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Prime Releases Final 2023 Drilling Results and Recap from Los Reyes
https://ca.finance.yahoo.com/news/prime-releases-final-2023-drilling-110000859.html
Prime Mining Corp.
Wed, February 21, 2024 at 3:00 a.m. PST·2
Torex Gold Reports an Excellent Close to 2023
Fully funded to complete Media Luna Project with approximately $465 million of liquidity
https://www.newsfilecorp.com/release/198728
February 21, 2024 6:11 PM EST | Source: Torex Gold Resources Inc.
(All amounts expressed in U.S. dollars unless otherwise stated)
Toronto, Ontario--(Newsfile Corp. - February 21, 2024) - Torex Gold Resources Inc. (the "Company" or "Torex") (TSX: TXG)
Gatos Silver Reports Fourth Quarter and Full Year 2023 Results and Provides 2024 Guidance
https://ca.finance.yahoo.com/news/gatos-silver-reports-fourth-quarter-053200080.html
Gatos Silver, Inc.
Tue, February 20, 2024 at 9:32 p.m. PST
GATO
+3.69%
VANCOUVER, British Columbia, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Gatos Silver, Inc. (NYSE/TSX: GATO)
Silver Tiger Provides Update on Progress of Pre-Feasibility Study
https://www.accesswire.com/835696/silver-tiger-provides-update-on-progress-of-pre-feasibility-study
Thursday, 22 February 2024 07:00 AM
HALIFAX, NS / ACCESSWIRE / February 22, 2024 / Silver Tiger Metals Inc. (TSXV:SLVR)(OTCQX:SLVTF)
SilverCrest Provides 2024 Guidance
https://www.prnewswire.com/news-releases/silvercrest-provides-2024-guidance-302066585.html
SilverCrest Metals Inc. 20 Feb, 2024, 16:30 ET
TSX: SIL | NYSE American: SILV
Orla Mining Discovers New Style of Sulphide Mineralization at Camino Rojo Extending 0.5km Beyond Current Resources
https://www.newswire.ca/news-releases/orla-mining-discovers-new-style-of-sulphide-mineralization-at-camino-rojo-extending-0-5km-beyond-current-resources-828293726.html
Orla Mining Ltd. Feb 22, 2024, 06:00 ET
4.86 g/t Au, 43.6g/t Ag, 1.27% Zn, 0.44% Pb, 0.09% Cu, (6.25 g/t AuEq) over 11.7 m,
incl. 28.6 g/t Au, 224g/t Ag, 4.35% Zn, 2.89% Pb, 0.29% Cu, (34.4 g/t AuEq) over 1.7 m
10.3 g/t Au, 37.8 g/t Ag, 3.81% Zn, 0.08% Pb, 0.12% Cu (12.7 g/t AuEq) over 5.6 m,
incl. 17.8 g/t Au, 71.0 g/t Ag, 7.19% Zn, 0.15% Pb, 0.17% Cu (22.3 g/t AuEq) over 2.9 m
VANCOUVER, BC, Feb. 22, 2024 /CNW/ - Orla Mining Ltd. (TSX: OLA) (NYSE: ORLA)
Silver Storm Drills 911 g/t Ag.Eq Over 13.05 m, Expanding C460 Zone 74 m at Depth
https://finance.yahoo.com/news/silver-storm-drills-911-g-120000508.html#
Business Wire
Thu, February 22, 2024 at 4:00 AM PST
Minera Alamos Announces Santana Operations 2024 Outlook
https://www.newsfilecorp.com/release/198882
February 22, 2024 7:36 AM EST | Source: Minera Alamos Inc.
Toronto, Ontario--(Newsfile Corp. - February 22, 2024) - Minera Alamos Inc. (TSXV: MAI) (the "Company" or "Minera Alamos") is pleased to provide an operations update for the Santana gold project outlining updated plans for expanding mining and processing operations over the next year.
"Last year was challenging for both our operations and our shareholders. However, we are optimistic that 2024 will see significant positive advancements at the Santana gold mine," stated Darren Koningen, CEO. "A newly modelled approach to the development of Santana utilizing the existing leach pad capacity will allow mining and stacking operations to increase significantly from 2023 levels. We are currently finalizing plans for the year and concluding our discussions with our mining contractor to implement the new production plans. In parallel we will continue our active conversations regarding approval of our permit amendments covering the future development for the Santana mine."
2024 Outlook
In late 2023, the Minera operations team evaluated a series of operation scenarios aimed at balancing future planned leach pad expansion (awaiting permit amendments) against a shorter-term plan to expand mining and stacking activities using the current permitted pad space. Modelling results supported a plan of operations that can be conducted prior to any pad expansion required for longer term production plans. During 2023, the Company initiated some advanced development activities at the Nicho Main zone as preparation for the new plan of operations. This included:
Pioneering/pre-stripping of waste material within the proposed 2024 mining areas.
Blasting and crushing studies using material from the Nicho Main zone to determine any significant differences in the rock mechanical properties versus those for the Nicho Norte starter pit operations that were the focus of 2021-2023 mining.
Approximately 20,000 oz of gold at an average grade of 0.63 g/t and an approximate strip ratio of 1.6:1 has now been defined for mining and loading over a 12-month schedule utilizing the current leach pad installed capacity. Included in the current plan are an additional 4,500 oz of higher grade (~1 g/t) mineralized material. Due to its elevated gold content, this mineralization will be stockpiled initially for future processing pending additional studies to determine an optimal approach for crushing and processing to maximize recoveries.
The Company is working to conclude discussions with its mining contractor to prepare their equipment and personnel for the revised operational plan and expansion of mining and stacking activities. Included in the plan are minor modifications to the crushing equipment to help with processing and gold recoveries. Subject to a successful conclusion of the current discussions, the Company anticipates the upgrades to the Santana operations will be phased in over the next month or so which will allow production levels to significantly increase from 2023 levels.
Further details regarding the Company's 2023 full year financial results will be provided prior to the end of April 2024 along with ongoing updates regarding the new plan for the Santana mining operations.
Cautionary Statement
The Company made its production decision at the Santana gold mine without having completed a feasibility study demonstrating economic and technical viability. As such, there may be increased uncertainty of achieving planned production levels, estimated recovery of gold, the costs associated with such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure.
Mr. Darren Koningen, P. Eng., Minera Alamos' CEO, is the Qualified Person responsible for the technical content of this press release under National Instrument 43-101.
For Further Information Please Contact:
Minera Alamos Inc.
Doug Ramshaw, President
Tel: 604-600-4423
Email: dramshaw@mineraalamos.com
Victoria Vargas de Szarzynski, VP Investor Relations
Tel: 289-242-3599
Email: vvargas@mineraalamos.com
Website: www.mineraalamos.com
About Minera Alamos Inc.
Minera Alamos is a gold production and development Company undergoing the operational start-up of its first gold mine that produced its first gold in October 2021. The Company has a portfolio of high-quality Mexican assets, including the 100%-owned Santana open-pit, heap-leach mine in Sonora that is currently going through its operational ramp up. The 100%-owned Cerro de Oro oxide gold project in northern Zacatecas has considerable past drilling and metallurgical work completed and the proposed mining project is currently being guided through the permitting process by the Company's permitting consultants. The La Fortuna open pit gold project in Durango (100%-owned) has a positive, robust preliminary economic assessment (PEA) completed, and the main Federal permits are in place. Minera Alamos is built around its operating team that together brought three open pit heap leach gold mines into successful production in Mexico over the last 13 years.
The Company's strategy is to develop very low capex assets while expanding the projects' resources and continuing to pursue complementary strategic acquisitions.
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking information and Minera Alamos cautions readers that forward-looking information is based on certain assumptions and risk factors that could cause actual results to differ materially from the expectations of Minera Alamos included in this news release. This news release includes certain "forward-looking statements", which often, but not always, can be identified by the use of words such as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". These statements are based on information currently available to Minera Alamos and Minera Alamos provides no assurance that actual results will meet management's expectations. Forward-looking statements include timing, cost estimates and statements with respect to Minera Alamos' future plans, objectives and goals with respect to the Cerro de Oro gold mine including the receipt of permits and construction timeline, and the satisfaction by the Company of the closing conditions to draw the Remaining Amount. Since forward-looking statements are based on assumptions and address future events and conditions that, by their very nature involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, the economics of processing methods, project development, reclamation and capital costs of Minera Alamos' mineral properties, the ability to complete a preliminary economic assessment which supports the technical and economic viability of mineral production could differ materially from those currently anticipated in such statements for many reasons. Minera Alamos' financial condition and prospects could differ materially from those currently anticipated in such statements for many reasons such as: an inability to finance and/or complete an updated resource and reserve estimate and a preliminary economic assessment which supports the technical and economic viability of mineral production; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Minera Alamos' activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Minera Alamos' forward-looking statements. These and other factors should be considered carefully, and readers should not place undue reliance on Minera Alamos' forward-looking statements. Minera Alamos does not undertake to update any forward-looking statement that may be made from time to time by Minera Alamos or on its behalf, except in accordance with applicable securities laws.
The Company does not have a feasibility study of mineral reserves, demonstrating economic and technical viability for the Santana project, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE: Minera Alamos Inc.
Luca Mining Reports Significant Improvements at Campo Morado
https://www.prnewswire.com/news-releases/luca-mining-reports-significant-improvements-at-campo-morado-302067053.html
Luca Mining Corp. 21 Feb, 2024, 07:00 ET
VANCOUVER, BC, Feb. 21, 2024 /PRNewswire/ - Luca Mining Corp. ("Luca" or the "Company") (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) is pleased to provide an update on the optimization program at its wholly-owned Campo Morado polymetallic mine in Guererro, Mexico.
Image 1 (CNW Group/Luca Mining Corp.)
Image 2 (CNW Group/Luca Mining Corp.)
Significantly improved overall performance in Q4 2023 compared to previous quarters, yielding increased revenues.
Plant performance exceeded expectations with operational consistency.
Higher metallurgical recoveries and concentrate grades. Of note, copper in the bulk concentrate increased from less than 48% recovery to over 70% recovery.
Mike Struthers, CEO, commented, "The results we're achieving at Campo Morado are better than expectations, and it's extremely encouraging to see we can consistently maintain this performance week after week. The new regime of blending ore types from the mine is proving very successful by providing consistent feed to the plant and we expect this to continue to trend upwards during the year."
Ramon Perez, President, commented, "The dedication and hard work of our team and our consultants Ausenco over the past four months are yielding tangible results. While we acknowledge this achievement, we remain committed to further enhancing the mine's performance and diversifying our revenue streams, particularly through a clean copper-lead separation. We anticipate sharing further positive updates on the progress of both Campo Morado and the Tahuehueto mine with the market in the very near future."
Summary
The optimization program, known as the Campo Morado Improvement Project ("CMIP"), was formulated in Q4 2023 with the aim of significantly improving operational performance with a comprehensive strategy between the mine and mill. Key features of the program include effective mine-to-mill planning, new procedures for ore blending, increased metallurgical test work, optimized grinding and reagent dosing for improved recoveries, and phased equipment upgrades for mine and mill.
The results to date have been excellent, and include higher metallurgical recoveries and concentrate grades, especially for copper in the bulk concentrate, which are reflected in increased revenues. Plant performance in Q4 2023 met or exceeded expectations, particularly in the bulk circuit where copper recovery increased from less than 48% to over 70%.
Most notably, the operation increased copper recovery dramatically, by over 20%, whilst improving concentrate grades to over 14%.
Additional equipment was added to the mine to improve operational consistency, and in the plant a number of initiatives were completed, including adjusted reagent dosing schemes, and upgraded process control instrumentation.
Currently the operation produces a zinc concentrate, and a mixed (bulk) copper-lead concentrate.
Metallurgical test work at the ALS laboratories in Canada continues, with the goal to achieve a clean copper-lead separation, thereby producing three saleable concentrates (zinc, copper, lead) resulting in much improved revenues.
Mike Struthers, commented, "The progressive investments in plant improvements will continue over the coming months. This is an exciting year for the operations and the Company."
Stock Options
The Company announces that pursuant to its Omnibus Equity Incentive Plan, it has granted incentive stock options to purchase an aggregate 200,000 shares in the capital stock of the Company. The options will be exercisable at a price of $0.35 per share for a period of 5 years.
About Luca Mining Corp.
Luca Mining (TSX-V: LUCA, OTCQX: LUCMF, Frankfurt: Z68) is a diversified Canadian mining company with two 100%-owned producing mines in Mexico. The Company produces gold, copper, zinc, silver and lead from these mines that each have considerable development and resource upside.
The Campo Morado mine, is an underground operation located in Guerrero State, a prolific mining region in Mexico. It produces copper-zinc-lead concentrates with precious metals credits. It is currently undergoing an optimisation program which is already generating significant improvements in recoveries and grades, efficiencies, and cashflows.
The Tahuehueto Gold Mine is a new underground operation in Durango State, Mexico, within the Sierra Madre Mineral Belt which hosts numerous producing and historic mines along its trend. The Company is commissioning its mill capacity to +1,000 tonnes per day, and key test work and production ramp-up is underway, to increase production by 2H 2024.
The Company expects its operations to start generating positive cash flows in 2024. Luca Mining is focused on growth with the aim of maximizing shareholder returns.
For more information, please visit: www.lucamining.com
On Behalf of the Board of Directors
(signed) "Mike Struthers"
Mike Struthers, CEO and Director
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).
