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Barksdale Announces San Javier Preliminary Economic Assessment
https://www.newsfilecorp.com/release/208472
May 09, 2024 7:30 AM EDT | Source: Barksdale Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - May 9, 2024) - Barksdale Resources Corp. (TSXV: BRO) (OTCQX: BRKCF)
Torex Gold Reports Q1 2024 Results
On track to deliver on full-year production and cost guidance with funding surplus in-hand to complete the Media Luna Project
https://www.newsfilecorp.com/release/208382
May 08, 2024 6:00 PM EDT | Source: Torex Gold Resources Inc.
(All amounts expressed in U.S. dollars unless otherwise stated)
Toronto, Ontario--(Newsfile Corp. - May 8, 2024) - Torex Gold Resources Inc. (the "Company" or "Torex") (TSX: TXG)
VIZSLA SILVER REPORTS ADDITIONAL HIGH-GRADE INTERCEPTS AND REFINED INTERPRETATIONS AT LA LUISA
https://www.newswire.ca/news-releases/vizsla-silver-reports-additional-high-grade-intercepts-and-refined-interpretations-at-la-luisa-834117808.html
Vizsla Silver Corp. May 08, 2024, 07:00 ET
NYSE: VZLA TSX-V: VZLA
VANCOUVER, BC, May 8, 2024 /CNW/ - Vizsla Silver Corp. (TSXV: VZLA) (NYSE: VZLA) (Frankfurt: 0G3)
VIZSLA SILVER PROVIDES FURTHER UPDATE ON ACQUISITION OF LARGE CLAIM PACKAGE ALONG HIGHLY PROSPECTIVE STRUCTURAL TREND, SOUTH OF PANUCO
https://www.newswire.ca/news-releases/vizsla-silver-provides-further-update-on-acquisition-of-large-claim-package-along-highly-prospective-structural-trend-south-of-panuco-896247635.html
Vizsla Silver Corp. May 03, 2024, 19:00 ET
NYSE: VZLA TSX-V: VZLA
VANCOUVER, BC, May 3, 2024 /CNW/ - Vizsla Silver Corp. (TSXV: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) ("Vizsla Silver" or the "Company") is pleased to announce that it has now issued 448,137 common shares (the "Consideration Shares") for the previously announced asset purchase agreement (the "Acquisition Agreement") dated March 5, 2024, entered into with Inca Azteca Gold S.A.P.I. de C.V. (the "Seller") and the Company's wholly owned subsidiary, Minera Canam, S.A. de C.V. ("Minera Canam") pursuant to which the Company agreed to acquire, through Minera Canam, all of the Seller's right, title and interest in and to the mineral concessions (the "Acquisition").
The Company will acquire two large claims comprising 10,667.0 Ha (the "El Richard – San Enrique claims" or "San Enrique prospect") located south and partially adjacent to the Company's Panuco project (the "Panuco Project" or "Panuco"). The San Enrique prospect is situated along the highly prospective Panuco – San Dimas corridor and is covered 100% with LiDAR and partially covered with high-resolution aero-magnetic and radiometric surveys.
For full details on the Acquisition, please view the April 16, 2024, news release located on our website at https://vizslasilvercorp.com/news/2024/.
The Consideration Shares have been issued at a share price of C$1.97 for total consideration of C$882,830 (US$650,000). The Consideration Shares are subject to a four-month hold period pursuant to applicable Canadian securities laws and the Seller has agreed to voluntary resale restrictions, whereby 12.5% of the Consideration Shares will become free trading on the date that is four months and one day from the effective date and an additional 12.5% will become free trading every three months thereafter.
About the San Enrique prospect
The San Enrique prospect area is adjacent to the southern boundary of the Panuco project. The prospect comprises two titled mining claims covering 10,667.0 Ha (El Richard with 3,688.6 Ha and San Enrique with 6,978.4 Ha) in the emerging silver-gold-rich Panuco – San Dimas corridor with estimated past production plus current resources and reserves of 1.2-Boz Ag and 15-Moz Au.
The LiDAR and mag survey from the San Enrique prospect show strong NW-trending lineaments, indicative of regional faults and fractures. Two of these lineaments are aligned and seem to be the SE extensions of the Copala fault and the Cordon del Oro - Animas vein structures in Panuco. The main lithologies identified to date are predominantly rhyolite domes which produce strong magnetic anomalies in the north, and felsic flows and tuffs (rhyolites and dacites). Recent 40Ar/39Ar age dating on adularia separates from veins in Panuco project indicates that epithermal mineralization post dates felsic volcanism in the area. Additionally, preliminary recognizance mapping in the northeast has revealed the presence of andesite tuffs and flows, quartz veining and breccia structures. The Santa Fe mine is located three kilometres south of San Enrique, is owned and operated by Inca Azteca Gold and is a small scale mine producing high-grade silver and gold from a NW trending epithermal vein. This supports the hypothesis that the NW trending structures within San Enrique have the potential to host additional veins yet to be discovered.
The San Enrique prospect contains several indicators that suggest it is a highly prospective area, namely: location (Panuco – San Dimas corridor), high-grade deposits immediately north (Copala and Panuco), structural controls (southeast extensions of the Copala fault and Cordon - Animas lineament), domes and an operating mine to the south along another NW regional fault (Santa Fe mine, Inca Azteca).
Vizsla Silver is in the process of acquiring a multispectral World View III satellite image covering the whole Panuco and San Enrique claims to speed up the target generation process. Furthermore, the Company intends to conduct regional recognizance-mapping and a stream-sediment geochemical survey at San Enrique in the near future.
About the Panuco Project
The newly consolidated Panuco silver-gold project is an emerging high-grade discovery located in southern Sinaloa, Mexico, near the city of Mazatlán. The 17,856.5-hectare, past producing district benefits from over 86 kilometres of total vein extent, 35 kilometres of underground mines, roads, power, and permits.
The district contains intermediate to low sulfidation epithermal silver and gold deposits related to siliceous volcanism and crustal extension in the Oligocene and Miocene. Host rocks are mainly continental volcanic rocks correlated to the Tarahumara Formation.
On January 8, 2024, the Company announced an updated mineral resource estimate for Panuco which includes an estimated in-situ indicated mineral resource of 155.8 Moz AgEq and an in-situ inferred resource of 169.6 Moz AgEq.
About Vizsla Silver
Vizsla Silver is a Canadian mineral exploration and development company headquartered in Vancouver, BC, focused on advancing its flagship, 100%-owned Panuco silver-gold project located in Sinaloa, Mexico. To date, Vizsla Silver has completed over 350,000 metres of drilling at Panuco leading to the discovery of several new high-grade veins. For 2024, Vizsla Silver has budgeted +30,000 metres of resource/discovery-based drilling designed to upgrade and expand the mineral resource, as well as test other high priority targets across the district.
Qualified Person
In accordance with NI 43-101, Jesus Velador, Ph.D. MMSA QP., Vice President of Exploration, is the Qualified Person for the Company and has reviewed and approved the technical and scientific content of this news release.
Information Concerning Estimates of Mineral Resources
The scientific and technical information in this news release was prepared in accordance with NI 43-101 which differs significantly from the requirements of the U.S. Securities and Exchange Commission (the "SEC"). The terms "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" used herein are in reference to the mining terms defined in the Canadian Institute of Mining, Metallurgy and Petroleum Standards (the "CIM Definition Standards"), which definitions have been adopted by NI 43-101. Accordingly, information contained herein providing descriptions of our mineral deposits in accordance with NI 43-101 may not be comparable to similar information made public by other U.S. companies subject to the United States federal securities laws and the rules and regulations thereunder.
You are cautioned not to assume that any part or all of mineral resources will ever be converted into reserves. Pursuant to CIM Definition Standards, "inferred mineral resources" are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Such geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An inferred mineral resource has a lower level of confidence than that applying to an indicated mineral resource and must not be converted to a mineral reserve. However, it is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable. Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade without reference to unit measures.
Canadian standards, including the CIM Definition Standards and NI 43-101, differ significantly from standards in the SEC Industry Guide 7. Effective February 25, 2019, the SEC adopted new mining disclosure rules under subpart 1300 of Regulation S-K of the United States Securities Act of 1933, as amended (the "SEC Modernization Rules"), with compliance required for the first fiscal year beginning on or after January 1, 2021. The SEC Modernization Rules replace the historical property disclosure requirements included in SEC Industry Guide 7. As a result of the adoption of the SEC Modernization Rules, the SEC now recognizes estimates of "measured mineral resources", "indicated mineral resources" and "inferred mineral resources". Information regarding mineral resources contained or referenced herein may not be comparable to similar information made public by companies that report according to U.S. standards. While the SEC Modernization Rules are purported to be "substantially similar" to the CIM Definition Standards, readers are cautioned that there are differences between the SEC Modernization Rules and the CIM Definitions Standards. Accordingly, there is no assurance any mineral resources that the Company may report as "measured mineral resources", "indicated mineral resources" and "inferred mineral resources" under NI 43-101 would be the same had the Company prepared the resource estimates under the standards adopted under the SEC Modernization Rules.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things: the exploration, development, and production at the Panuco Project and the San Enrique prospect, including the potential acquisition of a multispectral World View III satellite image covering the whole Panuco and San Enrique claims and the conduct of regional recognizance-mapping and a stream-sediment geochemical survey at San Enrique.
Forward-looking statements and forward-looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Vizsla Silver, future growth potential for Vizsla Silver and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of silver, gold, and other metals; costs of exploration and development; the estimated costs of development of exploration projects; Vizsla Silver's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect Vizsla Silver's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and Vizsla Silver has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company's dependence on one mineral project; precious metals price volatility; risks associated with the conduct of the Company's mining activities in Mexico; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; risks regarding mineral resources and reserves; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities and artisanal miners; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption "Risk Factors" in Vizsla Silver's management discussion and analysis. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although Vizsla Silver has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. Vizsla Silver does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
SOURCE Vizsla Silver Corp.
For further information: For more information and to sign-up to the mailing list, please contact: Michael Konnert, President and Chief Executive Officer, Tel: (604) 364-2215, Email: info@vizslasilver.ca, Website: www.vizslasilvercorp.ca
GoGold Releases Q2 2024 Financial Results and Announces Changes to Board of Directors
https://www.newswire.ca/news-releases/gogold-releases-q2-2024-financial-results-and-announces-changes-to-board-of-directors-874397247.html
GoGold Resources Inc. May 08, 2024, 08:30 ET
Shares Outstanding: 328,612,319
Trading Symbols:TSX: GGD
OTCQX: GLGDF
Gatos Silver Reports First Quarter 2024 Results and Announces Investor Call
https://ca.finance.yahoo.com/news/gatos-silver-reports-first-quarter-202800986.html
Gatos Silver, Inc.
Mon, May 6, 2024 at 1:28 p.m. PDT·25 min read
GATO
+2.47%
VANCOUVER, British Columbia, May 06, 2024 (GLOBE NEWSWIRE) -- Gatos Silver, Inc. (NYSE/TSX: GATO)
Silver Storm Announces La Estrella Zone Drill Results
https://finance.yahoo.com/news/silver-storm-announces-la-estrella-113000748.html?_fsig=QFI6dSiB2nYMrJJrytGOjw--%7EA
Business Wire
Tue, May 7, 2024, 4:30 AM PDT
Kingsmen Resources Soledad North - Structure Carries High Grade Multi Elements
https://www.newsfilecorp.com/release/208111
May 06, 2024 8:30 AM EDT | Source: Kingsmen Resources Ltd
Vancouver, British Columbia--(Newsfile Corp. - May 6, 2024) - Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF)
Impact Silver Intersects 213 g/t Silver over 17.30m Including 1,400 g/t Silver over 0.75m on New Discovery at Guadalupe Mine
https://www.newsfilecorp.com/release/208098
May 06, 2024 7:30 AM EDT | Source: IMPACT Silver Corp.
Vancouver, British Columbia--(Newsfile Corp. - May 6, 2024) - IMPACT Silver Corp. (TSXV: IPT) (OTCQB: ISVLF) (FSE: IKL)
Torex Gold Provides Q1 2024 Update on Media Luna Project
Project remains on schedule with 95% of upfront expenditures now committed
https://www.newsfilecorp.com/release/207416
April 30, 2024 6:00 PM EDT | Source: Torex Gold Resources Inc.
(All amounts expressed in U.S. dollars unless otherwise stated)
Toronto, Ontario--(Newsfile Corp. - April 30, 2024) - Torex Gold Resources Inc. (the "Company" or "Torex") (TSX: TXG)
Silver Tiger Intersects 32.0 Meters of 1.36 G/T Gold Equivalent Within 81.1 Meters of 0.94 G/T Gold Equivalent in the Stockwork Zone
https://www.accesswire.com/857961/silver-tiger-intersects-320-meters-of-136-gt-gold-equivalent-within-811-meters-of-094-gt-gold-equivalent-in-the-stockwork-zone
Tuesday, 30 April 2024 07:00 AM
HALIFAX, NS / ACCESSWIRE / April 30, 2024 / Silver Tiger Metals Inc. (TSXV:SLVR)(OTCQX:SLVTF)
GR Silver Mining Enhances Financial Position Through Marlin Gold Disposition
https://www.newswire.ca/news-releases/gr-silver-mining-enhances-financial-position-through-marlin-gold-disposition-892730428.html
GR Silver Mining Ltd. Apr 29, 2024, 09:47 ET
VANCOUVER, BC, April 29, 2024 /CNW/ - GR Silver Mining Ltd. ("GR Silver Mining" or the "Company") (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – is pleased to announce that the Company and WP Servicios Industriales S.A. de C.V. ("WP") have signed on April 28, 2024, a definitive and binding Share Purchase Agreement (the "Agreement") pursuant to which WP will acquire 100% of the issued and outstanding shares of Marlin Gold Mining Ltd. ("Marlin") from GR Silver Mining. WP is a private Mexican mining company that operates newly acquired gold, silver, lead, and copper mines and a refinery, and conducts mineral trading in Mexico. Marlin is a private British Columbia company, 100% owned by GR Silver Mining. Marlin owns, amongst other assets, Oro Gold de Mexico, S.A. de C.V. ("Oro Gold"), a private Mexican company that owns 100% of nine non-core concessions ("Other Concessions"), including the past producing La Trinidad mine, located adjacent to GR Silver Mining's core Plomosas Project.
