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Tocvan Reports on Progress of the Pilar Gold - Silver Project
https://www.accesswire.com/880030/tocvan-reports-on-progress-of-the-pilar-gold-silver-project
Friday, 21 June 2024 02:01 AM
Highlights:
Total of 3,268 meters drilled from 26 RC Drillholes
Results pending for 11 drillholes totaling 1,442.8 meters
Summer Surface Mapping, Rock and Soil Sampling Planned Across Southern Block of Expansion Area
Definition of Expansion Area Footprint; Mine Development Planning
Placer Miners Open Up New Area in Northern Expansion Block Expanding Target Potential
CALGARY, AB / ACCESSWIRE / June 21, 2024 / Tocvan Ventures Corp. (the "Company") (CSE:TOC)(OTCQB:TCVNF)(FSE:TV3), is pleased to provide a progress update from its 2024 Reverse Circulation (RC) drill program at its road accessible Pilar Gold-Silver project in mine-friendly Sonora, Mexico.
To date, the 2024 drill program has completed 3,268 meters across 26 drill holes. Results for eleven drill holes are currently pending analysis (green squares on Figure 1). Drilling at Pilar has been paused to allow for the review of results and assess the summer weather conditions. A second drilling rig for core is being contemplated for later this year to expedite the build out of a robust geological model and accompany the remaining infill and step out drill holes for resource estimation.
"We are extremely pleased with the progress of the 2024 drill program, having completed 3.3 kilometers of the planned seven kilometers of drilling at Pilar already." commented Brodie Sutherland, CEO. "So far this year, we have hit the most significant step-outs ever at Pilar. With more results pending we are looking forward to the remaining half of the year. To enhance our understanding of Pilar and build out our geologic model, core drilling will be implemented again at Pilar. In 2022, an initial core program yielded some of the best results ever from the Main Zone, we look to continue that work this year. Across the broader expansion area numerous targets are taking shape, our focus will be on the immediate expansion of Pilar and defining new areas of mineralization along with areas suitable for mine development infrastructure. There is a large footprint to sample, and we are excited to display the ultimate scale of Pilar."
Current placer mining activity has increased along a new corridor heading northeast along the central part of the property (Figure 2). The new activity indicates another prospective area exists where no sampling data has been collected. The Company will evaluate the area for potential targeting. Across the Northern Alteration Zone (Figures 2 and 3) a major producer has been focused evaluating the exploration potential of the area. The Company is encouraged by their initial observations. An additional two weeks of work is expected across the expansive area.
Summer Field Operations
Work will be ongoing at Pilar during the summer months with an emphasis on detailed surface evaluation of the geology and geochemistry of the expansion area. Initial rock sampling and mapping has provided key evidence for a much larger mineralized footprint at Pilar. The same volcanic andesite host rock is present across the southern block hosting the same vein, breccia and disseminated mineralization as seen at the Main Zone. Recently built roads have provided new access to the area. Sampling so far has defined an elevated footprint of gold and silver 2.5x larger than the current extent of drilling at Pilar. Mineralization remains open to the north and east across the southern block. Grid soil sampling along with mapping and rock chip sampling will be completed across the area to better define the extents of mineralization. Later in the year the Company is evaluating a UAV based magnetics survey to further assist in the definition of fault structures and alteration. The objective of the surface work will be to: 1) Further define drill targets across the expansion area for additional resource potential; 2) Identify areas with no significant mineralization adequate for leach pads, tailings and other mine infrastructure including processing facilities.
Plate 1. A. Company management meeting with local community stakeholders to discuss plans for 2024 and beyond. B. Project Manager, Isaac Ortega touring local geologist on the expansion area. C. Intense clay alteration at the northern extent of the expansion area. D. Gold from Pilar.
Figure 1. Summary map of drill highlights and surrounding surface results.
Figure 2. Pilar Project Planview map showing the southern block made up of the Pilar Main Zone and the newly discovered placer source with additional gold-silver mineralization extending to the south. Within the northern block, a large alteration zone that spans 3.3 km by 1.5 km (North Alteration Zone) has returned high-grade gold and silver values in the first few sampling programs across the newly acquired area.
Figure 3. Aerial view of the North Alteration Zone where the first two and only samples collected to date returned up to 3.2 g/t Au and 1,225 g/t Ag associated with old underground workings tied to a large area of advanced argillic alteration. The broader North Alteration Zone extends for over 3.3 kilometers in length and is 1.5 kilometers wide.
About the Pilar Property
The Pilar Gold-Silver property has returned some of the regions best drill results. Coupled with encouraging gold and silver recovery results from metallurgical test work, Pilar is primed to be a potential near-term producer. Pilar is interpreted as a structurally controlled low-sulphidation epithermal system hosted in andesite rocks. Initially three primary zones of mineralization were identified on the original property from historic surface work and drilling and are referred to as the Main Zone, North Hill and 4-T. Each trend remains open to the southeast and north and new parallel zones have been discovered. Structural features and zones of mineralization within the structures follow an overall NW-SE trend of mineralization. Mineralization extends along a 1.2-km trend, only half of that trend has been drill tested so far. The Company has now expanded its interest in the area by consolidating 22 square-kilometers of highly prospective ground where it has already made significant surface discoveries.
Pilar Drill Highlights:
2022 Phase III Diamond Drilling Highlights include (all lengths are drilled thicknesses):
116.9m @ 1.2 g/t Au, including 10.2m @ 12 g/t Au and 23 g/t Ag
108.9m @ 0.8 g/t Au, including 9.4m @ 7.6 g/t Au and 5 g/t Ag
63.4m @ 0.6 g/t Au and 11 g/t Ag, including 29.9m @ 0.9 g/t Au and 18 g/t Ag
2021 Phase II RC Drilling Highlights include (all lengths are drilled thicknesses):
39.7m @ 1.0 g/t Au, including 1.5m @ 14.6 g/t Au
47.7m @ 0.7 g/t Au including 3m @ 5.6 g/t Au and 22 g/t Ag
29m @ 0.7 g/t Au
35.1m @ 0.7 g/t Au
2020 Phase I RC Drilling Highlights include (all lengths are drilled thicknesses):
94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;
41.2m @ 1.1 g/t Au, including 3.1m @ 6.0 g/t Au and 12 g/t Ag;
24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/t Ag
15,000m of Historic Core & RC drilling. Highlights include:
21.0m @ 38.3 g/t Au and 38 g/t Ag
13.0m @ 9.6 g/t Au
9.0m @ 10.2 g/t Au and 46 g/t Ag
61.0m @ 0.8 g/t Au
Pilar Bulk Sample Summary:
62% Recovery of Gold Achieved Over 46-day Leaching Period
Head Grade Calculated at 1.9 g/t Au and 7 g/t Ag; Extracted Grade Calculated at 1.2 g/t Au and 3 g/t Ag
Bulk Sample Only Included Coarse Fraction of Material (+3/4" to +1/8")
Fine Fraction (-1/8") Indicates Rapid Recovery with Agitated Leach
Agitated Bottle Roll Test Returned Rapid and High Recovery Results: 80% Recovery of Gold and 94% Recovery of Silver after Rapid 24-hour Retention Time
Additional Metallurgical Studies:
Gravity Recovery with Agitated Leach Results of Five Composite Samples Returned
95 to 99% Recovery of Gold
73 to 97% Recovery of Silver
Includes the Recovery of 99% Au and 73% Ag from Drill Core Composite at 120-meter depth.
About Tocvan Ventures Corp.
Tocvan is a well-structured exploration and development company. Tocvan was created in order to take advantage of the prolonged downturn in the junior mining exploration sector, by identifying and negotiating interest in opportunities where management feels they can build upon previous success. Tocvan has approximately 51 million shares outstanding and is earning into two exciting opportunities in Sonora, Mexico. The Company has consolidated an attractive land position at its Pilar Gold-Silver Project where it holds 100% interests in over 21 square kilometers of prospective area and a majority ownership (51%) in a one square kilometer area shared with Colibri Resources. The Company also holds 100% interest in the Picacho Gold-Silver project in the Caborca Trend of northern Sonora, a trend host to some of the major gold deposits of the region. Management feels both projects represent tremendous opportunity to create shareholder value.
Quality Assurance / Quality Control
Samples were shipped for sample preparation to ALS Limited in Hermosillo, Sonora, Mexico and for analysis at the ALS laboratory in North Vancouver. The ALS Hermosillo and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Gold was analyzed using 50-gram nominal weight fire assay with atomic absorption spectroscopy finish. Over limits for gold (>10 g/t), were analyzed using fire assay with a gravimetric finish. Silver and other elements were analyzed using a four-acid digestion with an ICP finish. Over limit analyses for silver (>100 g/t) were re-assayed using an ore-grade four-acid digestion with ICP-AES finish. Control samples comprising certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's robust quality assurance / quality control protocol.
Brodie A. Sutherland, CEO for Tocvan Ventures Corp. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.
Cautionary Statement Regarding Forward Looking Statements
Neither the Canadian Securities Exchange nor its regulation services provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking information in this news release includes statements regarding the use of proceeds from the Offering. Such forward-looking information is often, but not always, identified by the use of words and phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company's business, the Company's formative stage of development and the Company's financial position. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws.
There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
For more information, please contact:
TOCVAN VENTURES CORP.
Brodie A. Sutherland, CEO
820-1130 West Pender St.
Vancouver, BC V6E 4A4
403-829-9877
bsutherland@tocvan.ca
The Howard Group
Jeff Walker
VP Howard Group Inc.
403-221-0915
jeff@howardgroupinc.com
SOURCE: Tocvan Ventures Corp
Ranchero Announces Closing of the Sale of Its Santa Daniela Property and Receipt of US$1,892,000
https://ca.finance.yahoo.com/news/ranchero-announces-closing-sale-santa-213000990.html
Ranchero Gold Corp.
Wed, June 19, 2024 at 2:30 p.m. PDT·4 min read
AGI
+2.20%
RNCHF
0.00%
VANCOUVER, British Columbia, June 19, 2024 (GLOBE NEWSWIRE) -- Ranchero Gold Corp. (“Ranchero” or the “Company”) (TSX.V: RNCH) is pleased to announce that its wholly-owned subsidiary Minera y Metalurgia Paika, S.A. de C.V. (“Paika”) has closed the sale of four mineral licenses (the “Licenses”) of the Santa Daniela project, as announced in the Company’s press release dated December 27, 2023, to Minas de Oro Nacional, S.A. de C.V. (“Minas de Oro”), a wholly-owned subsidiary of Alamos Gold Inc. (TSX:AGI). The Company has received a total of US$2,550,000 for the sale of Paika’s interest in the Licenses, of which US$658,000 was paid on signing of a letter of intent and a further US$1,892,000 on closing, following official transfer of the Licenses to Minas de Oro.
Additionally, in the event that Minas de Oro declares a Mineral Reserve of, or mines, greater than 500,000 ounces of gold within the Licenses, a further payment of US$2,500,000 will be due to Paika from Minas de Oro (the “Conditional Payment”).
Going forward, the Company will focus its efforts on exploring the Pinchi Lake nickel project as well as opportunistically looking at new projects.
In connection with the sale of the Licenses, the Company will pay a finder’s fee to an arm’s length party (the “Finder”) for facilitating the introduction of the Company to Alamos Gold Inc. and the discussions between the parties in negotiating the terms for the sale of the Licenses. The Finder will receive a cash finder’s fee of US$63,750 and 2,589,231 common shares of the Company (each, a “Common Share”). Additionally, if the Company receives the Conditional Payment, the Finder will receive an additional cash finder’s fee of US$62,500 and up to 2,777,500 Common Shares valued at US$62,500, subject to a minimum issue price of Cdn$0.03 per Common Share. The Common Shares issuable to the Finder will be subject to a four-month hold period from the date of issuance in accordance with applicable securities laws.
The sale of the Licenses and the finder’s fee remains subject to the final approval of the TSX Venture Exchange.
About Ranchero Gold
Ranchero is an exploration and development company currently focused on the Pinchi Lake Nickel Project (the “Pinchi Project”). Ranchero can earn a 100% interest in the Pinchi Project, consisting of six mineral claims totaling 3,917 hectares, situated approximately 15 to 30 km northwest of Fort St. James and 120 km northwest of Prince George in central British Columbia.
On behalf of the Board of Directors of the Company:
Jesus Noriega
Interim Chief Executive Officer and Director
For further information, please contact:
Jesus Noriega
Interim Chief Executive Officer and Director
52 1 (662) 437 8520
info@rancherogold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements
This news release contains certain forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate” “plans”, “estimates” or “intends” or stating that certain actions, events or results “ may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), or that are not statements of historical fact, may be “forward-looking statements”. Forward-looking statements contained in this news release include, but are not limited to, statements regarding the Conditional Payment, payment of the finder’s fee and the Company’s exploration plans.
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements. These risks and uncertainties include but are not limited to: risks related to regulatory approval, risks related to financial markets and mining companies generally, and risks related to changes in foreign laws and changing policies related to mining and local ownership requirements or resource nationalization generally. There can be no assurance that forward-looking statement will prove to be accurate, and actual results and future events could differ materially from those anticipate in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
Silver Bull Files Memorial in Claim Against Mexico
https://www.accesswire.com/878936/silver-bull-files-memorial-in-claim-against-mexico
Tuesday, 18 June 2024 05:00 PM
VANCOUVER, BC / ACCESSWIRE / June 18, 2024 / Silver Bull Resources, Inc. ("Silver Bull" or the "Company") provides an update on progress with its international arbitration claim against the United States of Mexico ("Mexico").
Silver Bull announces it has filed its memorial submission against Mexico setting out a damages claim of US$408 million under the Agreement between the United States of America, Mexico, and Canada (the "USMCA") and the North American Free Trade Agreement ("NAFTA"):
The arbitration arises from Mexico's unlawful expropriation and other unlawful treatment of Silver Bull by the Mexican Government resulting in a total loss of its investment due to an illegal blockade of Silver Bull's Sierra Mojada project that began in September 2019 and continues to this day.
