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Kootenay Silver Announces Commencement of 2024 Drilling Program at Columba High Grade Silver Project
https://www.newswire.ca/news-releases/kootenay-silver-announces-commencement-of-2024-drilling-program-at-columba-high-grade-silver-project-895680186.html
Kootenay Silver Inc. Mar 14, 2024, 07:30 ET
VANCOUVER, BC, March 14, 2024 /CNW/ - Kootenay Silver Inc. (TSXV: KTN)
CMC Announces Cancellation of Private Placement and the Agreement to Acquire the Gavilanes Project in Durango, Mexico Due to the Rejection of the Exploration Permit Renewal by SEMARNAT
https://www.accesswire.com/842447/cmc-announces-cancellation-of-private-placement-and-the-agreement-to-acquire-the-gavilanes-project-in-durango-mexico-due-to-the-rejection-of-the-exploration-permit-renewal-by-semarnat
Wednesday, 13 March 2024 08:00 AM
VANCOUVER, BC / ACCESSWIRE / March 13, 2024 / CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5P)(OTCQB:CMCXF) ("CMC" or the "Company") announces cancellation of the $1.2 million private placement announced on February 28, 2024 due to the failure of the property owner of the silver-gold-polymetallic Gavilanes project in Durango, Mexico to achieve an extension of the exploration permit with SEMARNAT, Mexico's permitting authority. In addition, CMC has subsequently served notice of its intent to terminate the agreement with Sailfish Royalty Corp. to acquire the Gavilanes project but remains interested in securing exclusivity rights until October 2024.
CMC now intends to revert its attention to its flagship Silverknife Property in British Columbia which has considerable exploration potential for high grade silver-lead-zinc carbonate replacement and skarn deposits.
Kevin Brewer, President and CEO of CMC noted "The decision by SEMARNAT to not extend the permit renewal at the Gavilanes project is disappointing. The preparation and filing of the application was the sole responsibility of the property owner and as a result CMC was left with no choice but to pull out of the agreement to initiate the acquisition of Gavilanes. This event was not within our control and was not possible to foresee by all involved parties. We still consider the Gavilanes Deposit to have excellent potential for resource expansion and be a ‘company maker' and we therefore remain interested in the project under revised circumstances and terms. However, our strategy to have a strong and diversified asset portfolio now allows us to revert our attention to the Silverknife Project in North-Central British Columbia which continues to hold potential for the discovery of high-grade silver-lead-zinc-critical mineral carbonate replacement and skarn deposits."
About CMC Metals Ltd.
CMC Metals Ltd. is a growth stage exploration company focused on the exploration of high-grade silver-lead-zinc critical mineral carbonate replacement and skarn deposits in the Rancheria Silver District in Northern British Columbia and Yukon. Their properties include their flagship Silverknife project which is immediately adjacent to Coeur Mining's Silvertip deposit, one of the highest-grade underground CRD-vein deposits in the world, the Silver Hart Deposit and Blue Heaven claims (Yukon) and the Amy claims (north-central British Columbia). Other polymetallic projects in its portfolio and available for option include the Bridal Veil (Newfoundland) which is an orogenic gold target, and silver-gold target - Logjam (Yukon) possibly with porphyritic association..
On behalf of the Board:
"John Bossio"
John Bossio, Chairman
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: (709) 327 8013
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.
Riverside Resources and Fortuna Silver Sign Exploration Earn-In Option Agreement for the Cecilia Project Sonora, Mexico
https://www.newsfilecorp.com/release/201529
March 13, 2024 8:00 AM EDT | Source: Riverside Resources Inc.
Vancouver, British Columbia--(Newsfile Corp. - March 13, 2024) - Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) ("Riverside" or the "Company"), is pleased to announce it has signed an option agreement on March 8, 2024 with Fortuna Silver's subsidiary Compania Minera Cuzcatlan (CMC) on Riverside's Cecilia Gold Silver Project in Sonora, Mexico where through a series of payments and work commitments, Fortuna may earn a majority interest. Riverside will remain the program operator using its local team based in Hermosillo, Sonora and adding strength to its international geoscience staff. The Cecilia Project is a titled and 100% Riverside owned district scale gold and silver, low sulfidation epithermal system, located 40 KM southwest of the Mexico-U.S.A. border city of Agua Prieta and is directly accessible by a well-maintained paved and then dirt road. The project is over 60 KM sq and has over 10 different exploration targets, with at least two nested dome complexes like the domes in Peru at the Yanacocha Mining District and in Bolivia at the Korri Kollo Mine, which have produced well over 25M and 5M oz gold respectively. This new Agreement enables the Project to immediately move ahead with a robust exploration program and reflects the belief, by both parties, of the potential for rapid discovery of new precious metal deposits.
Highlights of the Agreement are summarized below:
Fortuna Silver Option of Riverside's Cecilia project with commitment of work, including an initial planned minimum 1000 meters drilling campaign.
Work expenditures of 500k/yr for the first 4 years and 1.75M in final year.
An initial payment of $50,000 to Riverside upon signing and then $25,000 each year for a total of $150,000.
A total work spends of US$3,750,000 for an initial 51% interest and second option total spending of US$6,000,000 to earn 80% interest.
Option agreement terms:
First Option:
5 years to earn 51% by spending US$3.75M in work and paying US$150,000 in cash payments to Riverside with required work of at least $500,000 in the first year for the Option and Riverside has the drill permits in hand. Fortuna has paid Riverside the initial $25,000 on signing and pays $25,000 more on filing the agreement in Mexico. Then pays Riverside $25,000 each year plus Riverside acts as operator for the program with a 10% management fee on top of the work spending commitments each year.
Second Option:
Upon completion of First Option, Fortuna may elect to progress with a second option to earn to 80% by spending an additional $2.25M in work over 3 additional years.
Third Option:
After completing Second Option, Fortuna may elect within 120 days to pay Riverside $5M cash and grant Riverside a 2% NSR where 1% NSR may be purchased before commercial production for $3M thereby Fortuna earning 100% interest in the project.
Riverside's President and CEO, John-Mark Staude, stated: "We are delighted to partner with Fortuna Silver as we have had a productive and respectful relationship having worked in parallel in Mexico for over 15 years. Riverside has invested in working up the project to an actionable stage and consolidated the tenures making this a highly prospective property that warrants the type of deep and thorough exploration attention that this agreement provides."
Riverside will be reimbursed for all annual concession maintenance fees, property taxes, access fees, and any other payments required to maintain the Project. As Operator, Riverside will manage the exploration programs and be entitled to collect administration fees of 10% on the work programs. Riverside Ceclia project is a high-quality project, and we are excited to see it now moving ahead with mid-Tier Mexico producer as our partner and the project fully fundable this way.
Riverside has the right to sell interest in the joint venture or royalty through a first right of offer (ROFO). Similarly, Fortuna can do the same providing Riverside with first right of offer.
Cecilia Project:
Riverside Resources has undertaken comprehensive exploration efforts at the property, including drilling activities that have yielded significant gold intercepts. Notably, drill results have intersected near surface promising intercepts such as 37 meters at 1.5 grams per ton of gold (>50 gram meter) within the rhyodacite dome, showcasing the property's substantial potential at shallow depths. The project has high potential to follow these intercepts and go for larger intersections and big potential targets at depth.
What distinguishes this project is the potential of a preserved fertile dome system. The Magallanes Target, situated at the central part of the project, exhibits interaction within extensive NE-NW structures, presenting a compelling opportunity for the discovery of high-grade ore shoots and/or bulk-mineable epithermal gold-silver deposits. Moreover, the geological framework of the project, notably its host rock and stratigraphy as evidenced in the surrounding targets (e.g. in the Casa de Piedra Target), suggest the presence of mantos containing disseminated and/or replacement Au-Ag enriched polymetallic mineralization at depth. This geological scheme of the Cecilia Project resembles the Tertiary-age rhyolite systems, like the La Pitarrilla Ag-Pb-Zn project that has a total In-pit and Underground (Oxide, Transition and Sulphide) of about 844M AgEq*, and Fresnillo's San Julian Ag-Au Mine (~350M AgEq**), both situated in Durango, Mexico and also located in the Sierra Madre Volcanic Province.
