the Company’s issuer profile on SEDAR at www.sedarplus.ca.
Bear Creek Mining Announces Q4 2023 Mercedes Gold Production of 13,478 Ounces; a 47% Increase over Previous Quarter
2023 Mercedes Production at High End of Guidance with 43,860 Ounces of Gold Produced
https://www.newsfilecorp.com/release/194313
January 16, 2024 8:30 AM EST | Source: Bear Creek Mining Corporation
Vancouver, British Columbia--(Newsfile Corp. - January 16, 2024) - Bear Creek Mining Corporation (TSXV: BCM) (OTCQX: BCEKF) (BVL: BCM)
Angel Wing Metals Provides Exploration Update and Files NI 43-101 Geological Report at La Reyna Project
https://www.newswire.ca/news-releases/angel-wing-metals-provides-exploration-update-and-files-ni-43-101-geological-report-at-la-reyna-project-871878880.html
Angel Wing Metals Inc. Jan 23, 2024, 07:00 ET
TSXV: AWM WWW.ANGELWINGMETALS.COM
VANCOUVER, BC, Jan. 23, 2024 /CNW/ - Angel Wing Metals Inc. (TSXV: AWM) ("Angel Wing Metals" or the "Company") is pleased to provide an exploration update at its La Reyna gold project located in the southern extension of the Sierra Madre Occidental Belt (SMO) in Nayarit State, Mexico. The Company will file a National Instrument 43-101 report titled "Technical Report, The La Reyna Project" under the Company's SEDAR profile and on its website.
Figure 1: Prospect Location Map - Shows trend of the SMO (grey), the Aguila de Oro Mining District (red), and known and inferred veins. (CNW Group/Angel Wing Metals Inc.)
Figure 2: Target Areas Map - High priority target areas for initial drilling (shown as red rectangles). Each area is open in all direction, known mineralization extends beyond each area, and each area may be connected. (CNW Group/Angel Wing Metals Inc.)
Figure 3: Soil Assay Contour Map - Gold in parts per billion (ppb) showing sample location grid (black dots) and the El Polo-Dolorosa soil anomaly in pinks and reds. (CNW Group/Angel Wing Metals Inc.)
Figure 4: Lago de Oro - Plan map showing geology, selected gold assay results and associated rock specimens collected at site. (CNW Group/Angel Wing Metals Inc.)
Figure 5: El Polo Open Pit Mine - Shows the extent of the historic operations and selected high grade assay results for gold. The Asterix marks samples collected on an internal third-party claim. Oblique drone view looking northwesterly. (CNW Group/Angel Wing Metals Inc.)
Figure 6: El Polo-Dolorosa - Plan map showing geology, selected gold assay results and associated rock specimens collected at site. (CNW Group/Angel Wing Metals Inc.)
Figure 7: Celeste - Plan map showing geology, selected gold assay results and associated rock specimens collected at site. (CNW Group/Angel Wing Metals Inc.)
The 106.69 square kilometre (km2) La Reyna Project is a contiguous block of fully titled mineral claims in good standing that consolidates most of the historical Aguila de Oro mining district. Assay results returned from nil to 27.12 grams per tonne gold (g/t Au) and nil to 2,938 g/t silver (Ag) from outcrop chip samples. Other anomalous results were also obtained for lead and zinc, as well as for copper, cobalt, bismuth, and molybdenum. Mineralization is hosted in an extensive area of alteration that has been mapped over 70 square kilometres and is host to numerous past producing shallow mine and gambusino workings (see Figure 1). To date, over 20 prospects with highly anomalous gold and silver have been identified on the Project. This marks the first time this newly consolidated district has seen systematic exploration.
Ongoing exploration continues to advance the understanding of the Project, where three structural domains expose different levels of a large Au (Ag, Cu) bearing epithermal-porphyry system that is interpreted to underlie the Project and the source of the observed alteration and mineralization at surface. The mineral potential of the district will initially be tested in three high priority target areas; Aguila de Oro, El Polo-Dolorosa and Celeste (see Figure 2). Each area includes numerous prospects, old mine workings or outcrop exposures of mineralization. Each target area remains open where mineralization extends beyond the boundaries shown on the map in Figure 2, and each area may be connected.
A ground geophysics program including 11.2 line kilometres of Induced Polarization and 2 line kilometres of HSMAT is underway over El Polo-Dolorosa. Data is being processed with a report including the sections and maps due in early February. This information will be used to further refine drill hole selection in anticipation of an early stage 4,000 metre shallow hole diamond drill program.
President & CEO of Angel Wing Metals, Marc Prefontaine stated: "La Reyna hosts a very large alteration zone with a large number of precious metal - bearing veins. One consistently observes small scale historical workings when travelling around the Project. Several areas host extensive zones with multiple sub parallel vein, breccias and disseminations, all mineralized. This size potential is what excites us. Our initial drill holes will be oriented to drill across areas hosting subparallel veins to see if they host gold grades over sufficient widths that are conducive to an open pit mineable target."
EXPLORATION
During the 2023 exploration program, regional scale mapping and prospecting covered the Project while areas with vein exposure and gold showings were mapped and sampled in detail.
A soil sample program on 100 metre centers covered about 2,100 hectares (1,860 samples) and successfully identified coincident gold and copper soil anomalies for follow up exploration, especially in the El Polo-Dolorosa area, currently the highest priority target for drilling. Anomalous gold values ranged from a background of 30 ppb Au to a maximum of 3,690 ppb (3.69 g/t Au), with 100 samples returning assays greater than 50 ppb Au, and 46 assays greater than 100 ppb Au (see Figure 3).
Approximately 2,000 rock chip samples were collected from outcrop exposures since exploration began. Assay results ranged from not anomalous to a maximum of 27.12 g/t Au, of these:
352 samples returned assays exceeding 0.25 g/t Au,
220 assays greater than 0.5 g/t Au,
130 assays greater than 1.0 g/t Au,
67 assays greater than 2.5 g/t Au and 22 assays greater than 5 g/t Au.