Figure 1: GR Silver Mining Plomosas Project mining concessions, Sinaloa, Mexico. (CNW Group/GR Silver Mining Ltd.)
Plomosas Project (CNW Group/GR Silver Mining Ltd.)
Figure 2: San Marcial Area Geology. Note the Ag anomalies along the target contact to the southeast. (CNW Group/GR Silver Mining Ltd.)
Figure 3: San Marcial Longitudinal Section C-C’, View Southwest (CNW Group/GR Silver Mining Ltd.)
Pursuant to the Agreement, GR Silver Mining will transfer to WP all existing assets and rights, as well as all outstanding undertakings, covenants, indemnities and obligations, of Marlin and its subsidiaries, including Oro Gold, in consideration for which GR Silver Mining will receive a 0.5% NSR Royalty on the Other Concessions owned by Oro Gold (as shown in Figure 1) and a 10-year first right of refusal on any disposition of Other Concessions by WP. The transaction is expected to close within one month.
The disposition of Marlin and its subsidiaries allows GR Silver Mining to focus on resource growth and the potential development of the Company's core Plomosas Project (78 km2) (as shown in Figure 1), including the San Marcial, Plomosas Mine, and San Juan Areas. In addition, the Company continues to hold several non-core concessions (270 km2) (as shown in Figure 1)
CEO and Chair of GR Silver Mining, Eric Zaunscherb, commented, "We are pleased that the Agreement with WP will allow the Company to strengthen its financial position and enhance the Company's balance sheet, allowing it to focus on the recently announced bulk sampling test mining program (news release dated March 4), as well as position it to resume resource drilling in the San Marcial area. The Agreement eliminates most of the Company's working capital deficit without diminishing its resource inventory. GR Silver Mining's geological team has done an excellent job growing the Plomosas Project resource estimate significantly and cost effectively. The team has demonstrated the exploration model's efficacy with an exceptional hit rate, and we continue to be excited by the project's potential for further resource growth." José Sierra, WP's Mining Division CEO, added, "With the closing of this transaction, WP will be operating in proximity to GR Silver's Plomosas Project, and we look forward to potential cooperation with GR Silver in the region."
As outlined in Tables 1 and 2, the Plomosas Project, including the San Marcial – Plomosas Mine - San Juan/La Colorada areas, hosts 55 million ounces of silver or 85 million ounces of silver equivalent in the Indicated category, and 22 million ounces silver or 45 million ounces of silver equivalent in the Inferred category. The full technical report dated May 3rd, 2023, with an effective date of March 15th, 2023, is entitled "Technical Report and Mineral Resource Update for the Plomosas Project". The report was prepared for GR Silver Mining Ltd. by Dr. Gilles Arseneau, P.Geo. of ARSENEAU Consulting Services Inc. and can be found under the Company issuer profile at SEDAR+.
In management's view, the San Marcial area represents an important focus for exploration given its silver-dominant mineralization (46 million ounces of silver in the Indicated Category and 14 million ounces of silver in the Inferred category), scalability, significant widths, and shallow depths (Figures 2 and 3). Simultaneously, management intends to advance technical studies and permitting for San Marcial's potential development.
Qualified Person
The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is Marcio Fonseca, P. Geo., President & COO for GR Silver Mining, who has reviewed and approved its contents.
About GR Silver Mining Ltd.
GR Silver Mining is a Canadian-based, Mexico-focused junior mineral exploration company engaged in cost effective silver-gold resource expansion on its 100%-owned assets, located on the eastern edge of the Rosario Mining District, in the southeast of Sinaloa State, Mexico. GR Silver Mining controls 100% of the former Plomosas underground mine within the Plomosas Project, which includes the integrated San Marcial Area. In conjunction with a portfolio of early to advanced stage exploration targets, the Company holds 78 km2 of highly prospective core concessions and an additional 270 km2 of non-core concessions.
GR Silver Mining Ltd.
Eric Zaunscherb, Chair & CEO
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
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 press release.
SOURCE GR Silver Mining Ltd.
For further information: Eric Zaunscherb, Telephone: +1.647.293.8457, Email: eric@grsilvermining.com
LUCA REPORTS SUCCESSFUL METALLURGICAL TEST WORK FOR NEW COPPER CONCENTRATE AT CAMPO MORADO
https://www.prnewswire.com/news-releases/luca-reports-successful-metallurgical-test-work-for-new-copper-concentrate-at-campo-morado-302134714.html
Luca Mining Corp. May 02, 2024, 11:19 ET
VANCOUVER, BC, May 2, 2024 /PRNewswire/ - Luca Mining Corp. ("Luca" or the "Company") (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) is pleased to report that the metallurgical test work on the copper-lead separation process at Campo Morado has been successfully completed. The test work was primarily carried out by ALS-Kamloops and in parallel with Luca's onsite lab. Currently, two concentrates are produced, namely, zinc and a bulk concentrate (made up of copper-lead-gold and silver). The result from the metallurgical testing provides confirmation to move forward with the Company's objective to produce three separate, higher value concentrates: copper (with precious metals), zinc and lead.
The Company has established a successful track record of identifying, testing, and implementing ongoing improvements at Campo Morado:
The ALS test work has provided a pathway to a copper-lead separation process that can be implemented at Campo Morado by re-configuring existing plant equipment.
Open circuit, bulk rougher results returned copper recovery of between 80 and 93%.
Testing indicates that copper grades as high as 28% Cu are achievable compared to current grades of 15-18% Cu in the bulk concentrate.
The separation results in the lab have been positive with improved grades of gold and silver in the copper concentrate. The work has shown that there is additional upside, and development of a new flowsheet and reagent optimization program has already begun.
Ramon Perez, President, and interim CEO, commented, "A key milestone we have stated for Luca is to increase cash flow at Campo Morado by producing three high-quality concentrates of copper, zinc, and lead, instead of two concentrates (zinc and a bulk concentrate). Given the results from ALS, we are moving forward to implement the copper-lead separation process and are on track to deliver results in 2H 2024. We are also pleased with the potential of improved grades of gold and silver into the concentrate."
Copper-Lead Separation
The copper concentration test work was conducted at ALS, utilizing parent samples sourced from each ore body in the production plan. A composite blend was formulated from these parent composites. The tests conducted were bench-scale open circuit flotation tests. A flowsheet was developed utilizing the pre-flotation and bulk roughing circuits in operation in the Campo Morado plant.
Understanding the mineralogy and the mineral associations has been a critical part of the test work to date. The test work results have guided modifications to the plant, identifying grinding target size and predicting flotation performance. Campo Morado already has sufficient installed grinding capacity that will be utilized to meet target throughput and adequate liberation of copper and lead minerals to achieve the objective of producing three salable concentrates of copper, zinc, and lead concentrates in H2 2024.
Open circuit, bulk rougher results returned copper recovery of between 80 and 93%. The testing indicates improvements to overall recovery and concentrate grades as high as 28% Cu are achievable.
Precious Metal Recovery
The test work has shown that gold and silver behave similar to galena and chalcopyrite in the flotation process with preferential recovery to the copper and lead concentrates. Gold recovery of between 35% and 65% was achieved in open circuit copper rougher circuit testing, depending on ore body mineralogy. The key conclusion is that increasing copper and lead recovery will increase the recovery of gold and silver.
Campo Morado Optimization Plan
In conjunction with Ausenco, formally kicked-off the optimization project, internally called the Campo Morado Improvement Project (CMIP). The CMIP incorporated opportunities identified between the mine and mill. Mine planning, modelling, ore blending, metallurgy, reagent dosing and modernization were all incorporated into the CMIP. The metallurgy program with the external lab (ALS) provided a training opportunity for site metallurgists while at the same time confirming the expected benefits from the project and improving knowledge of the ore body. The metallurgical test work focused on future mining areas to improve both short-range and long-range planning and used to develop an integrated mine-to-mill production plan. In addition, new procedures for ore blending and optimized reagent dosing for improved recoveries were rolled out at site. For the past 6 months equipment upgrades for the mine and mill have been implemented in phases and are ongoing. The result of these changes includes higher metallurgical recoveries and concentrate grades, particularly for copper in the bulk concentrate where recovery increased from less than 48% at the beginning of the year to over 70% by year end, a 69% increase during Q4 2023.
Investor Relations Agreement
The Company has entered into an agreement with Triomphe Holdings Ltd. (dba Capital Analytica) ("Capital Analytica") for investor relations and communication services (the "Consulting Agreement"). The Consulting Agreement has an initial term of six months, commencing May 1, 2024, under which the Company will pay to Capital Analytica an aggregate of $120,000 at a rate of $20,000 per month, and has an option to renew the Consulting Agreement for an additional 6 months at a rate of $10,000 per month, unless terminated earlier in accordance with the Consulting Agreement. The Company has granted Capital Analytica incentive stock options to purchase 200,000 common shares at an exercise price of $.45 per share for a period of 2 years. The stock options will be subject to standard IR vesting provisions.
Pursuant to the terms of the Consulting Agreement, Capital Analytica will provide ongoing capital markets consultation, ongoing social media consultation regarding engagement and enhancement, social sentiment reporting, social engagement reporting, discussion forum monitoring and reporting, corporate video dissemination, and other related investor relations services.
Capital Analytica is a Nanaimo based company owned and operated by Jeff French who is arm's length to the Company and holds no securities, directly or indirectly of the Company.
For more information, please visit: www.lucamining.com
On Behalf of the Board of Directors
(signed) "Ramon Perez"
Ramon Perez
President and Interim CEO
Qualified Persons
The technical information contained in this News Release has been reviewed and approved by Mr. Chris Richings, Vice-President Technical at Luca Mining as the Qualified Person for the Company as defined in National Instrument 43-101.
Cautionary Note Regarding Production Decisions and Forward-Looking Statements
It should be noted that Luca declared commercial production at Campo Morado prior to completing a feasibility study of mineral reserves demonstrating economic and technical viability. Accordingly, readers should be cautioned that Luca's production decision has been made without a comprehensive feasibility study of established reserves such that there is greater risk and uncertainty as to future economic results from the Campo Morado mine and a higher technical risk of failure than would be the case if a feasibility study were completed and relied upon to make a production decision. Luca has completed a preliminary economic assessment ("PEA") mining study on the Campo Morado mine that provides a conceptual life of mine plan and a preliminary economic analysis based on the previously identified mineral resources (see news releases dated November 8, 2017, and April 4, 2018).
Positive operating cash flow is defined as excluding capital, debt repayment and Trafigura financing.
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities laws. Forward Looking Information includes, but is not limited to, disclosure regarding the planned program to improve mining operations at Campo Morado; and other possible events, conditions or financial performance that are based on assumptions about future economic conditions and courses of action; the timing and costs of future activities on the Company's properties, such as production rates and increases; success of exploration, development and bulk sample processing activities, and timing for processing at its own mineral processing facility on the Tahuehueto project site. In certain cases, Forward-Looking Information can be identified using words and phrases such as "plans," "expects," "scheduled," "estimates," "forecasts," "intends," "anticipates" or variations of such words and phrases. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, that the current exploration, development, environmental and other objectives concerning the Campo Morado Mine and the Tahuehueto Project can be achieved; that the program to improve mining operations at Campo Morado will proceed as planned; the continuity of the price of gold and other metals, economic and political conditions, and operations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Luca Mining Corp.
LUCA REPORTS STRONG Q4 2023 AND ANNUAL FINANCIAL RESULTS
https://www.newswire.ca/news-releases/luca-reports-strong-q4-2023-and-annual-financial-results-841475434.html
Luca Mining Corp. Apr 30, 2024, 07:00 ET
VANCOUVER, BC, April 30, 2024 /CNW/ - Luca Mining Corp. ("Luca" or the "Company") (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68)
Minera Alamos Provides Update on Cobre 4H and Copper Assets
https://www.newsfilecorp.com/release/207877
May 03, 2024 7:02 AM EDT | Source: Minera Alamos Inc.
Toronto, Ontario--(Newsfile Corp. - May 3, 2024) - Minera Alamos Inc. (TSXV: MAI)
Quetzal Copper Samples 3.8 M of 2.4% Copper Associated with EM Geophysical Target Extending to 350M Depth at Cristinas Project
https://www.newsfilecorp.com/release/206907
April 26, 2024 7:00 AM EDT | Source: Quetzal Copper Limited
Highlights:
Surface rock chip channel sample returns 3.8m of 2.4% Copper and 162 g/t Silver at the Cristinas mine target.
Geophysical survey over the mine target area shows a conductor associated with mineralization that extends, untested, to at least 350m depth beneath historic shallow drilling.
A second conductor in the hanging wall of the mine target adds an additional drill target.
Drilling commencing in May 2024 to test open copper intercepts and geophysical targets at the Cristinas project.
Vancouver, British Columbia--(Newsfile Corp. - April 26, 2024) - Quetzal Copper Corp. (TSXV: Q)
Minera Alamos 2024 Outlook and 2023 Year End Financials
https://www.newsfilecorp.com/release/207383
April 30, 2024 7:00 AM EDT | Source: Minera Alamos Inc.
Toronto, Ontario--(Newsfile Corp. - April 30, 2024) - Minera Alamos Inc. (TSXV: MAI) (the "Company" or "Minera Alamos") is pleased to provide selected financial and operational highlights from its 2023 Annual Financial Statements and MD&A filed on Sedarplus on April 29th, 2024.