* See Endeavour Silver press release date December 8, 2022
** Obtained from Fresnillo public presentation, Hermosillo, Oct 2016
Qualified Person:
This news release was reviewed and approved by Freeman Smith, P.Geo., a non-independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided within this news release is accurate and who acts as a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $6M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside's own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company's website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
"John-Mark Staude"
Dr. John-Mark Staude, President & CEO
For additional information contact:
John-Mark Staude
President, CEO
Riverside Resources Inc.
info@rivres.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com
Mehran Bagherzadeh
Corporate Communications
Riverside Resources Inc.
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., "expect"," estimates", "intends", "anticipates", "believes", "plans"). Such information involves known and unknown risks -- including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Riverside Resources Inc.
Silver Dollar Commences Follow-up Fieldwork at its 100%-owned Nora Silver-Gold Project
Work includes surface sampling of priority anomalies and resampling of the main Candy Vein structure
https://www.newsfilecorp.com/release/201324
March 12, 2024 8:30 AM EDT | Source: Silver Dollar Resources Inc.
Vancouver, British Columbia--(Newsfile Corp. - March 12, 2024) - Silver Dollar Resources Inc. (CSE: SLV) (OTCQX: SLVDF) (FSE: 4YW) ("Silver Dollar" or the "Company") has commenced its re-evaluation of the Nora Silver-Gold property (the "Property") in the state of Durango, Mexico.
Figure 1: Nora property plan view with surface sample locations.
To view an enhanced version of this graphic, please visit:
https://silverdollarresources.com/images/Nora/Nora-Surface-Sampling_Feb-24.jpg
Fieldwork was carried out in late February that included geological mapping and sampling of priority anomalies along with resampling of the Candy Vein (Figure 1). A total of 72 surface samples were collected as follows:
12 soil grid samples were taken from the East anomaly.
10 soil grid samples were taken from the West anomaly.
9 soil grid samples were taken from the South anomaly.
41 rock/chip samples were taken from the main Candy Vein structure in an attempt to replicate the sample locations and high-grade results originally reported by Canasil Resources, the former owner of the Property. In the case where no visual evidence was found in the field of where a previous sample had been taken, the new sample was taken based on Canasil's coordinates and the probable outcrop.
All samples were described, photographed, and bagged on-site; and then delivered by Silver Dollar staff to ActLabs in Zacatecas, Mexico for analysis. The assay results will be reported once they are received.
Photo 1: Sampling the main Candy Vein structure.
To view an enhanced version of this graphic, please visit:
https://silverdollarresources.com/images/Nora/Candy-Vein-Sampling-0224.jpg
About the Nora Property:
Silver Dollar acquired a 100% interest in the Nora Ag-Au property (the "Property") from Canasil Resources, subject to a 2% net smelter returns royalty (See news release of February 8, 2024).
Located 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 (Figure 2). 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 project approximately 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, Silver Dollar's technical advisors.
Figure 2: Location of the 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 Property is located approximately 200 km north-northwest of the city of Durango, with excellent year-round access via Federal highway, paved road, and local dirt roads. Local infrastructure is available in the towns of Tepehuanes and Santa Maria del Oro and the city of Santiago Papasquiaro, all within 50km of the Property.
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 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.
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
February 12, 2024
EXK
-2.30%
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.
Defiance Silver: Tepal Project Ownership Confirmed and Update on Private Placement
https://www.newsfilecorp.com/release/200786
March 07, 2024 1:30 AM EST | Source: Defiance Silver Corp.
Vancouver, British Columbia--(Newsfile Corp. - March 7, 2024) - Defiance Silver Corp. (TSXV: DEF) (FSE: D4E) (WKN: A1JQW5) ("Defiance" or the "Company") is pleased to report that no appeal has been filed in connection with the favorable ruling of the Mexican Court restoring the Company's rightful ownership to the mining concessions forming part of the Tepal project (see the Company's news release dated February 15, 2024 for more details). As a result, the judgement is now fully enforceable, and Geologix Explorations Mexico, S.V de C.A, a subsidiary of the Company, is now confirmed as the legitimate and rightful owner of the concessions.
Update on Private Placement
On February 5th, the Company announced a private placement of up to C$3,000,000 comprised of units priced at $0.10 per unit (the "Offering"), with each unit comprised of one common share of the Company (each a "Common Share") and one half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will be exercisable to acquire one Common Share (each a "Warrant Share") at a price of C$0.20 per Warrant Share at any time on or before the date which is 24 months after the closing of the Offering (see the Company's news release for more details). On February 28th, the Company announced a first closing of the Offering (see the Company's news release for more details).
The Company intends to proceed shortly with a second closing of the Offering and will issue an updating news release following the closing. The Offering remains subject to the final approval of the TSX Venture Exchange.
About Defiance Silver Corp.
Defiance Silver Corp. (DEF | TSX Venture Exchange; DNCVF | OTCQX; D4E | Frankfurt) 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.
Caution Regarding Forward-Looking Information
Information contained in this news release which are not statements of historical facts may be "forward-looking information" for the purposes of Canadian securities laws. Such forward-looking information involves risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward looking information. The words "believe", "expect", "anticipate", "contemplate", "plan", "intends", "continue", "budget", "estimate", "may", "will", "schedule", "understand" and similar expressions identify forward-looking information. These forward-looking statements relate to, among other things: the Company's ability to close a second tranche of the Offering.
Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by Defiance, are inherently subject to significant technical, political, business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information. Factors and assumptions that could cause actual results or events to differ materially from current expectations include, among other things: political risks associated with the Company's operations in Mexico.
There can be no assurances that forward-looking information and statements will prove to be accurate, as many factors and future events, both known, and unknown could cause actual results, performance, or achievements to vary or differ materially from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements contained herein or incorporated by reference. Accordingly, all such factors should be considered carefully when making decisions with respect to Defiance, and prospective investors should not place undue reliance on forward looking information. Forward-looking information in this news release is made as at the date hereof. The Company assumes no obligation to update or revise forward-looking information to reflect changes in assumptions, changes in circumstances or any other events affecting such forward-looking information, except as required by applicable law.
SOURCE: Defiance Silver Corp.
Tocvan Samples High-Grade Gold and Silver 6-kilometers from Pilar Main Zone Returns up to 1,225 g/t Ag and 3.2 g/t Au
https://www.accesswire.com/840660/tocvan-samples-high-grade-gold-and-silver-6-kilometers-from-pilar-main-zone-returns-up-to-1225-gt-ag-and-32-gt-au
Friday, 08 March 2024 09:00 AM
Highlights
High-Grade Gold, Silver and Polymetallic Mineralization Discovered 6-km North of Pilar's Main Zone
Mineralization Coincides with Artisanal Mining Activity Along Strongly Altered Corridor, 3.3 km x 1.5 km
Part of Same Alteration Trend with Recent Discovery, 2m Chip of 5.6 g/t Au and 106 g/t Ag
Rock Sample from Workings up to:
3.2 g/t Gold
1,225 g/t Silver
0.42% Copper
>20% Lead
3.4% Zinc
CALGARY, AB / ACCESSWIRE / March 8, 2024 / Tocvan Ventures Corp. (the "Company") (CSE:TOC)(OTCQB:TCVNF)(FSE:TV3), is pleased to announce surface exploration results from its road accessible Pilar gold-silver project in the mine-friendly State of Sonora, Mexico.
Surface mapping and sampling across the property have returned very high-grade silver with gold values tied to historic artisanal workings 6-kilometers north of Pilar's Main Zone. Two samples yielded 1,225 g/t Ag with 3.2 g/t Au (slag sample 334067, 4.49 kg) and 744 g/t Ag with 0.2 g/t Au (sample 334066, 3.65 kg) from sample material next to the workings. The host rocks are intensely argillized and silicified volcanics showing an association with a larger hydrothermal system that trends within the newly acquired Pilar expansion area. The samples also show higher polymetallic association with sample 334067 returning 0.42% Cu, 3.4% Zn, and over 20% Pb (assay over limit was reached, additional analysis is required to determine total Pb content). A broader alteration zone that extends 3.3 kilometers by 1.5 kilometers has seen very limited work to date however early results indicate significant mineralization in several locations including 2m at 5.6 g/t Au and 106 g/t Ag, 0.3 g/t Au and 55 g/t Ag, and 0.1 g/t Au and 63 g/t Ag. The massive target area will continue to see first pass evaluation to advance towards drill targeting.