In addition, silver (Ag) assay results ranged from not anomalous to a maximum of 2,938 g/t Ag, of these:
195 samples assayed greater than 10 g/t Ag,
90 samples assaying greater than 30 g/t Ag,
28 assays greater that 90 g/t Ag.
RESULTS
Three areas have been identified as the first priority targets to commence drilling:
1. Aguila de Oro
Veins and breccia occur in northeast trending corridors with individual corridors mapped over approximately 500 to 750 metre widths, and open for extension in all directions within a larger 7 by 10 kilometre corridor. Veins vary from 0.15 to 1.8 metres in width, averaging about 1.2 metres, and were traced at surface over a cumulative 10 kilometre strike length. The longest continuous vein exposure measures 1.5 kilometres at surface (the Cristina vein). The untested strike potential of this system of veins is multi-kilometre. Subparallel vein sets provide wide drill targets with near surface bulk mineable potential.
About 1,025 rock samples have been collected along this trend, which is still at an early stage of exploration. Assay results range from nil to 15.2 g/t Au but consistently return 2 – 15 g/t Au in the old workings (see Figure
4). Of these samples:
Approximately 210 assays were greater than 0.25 g/t Au,
134 assays greater than 0.5 g/t Au,
75 samples greater than 1.0 g/t Au,
40 assays greater than 2.5 g/t Au,
14 greater than 5.0 g/t Au. Silver values varied.
19 samples collected from inside old mine workings ranged from 110 g/t Ag to 2,938 g/t Ag, including some hand cobbed material.
120 samples assayed greater than 10 g/t Ag,
55 assays greater than 30 g/t Ag,
20 assays greater than 90 g/t Ag.
2. El Polo - Dolorosa
This prospect extends at least 2.3 kilometres and varies up to 750 metres wide, and includes numerous other prospects and showings, worked primarily for free gold. Prospects in this area include the past producing El Polo open pit mine and Dolorosa (see Figure 5). No production records are available.
Mineralization at the El Polo pit is structurally controlled by an east westerly trending reverse fault. The fault is a 5 metre thick gold-bearing breccia with a high-grade core (approx. 0.5 m to 2.5 m thick) where a 0.45 m channel sample returned 27.1 g/t Au and 92.0 g/t Ag. Disseminated low grade mineralization occurs across the fault structure and in the surrounding rock estimated to be at least 5 to 8 metres wide. Additional structures are observed in the highwall of the small pit. These could not be systematically sampled due to access issues, but drill holes will be designed to crosscut them.
The El Polo fault crosscuts a northwest structural trend of mineralized veins, breccia's and disseminated mineralization. This zone can be traced southeasterly over 2.3 kilometre to the Dolorosa prospect, where it is up to 750 m wide. Gold mineralization occurs in veins, breccis and is disseminated in the wall rocks. It is also the location of a strong coincident gold soil anomaly (see Figure 3).
A total of 490 rock samples have been collected from this area. Assay results range from nil to 27.12 g/t Au, with:
110 samples returning greater than 0.25 g/t Au,
62 samples greater than 0.5 g/t Au,
21 samples greater than 2.5 g/t Au,
6 samples greater than 5 g/t Au.
Silver assays returned:
59 assays with greater than 10 g/t Ag,
25 assays with greater than 30 g/t Ag,
6 assays with greater than 90 g/t Ag.
(See Figure 6)
The Company's first drill campaign will begin in this high priority area.
3. Celeste
Celeste is an early-stage exploration target where alteration and mineralization has been mapped over a 1.8 kilometre by 800 metre area that remains open in all directions. The prospect contains zones of intense massive silica alteration crosscut by quartz veins 0.2 to 2 metres in width. Samples from this area returned consistent low grade disseminated gold. Deposits in Mexico with comparable settings to Celeste include the Cerro de Gallo gold porphyry located in Guanajuato State, Mexico (see Argonaut Gold website) or the Tepal gold-copper porphyry deposit in Michoacán State (see Defiance Silver website).
A total of 196 samples were collected here that are almost exclusively anomalous in gold. Assay results range from nil to 2.24 g/t Au.
Samples from this area also returned:
50 assays greater than 0.1 g/t Au,
25 assays greater than 0.25 g/t Au,
14 assays greater than 0.5 g/t Au
6 assays greater that 1.0 g/t Au
This prospect presents a large bulk tonnage exploration target for gold that requires further mapping, sampling, and geophysics prior to drilling (see Figure 7).
ESG
In consultation with the local communities, two drill permits were applied for and received from SEMARNAT, providing ample sites to complete all exploration plans for several years. Five-year renewable surface access agreements for exploration, drilling and water use have also been signed with the necessary local communities and ratified by the agrarian authorities. Additional access agreements with individual parcel owners will be needed as drilling on the Project advances.
QA/QC
All rock and soil samples were shipped to SGS Lab in Durango, Durango, Mexico for sample preparation and analysis. SGS lab is ISO/IEC 17025 certified. Silver and 32 elements were analyzed using an exploration grade aqua regia digestion with an ICP finish for rock samples. Silver and base metals were analyzed using a four-acid digestion with an ICP finish for soil samples. Gold was assayed by 30-gram fire assay with an atomic absorption spectroscopy finish. Over limit analyses for gold and silver were re-assayed using an ore-grade 30-gram fire assay with gravimetric finish. Lead and zinc over limits were re-assayed using a sodium peroxide fusion. Control samples comprising certified reference samples, duplicates and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's quality assurance and quality control protocol.
QUALIFIED PERSON
Marc Prefontaine, M.Sc. P.Geo., President and CEO, is a qualified person for the purposes of National Instrument 43-101 and has reviewed and approved the technical content in this news release.
ABOUT ANGEL WING METALS
Angel Wing Metals (TSXV:AWM) is focused on the exploration and development of its portfolio of precious metals properties in Mexico and Canada. The Company's flagship La Reyna Project covers 106.89 km2 in the southern extension of the prolific Sierra Madre Occidental gold-silver belt in the state of Nayarit, Mexico
Angel Wing Metals is committed to sustainable and responsible exploration and business activities in line with industry best practices, supportive of all stakeholders, including the local communities in which the Company operates.