On June 17, 2024, Silver Bull filed its Memorial submission with ICSID detailing the claim against Mexico as well as damages for the sum of US$408 million. The Arbitration hearing is set to commence in October 2025.
Silver Bull engaged a quantum expert from Berkeley Research Group to assess the Company's damages. This evaluation serves as the foundation for determining the value of Silver Bull's Claim against Mexico.
A three-person arbitration panel (the "Tribunal") by the International Centre for Settlement of Investment Disputes ("ICSID") has been confirmed, with the Tribunal having convened its first session with the parties on February 13, 2024.
The Company has hired Boies Schiller Flexner (UK) LLP ("BSF") as Legal counsel for the Claim. BSF is an international law firm with extensive experience in international investment arbitration concerning mining and other natural resources, to act on its behalf. The BSF Team is being led by Timothy L. Foden, a noted practitioner in the mining arbitration space.
Silver Bull is financially supported by Bench Walk Advisors LLC via a Litigation Funding Agreement ("LFA") for up to US$9.5 million to finance the case and the running of the Company.
Silver Bull's CEO, Mr. Tim Barry commented, "Whilst it had been Silver Bull's intention to continue developing the Sierra Mojada Project, an illegal blockade by a local mining cooperative trying to force an underserved royalty payment from the Company began in September 2019 and continues to this day. Despite multiple favourable rulings by the Mexican Courts that Silver Bull did not owe the blockaders a royalty payment, and numerous requests to the Mexican Government to uphold the law and end the illegal blockade, the Government failed to take any action, preventing Silver Bull from accessing the site for over four years and preventing the Company from conducting its lawful business in Mexico. That failure to act was a breach of Mexico's obligations under the NAFTA. This has resulted in the total loss of Silver Bull's investment and total destruction of shareholder value at Sierra Mojada..
The substantial litigation funding secured under the LFA is a testament to the strength of Silver Bull's claims. The US$9.5 million funding facility is non-dilutive to Silver Bull shareholders and is expected to cover the full legal costs of the claim, expert, and ancillary costs, as well as Silver Bull's operating expenses. Bench Walk will have a contingent entitlement to damages in the event that damages are awarded ".
BACKGROUND TO THE CLAIM: The arbitration has been initiated under the Convention on the Settlement of Investment Disputes between States and Nationals of Other States process, which falls under the auspices of the World Bank's International Centre for Settlement of Investment Disputes (ICSID), to which Mexico is a signatory.
Silver Bull officially notified Mexico on March 2, 2023 of its intention to initiate an arbitration owing to Mexico's breaches of NAFTA by unlawfully expropriating Silver Bull's investments without compensation, failing to provide Silver Bull and its investments with fair and equitable treatment or full protection and security, and not upholding NAFTA's national treatment standard.
Silver Bull held a meeting with Mexican government officials in Mexico City on May 30, 2023, in an attempt to explore amicable settlement options and avoid arbitration. However, the 90-day period for amicable settlement under NAFTA expired on June 2, 2023, without a resolution.
Despite repeated demands and requests for action by the Company, Mexico's governmental agencies allowed the unlawful blockade to continue, thereby failing to protect Silver Bull's investments. Consequently, Silver Bull will seek to recover, based on the Quantum Expert's evaluation, an amount of US$408 million in damages that it has suffered due to Mexico's breach of its obligations under NAFTA.
THE SIERRA MOJADA DEPOSIT: Silver Bull's only current property is the Sierra Mojada deposit located in Coahuila, Mexico. Sierra Mojada is an open pittable oxide deposit with a NI 43-101 compliant Measured and Indicated "global" Mineral Resource of 70.4 million tonnes grading 3.4% zinc and 38.6 g/t silver for 5.35 billion pounds of contained zinc and 87.4 million ounces of contained silver. Included within the "global" Mineral Resource is a Measured and Indicated "high grade zinc zone" of 13.5 million tonnes with an average grade of 11.2% zinc at a 6% cutoff, for 3.336 billion pounds of contained zinc, and a Measured and Indicated "high grade silver zone" of 15.2 million tonnes with an average grade of 114.9 g/t silver at a 50 g/t cutoff for 56.3 million contained ounces of silver. Mineralization remains open in the east, west, and northerly directions.
For a full summary of the Sierra Mojada resource, please refer to Silver Bull's news release located at the following link:
https://www.silverbullresources.com/news/silver-bull-resources-announces-5.35-billion-pounds-zinc-87.4-million-ounces-silver-in-updated-sierra-mojada-measured-and/
On behalf of the Board of Directors
"Tim Barry"
Tim Barry, CPAusIMM
President and Chief Executive Officer and Director
INVESTOR RELATIONS:
1 604 687 5800 info@silverbullresources.com
Cautionary note regarding forward looking statements: This news release may contain certain information that is forward-looking and is subject to important risks and uncertainties (such statements include statements regarding the final approval of the Private Placement by the Exchange and other statements implying a future state which are usually accompanied by words such as "anticipate", "expect", "believe", "may", "will", "should", "estimate", "intend" or other similar words). Any forward-looking statements in this document are intended to provide Silver Bull security holders and potential investors with information regarding Silver Bull, including management's assessment of Silver Bull's future plans and financial outlook. Any forward-looking statements reflect Silver Bull's beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. As actual results could vary significantly from the forward-looking information, you should not put undue reliance on forward-looking information and should not use future-oriented information or financial outlooks for anything other than their intended purpose. There is no guarantee that the Company will be successful in obtaining Exchange approval in respect of the Private Placement, that any investors shall invest in the Private Placement on the terms outlined herein or at all. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the Company's filings under Silver Bull's profile on SEDAR+ at www.sedarplus.ca and with the U.S. Securities and Exchange Commission at www.sec.gov. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements. Any forward-looking statement made by us in this news release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
SOURCE: Silver Bull Resources, Inc.
Xali Gold: Drilling Commences at the El Oro Tailings Project in Mexico
https://ca.finance.yahoo.com/news/drilling-commences-el-oro-tailings-110000384.html
Xali Gold Corp.
Mon, June 17, 2024 at 4:00 a.m. PDT·4 min read
CGDXF
0.00%
VANCOUVER, British Columbia, June 17, 2024 (GLOBE NEWSWIRE) -- Xali Gold Corp. (TSXV:XGC) ("Xali Gold” or “the Company”) is pleased to announce that a 20 hole sonic drill program has commenced on the Mexican Mine Tailings Reprocessing Project (“Tailings Reprocessing”) at El Oro in Mexico (the “El Oro Tailings Project”). Drilling is being carried out by Major Drilling Group International for the purpose of taking a representative sample, which will be used in metallurgical test work to confirm the process flowsheet.
As per Xali Gold News Releases dated April 15, 2024 and May 16, 2024, the Company signed a Letter of Intent to enter a Purchase Agreement with Kappes, Cassiday & Associates (“KCA”), who have teamed up with Starcore International Mines Ltd. (“Starcore”) to put into production our environmental rehabilitation project to clean up the Mexico Mines Tailings in El Oro. Once production begins on the El Oro Tailings Project, KCA will pay Xali Gold a gross royalty equal to 4% of the sales income received from all gold and silver produced, less any royalties due and payable to others (the Municipality of El Oro), but in no case less than a 3% gross royalty.
Starcore has joined forces with KCA to launch an environmental rehabilitation project to clean up mine tailings from the municipality of El Oro in Mexico. The two groups have agreed to form a joint venture, with KCA contributing its expertise and services for the project aimed at rehabilitating the environment, while Starcore assumes the role of Operator and Financier for the joint venture.
“We are very pleased that significant work has commenced so quickly on the El Oro Tailings Project,” says Joanne Freeze, President and CEO of Xali Gold. “The fact that KCA is using Starcore’s already permitted mine plant site nearby for the reprocessing, has potential to allow us to get the El Oro Tailings Project running sooner than expected.”
The tailings were the subject of a National Instrument 43-101 Resource Study in 2014 which reported that the tailings contain an Inferred Mineral Resource Estimate* of 1.27M tonnes at a grade of 2.94 grams per tonne (“gpt”) gold and 75.12 gpt silver (3.85 gpt gold equivalent) containing 119,900 ounces of gold and 3,061,200 ounces of silver. KCA’s recent work has resulted in an estimated recovery of over 75% of the gold and silver. These results are on composites which did not access the full depth of the tailings. While the data indicates that the tailings are mineralogically uniform, the new drill program is designed to provide samples to confirm this assumption. The Mexico Mine tailings are situated on land owned by the Municipality of El Oro. El Oro is one of the towns designated as “Pueblo Magico” near Mexico City. Cleanup of these tailings will eliminate potential environmental risks while releasing a large block of land which the Municipality can use for further development.
*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 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.
About Xali Gold
Xali Gold has gold and silver projects in Peru and Mexico. The Company’s flagship project El Oro is a district scale gold project encompassing a well-known prolific high-grade gold dominant gold-silver epithermal vein system in Mexico. The project covers 20 veins with past production and more than 57 veins in total, from which approximately 6.4 million ounces of gold and 74 million ounces of silver were reported to have been produced from just two of these veins (Ref. Mexico Geological Service Bulletin Nr. 37, Mining of the El Oro and Tlapujahua Districts. 1920, T. Flores).
Modern understanding of epithermal vein systems indicates that several of the El Oro district’s veins hold excellent discovery potential, particularly below and adjacent to the historic workings of the San Rafael Vein, which was mined to an average depth of only 200m.
Xali Gold is dedicated to being a responsible Community partner.
Joanne C. Freeze, P.Geo., President and CEO is the Qualified Person as defined by National Instrument 43-101 for the projects discussed above. Ms. Freeze has reviewed and approved the contents of this release.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Information
This news release may contain forward-looking information (as such term is defined under Canadian securities laws) including but not limited to historical production records and resource estimates. While such forward-looking information is expressed by Xali Gold in good faith and believed by Xali Gold to have a reasonable basis, they may address future events and conditions and are therefore subject to inherent risks and uncertainties including those set out in Xali Gold’s MD&A. Factors that cause the actual results to differ materially from those in forward-looking information include, without limitation, gold and silver 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
Silver Tiger Intersects from Surface 79.5 Metres of 1.13 g/t Gold Equivalent Including 35.4 Metres of 2.07 g/t Gold Equivalent in the Stockwork Deposit
https://www.accesswire.com/878206/silver-tiger-intersects-from-surface-795-metres-of-113-gt-gold-equivalent-including-354-metres-of-207-gt-gold-equivalent-in-the-stockwork-deposit
Tuesday, 18 June 2024 07:00 AM
HALIFAX, NS / ACCESSWIRE / June 18, 2024 / Silver Tiger Metals Inc. (TSXV:SLVR)(OTCQX:SLVTF)
Almaden Files Request for Arbitration Against Mexico with International Centre for Settlement of Investment Disputes
https://ca.finance.yahoo.com/news/almaden-files-request-arbitration-against-110000099.html
Almaden Minerals Ltd.
Mon, June 17, 2024 at 4:00 a.m. PDT·5 min read
AAUAF
+10.58%
VANCOUVER, British Columbia, June 17, 2024 (GLOBE NEWSWIRE) -- Almaden Minerals Ltd. (together with its Mexican Subsidiary, Minera Gorrión S.A. de C.V., “Almaden” or “the Company”; TSX: AMM; OTCQB: AAUAF) announces that it has commenced international arbitration proceedings against the United Mexican States (“Mexico”) under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (“CPTPP”).
The Company’s international arbitration claim against Mexico will be prosecuted pursuant to the established and enforceable legal framework of the International Centre for Settlement of Investment Disputes (“ICSID”). Almaden alleges that Mexico has breached its obligations under the CPTPP through actions which blocked the development of the Ixtaca project and ultimately retroactively terminated the Company’s mineral concessions, causing the loss of the Company’s investments in Mexico.
Almaden initiated the six-month consultation period required under the CPTPP on December 13, 2023. Mexico agreed to hold one consultation meeting, which took place on May 30, 2024, but it did not result in an amicable resolution of the Company’s investment dispute. The Company filed notice of its intention to submit a claim to arbitration against Mexico under the CPTPP on March 14, 2024, triggering a 90-day notice period prior to filing. With this notice period now over, the Company has filed its Request for Arbitration with ICSID.
Duane Poliquin, Chair of Almaden, stated “This is clearly not a desirable outcome for our tremendous discovery back in 2010. With the announcement of the feasibility study in 2018, the Ixtaca project was poised to become a significant success for shareholders, local communities, and Mexico. The Company followed best international standards and practices, including through adoption of dry stack filtered tailings, ore-sorting, and water management plans that could have improved water availability for local communities. Our human rights due diligence was second to none and kept pace with the technical evolution of the project, culminating in a Human Rights Impact Assessment completed to the highest international standards. We are problem solvers and sought to resolve each challenge presented by Mexico, up until the point the Mexican government cancelled our concessions. This leaves us with no alternative but to pursue international arbitration. We regret this outcome for shareholders, who may still see some benefit from the discovery as we pursue this arbitration. However I lament most heavily this outcome for local people, whom we have worked very closely with over the past two decades, and who have become our friends. They now stand to gain nothing from the Ixtaca project which was developed and designed with their assistance.”