"The results today further showcase the potential for significant mineralization beyond Pilar's Main Zone." commented Brodie Sutherland, CEO. "The North Alteration Zone is providing more evidence of a broad target area. The high silver values along with other pathfinder elements are indicating significant potential for targets at depth. Much of the area remains unexplored to date, however each time we evaluate more, we are returning with significant findings. Further to the south where placer mining remains active, there is clear evidence for new trends parallel Pilar's Main Zone. These trends are beginning to be evaluated and early mapping and assessment are uncovering more of the potential. We are excited about the potential to generate multiple quality targets for future drill testing, driving new discoveries."
Figure 1. Pilar Project Planview map showing the southern block made up of the Pilar Main Zone and several parallel trends untested with coinciding active placer mining developments. The largest placer mining development is 2km to the northeast of Pilar and has seen no systematic modern exploration. To the north, a large alteration zone that spans 3.3 km by 1.5 km (North Alteration Zone) has returned high-grade gold and silver values in the first few sampling programs across the newly acquired area.
Summary of New Surface Discoveries:
Pilar Extension North and Northeast:
Surface sampling returned 3.5 g/t Au and 645 g/t Ag
Placer Mining Corridors
New 3-kilometer corridor with multiple target zones
New Surface Discovery in 3-kilometer long alteration zone returned:
2-meters of 5.6 g/t Au and 106 g/t Ag
0.2 g/t Au and 744 g/t Ag
3.2 g/t Au and 1,225 g/t Ag
0.3 g/t Au and 55 g/t Ag
0.1 g/t Au and 63 g/t Ag
Photos 1 & 2. Intense argillic and silica alteration of volcanic host rocks yielding high grade-gold and silver tied to recent artisanal workings in the newly acquired expansion area. Sample 334067 returned 1,225 g/t Ag, 3.2 g/t Au, 0.42% Cu, 3.4% Zn and >20% Pb.
About the Pilar Property
The Pilar Gold-Silver property has recently returned some of the regions best drill results. Coupled with encouraging gold and silver recovery results from metallurgical test work, Pilar is primed to be a potential near-term producer. Pilar is interpreted as a structurally controlled low-sulphidation epithermal system hosted in andesite rocks. Three primary zones of mineralization have been identified in the north-west part of the property from historic surface work and drilling and are referred to as the Main Zone, North Hill and 4-T. The Main Zone and 4-T trends are open to the southeast and new parallel zones have been recently discovered. Structural features and zones of mineralization within the structures follow an overall NW-SE trend of mineralization. Mineralization extends along a 1.2-km trend, only half of that trend has been drill tested so far. To date, over 23,000 m of drilling has been completed.
Pilar Drill Highlights:
2022 Phase III Diamond Drilling Highlights include (all lengths are drilled thicknesses):
116.9m @ 1.2 g/t Au, including 10.2m @ 12 g/t Au and 23 g/t Ag
108.9m @ 0.8 g/t Au, including 9.4m @ 7.6 g/t Au and 5 g/t Ag
63.4m @ 0.6 g/t Au and 11 g/t Ag, including 29.9m @ 0.9 g/t Au and 18 g/t Ag
2021 Phase II RC Drilling Highlights include (all lengths are drilled thicknesses):
39.7m @ 1.0 g/t Au, including 1.5m @ 14.6 g/t Au
47.7m @ 0.7 g/t Au including 3m @ 5.6 g/t Au and 22 g/t Ag
29m @ 0.7 g/t Au
35.1m @ 0.7 g/t Au
2020 Phase I RC Drilling Highlights include (all lengths are drilled thicknesses):
94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;
41.2m @ 1.1 g/t Au, including 3.1m @ 6.0 g/t Au and 12 g/t Ag ;
24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/t Ag
15,000m of Historic Core & RC drilling. Highlights include:
21.0m @ 38.3 g/t Au and 38 g/t Ag
13.0m @ 9.6 g/t Au
9.0m @ 10.2 g/t Au and 46 g/t Ag
61.0m @ 0.8 g/t Au
Pilar Bulk Sample Summary:
62% Recovery of Gold Achieved Over 46-day Leaching Period
Head Grade Calculated at 1.9 g/t Au and 7 g/t Ag; Extracted Grade Calculated at 1.2 g/t Au and 3 g/t Ag
Bulk Sample Only Included Coarse Fraction of Material (+3/4" to +1/8")
Fine Fraction (-1/8") Indicates Rapid Recovery with Agitated Leach
Agitated Bottle Roll Test Returned Rapid and High Recovery Results: 80% Recovery of Gold and 94% Recovery of Silver after Rapid 24-hour Retention Time
Additional Metallurgical Studies:
Gravity Recovery with Agitated Leach Results of Five Composite Samples Returned
95 to 99% Recovery of Gold
73 to 97% Recovery of Silver
Includes the Recovery of 99% Au and 73% Ag from Drill Core Composite at 120-meter depth.
About Tocvan Ventures Corp.
Tocvan Ventures Overview
Tocvan is a well-structured exploration development company. Tocvan was created in order to take advantage of the prolonged downturn in the junior mining exploration sector, by identifying and negotiating interest in opportunities where management feels they can build upon previous success. Tocvan has approximately 43 million shares outstanding and is earning 100% into two exciting opportunities in Sonora, Mexico: the Pilar Gold-Silver project and the Picacho Gold-Silver project. Management feels both projects represent tremendous opportunity to create shareholder value.
Quality Assurance / Quality Control
Channel samples were shipped for sample preparation to ALS Limited in Hermosillo, Sonora, Mexico and for analysis at the ALS laboratory in North Vancouver. The ALS Hermosillo and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Gold was analyzed using 50-gram nominal weight fire assay with atomic absorption spectroscopy finish. Over limits for gold (>10 g/t), were analyzed using fire assay with a gravimetric finish. Silver and other elements were analyzed using a four-acid digestion with an ICP finish. Over limit analyses for silver (>100 g/t) were re-assayed using an ore-grade four-acid digestion with ICP-AES finish. Control samples comprising certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's robust quality assurance / quality control protocol.
Brodie A. Sutherland, CEO for Tocvan Ventures Corp. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.
Cautionary Statement Regarding Forward Looking Statements
Neither the Canadian Securities Exchange nor its regulation services provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking information in this news release includes statements regarding the use of proceeds from the Offering. Such forward-looking information is often, but not always, identified by the use of words and phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company's business, the Company's formative stage of development and the Company's financial position. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws.
There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
For more information, please contact:
TOCVAN VENTURES CORP.
Brodie A. Sutherland, CEO
820-1130 West Pender St.
Vancouver, BC V6E 4A4
403-829-9877
bsutherland@tocvan.ca
The Howard Group
Jeff Walker
VP Howard Group Inc.
403-221-0915
jeff@howardgroupinc.com
SOURCE: Tocvan Ventures Corp
Luca Mining Reports Record Production at Tahuehueto, Consistent Positive Operating Cash Flow Achieved at Campo Morado, Management Updates and Retention of Market Maker
https://www.prnewswire.com/news-releases/luca-mining-reports-record-production-at-tahuehueto-consistent-positive-operating-cash-flow-achieved-at-campo-morado-management-updates-and-retention-of-market-maker-302077035.html
Luca Mining Corp. 04 Mar, 2024, 07:00 ET
VANCOUVER, BC, March 4, 2024 /PRNewswire/ - Luca Mining Corp. ("Luca" or the "Company") (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) reports the following updates on its operations in Mexico and Management changes.
Tahuehueto
Construction of the Tahuehueto gold and silver mine in Durango, Mexico, is nearing completion with final components to be installed in early Q2 2024. Commissioning is well underway and will be completed as the final circuit components are installed. The mine plan calls for the ramp-up to an approximate 1,000 tonne per day operation during 2H 2024 which is rapidly being achieved. Throughput levels are averaging approximately 65% of nameplate capacity and will progressively increase as ramp-up continues, resulting in higher concentrate production and generating additional revenue for the Company.