Free 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 Produces 329,934 Silver-Equivalent Ounces in January 2024
https://www.accesswire.com/833225/guanajuato-silver-produces-329934-silver-equivalent-ounces-in-january-2024
Tuesday, 13 February 2024 06:38 AM
3rd Party Processing Adds over 40,000 ounces AgEq*
VANCOUVER, BC / ACCESSWIRE / February 13, 2024 / Vancouver, British Columbia - Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR)(OTCQX:GSVRF)
Mexican Court Confirms Defiance Ownership of the Tepal Project
https://www.newsfilecorp.com/release/198050
February 15, 2024 10:30 AM EST | Source: Defiance Silver Corp.
Vancouver, British Columbia--(Newsfile Corp. - February 15, 2024) - Defiance Silver Corp. (TSXV: DEF) (FSE: D4E) (WKN: A1JQW5) ("Defiance" or the "Company") is pleased to report the favorable ruling of the Mexican Court, dated February 13, 2024, to restore its rightful ownership to the mining concessions forming part of the Tepal Project. In June 2022, after having been made aware that certain mineral concessions had been illegally and fraudulently transferred to a third party individual without the Company's knowledge or consent (see new release dated June 24, 2022 for the original announcement), the Company commenced legal procedures in Mexico to contest and nullify this illegal transfer.
In its judgement, the Court notably confirmed the nullity of the transfer of the concessions, ordered the cancellation of the such transfer title and recognized Geologix Explorations Mexico, S.V de C.A, a subsidiary of the Company, as legitimate and the rightful owner of the concessions. The judgement will be fully enforceable at the expiration of a 9-day appeal process expiring on February 27, 2024.
Chris Wright, Chairman & Chief Executive Officer declared: "We had always remained confident throughout the judicial process that our rightful ownership rights would be restored. We also understood that the process would take some time as we commenced the legal proceedings in Mexico. Our patience and perseverance has paid off and we are looking forward to advancing this exceptional copper-gold project."
About Defiance Silver Corp.
Defiance Silver Corp. (TSXV: DEF) (OTCQX: DNCVF) (FSE: D4E) is an exploration company advancing the district-scale Zacatecas project, located in the historic Zacatecas Silver District and the Tepal Gold/Copper Project in Michoacán state, Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring, advancing, and developing several operating mines and advanced resource projects. Defiance's corporate mandate is to expand the San Acacio and Tepal projects to become premier Mexican silver and gold deposits.
On behalf of Defiance Silver Corp.
"Chris Wright"
CEO & Chairman of the Board
For more information, please contact: Investor Relations at +1 (604) 343-4677 or via email at info@defiancesilver.com
www.defiancesilver.com
Suite 2900-550 Burrard Street
Vancouver, BC V6C 0A3
Canada
Tel: +1 (604) 343-4677
Email: info@defiancesilver.com
Disclaimer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Defiance Silver Corp.
Discovery Silver: Positive Feasibility Results Establish Cordero as One of the World’s Leading Development-Stage Silver Projects
https://ca.finance.yahoo.com/news/positive-feasibility-results-establish-cordero-110000148.html
Discovery Silver Corp.
Tue, February 20, 2024 at 3:00 a.m. PST
Prismo Metals' Los Pavitos Gold Footprint Grows 2.5 km to the Northeast and Silver Footprint Also Grows 1 km
https://www.newsfilecorp.com/release/198513
February 20, 2024 7:40 AM EST | Source: Prismo Metals Inc.
Vancouver, British Columbia--(Newsfile Corp. - February 20, 2024) - Prismo Metals Inc. (CSE: PRIZ) (OTCQB: PMOMF)
Infintium Copper Applies for Mining Permits and Receives Results of Metallurgical Test Work
https://www.accesswire.com/834388/market-update--infintium-copper-applies-for-mining-permits-and-receives-results-of-metallurgical-test-work
Friday, 16 February 2024 08:00
VANCOUVER, BC / ACCESSWIRE / February 16, 2024 / Infinitum Copper Corp. (TSXV:INFI)(OTCQB:INUMF) ("Infinitum" or the "Company") is pleased to report that it has applied for a mining permit to the environmental authority ("SEMARNAT") in Mexico following receipt of successful metallurgical test work.
Mining Permits
A Mining Impact Assessment ("MIA") was recently completed and has now been submitted to the Secretaria de Medio Ambiente y Recursos Naturales ("SEMARNAT"). SEMARNAT is the Mexican government department responsible for the issue of mining permits. La Adelita has seen historic artisanal mining focused around the adit on the eastern flank of the Cerro Grande anticline. As mining has traditionally taken place in the Cerro Grande area and the Company expects to access the mineralised body through the existing adit the permitting process is not expected to be overly complex.
Metallurgical Test Work
The Company has also recently received the results of metallurgical tests from Servicio Geologico Mexicano ("SGM"). Approximately 20 kilograms of material with a head grade of 1.88% Cu, 1.05 g/t Au and 74 g/t Ag was delivered to SGM in Chihuahua in Late 2023. Flotation tests demonstrated that the material is amenable to standard flotation process with 77% Au recovered, 86.14% Ag and 85.21% Cu. The material has a high specific gravity of 3.485.
"We are very pleased with the results of the metallurgical test work. With these results in hand we will look to find an offtake partner among the many operating mines in the surrounding area. Using historic drilling in the Cerro Grande area we will look to follow the mineralised body from the adit back towards known mineralised zones. Approaching the mineralised body from underground will further develop our understanding of the La Adelita mineralization" says Matt Hudson, President and CEO of Infinitum Copper.
Qualified Person
Steve Robertson, Chairman of the Company, has acted as the Qualified Person as defined in National Instrument 43-101 for this disclosure and supervised the preparation of the technical information in this release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking information" within the meaning of Canadian securities legislation. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by the Company at the date the forward-looking information is provided, are inherently subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially different from those expressed or implied by the forward-looking information. The risks, uncertainties, contingencies, and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking information may include, but are not limited to, risks generally associated with the Company's business, as described in the Company's Filing Statement dated February 11, 2022. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
INFINITUM COPPER CORP.
Matt Hudson
Chief Executive Officer
matt@infinitumcopper.com
SOURCE: Infinitum Copper
Silver Dollar Samples Up to 4,311 g/t AgEQ at its 100%-Owned La Joya Silver Project
Target development continues and the Company is fully funded for next phase of drilling once priority targets are defined
https://www.newsfilecorp.com/release/197674
February 13, 2024 7:30 AM EST | Source: Silver Dollar Resources Inc.
Vancouver, British Columbia--(Newsfile Corp. - February 13, 2024) - Silver Dollar Resources Inc. (CSE: SLV) (OTCQX: SLVDF) (FSE: 4YW) ("Silver Dollar" or the "Company") is pleased to provide an update on drill target development work on the underexplored Coloradito-Noria portion of the La Joya silver (Cu-Au) property (the "Property") located in the state of Durango, Mexico.
Figure 1: Coloradito-Noria geology and MAG targets.
To view an enhanced version of this graphic, please visit:
https://silverdollarresources.com/images/LaJoya/Coloradito-Noria_Geology-MAG-Targets.jpg
Target development work has primarily consisted of geological mapping with limited drill testing to follow up on data from the ground magnetic (MAG) survey conducted in 2022. As previously reported (See news release of December 15, 2022), the MAG survey identified three notable anomalies (Figure 1: S-1, S-2 and S-3):
S-1 is a parallel zone to S-2 located 400 metres (m) to the east in a generally blind area mostly covered with caliche (hardpan) with limited outcrops of limestone and hornfels. Samples assayed from this area have not returned any significant results to date despite the magnetic reactions exhibited by some of the samples.
S-2, located approximately 400 m east of S-3, is now known as the Central Dyke Zone where mineralization is found in association with a dyke that runs north-south to north-northwest through the central part of Cerro Coloradito. This is the priority area for drill target development with exploration results described in detail below.
S-3 is coincident with the Brazo Zone where drill testing in hole NOR-23-030 encountered intense and extensive alteration but did not intersect Brazo style mineralization. A sharp change in angle of the intrusive contact underscores the importance of the structural mapping that has been taking place to better refine targeting for future drilling.
Central Dyke Zone:
Mapping and sampling to date has included the collection of 156 channel samples along with 14 rock samples taken from outcrop and dumps that have delineated the Central Dyke Zone over a strike length of 770 m. Analytical results for all samples have been received with 134 of the 170 samples collected returning assays greater than 100 grams per tonne (g/t) silver equivalent (AgEq). Notably, sample #161 taken from a historical underground working called Hueco Grande returned the highest grade with an assay of 4,311 g/t (or 152.07 ounces per tonne) AgEq (Photos 1 and 2).
Photos 1 and 2: Sample 161 and where it was taken within the Hueco Grande historical working.
To view an enhanced version of this graphic, please visit:
https://silverdollarresources.com/images/LaJoya/HG-Sample-161-w-location.jpg
The breakdown of the Central Dyke Zone sample assays greater than (>)100 g/t AgEq includes:
67 samples >100ppm AgEq,
39 samples >200ppm AgEq,
20 samples > 400ppm AqEq, and
8 samples >700ppm AgEq.
Note:
The rock samples results and the photograph above are selective by nature and may not be representative of the true grade or style of mineralization across the Property.
The AgEq results disclosed herein assume US$1,750 gold and US$22 silver per/oz, and US$4.30 copper, US$1.25 lead, and US$1.50 zinc per/lb, and 100% metallurgical recovery.
Ongoing work includes additional trenching to further expose, sample, and interpret the Central Dyke mineralization with the aim of refining and defining potential drill targets.
Photos 3 and 4: Trenching in the Central Dyke Zone.
To view an enhanced version of this graphic, please visit:
https://silverdollarresources.com/images/LaJoya/CDZ-Trenching-Sampling.jpg
"We are very pleased with the La Joya target development work and particularly the stellar sampling results that have now delineated the Central Dyke Zone over a strike length of 770 metres," said Michael Romanik, president of Silver Dollar. "Notably, sample 161 from the Hueco Grande working returned our highest grade to date on the Property at 152.07 ounces per tonne silver equivalent."
Procedure, quality assurance/quality control and data verification:
All rock samples were taken, described, photographed, and bagged, on site. They were delivered by Silver Dollar staff to ActLabs in Zacatecas, Mexico, ActLabs is ISO 9001:2015 certified. Gold is analyzed by a 30g Fire Assay with AA (atomic absorption spectroscopy) finish, then gravimetric finish if greater than 10ppm Gold. Silver and 34 other elements were analyzed using a four-acid digestion with an ICP-OES (Inductively Coupled Plasma Optical Emission spectroscopy) finish. Silver, lead, zinc, and copper over limits were re-assayed using an ore-grade four-acid digestion with ICP-AES (Inductively coupled plasma atomic emission spectroscopy) 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 quality assurance and quality control protocol.
About the La Joya Silver Property:
La Joya is an advanced exploration stage property consisting of 15 mineral concessions totaling 4,646 hectares and hosts the Main Mineralized Trend (MMT), Santo Nino, and Coloradito deposits.
The previous operator, Silvercrest Mines, released a Preliminary Economic Assessment (PEA) NI 43-101 Technical Report on the La Joya Property in December 2013. The PEA included a mineral resource estimate on the MMT and Santo Nino deposits (See Table) that was based on 89 holes totaling 30,085 m of Silvercrest's drilling between 2010 and 2012 (See Resource area model). The mineral resource estimate was reported to conform to CIM definitions for resource estimation; however, a qualified person of Silver Dollar has not done sufficient work to classify the historical resource, and the Company is not treating it as a current mineral resource. Independent data verification and an assessment of the mineral resource estimation methods are required to verify the historical mineral resource.
Figure 2: Planview of the MMT, Santo Nino and Coloradito deposits, and Brazo and Central Dyke zones.
To view an enhanced version of this graphic, please visit:
https://silverdollarresources.com/images/LaJoya/LaJoya-5c.jpg
The Property is situated approximately 75 kilometres southeast of the Durango state capital city of Durango in a high-grade silver region with past-producing and operating mines, including Silver Storm's La Parrilla Mine, Industrias Penoles' Sabinas Mine, Grupo Mexico's San Martin Mine, Sabinas Mine, First Majestic's Del Toro Mine, and Pan American Silver's La Colorada Mine (See location map). Access and infrastructure near the Property are excellent.
Mike Kilbourne, P.Geo., an independent Qualified Person (QP) as defined in NI 43-101, has reviewed and approved the technical contents of this news release on behalf of the Company.
About Silver Dollar Resources Inc.
Silver Dollar is a mineral exploration company that is fully funded to execute its near-term exploration plans having closed its last financing with lead orders from billionaire mining investor Eric Sprott and NYSE-listed First Majestic Silver. The Company's primary projects lie within Mexico's prolific Durango-Zacatecas silver-gold belt and include the flagship La Joya silver (Cu-Au) property and the Nora silver-gold property. Management has an aggressive growth strategy and is actively reviewing potential acquisitions with a focus on drill-ready projects in mining-friendly jurisdictions.
For additional information, you can download our latest presentation by clicking here and you can follow us on Twitter by clicking here.
ON BEHALF OF THE BOARD
Signed "Michael Romanik"
Michael Romanik,
President, CEO & Director
Silver Dollar Resources Inc.
Direct line: (204) 724-0613
Email: mike@silverdollarresources.com
179 - 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9
Forward-Looking Statements:
This news release may contain "forward-looking statements." Forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other factors that 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 statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this news release.
SOURCE: Silver Dollar Resources Inc.
Asia Broadband Confirms Mining Title Registry Update for the La Paz Gold Mine Project in Etzatlan, Mexico, As Drilling Program Continues
https://ca.finance.yahoo.com/news/asia-broadband-confirms-mining-title-130000353.html
Asia Broadband Inc.