About the Ixtaca Project and the Company’s Damages Claim
The Company discovered the Ixtaca project in 2010, and ultimately completed a feasibility study on the project, filing the technical report in 2019. Highlights of the project included the following:
Average annual production of 108,500 ounces gold and 7.06 million ounces silver (203,000 gold equivalent ounces, or 15.2 million silver equivalent ounces) over first 6 years;
After-tax IRR of 42% and after-tax payback period of 1.9 years;
Conventional open pit mining with a proven and probable mineral reserve of 1.39 million ounces of gold and 85.2 million ounces of silver;
All-in Sustaining Costs (“AISC”), including operating costs, sustaining capital, expansion capital, private and public royalties, refining and transport of $850 per gold equivalent ounce, or $11.30 per silver equivalent ounce;
Dry stack filtered tailings facility, and co disposal with waste rock with no tailings dam;
A fresh water storage dam for mine and community use, enhancing community access to a fresh water reservoir beyond closure;
Testing showed the host limestone “waste” rock and flotation tailings were neutralising and had low potential for metal leaching. Both products could have had commercial uses such as aggregate and cement feed;
Had the project proceeded, economic contributions were estimated to include approximately 600 direct jobs during the peak of construction and 420 jobs throughout the 11 year mine life. Assuming base case metal prices, the project could have generated approximately US$130 million in Federal taxes, US$50 million in State taxes and US$30 million in Municipal taxes and provide updated infrastructure to a marginalised region.
(All values shown are in $US; Base case uses $1275/oz gold and $17/oz silver prices. Gold and silver equivalency calculations assumed 75:1 ratio. Proven mineral reserves were comprised of 31.6 million tonnes grading 0.70 g/t gold and 43.5 g/t silver. Probable mineral reserves were comprised of 41.4 million tonnes grading 0.51 g/t gold and 30.7 g/t silver. The cut-off grade used for ore/waste determination was NSR>=$14/t. Associated metallurgical recoveries (gold and silver, respectively) were estimated as 90% and 90% for limestone, 50% and 90% for volcanic, 50% and 90% for black shale).
As part of the CPTPP requirements, although still at an early stage in the arbitration process, the Company must submit an initial and preliminary estimate of damages claimed. As noted in the Company’s press release of March 14, 2024, Almaden is pursuing this arbitration together with Almadex Minerals Ltd., on behalf of themselves and their Mexican subsidiaries, and based on a preliminary estimate will be seeking damages of no less than US$200 million, in the aggregate.
As the arbitration proceeds, the Company expects to appoint a quantum expert who will prepare a professional damages assessment for review by the arbitration tribunal. The Company will update shareholders as this process evolves.
The Company has engaged international arbitration counsel at Boies Schiller Flexner to act on its behalf.
On behalf of the Board of Directors,
“J. Duane Poliquin”
J. Duane Poliquin
Chair
Almaden Minerals Ltd.
Safe Harbor Statement
Certain of the statements and information in this news release constitute “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 provincial securities laws. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things, the appointment of a quantum expert and the result and damages arising from the Company’s request for arbitration.
These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant legal, regulatory, business, operational and economic uncertainties and contingencies, and such uncertainty generally increases with longer-term forecasts and outlook. These assumptions include: stability and predictability in Mexico’s response to the arbitration process under the CPTPP; stability and predictability in the application of the CPTPP and arbitral decisions thereon; the ability to finance the arbitration process, and continued respect for the rule of law in Mexico. The foregoing list of assumptions is not exhaustive.
The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release. Such risks and other factors include, among others, risks related to: the application of the CPTPP and arbitral decisions thereon; continued respect for the rule of law in Mexico; political risk in Mexico; crime and violence in Mexico; corruption in Mexico; treatment of environmental matters and indigenous consultation under Mexican laws and regulations; impact of environmental impact assessment requirements on the Company’s planned exploration and development activities on the Ixtaca project; uncertainty as to the outcome of arbitration; community relations; governmental regulations; risks related to mineral properties being subject to prior unregistered agreements, transfers or claims and other defects in title; changes in mining, environmental or agrarian laws and regulations and changes in the application of standards pursuant to existing laws and regulations; as well as those factors discussed the section entitled "Risk Factors" in Almaden's Annual Information Form and Almaden's latest Form 20-F on file with the United States Securities and Exchange Commission in Washington, D.C. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events or results to differ materially from those described in forward-looking statements or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that our forward-looking statements or information will prove to be accurate. Accordingly, readers should not place undue reliance on forward-looking statements or information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to on forward-looking statements or information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contact Information:
Almaden Minerals Ltd.
Tel. 604.689.7644
Email: info@almadenminerals.com
http://www.almadenminerals.com/
Riverside Resources Expands Ariel Copper Project with Acquisition of Adjacent Maria Luisa Copper Property, Sonora, Mexico
https://www.newsfilecorp.com/release/213254
June 17, 2024 6:00 AM EDT | Source: Riverside Resources Inc.
Vancouver, British Columbia--(Newsfile Corp. - June 17, 2024) - Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY)
Luca Sets up for a Strong 2H 2024 with Production Guidance of 60,000 - 70,000 AuEq Ounces for the Full Year
https://www.newswire.ca/news-releases/luca-sets-up-for-a-strong-2h-2024-with-production-guidance-of-60-000-70-000-aueq-ounces-for-the-full-year-807589817.html
Luca Mining Corp. Jun 13, 2024, 07:00 ET
VANCOUVER, BC, June 13, 2024 /CNW/ - Luca Mining Corp. ("Luca" or the "Company") (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) is pleased to announce its 2024 guidance and outlook for its 100% owned Campo Morado and Tahueheuto m
Asia Broadband Begins Phase II Drilling Program at the La Paz Gold Mine Project, As Gold Production Increases
https://ca.finance.yahoo.com/news/asia-broadband-begins-phase-ii-120000840.html
Asia Broadband Inc.
Wed, June 12, 2024 at 5:00 a.m. PDT·3 min read
AABB
-0.71%
OTCM
-1.00%
LAS VEGAS, June 12, 2024 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company has begun its Phase II Drilling Program at the La Paz Gold Mine Project located in Etzatlan, Jalisco, Mexico. The Phase I Program completed 1,088 meters of drilling on the concession property and the development team is in the process of mineralization analysis and mapping to direct the optimization of further drilling locations and depths. Further details of the La Paz Phase II drill program are expected to be released soon as they become available. The La Paz gold project is another prospective high yield asset addition in the Company’s strategic expansion initiative to acquire gold production and increase the AABB’s physical gold holdings.
AABB’s 2024 first quarter results recorded a doubling of gold production from the levels recorded in the last quarter of 2023. The resulting increase in gross profit in the first quarter was attributed to higher-grade recoveries, increased daily throughput levels and reduced production costs from economies of scale. Currently nearing the end of the second quarter of production the indications are trending to AABB achieving a further increase in revenues over the first quarter for the anticipated second quarter results.
“Our mining group is elated with the many signs revealed so far of high gold mineralization at the La Paz property, as we continue the drilling program into Phase II. The La Paz project is progressing to solidify its place as a key strategic asset in the Company’s mining property portfolio that will facilitate the growth of our operations and profitability going forward,” stated Chris Torres, AABB President and CEO.
AABB continues to implement its mining property expansion strategy to optimize development capital utilization by focusing operations in regions of Mexico where AABB has a comparative advantage of development resources and expertise readily available for rapid expansion and duplication of the Company’s previous gold production success.
About Asia Broadband
Asia Broadband Inc. (OTC: AABB) is a resource company focused on the production 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.
First Majestic Reports Positive Exploration Results at San Dimas
https://www.newsfilecorp.com/release/212797
June 13, 2024 7:00 AM EDT | Source: First Majestic Silver Corp.
Vancouver, British Columbia--(Newsfile Corp. - June 13, 2024) - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV)
Almadex Announces Plans to Drill at Paradise, Acquires Royalty at Willow, and Provides Corporate Update on Mexico
https://ca.finance.yahoo.com/news/almadex-announces-plans-drill-paradise-110000109.html
Almadex Minerals Ltd.
Tue, June 11, 2024 at 4:00 a.m. PDT·3 min read
AAMMF
0.00%
VANCOUVER, British Columbia, June 11, 2024 (GLOBE NEWSWIRE) -- Almadex Minerals Ltd. ("Almadex" or the "Company") (TSX-V: “DEX”) is pleased to announce its plan to commence a drill program of approximately 2,000 metres to test lithocap targets recently defined at the Paradise project in Nevada, USA.
As described in its news release of February 27th, 2024, Almadex defined a porphyry copper-gold target at Paradise through mapping and soil geochemistry. Further detailed mapping was recently completed on the porphyry target area at the project. This work defined two separate zones of porphyry lithocap alteration:
A diaspore-pyrophyllite-dickite-alunite alteration zone interpreted as a potential feeder to underlying porphyry mineralization at Arena Central backed up by elevated Na-content of alunite, Au, Ag, Cu and most coherently, a Mo in soil anomaly; and,
A separate lithocap to the SE containing a central zone of mineralization with a veinlet visually identified by the field crew as possibly enargite (a copper bearing sulphide mineral found in porphyry lithocaps).
Almadex intends to drill approximately 2,000 metres in these lithocaps in a program planned to start at the end of June, 2024.
Corporate Update
The Company has recently sold a 100% interest in its Willow copper porphyry project to Abacus Mining and Exploration Corp. (“Abacus”). Almadex’s predecessor had previously optioned Willow to Abacus in 2017, in an agreement under which Abacus could acquire a 75% interest in the project. With this recent sale, Almadex will transfer ownership of the Willow concessions to Abacus in exchange for 7,500,000 Abacus shares (the “Initial” shares) and a 2.0% NSR royalty on the Willow project. In addition, on July 31, 2025 Almadex may be issued a certain number of additional Abacus shares to account for any Abacus dilution between now and July 31, 2025.
Upon initial closing of this transaction, Almadex will hold 9,875,000 shares of Abacus as well as a 2% royalty on the Willow project, providing significant ongoing exposure to the discovery potential at Willow.
Finally, further to the Company’s press releases of December 14, 2023 and March 14, 2024, Almadex has taken the decision to submit its claims to arbitration against the United Mexican States (“Mexico”) under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (“CPTPP”). This decision comes after a consultation meeting held with Mexican officials on May 30, 2024 that did not result in an amicable resolution of the Company’s investment dispute with Mexico. The Company expects to initiate its claims following expiry of the six-month consultation period required under the CPTPP, which commenced on December 14, 2023.
The arbitration under the CPTPP will be adjudicated pursuant to the arbitration rules of the International Centre for Settlement of Investment Disputes (“ICSID”). As noted in the Company’s press release of March 14, 2024, Almadex is pursuing this arbitration together with Almaden Minerals Ltd., on behalf of themselves and their Mexican subsidiaries, and based on a preliminary estimate will be seeking damages of no less than US$200 million, in the aggregate. Almadex would be entitled to damages relating to its 2.0% NSR royalty on the Ixtaca project, if such damages were to be awarded.
On Behalf of the Board of Directors,
“J. Duane Poliquin”
J. Duane Poliquin, Chairman
Almadex Minerals Ltd.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements in it, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things, the timing, occurrence, and extent of any drilling program at Paradise, and the commencement, timing, result and damages associated with arbitration claims before an arbitral tribunal. These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant legal, regulatory, business, operational and economic uncertainties and contingencies, and such uncertainty generally increases with longer-term forecasts and outlook. These assumptions include: stability and predictability in Mexico’s consultation process under the CPTPP; stability and predictability in the application of the CPTPP and arbitral decisions thereon; continued respect for the rule of law in Mexico; market prices; exploitation and exploration successes; permitting; continued availability of capital and financing; equipment availability; and general economic, market or business conditions. The foregoing list of assumptions is not exhaustive.
The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release. Such risks and other factors include, among others, risks related to: regulatory requirements related to drilling at Paradise, technical considerations relating to drilling, Mexico’s consultation process under the CPTPP; the application of the CPTPP and arbitral decisions thereon; continued respect for the rule of law in Mexico; political risk in Mexico; crime and violence in Mexico; corruption in Mexico; environmental risks, including environmental matters under Mexican laws and regulations; impact of environmental impact assessment requirements on the Company’s planned exploration and development activities; certainty of mineral title and the outcome of consultation, litigation and arbitration; community relations; governmental regulations and the ability to obtain necessary licences and permits; risks related to mineral properties being subject to prior unregistered agreements, transfers or claims and other defects in title; changes in mining, environmental or agrarian laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may increase costs of doing business and restrict operations. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events or results to differ materially from those described in forward-looking statements or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that our forward-looking statements or information will prove to be accurate. Accordingly, readers should not place undue reliance on forward-looking statements or information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to on forward-looking statements or information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contact Information:
Almadex Minerals Ltd.
Tel. 604.689.7644
Email: info@almadexminerals.com
http://www.almadexminerals.com/
VIZSLA SILVER DRILLS MULTIPLE HIGH-GRADE INTERCEPTS, INCLUDING 1,017 G/T SILVER & 8.19 G/T GOLD OVER 13 METRES TRUE WIDTH AT COPALA
https://www.prnewswire.com/news-releases/vizsla-silver-drills-multiple-high-grade-intercepts-including-1-017-gt-silver--8-19-gt-gold-over-13-metres-true-width-at-copala-302170381.html
Vizsla Silver Corp. Jun 12, 2024, 07:00 ET
NYSE: VZLA TSX-V: VZLA
VANCOUVER, BC, June 12, 2024 /PRNewswire/ - Vizsla Silver Corp. (TSXV: VZLA) (NYSE: VZLA)
Torex Gold Outlines Multi-Year Exploration Strategy Pipeline of high-quality targets systematically prioritized to unlock the full potential of Morelos
https://www.newsfilecorp.com/release/212314
June 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. - June 10, 2024) - Torex Gold Resources Inc. (the "Company" or "Torex") (TSX: TXG)
Tocvan/Colibri Report 3rd Batch of Drill Results from Ongoing Drill Program at the Pilar Gold and Silver Project in Sonora
https://www.newsfilecorp.com/release/211913
June 06, 2024 9:19 AM EDT | Source: Colibri Resource Corporation
Dieppe, New Brunswick--(Newsfile Corp. - June 6, 2024) - Colibri Resource Corporation (TSXV: CBI)
ANGEL WING METALS COMPLETES GEOPHYSICS AT LA REYNA PROJECT - MEXICO
https://www.newswire.ca/news-releases/angel-wing-metals-completes-geophysics-at-la-reyna-project-mexico-829188362.html
Angel Wing Metals Inc. Jun 04, 2024, 07:00 ET
TSXV: AWM WWW.ANGELWINGMETALS.COM
PHASE 1 DRILL TARGETS SELECTED
TORONTO, June 4, 2024 /CNW/ - Angel Wing Metals Inc. (TSXV: AWM) ("Angel Wing Metals" or the "Company") is pleased to report the results for two recently completed geophysical surveys over a 1.5 by 3.0 kilometre (km) portion of the Polo-Dolorosa drill target area (see January 23, 2024 press release) at the Company's La Reyna Gold Project ("La Reyna" or the "Project") in Nayarit State, Mexico. Results from the initial Induced Polarization survey ("IP") and HSAMT survey have provided valuable information to improve the Company's understanding of this priority target area. Assay results of rock chip samples collected by the Company from the survey area returned from nil to best assays of 27.12 grams per tonne gold (g/t Au) with 90.0 grams per tonne silver (g/t Ag) over a 0.45 metre (m) channel chips sample, and a grab sample with 2.42 g/t Au and 399 g/t Ag, (see Figure 1). Historic trench results from this area include 5.03 g/t Au gold over 21.0 metres and 0.92 g/t Au over 15.52 metres.1
Figure 1: (a) Polo-Dolorosa Target Area. Plan view showing the location of the geophysical survey grid in blue. Overlaid with selected gold assay results over 0.1 g/t Au. Assay results vary from nil to a maximum of 27.12 g/t Au in this area. This also locates two of the historic trenches that will be drill tested to confirm historic grades, see T2 and T4; (b) IP Line 5, Section view looking westerly through the La Feña-Celeste prospects and showing some of the interpreted geology. See IP Line 5 location on (a) (CNW Group/Angel Wing Metals Inc.)