"As was outlined early in 2023, production at Santana was slowed temporarily while the Company awaited some permit modifications to expand operations in an efficient manner. While production was reduced, site preparation work including the conclusion of pre-stripping activities in advance of a transition to the Nicho Main deposit. An updated development plan for the project which was completed late in 2023 has now been initiated and includes increased mining and stacking activities in 2024/25 as was outlined in February this year. Decisions made through the temporary reduction in operations allowed the Company to maintain a strong overall financial position that can support activities planned for this year," stated Darren Koningen, CEO of Minera Alamos. "Going forward the operations team aims to return the site to a more normal operations plan and continue site evaluations aimed at future growth and development for the project. Notwithstanding the primary focus of Minera on its core gold production and development assets, we are also very excited at the prospect of establishing a new copper focused corporate entity now that we have concluded the recent acquisition of the Suaqui Verde copper project. We see Suaqui Verde as having the potential for a low Capex development profile which complements our existing Los Verdes copper-molybdenum deposit and provides sufficient scope for us to consider the development of an independent copper development company. Such a structure provides our existing shareholders with equity exposure in a new copper focused company at a time when such advanced copper assets are increasingly difficult to find."
2024 Operational Outlook
At Santana, the Company has completed plans to optimize the use of existing installed leach pad capacity to boost production on a go forward basis. As outlined in a February 22nd release, these plans involve mining and stacking of approximately 25,000 oz of gold over a 12-month period that will commence in May 2024 and should see a significant improvement in gold production relative to 2023 levels beginning in Q3 and extending through to into 2025 before an expected normalizing of operations at Santana thereafter.
Following the conclusion of planning with the Company's existing mine contractor, their operating fleet and infrastructure has been updated (mining and crushing) to suit the current mine plans for the Nicho Main pit. Blasthole drilling is underway with mining operations to follow.
The Cerro de Oro project permitting process continues with the Company supporting its permit consultants with any follow-up requests from the permit authorities.
Engineering work continues to progress for Cerro de Oro in order to advance pre-development activities to coincide with the ultimate receipt of permits and a construction decision for the project. Included in 2024 will be further metallurgical optimization studies, detailed engineering design and additional exploration drilling aimed at filling in and potentially expanding the areas of know mineralization (as outlined in Cerro de Oro PEA report dated October 3rd, 2022)
The recent acquisition of the Suaqui Verde copper project will allow the Company to start a series of internal engineering studies aimed at the best path(s) for the development of a regional copper developer/producer focused on low capital intensity copper projects. The combination of Los Verdes, Poteritos and Suaqui Verde allows for further consolidation of similar type assets that could form a regional copper production "hub" in the area where the Company already maintains a significant presence.
The Company continues to advance discussions regarding additional project opportunities that would complement its existing gold production portfolio. Particular emphasis remains on late-stage development projects where the Company's experienced technical team can find creative opportunities to fast-track a path to production and reduce overall CAPEX requirements.
Operational Highlights (2023)
At Santana, as the year commenced, priority was given to waste removal ahead of a transition to mining activities at the Nicho Main zone. Mining was limited to the completion of the Nicho Norte starter pit in anticipation of the opening up of the Nicho Main pit (see news releases dated Feb 22nd, 2024 and April 16th, 2024)
Total gold sold in 2023 was 5,041 ounces from the Santana Project with inventory on the leach pad of an additional 5,944 ounces as at December 31st, 2023.
In Q1-2023, the Company announced a program aimed to extract value from its existing copper assets, Los Verdes/Potreritos which had been the subject of significant activity prior to the acquisition of La Fortuna and the construction of the Santana gold project. As part of these efforts, the Company embarked on a number of project reviews of assets which could be complementary to the development of the Los Verdes/Potreritos deposits. This concluded with the acquisition of the Suaqui Verde copper project (see notes in section above)
Final documentation was submitted to the relevant government agencies to formally proceed with the Cerro de Oro permitting process.
In August, an additional US$800,000 property option payment was made toward full ownership of the Cerro de Oro gold project. The final remaining payment of US$1,000,000 is due in August 2024 and the Cerro de Oro project earn-in will have been completed.
The Company released its Maiden Resource Estimate for the Santana project, a first iteration of the project's ultimate gold potential and an important step in highlighting the main Nicho zone resources that are scheduled to be developed in 2024. Total Measured and Indicated resources were 9,610,000 t grading 0.65 g/t gold for a contained 198,000 oz. In addition, Inferred resources were 5,510,000 t grading 0.58 g/t gold for an additional contained 103,000 oz. This initial resource is sufficient to support the coming years of mine operations at Santana.
In October, a US$25 million funding package was completed with Auramet International Inc. and Auramet Capital Partners LP, for the construction of the planned Cerro de Oro gold mine, comprising a US$15M loan and a US$10M royalty (2.75% with the ability to buy back 2%). The Company completed an initial draw-down of USD$5M under the loan facility to be used for detailed engineering, exploration purposes, property holding costs and deposits on long lead time items for the Cerro de Oro project.
In December, operational planning was updated to reconfigure the existing pad capacity at the Santana mine to allow for an improvement in operational performance in 2024/2025 while final project permit amendments were concluded.
Selected Financial Data:
The following selected financial data is summarized from the Company's audited Financial Statements and related notes thereto (the "Annual Financial Statements') for the year ended December 31st, 2023, and the Management's Discussion and Analysis ("MD&A") for the year ended December 31st, 2023 (all numbers in Canadian dollars unless otherwise stated). A copy of the Financial Statements and MD&A is available on Sedarplus at www.sedarplus.ca.
Operationally, revenues (not factoring deferred revenue) totalled $13,419,899 with cost of goods sold and depletion amounting to $12,930,025 for gross mine profit of $489,874. Unit costs for the year ended significantly higher than previous periods due to the fixed costs of operations being spread over fewer ounces but remained modestly positive.
Net loss of $2,855,552 for the year of $0.006/share compared to a net profit of $5,609,393 in 2022. The net loss was largely attributed to the temporary reduction in gold production in 2023 as well as the option payment for Cerro de Oro and an increase in professional fees which were higher due to the engagement of permitting consultants. In addition, the Company incurred more evaluation expense in 2023 reviewing potential opportunities.
Cash and Cash Equivalents of $13,754,272 compared to $13,153,828 as at December 31st, 2022. Subsequent to December 31st, 2023 year-end, the Company received an additional 28,138,000 Mexican pesos ($2,239,000) of sales tax (IVA) from the Government of Mexico.
Working capital as of December 31st, 2023 stood at $19,968,100 compared to $18,284,236 as at December 31st, 2022
Cautionary Statement
The Company made its production decision at the Santana gold mine without having completed a feasibility study demonstrating economic and technical viability. As such, there may be increased uncertainty of achieving planned production levels, estimated recovery of gold, the costs associated with such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure.
Mr. Darren Koningen, P. Eng., Minera Alamos' CEO, is the Qualified Person responsible for the technical content of this press release under National Instrument 43-101.
For Further Information Please Contact:
Minera Alamos Inc.
Doug Ramshaw, President
Tel: 604-600-4423
Email: dramshaw@mineraalamos.com
Victoria Vargas de Szarzynski, VP Investor Relations
Tel: 289-242-3599
Email: vvargas@mineraalamos.com
Website: www.mineraalamos.com
About Minera Alamos Inc.
Minera Alamos is a gold production and development Company undergoing the operational startup of its first gold mine that produced its first gold in October 2021. The Company has a portfolio of high-quality Mexican assets, including the 100%-owned Santana open-pit, heap-leach mine in Sonora that is currently going through its operational ramp up. The 100%-owned Cerro de Oro oxide gold project in northern Zacatecas has considerable past drilling and metallurgical work completed and has entered the permitting process. The La Fortuna open pit gold project in Durango (100%-owned) has a robust and positive preliminary economic assessment (PEA) completed and the main Federal permits in place. Minera Alamos is built around its successful operating team that together brought three mines into production in Mexico over the last 13 years.
The Company's strategy is to develop very low CAPEX assets while expanding the projects' resources and continuing to pursue complementary strategic acquisitions.
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking information and Minera Alamos cautions readers that forward-looking information is based on certain assumptions and risk factors that could cause actual results to differ materially from the expectations of Minera Alamos included in this news release. This news release includes certain "forward-looking statements", which often, but not always, can be identified by the use of words such as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". These statements are based on information currently available to Minera Alamos and Minera Alamos provides no assurance that actual results will meet management's expectations. Forward-Looking statements include estimates and statements with respect to Minera Alamos' future plans with respect to the Projects, objectives or goals, to the effect that Minera Alamos or management expects a stated condition or result to occur and the expected timing for release of a resource and reserve estimate on the projects. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, the economics of processing methods, project development, reclamation and capital costs of Minera Alamos' mineral properties, the ability to complete a preliminary economic assessment which supports the technical and economic viability of mineral production could differ materially from those currently anticipated in such statements for many reasons. Minera Alamos' financial condition and prospects could differ materially from those currently anticipated in such statements for many reasons such as: an inability to finance and/or complete an updated resource and reserve estimate and a preliminary economic assessment which supports the technical and economic viability of mineral production; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Minera Alamos' activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Minera Alamos' forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Minera Alamos' forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
The Company does not have a feasibility study of mineral reserves, demonstrating economic and technical viability for the Santana project, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. Failure to commence production would have a material adverse impact on the Company's ability to generate revenue and cash flow to fund operations.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE: Minera Alamos Inc.
Minera Alomos' Copper Subsidiary Acquires Suaqui Verde Copper Project in Sonora, Mexico
https://www.newsfilecorp.com/release/206958
April 26, 2024 9:26 AM EDT | Source: Minera Alamos Inc.
Toronto, Ontario--(Newsfile Corp. - April 26, 2024) - Minera Alamos Inc. (TSXV: MAI) (the "Company" or "Minera Alamos") is pleased to announce the execution of merger agreements between Minera's Mexican subsidiary, Cobre 4H de Sonora de Mexico ("Cobre"), and Minera Gold Copper de Sonora, S. DE R.L. de C.C ("Minera Gold Copper") an arms-length Mexican company. Pursuant to the agreements, share ownership in the Cobre subsidiary will be divided between Minera Alamos (50%) and the existing shareholders of Minera Gold Copper (50%). The combined subsidiary will now own Minera's Los Verdes and Potreritos copper projects as well as Minera Gold Copper's Suaqui Verde copper project as well as certain rights to additional surrounding claims associated with the Suaqui Verde copper district.
The acquisition of the Suaqui Verde project complements the Company's Los Verdes and Potreritos copper projects and is a key project in a pipeline of low capital intensity copper development assets that have the potential to form a regional copper production "hub." Ultimately this merger will form the basis of a new copper company initially incubated and funded at the subsidiary level, with the potential to become a public, independently run copper development and production entity.
Highlights of Acquisition (update)
Suaqui Verde is a classic porphyry copper deposit that is widely exposed at the topographic surface and has a deeply oxidized zone of copper mineralization (drilled to in excess of 300m) resulting from surface waters moving to depth along prominent local shear zones. The underlying copper sulphide portion of the deposit is largely untested.
The project is located in southern Sonora within the Arizona-Sonora porphyry belt of Laramide aged copper systems which includes numerous operating and historic large scale copper mining operations.
Located approximately 50km west of Minera's existing Santana gold mine and Los Verdes copper project, the site has excellent road access, available grid power and proximity to existing Minera personnel and infrastructure.
The Suaqui Verde project has been the subject of numerous drill campaigns since the early 1990s, totalling approximately 100 drill holes. The focus of the historic exploration activities has primarily been the higher grade central core of the known copper oxide mineralized area (approximately 1km wide by 2-3km in length) and in the upper zones of oxide and transition mineralization.
A number of historical resource calculations exist for the Suaqui project, including internal review reports done in 2000 by two different companies that indicated copper oxide resources of approximately 50-60 Mt grading approximately 0.28-0.3% copper with a large halo of surrounding geological potential nearing 200 Mt at a slightly lower grade of approximately 0.25% (as described in Suaqui Project notes below). Minera intends to consolidate the historical exploration work into a new current Mineral Resource Statement.
Historical metallurgical work and engineering studies support the idea of developing Suaqui Verde as a traditional low capital intensity, open-pit/SX-EW (solvent extraction-electrowinning) copper project that would produce salable copper metal cathode at site.
The Company is not treating any historical estimates described in this release as current and the Company's QP has not completed sufficient work to classify these historical estimates as current mineral resources. None of the historic resources described in this release are NI43-101 compliant and should not be treated as such. While the Company is not treating these historical estimates as current resources, it does believe the reference work is reliable and the information may be of assistance to readers. The Company intends to commence work on a new resource estimate for the Suaqui Verde project including a data review to determine what is required to fully update the historical mineral resources to a current standard.
Photo 1 - View of mineralized alteration surrounding Suaqui Verde Project with dumps from old workings in foreground
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4183/206958_e377808c140d0851_002full.jpg
"Suaqui Verde has been on the Minera team's radar for many years and its acquisition adds significantly to the Company's copper assets in the area where we already operate. The area surrounding Los Verdes hosts numerous copper deposits. The combination of these assets into a single entity greatly expands the potential options for developing a regional copper "hub," the production from which can grow organically over time. The Company already has significant infrastructure and personnel active in the area through the development of our Santana gold project and these existing assets will greatly assist with the development of a new copper producer," stated Minera President Doug Ramshaw. "Following the recent conclusion of some proceedings confirming title to the Suaqui project concessions, we are extremely pleased to have been able to conclude this transaction. What is particularly gratifying on a personal level is Suaqui Verde was one of two assets that were part of a joint venture Company with Phelps Dodge in the 1990s that brought me to Canada in 1997. Suaqui Verde was the less advanced of the two projects; and we believe offers tremendous potential for our shareholders as a result of this past focus on the larger "sister" project, Piedras Verdes, that ultimately became a mine."