The mine achieved a new daily production record of 655 tonnes this week.
Campo Morado
At the Campo Morado copper, zinc, lead mine in Guerrero, Mexico, the optimization program has to date developed fundamental improvements in productivity, operational efficiency and cashflow. 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 result has been higher metallurgical recoveries, higher grades in concentrate and increasing revenues. We are pleased to announce that Campo Morado is now consistently generating positive operating cash flow. With the planned production of three separate (copper, zinc and lead) higher value concentrates around mid-year, each with precious metals credits, revenue and cashflow are expected to continue their upward trend for the remainder of 2024.
Management
Leading these highly successful initiatives has been Mike Struthers, CEO. Mike came into the Company with the mandate to complete the construction of Tahuehueto and optimize operations at Campo Morado. Working with Luca's skilled and dedicated teams at both mine sites, he has achieved these goals and will now step back from running the day-to-day operations to spend more time with his family and will remain a technical advisor to the Company. As part of the Company's transition, it will continue to focus on operations and at the same time build out its market presence as a growing producer. As such, Ramon Perez, President has been appointed Interim CEO, and Peter Damouni will become Executive Director. Christopher Richings Vice President Technical along with the Company's consulting engineers, Ausenco will continue to lead the operations on the ground.
Ramon Perez, President and Interim CEO, commented, "Mike Struthers breathed new life into the Company. Under his leadership Tahuehueto was built into a significant new gold mine. Concurrently, Campo Morado has been transformed into a positive cash flowing asset with substantial upside as a copper-zinc producer. In addition, Mike has added significant bench strength with important new hires to the operational team. We appreciate everything he has done and we are glad he will remain part of the Company as technical advisor as we continue Luca's growth. Now that the operations are progressing in a positive direction, management aims to focus on increasing public awareness of Luca's achievements as a growing junior producer. We are working toward providing financial guidance in the coming months."
Market Maker
Luca has recently experienced some volatility in trading, which is wholly unrelated to the progress we have been making on operations and revenue generation. Accordingly, we have decided to retain the services of Venture Liquidity Providers Inc. ("VLP") to initiate market-making services to aid in maintaining an orderly trading market and improving the liquidity of Luca's common shares.
The market-making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in compliance with the applicable policies of the TSX Venture Exchange ("TSX-V") and other applicable laws.
For its services, the Company has agreed to pay VLP CAD $5,000 per month for a period of three months. The agreement may be terminated at any time by the Company or VLP. The Company and VLP act at arm's length, and VLP has no present interest, directly or indirectly, in the Company or its securities. The finances and the shares required for the market-making service are provided by W.D. Latimer. The fee paid by the company to VLP is for services only.
The agreement is subject to TSX-V approval.
About Venture Liquidity Providers Inc.
VLP is a specialized consulting firm based in Toronto providing a variety of services focused on TSX-V listed issuers. VLP's exclusive Market Making Service is provided by W.D. Latimer Co. Limited, Canada's premier Market Making Firm.
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) "Ramon Perez"
Ramon Perez, President and Interim CEO
Qualified Persons
The technical information contained in this News Release has been reviewed and approved by Mr. Chris Richings, Vice-President Technical at Luca Mining as the Qualified Person for the Company as defined in National Instrument 43-101.
Cautionary Note Regarding Production Decisions and Forward-Looking Statements
It should be noted that Luca declared commercial production at Campo Morado prior to completing a feasibility study of mineral reserves demonstrating economic and technical viability. Accordingly, readers should be cautioned that Luca's production decision has been made without a comprehensive feasibility study of established reserves such that there is greater risk and uncertainty as to future economic results from the Campo Morado mine and a higher technical risk of failure than would be the case if a feasibility study were completed and relied upon to make a production decision. Luca has completed a preliminary economic assessment ("PEA") mining study on the Campo Morado mine that provides a conceptual life of mine plan and a preliminary economic analysis based on the previously identified mineral resources (see news releases dated November 8, 2017, and April 4, 2018).
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.
GR Silver Provides Operational Updates and Announces the Start of Small Bulk Sampling and Test Mining at the Plomosas Project
https://www.newswire.ca/news-releases/gr-silver-provides-operational-updates-and-announces-the-start-of-small-bulk-sampling-and-test-mining-at-the-plomosas-project-814228989.html
GR Silver Mining Ltd. Mar 04, 2024, 19:33 ET
VANCOUVER, BC, March 4, 2024 /CNW/ - GR Silver Mining Ltd. ("GR Silver Mining" or the "Company") (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE)
MAG Silver Reports Preliminary 2024 Juanicipio Guidance
https://ca.finance.yahoo.com/news/mag-silver-reports-preliminary-2024-115000917.html
MAG Silver Corp.
Tue, March 5, 2024 at 3:50 a.m. PST
MAG
+4.62%
FRES.L
-2.92%
VANCOUVER, British Columbia, March 05, 2024 (GLOBE NEWSWIRE) -- MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG”, “MAG Silver”, or the “Company”) reports preliminary 2024 guidance for the high-grade Juanicipio Mine jointly owned by Fresnillo plc (“Fresnillo”) (56%) and MAG (44%).
Highlights:
Robust silver head grade: As reported by Fresnillo, the project operator, silver head grade at Juanicipio is expected to range between 380 grams per tonne (g/t) and 420 g/t for 2024, translating to significant silver production potential.
Nameplate capacity: The plant is anticipated to operate at nameplate capacity per operating day with an effective utilization of 91%, ensuring consistent and efficient production.
Technical report on track: MAG remains on schedule to publish its updated technical report by the end of Q1 2024, providing more definitive guidance and solidifying our outlook for the Juanicipio Mine
“Following a very successful start-up and ramp-up phase in 2023, the Juanicipio Mine is now operating at steady-state with robust silver grades and operations beginning to benefit from increasing efficiencies,” said George Paspalas, President and CEO of MAG. “With the release of our updated technical report on the horizon, we're eager to paint an even clearer picture of the exciting future ahead for Juanicipio and MAG Silver.”
About MAG Silver Corp. (www.magsilver.com)
MAG Silver Corp. is a growth-oriented Canadian exploration company focused on advancing high-grade, district scale precious metals projects in the Americas. MAG Silver is emerging as a top-tier primary silver mining company through its (44%) joint venture interest in the 4,000 tonnes per day (tpd) Juanicipio Mine, operated by Fresnillo plc (56%). The mine is located in the Fresnillo Silver Trend in Mexico, the world’s premier silver mining camp, where in addition to underground mine production and processing of high-grade mineralized material, an expanded exploration program is in place targeting multiple highly prospective targets. MAG Silver is also executing multi-phase exploration programs at the Deer Trail 100% earn-in Project in Utah and the 100% owned Larder Project, located in the historically prolific Abitibi region of Canada.
Neither the Toronto Stock Exchange nor the NYSE American has reviewed or accepted responsibility for the accuracy or adequacy of this press release, which has been prepared by management.
This release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the US Private Securities Litigation Reform Act of 1995 or “forward-looking information” within the meaning of applicable Canadian securities legislation (collectively, “forward-looking statements”). All statements in this release, other than statements of historical facts are forward looking statements, including statements regarding: provisional estimates relating to production and operations at Juanicipio for 2024, including anticipated silver head grade and processing rates of development materials; the release of an updated technical report by the end of Q1 2024 with respect to the Juanicipio Mine and the expected contents and benefits of such report; future mineral production, and events or developments. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. 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. Although MAG 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 in the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements identified herein include, but are not limited to, risks related to the control of Juanicipio cashflows and operations through a joint venture in which the Company is a non-operator; there being no guarantee of the surface rights for the Juanicipio property or in the Company’s ability to obtain and maintain all necessary licences and permits that may be required to carry out its business activities at the Juanicipio Mine; risks related to maintaining a positive relationship with the communities in which the Company operates; risks related to the Company’s decision to participate in the processing and production of the Juanicipio Mine; risks related to the limited operating history at Juanicipio; geotechnical risks associated with the operation of the Juanicipio Mine and related civil structures; labour risks; changes in applicable laws; risks to title, challenge to title or potential title disputes at Juanicipio; continued availability of capital and financing; and general economic, market or business conditions; political risk; currency risk; capital cost inflation and those other risks disclosed in MAG Silver’s filings with the Securities Exchange Commission and Canadian securities regulators. All forward-looking statements contained herein are made as at the date hereof and MAG Silver undertakes no obligation to update the forward-looking statements contained herein. There is no certainty that any forward-looking statement will come to pass, and investors should not place undue reliance upon forward-looking statements.