Wed, February 14, 2024 at 5:00 a.m. PST·3 min read
AABB
-1.47%
OTCM
0.00%
LAS VEGAS, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company has confirmed the property title concession registration in the Mexican Mining Registry for its 100% owned La Paz Gold Mine Project concession 236301, located in Etzatlan, Jalisco, Mexico. In previous months, an administrative processing backlog at the Registry delayed the ownership update for a considerable time. However, along with the title update, AABB recently continued its development and drilling program at the La Paz property after pausing the work program in the fall of 2023 to redeploy needed equipment to the Company’s Bonanza property project. Further details of the La Paz drill program are expected to be released soon as they become available.
To view the La Paz Project mining registration PDF, input Title Number 236301 at:
https://tarjetarpm.economia.gob.mx/tarjeta.mineria/
“It’s very gratifying to see the title finally showing in the Mexican Mining registry after a lengthy update delay. Additionally, our mining team is thrilled with the significant development progress and upside potential of the La Paz property as we continue the drilling program. The La Paz project is a key strategic asset in the Company’s mining property portfolio that will facilitate the growth of our operations and profitability going forward,” stated Chris Torres, AABB President and CEO.
AABB continues to implement its mining property expansion strategy to optimize development capital utilization by focusing operations in regions of Mexico where AABB has a comparative advantage of development resources and expertise readily available for rapid expansion and duplication of the Company’s previous gold production success.
About Asia Broadband
Asia Broadband Inc. (OTC: AABB) is a resource company focused on the production, supply and sale of precious and base metals, primarily to Asian markets. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate its innovative distribution process from the production and supply of precious and base metals in Mexico to client sales networks in Asia. This vertical integration approach to sales transactions is the unique strength of AABB that differentiates the Company and creates distinctive value for shareholders. Additionally, the Company has added a digital assets business segment with its AABBG mine-to-token gold-backed cryptocurrency within its AABB Wallet, the unique Golden Baboons Mining Club non-fungible token collection and a cryptocurrency payment gateway solution PayAABB.com. AABB expects its token to become a world-wide standard of exchange that is stable, secured and trusted with gold backing, while having the added benefit of demand based price appreciation. These are unique and outstanding qualities relative to other cryptocurrencies.
Contact the Company at:
General Email:
Token Support:
Company Websites:
Phone:
ir@asiabroadbandinc.com
support@aabbgmine2token.com
www.asiabroadbandinc.com
www.aabbgmine2token.com
www.goldenbaboons.com
702-866-9054
Forward-Looking Statements are contained in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Asia Broadband Inc.’s (the “Company”) expected current beliefs about the Company’s business, which are subject to uncertainty and change. The operations and results of the Company could materially differ from what is expressed or implied by the statements made above when industry, regulatory, market and competitive circumstances change. Further information about these risks can be found in the annual and quarterly disclosures the Company has published on the OTC Markets website. The Company is under no obligation to update or alter its forward-looking statements as future circumstances, events and information may change.
Avino Provides Outlook for 2024 and Highlights Its Major 2023 Milestones
https://www.accesswire.com/833153/avino-provides-outlook-for-2024-and-highlights-its-major-2023-milestones
Tuesday, 13 February 2024 06:45
VANCOUVER, BC / ACCESSWIRE / February 13, 2024 / Avino Silver & Gold Mines Ltd. (TSX:ASM)(NYSE American:ASM)(FSE:GV6)
Endeavour Silver Provides Q4 2023 Construction Progress Update On the Terronera Mine
https://ca.finance.yahoo.com/news/endeavour-silver-provides-q4-2023-220000313.html
Endeavour Silver Corporation
Mon, February 12, 2024 at 2:00 p.m. PST·7 min read
EXK
-4.49%
VANCOUVER, British Columbia, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) provides a Q4 2023 construction progress update for its Terronera Project in Jalisco state, Mexico. A photo gallery presentation accompanies this news release and can be found here or on the Company website at Terronera Project Progress Photos. All dollar ($) references in this news release are United States dollars.
The Terronera project has made significant construction progress to date. Concrete work is well advanced, and erection of structural steel for the grinding and flotation areas has started. In early 2024, the Company provided an Updated Initial Capital Cost (“2024 Updated Scenario”), which increased the project budget by $41 million to $271 million. This increase was primarily due to a stronger Mexican Peso, ongoing inflation and availability of bulk materials such as steel, piping and electrical supplies (see news release dated January 24, 2024). As of December 31, 2023, approximately $1201 million had been invested in direct project expenditures, with project commitments totaling $1711, 2 million or 63% of the updated budget. With an experienced and seasoned team leading the project, the Company anticipates the schedule will remain in line with previous guidance, with initial production anticipated to start in the fourth quarter of 2024.
“Throughout 2023, we’ve achieved several major milestones across multiple fronts,” commented Don Gray, Chief Operating Officer. “We’ve concentrated our efforts on completing key items including earthworks for our Upper Mill Platform, procurement of equipment, and advances in plant concrete. Our underground mine development continues to advance rapidly as we look to start ore development sometime in Q2 2024. We’re extremely satisfied with Terronera’s progress thus far and remain committed to successfully completing and operating Endeavour’s next core asset.
Q4 2023 Construction and Development Highlights
As of December 31, 2023, site works and activities included:
Safety – Our strong onsite safety focus continues: The Project finished 2023 with 172 days totaling over 600,000 manhours with no lost-time accidents.
Progress – Overall project progress reached 43% completion including a 3% reduction due to the adjusted weighting related to the 2024 Updated Scenario. The project remains on track for commissioning in Q4 2024.
Engineering – Detail engineering for the mill and infrastructure began transitioning to construction support towards the end of 2023. Excavation designs for the Lower Platform and detail design for Tailing Storage Facility (“TSF”) have been advanced using supplemental geotechnical investigation results obtained in Q4 2023.
Mine Development – Over 2,200 metres of underground development were completed in 2023. The in-house mining team has been successfully transitioning from using contracted to direct-hire labor with greater development efficiencies. Development was focused on Portal 1, 2 and 4 declines for accessing ore and setting up the main ventilation circuit and haulage way; the Portal 4 incline broke through to surface and preparations are underway to complete the portal structure in Q1 2024.
Plant Site – Surface mill and infrastructure construction is now almost 50% complete; concrete works were well advanced to allow the start of vertical construction in early Q1 2024. The electromechanical contract was awarded and mobilization commenced.
Primary Crusher – Concrete has been completed for the jaw crusher foundation and the perimeter walls, including backfill and compaction.
Course Ore Stockpile and Reclaim Tunnel – The Coarse Ore Stockpile support walls have been completed along with the roof including the feeder chute imbeds. For the reclaim tunnel, concrete has been completed for two major roof sections with two sections remaining.
Grinding – The concrete of the grinding area is nearly complete and being prepared for release to the general contractor to begin structural steel and mechanical installations.
Flotation – The concrete of the flotation cell pedestals is nearly complete and being prepared for release to the general contractor to begin structural steel and mechanical installations.
Thickener – The thickener tank support pedestals were completed and was backfill initiated. Concrete work has been started for the raw water, process water, thickener surge, and concentrate storage tank pedestals and foundations.
Lower Facilities Platform and TSF – Access road construction has commenced from the Lower Platform and TSF area to the Upper Mill Platform.
Procurement – Focused on procuring bulk materials, including structural steel, piping, and electrical cable following a comprehensive scheduling for delivery that tracks construction requirements.
Onsite Personnel – The workforce had increased to 126 employees and 400 contractor workers.
Community Relations – Supporting the local municipality has continued to be a major focus with sponsoring cultural and community activities in the area.
Environmental – Environmental and social assessment initiatives continue according to schedule as outlined under the Equator Principal requirements for project loan financing.
2024 Outlook and Planning
Endeavour remains focused on advancing the Terronera Project for initial production in Q4 2024, with a comprehensive schedule and plan under the 2024 Updated Scenario.
For Q1 2024, surface construction will focus on completing concrete work to allow structural steel erection, mechanical installations and initial electrical work for the crushing, coarse-ore stockpile, grinding, flotation and tailing thickener areas. Early in Q2, excavation is anticipated to be complete for the Lower Platform, which includes facilities such as the LNG and power generation areas and the concentrate and tailing filtration areas. For Q2 and Q3, work is planned for all mill and infrastructure areas with mechanical completion and commissioning activities planned in Q4.
For the mine, development in Portal 1, 2 and 4 declines will continue with first ore development anticipated in Q2. Initial long-hole mining is planned for Q3 and cut-and-fill mining is planned with ore being stockpiled for mill ramp up. Development activities at La Luz are expected to begin in Q3 with portal construction and ramp advance to ore access anticipated in Q4. The critical path remains the TSF construction and advancing underground mine, where development efficiencies have been steadily increasing.
The Company is well-positioned to satisfy the Terronera project financing requirements and expects the first draw under the $120 million project loan debt facility in Q1 2024.
Dedicated Project Website
The Company has launched a dedicated project website, accessible at www.terronera.com, serving as a virtual hub for the local community, key stakeholders, and other interested parties to stay informed and engaged with the ongoing progress of the Terronera Project. The Company invites all stakeholders to explore the latest updates, learn about our commitment to environmental stewardship and discover the positive impacts this venture will bring to local communities.
About the Terronera Project
The Terronera project is a high-grade silver-gold project being developed in the San Sebastian mining district in Jalisco state, Mexico. It is located within the Sierra Madre volcanic belt, which hosts most of Mexico’s gold and silver deposits. It is a low-sulphidation epithermal vein system that will be mined using a combination of long hole and cut and fill techniques. The underground mine consists of two deposits, Terronera and La Luz, which will feed a centralized 2,000 tonne per day process plant. Based on the Feasibility Study, Terronera is expected to produce 4 million ounces of silver and 38,000 ounces of gold annually over its 10-year life.
For more information about the project and details of the Feasibility Study, the technical report is entitled “NI 43-101 Technical Report on the Feasibility Study of the Terronera Project, Jalisco State, Mexico” dated October 21, 2021, with an effective date of September 9, 2021, and it is available on the company website or under the Company’s name on SEDAR at www.sedar.com.
About Endeavour Silver – Endeavour is a mid-tier precious metals mining company that operates two high-grade underground silver-gold mines in Mexico. Endeavour is advancing construction of the Terronera Project and exploring its portfolio of exploration projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders.
Contact Information
Galina Meleger, VP, Investor Relations
Email: gmeleger@edrsilver.com
Website: www.edrsilver.com
Follow Endeavour Silver on Facebook, X, Instagram and LinkedIn.
Footnote:
Financial figures are based on a preliminary estimate. Final audited figures will be released with the 2023 financial statements on March 11, 2024.
Project commitments are inclusive of total project expenditures.
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding the development and financing of the Terronera Project including: capital cost estimates, anticipated timing of the project construction; anticipated timing of drawdown under the project loan debt facility, Terronera’s forecasted operations, costs and expenditures, and the timing and results of various related activities. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.
Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include but are not limited changes in production and costs guidance; the ongoing effects of inflation and supply chain issues on mine economics; national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada, Chile, the U.S.A and Mexico; financial risks due to precious metals prices; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development; risks in obtaining necessary licenses and permits; satisfaction of conditions precedent to drawdown under the project loan debt facility; the ongoing effects of inflation and supply chain issues on the Terronera Project economics; fluctuations in the prices of silver and gold, fluctuations in the currency markets (particularly the Mexican peso, Chilean peso, Canadian dollar and U.S. dollar); and challenges to the Company’s title to properties; as well as those factors described in the section “risk factors” contained in the Company’s most recent form 40F/Annual Information Form filed with the S.E.C. and Canadian securities regulatory authorities.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company’s mining operations, no material adverse change in the market price of commodities, forecasted Terronera mine economics as of 2024, mining operations will operate and the mining products will be completed in accordance with management’s expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
VIZSLA SILVER REPORTS ADDITIONAL HIGH-GRADE INTERCEPTS AT LA LUISA
https://www.newswire.ca/news-releases/vizsla-silver-reports-additional-high-grade-intercepts-at-la-luisa-859374523.html
Vizsla Silver Corp. Feb 13, 2024, 08:00 ET
NYSE: VZLA TSX-V: VZLA
Chesapeake Announces Preliminary Metallurgical Test Results Demonstrating up to 97% Gold Recoveries at Lucy Project
https://www.newsfilecorp.com/release/197682
February 13, 2024 6:00 AM EST | Source: Chesapeake Gold Corp.
Vancouver, British Columbia--(Newsfile Corp. - February 13, 2024) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF)
Luca Mining Announces Final Commissioning Phase at the Tahuehueto Gold Mine, and the Appointment of New Director
https://www.newswire.ca/news-releases/luca-mining-announces-final-commissioning-phase-at-the-tahuehueto-gold-mine-and-the-appointment-of-new-director-842431917.html
Luca Mining Corp. Feb 08, 2024, 07:00 ET
VANCOUVER, BC, Feb. 8, 2024 /CNW/ - Luca Mining Corp. ("Luca" or the "Company") (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) is pleased to provide an update on progress at its wholly-owned Tahuehueto Gold Mine in Durango, Mexico, and announces the addition of Mr. Peter Damouni to the Company's Board of Directors.
The project to increase throughput at the Tahuehueto mill to 1,000 tonnes per day is in the final commissioning stage. Testing of the second ball mill, which was the last component in the project, is well advanced and will provide a total installed grinding capacity of 1,250 tonnes per day ("tpd").
The Luca Board welcomes Peter Damouni as a new Director. Peter brings considerable market, finance and corporate experience and will open new opportunities for Luca.
Tahuehueto Gold Mine, Durango State, Mexico
Testing of the final equipment to complete construction of the 1,000 tpd operation is almost complete. In the crushing circuit, a new vibrating screen is also currently being installed, to further improve crusher system availability.