For more information, please visit the Company's website at www.angelwingmetals.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.
Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", " expects" or "does not expect", "proposed", "is expected", "budgets", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. In particular, this news release contains forward-looking information regarding: the outlook on the properties and projects of Angel Wing Metals including planned exploration. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects Angel Wing Metals' current beliefs and is based on information currently available to Angel Wing Metals and on assumptions Angel Wing Metals believes are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of Angel Wing Metals to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive board or regulatory approvals; the actual results of future operations; competition; changes in legislation, including environmental legislation, affecting Angel Wing Metals; the timing and availability of external financing on acceptable terms; and lack of qualified, skilled labor or loss of key individuals. A description of additional assumptions used to develop such forward-looking information and a description of additional risk factors that may cause actual results to differ materially from forward- looking information can be found in Angel Wing Metals' disclosure documents on the SEDAR website at www.sedar.com. Although Angel Wing Metals 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 that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Angel Wing Metals as of the date of this news release and, accordingly, is subject to change after such date. However, Angel Wing Metals 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 expressly required by applicable securities law.
SOURCE Angel Wing Metals Inc.
For further information: ON BEHALF OF THE BOARD OF ANGEL WING METALS INC.: Marc Prefontaine, President & CEO, Email: mprefontaine @Mr. Bill-9375, Email: katherine@angelwingmetals.com
Ranchero Announces Execution of a Definitive Agreement Related to the Disposition of its Santa Daniela Property
https://ca.finance.yahoo.com/news/ranchero-announces-execution-definitive-agreement-123000453.html
Ranchero Gold Corp.
Thu, January 18, 2024 at 4:30 a.m. PST·4 min read
RNCH.V
0.00%
AGI.TO
+0.43%
AGI
+0.45%
VANCOUVER, British Columbia, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Ranchero Gold Corp. (“Ranchero” or the “Company”) (TSX.V:RNCH) is pleased to announce that further to its press release of December 27, 2023, its wholly-owned subsidiary Minera y Metalurgia Paika, S.A. de C.V. (“Paika”) has entered into a definitive agreement dated January 17, 2024 (the “Definitive Agreement”) with Minas de Oro Nacional, S.A. de C.V., a wholly-owned subsidiary of Alamos Gold Inc. (TSX:AGI) (“Alamos”), for the sale of Paika’s interest in four mineral licenses (the “Licenses”) comprising an area of 5,390 hectares of the Company’s Santa Daniela mineral property located in Sonora, Mexico. The Company intends to relinquish its interest in the remaining portions of the Santa Daniela property in order to eliminate holding costs (together with the sale of the Licenses, the “Disposition”). For further details of the Disposition, see the Company’s press release dated December 27, 2023.
The Disposition is subject to the approval of the TSX Venture Exchange (the “TSXV”) and the shareholders of the Company. In relation to the Disposition, Ranchero has convened a special meeting of its shareholders to be held on February 22, 2024, to seek shareholder approval for the Disposition. The Company has solicited voting support agreements from shareholders holding a total 44,483,247 common shares of the Company (each, a “Common Share”), or 67.67%, of the outstanding Common Shares, confirming their intention to vote in favor of the Disposition.
In connection with the Disposition, the Company has agreed, subject to the approval of the TSXV, to pay a finder’s fee to an arm’s length party to the Company and Alamos (the “Finder”), equal to 5% of the net proceeds or consideration received by the Company and Paika under the Definitive Agreement, being Cdn$333,300 (the “Finder’s Fee”). The Finder facilitated the introduction of the Company to Alamos and the discussions between the parties in negotiating the terms of the Disposition. The Finder’s Fee will be payable 50% in cash and 50% in Common Shares at a minimum price of Cdn$0.03 per Common Share for up to 5,555,000 Common Shares. The Finder’s Fee will be payable in stages based on the consideration received by Paika under the Definitive Agreement, with the first tranche payable once the cash payment in the amount of US$1,892,000 is received by Paika under the terms of the Definitive Agreement. The Common Shares issuable to the Finder will be subject to a four-month hold period from the date of issuance in accordance with applicable securities laws.
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 potential Disposition and the details and payment of the Finder’s Fee, including the completion of all conditions precedent to the sale of the Licenses and the potential relinquishment of the remaining portions of the Santa Daniela project.
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 and third-party approvals, inability to obtain shareholder 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 statement will prove to be accurate, and actual results and future events could differ materially from those anticipate 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.
Reyna Silver: AI-optimized Geophysics Highlights Drill Target at Guigui
https://www.accesswire.com/826873/ai-optimized-geophysics-highlights-drill-target-at-reyna-silvers-guigui
Monday, 22 January 2024 06:30
VANCOUVER, BC and HONG KONG / ACCESSWIRE / January 22, 2024 / Reyna Silver Corp. (TSXV:RSLV)(OTCQX:RSNVF)(FRA:4ZC) ("Reyna'' or the "Company") is pleased to share results from ExploreTech's Artificial Intelligence (AI) optimization of existing geophysical data from the Guigui Project in Chihuahua, Mexico. ExploreTech's proprietary AI algorithms highlight a strong, multi-layered magnetic anomaly southeast of the 0.5 sq. kilometre sulphide-mineralized skarn footprint identified in 2022 drilling (See Press Release from April 7, 2022). The results reinforce existing geological thinking that the intrusive source for the district lies in that area and greatly enhance the area's potential (Figure 2). Pads to drill the target are already permitted and accessible.
The Guigui Project covers the southern part of the Santa Eulalia District -one of the world's largest Carbonate Replacement Deposits ("CRDs") with over 500 Million ounces of historical silver production. Reyna's CRD exploration model indicates that the intrusive source and proximal mineralized skarn for the system remain to be found, and ExploreTech's AI approach to modeling the existing geophysics is specifically designed to augment surface-based geological work to locate that intrusive source beneath extensive, but thin, pre-mineral volcanic rock cover.