Figure 2: HSAMT Survey Results. Cross section looking west. A single line regional scale survey with stations reading every 100 metres, Line 1 is located in yellow on the inset map. (CNW Group/Angel Wing Metals Inc.)
_____________________________
1 Nevada Pacific Gold Ltd. Press Release dated April 20, 2006
Geophysical Surveys
Multiple anomalies were identified by the IP survey for follow up drilling, the strongest of which underlies outcrop exposures of mineralized and altered rocks that host anomalous disseminated gold. IP has also identified or confirmed several new prospects for drilling that correlate well with noted mineralization along structural trends at surface including La Feña. El Zorillo, San Ramon, Dolorosa, El Polo, Celeste, and La Reyna 2.
The HSAMT (Hybrid Controlled Source Audio Magneto-Telluric) survey has successfully refined the location and attitude of several important structural controls to mineralization that were observed at surface. In addition, it has identified several buried anomalies between a depth of 50 to 300 metres and has identified the location of a potential intrusion and feeder zone that may be of importance to the district scale mineralization (see Figure 2).
Drill Proposal
A two-phase diamond drill program is proposed for a total of approximately 5,000 metres to test the first five (5) widely spaced prospects that share mineralized geology, alteration and structures corroborated by coincident geophysical, soil and rock assay anomalies. The first drill phase of 2,500 metres will be to confirm continuity and orientation of observed surface mineralization at depths ranging from near surface to about 175 metres vertical depth. This first phase will also test beneath historical trenches to confirm their reported assay results that include the 5.03 g/t Au over 21.0 metres and 0.92 g/t Au over 15.52 metres. Positive results from the first phase of drilling will trigger moving to the second phase, currently anticipated to consist of a series of step out holes from positive phase 1 drill results and will add other prospects already advanced for drilling.
This program does mark the first ever drill program for the underexplored Distrito Minero Aguila de Oro (Gold Eagle Mining district.). All drill results will be used towards planning additional geophysics and drilling. The first phase drill program is expected to commence in Q3 2024 with the anticipated 2,500 meters in 12 to 14 drill holes focused on the first five (5) prospects. All necessary permits for drilling have been received from SEMARNAT, providing ample sites to complete all exploration plans for several years.
Mineralization and Alteration
The Polo-Dolorosa area is the first of three large high priority targets within the La Reyna Project to be tested by drilling. The nearby Aguila de Oro and Celeste targets continue to be advanced to the drill ready stage. Polo-Dolorosa was prioritized for the initial drilling because of the extensive mineralized structural controls observed across a 2.3-kilometre strike length (open) that displays extensive alteration and anomalous multistage gold mineralization and interpreted to be located within a dilational jog. Gold and visible gold is hosted in veins, hydrothermal breccia, and an altered quartz eye rhyolite crystal tuff with disseminated gold mineralization. Magnetic diorite is observed to intrude the host rocks. The surface geology displays extensive regional iron oxide, clay and silica alteration, along with local sericite, muscovite, siderite and chlorite alteration. A soil grid survey completed in 2023 in this area has further defined an extensive northwest trend of anomalous gold and copper.
STOCK OPTIONS
Angel Wing also announces that pursuant to Company's stock option plan, 1,055,000 stock options at an exercise price of $0.15, a premium to market price, were granted to employees and consultants of the Company. The stock options granted will vest in two equal instalments over one year and are exercisable for a period of five (5) years from date of grant.
The Company relied on sections 5.5 (a) and (b) and 5.7(a) and (b) of MI 61-101 as the exemption from the minority approval requirements of MI 61-101 in respect of the grant of options to the directors of the Company as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the grant of the options to the director of the Company exceeded 25% of the Company's market capitalization.
ESG
In consultation with the local communities, two drill permits and a permit for trenching were applied for and received from SEMARNAT, providing ample sites to complete all exploration plans for several years. Five-year renewable surface access agreements for exploration, drilling and water use have also been signed with the necessary local Ejidos. Additional surface access agreements will become necessary with individual parcel owners as exploration proceeds. However, the Company currently has permission to complete all holes in the proposed drill program. The Company has received all permits required to complete Phase 1 and 2 of the proposed drill program at the Polo-Dolorosa target.
QA/QC
All rock and soil samples were shipped to SGS Lab in Durango, Durango, México for sample preparation and analysis. SGS lab is ISO/IEC 17025 certified. Silver and 32 elements were analyzed using an exploration grade aqua regia digestion with an ICP finish for rock samples. Silver and base metals were analyzed using a four-acid digestion with an ICP finish for soil samples. Gold was assayed by 30-gram fire assay with an atomic absorption spectroscopy finish. Over limit analyses for gold and silver were re-assayed using an ore-grade 30-gram fire assay with gravimetric finish. Lead and zinc over limits were re-assayed using a sodium peroxide fusion. Control samples comprising certified reference samples, duplicates and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's quality assurance and quality control protocol. Geofísica TMC, based in Val D'Or Quebec with a branch office in Mazatlán, Sinaloa, was contracted for the geophysical survey.
QUALIFIED PERSON
Marc Prefontaine, M.Sc. P.Geo., President and CEO, is a qualified person for the purposes of National Instrument 43-101 and has reviewed and approved the technical content in this news release.
ABOUT ANGEL WING METALS
Angel Wing Metals (TSXV:AWM) is focused on the exploration and development of its portfolio of precious metals properties in Mexico and Canada. The Company's flagship La Reyna Project covers 106.89 km2 in the southern extension of the prolific Sierra Madre Occidental gold-silver belt in the state of Nayarit, Mexico. Angel Wing Metals is committed to sustainable and responsible exploration and business activities in line with industry best practices, supportive of all stakeholders, including the local communities in which the Company operates.
For more information, please visit the Company's website at www.angelwingmetals.com.
ON BEHALF OF THE BOARD OF ANGEL WING METALS INC.
Marc Prefontaine
President & CEO
Katherine Pryde
Investor Relations
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", " expects" or "does not expect", "proposed", "is expected", "budgets", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. In particular, this news release contains forward-looking information regarding: the outlook on the properties and projects of Angel Wing Metals including planned exploration. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects Angel Wing Metals' current beliefs and is based on information currently available to Angel Wing Metals and on assumptions Angel Wing Metals believes are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of Angel Wing Metals to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive board or regulatory approvals; the actual results of future operations; competition; changes in legislation, including environmental legislation, affecting Angel Wing Metals; the timing and availability of external financing on acceptable terms; and lack of qualified, skilled labor or loss of key individuals. A description of additional assumptions used to develop such forward-looking information and a description of additional risk factors that may cause actual results to differ materially from forward- looking information can be found in Angel Wing Metals' disclosure documents on the SEDAR+ website at www.sedarplus.ca. Although Angel Wing Metals has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Angel Wing Metals as of the date of this news release and, accordingly, is subject to change after such date. However, Angel Wing Metals expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
SOURCE Angel Wing Metals Inc.
For further information: Marc Prefontaine, President & CEO, Email: mprefontaine @Mr. Bill-9375, Email: katherine@angelwingmetals.com
Atacama Copper Intercepts 7.9 g/t AuEq over 1.3 m and 6.1 g/t AuEq over 2.6 m at its Cristina Project in Chihuahua Mexico
https://www.newsfilecorp.com/release/211636
June 04, 2024 8:45 AM EDT | Source: Atacama Copper Corporation
Vancouver, British Columbia--(Newsfile Corp. - June 4, 2024) - Atacama Copper Corporation (TSXV: ACOP)
Silver Storm Adds Second Drill Rig and Commences Phase 2 Drill Program at La Parrilla
https://ca.finance.yahoo.com/news/silver-storm-adds-second-drill-113000606.html
Business Wire
Mon, June 3, 2024 at 4:30 a.m. PDT·12 min read
SVRSF
-3.20%
Figure 1 - Cross Section of Rosarios Mine - Phase 1 and 2 Drill Plan (Graphic: Business Wire)
Figure 2 - Cross Section of Quebradillas Mine - Phase 1 and 2 Drill Plan (Graphic: Business Wire)
Figure 3 - Cross Section Rosarios View to N Key Results Holes RO-24-001 to 023A (Graphic: Business Wire)
Figure 4 - Cross Section of San Marcos Mine - Phase 1 Drill Plan (Graphic: Business Wire)
TORONTO, June 03, 2024--(BUSINESS WIRE)--Silver Storm Mining Ltd. ("Silver Storm" or the "Company") (TSX.V: SVRS | OTCQB: SVRSF | FSE: SVR), is pleased to announce that the company has added a second drill rig at the 100% owned La Parrilla Silver Mine Complex ("La Parrilla"), located in Durango, Mexico, and has commenced Phase 2 of the diamond drill program.
Highlights:
Two underground drill rigs now on-site and operational at La Parrilla
The Phase 2 diamond drill program will be completed over the next three months following up on the initial holes drilled with the aim of converting inferred mineralization to indicated
- 7,500 metres ("m") of drilling planned
Phase 1 of the drill program was completed with 69 drill holes (8,868 m) completed to date
- assays from 16 holes are pending from the San Marcos Mine
Quebradillas Mine drill results have achieved key successes in each of the zones explored, highlighted by holes Q-23-020 which returned 1,810 g/t Ag.Eq1 over 14.62 m and hole Q-23-022A which returned 911 g/t Ag.Eq over 13.05 m
Rosarios Mine drill results encountered several intersections of high-grade mineralization outside the current resource envelope including:
- Hole RO-24-15 returned 598 g/t Ag.Eq over 3.91 m including 1,170 g/t over 0.50 m and 1,071 g/t Ag.Eq over 1.87 m
- Hole RO-24-022A returned 900 g/t Ag.Eq over 0.97 m within a broader interval of 682 g/t Ag.Eq over 1.47 m (135 m below the last mined stope)
- Hole RO-24-012 returned 338 g/t Ag.Eq over 1.97 m (95 below last mined stope)
- A new mineralized zone identified in Eastern Rosarios with hole RO-24-007 returning 605 g/t Ag.Eq over 0.31 m and RO-24-009 returning 889 g/t Ag.Eq over 0.44 m and 468 g/t Ag.Eq over 0.44 m
Greg McKenzie, President and CEO, commented: "Our team is excited to be adding a second drill rig at La Parrilla. The Phase 1 results reported to date exceeded initial expectations and confirm our thesis that the mineralized zones at La Parrilla extend well beyond the previous mining areas. The second drill will accelerate following up on the key holes from the Phase 1 program. The work program also has a goal of converting resources from inferred to indicated. This announcement brings us another step closer to our objective of restarting production at La Parrilla."
Phase 2 Drill Program
A second diamond drill is now operational at La Parrilla supporting the Phase 2 drill program. Over the coming months, the Company plans to complete an additional 7,500 m of follow-up drilling at the Quebradillas, Rosarios, and San Marcos Mines.
The intent of the Phase 2 drill program is to follow-up on the initial holes from the Phase 1 drill program. The aim is to gain a greater understanding of the extensions drilled to date, with the goal of converting mineralization that would be classified as inferred into the indicated category, and in certain instances continue the expansion of the zones at depth.
Phase 1 Drill Program
The Phase 1 drill program at La Parrilla successfully completed 69 drillholes totaling 8,868 m, including 30 drill holes in the Quebradillas Mine, 23 holes in the Rosarios Mine as well as 16 holes in the San Marcos Mine (assays pending) see Figures 1 & 2. The Phase I drill program was designed to increase the inferred resource base at La Parrilla, primarily through testing the extensions of known structures. Drilling has been completed underground in proximity to existing infrastructure and development.
Highlights of Quebradillas Mine Drill Results
The drill results reported to date from the Quebradillas Mine has achieved success in each of the key zones explored (See Figure 2).
C460 Zone was the largest zone mined when Quebradillas was previously in production. The results from Hole Q-23-020 and Q-23-022A extend the high-grade mineralization to at least 74 m below the last mined stope, with higher grades and widths than previously mined in the area. Key results from this area include Hole Q-23-020 returning 1,810 g/t Ag.Eq over 14.62 m including 2,466 g/t Ag.Eq over 9.57 m and 682 g/t Ag.Eq over 4.00 m, as well as Hole Q-23-022A returning 911 g/t Ag.Eq over 13.05 m including 2,361 g/t Ag.Eq over 2.60 m and 1,266 g/t Ag.Eq over 2.15 m.