Final alignment and testing of the second 750 tpd ball mill will complete mid-February, providing an installed grinding capacity of 1,250 tpd. With routine planned maintenance downtime each month, this will ensure an actual production rate of 1,000 tpd. The other key element of this project was the second tailings press filter, which is already in operation and working in parallel with the first press filter. As a result, daily production is increasing. With the second mill commissioned, production will then progressively ramp-up to 35,000-40,000 oz gold equivalent per year.
Mike Struthers, CEO, commented, "Our team at Tahuehueto continues to push hard to commission the 1,000 tpd project at the mine. Once the second mill is commissioned, the installed grinding capacity of 1,250 tpd will provide valuable flexibility. These are very exciting times for Luca and its shareholders. The next few months will feature the achievement of a number of significant milestones that shareholders have been looking forward to since we completed our major financing and reorganization mid 2023. In particular, Luca will bring a brand-new gold mine into commercial production and with the mine optimization plan being implemented at Campo Morado we have already experienced significant cash flow improvements, which we intend to publicize on a regular basis."
New Director
The Luca Board is very pleased to welcome Mr. Peter Damouni to the Luca team. Mr Damouni has over 20 years of corporate and investment banking experience with a focus on the natural resource sector. He has served as an executive and director of a number of public companies listed on the TSX, TSXV, and LSE. During his career, he has been instrumental in developing and executing corporate strategies including equity and debt financings, restructurings, joint ventures, acquisitions and sale processes.
Mike Struthers, CEO, stated; "Having worked closely with Peter in the past, I'm very pleased to have Peter join the Luca team. He brings considerable markets, finance and corporate experience which will open new opportunities for Luca as we continue to realise our goals for 2024 and beyond."
About Luca Mining Corp.
Luca Mining (TSX-V: LUCA, OTCQX: LUCMF, Frankfurt: Z68) is a diversified Canadian mining company with two 100%-owned producing mines in Mexico. The Company produces gold, copper, zinc, silver and lead from these mines that each have considerable development and resource upside.
The Campo Morado mine, is an underground operation located in Guerrero State, a prolific mining region in Mexico. It produces copper-zinc-lead concentrates with precious metals credits. It is currently undergoing an optimisation program which is already generating significant improvements in recoveries and grades, efficiencies, and cashflows.
The Tahuehueto Gold Mine is a new underground operation in Durango State, Mexico, within the Sierra Madre Mineral Belt which hosts numerous producing and historic mines along its trend. The Company is commissioning its mill capacity to +1,000 tonnes per day, and key testwork and throughput expansion is underway, to increase production by 2H 2024.
The Company expects its operations to start generating positive cash flows in 2024. Luca Mining is focused on growth with the aim of maximizing shareholder returns.
For more information, please visit: www.lucamining.com
On Behalf of the Board of Directors
(signed) "Mike Struthers"
Mike Struthers, CEO and Director
Cautionary Note Regarding Production Decisions and Forward-Looking Statements
It should be noted that Luca declared commercial production at Campo Morado prior to completing a feasibility study of mineral reserves demonstrating economic and technical viability. Accordingly, readers should be cautioned that Luca's production decision has been made without a comprehensive feasibility study of established reserves such that there is greater risk and uncertainty as to future economic results from the Campo Morado mine and a higher technical risk of failure than would be the case if a feasibility study were completed and relied upon to make a production decision. Luca has completed a preliminary economic assessment ("PEA") mining study on the Campo Morado mine that provides a conceptual life of mine plan and a preliminary economic analysis based on the previously identified mineral resources (see news releases dated November 8, 2017, and April 4, 2018).
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities laws. Forward Looking Information includes, but is not limited to, disclosure regarding the planned program to improve mining operations at Campo Morado; and other possible events, conditions or financial performance that are based on assumptions about future economic conditions and courses of action; the timing and costs of future activities on the Company's properties, such as production rates and increases; success of exploration, development and bulk sample processing activities, and timing for processing at its own mineral processing facility on the Tahuehueto project site. In certain cases, Forward-Looking Information can be identified using words and phrases such as "plans," "expects," "scheduled," "estimates," "forecasts," "intends," "anticipates" or variations of such words and phrases. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, that the current exploration, development, environmental and other objectives concerning the Campo Morado Mine and the Tahuehueto Project can be achieved; that the program to improve mining operations at Campo Morado will proceed as planned; the continuity of the price of gold and other metals, economic and political conditions, and operations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Luca Mining Corp.
For further information: about Luca Mining Corp., please contact: Sophia Shane, Director of Corporate Development, sshane@lucamining.com or Glen Sandwell, Corporate Communications Manager, ir @chas7
Sierra Madre Provides Update on La Guitarra Progress
https://www.accesswire.com/832040/sierra-madre-provides-update-on-la-guitarra-progress
Thursday, 08 February 2024 07:00
VANCOUVER, BC / ACCESSWIRE / February 8, 2024 / Sierra Madre Gold and Silver Ltd. (TSXV:SM)(OTCQX:SMDRF) ("Sierra Madre" or the "Company") is pleased to provide an in-depth update of its activities at the 100% owned past-producing La Guitarra Silver-Gold Mine Complex in Estado de Mexico, Mexico, 130 km southwest of Mexico City.
Mine Restart Study
The Company has retained TechSer Mining Consultants Ltd., of Vancouver, B.C., to complete the Mine Restart Study ("MRS"). This work will include an estimation of underground mine material for the Guitarra, Coloso and Nazareno mines and the Los Angeles bulk tonnage deposit. Additional evaluations will include an operating cost estimate covering the mine and recovery plant, based on reagent and consumable usage, energy, and diesel consumption, from the 2013 to 2018 operating period which will be updated for current pricing. Labour, staff and management costs will be based on the current wage structure and union labour contracts that have recently been signed. As part of the study, a capital cost estimate will be prepared to cover restart needs and will evaluate a potential throughput expansion within 24 months of commercial production. This data is to be supported by contractor bids and vendor prices. The above data will then be used in an economic evaluation to determine project viability. The MRS is expected to be completed in Q2 of this year.
Mine and Infrastructure
Work has been ongoing to determine necessary steps for the potential re-start of production. In accordance with recommendations made by officials with the Secretaria de la Defensa Nacional, SEDENA, improvements to the underground powder magazines have been completed.
On January 29, 2024, SEDENA approved Guitarra's 2024 explosives permit. This explosives permit must be renewed every year and was a milestone event for any potential resumption of operation. All other operating permits are current and in good standing.
Compressed 6-inch air lines have been installed from the stationary compressors near the main San Rafael portal to the La Cruz portal, a distance of over one kilometre with a 240 metre gain in elevation. Compressors and electrical substations have been serviced and are operational.
Minimizing initial development costs is one of the key factors being used to develop the near-term plan for advancement of the Project. As areas are identified and scheduled in the development plan, the existing haulage ways, access drives and ramps are being inspected for safety and rock stability, cleaned and readied.
Figure 1: Underground Powder Magazine
Processing Plant
All circuits in the processing plant are undergoing maintenance and rehabilitation work which would be required for the resumption of operations. In the grinding circuit, the three ball mills are being relined, all parts of the central drive shaft mechanisms overhauled, and the motors cleaned and tested. A fourth ball mill with limited capacity will not be rebuilt at this time.
Figure 2: La Guitarra Ball Mills
Overall, the crushing circuit was found to be in good shape with no costly equipment replacement or major repair items identified. Normal maintenance and overhaul work is ongoing. The fine ore storage bin has had the interior dividers and portions of the walls replated with heavy steel. Conveyor belts and associated motors have been serviced and wear and tear items have been replaced where needed.
The flotation circuit is in good shape. Some piping is being replaced and the pumps are being overhauled and serviced. The Wemco flotation cells are in very good shape, needing only some replating work, along with normal maintenance. No repair work requiring a significant outlay of capital has been identified. The Denver cell circuit will not be needed at this time.
The company's plant operations and maintenance team have advanced the preparation work for a potential plant restart within budget expectations.
The MRS will study an initial production level of 350 tonnes per day. Additional evaluation will be completed on potentially increasing the grinding circuit's capacity to greater than 500 tonnes per day. As part of the MRS, an assessment was made of the throughput capacity of each circuit in order to determine where bottlenecks might exist in potentially expanding processing throughput using the current plant equipment. Below is a flow diagram showing the overall arrangement of plant equipment and throughput capacity
Currently, the identified capacities and expansion choke points in the four circuits making up the processing plant are:
Crushing - 640 tonnes per day, second cone crusher needed for expanded capacity
Grinding - 516 tonnes per day, a new ball mill will be needed for additional throughput
Flotation - 620 tonnes per day plus an additional 580 tonnes per day, conditioner tank needs replumbing, flotation tanks have a total joint 1,200 tonnes per day capacity with some physical re-arrangement.
Concentrate Filtration and Drying - 620 tonnes per day, assuming the historical ore processed to concentrate produced mass reduction of 95%, filters are the limiting factor.
These capacities and the needed equipment to increase plant throughput will be used in the long-term economic analysis portion of the MRS.
Qualified Person
Mr. Gregory Smith, P. Geo, Director of Sierra Madre, is a Qualified Person as defined by NI 43-101, and has reviewed and approved the technical data and information contained in this news release. Mr. Smith has verified the technical and scientific data disclosed herein.
About Sierra Madre
Sierra Madre Gold & Silver (TSXV:SM),(OTCQX:SMDRF) is a precious metals development and exploration company, focused on evaluating the potential of restarting the La Guitarra Mine in the Temascaltepec mining district, Mexico, and the exploration and development of its Tepic and La Tigra properties in Nayarit, Mexico. The La Guitarra Mine is a permitted, past-producing underground mine which includes a 500 t/d processing facility that operated until mid-2018.
The +2,600 ha Tepic Project hosts low-sulphidation epithermal gold and silver mineralization with an existing historic resource.
Sierra Madre´s management has played key roles for managing exploration and development of more than 22Moz gold and 600Moz silver in combined reserves and resources. Sierra Madre´s team of professionals has collectively raised over $1B for mining companies.
On behalf of the board of directors of Sierra Madre Gold and Silver Ltd.,
"Alexander Langer"
Alexander Langer
President, Chief Executive Officer and Director
1-604-765-1604
Contact:
investor@sierramadregoldandsilver.com
Cautionary Note
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements with respect to the completion of the Transaction on the terms set out in the definitive agreement (or at all) and the ability of the Company to obtain requisite corporate and regulatory approvals for the Transaction, including but not limited to the approval of the Exchange, Mexican antitrust approval and other governmental approvals as currently anticipated.
In making the forward-looking statements included in this news release, the Company has applied several material assumptions, including that the Company will be able to receive all required regulatory approvals by the timelines currently anticipated (or at all); and that the Company will be able to complete the Transaction on the terms of the definitive agreement. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company´s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk that the Company is not able to complete Transaction on the terms set out in the definitive agreement (or at all) and the risk that the Company is unable to obtain requisite corporate and regulatory approvals, including but not limited to the approval of the TSX Venture Exchange, the Mexican antitrust approval and governmental approval as currently anticipated.
Such forward-looking information represents management´s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
SOURCE: Sierra Madre Gold and Silver
Heliostar Evaluating Test Mining Scenario for Ana Paula in 2024
https://www.newsfilecorp.com/release/197241
February 08, 2024 6:30 AM EST | Source: Heliostar Metals Ltd
Highlights:
Heliostar undertakes review of financing options to complete the existing decline and test mining of a bulk gold sample in advance of a Feasibility Study
Multiple scenarios show the potential to recover >20,000 ounces of gold from stopes averaging 7-10 g/t gold
Demonstrates a potential pathway to production from test mining within 12 months
The Company is assesing non-equity funding options for this program
Heliostar has initiated a Preliminary Economic Assessment ("PEA") planned for completion in H2, 2024
Continued resource growth drilling, PEA, and underground permit modifcation submission to be completed in 2024
Vancouver, British Columbia--(Newsfile Corp. - February 8, 2024) - Heliostar Metals Ltd. (TSXV: HSTR) (OTCQX: HSTXF) (FSE: RGG1) ("Heliostar" or the "Company") is pleased to provide an update on the potential to advance the underground decline and complete test mining to process a bulk sample from the Ana Paula deposit in Guerrero, Mexico.
Heliostar CEO, Charles Funk, commented, "Since acquiring Ana Paula 10 months ago, Heliostar's team has moved quickly to redefine Ana Paula as a high-grade underground gold project. We have successfully increased the resource, identified a >10 g/t gold zone for possible commencement of mining, identified additional resource growth areas, demonstrated significant improvement to gold recoveries, and bolstered the Company's management team. The Company intends to maintain the current high pace of progress in 2024 by studying the benefits of completing the existing underground decline to test mine a bulk sample. In our view, this will be a large step towards de-risking the underground plan for Ana Paula. In addition, it will provide greater confidence in the deposit's gold recoveries, lower the cost of infill drilling and provide a platform for deeper resource growth drilling. The gold contained in the bulk sample can potentially fund the decline development. Heliostar also intends to complete a PEA in the second half of 2024, submit the underground mining permit modifications and continue resource drilling to further grow the Ana Paula resource."
Bulk Sample Options
Ana Paula has a 412-metre-long decline currently completed to one third of its target length by a previous operator. Heliostar is undertaking an internal review on the potential to extend this decline to the base of the High Grade Panel to test mine a bulk sample of the deposit.
The engineering study indicates that the bulk sample will require an additional 1,100m of tunnel development and 317 metres of spiral and stope development. The decline design option has been designed as the best option for future mine production from the current resource.
The design indicates that a production rate of four metres per day would complete tunnel development and stope development within eleven months from commencement. Completing the development would allow for test production within 12 months of commencement of the start of construction.
Gold grades within potential stope targets vary from 7-10 g/t gold. Multiple scenarios indicate potential to recover more than 20,000 ounces of gold from a bulk sample.