Suaqui Verde Copper Deposit
The geology of the Suaqui Verde copper deposit consists of a Cretaceous series of massive andesitic volcanics (Tarahmara formation) that were intruded by multiple granodioritic porphyry phases. Each phase may have an overlapping halo band/shell of copper mineralization. The later more felsic intrusive phases have high molybdenum contents and lower copper contents. At surface the known area of Suaqui Verde copper oxide mineralization has been traced over an area that extends to 2-3 km in length with widths of +1 km and is present in fractures, veinlets and in disseminated form.
The deposit is located in southern Sonora along the NW-SE trending porphyry copper belt which extends into Arizona, US. The project is approximately 120 km southeast of Hermosillo (paved highway access) and 50 km west of Minera's Santana gold mine and Los Verdes/Potreritos copper projects. The port of Guaymas is located 110km southwest of the project and is actively used for the shipment of copper concentrates and other industrial materials. Three phase electrical service is available and accessible approximately 5 km from the mine site. Paved highway provides access to the nearby town of Suaqui Grande, with approximately 1,000 residents, that has 3 phase electrical service. Thereafter, a number of unpaved roads provide access to the property 5-10km away.
One of the unique aspects of the Suaqui Verde deposit is that is has a deeply oxidized zone of copper mineralization interpreted to result from surface waters moving to depth along the broad northeast trending shear zones. The depth of the oxidation zone appears to extend beyond the limits of historic drill campaigns which were typically limited to depths of 300m or less. Historical metallurgical testwork on samples from the project confirmed the potential for processing this copper oxide mineralized material via heap leach and solvent extraction-electrowinning (SX-EW) technology to directly produce copper metal cathode (as opposed to copper mineral concentrates that require further processing).
The project has been the subject of numerous historical exploration as well as limited mining activities dating back to at least the 1940s and 19050s. A small area of mixed chalcocite/copper oxide material was mined in the 1950s via a shallow underground access and contained reported metal contents up to 14% copper. Companies involved in historical exploration at the project include ASARCO, Penoles, AZCO, Cambior, Phelps Dodge and Summo. In the 1970s, Cominco was involved in the area and completed exploration activities at Suaqui Verde as well as at Minera's Los Verdes project.
The focus of the majority of the historical exploration efforts on the property was the central core of higher-grade oxide/transition copper mineralization. During the more recent exploration and evaluation period for the project (beginning with AZCO in the 1990s), a number of resource estimates were completed. Available data from this period showed historical estimates for the upper oxide/transition open-pittable mineralization that were generally in the range of 50-60 Mt grading approximately 0.28-0.30% Cu. In addition, historic estimates of additional mineralized potential in the less drilled mineralized "halo" area surrounding the core area ranged up to 200 Mt at grades approaching 0.25% Cu.
Notes:
Grupo Mexico (internal report) reviewed the project in 2000 which resulted in a resource estimation using the Minesite program. They showed, with a 75m search radius at 0.2% cutoff, a resource of 59,35,248 tons with a grade of 0.28% copper, or with a 0.3% cutoff a resource of 15,624,375 tons of 0.4% copper. The same data with a 150m search radius and using a 0.2% cutoff indicated a resource of 172,532,256 tons 0f 0.26% copper. At a 0.3% cutoff and 150m search radius it showed 36,711,000 tons at 0.38% copper.
Summo (now Constellation Copper - internal report) also reviewed and made a resource calculation in 2000 with a pit plan cone at 0.2% cutoff that resulted in 52,489,210 tons of 0.292% copper having a further 10,032,320 tons of 0.152% copper for stockpile and 7,780,200 tons of waste.
The Company is not treating any historical estimates described in this release as current and the Company's QP has not completed sufficient work to classify these historical estimates as current mineral resources. While the Company is not treating these historical estimates as current resources, it does believe the reference work conducted by Grupo Mexico, Summo and others, is reliable and the information may be of assistance to readers. The Company intends to commence work on a new resource estimate for the Suaqui Verde project including a data review to determine what is required to fully update the historical mineral resources to a current standard.
Photo 2 - Access to some of the historic copper mining areas present within the Suaqui Verde Project area
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4183/206958_e377808c140d0851_003full.jpg
Map 1 - Location of Suaqui Verde relative to Minera's Los Verdes and Santana projects
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4183/206958_e377808c140d0851_004full.jpg
Los Verdes
The Company's Los Verdes and Poteritos copper projects (past producers within close proximity of each other) located in Sonora are just northeast of the Santana gold mine.
Highlights for the projects are detailed below:
Los Verdes Measured+Indicated Resource Estimate of 8 million tonnes containing 0.67% Cu, 0.12% Mo, 4.7 g/t Auof (+1% CuEq).
Potreritos area which surrounds additional historical underground mine workings and presents similar exposed copper-molybdenum mineralization to that of Los Verdes. The area has been subjected to limited modern exploration relative to the larger Los Verdes deposit.
Extensive metallurgical testwork and basic engineering design completed for the construction of a two product (copper and molybdenum) central flotation facility to process material from the surrounding deposits.
Adjacent to a major state highway leading to mineral concentrate ocean port facilities at Guaymas, Sonora.
Minera is currently reviewing the designs contained withing the current PEA with a target of scaling down the initial capital requirements through implementation of commercial ore-sorting equipment that has demonstrated the potential for the project to reduce processing plant throughput requirements by increasing plant feed grades to the 2-3% CuEq range with high recoveries from crushed mine material.
Additional exploration targets have already been identified including a significant geophysical target from an induced polarization survey corresponding to a zone of intense pyritization and anomalous surface samples (copper/molybdenum) located between the two known copper deposits.
The PEA report for Los Verdes titled "Los Verdes Cu/Mo Project - Preliminary Economic Assessment was prepared by Golder Associates Ltd. for Virgin Metals Ltd" and dated May 2012, a copy of which is available under the Company's profile on SEDARplus (filed May 25, 2012). Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Mr. Darren Koningen, P. Eng., Minera Alamos' CEO, is the Qualified Person responsible for the technical content of this press release under National Instrument 43-101.
For Further Information Please Contact:
Minera Alamos Inc.
Doug Ramshaw, President
Tel: 604-600-4423
Email: dramshaw@mineraalamos.com
Victoria Vargas de Szarzynski, VP Investor Relations
Tel: 289-242-3599
Email: vvargas@mineraalamos.com
Website: www.mineraalamos.com
About Minera Alamos Inc.
Minera Alamos is a gold production and development Company undergoing the operational startup of its first gold mine that produced its first gold in October 2021. The Company has a portfolio of high-quality Mexican assets, including the 100%-owned Santana open-pit, heap-leach mine in Sonora that is currently going through its operational ramp up. The 100%-owned Cerro de Oro oxide gold project in northern Zacatecas has considerable past drilling and metallurgical work completed and has entered the permitting process. The La Fortuna open pit gold project in Durango (100%-owned) has a robust and positive preliminary economic assessment (PEA) completed and the main Federal permits in place. Minera Alamos is built around its successful operating team that together brought three mines into production in Mexico over the last 13 years.
The Company's strategy is to develop very low CAPEX assets while expanding the projects' resources and continuing to pursue complementary strategic acquisitions.
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking information and Minera Alamos cautions readers that forward-looking information is based on certain assumptions and risk factors that could cause actual results to differ materially from the expectations of Minera Alamos included in this news release. This news release includes certain "forward-looking statements", which often, but not always, can be identified by the use of words such as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". These statements are based on information currently available to Minera Alamos and Minera Alamos provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements with respect to Minera Alamos' future plans with respect to the projects, objectives or goals, to the effect that Minera Alamos or management expects a stated condition or result to occur and the expected timing for release of a resource and reserve estimate on the projects. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, the economics of processing methods, project development, reclamation and capital costs of Minera Alamos' mineral properties, the ability to complete a preliminary economic assessment which supports the technical and economic viability of mineral production could differ materially from those currently anticipated in such statements for many reasons. Minera Alamos' financial condition and prospects could differ materially from those currently anticipated in such statements for many reasons such as: an inability to finance and/or complete an updated resource and reserve estimate and a preliminary economic assessment which supports the technical and economic viability of mineral production; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Minera Alamos' activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Minera Alamos' forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Minera Alamos' forward-looking statements. Minera Alamos does not undertake to update any forward-looking statement that may be made from time to time by Minera Alamos or on its behalf, except in accordance with applicable securities laws.
The Company does not have a feasibility study of mineral reserves, demonstrating economic and technical viability for the Santana project, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. Failure to commence production would have a material adverse impact on the Company's ability to generate revenue and cash flow to fund operations.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE: Minera Alamos Inc.
Asia Broadband Tequila Mine Achieves $1.4 Million Dollar Record Quarterly Gold Production Revenue, As Flagship Ore Stockpile Processing Facility Plant Construction Progresses
https://ca.finance.yahoo.com/news/asia-broadband-tequila-mine-achieves-120000689.html
Asia Broadband Inc.
Thu, April 25, 2024 at 5:00 a.m. PDT·3 min read
AABB
+0.81%
OTCM
0.00%
LAS VEGAS, April 25, 2024 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that for the recent quarter ending March 31, gold production revenues reached a record $1.4 million dollars from the Company’s Tequila Gold Mine Project in the Tequila region of Mexico. The first quarter results will be published in the coming weeks reflecting a doubling of gold production from the levels recorded in the last quarter of 2023. The resulting increase in gross profit for the quarter was attributed to higher-grade recoveries, increased daily throughput levels and reduced production costs from economies of scale. Additionally, the initial weeks of production in April at the Tequila Mine are trending to achieve equivalent revenues for the second quarter.
The AABB mining team’s elevated operational strategies and efficiencies in Q1 have created the foundation for the high production levels to follow the completion of the Company’s processing plant. The new facility is under construction in Etzatlan, Mexico, and is currently receiving the remaining equipment components to allow for their integration and finishing in the build-out process. The majority of plant capacity will be dedicated to processing the estimated $1 billion dollar ore value of the Company’s exclusive rights surface stockpile. AABB expects to release a processing plant progress update in the coming weeks.
“With our current production coming exclusively from the Tequila Mine, we are thrilled with the ramped-up output facilitated by our mining operations team. The next steps in our ambitious expansion plans are to complete the new processing plant and begin much higher levels of production from our massive ore stockpile at Etzatlan,” expressed Chris Torres, the Company President and CEO.
AABB continues to implement its mining property acquisition strategy to optimize development capital utilization by focusing operations in regions of Mexico where AABB has a comparative advantage of development resources and expertise readily available for rapid expansion and duplication of the Company’s previous gold production success.
About Asia Broadband
Asia Broadband Inc. (OTC: AABB) is a resource company focused on the production of precious metals and the accumulation of physical gold holdings. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate the expansion of precious metals property holdings and production in Mexico. The Company's industry and business integration in Mexico and its asset diversification are unique strengths of AABB that differentiate it from other companies and creates distinctive value for shareholders. Additionally, the Company has a digital assets business segment with its AABBG mine-to-token gold-backed cryptocurrency within its own proprietary AABB Wallet and the unique Golden Baboons Mining Club and Shorts Rascal Club Non-Fungible Token (NFT) collections. AABB expects its token to become a world-wide standard of exchange that is stable, secured and trusted with gold backing, while having the added benefit of demand based price appreciation. These are unique and outstanding qualities relative to other cryptocurrencies and digital asset developers.
Contact the Company at:
General Email:
ir@asiabroadbandinc.com
Token Support:
support@aabbgmine2token.com
Company Websites:
www.asiabroadbandinc.com
www.aabbgmine2token.com
www.goldenbaboons.com
Phone:
702-866-9054
Forward-Looking Statements are contained in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Asia Broadband Inc.’s (the “Company”) expected current beliefs about the Company’s business, which are subject to uncertainty and change. The operations and results of the Company could materially differ from what is expressed or implied by the statements made above when industry, regulatory, market and competitive circumstances change. Further information about these risks can be found in the annual and quarterly disclosures the Company has published on the OTC Markets website. The Company is under no obligation to update or alter its forward-looking statements as future circumstances, events and information may change.
MAG Announces First Quarter 2024 Production From Juanicipio
https://ca.finance.yahoo.com/news/mag-announces-first-quarter-2024-105000607.html
MAG Silver Corp.
Wed, April 24, 2024 at 3:50 a.m. PDT
MAG
-0.82%
FRES.L
+0.35%
VANCOUVER, British Columbia, April 24, 2024 (GLOBE NEWSWIRE) -- MAG Silver Corp. (TSX / NYSE American: MAG
Atico Produces 3.34 Million Pounds of Cu and 2,156 Ounces of Au in First Quarter 2024
https://ca.finance.yahoo.com/news/atico-produces-3-34-million-201500064.html
Atico Mining Corporation
Mon, April 22, 2024 at 1:15 p.m. PDT·4 min read
ATCMF
-1.05%
VANCOUVER, British Columbia, April 22, 2024 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTCQX: ATCMF)
Atacama Copper Intercepts 10.65 g/t AuEq over 7.8 m and 9.40 g/t AuEq over 2.2 m at Its Cristina Project in Chihuahua Mexico
https://www.newsfilecorp.com/release/206521
April 23, 2024 8:55 AM EDT | Source: Atacama Copper Corporation
Vancouver, British Columbia--(Newsfile Corp. - April 23, 2024) - Atacama Copper Corporation (TSXV: ACOP)
LUCA REPORTS STRONG PRODUCTION FOR Q1 2024
https://www.newswire.ca/news-releases/luca-reports-strong-production-for-q1-2024-879264653.html
Luca Mining Corp. Apr 22, 2024, 04:00 ET
VANCOUVER, BC, April 22, 2024 /CNW/ - Luca Mining Corp. ("Luca" or the "Company") (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) reports strong Q1 2024 production of 14,148 troy oz of gold equivalent as our Tahuehueto gold and silver mine ramps up towards its 1,000 ton per day commercial production target and the optimization program rapidly progresses at Campo Morado.