Please Note: Investors are urged to consider closely the disclosures in MAG's annual and quarterly reports and other public filings, accessible through the internet at www.sedarplus.ca and www.sec.gov.
CONTACT: For further information on behalf of MAG Silver Corp. Contact
Michael J. Curlook, Vice President, Investor Relations and
Communications Phone: (604) 630-1399
Toll Free: (866) 630-1399 Website: www.magsilver.com Email: info@magsilver.com
Asia Broadband Signs Definitive Acquisition Agreement for High-Grade Gold Property in Jalisco Mexico
https://ca.finance.yahoo.com/news/asia-broadband-signs-definitive-acquisition-130000735.html
Asia Broadband Inc.
Wed, March 6, 2024 at 5:00 a.m. PST·3 min read
AABB
+2.40%
OTCM
-2.34%
LAS VEGAS, March 06, 2024 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company has signed a definitive purchase agreement to acquire a 100% interest in a high potential property in the prolific mining region of Hostotipaquillo, Jalisco, Mexico. The 4,081 hectare high-grade acquisition target concession #239735 named Picachos IV is located a rapidly developing area and is adjacent to producer GoGold Resources Inc.’s (TSX: GGD) OTCQX: GLGDF) Los Ricos South property. The total purchase price of the property was $1,000,000 and the Company is working to acquire additional mining concessions in the area. The Picachos gold project is another prospective high yield asset addition in the Company’s strategic expansion initiative to acquire gold production and increase the AABB’s physical gold holdings.
AABB has now extended its previous due diligence activities on the property into a full development program. The Company will be utilizing the program data gathered to plan and accelerate a drilling program and move forward to production as soon as possible. AABB management and mining operations are exhilarated with the Picachos project for its potential for rapid development, high production and low operating costs.
“The Picachos concession is in an amazing area and a key strategic addition to the Company’s mining property portfolio that will facilitate the growth of our operations and profitability going forward”, expressed Chris Torres, the Company President and CEO.
AABB continues to implement its mining property acquisition strategy to optimize development capital utilization by focusing operations in regions of Mexico where AABB has a comparative advantage of development resources and expertise readily available for rapid expansion and duplication of the Company’s previous gold production success.
About Asia Broadband
Asia Broadband Inc. (OTC: AABB) is a resource company focused on the production of precious metals and the accumulation of physical gold holdings. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate the expansion of precious metals property holdings and production in Mexico. The Company's industry and business integration in Mexico and its asset diversification are unique strengths of AABB that differentiate it from other companies and creates distinctive value for shareholders. Additionally, the Company has a digital assets business segment with its AABBG mine-to-token gold-backed cryptocurrency within its own proprietary AABB Wallet and the unique Golden Baboons Mining Club and Shorts Rascal Club Non-Fungible Token (NFT) collections. AABB expects its token to become a world-wide standard of exchange that is stable, secured and trusted with gold backing, while having the added benefit of demand based price appreciation. These are unique and outstanding qualities relative to other cryptocurrencies and digital asset developers.
Contact the Company at:
General Email:
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.
Fresnillo/Radius Gold: Funding secured to commence drilling at Plata Verde silver project with drilling team mobilized to field
https://thenewswire.com/press-releases/1BQPFGYON-funding-secured-to-commence-drilling-at-plata-verde-silver-project-with-drilling-team-mobilized-to-field.html
March 5, 2024 – TheNewswire - Vancouver, British Columbia – Radius Gold Inc. (TSXV: RDU) (“Radius” or the “Company”) is pleased to announce that Minera San Julian, S.A. de C.V. (“Minera San Julian”), a wholly owned subsidiary of Fresnillo plc (“Fresnillo”) and Geometales del Norte-Geonorte, S.A. de C.V. (“Geonorte”), a wholly owned subsidiary of Radius Gold, have signed an option agreement in order to mobilize field teams and drill equipment to the Plata Verde project. The option agreement replaces the exclusivity agreement signed in July 2022 under which the companies had been co-operating on exploration. The new agreement provides for an initial investment of US$250,000 to mobilize drilling and field teams, and a second investment of US$250,000 will be made on the day the drilling commences, with further funding provided as approved by the technical committee under the terms of the option agreement.
Bruce Smith, Radius Gold President and CEO, commented: “We were pleased to deploy the joint geological team to initiate our maiden drilling program at Plata Verde. This project has many of the qualities that companies look for when assessing the potential to make a discovery. Plata Verde is located in a prolific silver mining district, it has never been drill-tested and has demonstrated significant silver mineralization in surface and underground rock chip sampling, excellent recoveries in metallurgical testing and has a history of bulk-tonnage production. Fresnillo is one of the largest silver producers in the world and has significant expertise in Mexico and the Sierra Madre, and with a joint team to define the exploration program, we have the best chance to make a discovery.”
Plata Verde Project
The Plata Verde project located in Chihuahua, Mexico, was re-discovered by Radius Gold, and is a historic, large-scale, underground, bulk tonnage silver mining operation. Plata Verde is located east of the historic Batopilas silver mining district (1708 to 1920) which reputedly produced over 300 million ounces of silver from high grade veins and structures. In 2022 and 2023, Radius and Fresnillo completed a geophysical, rock channel sampling and metallurgical program, and a new road was constructed to enable access to the property.
Option Agreement Summary
Minera San Julian would spend over a four year period a minimum cumulative amount of US$ 4,762,000 million on exploration activities at the Plata Verde Project.
Minera San Julian would make option payments to Geonorte totaling US$2,825,000, which includes US$825,000 to cover underlying property agreements.
Minera San Julian would have the right to earn a 70% interest in the Plata Verde Project.
If the option is exercised, a new company (NewCo) would be set up to own the Plata Verde Project, Newco would be owned 70% by Minera San Julian and 30% by Geonorte.
Any additional funding required by NewCo would be provided by Minera San Julian and Geonorte in proportion to their respective ownership interests in NewCo.
Should either party’s interest fall below 10% interest in NewCo that interest would convert to a 2% NSR.
Each party will have the right of first refusal to acquire the other party’s shares in NewCo if the other party receives a firm offer for its interest in NewCo that the other party would propose to accept.
Radius Gold Inc.
Radius has a portfolio of projects located in Mexico and Guatemala which it continues to advance, utilizing partnerships where appropriate to retain the Company’s treasury. At the same time, management is seeking out additional investment and project acquisition opportunities across the globe. Radius is a member of the Gold Group of companies, led by Simon Ridgway. You may find more information on Radius Gold at www.radiusgold.com or www.sedarplus.ca.
ON BEHALF OF THE BOARD
Simon Ridgway
Executive Chairman
Symbol: TSXV-RDU
Contact: Bruce Smith
200 Burrard Street, Suite 650
Vancouver, BC V6C 3L6
Tel: 604-801-5432; Toll free 1-888-627-9378; Fax: 604-662-8829
Email: info@goldgroup.com
Website: www.radiusgold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward- looking statements and include, without limitation, statements about the Company’s plans for its properties. Often, but not always, these forward looking statements can be identified by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Company’s stated goals and the planned exploration and development activities at its properties will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.
Tocvan Set to Commence Drilling at Pilar; Signs Long-Term Drill Contract for Sustained Drilling at Pilar and Picacho Gold - Silver Projects
https://www.accesswire.com/837696/tocvan-set-to-commence-drilling-at-pilar-signs-long-term-drill-contract-for-sustained-drilling-at-pilar-and-picacho-gold-silver-projects
Thursday, 29 February 2024 09:00 AM
CALGARY, AB / ACCESSWIRE / February 29, 2024 / Tocvan Ventures Corp. (the "Company") (CSE:TOC)(OTCQB:TCVNF)(FSE:TV3), is pleased to announce reverse circulation (RC) drilling is set to commence at its road accessible Pilar gold-silver project in the mine-friendly State of Sonora, Mexico.