Advancement of the decline and mining of a bulk sample can be completed with the current permits held by the Company.
Heliostar is advancing a detailed engineering, mining, and metallurgy review of the potential bulk sample. The Company has held discussions with potential offtake partners and currently has samples from the Ana Paula deposit being assessed for metallurgy, recovery and payability information by potential offtake partners. Preliminary financial modelling suggests the recovered gold value exceeds development costs. The Company is exploring self-funding, non-equity options to finance the decline development, test mining processes, and bulk sample collection.
Heliostar expects this review to be completed before March 30th, 2024, and will provide an update upon completion of this analysis.
Figure 1: Plan and Section map of a decline and stope design option for test mining at Ana Paula.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/197241_7139878d84927954_003full.jpg
Preliminary Economic Assessment and 2024 work program
Heliostar filed a technical report for the updated mineral resource estimate on January 11th, 2024 (see news release on January 12th, 2024). Following this report the company intends to complete a Preliminary Economic Assessment based on this resource in 2024. The company is finalizing the scope of this program and expects to deliver the report in the second half of 2024.
In addition to the PEA, the current resource indicates significant areas for resource expansion and the company has designed a 10,000-15,000-metre drill program to expand the current resource. The drill program's goals include resource growth, infill drilling (to convert gold ounces to higher confidence categories) and new exploration drilling. The potential for constructing the decline will have a significant impact on program design. The Company expects to provide additional details on the 2024 drill program in conjunction with the test mining and bulk sample review. Upon completion of the 2024 drill program, the company intends to provide a resource update that will support a Feasibility Study that is expected to be delivered in 2025.
Upon completion of the PEA the Company intends to use the engineering designs to submit a modification to the open pit mining permit that the company currently holds. The modification to underground only mining is expected to have a significantly smaller physical and environmental footprint than the currently approved permit. Permit modifications are expected to be received prior to completion of the Feasibility Study.
Statement of Qualified Person
Samuel D. Anderson, CPG., Vice President of Projects, of Heliostar Metals Limited, a Qualified Person, as such term is defined by NI 43-101, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Samuel Anderson relied on resource information contained within the "Ana Paula Project NI 43-101 Technical Report Mineral Resource Estimate Update", filed on SEDAR on January 11, 2024 and prepared by by Lewis Teal and Rita Teal of Teal CPG Inc. Ms. Teal and Mr. Teal are each independent Qualified Persons as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Heliostar Metals Ltd.
Heliostar is a junior mining company with a portfolio of high-grade gold projects in Mexico and Alaska.
The Company is developing the 100% owned Ana Paula Project in Guerrero, Mexico. In addition, Heliostar in conjunction with the Mexican federal and local government, is working to permit the San Antonio Gold Project in Baja Sur, Mexico. The Company continues to explore the Unga Gold Project in Alaska, United States of America.
Ana Paula hosts measured and indicated resources of 710,920 ounces of gold (320,204 measured and 390,716 indicated ounces) at 6.60 g/t gold and an inferred resource of 447,512 ounces of gold at 4.24 g/t gold. The asset is permitted for open-pit mining and contains significant existing infrastructure including a portal and a 412-metre-long decline.
For additional information, please contact:
Charles Funk
Chief Executive Officer
Heliostar Metals Limited
Email: charles.funk@heliostarmetals.com
Rob Grey
Investor Relations Manager
Heliostar Metals Limited
Email: rob.grey@heliostarmetals.com
Caution Regarding Forward-Looking Information and Statements
This press release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is often identified by the words "may," "would," "could," "should," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect" or similar expressions. Readers are cautioned that forward-looking information is not based on historical facts but instead reflects the Company's management's expectations, estimates or projections concerning the business of the Company's future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information in this press release includes statements regarding exploration plans, the use of proceeds, and other future plans and objectives, and statements pertaining to receipt of TSX Venture Exchange approval. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: changes in general economic, business and political conditions, including changes in the financial markets; decreases in the prevailing prices for products in the markets that the Company operates in; adverse changes in applicable laws or adverse changes in the application or enforcement of current laws; regulations and enforcement priorities of governmental authorities; compliance with government regulation and related costs; and other risks described in the Prospectus. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Heliostar Metals Ltd.
Xali Gold Confirms SDA Plant in Mexico is Operational and Commences Bulk Sample Testing
https://ca.finance.yahoo.com/news/xali-gold-confirms-sda-plant-120000534.html
Xali Gold Corp.
February 1, 2024·3 min read
CGDXF
0.00%
VANCOUVER, British Columbia, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Xali Gold Corp. (TSXV:XGC) ("Xali Gold” or the “Company”) is pleased to advise that Mexican company, Grupo Minero WIYA (“WIYA”) has made the required repairs to get the San Dieguito de Arriba (“SDA”) Plant in Nayarit, Western Mexico operational and are conducting bulk sample testing at the SDA Plant.
“We are excited to have the SDA Plant up and running again,” says Joanne Freeze, President and CEO of Xali Gold. “WIYA has quickly managed to start the bulk sample program and while they iron out usual commissioning “bugs” and are processing bulk samples from their own mine, we are now in discussions with WIYA to form a Joint Venture and evaluate other opportunities for higher value materials (especially with more gold) from other mines in the area. Longer term, once we have steady cash flow, we will also evaluate more exploration opportunities at the same mines as well as in other parts of Mexico, Latin and South America.”
More details about the SDA Plant, including photos from the ribbon cutting ceremony, can be found on the Company website at: Xali Gold Corp. | Photos
As per the Xali Gold News Release dated December 18, 2023, the Company signed an Agreement with WIYA whereby WIYA agrees to pay US$150,000 per month for 10 months and upon completion of paying a total of US$1.5 Million, WIYA would have the right to own the SDA Plant, however discussions are now ongoing to change these terms into a Joint Venture and operate the plant together for shared profits. Currently, Magellan Acquisition Corp. (“Magellan”), and the Company each own 50% of the SDA plant.
About Xali Gold
Xali Gold has gold and silver projects in Peru and Mexico. El Oro is a district scale gold project encompassing a well-known prolific high-grade gold dominant gold-silver epithermal vein system in Mexico. The project covers 20 veins with past production and more than 57 veins in total, from which approximately 6.4 million ounces of gold and 74 million ounces of silver were reported to have been produced from just two of these veins (Ref. Mexico Geological Service Bulletin Nr. 37, Mining of the El Oro and Tlapujahua Districts. 1920, T. Flores).
Modern understanding of epithermal vein systems indicates that several of the El Oro district’s veins hold excellent discovery potential, particularly below and adjacent to the historic workings of the San Rafael Vein, which was mined to an average depth of only 200m.
Xali Gold is dedicated to being a responsible Community partner.
Joanne C. Freeze, P.Geo., President and CEO and Matthew Melnyk, CPG., Director Operations, are Qualified Persons as defined by National Instrument 43-101 for the projects discussed above. Ms. Freeze and Mr. Melnyk have reviewed and approved the contents of this release.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Information
This news release may contain forward-looking information (as such term is defined under Canadian securities laws) including but not limited to historical production records. While such forward-looking information is expressed by Xali Gold in good faith and believed by Xali Gold to have a reasonable basis, they may address future events and conditions and are therefore subject to inherent risks and uncertainties including those set out in Xali Gold’s MD&A. Factors that cause the actual results to differ materially from those in forward-looking information include, without limitation, gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, potential environmental issues, availability of capital and financing and general economic, market or business conditions. Xali Gold expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
On behalf of the Board of Xali Gold Corp.
“Joanne Freeze” P.Geo.
President, CEO and Director
For further information please contact:
Joanne Freeze, President & CEO
Tel: + 1 (604) 689-1957
info@xaligold.com
Torex Gold Provides Q4 2023 Update on Media Luna Project
Available funding now exceeds remaining capex, with 84% of upfront expenditures committed
https://www.newsfilecorp.com/release/197155
February 07, 2024 6:00 PM EST | Source: Torex Gold Resources Inc. (All amounts expressed in U.S. dollars unless otherwise stated)
Toronto, Ontario--(Newsfile Corp. - February 7, 2024) - Torex Gold Resources Inc. (the "Company" or "Torex") (TSX: TXG)
Silver Dollar Acquires 100% of Nora Silver-Gold Property and Provides Project Update
The Company is fully funded to continue target development on the property.
https://www.newsfilecorp.com/release/197171
February 08, 2024 4:54 PM EST | Source: Silver Dollar Resources Inc.
Vancouver, British Columbia--(Newsfile Corp. - February 8, 2024) - Silver Dollar Resources Inc. (CSE: SLV) (OTCQX: SLVDF) (FSE: 4YW) ("Silver Dollar" or the "Company") announces that it has acquired a 100% interest in Canasil Resources Inc.'s ("Canasil") Nora property located in Durango State, Mexico pursuant to the terms of the Nora option agreement (the "Nora Option Agreement"), previously announced on April 20, 2023.
Figure 1: Location of Nora property and other mines and deposits in the region.
To view an enhanced version of this graphic, please visit:
https://silverdollarresources.com/images/Nora/MX-Map-Nora-LR.jpg
The Nora property is situated in the Eastern Sierra Madre sub-province, in the transition to the high plateau of Mexico, the property lies centrally within the "Silver Trend" that runs from the northwest to the southeast through Durango State. Significant deposits in the region include Endeavour Silver's Guanaceví mine and Fresnillo's San Julián mine on-trend to the northwest, with Endeavour Silver's Pitarrilla Projectapproximately 50 kilometres (km) to the east. Pitarrilla is one of the largest undeveloped silver deposits in the world and was discovered by Perry Durning and Frank (Bud) Hillemeyer, who serve as Silver Dollar's technical advisors.
In connection with the acquisition of the Nora property, Canasil waived certain obligations of Silver Dollar under the Nora Option Agreement on the basis that Silver Dollar encountered certain unresolved discrepancies in verifying the 2020 and 2021 drill results Canasil reported on the Nora property.
While analyzing and relogging drill core as part of its drill target development, Silver Dollar re-assayed select core intervals from Canasil's previous drilling. A total of 161 core samples, plus 16 standards and blanks, were submitted to ActLabs in Zacatecas. This included 157 duplicates of the original core samples from drill holes NRC-20-01, NRC-20-04, NRC-20-06, NRC-21-09, NRC-21-10, NRC-21-11, and NRC-21-12. The ActLabs check assay values received for lead, zinc and copper closely mirror the original assay values Canasil received from ALS Global in Vancouver; however, the gold and silver values are significantly lower as follows:
For gold: of the 157 samples duplicated, Canasil reported 42 samples >1 g/t Au (1.23 - 43.7 g/t) including 18 samples >5 g/t (5.3 - 43.7 g/t), whereas Silver Dollar's re-assaying yielded only three samples >1 g/t Au (1.04, 1.75, and 2.30 g/t).
For silver: of the 157 samples duplicated, Canasil reported 44 samples >200 g/t Ag (133 -1,924 g/t) including 19 samples >500 g/t Ag (504 - 1,925 g/t), whereas Silver Dollar's re-assaying yielded only three samples >100 g/t Ag (129, 158, and 448 g/t).
The QPs from both companies discussed the situation and recommended a further analytical program be carried out to provide some insight into what may have caused the assay discrepancies. However, Canasil did not have the financial resources to contribute to the recommended program and alternatively offered to waive certain of Silver Dollar’s consideration obligations under the Nora Option Agreement and transfer 100% ownership of the Nora property to Silver Dollar for the consideration that has been provided to date (as detailed below), subject to a 2% net smelter returns royalty (the “Royalty”) with Silver Dollar having the right to buy back 1% of the Royalty for $1,000,000. As of the date hereof, Silver Dollar has incurred a total of approximately $134,779 in exploration expenditures on the Nora property, as full consideration for the acquisition thereof. Silver Dollar is not required to provide any further consideration to Canasil to complete the acquisition and the transfer of the Nora concessions to Silver Dollar has been initiated.
The Company previously reported selected highlights from Canasil's 2020 and 2021 drilling programs on the Nora property, which included the discrepancies noted above, in its news releases of May 24, 2023, June 20, 2023, and August 1, 2023, on its website, in its material change report dated April 20, 2023, and its Management's Discussion and Analysis of May 31, 2023. In addition to containing discrepancies, the Company has determined that the disclosure did not conform to National Instrument 43-101 standards and should not be relied upon. Accordingly, the Company retracts the non-compliant prior disclosure of results from Canasil's 2020 and 2021 drilling programs in respect of the Nora property from its disclosure record.
"Although the assay discrepancies from the Candy vein drill core are puzzling, the Nora property has other priority exploration targets that we intend to follow up on while we take a closer look at the Candy vein structure," said Michael Romanik, president of Silver Dollar.
Mike Kilbourne, P.Geo., an independent Qualified Person (QP) as defined in NI 43-101, has reviewed and approved the technical contents of this news release on behalf of the Company. The QP and the Company have not completed sufficient work to verify the information on the Nora property, particularly regarding historical exploration, neighbouring companies, and government geological work.
About Silver Dollar Resources Inc.
Silver Dollar is a mineral exploration company that is fully funded to execute its near-term exploration plans having closed its last financing with lead orders from billionaire mining investor Eric Sprott and NYSE-listed First Majestic Silver. The Company's primary projects lie within Mexico's prolific Durango-Zacatecas silver-gold belt and include the flagship La Joya silver (Cu-Au) property and the Nora silver-gold property. Management has an aggressive growth strategy and is actively reviewing potential acquisitions with a focus on drill-ready projects in mining-friendly jurisdictions.
For additional information, you can download our latest presentation by clicking here and you can follow us on Twitter by clicking here.
ON BEHALF OF THE BOARD
Signed "Michael Romanik"
Michael Romanik,
President, CEO & Director
Silver Dollar Resources Inc.