The Tahuehueto gold and silver mine in Durango state, produced approximately 3,657 troy oz of gold equivalent comprised of 43 tonnes of copper, 468 tonnes of zinc, 2,368 troy ounces of gold, 27,396 troy ounces of silver and 251 tonnes of lead in Q1 2024, an increase of 18% from Q4 2023.
The second mill at Tahuehueto has been installed and underwent a successful commissioning period. In March 2024, the site was achieving approximately 60% of total installed milling capacity and a record of over 14,000 dry metric tons (dmt) milled (approximately 46% increase over February 2024). At this rate Tahuehueto is expected to declare commercial production as a brand-new gold and silver mine and achieve positive operating cash flow in 2H 2024.
The Campo Morado copper-zinc mine in Guerrero state, produced approximately 10,491 troy ounces of gold equivalent comprised of 748 tonnes of copper, 2,600 tonnes of zinc, 1,929 troy ounces of gold, 180,108 troy ounces of silver and 410 tonnes of lead in Q1 2024. This is an increase of approximately 25% from the previous quarter.
These strong results do not reflect the full potential of the optimization program which continues to be implemented at Campo Morado. New blending and reagent protocols have yielded higher concentrate grades and recoveries, and the mine is already generating positive operating cash flow. Ongoing improvements to grade control, reagent dosing systems, process controls and metallurgical testing will provide more benefits through the production of three separate, higher value concentrates – copper, zinc, and lead, expected to take place in H2 2024 which will further increase revenue and operating cash flow.
Ramon Perez, President, and Interim CEO, commented, "We are pleased with the continued performance of the operations at both Campo Morado and Tahuehueto. Having returned from the Tahuehueto Mine, I am very encouraged with the speed and progress we are making at site. We have already achieved over 60% of the nameplate capacity. A third filter press is enroute to the plant, which following installation, will allow for the tonnage to reach full capacity of 1,000 tpd. We are in the final stages of commissioning and look forward to declaring commercial production in H2 2024.
At Campo Morado we are currently milling 1,600 tpd of our 2,400 tpd capacity. and are increasing the quality of our bulk and zinc concentrates. As we continue to modernise our equipment we expect the milling rate to increase in Q2 2024. In addition, the optimization program is also moving forward at a rapid pace with the ultimate objective to produce three separate, salable concentrates of copper, zinc and lead which will further enhance cash flow. I will be updating the market on this progress shortly."
1.
Gold equivalents are calculated using an 88.97:1 (Ag/Au), 0.001:1 (Au/Zn), 0.002:1 (Au/Cu) and 0.0004:1 (Au/Pb) ratio for Q1 2024
Operational Performance
Campo Morado
The Campo Morado copper-zinc mine in Guerrero state, processed approximately 125,105 tonnes of ore during Q1 2024, meeting expectations of the mine plan. Campo Morado has seen improvements in metallurgical recovery and bulk concentrate grades during the quarter which are the direct result of the ongoing improvement project. In Q1, improvements to ore blending, reagent dosing and equipment refurbishments have had a positive impact to operating results.
Tahuehueto
The Tahuehueto gold, silver mine in Durango state, currently in pre-production, processed approximately 33,319 tonnes of ore in Q1 2024, an increase of 42% from Q4 2023. Construction of permanent access to the pumping ponds at the tailings storage facility is ongoing. All peripheral installations of the second mill have been completed with the final testing ongoing throughout Q1. Additionally, the installation of the second filter press has been completed and is now operational. Throughput for the month of January was 9,665 tonnes and in the month of February was 9,617 tonnes, which continues to increase systematically as ramp up continues. In March, Tahuehueto achieved a new daily milling record of 703 tonnes and a monthly record of over 14,000 tonnes.
We caution that as with any company bringing a new mine into production, the monthly results may vary dramatically while operations are halted for plant installations and testing, and we do not expect to report consistent, stable results until commercial production is achieved at Tahuehueto, which is expected by H2 2024.
Furthermore, we will not be able to provide guidance on certain metrics for Tahuehueto such as "All In Sustaining Costs", until commercial production is achieved. We do not expect to report consistent, stable results until commercial production is achieved at Tahuehueto, which is expected by H2 2024.
1.
Gold equivalents are calculated using an 88.97:1 (Ag/Au), 0.001:1 (Au/Zn), 0.002:1 (Au/Cu) and 0.0004:1 (Au/Pb) ratio for Q1 2024
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, Silver 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 test work and production ramp-up 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) "Ramon Perez"
Ramon Perez
President and Interim CEO
Qualified Persons
The technical information contained in this News Release has been reviewed and approved by Mr. Chris Richings, Vice-President Technical at Luca Mining as the Qualified Person for the Company as defined in National Instrument 43-101.
Cautionary Note Regarding Production Decisions and Forward-Looking Statements
It should be noted that Luca declared commercial production at Campo Morado prior to completing a feasibility study of mineral reserves demonstrating economic and technical viability. Accordingly, readers should be cautioned that Luca's production decision has been made without a comprehensive feasibility study of established reserves such that there is greater risk and uncertainty as to future economic results from the Campo Morado mine and a higher technical risk of failure than would be the case if a feasibility study were completed and relied upon to make a production decision. Luca has completed a preliminary economic assessment ("PEA") mining study on the Campo Morado mine that provides a conceptual life of mine plan and a preliminary economic analysis based on the previously identified mineral resources (see news releases dated November 8, 2017, and April 4, 2018).
Positive operating cash flow is defined as excluding capital, debt repayment and Trafigura financing.
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities laws. Forward Looking Information includes, but is not limited to, disclosure regarding the planned program to improve mining operations at Campo Morado; and other possible events, conditions or financial performance that are based on assumptions about future economic conditions and courses of action; the timing and costs of future activities on the Company's properties, such as production rates and increases; success of exploration, development and bulk sample processing activities, and timing for processing at its own mineral processing facility on the Tahuehueto project site. In certain cases, Forward-Looking Information can be identified using words and phrases such as "plans," "expects," "scheduled," "estimates," "forecasts," "intends," "anticipates" or variations of such words and phrases. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, that the current exploration, development, environmental and other objectives concerning the Campo Morado Mine and the Tahuehueto Project can be achieved; that the program to improve mining operations at Campo Morado will proceed as planned; the continuity of the price of gold and other metals, economic and political conditions, and operations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Luca Mining Corp.
For further information: Sophia Shane, Director of Corporate Development, sshane@lucamining.com; or Glen Sandwell, Corporate Communications Manager, ir @chas7
Endeavour Silver Celebrates Milestone: Terronera Surpasses 50% Construction Completion
https://ca.finance.yahoo.com/news/endeavour-silver-celebrates-milestone-terronera-100000607.html
Endeavour Silver Corporation
Mon, April 22, 2024 at 3:00 a.m. PDT·2 min read
EXK
-1.92%
VANCOUVER, British Columbia, April 22, 2024 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) announces a significant milestone in the construction of its new Terronera mine, in Jalisco state, Mexico. The project has surpassed the 50% completion mark, marking a crucial step forward in the Company's expansion efforts.
To celebrate this achievement, the Company is pleased to provide a short video offering investors an exclusive look at the new mine with insights from the executive team. This video highlights the construction progress, showcases the scale and scope of the project, and emphasizes the positive impact on both the company and the local community. Investors, stakeholders, and the public are invited to watch this milestone video here. The video was filmed in mid-March and represents construction progress at that time.
Dan Dickson, Chief Executive Officer stated, “Reaching the halfway mark in our construction schedule is a testament to the hard work and dedication of our team. With commissioning expected in Q4 2024, Terronera will bring tremendous potential to our company's future, as we grow and expand our operations through responsible practices.”
Visit www.terronera.com, our dedicated project website, to stay informed on the ongoing development at Terronera. Explore updates, learn about our commitment to environmental stewardship, and discover the positive impacts on local communities.
About Endeavour Silver: Endeavour is a mid-tier precious metals company with a strong commitment to sustainable and responsible mining practices. With operations in Mexico and the development of the new cornerstone mine in Jalisco state, the company aims to contribute positively to the mining industry and the communities in which it operates. In addition, Endeavour has a portfolio of exploration projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer.
Contact Information
Galina Meleger, VP, Investor Relations
Email: gmeleger@edrsilver.com
Website: www.edrsilver.comFollow Endeavour Silver on Facebook, X, Instagram and LinkedIn
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding Endeavour’s anticipated performance in 2024 including changes in mining operations and forecasts of production levels, anticipated production costs and all-in sustaining costs and the timing and results of various 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 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; 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 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.
Silver Spruce/Colibri Launch 2024 Drilling Program on El Pillado Polymetallic Target at Diamante Au-Ag Project, Sonora, Mexico
https://www.accesswire.com/854466/silver-spruce-and-partner-colibri-resource-launch-2024-drilling-program-on-el-pillado-polymetallic-target-at-diamante-au-ag-project-sonora-mexico
Thursday, 18 April 2024 11:55 AM
BEDFORD, NS / ACCESSWIRE / April 18, 2024 / (TSXV:SSE)
Prime Reports 11.8 gpt gold-equivalent over 3.0 metres at Las Primas And Continues to Discover High Grades at Shallow Depths
https://ca.finance.yahoo.com/news/prime-reports-11-8-gpt-100000347.html
Prime Mining Corp.
Wed, April 17, 2024 at 3:00 a.m. PDT·15 min read
PRMNF
+1.50%
VANCOUVER, British Columbia, April 17, 2024 (GLOBE NEWSWIRE) -- Prime Mining Corp. (“Prime” or the “Company”) (TSX: PRYM) (OTCQX: PRMNF) (Frankfurt: 04V3)
Kingsmen Resources Announces That Soledad II Structure Returns High Grade Multi Element Sample Results
https://www.newsfilecorp.com/release/205921
April 18, 2024 8:30 AM EDT | Source: Kingsmen Resources Ltd
Vancouver, British Columbia--(Newsfile Corp. - April 18, 2024) - Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF
SilverCrest Provides First Quarter Operational Results and Conference Call Details
https://www.newswire.ca/news-releases/silvercrest-provides-first-quarter-operational-results-and-conference-call-details-832364747.html
SilverCrest Metals Inc. Apr 17, 2024, 17:00 ET
Record Processed Grades and Recoveries, Silver Equivalent Sales Exceed Plan
TSX: SIL | NYSE American: SILV
Tocvan Discovers Source to Placer Gold
https://www.accesswire.com/854360/tocvan-discovers-source-to-placer-gold
Thursday, 18 April 2024 08:30 AM
Expands Mineralized Footprint of Greater Pilar Gold – Silver System by 3x
Highlights:
1,500m by 800m Area Sampled East of Main Zone has Returned High Values of Au and Ag
700m by 600m Area Directly Related to Placer Gold Mining
No Previous Exploration in the Area; Tocvan has 100% Interest in the New Area
Placer Source Area has New Road Access
Gold Values up to 7.3 g/t Au
Silver Values up to 389 g/t Ag
CALGARY, AB / ACCESSWIRE / April 18, 2024 / Tocvan Ventures Corp. (the "Company") (CSE:TOC)(OTCQB:TCVNF)(FSE:TV3)
IMPACT Silver Intersects 10.22% Zinc over 8.6m Including 30.10% Zinc over 1.1m at the Plomosas Mine
https://www.newsfilecorp.com/release/205982
April 18, 2024 9:39 AM EDT | Source: IMPACT Silver Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 18, 2024) - IMPACT Silver Corp. (TSXV: IPT) (OTCQB: ISVLF) (FSE: IKL)
Goldgroup Updates Exploration Efforst at Cerro Prieto Gold Mine
https://thenewswire.com/press-releases/1BglFz6Mx-goldgroup-updates-exploration-efforst-at-cerro-prieto-gold-mine.html
Vancouver, British Columbia April 17, 2024 – TheNewswire – Goldgroup Mining Inc. (“Goldgroup” or the “Company”) (TSXV:GGA, OTC:GGAZF)
Defiance Silver Delineates High-Grade Polymetallic and Precious Metal Systems at Its Lucita Property
https://www.newsfilecorp.com/release/205501
April 15, 2024 2:00 AM EDT | Source: Defiance Silver Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 15, 2024) - Defiance Silver Corp. (TSXV: DEF) (OTCQX: DNCVF) (FSE: D4E) (WKN: A1JQW5)
Asia Broadband Doubles Gold Production In 1st Quarter, Prior To Ore Stockpile Processing Plant Completion
https://ca.finance.yahoo.com/news/asia-broadband-doubles-gold-production-120000252.html
Asia Broadband Inc.
Tue, April 16, 2024 at 5:00 a.m. PDT·3 min read
AABB
-2.79%
OTCM
+0.70%
LAS VEGAS, April 16, 2024 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the financial results for the 1st quarter ending March 31, 2024, will be published in the coming weeks confirming the Company’s increased production and gross profit. Gold production more than doubled in the 1st quarter of 2024, in comparison to the 4th quarter of 2023, due to the higher grade recoveries and increased daily throughput levels. Additionally, the economies of scale from higher productions levels reduced production costs and added to the bottom-line gross profit for the quarter.
The elevated operational strategies and efficiencies of the AABB mining team in Q1 are setting the foundation for the high production levels to follow the completion of the Company’s processing plant. The new facility is currently under construction in Etzatlan, Mexico, and its capacity will be primarily dedicated to processing the estimated $1 billion dollar ore value of the Company’s exclusive rights surface stockpile. AABB expects to release a processing plant progress update in the coming weeks.
“Our operations team have really geared up our production in the first quarter and we are excited to extend this expertise to our massive ore stockpile processing when the new plant is complete. This will take us to a much higher level than we have ever reached before,” stated Chris Torres, the Company President and CEO.