After a year hiatus of drilling to focus on bulk sampling and land consolidation, the Company will now begin systematic drilling for resource definition and additional targeting across the Pilar property. The initial focus will be on infill and step-out targeting within and adjacent to the Pilar Main Zone including where previous drill campaigns successfully discovered the southern extension of the Main Zone, returning 108.6 meters of 0.8 g/t Au, including 9.4 meters of 7.6 g/t Au and 5 g/t Ag.
Sonora is one of the most cost-effective jurisdictions for exploration and development. The Company estimates all-in drill costs to be US$130 per meter which includes drilling, gold and multielement analysis, mobilization, geological and technical support. Assay Laboratory turnaround is currently ranging from 10 to 14 days allowing for rapid reporting and progressive target development. The Company has been working towards a long-term arrangement with a new Sonora-based drill company, Canmex Exploraciones y Servicios (CANMEX). The newly formed CANMEX is made up of management and operators with extensive experience in Sonora including several successful drill campaigns across the Company's Pilar and Picacho projects. Owned and operated by longtime Tocvan supporters Leo Wurtz and Gerardo Martinez, CANMEX has at their disposal three RC rigs, five diamond core rigs and two truck mounted water well rigs. All of this equipment can be utilized by the Company during the next phases of exploration and development. The arrangement allows for cost effective drilling to continue across both projects with a trusted local operator known for drilling excellence and environmental stewardship.
"We are extremely excited to restart drilling at Pilar after a long but necessary hiatus as we evaluated the metallurgical viability of the project and consolidated the area for additional targeting," commented Brodie Sutherland, CEO. "There is no shortage of targets, especially with the immediate extension of mineralization across the expansion area. We are equally excited to lock in a very competitive drill contract with a trusted partner as we shift to more aggressive drilling. The low cost and rapid turnaround of drill results will give us a great advantage as we look to continue to unlock the potential of Pilar and build towards resource definition and the ultimate goal of development."
Figure 1. Pilar Long Section (looking northeast) with key highlight holes across the mineralized system. Interval lengths are drilled thicknesses. Mineralization remains open at depth and along strike with several parallel trends with limited drilling to date.
Drilling Objectives
Resource Infill and Expansion Drilling:
Infill and Step-out Drilling at Pilar Main Zone where 2022 core drilling returned:
116.9-meters of 1.2 g/t Au and 7 g/t Ag in drillhole JES-22-59
108.6-meters of 0.8 g/t Au and 3 g/t Ag in drillhole JES-22-62
Expansion Drilling to the Southeast where past step-out drilling returned:
39.7-meters of 1.0 g/t Au and 2 g/t Ag in drillhole JES-21-50
13.7-meters of 0.6 g/t Au and 13 g/t Ag in drillhole JES-22-63
Expansion Drilling to the north where past drilling returned:
29.0-meters of 0.7 g/t Au and 2 g/t Ag in drillhole JES-21-38
21.0-meters of 38.3 g/t Au and 38 g/t Ag in historic drillhole S-10
Expansion Drilling along the 4-T Trend where past drilling returned:
15.3-meters of 1.1 g/t Au and 2 g/t Ag in drillhole JES-21-53
30.5-meters of 0.4 g/t Au in step out drillhole JES-22-67
Evaluation of New Discoveries and Targets:
Pilar Extension North and Northeast:
Surface sampling returned 3.5 g/t Au and 645 g/t Ag
Placer Mining Corridors
New 3-kilometer corridor with multiple target zones
New Surface Discovery, 2-meters of 5.6 g/t Au and 106 g/t Ag
LiDAR Update
In addition, the LiDAR survey across the entire Pilar area has been completed, final data processing is currently underway with four of six flight sections processed to date. The LiDAR survey will serve as a detailed 3D surface across the greater Pilar property and be utilized for project and development planning.
About the Pilar Property
The Pilar Gold-Silver property has recently returned some of the regions best drill results. Coupled with encouraging gold and silver recovery results from metallurgical test work, Pilar is primed to be a potential near-term producer. Pilar is interpreted as a structurally controlled low-sulphidation epithermal system hosted in andesite rocks. Three primary zones of mineralization have been identified in the north-west part of the property from historic surface work and drilling and are referred to as the Main Zone, North Hill and 4-T. The Main Zone and 4-T trends are open to the southeast and new parallel zones have been recently discovered. Structural features and zones of mineralization within the structures follow an overall NW-SE trend of mineralization. Mineralization extends along a 1.2-km trend, only half of that trend has been drill tested so far. To date, over 23,000 m of drilling has been completed.
Pilar Drill Highlights:
2022 Phase III Diamond Drilling Highlights include (all lengths are drilled thicknesses):
116.9m @ 1.2 g/t Au, including 10.2m @ 12 g/t Au and 23 g/t Ag
108.9m @ 0.8 g/t Au, including 9.4m @ 7.6 g/t Au and 5 g/t Ag
63.4m @ 0.6 g/t Au and 11 g/t Ag, including 29.9m @ 0.9 g/t Au and 18 g/t Ag
2021 Phase II RC Drilling Highlights include (all lengths are drilled thicknesses):
39.7m @ 1.0 g/t Au, including 1.5m @ 14.6 g/t Au
47.7m @ 0.7 g/t Au including 3m @ 5.6 g/t Au and 22 g/t Ag
29m @ 0.7 g/t Au
35.1m @ 0.7 g/t Au
2020 Phase I RC Drilling Highlights include (all lengths are drilled thicknesses):
94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;
41.2m @ 1.1 g/t Au, including 3.1m @ 6.0 g/t Au and 12 g/t Ag ;
24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/t Ag
15,000m of Historic Core & RC drilling. Highlights include:
21.0m @ 38.3 g/t Au and 38 g/t Ag
13.0m @ 9.6 g/t Au
9.0m @ 10.2 g/t Au and 46 g/t Ag
61.0m @ 0.8 g/t Au
Pilar Bulk Sample Summary:
62% Recovery of Gold Achieved Over 46-day Leaching Period
Head Grade Calculated at 1.9 g/t Au and 7 g/t Ag; Extracted Grade Calculated at 1.2 g/t Au and 3 g/t Ag
Bulk Sample Only Included Coarse Fraction of Material (+3/4" to +1/8")
Fine Fraction (-1/8") Indicates Rapid Recovery with Agitated Leach
Agitated Bottle Roll Test Returned Rapid and High Recovery Results: 80% Recovery of Gold and 94% Recovery of Silver after Rapid 24-hour Retention Time
Additional Metallurgical Studies:
Gravity Recovery with Agitated Leach Results of Five Composite Samples Returned
95 to 99% Recovery of Gold
73 to 97% Recovery of Silver
Includes the Recovery of 99% Au and 73% Ag from Drill Core Composite at 120-meter depth.
About Tocvan Ventures Corp.
Tocvan Ventures Overview Video
Tocvan is a well-structured exploration development company. Tocvan was created in order to take advantage of the prolonged downturn in the junior mining exploration sector, by identifying and negotiating interest in opportunities where management feels they can build upon previous success. Tocvan has approximately 43 million shares outstanding and is earning 100% into two exciting opportunities in Sonora, Mexico: the Pilar Gold-Silver project and the Picacho Gold-Silver project. Management feels both projects represent tremendous opportunity to create shareholder value.
Quality Assurance / Quality Control
Samples were shipped for sample preparation to ALS Limited in Hermosillo, Sonora, Mexico and for analysis at the ALS laboratory in North Vancouver. The ALS Hermosillo and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Gold was analyzed using 50-gram nominal weight fire assay with atomic absorption spectroscopy finish. Over limits for gold (>10 g/t), were analyzed using fire assay with a gravimetric finish. Silver and other elements were analyzed using a four-acid digestion with an ICP finish. Over limit analyses for silver (>100 g/t) were re-assayed using an ore-grade four-acid digestion with ICP-AES finish. Control samples comprising certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's robust quality assurance / quality control protocol.