Direct line: (204) 724-0613
Email: mike@silverdollarresources.com
179 - 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9
Forward-Looking Statements:
This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively, "forward-looking statements"). The forward-looking statements herein are made as of the date of this news release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. These forward-looking statements include the fact that the Company intends to continue fieldwork on the Nora property and follow up on other priority exploration targets on the Nora property; and that the Company intends to take a closer look at the Candy vein structure. Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that the Company's cost and timing expectations are accurate; that Canasil will be able to successfully transfer the claims comprising the Nora property to Silver Dollar; that the Company will be successful in the deployment of its resources and personnel; that the Company will be able to obtain and maintain all permits, licenses and approvals required to complete its planned exploration activities; that management has accurately predicted how the regulatory environment will impact its business and the transfer of the claims comprising the Nora property; and that the Company will have access to sufficient funds to finance its business activities and plans. Additionally, forward-looking statements involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that Canasil may fail to successfully transfer the claims comprising the Nora property to Silver Dollar; that the Nora property is ceased in connection with bankruptcy or insolvency proceedings; that the Nora property becomes the subject of litigation, bankruptcy or insolvency proceedings, or other regulatory or civil proceedings; the Company's operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; political instability; unexpected exploration challenges; unanticipated costs; the Company could fail to obtain the permits, licenses or approvals required to conduct its planned exploration activities; and the loss of key personnel. The forward-looking statements contained in this news release represent management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this news release.
SOURCE: Silver Dollar Resources Inc.
GoGold Releases Q1 2024 Financial Results
https://www.newswire.ca/news-releases/gogold-releases-q1-2024-financial-results-805330044.html
GoGold Resources Inc. Feb 07, 2024, 08:30 ET
Shares Outstanding: 328,222,500
Trading Symbols: TSX: GGD
TCQX: GLGDF
Orla Mining Concludes 2023 Camino Rojo Sulphides Infill Program with Strong Results
https://www.newswire.ca/news-releases/orla-mining-concludes-2023-camino-rojo-sulphides-infill-program-with-strong-results-890427464.html
Orla Mining Ltd. Feb 07, 2024, 06:00 ET
138.6m @ 3.21 g/t Au incl. 8.7m @ 9.15 g/t
43.0m @ 4.12 g/t Au, incl. 11.5m @ 10.0 g/t, (and incl. 2.0m @ 32.2 g/t)
20.5m @ 5.30 g/t Au, incl. 14.5m @ 7.19 g/t Au, (and incl. 1.4m @ 37.0 g/t Au)
53.3m @ 3.65 g/t Au, incl. 1.3m @ 19.4 g/t Au & 1.4m @ 30.8 g/t Au
VANCOUVER, BC, Feb. 7, 2024 /CNW/ - Orla Mining Ltd. (TSX: OLA) (NYSE: ORLA)
Fabled Silver Gold Reports Termination of Letter of Intent for Acquisition of Mecatona Property and Transfer to the NEX
https://thenewswire.com/press-releases/1BKRFj681-fabled-silver-gold-corp-reports-termination-of-letter-of-intent-for-acquisition-of-mecatona-property-and-transfer-to-the-nex.html
Vancouver, British Columbia – TheNewswire - February 7, 2024 – Fabled Silver Gold Corp. (“Fabled” or the “Company”) (TSXV:FCO); (OTC:FBSGF), and (FSE:7NQ) wishes to announce that it has mutually terminated its letter of intent with Kootenay Silver Inc. (TSXV: KTN) (“Kootenay”) with respect to the proposed acquisition the Mecatona Property, as first announced in its press release dated February 21, 2023.
Following a review process by the Company’s board of directors, and consultation with Kootenay and the TSX Venture Exchange (the “Exchange”), the Company has determined that is unable to obtain suitable financing to meet the requirements of the Exchange with respect to the acquisition.
The Company would like to thank Kootenay for its cooperation during this time.
Fabled also announces that it has terminated its previously announced private placement, as described in its news release dated May 18, 2023.
No subscriptions were closed pursuant to the private placement and therefore no cash sums were raised or securities issued.
Transfer to the NEX
Fabled further announces that it has applied to and received the acceptance of the Exchange to be transferred to the NEX board of the Exchange and resume trading thereon effective February 12, 2024 (the “Effective Date”). The transfer to the NEX is as a result of the Company’s inability to meet continued listing requirements for a TSX Venture Exchange Tier 2 issuer in accordance with Exchange Policy 2.5.
The Company’s trading symbol will change from FCO to FCO.H on the Effective Date as a result of the transfer. There is no change in the Company’s name or CUSIP number.
The Company intends to begin reviewing opportunities that will qualify the Company to return to trading on the TSX Venture Exchange in future.
About Fabled Silver Gold Corp.
Fabled Silver Gold Corp. is a publicly traded company which formerly operated as a mining exploration company but is currently focused on identifying new opportunities.
Contact Information:
Mr. Peter J. Hawley, President and C.E.O.
Fabled Silver Gold Corp.
Phone: (819) 316-0919
peter@fabledfco.com
Neither the TSX Venture Exchange nor its Regulations Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains any required regulatory approvals. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Forward-looking information in this document includes statements concerning the Company’s intention to complete the Proposed Acquisition and all other statements that are not statements of historical fact.
Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; industry conditions, including fluctuations in commodity prices; governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in mining operations; changes in tax laws and incentive programs relating to the mining industry; as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedarplus.ca. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
Prismo Metals To Resume Drilling at Palos Verdes Prismo
Samples 930 g/t Silver and 10.55 g/t gold at Palos Verdes (2,605 g/t AgEq*)
https://www.newsfilecorp.com/release/196931
February 06, 2024 8:00 AM EST | Source: Prismo Metals Inc.
Vancouver, British Columbia--(Newsfile Corp. - February 6, 2024) - Prismo Metals Inc. (CSE: PRIZ) (OTCQB: PMOMF)
Prime Intersects 3.74 gpt AuEq Over 5.7m at Z-T in New High-Grade Mineralized Zone 350m Beyond Current Resource Pit While Extending High-Grade Shoots at Depth
https://ca.finance.yahoo.com/news/prime-intersects-3-74-gpt-110000031.html
Prime Mining Corp.
Tue, February 6, 2024 at 3:00 a.m. PST
Avino Reports Oxide Tailings Project Prefeasibility Study With After-Tax NPV of US$61 Million and 26% IRR
https://www.accesswire.com/830619/avino-reports-oxide-tailings-project-prefeasibility-study-with-after-tax-npv-of-us61-million-and-26-irr
Monday, 05 February 2024 06:45
VANCOUVER, BC / ACCESSWIRE / February 5, 2024 / Avino Silver & Gold Mines Ltd. (TSX:ASM)(NYSE American:ASM)(FSE:GV6)
CMC Metals Provides an Update on its Gavilanes Silver-Gold-Polymetallic Project in the San Dimas Area, Durango, Mexico
https://www.accesswire.com/828982/cmc-metals-ltd-provides-an-update-on-its-gavilanes-silver-gold-polymetallic-project-in-the-san-dimas-area-durango-mexico
Monday, 29 January 2024 11:30
VANCOUVER, BC / ACCESSWIRE / January 29, 2024 / CMC Metals Ltd. (TSX-V:CMB)(Frankfurt:ZM5P)(OTCQB:CMCXF) ("CMC" or the "Company") is pleased to provide an update on its Gavilanes silver-gold-polymetallic project.
The management team including Kevin Brewer, President and CEO, Jose Manuel Delgado Canedo, Director, CFO and Legal Advisor-Mexico, and Cesar Symonds, Project Geologist attended the annual assembly of the Ejido de los Gavilanes yesterday. The Company outlined its exploration plans for Gavilanes for 2024. The Ejido de los Gavilanes expressed support for the project and has agreed to enter into a Letter of Intent with CMC to advance an exploration agreement for the project. This is an important milestone for the project as the ejido control the surface rights and are also highly influential in the process related to the assignment of exploration permits in Mexico. An extension of the current permit has recently also been filed with the Mexican permitting authority SEMARNAT.
The Company has also made considerable progress on financing the project. It recently attended and presented the Metals Investor Forum and the Vancouver Resource Investment Conference in late January in Vancouver where it met with numerous potential investors and groups that have expressed interest in supporting the project. The Company has entered into discussions with a consortium that are considering a strategic partnership in the project.
The Company is actively working towards financing Phase 1 of the project. This will include securing funding for drilling and exploration activities at Gavilanes, the initial property payment to Sailfish Royalty Corp., and concession taxes. The Company intends to use its proceeds from the sale of the Bishop gold mill and financing the remaining requirements through either the formation of a strategic partnership for the project or implementing a financing effort. In this regard, the Company will be confirming its intentions in the near future.
The Company is also finalizing the exploration plan for the project which proposes to complete up to 4,500 meters in the Gavilanes Zone in 2024.
Kevin Brewer, President and CEO noted "Our meetings in Vancouver went better than we had expected. We had a very high level of interest in this project and we are now very confident that we will be able to proceed with our plans for 2024. We expect to be able to soon release the exploration strategy that is focused on resource expansion. The Company will not be instituting a share rollback to finance Phase 1-2024 of the Gavilanes Project. A recent independent valuation by Fundamental Research Corp., at $0.17 per common share, indicates that we are significantly undervalued. As we continue to make this project a reality we are confident our value will be reflected in improved valuation for our shareholders."
The silver-gold polymetallic Gavilanes Project (13,594.5 hectares) has a current NI 43-101 Inferred Resource of 18,174,000 contained silver-equivalent ("Ag-Eq") ounces at an average grade of 320.3 g/t Ag-Eq within 1,765,000 tonnes (Mine Development Associates/Respec Resource Gesociences Inc., 2021). The metal prices assumed in the resource estimate were $19.00 USD/oz silver, $1,600 USD/oz gold, $3.50 USD/lb copper, and $1.00 USD/lb for lead and zinc.
Qualified Person
Qualified Person Kevin Brewer, a registered professional geoscientist, is the Company's President and CEO, and Qualified Person (as defined by National Instrument 43-101). He has given his approval of the technical information pertaining reported herein. The Company is committed to meeting the highest standards of integrity, transparency and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying and all other technical data.
About CMC Metals Ltd.
CMC Metals Ltd. is a growth stage exploration company focused on opportunities for high grade polymetallic deposits in Mexico, Yukon, British Columbia and Newfoundland. Our new flagship project is the Gavilanes Silver-Gold Project, San Dimas, Durango, Mexico. Our polymetallic silver-lead-zinc CRD prospects in the Rancheria Silver District include the Silverknife and Amy projects (British Columbia) and the Silver Hart Deposit and Blue Heaven claims (Yukon). Our polymetallic projects with potential for copper-silver-gold and other metals include Bridal Veil (Newfoundland) and Logjam (Yukon).
On behalf of the Board:
"John Bossio"
John Bossio, Chairman, Board of Directors, CMC METALS LTD.
For Further Information and Investor Inquiries:
Kevin Brewer, P. Geo., MBA, B.Sc.(Hons), Dip. Mine Eng.
President, CEO and Director
Tel: (+52) 669 198 8503
kbrewer80@hotmail.com
Suite 1000-409 Granville St., Vancouver, BC, V6C 1T2
To be added to CMC's news distribution list, please send an email to info@cmcmetals.ca or contact Mr. Kevin Brewer directly.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
"This news release may contain certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. In this release disclosure regarding the potential to undertake future exploration work comprise forward looking statements. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects, to carry out the work and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, the impact of the constantly evolving COVID-19 pandemic crisis and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company's filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation."
SOURCE: CMC Metals Ltd.
Kingsmen Resources: Las Coloradas Project - Old Mine Workings Traced
https://www.newsfilecorp.com/release/196479
February 01, 2024 8:00 AM EST | Source: Kingsmen Resources Ltd
Vancouver, British Columbia--(Newsfile Corp. - February 1, 2024) - Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF)("Kingsmen" or the "Company") is pleased to update progress on the Las Coloradas project, located 30km from Hildago de Parral, Chihuahua, Mexico. Portions of the Soledad structure were mined by ASARCO (American Smelting and Refining Company), the U.S. based subsidiary of Grupo Mexico in the period 1944 to 1952.
Kingsmen has identified the extent of the old ASARCO workings (1943 to 1952) on the 1.7 km long Solidad vein system (Figure 1). The workings are located on the southern end of the Solidad vein system and were confined to the area shown on Figure 1. The workings extend in excess of 250 meters along strike and to a vertical depth of approximately 125 meters on four levels. The workings did not extend below the water table. All production was shipped to ASARCO's mining facilities at Parral where ASARCO was operating the La Prieta, Veta Colorada, Palmilla and Santa Bárbara mines. Average mining diluted grades are reported to have been in the order of 0.6 to 0.8 g/t gold, 300 to 518 g/t silver, 6.2 to 10.9 % lead and 6.5 to 10.3 % zinc, from four different veins, called La Soledad, Santo Niño, Eva and Rosario.
Kingsmen's sampling of residual mineralization in the old workings (where accessible) confirmed the presence of high-grade silver which likely continues at depth below the water table (Figure 1). In addition, significant silver mineralization exists along the 1.7 km Soledad vein system, and along the approximately 1.0 km Soledad II vein system as indicated by Kingsmen's sampling.
Scott Emerson, President, commented: "All of the work we have conducted and are continuing to do at Las Coloradas, whether new sampling, mapping and analysis of the historic workings, all indicate that the extent of mineralization is far greater than the footprint of the historical resource."
Figure 1
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9640/196479_8d2c09ea249f7b3c_002full.jpg
About Las Coloradas
The Las Coloradas Project (8.5 km2 -3.3 sq miles) represents a consolidation of a historic mining district which covers numerous silver-gold-lead-zinc-copper mines previously exploited by ASARCO.