In the C460B Zone, mineralization was intersected 110 m below the last stope mined in this area and over a strike length of 100 m. Holes Q-23-001, Q-23-003 and Q-23-005 were drilled downdip below and along strike to the north of the C460B Zone, an area that was mined and channel sampled by First Majestic at a historical grade of approximately 260 g/t Ag.Eq. The drilling validated the FM historical grades and widths.
Results in the Norte Sur Zone, through Hole Q-23-007, showed that the high-grade mineralization extends down-dip 97 m below the last mined stope in the area. This hole returned 436 g/t Ag.Eq over 4.46 m and 330 g/t Ag.Eq over 2.26 m within a broader interval grading 324 g/t Ag.Eq over 8.72 m.
Within the C1524 Zone, mineralization appears to strengthen at depth, exceeding the previously mined grades at the nearest two mining levels. The Q-23-010 intercept is located 37 m below the last mine development in the area and returned 650 g/t Ag.Eq over 7.14 m and 607 g/t Ag.Eq over 4.36 m, including 1,251 g/t Ag.Eq over 1.51 m, all within a broader interval grading 500 g/t Ag.Eq over 14.8 m.
In the Quebradillas Zone, mineralization was extended 31 m below the last mined stope in the area at double the grade (Hole Q-23-019 returning 523 g/t Ag.Eq over 1.22 m). Hole Q-23-017 also intercepted mineralization approximately 16 m above the last mine development in this area, with similar high-grade mineralization.
At San Nicolas, because of the drilling and surface mapping conducted by the Company, high-grade silver mineralization can now be traced with continuity from surface down to approximately 370 m. This continuity is demonstrated by excellent drill intercepts above and below previously mined stopes. Hole Q-23-024 returned 689 g/t Ag.Eq over 9.39 m including 1,000 g/t Ag.Eq over 5.25 m and is located 18 m above the last mining development in the area.
The strong returns from the La Estrella, San Rafael and C1940 Zones show that mineralization extends beyond prior mining development in this area. Of particular note, Hole Q-23-030 returned 455 g/t Ag.Eq over 4.13 m including 1,617 g/t Ag.Eq over 0.6 m, which was intercepted 87 m above the closest developed stope in the area. These zones were not modelled in the August 10, 2023 Mineral Resource Estimate for La Parrilla, prepared by SRK Consulting.
Highlights of Rosarios Mine Drill Results
Drilling at the Rosarios Mine targeted the east, central, and west strike and down-dip extensions of known mineralization. The Rosarios zone has a known strike length of approximately 2,000 m with mineralization that extends vertically for 900 m with true width varies up to 14 m. Refer to news release dated May 27, 2024 for additional information, See Figure 3.
Central Rosarios had several drill holes intercept high-grade mineralization outside the resource envelope, and when combined with the historical drill holes, are expected to have a positive impact on Mineral Resources within this area:
RO-24-015 returned 598 g/t Ag.Eq over 3.91 m including 1,170 g/t Ag.Eq over 0.50 m and 1,071 g/t Ag.Eq over 1.35 m
RO-24-014 returned 431 g/t Ag.Eq over 0.69 m and 285 g/t Ag.Eq over 1.02 m
RO-24-020 returned 300 g/t Ag.Eq over 1.87 m including 588 g/t Ag.Eq over 0.46 m
RO-24-018 returned 928 g/t Ag.Eq over 0.50 m
Western Rosarios drillholes intersected high-grade mineralization 135 m downdip from the last mined stope in the area, demonstrating the potential of extending the zone further downdip and to the west:
RO-24-001 returned 283 g/t Ag.Eq over 3.84 m, including 542 g/t Ag.Eq over 1.19 m and 868 g/t Ag.Eq over 0.39 m
RO-24-022A returned 900 g/t Ag.Eq over 0.97 m within a broader interval of 682 g/t Ag.Eq over 1.47 m
Eastern Rosarios drilling had two key accomplishments:
RO-24-012 returned 338 g/t Ag.Eq over 1.97 m extending the zone approximately 95 m downdip from the last mined stope in this area
A new mineralized zone was identified with RO-24-007 returning 605 g/t Ag.Eq over 0.31 m and RO-24-009 returning several intercepts the most notable being 889 g/t Ag.Eq over 0.44 m and 468 g/t Ag.Eq over 0.44 m
San Marcos Drill Results
Drilling concluded at San Marcos with 16 holes drilled testing the extension of the San Marcos zone at depth, and along strike to the South. The San Marcos zone has a known strike length of 650 m with mineralization extending vertically for 350 m, and thickness varying from 0.5 to 17 m. Assays are pending until the completion of analyses, QAQC, and internal verifications.
All results in this release are rounded. Assays are uncut and undiluted. Widths are core-lengths, not true widths. Silver equivalent: Ag.Eq g/t was calculated using commodity prices of US$22.50 /oz Ag, US$1,800 /oz Au, US$0.94 /lb Pb, and US$1.35 /lb Zn applying metallurgical recoveries of 70.1% for silver and 82.8% for gold in oxides and 79.6% for silver, 80.1% for gold, 74.7% for lead and 58.8% for zinc in sulphides. Metal payable used was 99.6% for silver and 95% for gold in doré produced from oxides, and 95% for silver, gold, and lead and 85% for zinc in concentrates produced from sulphides. Cut-off grades considered for oxide and sulphide were, respectively 140 g/t Ag.Eq and 125 g/t Ag.Eq and are based on 2017 costs adjusted by the inflation rate and include sustaining costs.
Sample Analysis and QA/QC Program
Silver Storm uses a quality assurance/quality control (QA/QC) program that monitors the chain of custody of samples and includes the insertion of blanks, duplicates, and reference standards in each batch of samples sent for analysis. The drill core is photographed, logged, and cut in half, with one half retained in a secured location for verification purposes and one half shipped for analysis. Sample preparation (crushing and pulverizing) is performed at ALS Geochemistry, an independent ISO 9001:2001 certified laboratory, in Zacatecas, Mexico and pulps are sent to ALS Geochemistry in Vancouver, Canada for analysis. The entire sample is crushed to 70% passing -2 mm, and a riffle split of 250 grams is taken and pulverized to better than 85% passing 75 microns. Samples are analyzed for gold using a standard fire assay with Atomic Absorption Spectrometry (AAS) (Au-AA23) from a 30-gram pulp. Gold assays greater than 10 g/t are re-analyzed on a 30-gram pulp by fire assay with a gravimetric finish (Au-GRA21). Samples are also analyzed using a 34 element inductively coupled plasma (ICP) method with atomic emission spectroscopy (AES) on a pulp digested by four acids (ME-ICP61). Overlimit sample values for silver (>100 g/t), lead (>1%), zinc (>1%), and copper (>1%) are re-assayed using a four-acid digestion overlimit method with ICP-AES (ME-OG62). For silver values greater than 1,500 g/t, samples are re-assayed using a fire assay with gravimetric finish on a 30-gram pulp (Ag-GRA21). Samples with lead values over 20% are re-assayed using volumetric titration with EDTA on a 1-gram pulp (Pb-VOL70). No QA/QC issues were noted with the results reported herein.
Review by Qualified Person and QA/QC
The scientific and technical information in this document has been reviewed and approved by Bruce Robbins, P.Geo., a Qualified Person as defined by National Instrument 43-101.
About Silver Storm Mining Ltd.
Silver Storm Mining Ltd. holds advanced-stage silver projects located in Durango, Mexico. Silver Storm recently completed the acquisition of 100% of the La Parrilla Silver Mine Complex, a prolific operation which is comprised of a 2,000 tpd mill as well as five underground mines and an open pit that collectively produced 34.3 million silver-equivalent ounces between 2005 and 2019. The Company also holds a 100% interest in the San Diego Project, which is among the largest undeveloped silver assets in Mexico. For more information regarding the Company and its projects, please visit our website at www.silverstorm.ca.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward Looking Statements:
Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of the phrase ‘forward-looking information’ in the Canadian Securities Administrators’ National Instrument 51-102 – Continuous Disclosure Obligations. Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management and Qualified Persons (in the case of technical and scientific information) expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the future exploration performance at La Parrilla, the timing and extent of current and future drill programs, the ability to increase Mineral Resources therein, and the ability to eventually place the La Parrilla Complex back into production.
In making the forward-looking statements included in this news release, the Company and Qualified Persons (in the case of technical and scientific information) have applied several material assumptions, including that the Company´s financial condition and development plans do not change because of unforeseen events, that future metal prices and the demand and market outlook for metals will remain stable or improve, management’s ability to execute its business strategy and no unexpected or adverse regulatory changes with respect to La Parrilla. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, there being no assurance that the Company’s current and future exploration programs will grow the Mineral Resource base or upgrade Mineral Resource confidence, the risk that the assumptions referred to above prove not to be valid or reliable, the risk that the Company is unable to achieve its goal of placing La Parrilla back into production; market conditions and volatility and global economic conditions including increased volatility and potentially negative capital raising conditions resulting from the continued or escalation of the COVID-19 pandemic, risk of delay and/or cessation in planned work or changes in the Company’s financial condition and development plans; risks associated with the interpretation of data (including in respect of third party mineralized material) regarding the geology, grade and continuity of mineral deposits, the uncertainty of the geology, grade and continuity of mineral deposits and the risk of unexpected variations in Mineral Resources, grade and/or recovery rates; risks related to gold, silver and other commodity price fluctuations; employee relations; relationships with and claims by local communities and indigenous populations; availability and increasing costs associated with mining inputs and labour, the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits and the presence of laws and regulations that may impose restrictions on mining, including the Mexican mining reforms; risks relating to environmental regulation and liability; the possibility that results will not be consistent with the Company’s expectations.
Such forward-looking information represents managements and Qualified Persons (in the case of technical and scientific information) best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240603773474/en/
Contacts
For additional information:
Greg McKenzie, President & CEO
Ph: +1 (416) 504-2024
greg.mckenzie@silverstorm.ca
Tocvan Provides Update and Summary on Active Drill Program
https://www.accesswire.com/867992/tocvan-provides-update-and-summary-on-active-drill-program
Tuesday, 28 May 2024 08:30 AM
Company to Provide Detailed Update at RMEC June 4
Highlights:
Video Summary of Latest Drill Results: Drill Summary
Program Ongoing, 20 Drillholes complete, over 2,200 meters Drilled to Date
Results Pending
RMEC Presentation on June 4th, 1:00 p.m. ET, sign up here:
RMEC SIGN UP
CALGARY, AB / ACCESSWIRE / May 28, 2024 / Tocvan Ventures Corp. (the "Company") (CSE:TOC)(OTCQB:TCVNF)(FSE:TV3)
Minera Alamos 2024 Operations Update and Q1 Financials
https://www.newsfilecorp.com/release/211255
May 31, 2024 7:00 AM EDT | Source: Minera Alamos Inc.
Toronto, Ontario--(Newsfile Corp. - May 31, 2024) - Minera Alamos Inc. (TSXV: MAI) (the "Company" or "Minera Alamos") is pleased to provide selected financial highlights from its 2024 Q1 Financial Statements and MD&A filed on SEDAR+ on May 30th, 2024 as well as an operations update for the first five months of the year.
Operational update - January - May 2024
In December 2023, planning commenced to reconfigure the existing pad capacity at the Santana mine to allow for an improvement in operational performance in 2024/2025.
The Company has started to ramp up mining activities at Santana in the second quarter of 2024 after a revision to the development plans utilizing the existing leach pad capacity while waiting on the expansion permits. The updated plans will allow mining and stacking operations to increase significantly from the 2023 levels. Approximately 20,000 ounces of gold at an average grade of 0.63 g/t and an approximate strip ratio of 1.6:1 has been defined in the updated plan and will be mined over a 12-month period (see news release dated February 22nd, 2024). In addition, a further 4,500 ounces of gold at a higher grade of approximately 1 g/t will be mined and initially stockpiled for future processing pending additional studies to determine an optimal approach for crushing and processing to maximize recoveries. These ounces are expected to be processed within the 12-month schedule noted above.
In April 2024, the Company finalized internal operating plans with its mining contractor who subsequently mobilized at site the additional personnel and equipment required to support the increased mining operations with initial blasting in May in parallel with some site upgrades including new haulage roads. Mining and stacking operations are expected to commence in June following the completion of this work and continue under the current operating plans through H2 2024 and H1 2025. Thereafter, it is anticipated these mining levels should be able to be maintained or further increased with additional pad capacity.
In late April, the Company's wholly owned subsidiary Cobre 4H announced it had come to an agreement on merger terms with Minera Gold Copper ("MGC") that are subject to final paperwork required for closing in Mexico. MGC maintains certain rights including rights to the Suaqui Verde project concessions. The Company is aware that these rights have been the subject of various legal proceedings in the past and that other parties have contested ownership of the project. The Company has reviewed the information provided by MGC as it relates to the history and status of recent court judgements regarding MGC's rights to ownership of the Suaqui Verde concessions and believes those judgements and MGC's rights to be valid and enforceable.
The Company plans to advance the creation of a separate copper developer/producer focused on low capital intensity copper development projects. The combination of Los Verdes and Suaqui Verde allows for further consolidation of similar types of assets that could form a regional copper production "hub". The copper business will be incubated at the Company's copper subsidiary level with external funding expected to be directly into the subsidiary. In May 2024 the Company provided an update on its Cobre 4H Mexican subsidiary which holds its existing copper assets, the Los Verdes and Potreritos projects (see news release dated May 3, 2024).
Total gold recovered and sold in the first quarter of 2024 was 907 ounces from the Santana Project with inventory on the heap leach pad of 5,383 ounces as at March 31st, 2024. Sales revenues from 907 ounces of gold sold in the first quarter of 2024 totalled $2,460,378.