AABB continues to implement its mining property acquisition strategy to optimize development capital utilization by focusing operations in regions of Mexico where AABB has a comparative advantage of development resources and expertise readily available for rapid expansion and duplication of the Company’s previous gold production success.
About Asia Broadband
Asia Broadband Inc. (OTC: AABB) is a resource company focused on the production of precious metals and the accumulation of physical gold holdings. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate the expansion of precious metals property holdings and production in Mexico. The Company’s industry and business integration in Mexico and its asset diversification are unique strengths of AABB that differentiate it from other companies and creates distinctive value for shareholders. Additionally, the Company has a digital assets business segment with its AABBG mine-to-token gold-backed cryptocurrency within its own proprietary AABB Wallet and the unique Golden Baboons Mining Club and Shorts Rascal Club Non-Fungible Token (NFT) collections. AABB expects its token to become a world-wide standard of exchange that is stable, secured and trusted with gold backing, while having the added benefit of demand based price appreciation. These are unique and outstanding qualities relative to other cryptocurrencies and digital asset developers.
Contact the Company at:
General Email:
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.
Silver Dollar Samples Up to 29.61 g/t Gold, 2,215 g/t Silver and 3.34% Copper at the Nora Project
High-grade gold and silver confirmed at the main Candy Vein structure and follow up drill target development is underway
https://www.newsfilecorp.com/release/205593
April 16, 2024 7:30 AM EDT | Source: Silver Dollar Resources Inc.
Vancouver, British Columbia--(Newsfile Corp. - April 16, 2024) - Silver Dollar Resources Inc. (CSE: SLV) (OTCQX: SLVDF) (FSE: 4YW)
Silver Tiger Provides Update on Pre-Feasibility Study Mineral Resource Drilling
https://www.accesswire.com/853410/silver-tiger-provides-update-on-pre-feasibility-study-mineral-resource-drilling
Tuesday, 16 April 2024 07:00 AM
HALIFAX, NS / ACCESSWIRE / April 16, 2024 / Silver Tiger Metals Inc. (TSXV:SLVR) and (OTCQX:SLVTF
VIZSLA SILVER TO ACQUIRE LARGE CLAIM PACKAGE ALONG HIGHLY PROSPECTIVE STRUCTURAL TREND, SOUTH OF PANUCO
https://www.newswire.ca/news-releases/vizsla-silver-to-acquire-large-claim-package-along-highly-prospective-structural-trend-south-of-panuco-881814505.html
Vizsla Silver Corp. Apr 16, 2024, 07:00 ET
NYSE: VZLA TSX-V: VZLA
VANCOUVER, BC, April 16, 2024 /CNW/ - Vizsla Silver Corp. (TSXV: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) ("Vizsla Silver" or the "Company") is pleased to announce that it has entered into an agreement to acquire two large claims comprising 10,667.0 Ha (the "El Richard – San Enrique claims" or "San Enrique prospect") located south and partially adjacent to the Company's Panuco project (the "Panuco Project" or "Panuco"). The San Enrique prospect is situated along the highly prospective Panuco – San Dimas corridor and is covered 100% with LiDAR and partially covered with high-resolution aero-magnetic and radiometric surveys.
Figure 1: Location map of the San Enrique Prospect, Panuco Project and La Garra. See Company news release dated January 8, 2024 on “Updated Mineral Resource Estimate” for the Panuco project. (CNW Group/Vizsla Silver Corp.)
Figure 2. Geology of the silver-gold-rich Panuco – San Dimas corridor. (CNW Group/Vizsla Silver Corp.)
Figure 3. Map showing the San Enrique prospect with high resolution aero-mag overlain on top of the LiDAR terrain model. (CNW Group/Vizsla Silver Corp.)
Highlights
Large property package comprised of 10,667 Ha just south of Panuco (almost 50% larger than Panuco).
The area is covered with a LiDAR survey and partially covered (~60%) with high-resolution air magnetic and radiometric surveys.
The prospect contains dome complexes and covers the SE extensions of the NW trending Copala fault and Cordon del Oro - Animas veins.
Preliminary recognizance mapping in the NE has identified favourable andesite lithologies, quartz veining and breccias.
The area has never been systematically mapped and prospected.
Vizsla Silver has agreed to issue to the seller US$650,000 in common shares.
"Vizsla Silver continues to expand its land position in the Sinaloa Silver Belt with the acquisition of the San Enrique prospect," stated Michael Konnert, President, and CEO. "These claims are located southeast along trend from several of our existing mineralised vein corridors, including the high grade Copala structure and they add significant exploration upside potential to Vizsla's growing portfolio of projects. With preliminary geophysics and LiDAR complete, we intend to move forward with regional recognizance-mapping and a stream-sediment geochemical survey to aid in ongoing drill targeting. Although Vizsla Silver remains committed to the near-term development of the advanced-stage Panuco-Copala district, this acquisition combined with the recently announced La Garra acquisition, further positions Vizsla Silver as a globally significant silver explorer-developer, with the potential to build a multi-generational asset base in Mexico."
About the San Enrique prospect
The San Enrique prospect area is adjacent to the southern boundary of the Panuco project. The prospect comprises two titled mining claims covering 10,667.0 Ha (El Richard with 3,688.6 Ha and San Enrique with 6,978.4 Ha) in the emerging silver-gold-rich Panuco – San Dimas corridor with estimated past production plus current resources and reserves of 1.2-Boz Ag and 15-Moz Au (Figure 2).
The LiDAR and mag survey from the San Enrique prospect show strong NW-trending lineaments, indicative of regional faults and fractures. Two of these lineaments are aligned and seem to be the SE extensions of the Copala fault and the Cordon del Oro - Animas vein structures in Panuco (Figure 3). The main lithologies identified to date are predominantly rhyolite domes which produce strong magnetic anomalies in the north, and felsic flows and tuffs (rhyolites and dacites). Recent 40Ar/39Ar age dating on adularia separates from veins in Panuco project indicates that epithermal mineralization post dates felsic volcanism in the area. Additionally, preliminary recognizance mapping in the northeast has revealed the presence of andesite tuffs and flows, quartz veining and breccia structures. The Santa Fe mine is located three kilometres south of San Enrique, is owned and operated by Inca Azteca Gold and is a small scale mine producing high-grade silver and gold from a NW trending epithermal vein. This supports the hypothesis that the NW trending structures within San Enrique have the potential to host additional veins yet to be discovered.
The San Enrique prospect contains several indicators that suggest it is a highly prospective area, namely: location (Panuco – San Dimas corridor), high-grade deposits immediately north (Copala and Panuco), structural controls (southeast extensions of the Copala fault and Cordon - Animas lineament), domes and an operating mine to the south along another NW regional fault (Santa Fe mine, Inca Azteca).
Vizsla Silver is in the process of acquiring a multispectral World View III satellite image covering the whole Panuco and San Enrique claims to speed up the target generation process. Furthermore, the Company intends to conduct regional recognizance-mapping and a stream-sediment geochemical survey at San Enrique in the near future.
Terms of the Acquisition
The Company entered into an asset purchase agreement (the "Acquisition Agreement") dated March 5, 2024, with Inca Azteca Gold S.A.P.I. de C.V. (the "Seller") and the Company's wholly owned subsidiary, Minera Canam, S.A. de C.V. ("Minera Canam") pursuant to which the Company agreed to acquire, through Minera Canam, all of the Seller's right, title and interest in and to the mineral concessions (the "Acquisition").
Pursuant to the Acquisition Agreement, the Company has agreed to issue an aggregate of US$650,000 in common shares in the capital of the Company, at the exchange rate and market price applicable on the effective date (collectively, the "Consideration Shares") plus any applicable value added tax to the Seller. The Consideration Shares are subject to a four-month hold period pursuant to applicable Canadian securities laws and the Seller has agreed to voluntary resale restrictions, whereby 12.5% of the Consideration Shares will become free trading on the date that is four months and one day from the effective date and an additional 12.5% will become free trading every three months thereafter.
About the Panuco Project
The newly consolidated Panuco silver-gold project is an emerging high-grade discovery located in southern Sinaloa, Mexico, near the city of Mazatlán. The 17,856.5-hectare, past producing district benefits from over 86 kilometres of total vein extent, 35 kilometres of underground mines, roads, power, and permits.
The district contains intermediate to low sulfidation epithermal silver and gold deposits related to siliceous volcanism and crustal extension in the Oligocene and Miocene. Host rocks are mainly continental volcanic rocks correlated to the Tarahumara Formation.
On January 8, 2024, the Company announced an updated mineral resource estimate for Panuco which includes an estimated in-situ indicated mineral resource of 155.8 Moz AgEq and an in-situ inferred resource of 169.6 Moz AgEq.
About Vizsla Silver
Vizsla Silver is a Canadian mineral exploration and development company headquartered in Vancouver, BC, focused on advancing its flagship, 100%-owned Panuco silver-gold project located in Sinaloa, Mexico. To date, Vizsla Silver has completed over 350,000 metres of drilling at Panuco leading to the discovery of several new high-grade veins. For 2024, Vizsla Silver has budgeted +65,000 metres of resource/discovery-based drilling designed to upgrade and expand the mineral resource, as well as test other high priority targets across the district.
Qualified Person
In accordance with NI 43-101, Jesus Velador, Ph.D. MMSA QP., Vice President of Exploration, is the Qualified Person for the Company and has reviewed and approved the technical and scientific content of this news release.
Information Concerning Estimates of Mineral Resources
The scientific and technical information in this news release was prepared in accordance with NI 43-101 which differs significantly from the requirements of the U.S. Securities and Exchange Commission (the "SEC"). The terms "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" used herein are in reference to the mining terms defined in the Canadian Institute of Mining, Metallurgy and Petroleum Standards (the "CIM Definition Standards"), which definitions have been adopted by NI 43-101. Accordingly, information contained herein providing descriptions of our mineral deposits in accordance with NI 43-101 may not be comparable to similar information made public by other U.S. companies subject to the United States federal securities laws and the rules and regulations thereunder.
You are cautioned not to assume that any part or all of mineral resources will ever be converted into reserves. Pursuant to CIM Definition Standards, "inferred mineral resources" are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Such geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An inferred mineral resource has a lower level of confidence than that applying to an indicated mineral resource and must not be converted to a mineral reserve. However, it is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable. Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade without reference to unit measures.
Canadian standards, including the CIM Definition Standards and NI 43-101, differ significantly from standards in the SEC Industry Guide 7. Effective February 25, 2019, the SEC adopted new mining disclosure rules under subpart 1300 of Regulation S-K of the United States Securities Act of 1933, as amended (the "SEC Modernization Rules"), with compliance required for the first fiscal year beginning on or after January 1, 2021. The SEC Modernization Rules replace the historical property disclosure requirements included in SEC Industry Guide 7. As a result of the adoption of the SEC Modernization Rules, the SEC now recognizes estimates of "measured mineral resources", "indicated mineral resources" and "inferred mineral resources". Information regarding mineral resources contained or referenced herein may not be comparable to similar information made public by companies that report according to U.S. standards. While the SEC Modernization Rules are purported to be "substantially similar" to the CIM Definition Standards, readers are cautioned that there are differences between the SEC Modernization Rules and the CIM Definitions Standards. Accordingly, there is no assurance any mineral resources that the Company may report as "measured mineral resources", "indicated mineral resources" and "inferred mineral resources" under NI 43-101 would be the same had the Company prepared the resource estimates under the standards adopted under the SEC Modernization Rules.
Website: www.vizslasilvercorp.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things: the exploration, development, and production at the Panuco Project and the San Enrique prospect, including the potential acquisition of a multispectral World View III satellite image covering the whole Panuco and San Enrique claims and the conduct of regional recognizance-mapping and a stream-sediment geochemical survey at San Enrique.
Forward-looking statements and forward-looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Vizsla Silver, future growth potential for Vizsla Silver and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of silver, gold, and other metals; costs of exploration and development; the estimated costs of development of exploration projects; Vizsla Silver's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect Vizsla Silver's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and Vizsla Silver has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company's dependence on one mineral project; precious metals price volatility; risks associated with the conduct of the Company's mining activities in Mexico; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; risks regarding mineral resources and reserves; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities and artisanal miners; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption "Risk Factors" in Vizsla Silver's management discussion and analysis. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although Vizsla Silver has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. Vizsla Silver does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
SOURCE Vizsla Silver Corp.
For further information: For more information and to sign-up to the mailing list, please contact: Michael Konnert, President and Chief Executive Officer, Tel: (604) 364-2215, Email: info@vizslasilver.ca
First Majestic Produces 5.2 Million AgEq Oz in Q1 2024
https://www.newsfilecorp.com/release/205559
April 16, 2024 7:00 AM EDT | Source: First Majestic Silver Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 16, 2024) - First Majestic Silver Corp. (NYSE: AG) (TSX: FR) (FSE: FMV)
Xali Gold Signs New Agreement for Sale of the El Oro Tailings Project
https://ca.finance.yahoo.com/news/xali-gold-signs-agreement-sale-110000043.html
Xali Gold Corp.
Mon, April 15, 2024 at 4:00 a.m. PDT·7 min read
CGDXF
0.00%
VANCOUVER, British Columbia, April 15, 2024 (GLOBE NEWSWIRE) -- Xali Gold Corp. (TSXV:XGC) ("Xali Gold” or the “Company”) is pleased to announce that the Company has signed a Letter of Intent to enter a Purchase Agreement (the “LOI Agreement”) with Kappes, Cassiday & Associates (“KCA”) on the Mexican Mine Tailings Reprocessing Project at El Oro (the “El Oro Tailings Project”) in Mexico. The Letter of Intent is a legally binding agreement.
