SOURCE EXPLORATION CORP. is pleased to announce the commencement of a diamond drill program for the Las Minas gold - silver - copper project located at Veracruz, State, Mexico. The program will include an initial 2,000 to 3,000 metres of infill and step-out diamond drilling at the El Dorado - Juan Bran mineralized zone, with the objective of expanding the zone and completing a maiden NI 43-101 resource estimate in early 2017.
Jim Williams, Chief Executive Officer of Arian Silver commented: “We remain excited by the prospects of our existing portfolio of silver projects in Mexico and are committed to assessing the viability of their development. We are also keen to reach a definitive conclusion on the advancement of the Noche Buena tailings project as soon as possible once we have received the final test results. Meanwhile, we are working to identify new opportunities which we believe would add shareholder value, and we shall report on further progress in due course.”
"With our corporate strategic focus being concentrated on our two producing projects, Veta Grande and Rosario, the El Gachi Property became a non-core asset in our mineral property portfolio." stated Arturo Préstamo, President and CEO of Santacruz. "As such we are pleased to enter this transaction with First Majestic which allows us to monetize our investment, pay down debt, and provide additional working capital for our core operations."
Pete Dougherty, President & CEO commented: “We are excited to have entered into an agreement that is beneficial to both parties. We will now be able to mine the remaining mineralization on our side of the concession boundary as we move the pit wall back onto the San Juan Concession. This, coupled with the known mineralization on the San Juan Concession, allows us the opportunity to expand the pit even farther. We have increased our footprint in the area threefold going from approximately 200 hectares to over 620 hectares. We believe this is a very strategic acquisition, as it means El Castillo has the potential to be an important part of our future production.”
Timmins Gold CEO, Greg McCunn, states “After joining the Company earlier this month, I am very encouraged by the progress that has been made at Ana Paula. The results from the infill drilling are validating the previous drilling campaigns and increasing the confidence and robustness of the resource model and our understanding of the lithological domains in the deposit. Metallurgical test work has significantly improved upon the work done in the PEA and validated the suitability of the 6,000 tpd plant that we purchased last year and currently have in storage awaiting the start of construction. It is our intention to provide an interim update on the robust Project economics in the form of a Pre-Feasibility Study (PFS) in Q2 2017, with the full Definitive Feasibility Study (DFS) to be completed by Q1 2018.”
Prospero Silver Corp is pleased to announce that it has completed additional sampling and mapping at the Bermudez project in Chihuahua State, Mexico. The project is located 17km from the town of Yecora and close to the Sonora State boundary. Prospero has completed mapping and sampling over 4.5km strike length of outcropping high-level banded, low-sulphidation veins at Bermudez. A preliminary diamond drill program has been designed to test the three zones. The Bermudez project is available for joint venture and Prospero will be looking for a partner in the coming months.