Las Coloradas is in the Parral mining district of the Central Mexican Silver Belt and is located approximately 30 kilometers southeast of the city of Hildago de Parral and 40 kilometers east of the San Francisco de Oro and Santa Barbera mining districts where several old major mines are located, such as La Prieta, Veta Colorada, Palmilla, Esmeralda, San Francisco del Oro and Santa Barbara. As well, new major mining projects are currently being explored in the district; Cordero (Discovery Silver Corp.), 35 kms north of Parral, and La Cigarra (Kootenay Silver Inc.), 35 kms northwest of Parral. Click here to see locator map, https://www.kingsmenresources.com/area-history.
Qualified Person
Kieran Downes, Ph.D., P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure set out in this news release.
About Kingsmen Resources
In line with Kingsmen's organic-growth strategy, the Company's focus is on exploration and development, and is currently focused on district-scale exploration for high-margin metallic mineral deposits in the prolific mining districts of Parral Mexico. In addition, the Company has a 1% NSR on the Los Ricos North project in Mexico operated by GoGold Resources Inc. The Company's leaders have extensive experience in the mining and financial sectors. Kingsmen is a publicly-traded company (TSXV: KNG) (OTCQB: KNGRF) headquartered in Vancouver, British Columbia.
On behalf of the Board,
"Scott Emerson"
Scott Emerson,
President & CEO
Phone: 604-685-9316
Email: se@kingsmenresources.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement:
All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-Looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding the completion of the acquisition of the Las Coloradas Project and receipt of regulatory approval, are forward-looking statements. Although Kingsmen believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Kingsmen can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in Kingsmen's periodic filings with Canadian securities regulators, and assumptions made with regard to: Kingsmen's ability to make the required payments under the definitive agreements; and Kingsmen's ability to secure the necessary regulatory approvals. Forward-Looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Kingsmen's expectations include risks associated with the business of Kingsmen; risks related to the satisfaction or waiver of certain conditions to the closing of the acquisition of the Las Coloradas Project; non-completion of the acquisition of the Las Coloradas Project; risks related to exploration and potential development of the Las Coloradas Project; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in Kingsmen's filings with Canadian securities regulators on SEDAR in Canada (available at www.sedarplus.ca). Forward-Looking statements are based on estimates and opinions of management at the date the statements are made. Kingsmen does not undertake any obligation to update forward looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
SOURCE: Kingsmen Resources Ltd
Aztec Continues to Expand the Cervantes Project California Zone with Additional Intersections of Broad and Shallow Oxide Gold Mineralization
https://www.accesswire.com/829184/aztec-continues-to-expand-the-cervantes-project-california-zone-with-additional-intersections-of-broad-and-shallow-oxide-gold-mineralization
Tuesday, 30 January 2024 07:00
The remaining 10 Reverse Circulation (RC) drill holes from the California Zone all intersected broad oxidized near surface gold mineralization.
All 13 step out drill holes of the recently completed program expanded the California zone gold mineralization in multiple directions.
Step out drilling has grown the area of demonstrated Au mineralization of the California zone to 1,000m East-West.
The 2023 exploration program was successful in discovering extensions, particularly to the West and Northwest, and confirms the broad style of the gold mineralized zone.
VANCOUVER, BC / ACCESSWIRE / January 30, 2024 / Aztec Minerals Corp. (TSXV:AZT)(OTCQB:AZZTF)
Silver Storm Drills 1,000 g/t Ag.Eq Over 5.25 m Identifies 370 m of Vertical Continuity in San Nicolas Zone
https://www.newsfilecorp.com/release/195889
January 29, 2024 7:15 AM EST | Source: Silver Storm Mining Ltd.
Toronto, Ontario--(Newsfile Corp. - January 29, 2024) - Silver Storm Mining Ltd. (TSXV: SVRS) (OTCQB: SVRSF) (FSE: SVR)
reading, lot of action here
reading, lot of action here
Guanajuato Silver Commences Processing 3rd Party Gold and Silver at El Cubo
https://www.accesswire.com/825673/guanajuato-silver-commences-processing-3rd-party-gold-and-silver-at-el-cubo
Wednesday, 17 January 2024 06:33
VANCOUVER, BC / ACCESSWIRE / January 17, 2024 / Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR)(OTCQX:GSVRF) is pleased to announce commencement of a relationship with a Mexican silver mining company to process a portion of its surface inventory of mineralized material at Guanajuato Silver's wholly owned El Cubo mines complex located in Guanajuato, Mexico.
Guanajuato Silver's Chairman & CEO, James Anderson said, "We are excited to have reached this agreement which will utilize a considerable amount of the excess capacity that exists at our El Cubo mill. We believe both parties will mutually benefit from this agreement, as we collectively look to expand silver production in the Guanajuato area through the processing of low-cost and readily available material. With additional unutilized capacity still available at El Cubo, we continue to pursue similar business agreements with other mining groups in the area."
This material has been demonstrated compatible with the El Cubo processing circuit through comprehensive metallurgical testing; the first silver and gold concentrates from this processing agreement are expected to be generated prior to the end of January 2024.
About Guanajuato Silver
GSilver is a precious metals producer engaged in reactivating past producing silver and gold mines in central Mexico. The Company produces silver and gold concentrates from the El Cubo Mine Complex, Valenciana Mines Complex, and the San Ignacio mine; all three mines are located within the state of Guanajuato, which has an established 480-year mining history. In addition, the Company produces silver, gold, lead, and zinc concentrates from the Topia mine in northwestern Durango. With four operating mines and three processing facilities, Guanajuato Silver is one of the fastest growing silver producers in Mexico.
Technical Information
Hernan Dorado Smith (Qualified Professional - MMSA), a director and officer of GSilver and a "qualified person" as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, has approved the scientific and technical information contained in this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
"James Anderson"
Chairman and CEO
For further information regarding Guanajuato Silver Company Ltd., please contact:
JJ Jennex, Gerente de Comunicaciones, T: 604 723 1433
E: jjj@GSilver.com
Gsilver.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain forward-looking statements and information, which relate to future events or future performance including, but not limited to, the benefit from the agreement announced in this press release, expansion of silver production in the Guanajuato area through the processing of low-cost and readily available material, unutilized capacity still available at El Cubo, the pursuit of similar business agreements with other mining groups in the area, the amount of tonnes of additional material to be processed at the El Cubo mill on a monthly basis, the expected timeline to generate the first silver and gold concentrates from this processing agreement, and the Company's status as one of the fastest growing silver producers in Mexico.
Such forward-looking statements and information reflect management's current beliefs and expectations and are based on information currently available to and assumptions made by the Company; which assumptions, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: our estimates of mineral resources and other mineralized material at El Cubo and the Company's other mining projects in Guanajuato, Mexico and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock conforming to sampled results and metallurgical performance; available tonnage of mineralized material to be mined and processed; resource grades and recoveries; assumptions and discount rates being appropriately applied to the 2023 Preliminary Economic Assessment on El Cubo ("2023 PEA"); the ability of the Company to ramp up processing of mineral resources and material at El Cubo and the Company's other mining projects at the projected rates and source sufficient high grade mineralized material to fill such processing capacity; prices for silver, gold and other metals remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company's projects and to satisfy current liabilities and obligations including debt repayments; capital cost estimates; operating costs; decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation) and inflation rates remaining as estimated; no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
Readers are cautioned that such forward-looking statements and information are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results, level of activity, production levels, performance or achievements of GSilver to differ materially from those expected including, but not limited to, market conditions, availability of financing, future prices of gold, silver and other metals, currency rate fluctuations, high inflation and interest rates, actual results of production, exploration and development activities, actual resource grades and recoveries of silver, gold and other metals, availability of third party mineralized material for processing, unanticipated geological or structural formations and characteristics, geopolitical conflicts including wars, environmental risks, operating risks, accidents, labor issues, equipment or personnel delays, delays in obtaining governmental or regulatory approvals and permits, inadequate insurance, and other risks in the mining industry. There are no assurances that GSilver will be able to successfully discover and mine sufficient quantities of high grade mineral resources or other material at El Cubo, VMC, San Ignacio and Topia (including at Topia buying and processing ore from contractors) for processing at its existing mills to increase production, tonnage milled and recovery rates of gold, silver, and other metals in the amounts, grades, recoveries, costs and timetable anticipated. In addition, GSilver's decision to process mineral resources and other material from El Cubo, VMC, San Ignacio and Topia is not based on a feasibility study of mineral reserves demonstrating economic and technical viability and therefore is subject to increased uncertainty and risk of failure, both economically and technically. Mineral resources and mineralized material that are not mineral reserves do not have demonstrated economic viability, are considered too speculative geologically to have economic considerations applied to them, and may be materially affected by environmental, permitting, legal, title, socio-political, marketing, and other relevant issues. There are no assurances that the Company's projected production of silver, gold and other metals or the 2023 PEA will be realized. In addition, there are no assurances that the Company will meet its production forecasts or generate the anticipated cash flows from operations to satisfy its scheduled debt payments or other liabilities when due or meet financial covenants to which the Company is subject or to fund its exploration programs and corporate initiatives as planned. There is also uncertainty about the continued spread and severity of COVID-19, the ongoing war in Ukraine and high inflation and interest rates and the impact they will have on the Company's operations, supply chains, ability to access mining projects or procure equipment, supplies, contractors and other personnel on a timely basis or at all and economic activity in general. Accordingly, readers should not place undue reliance on forward-looking statements or information. All forward-looking statements and information made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com including the Company's most recently filed annual information form. These forward-looking statements and information are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by law.
SOURCE: Guanajuato Silver Company Ltd.
Tocvan Discovers New Gold - Silver Trend at Picacho Project; Rock Chips Return up to 15.9 g/t Gold, Plus Rock Float with Coarse Visible Gold Specimen Found
https://www.accesswire.com/827238/tocvan-discovers-new-gold--silver-trend-at-picacho-project-rock-chips-return-up-to-159-gt-gold-plus-rock-float-with-coarse-visible-gold-specimen-found
Tuesday, 23 January 2024 09:00
Highlights
Surface Program Completed at Picacho Returns Up to 15.9 g/t Au and 32 g/t Ag
NEW 1.6-kilometer Mineralized Trend Defined
Visible Gold Discovered in Float Sample at San Ramon Prospect, 200-meters from Drill Discovery
75 Samples in Total Collected with Average Grade of 0.6 g/t Au and 2 g/t Ag
Tocvan Ventures Overview
CALGARY, AB / ACCESSWIRE / January 23, 2024 / Tocvan Ventures Corp. (the "Company") (CSE:TOC);(OTCQB:TCVNF);(FSE:TV3)
Infintium Copper Completes 80% Earn In with Minaurum Gold and Releases Final 2023 Drilling Results for La Adelita
https://www.accesswire.com/828007/infintium-copper-completes-80-earn-in-with-minaurum-gold-and-releases-final-2023-drilling-results-for-la-adelita
Wednesday, 24 January 2024 23:00
VANCOUVER, BC / ACCESSWIRE / January 24, 2024 / Infinitum Copper Corp. (TSXV:INFI)(OTCQB:INUMF)
Colibri Begins High-Definition Magnetic Survey and Mapping of Priority Targets at Flagship EP Gold Project in Sonora, Mexico
https://www.newsfilecorp.com/release/194725
January 18, 2024 10:01 AM EST | Source: Colibri Resource Corporation
Dieppe, New Brunswick--(Newsfile Corp. - January 18, 2024) - Colibri Resource Corporation (TSXV: CBI) ("Colibri" or the "Company") announces that it has contracted Geo Digital Imaging de Mexico, S.A. de C.V. to complete an up to 1373.5 hectare (Ha) high-definition magnetic survey covering the highest priority targets identified on the Plomo claims of its flagship EP Gold project. In addition, Company geologists are presently in the field completing an additional geological mapping and sampling study at these priority targets.
Figure 1 - Magnetic Survey Area at EP Gold Project
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/194725_8e74b96d244628ff_001full.jpg
Ian McGavney, Colibri's President & CEO states, "The data generated from these studies will be added to our already robust dataset at the EP Gold Project and will assist us in selecting hole locations for Colibri's inaugural drilling program at the Plomo in Q2 2024. The drill program will test several of our highest priority targets on the Plomo (San Perfecto, Pavo Real, and Banco de Oro) and also further test the West Sahuaro target area on the Evelyn claim, where the Company recently announced the discovery of a zone which exhibited the most continuous and highest grade gold mineralization intersected to date at the EP Project."
The aerial magnetic survey of up to 1373.5 hectares will be completed by way of 312 km in 81 NS lines at 50-meter separation and 8 EW tie-lines at 500-meter separation using a DRONEmag magnetic sensor. This plan has been designed with similar specifications used in a property wide survey at Evelyn in 2020 so that both sets of data can be blended seamlessly. The survey is already underway and began on January 15th. The airborne magnetic survey is expected to take approximately 10 days to complete in the field and the subsequent report of its results and an expert interpretation is anticipated to be delivered within two weeks.
About the EP Project and Next Steps
The EP Gold Project is located within the Caborca Gold Belt ("CGB") of northwestern Sonora and is comprised of the Evelyn and the Plomo properties covering a total of 4,766 hectares ("Ha"). The northwest trending CGB is approximately 500 km in length and is characterized by a number of orogenic-type gold deposits, prospects, and occurrences including the > 15 million ounce La Herradura Mine, located 25 km west of EP, the > 2-million-ounce Noche Buena Mine located approximately 8 km southwest of EP, and the past producing Soledad-Dipolos Mine (> 3 Moz Au) located approximately 32 km to the northwest of EP (see Figure 2).