Brodie A. Sutherland, CEO for Tocvan Ventures Corp. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.
Cautionary Statement Regarding Forward-Looking Statements
Neither the Canadian Securities Exchange nor its regulation services provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking information in this news release includes statements regarding the use of proceeds from the Offering. Such forward-looking information is often, but not always, identified by the use of words and phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company's business, the Company's formative stage of development and the Company's financial position. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws.
There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
For more information, please contact:
TOCVAN VENTURES CORP.
Brodie A. Sutherland, CEO
820-1130 West Pender St.
Vancouver, BC V6E 4A4
403-829-9877
bsutherland@tocvan.ca
The Howard Group
Jeff Walker
VP Howard Group Inc.
403-221-0915
jeff@howardgroupinc.com
SOURCE: Tocvan Ventures Corp
Avino Provides Update on Its 100% Owned La Preciosa Property, Preparing for Production
https://www.accesswire.com/837173/avino-provides-update-on-its-100-owned-la-preciosa-property-preparing-for-production
Wednesday, 28 February 2024 06:45 AM
VANCOUVER, BC / ACCESSWIRE / February 28, 2024 / Avino Silver & Gold Mines Ltd. (TSX:ASM)(NYSE American:ASM)(GV6:FSE) is pleased to provide an update on recently completed and ongoing work in connection with La Preciosa, our development stage mineral property which hosts one of the largest undeveloped primary silver resources in Mexico. La Preciosa is located adjacent to Avino's existing operations in Durango, Mexico. The addition of La Preciosa's mineral resource inventory significantly increased Avino's consolidated NI 43-101 mineral resources, which is currently 371 million silver equivalent ounces.
At La Preciosa, capital for 2024 is expected to be between US$3.0 - US$4.0 million and will include surface works and equipment procurement intended for the first phase of mine development for the Gloria and Abundancia Veins. Avino already has the mining equipment necessary to commence operations at La Preciosa.
The application for the Environmental permit has been submitted by the Company to the relevant authorities. A further permit will be submitted shortly after receipt of the Environmental permit, which is required to commence the construction of the portal, haulage ramp, and the mining of the Gloria and Abundancia veins. Avino anticipates receiving these permits sometime in 2024.
The onsite drill core storage and office buildings are in good condition and are solar powered. Avino is committed to operating La Preciosa with a small environmental footprint and at a low cost.
ONGOING WORKS AT LA PRECIOSA AND PREP WORK AT THE AVINO MILL INCLUDE:
La Preciosa - Surface & Site Works
Surface Office building rehabilitation
Extensive sampling of historic surface mineralized stockpiles
Haulage of historic stockpiles to the Avino milling complex
Reinforcing stability of walls at the mine entrance and previously developed areas underground
Avino Mill Processing Works
Rehabilitation of an unused thickener tank in preparation for processing the previously mentioned stockpiles, in one of Avino's 250 TPD circuit's is currently in progress
Once the rehabilitation work on the thickener is complete, production of a silver-gold concentrate from this stockpile material will commence which will be another milestone for the Company
David Wolfin, President and CEO commented "In early January, we announced that a long-term land-use agreement with a local community for the development of La Preciosa had been signed. This was a pivotal achievement and brought us another step closer to our goal of bringing La Preciosa into production. Given all the recent activity at site, we are incredibly pleased to provide this current update on ongoing works at the property."
CSR ONGOING INITIATIVES AND STRATEGY
The Company's local and senior management recently distributed Samsung Tablets and TVs to the local community schools for all age groups
Avino is dedicated to a comprehensive strategy that provides educational resources to students who may otherwise not have those opportunities
Avino is keen to educate a future work force
Dedicated to strengthening relationships in the communities in which we operate
Committed to providing educational tools to the schools
Provide Information, education and support to communities
Videos and photos can be viewed on the Company website by clicking this link
About Avino
Avino is a silver producer from its wholly owned Avino Mine near Durango, Mexico. The Company's silver, gold and copper production remains unhedged. The Company's mission and strategy is to create shareholder value through its focus on profitable organic growth at the historic Avino Property and the strategic acquisition of the adjacent La Preciosa which was finalized in Q1 2022. Avino currently controls mineral resources, as per NI 43-101, with a total mineral content of 371 million silver equivalent ounces, within our district-scale land package. We are committed to managing all business activities in a safe, environmentally responsible, and cost-effective manner, while contributing to the well-being of the communities in which we operate. We encourage you to connect with us on X (formerly Twitter) at @Avino_ASM and on LinkedIn at Avino Silver & Gold Mines. To view the Avino Mine VRIFY tour, please click here.
For Further Information, Please Contact:
Investor Relations
Tel: 604-682-3701
Email: IR@avino.com
Cautionary note to U.S. Investors concerning estimates of Mineral Reserves and Mineral Resources
All reserve and resource estimates reported by Avino were estimated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards. The U.S. Securities and Exchange Commission ("SEC") now recognizes estimates of "measured mineral resources," "indicated mineral resources" and "inferred mineral resources" and uses new definitions of "proven mineral reserves" and "probable mineral reserves" that are substantially similar to the corresponding CIM Definition Standards. However, the CIM Definition Standards differ from the requirements applicable to US domestic issuers. US investors are cautioned not to assume that any "measured mineral resources," "indicated mineral resources," or "inferred mineral resources" that the Issuer reports are or will be economically or legally mineable. Further, "inferred mineral resources" are that part of a mineral resource for which quantity and grade are estimated on the basis of limited geologic evidence and sampling. Mineral resources which are not mineral reserves do not have demonstrated economic viability.
This news release contains "forward-looking information" and "forward-looking statements" (together, the "forward looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995, including the mineral resource estimate for the Company's Avino Property, including La Preciosa, located near Durango in west-central Mexico (the "Avino Property") with an effective date of November 30, 2022, prepared for the Company, and references to Measured, Indicated, Inferred Resources dated October 16, 2023 as well as the Prefeasibility Study dated January 16, 2024 and references to Measured, Indicated Resources, and Proven and Probable Mineral Reserves referred to in this press release. This information and these statements, referred to herein as "forward-looking statements" are made as of the date of this document. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events and include, but are not limited to, statements with respect to: (i) the estimated amount and grade of mineral reserves and mineral resources, including the cut-off grade; (ii) estimates of the capital costs of constructing mine facilities and bringing a mine into production, of operating the mine, of sustaining capital, of strip ratios and the duration of financing payback periods; (iii) the estimated amount of future production, both ore processed and metal recovered and recovery rates; (iv) estimates of operating costs, life of mine costs, net cash flow, net present value (NPV) and economic returns from an operating mine; and (v) the completion of the full Technical Report, including a Preliminary Economic Assessment, and its timing. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "plans", "projects", "estimates", "envisages", "assumes", "intends", "strategy", "goals", "objectives" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements. These forward-looking statements are made as of the date of this news release and the dates of technical reports, as applicable. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. While we have based these forward-looking statements on our expectations about future events as at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. No assurance can be given that the Company's Avino Property, the La Preciosa Property, or the Oxide Tailings Project has the amount of mineral resources or mineral reserves indicated in their reports or that such mineral resources and mineral reserves may be economically extracted. Such factors and assumptions include, among others, the effects of general economic conditions, the price of gold, silver and copper, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations and misjudgments in the course of preparing forward-looking information. In addition, there are known and unknown risk factors which could cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Known risk factors include risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; volatility in the global financial markets; fluctuations in metal prices; title matters; uncertainties and risks related to carrying on business in foreign countries; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain of our officers, directors or promoters with certain other projects; the absence of dividends; currency fluctuations; competition; dilution; the volatility of the our common share price and volume; tax consequences to U.S. investors; and other risks and uncertainties. Although we have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. We are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws. For more detailed information regarding the Company including its risk factors, investors are directed to the Company's Annual Report on Form 40-F and other periodic reports that it files with the U.S. Securities and Exchange Commission.
SOURCE: Avino Silver & Gold Mines Ltd.