“We are excited to be able to move ahead with our El Oro Tailings Project,” says Joanne Freeze, President and CEO of Xali Gold. “With KCA’s experience in Mexico, and their proprietary recovery process, we anticipate a fairly rapid development timeline. KCA’s recovery process is expected to achieve higher gold and silver recoveries and require less permitting than the previous process proposed by Sun River Gold. As such, we estimate that this new agreement on the Tailings should allow us both to pay outstanding mineral rights fees on the El Oro Project as well as fund exploration at El Oro. 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. The previous agreement with Sun River Gold has been terminated as they were in default of their obligations under that agreement and were given sufficient notice of their default.”
In order to earn 100% interest in the El Oro Tailings Project, subject to royalty payments outlined below, KCA has agreed to:
Pay Xali Gold US$25,000 upon signing;
Pay Xali Gold an additional US$25,000 three months after signing the LOI Agreement;
Pay Xali Gold US$100,000 six months after signing the LOI Agreement.
Terms of the Royalty Payments are as follows:
Once production begins, KCA will pay Xali Gold a gross royalty equal to 4% of the sales income ("NSR") received from the gold and silver produced from the El Oro Tailings Project, less any royalties due and payable to others (the Municipality of El Oro), but in no case less than a 3% gross royalty.
KCA has the right at any time to buy a 1% royalty from Xali Gold for US$1,000,000, which would lower the NSR from 4% to 3% of the sales income received from the gold and silver produced from the Project, less any royalties due and payable to others including the Municipality of El Oro, but in no case less than a 2% royalty.
KCA will make minimum royalty payments of US$50,000 every six months commencing six months from signing the LOI agreement, until a total royalty payment of US$1,000,000 has been paid to Xali Gold, but royalty payments on production will continue past that point.
KCA will also be obligated to pay the Municipality of El Oro an 8% Net Profits Interest (“NPI”) on production from the Tailings or renegotiate this with the Municipality.
Xali Gold has the right to receive the first US$1.5M from the Municipality’s 8% NPI.
The Mexico Mine Tailings at El Oro contain an Inferred Resource* of 1,267,400 Tonnes grading 2.94 gold grams per tonne (“g/t”), 75.12 silver g/t containing 119,900 ounces of gold and 3,061,200 ounces of silver.
*Note: Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. All figures have been rounded to reflect the accuracy of the estimate. For more information, please see below.
About KCA
Since 1972, KCA has provided process metallurgical services to the international mining industry. KCA specializes in all aspects of heap leaching, cyanide processing, laboratory testing, project feasibility studies, engineering design, construction and operations management. KCA has worked in Mexico for many years and maintains an office in Chihuahua to serve its Mexican consulting clients. KCA was responsible for the construction management of several major projects in Mexico including Ocampo, Pinos Altos, and most recently the recovery plant of Orla’s Camino Rojo project. While the El Oro Tailings Project will be KCA’s first entrepreneurial mining venture in Mexico, KCA owns a gold mining project in the neighboring country of Guatemala and looks forward to making a success of the El Oro Tailings Project.
About Xali Gold
Xali Gold has gold and silver exploration projects in Peru and Mexico. El Oro is our main focus in Mexico. 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.
Mexican Mines Tailings Inferred Resource Estimate*
Classification
Tonnes
Gold (g/t)
Silver (g/t)
Ounces Gold
Ounces Silver
Inferred
1,267,400
2.94
75.12
119,900
3,061,200
*Note: Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
The estimate reflects the results of the auger and channel sampling program completed in May 2014 (see News Release 036 June 26, 2014) as compared with extensive historic assessments including drill testing and metallurgical test work. The 2014 verification sampling program of the 1990 historic results was completed through systematic sampling of the upper 3.0 metres of the tailings with a hand auger and vertically channel sampling the lower 5 to 10 metres of the tailings dump. In 1990, Luismin drilled 297.7 metres in 22 holes and in 1951, the Cooperativa de Las Dos Estrellas drilled 2162.7 metres in 184 holes. The mineral resources reported have been estimated using criteria consistent with the Canadian Institute of Mining and Metallurgy (“CIM”) Definition Standards (2014) and in conformity with the CIM “Estimation of Mineral Resources and Mineral Reserves Best Practice” (2003) guidelines. The contained metal figures shown are in-situ. No assurance can be given that the estimated quantities will be produced. All figures have been rounded to reflect accuracy and to comply with securities regulatory requirements. Some summations may not agree due to rounding. This reported Mineral Resource has an effective date of July 8th, 2014.
The Mexico Mine Tailings mineral resource was constrained on the west and north by an offset of 30m from an existing highway and is reported at a cut-off grade of 2.5 g/t gold equivalent (“AuEq”). Gold and silver recoveries used were 50% and 50% respectively. Metal prices used were 12-month rolling averages for: gold US$1,304.92/oz and silver US$20.67/oz. Mining and processing costs and G&A used were $7.00, $27.00 and $11.00 US per tonne respectively.
For more information see “National Instrument 43-101 Technical Report on the Inferred Mineral Resource Estimate of the Mexico Mine Tailings” prepared by Nadia Caira, P.Geo. and Allan Reeves, P.Geo., dated August 25, 2014 with an effective date of July 8, 2014 available at www.sedar.com
Joanne C. Freeze, P.Geo., President and CEO is a Qualified Person as defined by National Instrument 43-101 for the projects discussed above. Ms. Freeze has reviewed and approved the contents of this release.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Information
This news release may contain forward-looking information (as such term is defined under Canadian securities laws) including but not limited to the mineral resource estimate for the Mexico Mine Tailings and information regarding references to historical resource estimates, the potential for discovery on the El Oro Properties and other statements that are not historical facts, and the ability to pay mineral rights fees and fund exploration. While such forward-looking information is expressed by Xali Gold in good faith and believed by Xali Gold to have a reasonable basis, they 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
NR 128
IMPACT Silver Announces Full Year 2023 Results
Revenue Increased 27% to $20.7 Million
https://www.newsfilecorp.com/release/205671
April 16, 2024 11:28 AM EDT | Source: IMPACT Silver Corp.
Vancouver, British Columbia--(Newsfile Corp. - April 16, 2024) - IMPACT Silver Corp. (TSXV: IPT) (OTCQB: ISVLF) (FSE: IKL) ("IMPACT" or the "Company") announces its financial and operating results for the year ended December 31, 2023. The Company is recognized as an intermediate miner with strength across the value chain including production, growth and exploration potential. The Company is evolving from being a near pure play on silver with ongoing production across an extensive mining district at its Royal Mines of Zacualpan Silver district in central Mexico. In 2023, the Company acquired Mineral Latin America Zinc ("MLAZ"), a Mexican entity which owns and operates the Plomosas high grade zinc-lead-silver mine in northern Mexico; IMPACT brought limited production back online in late 2023 with the goal of reaching full design capacity in late 2024, leading to meaningful high-grade zinc production going forward.
The Company reported $20.8 million in revenue in FY 2023, an increase of 27% compared to revenues of $16.3 million in revenue in 2022, primarily due to a 178% increase in gold sales and a 22% increase in lead sales over 2022. Most of the revenue was generated from the Company's silver producing assets at the Royal Mines of Zacualpan. The mine's operating loss before amortization and depletion[1] in 2023 was ($0.6 million) compared to mine operating earnings of $1.2 million in 2022, and was negatively impacted due to strong inflationary cost pressures across the operation in 2023, as well as a strong Mexican Peso. This included operating costs of $2.1 million related to the rehabilitation of the Plomosas mine which impacted profitability, as those costs were required to be treated as expenses on the income statement rather than capitalized on the balance sheet. At December 31, 2023, the Company had cash of $8.3 million, working capital of $7.6 million and no debt.
Fred Davidson, President & CEO of IMPACT, stated, "In 2023, we were able to leverage our silver producing assets and add meaningful new gold production resulting in strong revenue growth on a year over year basis. We integrated the acquisition of the Plomosas mine and are in the process of bringing it back online and expect this high-grade zinc operation to meaningfully add to the Company's financial results going forward. Notwithstanding, inflationary pressures across the operation and throughout the supply chain, continued to negatively impact profitability. Nonetheless, the Company was able to maintain a strong balance sheet with over $8 million in cash and no debt at year-end. Our dual-pronged strategy focussing on maintaining production grade from existing and new development sites while simultaneously improving efficiencies at our mill, allowed for an overall successful year in 2023 despite the challenging operating environment."
In 2023, IMPACT carried out greenfield and brownfield exploration programs at Zacualpan where the Company holds a large 211km2 package. As well, we initiated drilling activity at Plomosas where management expects to ramp up to full design capacity in late 2024. Ongoing exploration at Zacualpan is expected to result in improved feed for the nearby Guadalupe processing facility while drilling at Plomosas includes development drilling and brownfield activity to expand the resource size over time.
With nearly 13 million ounces of silver produced since 2006, generating over $261 million in revenue and investing over $82 million in CAPEX to date, we are proud of our 2023 achievements amidst a challenging cost environment and look forward to returning to profitability and production growth in 2024.
2023 FINANCIAL OVERVIEW
Revenue in 2023 was $20.8 million, a 27% increase from $16.3 million in 2022
After investing $8.5 million in exploration expenditures and mining assets during the year, the cash position remained strong at year-end at $8.3 million with working capital of $7.6 million.
Net loss in 2023 was $7.6 million (which included $2.3 million incurred by MLAZ to bring operations online, as well as deferred income tax expenses of $2.0 million), compared to $3.2 million in 2022.
The Company has no long-term debt.
2023 PRODUCTION OVERVIEW - ZACUALPAN
2023 full year silver production was 637,514 ounces (2022 - 632,862 ounces).
Silver sales of 636,655 compared to 644,843 ounces in 2022. Gold sales of 780 ounces in 2023 increased 178% compared to 281 ounces in 2022.
Average mill silver feed grade was 160 grams per tonne (g/t) for 2023 which was comparable to 2022.
Throughput at the mill was 147,444 tonnes milled in 2023, down 4% from 152,862 tonnes in 2022, for an average of 404 tonnes per day for the year.
Given the evolving cost profile and fluctuating commodity prices during the year, the goal at the Guadalupe silver processing plant at Zacualpan in 2023 was to focus on lower cost, higher grade production. Lower but steady production tonnes allowed the Company to focus on mining higher margin areas in lower cost situations. Revenue per tonne sold improved by 30% to $136.62 in 2023 from $105.39 in 2022 due in part to the substantial increase in gold production.
Direct costs per production tonne were $130.58 in 2023, an increase of 34% from $97.49 during the same period in 2022, due to inflationary pressures, and a strong Mexican peso which increased 18% over the Canadian dollar. Management expects costs to stabilize in 2024 but with less volatility in Mexican peso.
PLOMOSAS
Following the acquisition of the Plomosas high grade zinc-lead-silver mine in April 2023, the Company embarked on an aggressive rehabilitation and upgrading program to bring the mine back online, which is expected to be completed in late 2024. During Q4 2023, there was limited production of 3,774 tonnes milled with an average mill head grade of 13.8% for zinc, with revenue per tonne of $141.51 milled
IFRS accounting rules stipulate that costs related to the start-up period of bringing the mine and plant back online be expensed on the income statement, rather than capitalized on the balance sheet and as a result, costs are not representative of a more normalized operating environment. As the Company reaches design capacity in 2024, costs per tonne are expected to decrease.
Historical mining makes Plomosas one of the highest grading zinc mines with approximately 2.5MT mined since 1943 grading 15-25% zinc, 2-7% lead and 40-60 g/t silver with low deleterious elements[2]. The 3,019-hectare property covers extensive carbonate replacement deposit-type ("CRD") zinc-lead-silver mantos (beds) mainly hosted in carbonates (limestones, marbles). The previous operator reported an historic Australian JORC compliant mineral resources[3] of 215,000 tonnes grading 13.5% zinc, 6.3% lead and 34.0 g/t silver (indicated), and 772,000 tonnes grading 13.1% zinc, 3.0% lead and 19.0 g/t silver (inferred), at a 3% zinc cutoff at December 2021.
GOING FORWARD
Going forward, the company intends to continue to invest resources in exploration and development at both of its mine sites. At the Zacualpan project, the Company is optimizing silver and gold production and continues to evaluate the restart of its Capire open pit silver mine to take advantage of strong silver pricing.
IMPACT crews are continuing to explore some of the 5,000+ old mine workings and prospects in the Zacualpan and Capire districts as well as exploring new areas to define drill targets. Exploration targets are defined and prioritized using a very large computer database complied over many years from historical maps and other technical data on the project.
At Plomosas, exploration activity is planned across the property with a target of expanding the size of the resource. Field work to date suggests that the high-grade portion of the known deposit extends and is open in all directions. On January 17, 2024, subsequent to 2023 year-end, IMPACT announced first drill results from surface exploration drilling at Plomosas including 6.9 metres (true width) of 10.22% Zinc, 5.43% Lead and 27.7g/t Silver on the south extension of the Tres Amigos Zone. Drilling is continuing to explore the Tres Amigos Zone with plans for initial drill programs on other explorations targets on the property in 2024.
CAPIRE VMS OPEN PIT MINE
The Capire open pit silver mine and 200 tonne per day processing plant is a separate operating unit located 16 kilometers south of the Guadalupe processing plant. The Capire unit is currently on care and maintenance but the Company is carrying out studies toward bringing it back into production. Previous 43-101 mineral resource studies on the Capire deposit have been evaluated with an inhouse review using the experience of a small test mining open pit operation in 2014. Other studies are being conducted with regard to critical infrastructure to determine optimum plant size for Capire operations and a 1,400 kilogram sample from the Capire open pit was tested using state of the art X-Ray transmission ("XRT") pre-concentration processing technology with encouraging results. XRT technology is a process that recognizes and sorts rocks based on the specific atomic density of the material. XRT sorts economic grade material, from waste reducing the amount of material to be processed during the milling process as well as tailings. The Company is currently evaluating the potential impact of XRT pre-concentration upon capital and operating costs, recoveries and the ultimate mineable size of the deposit and the current pilot plant.