Figure 2 - EP Project location within the Caborca Gold Belt
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/194725_8e74b96d244628ff_002full.jpg
The Evelyn property was acquired by the Company in 2012 and the acquisition of the Plomo property was completed in March of 2023. On the Evelyn property, Colibri has completed comprehensive surface exploration including soil sampling, geological mapping and outcrop sampling, an airborne magnetic survey, and a property wide induced polarization survey. Since February 2020, Colibri has drilled a total of 12,333 metres (total of reverse circulation and core drilling) and is advancing mineralized zones at the Main Zone, El Sahuaro, and the newly discovered West Sahuaro (see News Release: December . On the Plomo property, the Company has compiled historical exploration data and has completed its first exploration program which included geological mapping and outcrop sampling at selected target areas on the property.
The Company is continuing to advance its EP project-wide interpretation and exploration model and has identified 14 target areas (see Figure 3) with recent and historical work that includes high grade grab samples from outcrop, high grade grab and channel samples from historical mine working, and drill intercepts that are both locally high grade and are consistent with grades being mined in the Caborca Gold Belt.
Figure 3 - EP Project Targets
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4269/194725_8e74b96d244628ff_003full.jpg
ABOUT COLIBRI RESOURCE CORPORATION:
Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) and is focused on acquiring and exploring prospective gold & silver properties in Mexico. The Company holds six high potential precious metal projects.
For more information about all Company projects please visit: www.colibriresource.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements." Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.
For information contact: Ian McGavney, President, and Director, Tel: (506) 383-4274, ianmcgavney@colibriresource.com.
SOURCE: Colibri Resource Corporation
Gatos Silver Reports New Intercepts of High-Grade Mineralization at Cerro Los Gatos
https://ca.finance.yahoo.com/news/gatos-silver-reports-intercepts-high-211500852.html
Gatos Silver, Inc.
Thu, January 25, 2024 at 1:15 p.m. PST
Orla Mining Provides an Update on Infill Drilling at Camino Rojo Sulphides Deposit with Multiple Highly Positive Drill Intersections
https://www.newswire.ca/news-releases/orla-mining-provides-an-update-on-infill-drilling-at-camino-rojo-sulphides-deposit-with-multiple-highly-positive-drill-intersections-856949191.html
Orla Mining Ltd. Jan 25, 2024, 06:00 ET
3.41 g/t Au over 36m, incl. 29.2 g/t Au over 3.0 m,
2.94 g/t Au over 66.5 m, incl. 4.98 g/t Au over 16.5 m,
2.44 g/t Au over 49.5 m, incl. 4.59 g/t Au over 21.0 m, and
2.22 g/t Au over 96.5 m, incl. 3.24 g/t Au over 33.9 m
VANCOUVER, BC, Jan. 25, 2024 /CNW/ - Orla Mining Ltd. (TSX: OLA) (NYSE: ORLA)
SilverCrest Provides Fourth Quarter and Annual Operational Results, Management Update and Conference Call Details
https://www.newswire.ca/news-releases/silvercrest-provides-fourth-quarter-and-annual-operational-results-management-update-and-conference-call-details-850587682.html
SilverCrest Metals Inc. Jan 23, 2024, 17:00 ET
2023 Sales Guidance Exceeded, Treasury Assets Increased by 29% in Q4, 2023
TSX: SIL | NYSE American: SILV
MAG Announces Fourth Quarter and 2023 Production From Juanicipio
https://ca.finance.yahoo.com/news/mag-announces-fourth-quarter-2023-115000515.html
MAG Silver Corp.
Wed, January 24, 2024 at 3:50 a.m. PST
MAG
-0.11%
VANCOUVER, British Columbia, Jan. 24, 2024 (GLOBE NEWSWIRE) -- MAG Silver Corp. (TSX / NYSE American: MAG)
Kootenay Silver Announces Updated Mineral Resource Estimate for La Cigarra Project, Chihuahua Mexico
https://www.newswire.ca/news-releases/kootenay-silver-announces-updated-mineral-resource-estimate-for-la-cigarra-project-chihuahua-mexico-859567404.html
Kootenay Silver Inc. Jan 25, 2024, 07:15 ET
VANCOUVER, BC, Jan. 25, 2024 /CNW/ - Kootenay Silver Inc. (TSXV: KTN)
Endeavour Silver Provides 2024 Update for the Terronera Project; Initial Production Remains on Schedule for End of 2024
https://ca.finance.yahoo.com/news/endeavour-silver-provides-2024-terronera-115000441.html
Endeavour Silver Corporation
Wed, January 24, 2024 at 3:50 a.m. PST·8 min read
EXK
-4.78%
VANCOUVER, British Columbia, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR)
Discovery Announces 2024 Work Program for Cordero
https://ca.finance.yahoo.com/news/discovery-announces-2024-program-cordero-110000383.html
Discovery Silver Corp.
Wed, January 24, 2024 at 3:00 a.m. PST·8 min read
DSVSF
-2.44%
TORONTO, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Discovery Silver Corp. (TSX: DSV, OTCQX: DSVSF) (“Discovery” or the “Company”) is pleased to outline its 2024 work program for its Cordero project (“Cordero” or “the Project”) located in Chihuahua State, Mexico.
Tony Makuch, President and CEO, states: “2024 is expected to be a transformational year for the Company. Our Feasibility Study is nearing completion and is on track to be delivered later this quarter. The study will incorporate an additional 35,000 m of drilling that highlighted the potential to extend the mine life beyond the 18 years outlined in the Pre-Feasibility Study, as well as the results from recent metallurgical testwork that demonstrated higher silver payabilities and reduced reagent consumption.
“The Feasibility Study is expected to position Cordero as the only silver development stage asset in the industry that will produce more than 30 million ounces of silver-equivalent production annually once built. This impressive scale is accompanied by a long mine life, excellent capital efficiency due to staged expansions of the process plant and operating costs in the bottom half of the cost curve, emphasizing the strategic importance of Cordero within the silver space. In 2024, we also look forward to moving our way through the permitting and project financing process with the objective of reaching a construction decision in late 2024 or early 2025. We remain well funded to deliver on our key milestones this year with a cash balance at the end of 2023 of approximately C$60 million.”
ENGINEERING & PROJECT DEVELOPMENT
The Feasibility Study (“FS” or the “Study”) is expected to be delivered later this quarter. The FS will incorporate staged expansions of the processing facility to maximize the capital efficiency of the Project and will include an additional 35,000 m of reserve definition and expansion drilling, the results from the FS metallurgical testwork program as well as additional geotechnical and hydrogeology data collected in 2023. The Company will also provide an updated resource estimate concurrent with the results of the Study.
Following the delivery of the FS the Company plans to commence Front-End Engineering Design (“FEED”) work for the Project. This engineering work consists of early project planning and will enable the Company to place orders for long lead-time items and to award the EPC/EPCM contract for the development of the Project.
The Company plans to progress all financing options for the Project through the course of 2024. These options include equity, debt, offtake, joint ventures, partnerships, lease financing on major equipment, streams, royalties and other strategic alternatives.
PERMITTING
The two principal environmental permits required for the construction, operation and closure of Cordero are:
Environmental Impact Assessment (“Manifestacion de Impacto Ambiental” or “MIA”)
Change of Land Use (“Cambio de Uso de Suelo” or “CUS”)
Both permits are subject to review and approval by the Secretaría de Medio Ambiente y Recursos Naturales (“SEMARNAT”), Mexico’s federal agency for natural resources and the environment.
The Company formally submitted for evaluation its MIA in August 2023. The MIA incorporates extensive social and environmental work programs completed by the Company’s team in Mexico since 2020 in conjunction with multiple reviews by third-party consultants. The review process of the MIA submission by SEMARNAT is ongoing.
The CUS submission is supported by a Change of Land Use Study known as an Estudio Tecnico Justificativo (“ETJ”). Compilation of the ETJ by the Company and third-party consultants will be finalized in the coming months with formal submission of the CUS expected to be made by 3Q 2024.
KEY DE-RISKING ITEMS
Power: impact assessment and power installation studies were completed in 2023 confirming that there is sufficient capacity in the existing power grid to supply the Project with power for operations at peak throughput levels. The FS will include detailed capital cost estimates for the standard upgrades required at the Camargo II substation and for the installation of a 74-kilometre powerline from the substation to Cordero. The Company has identified three potential routes for the powerline. Work in 2024 for the powerline will consist of finalizing the powerline route, surface rights access negotiations, permitting and engineering for both the Camargo II substation upgrade and the new powerline to site. The option to use renewable energy sources at site to supplement grid power will also be evaluated.
Surface Rights: in 2023 the Company secured the surface rights that correspond with the planned open pit and key infrastructure locations at Cordero. In 2024, the Company will focus on acquiring ancillary surface rights where appropriate as well as securing long-term access and lease agreements for nearby land as required.
Hydrology: the two potential sources of water for the Project are local groundwater and water from local water treatment plants in the region. The Company has completed a hydrogeological assessment through its Mexican specialist consultant Investigacion y Desarrollo de Acuiferos y Ambiente (“IDEAS”) utilising data from hydrogeology drilling and pump test wells. Initial results indicate the potential for sufficient local groundwater for Phase 1 of the project (mill throughput of ~25,000 tonnes per day). In addition, M3 Engineering & Technology recently completed a technical review on the scope and cost to source water from local water treatment plants. The results from this review will be incorporated in the upcoming FS.
In 2024, the Company plans to initiate the permitting process for the zoning of the groundwater rights it already owns. The Company also plans to advance engineering work for the required upgrades to the water treatment plant and accompanying water pipeline.
EXPLORATION
In 2024, the Company plans to complete mapping and sampling of new target areas along with 2,500 m of drilling. Key target areas include La Perla (10 km south of Cordero), Dos Mil Diez (immediately southwest of Cordero) and Porfido Norte (10 km north of Cordero).
La Perla – targeting is focused on a zone of anomalous silver from rock sampling within a very large alteration footprint and high chargeability / low resistivity anomalies defined by the geophysics program completed in 2022. Historical mine workings are also present within a northeast trending structural corridor (parallel to the orientation of the main mineralized trends at Cordero).
Dos Mil Diez – further mapping and sampling is planned to support the evaluation of chargeability anomalies identified during an IP survey completed in 2022. Dos Mill Diez is located in an area of mapped intrusives, veining and alteration, directly to the southwest of Cordero.
Porfido Norte – additional mapping and sampling is planned to define targets within a northeast trending structural corridor in this area.
The planned drill program for 2024 may be expanded depending on the results of the mapping and sample program and initial drilling. A map showing the location of these target areas can be found at the following link: Property Wide Targets
About Discovery
Discovery’s flagship project is its 100%-owned Cordero project, one of the world’s largest silver deposits. The PFS completed in January 2023 demonstrates that Cordero has the potential to be developed into a highly capital efficient mine that offers the combination of margin, size and scaleability. Cordero is located close to infrastructure in a prolific mining belt in Chihuahua State, Mexico.
On Behalf of the Board of Directors,
Tony Makuch, P.Eng
President, CEO & Director
For further information contact:
Forbes Gemmell, CFA
VP Corporate Development
Phone: 416-613-9410
Email: forbes.gemmell@discoverysilver.com
Website: www.discoverysilver.com
Qualified Person
Gernot Wober, P.Geo, VP Exploration, Discovery Silver Corp., is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release is accurate.
The most recent technical report for the Cordero Project is the 2023 Preliminary Feasibility Study for the Company’s Cordero project. The report was completed by Ausenco with support from AGP, Knight Piésold and Hard Rock and is available on Discovery’s website and on SEDAR under Discovery Silver Corp.
FORWARD-LOOKING STATEMENTS:
Neither TSX Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release is not for distribution to United States newswire services or for dissemination in the United States.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
Cautionary Note Regarding Forward-Looking Statements
This news release may include forward-looking statements that are subject to inherent risks and uncertainties. All statements within this news release, other than statements of historical fact, are to be considered forward looking. Although Discovery believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those described in forward-looking statements. Statements include but are not limited to the timing and results of the feasibility study and the anticipated capital and operating costs, sustaining costs, net present value, internal rate of return, payback period, process capacity, average annual metal production, average process recoveries, concession renewal, permitting of the Project, anticipated mining and processing methods, proposed pre-feasibility study production schedule and metal production profile, anticipated construction period, anticipated mine life, expected recoveries and grades, anticipated production rates, infrastructure, social and environmental impact studies, the completion of key de-risking items, including the timing of receipt permits, availability of water and power, availability of labour, tax rates and commodity prices that would support development of the Project. Information concerning mineral resource/reserve estimates and the economic analysis thereof contained in the results of the pre-feasibility study are also forward-looking statements in that they reflect a prediction of the mineralization that would be encountered, and the results of mining, if a mineral deposit were developed and mined. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those described in forward-looking statements include fluctuations in market prices, including metal prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. Discovery does not assume any obligation to update any forward-looking statements except as required under applicable laws. The risks and uncertainties that may affect forward-looking statements, or the material factors or assumptions used to develop such forward-looking information, are described under the heading "Risks Factors" in the Company’s Annual Information Form dated March 30, 2023, which is available under the Company’s issuer profile on SEDAR at www.sedarplus.ca.
Bear Creek Mining Announces Q4 2023 Mercedes Gold Production of 13,478 Ounces; a 47% Increase over Previous Quarter
2023 Mercedes Production at High End of Guidance with 43,860 Ounces of Gold Produced
https://www.newsfilecorp.com/release/194313
January 16, 2024 8:30 AM EST | Source: Bear Creek Mining Corporation
Vancouver, British Columbia--(Newsfile Corp. - January 16, 2024) - Bear Creek Mining Corporation (TSXV: BCM) (OTCQX: BCEKF) (BVL: BCM)
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