ExploreTech's platform first uses AI to identify and locate where a geophysical anomaly actually is and then design the optimum hole geometry to hit it. The first step searches a geophysical survey dataset and calculates thousands of possible explanations for anomalies measured at the surface (See exploretech.ai for additional information). For CRDs, the search focuses on solutions most likely to be caused by a source intrusion. This process generates thousands of candidate models that the program then evaluates in 3 dimensions to determine the optimal drilling trajectory to pierce as many of these potential intrusion-related anomalies as possible (See Figure 1).
ExploreTech's use of AI to reveal and reinforce target anomalies in existing geophysical datasets appears to be a significant new exploration tool and Reyna intends to apply it to the extensive existing datasets for its Gryphon Summit and Medicine Springs CRD projects in Nevada.
"We are delighted with the strength and coherence of the anomaly ExploreTech has modeled in the part of Guigui where we've been homing in on the source intrusion for the Santa Eulalia District, and we really look forward to drilling their optimized hole," said Jorge Ramiro Monroy CEO of Reyna Silver. "The results already make a compelling case to immediately apply their AI approach to our new geophysics (AMT) from Medicine Springs and the treasure trove of geophysics that we inherited with Gryphon."
"What really gets my attention, beyond the strength and coherence of the target generated by ExploreTech's cutting-edge AI approach to the geophysics, is the fact that it highlights a target that our Project Geologist, Rene Ramirez, has been championing for several years," said Dr. Peter Megaw, Chief Exploration Advisor to Reyna Silver. "Exploring through cover is not easy, so having this kind of tool to combine with boot-leather geology and sharpen our targeting at Guigui and our Nevada projects may be an important exploration advance across the board."
Figure 1. A 3D cross-section of the Magnetic Body in grey highlighted by ExploreTech's work underlying the Area of Interest identified southeast of the 2021 Drilling Program. The thin volcanic layer obscuring the Carbonate rocks (limestone) is in dark green. The optimized drill hole aims to intersect the highest percentage of the optimized geophysics layers possible.
Click here to watch video about the ExploreTech optimized Geophysics at Guigui.
Figure 2. Plan view of the Aeromag geophysics survey over the Guigui project (prior to the acquisition of La Chinche) with previous drillhole collars and downhole traces shown in dark grey. The magnetic feature in the Area of Interest showcases the sharp contrast between the conductive feature displayed in red and the surrounding resistive terrain in blue.
The ExploreTech partnership with Reyna Silver highlighted an area of interest, entirely covered by altered pre-mineral volcanics, lying southeast of the center of the previous drilling (See Press Release from April 7, 2022). Reyna had data from two previous geophysical surveys over the area, so applying ExploreTech's cutting-edge xFlare program to this blind target was an ideal opportunity to sharpen and de-risk the target (Figure 2). xFlare AI makes multiple model runs on the data, varying parameters between runs to generate a range of model solutions. These are then combined and the best-fitting models stack into clusters representing the tightest approximation of where the anomaly lies. Once this is accomplished, the program designs a drill hole that passes through the centers of as many of the individual anomalies as possible, again enhancing the ability to reliably test whatever feature is creating the anomaly (See Figure 1 and explainer video)
The result of this process at Guigui is a Magnetic anomaly lying 1000-1200m deep, 400-800m southeast of the 0.5 by 1.25 km area where previous drilling encountered sulfide-mineralized skarn (See Press Release from April 7, 2022). This is very close to where the previous drilling and our exploration model suggest a strong candidate for where the source intrusion should lie. The DrillerAPI subroutine of xFlare shows a high probability of intersecting the magnetic anomaly with a 1500m hole drilled from a previously permitted pad.
Application of ExploreTech Modeling to Nevada Properties
Reyna recently ran an aerial Magneto Telluric (MT) survey at Medicine Springs that revealed a conductive anomaly underlying the altered and silicified carbonates that yielded the strongest surface copper geochemical anomaly in the project area. This combination of anomalies is interpreted as reflecting a possible intrusive center hidden under alluvial cover just northeast of the reconnaissance drilling area (See Press Release from November 8, 2023). The parallels between the source intrusion targets at Guigui and Medicine Spring make applying ExploreTech's approach here a logical next step.
Reyna's Gryphon Summit Gold, Silver and critical metals project came with 39 kilometres of IP, 17 kilometres of CSAMT and NSAMT, gravimetric, hyperspectral, and lidar-like surveys. ExploreTech's capability to quickly process large datasets like these will enable Reyna Silver's technical team to optimize the incorporation of these geophysics datasets for its 2024 drilling program. The targets will focus on the intrusion-centered porphyry-CRD mineralization and the Carlin-type mineralization that previous work indicates overlap on the property (See Press Release November 29, 2023).
QUALIFIED PERSON
Dr. Peter Megaw, Ph.D., C.P.G., the Company's Chief Exploration Advisor and Qualified Person, reviewed the technical aspects of the exploration projects described herein and is responsible for the design and conduct of the exploration program and the verification and quality assurance of analytical results. Dr. Megaw is not independent as he and/or companies with which he is affiliated hold Net Smelter Royalties on the Guigui and Batopilas Projects that predate Reyna Silver acquiring them.
ABOUT REYNA SILVER
Reyna Silver Corp. (TSXV: RSLV) is a growth-oriented junior exploration and development company focused on exploring for high-grade, district-scale silver deposits in Mexico and USA.
Reyna's principal properties are the Guigui and Batopilas Properties in Chihuahua, Mexico. Guigui covers the interpreted source area for the Santa Eulalia District and Batopilas covers most of Mexico's historically highest-grade silver system. The Company also has an option to acquire 100% of the Medicine Springs property in Nevada, USA as well as the early stage La Durazno and Matilde and La Reyna mineral properties in Mexico.
