Argonaut Gold Inc. (TSX: AR) informó que el tribunal pospuso la audiencia relativa al permiso explosivo de Argonaut en su La Mina Colorada para permitir a la Secretaría de la Defensa Nacional (SEDENA) presentar las pruebas solicitadas por el tribunal respecto de la suspensión temporal del permiso de explosivos en la mina La Colorada de Argonaut. Se espera que el fallo se emita dentro de los 15 días hábiles posteriores a la fecha de la audiencia original (16 de abril de 2018), tal como lo exige la ley.
Marcio Fonseca, Goldplay's Chief Executive Officer, stated, "Located only 30 km from the Company's El Habal Project, the addition of San Marcial to our portfolio in the Rosario Mining District is an excellent complement to our strategy of consolidating a highly prospective 100% owned portfolio in a world class district. We are delighted with this opportunity and the addition of SSR Mining as a shareholder. The near surface high grade historical resource allied with preliminary historical metallurgical data encourages the Company to continue exploration aiming to expand the resource along the 3.5 km trend. The historical exploration results delineating 14 targets for precious metals explorations represent an upside exploration potential in San Marcial for future discoveries. The Company looks forward to advancing exploration programs at San Marcial".
Brian Robertson, President and CEO, commented: These initial high-grade sample results exceeded our expectations and further confirm historical reports on the high-grade vein structures at Pueblo Nuevo. We continue to discover more historical workings with our extensive on-going field exploration program.
José Antonio Berlanga , CEO and Director, states: "As we near the end of the El Largo Zone development phase in preparation of initiating bulk mining methods within the next few weeks, we have been improving efficiencies at the mill resulting in successfully increasing zinc concentrate grades to an average of 43.54% zinc and lead concentrate grades to an average of 34.88% lead during the first two weeks of April 2018 . During this same two-week period, we have achieved improved zinc metal recoveries averaging 72.7% zinc into the zinc concentrates. As soon as we initiate the bulk mining methods, within the next several weeks, the mine will be able to deliver a more consistent mineralized mill feed, without excess dilution of mining development material from various areas within the large El Largo Zone . Processing mineralized mill feed of more consistent grade and quality, containing less dilution, should allow us to further improve concentrate grades and recoveries. In addition, bulk mining methods will allow us to ramp up pre-production towards the 2,500 t/d capacity of the mill and further reduce direct site costs of approximately US $48.5 per tonne. These current direct site costs are approximately 33% lower than the estimated direct site costs of US $72.26 per tonne used for the same categories in our recently published independent Preliminary Economic Assessment.
N. Eric Fier, CPG, P.Eng and CEO, remarked, With the addition of the Luigi Vein, we continue to grow our portfolio of high-grade mineralized veins and are beginning to understand the nature of multiples when it comes to projecting high-grade previous drill-intercepts in adjacent veins on to new discoveries. This is the tenth high-grade vein we have delineated in the district, which is immediately adjacent to the Las Chispas Vein and accessible by underground workings. The Luigi Vein is named after Luigi Pedrazzini, son of Giovanni Pedrazzini the founder of Minas Pedrazzini Gold and Silver Mining Company which operated at the Property from the late 1800s to 1930. We plan to further drill test the Luigi Vein during H1 2018 and include the results in the proposed updated resources in Q3 2018.
Argonaut Gold Inc. (TSX: AR) reports that the has court postponed the hearing pertaining to Argonauts explosive permit at its La Colorada mine (see press release dated April 12, 2018) to allow the Secretary of National Defense (SEDENA) to provide evidence requested by the court regarding the temporary suspension of the explosives permit at Argonauts La Colorada mine. It is expected that a ruling will be issued within 15 business days of the original hearing date (April 16, 2018), as required by law.
Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: "This is our second project near Ojocaliente. Venaditas is approximately 11km to the west of our Tabasquena silver mine. It is also a 'shadows of a headframe project' as it is adjacent to Teck's San Nicholas. Also, in the immediate area is Milagros and El Coronel mines, all of the mines in the area are hosted in the Tertiary andesites. What stands out to me about Venaditas, is twofold, there are two geological structures that come together at Venaditas, below this structural intersection is a large geophysical anomaly. This project is close to being drill ready and we should have updates shortly on drilling this high quality exploration project."
Colibri Resource Corporation (CBI: TSX-V) is pleased to provide an update on its Phase 1 drilling of its 2018 drilling program on its 100% owned Pilar Project in Sonora State Mexico and announces that it has completed drilling of 5 of the approximately 30 hole drill program. To date, 266 samples have been sent to ALS labs for assaying.