Cash and cash equivalents at March 31, 2024 totalled $11,844,502 and the Company had a positive working capital position of $18,248,667. Cash and cash equivalents includes cash received from sales completed from the Q1 production where the related revenues have been treated as deferred in the condensed interim consolidated financial statements and will be recognized as revenue in the Q2 2024 condensed interim consolidated financial statements.
Selected Financial Data:
The following selected financial data is summarized from the Company's Interim Unaudited Financial Statements and related notes thereto (the "Financial Statements') for the quarter ended March 31st, 2024, and the Management's Discussion and Analysis ("MD&A") for the quarter ended March 31st, 2024 (all numbers in Canadian dollars unless otherwise stated). A copy of the Financial Statements and MD&A is available on SEDAR+ at www.sedarplus.ca.
Operationally, revenues (not factoring deferred revenue) totalled $2,460,378 with cost of goods sold and depletion amounting to $2,556,892 for a small mine operations loss of $96,514. Unit costs for the quarter continued to be higher due to the fixed costs of operations being spread over fewer ounces which is expected to change as operations are expanded over the coming quarters as outlined in February and April (2024) news releases.
Net income of $528,360 for the quarter of $0.001/share compared to net income of $1,485,884 in the corresponding quarter of 2023.
Cash and Cash Equivalents of $11,844,502 compared to $13,754,272 as at December 31st, 2023. The drop in cash balance reflects a designed reduction of normal operating payables during the period ahead of the anticipated increase in operational activity in Q2 and the rest of the year.
Working capital as of March 31st, 2024 stood at $18,248,668 compared to $19,968,100 as at December 31st, 2023.
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. 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.
LUCA REPORTS STRONG Q1 2024 WITH C$7.3M OF NET INCOME
https://www.newswire.ca/news-releases/luca-reports-strong-q1-2024-with-c-7-3m-of-net-income-817335318.html
Luca Mining Corp. May 30, 2024, 07:00 ET
VANCOUVER, BC, May 30, 2024 /CNW/ - Luca Mining Corp. ("Luca" or the "Company") (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68)
Sierra Madre Receives Regulatory Approval for Dry Stack Tailings Deposition on Existing Tailings Impoundment, Paste Backfill of Tailings in Underground Workings and Surface Drilling Pad Sites
https://www.newsfilecorp.com/release/210695
May 28, 2024 7:00 AM EDT | Source: Sierra Madre Gold & Silver
Vancouver, British Columbia--(Newsfile Corp. - May 28, 2024) - Sierra Madre Gold and Silver Ltd. (TSXV: SM) (OTCQX: SMDRF) ("Sierra Madre" or the "Company") is pleased to announce that SEMARNAT, the federal Mexican regulatory agency in charge of environmental permitting, has approved modifications to the existing operating permit for the Guitarra Mine and Mill complex, located in the State of Mexico, Mexico. These modifications will allow for:
Dry Stack Tailings Deposition at the Active Tailings Facility Site, TSF 1-3
Construction of a Tailings Filter Plant Adjacent to the Existing Mill
Paste Backfill Using Tailings in the Guitarra Underground Mine
58 surface drilling pad locations
Dry Stack Tailings Approval and Next Steps
Regulatory approval for dry stack tailings deposition is a significant milestone for Sierra Madre as it moves forward with the possible mine restart at Guitarra. This approval allows the Company to transition from conventional tailings deposition to a more modern system and delays the near-term capital expense of building the fully permitted 5.8 million tonne TSF 4. The use of dry stack deposition will result in more process water being recycled and will allow more tonnes of tailings to be deposited within the existing footprint of TSF 1-3. Dry stacked tailings are the more environmentally responsible alternative and provide a higher level of safety and security long term.
TSF 1-3 has two conventional tailings deposition sites with a remaining capacity of 230,000 tonnes which the company plans to use in initial startup operations. Construction on one site began in April and is scheduled for completion before the onset of the rainy season in June. The dam, or bordo, is being built in 30 cm compacted lifts. The inner bordo face and bottom will be covered with a high-strength HDPE liner, as per accepted industry practices. At the processing plant's operating capacity of 500 tonnes per day, the two expansions will be sufficient for a minimum 15 months of operations, providing the Company with time to complete the design and construction of a combined dry stack and paste backfill tailings disposal system.
High-level studies conducted by Stantec Consulting International LLC and Ingenieria y Construcción de Presas S.A. de C.V. suggest that TSF 1-3 may potentially have a dry stack tailings capacity of at least 500,000 tonnes. The Company has decided to conduct additional geotechnical drilling and studies during the upcoming rainy season to obtain additional high-water saturation data before proceeding with the final layout and design work. This will enable the Company to make better-informed operational decisions.
Figure 1 below shows the locations of the Active Tailings Facility Site (TSF 1-3) and the permitted 5.8MT TSF4.
Figure 1: Locations of the active and permitted tailings facilities
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10436/210695_044f49cd442da865_002full.jpg
Tailings Paste Backfill at Guitarra
The approval for the use of tailings for paste backfill is another significant development both operationally and from an environmental perspective. Instead of depositing tailings in TSF 1-3, a portion of the process water is removed from the tail product of the plant, then pumped as a slurry to mined-out areas, mixed with cement, and used to fill open voids. This enhances overall mine stability, increases process water recycling, reduces the potential of acid generation in the surface environment and saves space in TSF 1-3. The Company initially plans to utilize paste fill in stopes below the main San Rafael haulage level, 10 meters above the processing plant. This relatively small elevational difference minimizes initial pumping requirements, potentially reducing initial capital and operating costs.
Surface Drill Pad Approval
58 surface drill pad sites were approved for testing the Progresso, Perdida Guitarra, and 350 veins near existing Guitarra mine workings and the Las Palms/Inca and Santa Teresa vein systems north of the existing underground workings. The Las Palms/Inca and Santa Teresa vein systems have never been drill-tested and have a combined strike length at surface in excess of 9 km. All vein systems contain historic mine workings, and multiple surface samples have returned economically interesting silver and gold values.
Figure 2 below shows the locations of the permitted drill pads.
Figure 2: Locations of the permitted drill pads
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10436/210695_044f49cd442da865_003full.jpg
Qualified Person
Mr. Gregory Smith, P. Geo, Director of Sierra Madre, is a Qualified Person as defined by NI 43-101, and has reviewed and approved the technical data and information contained in this news release. Mr. Smith has verified the technical and scientific data disclosed herein.
About Sierra Madre
Sierra Madre Gold and Silver Ltd. (TSXV: SM), (OTCQX: SMDRF) is a precious metals development and exploration company focused on evaluating the potential of restarting the La Guitarra Mine in the Temascaltepec mining district, Mexico, and the exploration and development of its Tepic property in Nayarit, Mexico. The La Guitarra Mine is a permitted, past-producing underground mine, which includes a 500 t/d processing facility that operated until mid-2018.
The +2,600 ha Tepic Project hosts low-sulphidation epithermal gold and silver mineralization with an existing historic resource.
Sierra Madre's management team has played key roles in managing the exploration and development of more than 22Moz gold and 600Moz silver in combined mineral reserves and mineral resources. Sierra Madre's team of professionals has collectively raised over $1 billion for mining companies.
On behalf of the board of directors of Sierra Madre Gold and Silver Ltd.,
"Alexander Langer"
Alexander Langer
President, Chief Executive Officer and Director
1-604-765-1604
Contact:
investor@sierramadregoldandsilver.com
Cautionary Note
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved.
Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
SOURCE: Sierra Madre Gold and Silver
SOURCE: Sierra Madre Gold & Silver
IMPACT Silver Announces Q1 2024 Financial Results with Improved Revenue and Investment
https://www.newsfilecorp.com/release/210848
May 28, 2024 4:12 PM EDT | Source: IMPACT Silver Corp.
Vancouver, British Columbia--(Newsfile Corp. - May 28, 2024) - IMPACT Silver Corp. (TSXV: IPT) (OTCQB: ISVLF) (FSE: IKL) ("IMPACT" or the "Company") announces its financial and operating results for the first quarter ended March 31, 2024. The Company reports revenue of $5.3 million in Q1 2024, of which $4.3 million was from Guadalupe Mining Centre with $1.0 million from the start-up operations at the Plomosas mine which was acquired in April 2023 . There was a net loss during the period of $3.1 million, primarily from MLAZ (Plomosas zinc mine) as that company incurred $2.8 million in operating costs expensed during the quarter to upgrade the facilities.
Subsequent to quarter-end, the Company announced a non-brokered private placement financing of up to $10.2 million, and closed the first tranche for aggregate gross proceeds of $7.1 million. The second tranche is anticipated to close on or before the week of June 3, 2024. During the quarter, the Company continued to focus on exploration and development of its mining districts and spent $1.9 million on these programs.
The price of silver and zinc started to improve towards the end of the quarter as a more dovish policy from the U.S. Federal Reserve led to speculation of interest rate cuts in 2024. These gains were reinforced as it became clearer that inflation was trending towards the central bank's target of 2%.
Major Investment in Rehabilitation Setting Stage for Growing 2024 Production
Throughout the first quarter, management sought to accelerate maintenance, rehabilitation and underground development efforts at both mines including upgrading the underground railway track system and shaft at Zacualpan while redesigning the Plomosas mine plan and planning a low-cost solar and battery power solution at Plomosas. The second quarter has already seen significant upward price movement in commodity prices, namely for silver and zinc which are the Company's two main revenue sources. Additionally, the Company successfully negotiated a new labour agreement with the primary union at the Zacualpan silver operation, allowing for added cost certainty and more efficient production going forward.
Fred Davidson, President & CEO of IMPACT, stated, "We spent the first quarter positioning the Company for the future. Major rehabilitation efforts at the Zacualpan operation and the development at Plomosas mine, coupled with added visibility for a significant portion of our cost structure such as labour at Zacualpan and the potential low cost sustainable power at Plomosas, have positioned the Company to benefit from the current increase in commodity prices. Management expects operating profit to improve throughout the year as both operations ramp up to full design capacity and investments made over the last 12 months begin to bear fruit for investors."
Q1 2024 Review
Zacualpan Silver Operation
During the quarter, the Company milled a total of 31,735 tonnes of mill feed at the Zacualpan/Guadalupe complex, down from 35,825 tonnes in Q4 2023. The decline was due to maintenance at the mine including rebuilding the underground railway track system and shaft which resulted in production stops during the quarter. The Company returned to normal capacity levels by the end of the period.
As a result, silver production from the Guadalupe complex during the period was 137,291 oz compared to 156,430 oz in Q4 2023. The average mill head grade on a silver-equivalent basis in Q1 2024 was 161 g/t compared to 160 g/t in Q4 2023. Lower gold production was due to reduced recoveries as well a temporary stop in production at the gold-rich Alacran mine while conducting metallurgical studies. Alacran is the principal source of gold production and with improved recoveries is expected to return to production in the second half of 2024. Notwithstanding, revenue per tonne sold in the period was comparable at $134.59 to $135.80 in Q4 2023, while direct costs per tonne decreased to $128.12 from $152.38.
Plomosas Zinc Operation
At the Plomosas mine, the Company recommenced limited test production in October 2023, after a substantial stage one rehabilitation program following the acquisition of the mine in April 2023. In Q1 2024, the Plomosas mine continued the gradual start-up of operations processing 3,594 tonnes with a grade of 15.3% zinc. Typical start-up pauses are ongoing to review and optimize processes. Continued improvements are taking place, and the mine is expected to reach design capacity of 200 tpd later in 2024.
Outlook
Management believes the Company is well-positioned as an intermediate miner offering investors exposure to three distinct verticals across the mining sector, including exploration, production, and growth.
IMPACT continues to be one of the purest intermediate silver miners with nearly all the Company's revenue coming from silver-focused operations during the quarter. Later in 2024, the Company's high-grade Plomosas zinc mine is anticipated to meaningfully contribute to the overall revenue mix, especially as zinc has been one of the top base metal performers this year, with pricing up nearly 30% from 2024 lows in Q1. Meanwhile, the Company continues to seek increased gold production and aims to aggressively expand exploration activity at both mines to drive higher grade and profitability.
A recorded conference call reviewing the financial and production results of the quarter ended March 31, 2024 will be available on the Company website on May 30, 2024 at http://www.impactsilver.com/s/ConferenceCalls.asp.
The information in this news release should be read in conjunction with the Company's unaudited Q1-24 condensed consolidated interim financial statements and Management's Discussion and Analysis, available on the Company website at www.impactsilver.com and on SEDAR at www.sedarplus.ca. All amounts are stated in Canadian dollars unless otherwise specified.
ABOUT IMPACT SILVER
IMPACT Silver Corp. (TSXV: IPT) is a successful 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 four underground silver mines and one open pit mine feed the central 500 tpd Guadalupe processing plant. To the south, the Capire Project includes a 200 tpd processing pilot plant adjacent to an open pit silver mine with an NI?43-101 inferred mineral resource of over 4.5?million oz silver, 48 million lbs zinc and 21 million lbs lead (see IMPACT news release dated January 18, 2016, for details and QP statement). Company engineers are reviewing Capire for a potential restart of operations to leverage improving commodity prices. Over the past 18 years, IMPACT has developed multiple exploration zones into commercial production and has produced over 12 million ounces of silver, generating revenue more than $265 million, with no long-term debt.
Plomosas Zinc-Lead-Silver District: Plomosas is a high-grade zinc producer in northern Mexico with exceptional exploration upside potential. The Company recently began preliminary mining and processing operations where upgrades to facilities and equipment continue. Exploration potential at Plomosas is exceptional with only 600m of the 6 km-long structure have seen modern exploration. This is in addition to other exploration targets on the 3,019-hectare property including untested copper-gold targets with indications of high-grade material from surface. Regionally, Plomosas lies in the same mineral belt as some of the largest carbonate replacement deposits in the world.
Additional information about IMPACT and its operations can be found on the Company website at www.impactsilver.com. Follow us on X (Twitter) http://www.twitter.com/IMPACT_silver and LinkedIn at https://www.linkedin.com/company/impactsilver.