Cautionary Statements
This document contains "forward-looking statements" within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration results and plans, and our other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. Such forward-looking statements include, without limitation, our estimates of exploration investment, the scope of our exploration programs, and our expectations of ongoing administrative costs. There can be no assurance that such statements will prove to be accurate, and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company's documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and we do not undertake any obligation to update forward-looking statements should conditions or our estimates or opinions change, except as required by law. Forward-looking statements are subject to risks, uncertainties and other factors, including risks associated with mineral exploration, price volatility in the mineral commodities we seek, and operational and political risks. Readers are cautioned not to place undue reliance on forward-looking statements.
SOURCE: Reyna Silver Corp.
Orla Mining Reports Positive Results of Layback and Oxide Extension Drilling at Camino Rojo Mine
https://www.newswire.ca/news-releases/orla-mining-reports-positive-results-of-layback-and-oxide-extension-drilling-at-camino-rojo-mine-879969440.html
Orla Mining Ltd. Jan 18, 2024, 06:00 ET
Targeting Additional Near Mine Oxide Ounces
VANCOUVER, BC, Jan. 18, 2024 /CNW/ - Orla Mining Ltd. (TSX: OLA) (NYSE: ORLA)
Aztec Drills Broad, Shallow Gold Mineralization Expanding the California Zone at the Cervantes Project, Sonora, Mexico; Including 1.03 gpT Au over 30.4m including High Grade Intersection of 13.8 gpT Au over 1.52m
https://www.accesswire.com/826017/aztec-drills-broad-shallow-gold-mineralization-expanding-the-california-zone-at-the-cervantes-project-sonora-mexico-including-103-gpt-au-over-304m-including-high-grade-intersection-of-138-gpt-au-over-152m
Thursday, 18 January 2024 05:00
The first three Reverse Circulation (RC) drill holes from California Zone all intersected broad oxidized gold mineralization close to surface
2023 Step out RC drilling program was designed to expand the California gold mineralization zone in multiple directions
Step out drilling is confirming and expanding the footprint of the California mineralized porphyry intrusive complex and within the adjacent sediments, both reporting additional multiple attractive high-grade gold intersections
The exploration program has been successful in discovering extensions and confirming the broad style of the gold mineralized California zone
VANCOUVER, BC / ACCESSWIRE / January 18, 2024 / Aztec Minerals Corp. (TSXV:AZT),(OTCQB:AZZTF)
Victoria Gold: Eagle Gold Mine Annual and Fourth Quarter 2023 Production Results
https://ca.finance.yahoo.com/news/victoria-gold-eagle-gold-mine-110000304.html
Victoria Gold Corp
Mon, January 15, 2024 at 3:00 a.m. PST·7 min read
VITFF
+0.6466%
WHITEHORSE, Yukon, Jan. 15, 2024 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX-VGCX)
Torex Gold Provides 2024 Operational Guidance and Updated Five-year Production Outlook
2024 is a pivotal year that sets up for strong continued production and future free cash flow from Morelos
https://www.newsfilecorp.com/release/194419
January 16, 2024 6:00 PM EST | Source: Torex Gold Resources Inc. (All amounts expressed in U.S. dollars unless otherwise stated)
Toronto, Ontario--(Newsfile Corp. - January 16, 2024) - Torex Gold Resources Inc. (the "Company" or "Torex") (TSX: TXG)
Avino’s Q4 and Full Year 2023 Production Results
https://www.accesswire.com/825004/avinos-q4-and-full-year-2023-production-results
Tuesday, 16 January 2024 06:45
VANCOUVER, BC / ACCESSWIRE / January 16, 2024 / Avino Silver & Gold Mines Ltd. (TSX:ASM)(NYSE American:ASM)(FSE:GV6)
IMPACT Silver Intersects 6.9 Meters with 10.22% Zinc, 5.43% Lead and 27.7 g/t Silver in First Drill Results at the Plomosas Mine
https://www.newsfilecorp.com/release/194576
January 17, 2024 6:30 AM EST | Source: IMPACT Silver Corp.
Vancouver, British Columbia--(Newsfile Corp. - January 17, 2024) - IMPACT Silver Corp. (TSXV: IPT) (OTCQB: ISVLF) (FSE: IKL
Silver Valley Metals Announces Positive Resolution of Issues Relating to its Mexi-Can Sulphate of Potash and Lithium Project; Exploration to Recommence
https://www.newsfilecorp.com/release/194366
January 16, 2024 8:00 AM EST | Source: Silver Valley Metals Corp.
Vancouver, British Columbia--(Newsfile Corp. - January 16, 2024) - Silver Valley Metals Corp. (TSXV: SILV) (OTCQB: SVMFF) ("Silver Valley" or the "Company"), a brownfield exploration company, is delighted to announce a favorable resolution of issues relating to its Mexi-Can Sulphate of Potash and Lithium Project ("the Mexico-Canada Project" or "Mexi-Can Project"). Concurrently, the Company is preparing to resume exploration activities in Mexico.
Background: Legislative Impact on Mexi-Can Project
In response to the significant legislative development on April 20, 2022, through the "Decree amending and adding various provisions of the Mining Law," (the "Lithium Decree") Silver Valley Metals Corp.'s Mexican subsidiary ("Silver Valley Mexico") took legal measures to safeguard its interests. The Decree marked a crucial structural reform in Mexico's lithium sector, leading to the creation of the company "Lithium for Mexico" ("LitioMx") and the declaration of lithium as a public utility and national heritage restricting the granting of new concessions, licenses, contracts, permits, or authorizations in this area.
Link to the full text of the Lithium Decree.
As a result of the Decree, Silver Valley Mexico filed two separate Indirect Amparos (an Amparo is defined as an extraordinary constitutional appeal, which may be filed in federal court, by Mexicans and by foreigners. It is often referred to as a "constitutional protection lawsuit") challenging specific articles of the Mining Law, as amended by the Lithium Decree, claiming violations of constitutional rights.