A recorded conference call reviewing the financial and production results of the year ended December 31, 2023 will be available on the Company website on April 17th, 2023 at www.impactsilver.com/s/ConferenceCalls.asp.
The information in this news release should be read in conjunction with the Company's audited condensed consolidated Financial Statements and Management's Discussion and Analysis, available on the Company website at www.impactsilver.com and on SEDAR at www.sedar.com. All amounts are stated in Canadian dollars unless otherwise specified.
Qualified Person and NI 43-101 Disclosure
George Gorzynski, P.Eng., VP Exploration and a Director of IMPACT Silver Corp., is a "Qualified Person" within the meaning of NI 43-101 and has approved the technical information contained in this news release.
ABOUT IMPACT SILVER
IMPACT Silver Corp. (TSXV: IPT) is a successful producer-explorer with two mining projects in Mexico.
Royal Mines of Zacualpan Silver-Gold District: IMPACT owns 100% of the 211 km2 Zacualpan project in central Mexico where three underground silver mines and one open pit mine feed the central 500 tpd Guadalupe processing plant. To the south, the Capire Project includes a 200 tpd processing pilot plant adjacent to an open pit silver mine with an NI 43-101 inferred mineral resource of over 4.5 million oz silver, 48 million lbs zinc and 21 million lbs lead (see IMPACT news release dated January 18, 2016 for details and QP statement). Company engineers are reviewing Capire for a potential restart of operations. Over the past 18 years, IMPACT has placed multiple zones into commercial production and produced over 13 million ounces of silver, generating revenues over $261million, with no long-term debt.
Plomosas Zinc-Lead-Silver District: IMPACT has begun preliminary mining and processing operations at its 100% owned Plomosas high-grade zinc mine in northern Mexico. Exploration upside potential is exceptional where only 600m of the 6 km-long structure have seen modern exploration to date. This is in addition to other exploration targets on the 3,019-hectare property including untested copper-gold targets with indications of high-grade material from surface. Regionally, Plomosas lies in the same mineral belt as some of the largest carbonate replacement deposits in the world.
On behalf of IMPACT Silver Corp.
"Frederick W. Davidson"
President & CEO
For more information, please contact:
Jerry Huang
CFO | Investor Relations
(604) 664-7707 or inquiries@impactsilver.com
(778) 887 6489 Direct
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking and Cautionary Statements
This IMPACT News Release may contain certain "forward-looking" statements and information relating to IMPACT that is based on the beliefs of IMPACT management, as well as assumptions made by and information currently available to IMPACT management. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements include, but are not limited to, statements regarding interpretation of drill results, activity at the projects and estimated timing thereof, the potential for defining and extending the known mineralization, exploration potential on the properties, and plans for drilling and future operations at the Company's projects or plans for financing.
Such forward-looking information involves known and unknown risks and assumptions, including with respect to, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, criminal activity, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. IMPACT does not assume the obligation to update any forward-looking statement.
The Company's decision to place a mine into production, expand a mine, make other production related decisions or otherwise carry out mining and processing operations, is largely based on internal non-public Company data and reports based on exploration, development and mining work by the Company's geologists and engineers. The results of this work are evident in the discovery and building of multiple mines for the Company and in the track record of mineral production and financial returns of the Company since 2006. Under NI 43-101 the Company is required to disclose that it has not based its production decisions on NI 43-101 compliant mineral resource or reserve estimates, preliminary economic assessments or feasibility studies, and historically such projects have increased uncertainty and risk of failure.
[1] Mine operating earnings before amortization and depletion is a measure that the Company believes provides additional information regarding how the Company's operations are performing. This measure is calculated as revenues less operating expenses, excluding amortization and depletion. The Company's method of calculating these non-IFRS measures may differ from other entities, and accordingly, may not be comparable to measures used by other entities. Investors are cautioned, however, that these measures should not be construed as an alternative to measures determined in accordance with IFRS as an indicator of the Company's performance.
[2] Reference: Alexandri, A. Gonzalez, H., & Salas, H. (2022). Plomosas Project (CZL), Field Visit Report. IMPACT Silver Corp. private report on field visits and compilation of historic and recent data, 56 pages.
[3] Plomosas mineral resources were reported by Consolidated Zinc Ltd. (CZL:ASX) on their website ( ttps://www.consolidatedzinc.com.au) under the Australian JORC (2012) Code as mineral resources "depleted as at December 2021". IMPACT's Qualified Person has reviewed but not verified in detail these current reported mineral resources and is only reporting them as material recent mineral resources reported by CZL and available in the public record. IMPACT believes the estimates are relevant and reliable, given they are reported to Australian JORC standards; however, IMPACT's Qualified Person has not done sufficient work to classify them as current Canadian NI 43-101 mineral resources.
303-543 Granville Street
Vancouver, BC, Canada V6C 1X8
Telephone 604 664-7707
www.impactsilver.com
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SOURCE: IMPACT Silver Corp.
Minera Alamos Provides Santana Operations Update
https://www.newsfilecorp.com/release/205626
April 16, 2024 7:00 AM EDT | Source: Minera Alamos Inc.
Toronto, Ontario--(Newsfile Corp. - April 16, 2024) - Minera Alamos Inc. (TSXV: MAI) (the "Company" or "Minera Alamos") is pleased to report that further to its Santana operations update (see news release dated February 22, 2024) the Company's contractor mobilized at the Santana mine site at the beginning of April with mining activity at the Nicho Main zone to commence shortly. This followed the conclusion of discussions regarding the additional equipment and personnel required as operations begin to ramp up again at the mine.
The focus of contractor activities since the beginning of the month has been equipment maintenance and the preparation of additional haulage roads to maximize operational flexibility for the current mine plans. While the re-start of mining activities has been aided by the pre-stripping of the new deposit area in the past year, new operations will have a staggered start as access to multiple working areas increases and as the new pit opens up over time. The Company is also implementing new sampling procedures and controls in order to optimize conditions for the Nicho Main zone which exhibits somewhat different mineralogy than that at the Nicho Norte starter pit. This will include optimizations to blasting patterns to maximize fragmentation and gold recoveries, as well as crushing and in-pit sampling and sorting to ensure the best economic outcome. In addition, the Company is testing a new dust suppressant system to improve the overall air quality in active work areas while minimizing water consumption.
Overall, mining plans at the Nicho Main zone are aided by reduced hauling distances to the Santana leach pad compared to the Nicho Norte pit, and it is expected that this will allow for increases in both mining and stacking activities as the second quarter of 2024 progresses, the initial benefits of the which will be felt in Q3 and then continue throughout the next year (for more details please see the February 22nd news release).
Cautionary Statement
The Company made its production decision at the Santana gold mine without having completed a feasibility study demonstrating economic and technical viability. As such, there may be increased uncertainty of achieving planned production levels, estimated recovery of gold, the costs associated with such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure.
Mr. Darren Koningen, P. Eng., Minera Alamos' CEO, is the Qualified Person responsible for the technical content of this press release under National Instrument 43-101.
For Further Information Please Contact:
Minera Alamos Inc.
Doug Ramshaw, President
Tel: 604-600-4423
Email: dramshaw@mineraalamos.com
Victoria Vargas de Szarzynski, VP Investor Relations
Tel: 289-242-3599
Email: vvargas@mineraalamos.com
Website: www.mineraalamos.com
About Minera Alamos Inc.
Minera Alamos is a gold production and development Company undergoing the operational start-up of its first gold mine that produced its first gold in October 2021. The Company has a portfolio of high-quality Mexican assets, including the 100%-owned Santana open-pit, heap-leach mine in Sonora that is currently going through its operational ramp up. The 100%-owned Cerro de Oro oxide gold project in northern Zacatecas has considerable past drilling and metallurgical work completed and the proposed mining project is currently being guided through the permitting process by the Company's permitting consultants. The La Fortuna open pit gold project in Durango (100%-owned) has a positive, robust preliminary economic assessment (PEA) completed, and the main Federal permits are in place. Minera Alamos is built around its operating team that together brought three open pit heap leach gold mines into successful production in Mexico over the last 13 years.
The Company's strategy is to develop very low capex assets while expanding the projects' resources and continuing to pursue complementary strategic acquisitions.
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking information and Minera Alamos cautions readers that forward-looking information is based on certain assumptions and risk factors that could cause actual results to differ materially from the expectations of Minera Alamos included in this news release. This news release includes certain "forward-looking statements", which often, but not always, can be identified by the use of words such as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". These statements are based on information currently available to Minera Alamos and Minera Alamos provides no assurance that actual results will meet management's expectations. Forward-looking statements include timing, cost estimates and statements with respect to Minera Alamos' future plans, objectives and goals with respect to the Cerro de Oro gold mine including the receipt of permits and construction timeline, and the satisfaction by the Company of the closing conditions to draw the Remaining Amount. Since forward-looking statements are based on assumptions and address future events and conditions that, by their very nature involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, the economics of processing methods, project development, reclamation and capital costs of Minera Alamos' mineral properties, the ability to complete a preliminary economic assessment which supports the technical and economic viability of mineral production could differ materially from those currently anticipated in such statements for many reasons. Minera Alamos' financial condition and prospects could differ materially from those currently anticipated in such statements for many reasons such as: an inability to finance and/or complete an updated resource and reserve estimate and a preliminary economic assessment which supports the technical and economic viability of mineral production; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Minera Alamos' activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Minera Alamos' forward-looking statements. These and other factors should be considered carefully, and readers should not place undue reliance on Minera Alamos' forward-looking statements. Minera Alamos does not undertake to update any forward-looking statement that may be made from time to time by Minera Alamos or on its behalf, except in accordance with applicable securities laws.
The Company does not have a feasibility study of mineral reserves, demonstrating economic and technical viability for the Santana project, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE: Minera Alamos Inc.
Goldgroup Updates Cerro Prieto Gold Mine Operations
https://thenewswire.com/press-releases/1BQPFG0ZX-goldgroup-updates-cerro-prieto-gold-mine-operations.html
Vancouver, British Columbia (April 11, 2024), TheNewswire, Goldgroup Mining Inc. (“Goldgroup” or the “Company”) (TSXV:GGA, OTC:GGAZF,
Torex Gold Reports Q1 2024 Production Results
On track to deliver on full year production guidance following solid start to year
https://www.newsfilecorp.com/release/204939
April 10, 2024 6:00 PM EDT | Source: Torex Gold Resources Inc.
(All amounts expressed in U.S. dollars unless otherwise stated)
Toronto, Ontario--(Newsfile Corp. - April 10, 2024) - Torex Gold Resources Inc. (the "Company" or "Torex") (TSX: TXG)
Prime Discovers New High-Grade Shoot Containing 7.68 g/t gold-equivalent over 7.7 m
https://ca.finance.yahoo.com/news/prime-discovers-high-grade-shoot-100000931.html
Prime Mining Corp.
Updated Wed, April 10, 2024 at 4:17 a.m. PDT·14 min read
PRMNF
-5.10%
High gold grade area remains open, and continues at depth and along trend at Z-T
VANCOUVER, British Columbia, April 10, 2024 (GLOBE NEWSWIRE) -- Prime Mining Corp. (“Prime” or the “Company”) (TSX: PRYM) (OTCQX: PRMNF) (Frankfurt: 04V3)
GoGold Reports Quarterly Production at Parral of 375,745 Silver Equivalent Ounces
https://www.prnewswire.com/news-releases/gogold-reports-quarterly-production-at-parral-of-375-745-silver-equivalent-ounces-302112686.html
GoGold Resources Inc. 10 Apr, 2024, 07:30 ET
Shares Outstanding: 328,612,319
Trading Symbols: TSX: GGD
OTCQX: GLGDF
Gatos Silver Reports Q1 2024 Production Results at Top End of Guidance
https://ca.finance.yahoo.com/news/gatos-silver-reports-q1-2024-000000498.html
Gatos Silver, Inc.
Tue, April 9, 2024 at 5:00 p.m. PDT·5 min read
GATO
+3.33%
VANCOUVER, British Columbia, April 09, 2024 (GLOBE NEWSWIRE) -- Gatos Silver, Inc. (NYSE/TSX: GATO)
Endeavour Silver Delivers Strong Production in Q1 2024
https://ca.finance.yahoo.com/news/endeavour-silver-delivers-strong-production-105000288.html
Endeavour Silver Corporation
Tue, April 9, 2024 at 3:50 a.m. PDT·4 min read
EXK
-0.36%
VANCOUVER, British Columbia, April 09, 2024 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR
Guanajuato Silver Reports Year End 2023 Financial Results
https://www.accesswire.com/851213/guanajuato-silver-reports-year-end-2023-financial-results
Monday, 08 April 2024 05:25 PM
VANCOUVER, BC / ACCESSWIRE / April 8, 2024 / Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR)(AQUIS:GSVR)(OTCQX:GSVRF)
Pan American Silver reports additional high-grade drill results from the La Colorada Skarn project
https://ca.finance.yahoo.com/news/pan-american-silver-reports-additional-050000539.html
Business Wire
Sun, April 7, 2024 at 10:00 p.m. PDT
Guanajuato Silver Reports Best Ever Quarterly Production
https://www.accesswire.com/850430/guanajuato-silver-reports-best-ever-quarterly-production
Friday, 05 April 2024 06:38 AM
~ Q1 Silver-Equivalent Production Up 16.1% Over Previous Quarter ~
VANCOUVER, BC / ACCESSWIRE / April 5, 2024 / Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR)(OTCQX:GSVRF)
Kingsmen Resources: Soledad Mine Area Multi Element Sample Analysis Yields Significant Results
https://www.newsfilecorp.com/release/204222
April 04, 2024 8:30 AM EDT | Source: Kingsmen Resources Ltd
Vancouver, British Columbia--(Newsfile Corp. - April 4, 2024) - Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF)
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