Qualified Person and NI 43-101 Disclosure
George Gorzynski, P.Eng., is a "Qualified Person" within the meaning of NI 43-101 and has approved the technical information contained in this news release.
On behalf of IMPACT Silver Corp.
"Frederick W. Davidson"
President & CEO
For more information, please contact:
Jerry Huang
CFO | Investor Relations
(604) 664-7707 or inquiries@impactsilver.com
(778) 887 6489 Direct
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking and Cautionary Statements
This IMPACT News Release may contain certain "forward-looking" statements and information relating to IMPACT that is based on the beliefs of IMPACT management, as well as assumptions made by and information currently available to IMPACT management. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements include, but are not limited to, statements with respect to continued start-up and ramp-up of operations, and improved operating profits.
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, community relations, criminal activity, operating hazards, 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.
SOURCE: IMPACT Silver Corp.
Prime Extends High-Grade Silver and Gold Mineralization at Guadalupe East
https://ca.finance.yahoo.com/news/prime-extends-high-grade-silver-100000335.html
Prime Mining Corp.
Tue, May 28, 2024 at 3:00 a.m. PDT·14 min read
PRMNF
+4.58%
Drilling discovers 6.9 gpt gold-equivalent over 3.5 metres located 350m along strike from 2023 Resource pit bottom
VANCOUVER, British Columbia, May 28, 2024 (GLOBE NEWSWIRE) -- Prime Mining Corp. (“Prime” or the “Company”) (TSX: PRYM) (OTCQX: PRMNF) (Frankfurt: 04V3)
Kingsmen Resources Identifies New High Potential Targets
https://www.newsfilecorp.com/release/210729
May 28, 2024 8:30 AM EDT | Source: Kingsmen Resources Ltd
Vancouver, British Columbia--(Newsfile Corp. - May 28, 2024) - Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF) ("Kingsmen" or the "Company") announces the discovery of two new zones of mineralization not previously recognized, the Silvia and La Plata zones (SLP) (Figure 1) on its 100% owned Las Coloradas project, located in the Central Mexican silver belt, Chihuahua Mexico.
The Silvia and La Plata (SLP) zones are located on the 2,500 meter-long, NE-trending zone of structures. This trend lies to the north of the old Soledad mine and cross cuts the NW-trending Soledad and Soledad II structures/vein systems.
Follow-up exploration has shown that the Silvia zone is located at the intersection of the SLP and Soledad structures/vein systems. This structurally complex area is highly prospective for mineralization. The La Plata zone contains NE, NW and N-trending structures/veins. N-trending structures/vein systems are unusual and may, in part, be reflecting buried quartz porphyry (QP) intrusives.
The Las Coloradas project area of mineralization is on the southeast flank of a prominent aeromagnetic high interpreted to be a buried felsic intrusive body. The felsic intrusives associated with the La Plata and Silvia zones, the Soledad and Soledad II structures and other structures are likely linked to this body.
Scott Emerson, President commented: "As we continue our exploration, it is apparent that the project is increasing in size and scope. These two new areas are highly prospective for silver, gold, and copper and successful work programs will add substantially to the potential of the project."
Figure 1
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9640/210729_5ed5d3e6a41dbbdd_003full.jpg
About Las Coloradas
The 100% owned Las Coloradas Project (8.5 km2 -3.3 sq miles) represents a consolidation of a historic mining district which covers numerous silver-gold-lead-zinc-copper mines previously exploited by ASARCO (American Smelting and Refining Company), the U.S. based subsidiary of Grupo Mexico.
Las Coloradas is in the Parral mining district of the Central Mexican Silver Belt, and is located approximately 30 kilometers southeast of the city of Hidalgo de Parral and 40 kilometers east of the San Francisco de Oro and Santa Barbara mining districts where several operating mines are located, such as La Prieta, Veta Colorada, Palmilla, Esmeralda, San Francisco del Oro and Santa Barbara. As well, new major mining projects are currently being explored in the district; Cordero (Discovery Silver Corp.), 35 kms north of Parral, and La Cigarra (Kootenay Silver Inc.), 35 kms northwest of Parral. Click here to see locator map, https://www.kingsmenresources.com/area-history
Qualified Person
Kieran Downes, Ph.D., P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure set out in this news release.
About Kingsmen Resources
In line with Kingsmen's organic-growth strategy, the Company's focus is on exploration and development, and is currently focused on district-scale exploration for high -margin metallic mineral deposits in the prolific mining districts of Parral Mexico. In addition, the company has a 1% NSR on the Los Ricos North project in Mexico operated by GoGold Resources Inc. The Company's leaders have extensive experience in the mining and financial sectors. Kingsmen is a publicly-traded company (TSXV: KNG) (OTCQB: KNGRF) and is headquartered in Vancouver, British Columbia.
On behalf of the Board,
"Scott Emerson"
Scott Emerson,
President & CEO
Phone: 6046859316
Email: se@kingsmenresources.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement:
All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding the completion of the acquisition of the Las Coloradas Project and receipt of regulatory approval, are forward-looking statements. Although Kingsmen believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Kingsmen can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in Kingsmen's periodic filings with Canadian securities regulators, and assumptions made with regard to: Kingsmen's ability to make the required payments under the definitive agreements; and Kingsmen's ability to secure the necessary regulatory approvals. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Kingsmen's expectations include risks associated with the business of Kingsmen; risks related to the satisfaction or waiver of certain conditions to the closing of the acquisition of the Las Coloradas Project; non-completion of the acquisition of the Las Coloradas Project; risks related to exploration and potential development of the Las Coloradas Project; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in Kingsmen's filings with Canadian securities regulators on SEDAR in Canada (available at www.sedarplus.ca). Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Kingsmen does not undertake any obligation to update forward looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
SOURCE: Kingsmen Resources Ltd
$CATV - #DDAmanda Video Analysis
Luca Mining Confirms New High-Grade Gold Zones with Significant Mining widths at the Tahuehueto Gold Mine
https://www.prnewswire.com/news-releases/luca-mining-confirms-new-high-grade-gold-zones-with-significant-mining-widths-at-the-tahuehueto-gold-mine-302151503.html
Luca Mining Corp. May 21, 2024, 09:29 ET
VANCOUVER, BC, May 21, 2024 /PRNewswire/ - Luca Mining Corp. ("Luca" or the "Company" (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) is pleased to announce that a new high grade gold mineralization over significant widths has been confirmed at the Tahuehueto Gold Mine in Durango, Mexico. The mineralization occurs in shoots branching off the main Creston vein at Underground Level 23. Creston is one is one of two main structures currently being mined. New geological mapping and channel sampling at this level confirmed the presence of breccia ore shoots up to 20m wide with some internally assayed channel samples returning greater than 20 g/t Au.
Figure 1: General Plan View – North Mine Area (CNW Group/Luca Mining Corp.)
Figure 2 – Partial Level 23 map of channel samples showing SW extents of vein-breccia zone (CNW Group/Luca Mining Corp.)
Figure 3: Long-Section – Lower Mine (Looking West) (CNW Group/Luca Mining Corp.)
Figure 4: Zoomed-In Long-Section – Level 23 (Looking West) (CNW Group/Luca Mining Corp.)
Ramon Perez, Interim CEO, commented: "Our geology team at Tahuehueto are doing excellent work. They are progressively adding to our understanding of the mineralisation and confirming the enormous upside potential of the mine. These wide and higher-grade mineralised zones at depth, where two vein splays intersect, were identified in earlier drilling. With the added detail from mapping and channel sampling we see the excellent potential in multiple areas. These wider, high-grade zones will be part of our plan to ramp-up to 1,000 tpd, a milestone we expect to achieve in the next few months. I look forward to providing more updates as our work here unfolds."
Level 23 Geology
The underground mine development at Tahuehueto has been advancing since early 2022 and most recently has included developing access, dewatering and mining the first stopes of Level 23, currently the lowest level in the mine. Two mineralized splays have been exposed on the hangingwall and footwall sides of the Creston fault, and mineralized breccia in between with economic widths up to 20m. In this zone there are two types of mineralization; the first is represented by northeast-trending veins of structurally controlled hydrothermal breccias carrying zinc and lead sulphides, hosted in highly altered andesitic rocks with greater contents of gold and copper as a result of higher temperature and deep-seated mineralization. The second type consists of high-grade gold and silver mineralization, superimposed over the lodes and breccias of base metals sulphides formed in previous stages of mineralization.
The block model developed for the pre-feasibility study (refer to Technical Report Preliminary Feasibility Study, 2022) identified maximum vein widths in this area of 8.4m in the hangingwall and 6.5m in the footwall vein splays on Level 23 respectively. Actual vein widths are very comparable, with up to 4.9m in the footwall and 9.5m in the hangingwall, though detailed vein geometries vary. The footwall splay has been exposed 160 meters along strike and shows excellent continuity. Figure 2 shows channel sampling of the southwestern extent vein-breccia zone, about half of the fully exposed footwall splay.This area extends laterally 200 meters by 230 vertical meters based on diamond drilling, and the area remains open at depth and to the NE and SW. These targets are already included within the exploration program.
Figures 3 and 4 show long-sections of the Lever 23 area and illustrate the block model interpretations of mineralisation on these structures, together with limits to the existing drilling.
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 under development in Durango State, Mexico, within the Sierra Madre Mineral Belt which hosts numerous producing and historic mines along its trend.
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.
Guanajuato Silver Reports Q1 2024 Financial and Operating Results
https://www.accesswire.com/866661/guanajuato-silver-reports-q1-2024-financial-and-operating-results
Thursday, 23 May 2024 06:30 AM
VANCOUVER, BC / ACCESSWIRE / May 23, 2023 / Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR)(OTCQX:GSVRF)
Silver Tiger Intersects 1.0 Metre of 12,851.5 G/T Silver Equivalent Within 16.0 Metres of 875.6 G/T Silver Equivalent in the Tigre Vein and Keel Zone
https://www.accesswire.com/866209/silver-tiger-intersects-10-metre-of-128515-gt-silver-equivalent-within-160-metres-of-8756-gt-silver-equivalent-in-the-tigre-vein-and-keel-zone
Wednesday, 22 May 2024 07:00 AM
HALIFAX, NS / ACCESSWIRE / May 22, 2024 / Silver Tiger Metals Inc. (TSXV:SLVR)(OTCQX:SLVTF)
Tocvan Drills Another Successful Hole Outside of Main Zone Returns High-Grade 10.9 g/t Gold over 3.1 meters, within 42.7 meters of 1.0 g/t Gold Near Surface
https://www.accesswire.com/866647/tocvan-drills-another-successful-hole-outside-of-main-zone-returns-high-grade-109-gt-gold-over-31-meters-within-427-meters-of-10-gt-gold-near-surface
Thursday, 23 May 2024 08:30 AM
Highlights:
Second Best Intersect Outside of Main Zone to Date, 300 meters Northeast of Main Zone
300 meters west-northwest of Previously Released JES-24-77, 56.4m of 1.0 g/t Au and 1 g/t Ag
Drilling Intersects 42.7 meters of 1.0 g/t Au, 22.9 meters from Surface in Drillhole JES-24-79
Including 3.1 meters of 10.9 g/t Au, 38.1 meters from surface
Continues to Build Resource Potential Along North Hill Corridor
Anomalous Exploration Results Provide Key Indications to Trend Extensions
Additional Results Pending
CALGARY, AB / ACCESSWIRE / May 23, 2024 / Tocvan Ventures Corp. (the "Company") (CSE:TOC)(OTCQB:TCVNF)(FSE:TV3)
VIZSLA SILVER REPORTS SEVERAL MULTI-KILO SILVER AND GOLD INTERCEPTS ALONG NAPOLEON VEIN SYSTEM
https://www.prnewswire.com/news-releases/vizsla-silver-reports-several-multi-kilo-silver-and-gold-intercepts-along-napoleon-vein-system-302152290.html
Vizsla Silver Corp. May 22, 2024, 07:00 ET
NYSE: VZLA TSX-V: VZLA
VANCOUVER, BC, May 22, 2024 /PRNewswire/ - Vizsla Silver Corp. (TSXV: VZLA) (NYSE: VZLA) (Frankfurt: 0G3)
Sierra Metals Enters Into a Binding Agreement With Silverco Mining to Sell Its Cusi Project in Mexico
https://ca.finance.yahoo.com/news/sierra-metals-inc-enters-binding-110000737.html
Business Wire
Wed, May 22, 2024 at 4:00 a.m. PDT·4 min read
SMTSF
+5.07%
TORONTO, May 22, 2024--(BUSINESS WIRE)--Sierra Metals Inc. (TSX:SMT | OTCQX: SMTSF) ("Sierra Metals" or the "Company") is pleased to announce that the Company has entered into a binding agreement (the "Agreement") with Silverco Mining Corp. ("SMC") in respect of the proposed purchase (the "Transaction") by SMC of the mining concessions comprising the Cusi Mine located in Chihuahua State, Mexico (the "Cusi Mine"), and related assets including, among other things, land and land agreements, equipment and environmental permits (collectively with the Cusi Mine, the "Property").
In accordance with the terms of the Agreement, the Company will sell the Property to SMC in exchange for:
US$2,500,000 in cash consideration at closing; and
A 2.0% net smelter royalty in respect of the Cusi Mine granted in favour of Sierra Metals (the "Royalty"). SMC will have the right to purchase half of the Royalty (being 1.0%) at any time in exchange for a cash payment to Sierra Metals of US$5,000,000.
As previously announced, the non-core Cusi Mine was placed on care and maintenance and the Company initiated a sales process on September 20, 2023. Placing the Cusi Mine on care and maintenance and the completion of the Transaction allows Sierra Metals to direct its full effort and resources to optimize the Company’s two core assets at Yauricocha and Bolivar.
Completion of the Transaction is currently expected in the second quarter of 2024. The completion of the Transaction is subject to the Company and SMC entering into a definitive agreement in respect of the Transaction and the satisfaction or waiver of all conditions thereunder and the receipt of any applicable regulatory approvals. There is no certainty that the Transaction will be completed on the terms set out in this press release or at all.