Silver Valley Mexico holds existing concessions in Mexico. With the recent results from the Supreme Court's decisions from the Amparos filed by Silver Valley Mexico, it is apparent that the Lithium Decree has not impacted the Company's concessions. The Court ruled that the Mining Law, as amended by the Lithium Decree, has not impacted the Company.
Several Articles of the Mining Law, as outlined in the Lithium Decree, specify the responsibilities and protections regarding lithium exploration, exploitation, beneficiation, and use. Notably, the legislation did not indicate any intention to cancel, suspend, withdraw, or extinguish rights acquired by mining companies in relation to lithium prior to the Lithium Decree.
Although it is true that the Lithium Decree, at first, did not establish anything in relation to the mining concessions granted before the entry into force of the Lithium Decree and in relation to the procedures that were in process, this situation was remedied by the subsequent reforms that the Mining Law underwent; specifically another such mining reform following the reform on lithium which was dated May 8, 2023, by the enactment of the "Decree amending, adding and revoking several provisions of the Mining Law, National Waters Law, Environmental Protection and Balance Law, and Wastes Management and Prevention Law" (the "Mining Law Decree"). The Mining Law Decree, clarified that existing concessions, including those held by Silver Valley Mexico, remain unaffected until their full expiration. The Company's concessions, with validity until 2059 and 2060, are legally protected, ensuring continuity.
Link to the full text of the May 8, 2023 Mining Law Decree.
The amendments to the Mining Law arised from the Mining Law Decree will have no legal impact until the full expiration of Silver Valley Mexico's mining concessions, since, as for the Lithium Decree , the loss of rights or the cancellation, suspension or termination of the concession titles, or of exploration activities, was not established, including the exploitation, or use, of lithium, with respect to rights previously granted and acquired by the concessionaires.
The current regulatory landscape indicates a dual legal regime for lithium operations in Mexico. Existing concessions are monitored by the Ministry of Economy, while post-reform exploration and exploitation will be overseen by the Mexican State through the state-owned entity "Lithium for Mexico," namely LitioMx.
Partnership Discussions with LitioMX
Despite a positive outcome from the recent Amparo decisions, coupled with the later enacted May 8, 2023 mining reform further supporting the Company's ownership, Silver Valley continued to actively consider a joint venture partnership with LitioMx. Silver Valley considered a partnership beneficial to all stakeholders', with the right deal in mind. However, after careful consideration, LitioMx recently decided to prioritize other Mexican projects. This decision aligns with Silver Valley's appreciation for LitioMx's focus on lithium-specific ventures, considering the Mexi-Can Project's significant sulphate of potash ("SOP") component.
Silver Valley appreciates LitioMx's support and remains open to future collaboration opportunities as the lithium landscape evolves. LitioMx shared the same sentiments with Silver Valley.
With the news of LitioMx voluntarily deciding to not participate in the development of the Mexi-Can Project and the positive news received from the Supreme Court of Mexico, Silver Valley is once again ready to move this exciting project forward.
Exploration Set to Recommence
With legal uncertainties resolved, Silver Valley is poised to recommence exploration activities at the Mexi-Can Project. Silver Valley remains committed to delivering updates on these activities in due course.
Link to Website: http://www.silvervalleymetals.com
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About: Silver Valley Metals:
Silver Valley Metals Corp. is a Canadian exploration company comprised of a group of experienced exploration, mining, and financing specialists focused on the pursuit of mineral discovery and development. We are focused on the advancement of strategic and precious mineral properties including Lithium-Potash in Mexico and Silver-Zinc-Lead in northern Idaho, USA.
About: Mexi-Can Sulphate of Potash and Lithium Project:
Silver Valley Metals Corp. owns a 100% interest in a lithium and potassium-bearing salar complex comprising 4,056 hectares on three mineral concessions ("the Mexico-Canada Project" or "Mexi-Can Project") located on the Central Mexican Plateau in the states of Zacatecas and San Luis Potosi, Mexico. The National Instrument 43-101 inferred mineral resource contains 12.3Mt of Sulfate of Potash (SOP) and 243,000 tonnes of lithium carbonate equivalent (LCE) defined only from surface to an average of 5 metres depth. The salars remain wide open in all directions for expansion.
About: Ranger-Page project:
The Ranger-Page Project ("The Project") is in the Silver Valley, northern Idaho, USA, 60 kilometers east of Coeur d'Alene and 1 kilometer from the I-90 freeway. In 2020 Idaho was ranked the first in the world in policy perception and 9th best mining jurisdiction (Fraser Institute Annual Mining Survey). The Project borders the famous Bunker Hill Mine to the east and, for the first time, consolidates the western extent of the prolific Silver Valley mining corridor by one operator in the past 100+ years.
The Project comprises six historical mines on patented claims, without royalties. The largest of these, the Page Mine, was a top ten producer in the Silver Valley yielding over 1.1 billion pounds of zinc and lead and 14.6 million ounces of silver. The Page Mine has high-grade silver-zinc-lead historic reserves and remains open at depth and along strike beyond what has been identified to date.
Historical mining on the properties has shared underground infrastructure from the larger Page mine to the Blackhawk mine. The Company has underground mining data and surface geological data that supports high-grade silver-zinc-lead mineralization present within the other shallow, undeveloped mines. These mines remain open at depth, and laterally along strike.
Exploration potential beyond the historic mines is considered significant as modern systematic exploration is being applied to the project for the first time.
On behalf of the Board of Directors of Silver Valley Metals,
"Brandon Rook"
Brandon Rook, President & CEO, Director
For further information please contact: 604-800-4710
Email: info@silvervalleymetals.com
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
SOURCE: Silver Valley Metals Corp.
Defiance Drills 33.76m of 217g/t AgEq and Encounters Increasing Cu Grades at San Acacio Project
https://www.newsfilecorp.com/release/194245
January 15, 2024 2:20 AM EST | Source: Defiance Silver Corp.