Kingsmen Resources Expands Las Coloradas Silver/Gold Project Area
https://www.newsfilecorp.com/release/199592
February 28, 2024 8:30 AM EST | Source: Kingsmen Resources Ltd
Vancouver, British Columbia--(Newsfile Corp. - February 28, 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 Hidalgo 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 completed additional prospecting and sampling in a previously untested area of the project located northeast of the Soledad NW target area. No historic old workings were found in the area and overburden limits exposure (Figure 1). Silver values up to 153 g/t were obtained typically from 0.1 to 4.0 meter wide, NW-trending quartz-calcite structures, veins and breccias that parallel the Soledad and Soledad II structures, and their subsidiaries. In aggregate, the belt of NW-trending structures plus the Soledad and Soledad II structures is at least 1,500 meters wide and the presence of anomalous silver values in the major and minor structures demonstrates the prospectivity of the belt. Preliminary interpretation of ground magnetics indicates the presence of several important major structures as indicated by magnetic linears. Pathfinder element concentrations occurring in variable combinations in the areas of interest include Cu, Pb, Zn, As, Bi, Sb and Mo. The different combinations of pathfinder elements likely represent different stages or pulses of mineralization.
The belt of NW-trending structures intercepts a newly recognized 2,500 meter long zone of NE-trending structures near the area of highly anomalous silver values at the NW-end of the Soledad II structure. This complex structural zone is located in an area of strong magnetics possibly representing a buried intrusive with skarn potential.
Scott Emerson, President commented: We are continuing the field program with the aid of integration and interpretation of the ground magnetic data to better understand the structural controls on the silver mineralization which are presenting new areas for exploration which have not been explored before.
Figure 1
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9640/199592_31ff491784843b2b_003full.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 (American Smelting and Refining Company), the U.S. based subsidiary of Grupo Mexico.
Las Coloradas is in the Parral mining district of the Central Mexican Silver Belt, and is located approximately 30 kilometers southeast of the city of Hidalgo de Parral and 40 kilometers east of the San Francisco de Oro and Santa Barbara mining districts where several 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) and is headquartered in Vancouver, British Columbia.
On behalf of the Board, Signed:
"Scott Emerson"
Scott Emerson,
President & CEO Phone: 6046859316
Email: se@kingsmenresources.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement:
All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding the completion of the acquisition of the Las Coloradas Project and receipt of regulatory approval, are forward-looking statements. Although Kingsmen believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Kingsmen can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in Kingsmen's periodic filings with Canadian securities regulators, and assumptions made with regard to: Kingsmen's ability to make the required payments under the definitive agreements; and Kingsmen's ability to secure the necessary regulatory approvals. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Kingsmen's expectations include risks associated with the business of Kingsmen; risks related to the satisfaction or waiver of certain conditions to the closing of the acquisition of the Las Coloradas Project; non-completion of the acquisition of the Las Coloradas Project; risks related to exploration and potential development of the Las Coloradas Project; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in Kingsmen's filings with Canadian securities regulators on SEDAR in Canada (available at (www.sedarplus.ca). Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Kingsmen does not undertake any obligation to update forward looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements
SOURCE: Kingsmen Resources Ltd
Starcore Announces Third Quarter Production Results
https://www.newsfilecorp.com/release/199397
February 26, 2024 7:01 PM EST | Source: Starcore International Mines Ltd. Vancouver, British Columbia--(Newsfile Corp. - February 26, 2024) - Starcore International Mines Ltd. (TSX: SAM) (
Torex Gold Reports Additional Impressive Drilling Results from ELG Underground
2023 program builds on past success to prove the long-term reserve and resource potential at ELG
https://www.newsfilecorp.com/release/198062
February 26, 2024 7:00 AM EST | Source: Torex Gold Resources Inc.
Toronto, Ontario--(Newsfile Corp. - February 26, 2024) - Torex Gold Resources Inc. (the "Company" or "Torex") (TSX: TXG)
Silver Bull Provides Update on Its Arbitration Claim Against Mexico
https://ca.finance.yahoo.com/news/silver-bull-provides-arbitration-claim-110000405.html
Silver Bull Resources, Inc.
Tue, February 27, 2024 at 3:00 a.m. PST·1 min read
SVBL
+2.16%
VANCOUVER, British Columbia, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Silver Bull Resources, Inc. (“Silver Bull” or the “Company”) provides an update on progress with its international arbitration claim against the United Mexican States (“Mexico”).
Since our previous update on September 26, 2023, a number of important steps have been achieved in the arbitration process. These include:
The appointment of a three-person arbitration panel (the “Tribunal”) by the International Centre for Settlement of Investment Disputes (“ICSID”). The Tribunal convened its first session with the parties on February 13, 2024.
Engagement of a quantum expert by the Company to assess the Company’s claim. The evaluation is underway and will serve as the foundation for determining the value of Silver Bull’s claim against Mexico.
Establishment of a definitive timeline agreed upon by both parties and the ICSID Tribunal. Silver Bull anticipates filing its Memorial in May 2024, with the Arbitration hearing slated for October 2025.
The Company and its legal representatives at Boies Schiller Flexner continue to prepare the case. Document analysis and interviews with pertinent personnel are progressing as scheduled.
For background on the basis for the arbitration and ongoing updates with respect to the arbitration, please refer to the Company’s website www.silverbullresources.com/news.
Regarding the arbitration proceedings, Silver Bull is being represented by the global law firm, Boies Schiller Flexner, and is financially supported by Bench Walk Advisors via a Litigation Funding Agreement for up to US$9.5 million to finance the case.
On behalf of the Board of Directors
“Tim Barry”
Tim Barry, CPAusIMM
Chief Executive Officer and Director
INVESTOR RELATIONS:
1 604 687 5800 info@silverbullresources.com
Cautionary note regarding forward looking statements: This news release may contain certain information that is forward-looking and is subject to important risks and uncertainties (such statements include statements regarding the final approval of the Private Placement by the Exchange and other statements implying a future state which are usually accompanied by words such as "anticipate", "expect", "believe", "may", "will", "should", "estimate", "intend" or other similar words). Any forward-looking statements in this document are intended to provide Silver Bull security holders and potential investors with information regarding Silver Bull, including management's assessment of Silver Bull’s future plans and financial outlook. Any forward-looking statements reflect Silver Bull's beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. As actual results could vary significantly from the forward-looking information, you should not put undue reliance on forward-looking information and should not use future-oriented information or financial outlooks for anything other than their intended purpose. There is no guarantee that the Company will be successful in obtaining Exchange approval in respect of the Private Placement, that any investors shall invest in the Private Placement on the terms outlined herein or at all. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the Company’s filings under Silver Bull’s profile on SEDAR+ at www.sedarplus.ca and with the U.S. Securities and Exchange Commission at www.sec.gov. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements. Any forward-looking statement made by us in this news release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
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)
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#msg-15860981 AAU American Gold Capital Corp #msg-19586830 AGI Alamos Gold http://www.alamosgold.com/s/Home.asp #msg-12563691 AGQ Arian Silver Corp http://www.ariansilver.com/s/home.asp #msg-15905054 AMM Almaden http://www.almadenminerals.com/ #msg- AQI Aquiline Resources http://www.aquilineresources.com/ #msg-15058851 ASM Avino Silver & Gold http://www.avino.com/ #msg-12596747 AUN Aurcana http://www.aurcana.com/ #msg-13080008 AUX Auramex http://www.auramex.com/ #msg-19586554 AZG http://www.azteca-au.com/ #msg-19595950 BAJ Baja Mining http://www.bajamining.com/ #msg-12567281 BGL Bandera Gold Ltd. http://www.banderagold.com/ #msg- CDB Cloudbreak #msg- CDU Cardero http://www.cardero.com/ #msg-16259084 CBI Colibri Resources #msg-18029391 CCM Canarc #msg- CGE Corex Gold http://www.corexgold.com/ #msg-12442548 CKG Chesapeake Gold http://www.chesapeakegold.com/ #msg-15904953 CLZ Canasil Resources http://www.canasil.com/ #msg- CMA Cream Minerals http://www.creamminerals.com/ #msg- CMF 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