Advisors
Sierra Metals has engaged SCP Resource Finance as its financial advisor, Mintz LLP as its Canadian legal advisors and RB Abogados as its Mexican legal advisors.
About Sierra Metals
Sierra Metals is a Canadian mining company focused on copper production with additional base and precious metals by-product credits at its Yauricocha Mine in Peru and Bolivar Mine in Mexico. The Company is intent on safely increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company has large land packages at each of its mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.
Forward-Looking Statements
This press release contains forward-looking information within the meaning of Canadian securities legislation. Forward-looking information relates to future events or the anticipated performance of Sierra and reflect management's expectations or beliefs regarding such future events and anticipated performance based on an assumed set of economic conditions and courses of action. In certain cases, statements that contain forward looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will allow", "occur" or "be achieved" or the negative of these words or comparable terminology. By its very nature forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual performance of Sierra to be materially different from any anticipated performance expressed or implied by such forward-looking information. Forward-looking information in this press release includes, but is not limited to, statements in respect of the Transaction, including the entering into of a definitive agreement in respect of the Transaction and the proposed terms and closing thereof.
Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading "Risk Factors" in the Company's annual information form dated March 15, 2024 for its fiscal year ended December 31, 2023 and other risks identified in the Company's lings with Canadian securities regulators, which are available at www.sedarplus.ca.
The risk factors referred to above are not an exhaustive list of the factors that may affect any of the Company's forward-looking information. Forward-looking information includes statements about the future and is inherently uncertain, and the Company's actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company's statements containing forward-looking information are based on the beliefs, expectations, and opinions of management on the date the statements are made, and the Company does not assume any obligation to update such forward-looking information if circumstances or management's beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.
For further information regarding Sierra Metals, please visit www.sierrametals.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240522740666/en/
Contacts
Investor Relations
Sierra Metals Inc.
+1 (866) 721-7437
info@sierrametals.com
Kootenay Silver: Drilling Dramatically Increases Strike Length of D-Vein with highs to 920 gpt Silver and 4.1% lead-zinc at Columba High-Grade Silver Project
https://www.newswire.ca/news-releases/drilling-dramatically-increases-strike-length-of-d-vein-with-highs-to-920-gpt-silver-and-4-1-lead-zinc-at-columba-high-grade-silver-project-891295622.html
Kootenay Silver Inc. May 21, 2024, 07:00 ET
VANCOUVER, BC, May 21, 2024 /CNW/ - Kootenay Silver Inc. (TSXV: KTN)
Starcore Announces Fourth Quarter Production Results
https://www.newsfilecorp.com/release/208336
May 08, 2024 2:30 AM EDT | Source: Starcore International Mines Ltd.
Vancouver, British Columbia--(Newsfile Corp. - May 8, 2024) - Starcore International Mines Ltd. (TSX: SAM)
Xali Gold Advises that Starcore has joined the Team to Develop the El Oro Tailings Project in Mexico
https://ca.finance.yahoo.com/news/xali-gold-advises-starcore-joined-110000278.html
Xali Gold Corp.
Thu, May 16, 2024 at 4:00 a.m. PDT·4 min read
CGDXF
0.00%
VANCOUVER, British Columbia, May 16, 2024 (GLOBE NEWSWIRE) -- Xali Gold Corp. (TSXV:XGC) ("Xali Gold” or “the Company”) is pleased to announce that Kappes, Cassiday & Associates (“KCA”) has advised us they have teamed up with Starcore International Mines Ltd. (“Starcore”) to put into production our environmental rehabilitation project to clean up mine tailings from our Mexican Mine Tailings Reprocessing Project (“Tailings Reprocessing”) at El Oro in Mexico (the “El Oro Tailings Project”). Starcore and KCA have entered into a joint venture, with KCA contributing its expertise and services for the project aimed at rehabilitating the environment, while Starcore assumes the role of Operator and Financier for the joint venture.
“We are very pleased with the strategy that KCA has brought to our Tailings Reprocessing project,” says Joanne Freeze, President and CEO of Xali Gold. “We received the Change of Soil Usage permit almost a year ago, which allows the Tailings to be moved out of the historical deposition site from within the town of El Oro. KCA has now teamed up with Starcore to use their already permitted mine plant site for the Reprocessing which is expected to significantly shorten the timeline to production.”
Recent test work by KCA on the El Oro Tailings Project indicates excellent potential for 72% recovery of gold and 80% recovery of silver using a process being introduced to Xali Gold by KCA. This process would allow the gold and silver to be produced in the form of Dore, which enhances the value of the royalty stream agreed to with Xali Gold. Overall recoveries will need further testing to establish a better estimate for overall recoveries of gold and silver, but KCA is very optimistic about the process.
KCA will oversee all metallurgical and engineering studies and designs, for the Tailings Reprocessing Project, and recovery of the precious metal from the Project. Starcore will cover the Capital Costs for plant construction and take on the role of Operator.
As per the Company’s April 15, 2024 News Release, Xali Gold entered into a Letter of Intent to enter into a Purchase Agreement with KCA on the El Oro Tailings Project. Once production begins on the El Oro Tailings Project, KCA will pay Xali Gold a gross royalty equal to 4% of the sales income received from all gold and silver produced, less any royalties due and payable to others (the Municipality of El Oro), but in no case less than a 3% gross royalty.
About Starcore
Starcore is engaged in precious metals production with focus and experience in Mexico. While this base of producing assets has been complemented by exploration and development projects throughout North America, Starcore has expanded its reach internationally with the recently acquired project in Côte d’Ivoire. The Company is a leader in Corporate Social Responsibility and advocates value driven decisions that will increase long term shareholder value. You can find more information on the investor friendly website here: www.starcore.com
Shares for Debt
The Company also advises that as per the Xali Gold News Release dated May 2, it has issued shares of the Company to Lotz CPA Inc, in order to cover the debt due for CFO consulting fees over 5 years. The Common Shares issued pursuant to the shares for debt settlement will be subject to a four month hold period.
About Xali Gold
Xali Gold has gold and silver projects in Peru and Mexico. The Company’s flagship project El Oro is a district scale gold project encompassing a well-known prolific high-grade gold dominant gold-silver epithermal vein system in Mexico. The project covers 20 veins with past production and more than 57 veins in total, from which approximately 6.4 million ounces of gold and 74 million ounces of silver were reported to have been produced from just two of these veins (Ref. Mexico Geological Service Bulletin Nr. 37, Mining of the El Oro and Tlapujahua Districts. 1920, T. Flores).
Modern understanding of epithermal vein systems indicates that several of the El Oro district’s veins hold excellent discovery potential, particularly below and adjacent to the historic workings of the San Rafael Vein, which was mined to an average depth of only 200m.
Xali Gold is dedicated to being a responsible Community partner.
Joanne C. Freeze, P.Geo., President and CEO is the Qualified Person as defined by National Instrument 43-101 for the projects discussed above. Ms. Freeze has reviewed and approved the contents of this release.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Information
This news release may contain forward-looking information (as such term is defined under Canadian securities laws) including but not limited to historical production records. While such forward-looking information is expressed by Xali Gold in good faith and believed by Xali Gold to have a reasonable basis, they may address future events and conditions and are therefore subject to inherent risks and uncertainties including those set out in Xali Gold’s MD&A. Factors that cause the actual results to differ materially from those in forward-looking information include, without limitation, gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, potential environmental issues, availability of capital and financing and general economic, market or business conditions. Xali Gold expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
On behalf of the Board of Xali Gold Corp.
“Joanne Freeze” P.Geo.
President, CEO and Director
For further information please contact:
Joanne Freeze, President & CEO
Tel: + 1 (604) 689-1957
info@xaligold.com
Discovery Reports First Quarter 2024 Financial Results
https://ca.finance.yahoo.com/news/discovery-reports-first-quarter-2024-234400190.html
Discovery Silver Corp.
Tue, May 14, 2024 at 4:44 p.m. PDT·12 min read
DSVSF
-0.02%
TORONTO, May 14, 2024 (GLOBE NEWSWIRE) -- Discovery Silver Corp. (TSX: DSV, OTCQX: DSVSF)
SilverCrest Reports First Quarter 2024 Financial Results
https://www.newswire.ca/news-releases/silvercrest-reports-first-quarter-2024-financial-results-827725041.html
SilverCrest Metals Inc. May 14, 2024, 16:59 ET
Financial and Operational Flexibility Continue to Drive Strong Results
TSX: SIL | NYSE American: SILV
Savanna Provides Update on Qualifying Transaction
https://ca.finance.yahoo.com/news/savanna-provides-qualifying-transaction-213000865.html
Savanna Capital Corp.
Thu, May 9, 2024 at 2:30 p.m. PDT·4 min read
SAC-P.V
0.00%
Not for distribution to United States newswire services or for release publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States.
TORONTO, May 09, 2024 (GLOBE NEWSWIRE) -- SAVANNA CAPITAL CORP. (“Savanna” or the “Company”) (TSX-V: SAC.P), a capital pool company as defined under Policy 2.4 – Capital Pool Companies (the “CPC Policy”) of the TSX Venture Exchange (the “Exchange”), provides an update to its press release dated March 4, 2022 and November 9, 2022 (the “Press Releases”) whereby Savanna announced that it had entered into a definitive agreement dated March 1, 2022 (the “Definitive Agreement”) with 1000090242 Ontario Inc., a privately held corporation existing under the laws of the Province of Ontario (“San Luis ON”), relating to the proposed business combination (the “Proposed Transaction”) with Exploranciones de SL Cordero, S.A. de C.V. (“San Luis MX”), a Mexican wholly-owned subsidiary of San Luis ON (San Luis MX and San Luis ON are collectively referred to hereinafter as “San Luis”).
Savanna and San Luis have entered into an amendment to the Definitive Agreement to extend the closing date of the Proposed Transaction to November 30, 2024. The closing of the Proposed Transaction is subject to, among other items, San Luis ON completing a non-brokered private placement of units for minimum gross proceeds of $1,500,000 (as further described in the Press Releases).
Savanna is currently halted from trading pending final Exchange approval of the Proposed Transaction
About Savanna
Savanna is a capital pool company listed on the Exchange.
About San Luis
San Luis ON is a private Ontario corporation that holds a 100% interest in San Luis MX. San Luis MX holds the mineral claims covering approximately 1,216.99 ha in the Municipality of San Luis del Cordero in the State of Durango, Mexico (the “San Luis Property”). Further details on the historical activities of San Luis and the San Luis Property will be provided in the Filing Statement for the Resulting Issuer and the National Instrument 43-101: Standards of Disclosure of Mineral Projects with respect to the San Luis Property.
Further Information
For further information regarding the Proposed Transaction, please contact:
Savanna Capital Corp.
Kenny Choi
Tel: (416) 861-2262
E-mail: Kenny.choi@fmresources.ca
San Luis
Aaron Atin
Tel: (416) 861-5888
Email: aaron.atin@fmresources.ca
Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information release or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this news release
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the terms and conditions of the Proposed Transaction; the proposed officers and directors of the Resulting Issuer; the Concurrent Financing; and the business and operations of the Resulting Issuer after the Proposed Transaction. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release.
Readers should not place undue reliance on the forward-looking statements and information contained in this news release. Savanna and San Luis assume no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
The securities to be offered in the Concurrent Financing have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Mammoth Announces Greater than One Million Ounce Gold Equivalent Target for Further Exploration at its Tenoriba, Gold-Silver Property, Mexico
https://thenewswire.com/press-releases/1LymFPq1a-mammoth-announces-greater-than-one-million-ounce-gold-equivalent-target-for-further-exploration-at-its-tenoriba-gold-silver-property-mexico.html
Toronto, Canada – TheNewswire - (May 15, 2024) - Mammoth Resources Corp. (TSX-V: MTH)
Prime Mining Q1 2024 Financial and Operating Results
https://ca.finance.yahoo.com/news/prime-mining-q1-2024-financial-221500094.html
Prime Mining Corp.
Mon, May 13, 2024 at 3:15 p.m. PDT·16 min read
PRMNF
+7.24%
VANCOUVER, British Columbia, May 13, 2024 (GLOBE NEWSWIRE) -- Prime Mining Corp. (“Prime”, or the “Company”) (TSV: PRYM) (OTCQX: PRMNF) (Frankfurt: O4V3)
Tocvan Drills Biggest Intersect Outside of Main Zone to Date Returns 56.4 meters of 1.0 g/t Gold Near Surface, Including 9.2 meters of 5.3 g/t Gold
https://www.accesswire.com/862886/tocvan-drills-biggest-intersect-outside-of-main-zone-to-date-returns-564-meters-of-10-gt-gold-near-surface-including-92-meters-of-53-gt-gold
Tuesday, 14 May 2024 08:00 AM
Highlights:
First Results for 2024 Drill Program Return Best Ever Intersect from 4-T Trend, 400 meters East of Main Zone
Drilling Intersects 56.4 meters of 1.0 g/t Au, 18.3 meters from Surface in Drillhole JES-24-77
Including 9.2 meters of 5.3 g/t Au, 27.5 meters from surface
Top 5 Drill Result from Tocvan Programs to Date
JES-20-32, 94.6m of 1.6 g/t Au and 9 g/t Ag (RC)
JES-22-59, 116.9m of 1.2 g/t Au and 7 g/t Ag (Core)
JES-22-62, 108.6m of 0.8 g/t Au and 3 g/t Ag (Core)
JES-20-36, 24.2m of 2.5 g/t Au and 73 g/t Ag (RC)
NEW - JES-24-77, 56.4m of 1.0 g/t Au and 1 g/t Ag (RC)
Opens Up Resource Potential Along Eastern Corridor
Additional Results Pending
CALGARY, AB / ACCESSWIRE / May 14, 2024 / Tocvan Ventures Corp. (the "Company") (CSE:TOC)(OTCQB:TCVNF)(FSE:TV3)
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)
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