Vancouver, British Columbia--(Newsfile Corp. - January 15, 2024) - Defiance Silver Corp. (TSXV: DEF) (FSE: D4E) (WKN: A1JQW5
Endeavour Silver Provides 2024 Guidance; Production expected at 5.3 – 5.8 Million oz Silver and 34,000-38,000 oz Gold for 8.1- 8.8 Million oz Silver Equivalent ¹
https://ca.finance.yahoo.com/news/endeavour-silver-provides-2024-guidance-115000202.html
Endeavour Silver Corporation
Thu, January 11, 2024 at 3:50 a.m. PST·10 min read
EXK
+8.00%
VANCOUVER, British Columbia, Jan. 11, 2024 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR)
GoGold Provides Outlook for 2024, Parral Production and Update on Zinc Circuit Commissioning
https://www.prnewswire.com/news-releases/gogold-provides-outlook-for-2024-parral-production-and-update-on-zinc-circuit-commissioning-302030998.html
GoGold Resources Inc. 10 Jan, 2024, 07:00 ET
Shares Outstanding: 328,222,500
Trading Symbols: TSX: GGD
OTCQX: GLGDF
Gatos Silver Reports 2023 Silver Production Near Top End of Guidance
https://ca.finance.yahoo.com/news/gatos-silver-reports-2023-silver-211500455.html
Gatos Silver, Inc.
Tue, January 9, 2024 at 1:15 p.m. PST·7 min read
GATO
+5.93%
VANCOUVER, British Columbia, Jan. 09, 2024 (GLOBE NEWSWIRE) -- Gatos Silver, Inc. (NYSE/TSX: GATO)
Silver Tiger Provides 2023 Summary and 2024 Outlook
https://www.accesswire.com/822984/silver-tiger-provides-2023-summary-and-2024-outlook
Tuesday, 09 January 2024 07:00
HALIFAX, NS / ACCESSWIRE / January 9, 2024 / Silver Tiger Metals Inc. (TSXV:SLVR)(OTCQX:SLVTF) ("Silver Tiger", the "Company" or the "Corporation") is pleased to provide a year-end update for the 2023 year and a 2024 outlook for the Company.
Glenn Jessome, President and CEO stated "2023 was a transformational year at Silver Tiger as the Corporation made the transition from explorer to developer. We delivered an updated robust Mineral Resource Estimate for the El Tigre Project in September and followed that up with the Preliminary Economic Assessment in November with an NPV of $287 Million US dollars and an IRR of 56%. We now turn our attention to 2024. We currently have 4 drill rigs completing a 25,000 metre drill program. We expect to deliver our Prefeasibility Study and updated Mineral Resource Estimate during the second quarter. Our initial Preliminary Economic Assessment on the underground deposit is expected during the third quarter. In 2024, we will move our low cost highly profitable open pit towards a build decision and will deliver the first economic report for our significant underground resource. It is our belief that 2024 will be a year of value creation for our shareholders."
Key Objectives for 2024
With $20.1 million in cash on hand at September 30, 2023, we will complete the planned 25,000 meter drill program during the first half of 2024;
Deliver a Prefeasibility Study and an updated Mineral Resource Estimate during Q2-2024; and
Deliver a Preliminary Economic Assessment for the permitted underground resource during Q3-2024.
2023 Highlights
In February 2023, the Company closed an $18 million bought deal financing with a syndicate of underwriters led by BMO Capital Markets;
Completed 30,000 metres of diamond drilling;
Delivered an updated Mineral Resource Estimate for the El Tigre Project in September 2023 (see Corporation's press release dated September 18, 2023); and
Delivered a Preliminary Economic Assessment in November 2023 with an NPV of $287 million USD, an IRR of 56% and initial capital costs of $59 million USD (see Corporation's press release dated November 1, 2023).
On-Going Prefeasibility Study Program
The Prefeasibility Study program of the Open Pit at El Tigre Project is underway, on-time, and on-budget. The main objectives of the program include a Mineral Resource Update, geotechnical assessment of the proposed Preliminary Economic Assessment pit and enhanced metallurgical studies. The Prefeasibility Study Technical report is expected to be released in Q2-2024. In early 2023 P&E Mining Consultants Inc. of Toronto, Ontario completed the updated Mineral Resource Estimate and were again retained to complete a Prefeasibility Study-level Mineral Resource Estimate update to convert a portion of the Preliminary Economic Assessment-level Indicated to Measured Mineral Resource, as well as convert Preliminary Economic Assessment-level Inferred to Indicated Mineral Resource. The Corporation retained D.E.N.M. Engineering Ltd. ("DENM"), of Burlington, Ontario, for the Prefeasibility Study-level metallurgical test work. After a review of the Preliminary Economic Assessment-level metallurgical studies were completed, DENM recommended drilling six new PQ-sized metallurgical drill holes along a one-kilometre strike length of the designed Preliminary Economic Assessment open pit. The six metallurgical drill holes have been completed. DENM selected McClelland Laboratories Inc. of Sparks, Nevada to complete the independent Prefeasibility Study metallurgical testing of the gold and silver mineralization at the El Tigre Project. The Company retained Golder/WSP for the Prefeasibility Study-level open pit design criteria. After an extensive desktop review and site visit, Golder recommended drilling thirteen HQ-sized oriented core drill holes in the western and eastern slopes over a two-kilometre strike length of the designed Preliminary Economic Assessment open pit. These thirteen geotechnical drill holes have been completed. With four drill rigs operating on the property, we have already completed 85 of the drill holes or 15,009 metres of the drilling required for the Prefeasibility Study.
Underground Mineral Resource to Preliminary Economic Assessment - Q3-2024
The Corporation will also continue to work on this substantial underground Mineral Resource Estimate and advance this towards a Preliminary Economic Assessment by Q3-2024.The Indicated Out-of-Pit Mineral Resource at El Tigre is 21 Moz AgEq grading 279 g/t AgEq contained in 2.3 Mt and the Inferred Mineral Resource is 70 Moz AgEq grading 235 g/t AgEq contained in 9.2 Mt (Table 5). For higher grade sensitivity cases refer to the Corporation's updated MRE press release dated September 12, 2023.
Upcoming Mining Conference Attendance
Silver Tiger will be attending the Vancouver Resource Investment Conference (VRIC) on January 21 and 22, 2024 in Vancouver. Silver Tiger's CEO, Glenn Jessome, will be hosting a luncheon presentation at VRIC on Sunday, January 21st and will be a panelist on the Main Stage Silver Panel on Monday, January 22nd. Our booth number will be 429.
Silver Tiger will also be attending the BMO Global Metals, Mining and Critical Metals Conference from February 25 to February 28, 2024 in Hollywood, Florida.
Silver Tiger will also be attending PDAC in Toronto from March 3 to March 6, 2024. Our booth number will be 3206.
New Director Appointment
The Corporation is pleased to announce the appointment of Yleana Leal to the Board of Directors effective January 9, 2024. Yleana is currently VP, General Manager for Brown-Forman Mexico, she joined Brown-Forman, a public company that trades on the NYSE, in 2016 as Sales Director, Mexico, moved to the UK in 2019 as Sales Strategy Director, UK and Ireland and returned to Mexico as General Manager in 2023. Yleana is also President of the Board of Directors at CIVyL (Comisión para la Industria de Vinos y Licores A.C ). Prior to joining Brown-Forman, Yleana gained extensive sales experience in the consumer packaged goods industry at Grupo Bimbo, working in the USA, Mexico, Chile, and India. Yleana holds an MBA - Double Degree & Specialization in Global Business and Strategy from the University of North Carolina at Charlotte, completed an executive program in Global Competitiveness Leadership at Georgetown University-McDonough School of Business, and has a Bachelors Degree in International Business from Tecnológico de Monterrey. Yleana is also a visible and vocal champion on Diversity and Inclusion initiatives. This appointment is subject to the acceptance of the TSX Venture Exchange.
The Corporation also announces the resignation of Gabriella Eugenia Sepúlveda Elizondo as a Director effective January 9, 2024, as a result of her increased own personal business obligations that limit her availability to serve as a Director.
Stock Option and DSU Grant
On January 9, 2024, the Corporation granted 3,925,000 stock options at an exercise price of $0.17 with a term of 10 years and vesting over 2 years and 2,450,000 DSU's vesting over 3 years to directors, officers, employees and consultants of the Corporation, vesting over 3 years.
VRIFY Slide Deck and 3D Presentation - Silver Tiger's El Tigre Project
VRIFY is a platform being used by companies to communicate with investors using 360° virtual tours of remote mining assets, 3D models and interactive presentations. VRIFY can be accessed by website and with the VRIFY iOS and Android apps.
Access the Silver Tiger Metals Inc. Company Profile on VRIFY at: https://vrify.com
The VRIFY Slide Deck and 3D Presentation for Silver Tiger Metals Inc. can be viewed at: https://vrify.com/explore/decks/492 and on the Corporation's website at: www.silvertigermetals.com.
Qualified Persons
Dave Duncan P. Geo., VP Exploration of Silver Tiger, Charles Spath, P. Geo., VP of Technical Services of Silver Tiger, and Eugene Puritch, P.Eng., FEC, CET, President of P&E Mining Consultants are the Qualified Persons as defined under National Instrument 43-101. Mr. Duncan, Mr. Spath and Mr. Puritch have reviewed and approved the scientific and technical information in this press release.
About Silver Tiger and the El Tigre Historic Mine District
Silver Tiger Metals Inc. is a Canadian company whose management has more than 25 years' experience discovering, financing and building large epithermal silver projects in Mexico. Silver Tiger's 100% owned 28,414 hectare Historic El Tigre Mining District is located in Sonora, Mexico. Principled environmental, social and governance practices are core priorities at Silver Tiger.
The El Tigre historic mine district is located in Sonora, Mexico and lies at the northern end of the Sierra Madre silver and gold belt which hosts many epithermal silver and gold deposits, including Dolores, Santa Elena and Las Chispas at the northern end. In 1896, gold was first discovered on the property in the Gold Hill area and mining started with the Brown Shaft in 1903. The focus soon changed to mining high-grade silver veins in the area with production coming from 3 parallel veins the El Tigre Vein, the Seitz Kelley Vein and the Sooy Vein. Underground mining on the middle El Tigre Vein extended 1,450 metres along strike and was mined on 14 levels to a depth of approximately 450 metres. The Seitz Kelley Vein was mined along strike for 1 kilometre to a depth of approximately 200 metres. The Sooy Vein was only mined along strike for 250 metres to a depth of approximately 150 metres. Mining abruptly stopped on all 3 of these veins when the price of silver collapsed to less than 20¢ per ounce with the onset of the Great Depression. By the time the mine closed in 1930, it is reported to have produced a total of 353,000 ounces of gold and 67.4 million ounces of silver from 1.87 million tons (Craig, 2012). The average grade mined during this period was over 2 kilograms silver equivalent per ton.
For further information, please contact:
Glenn Jessome
President and CEO
902 492 0298
jessome@silvertigermetals.com
CAUTIONARY STATEMENT:
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 news release.
This News Release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, Mineral Resources and Reserves, the ability to convert Inferred Mineral Resources to Indicated Mineral Resources, the ability to complete future drilling programs and infill sampling, the ability to extend Mineral Resource blocks, the similarity of mineralization at El Tigre to Delores, Santa Elena and Chispas, exploration results, and future plans and objectives of Silver Tiger, are forward-looking statements that involve various risks and uncertainties. Forward-looking statements are frequently characterized by words such as "may", "is expected to", "anticipates", "estimates", "intends", "plans", "projection", "could", "vision", "goals", "objective" and "outlook" and other similar words. Although Silver Tiger believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Silver Tiger's expectations include risks and uncertainties related to exploration, development, operations, commodity prices and global financial volatility, risk and uncertainties of operating in a foreign jurisdiction as well as additional risks described from time to time in the filings made by Silver Tiger with securities regulators.
SOURCE: Silver Tiger Metals Inc.
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