Taj Singh, P.Eng, President & CEO states, The third and final batch of channel samples from our detailed mapping and sampling program at Zaragoza were impressive, and continue to increase our confidence in the tenor and scale of carbonate replacement mineralization at Puerto Rico. The results will be instrumental in understanding the system locally at Zaragoza and regionally at the Project. In addition, the results will help develop targets for our maiden drill program at the Project, planned for Q3. We look forward to receiving results from the San Jose and Puerto Rico mines in short order, both of which possess a larger footprint and vertical extent than Zaragoza.
Exploration work is being funded under an option to joint venture agreement by Centerra Gold Inc. Originally, the core drilling program was to consist of 1,650 meters in seven holes with further drilling contingent upon results. After a recent review, Centerra has authorized a drilling program extension. The complete program will now consist of approximately 2,900 meters in 17 holes.
Riversides President and CEO, John-Mark Staude, stated: We are pleased with the recent sampling results at La Silla and are developing a stronger understanding of the gold and silver mineralization and their controls. The Ciruelo and El Roble veins show extensive strike and we are working to define high quality drill targets. Riverside is in discussions with prospective partners and will continue further exploration work as the Company evaluates its options for forwarding the project.
President Lawrence Page Q.C. stated, "this opportunity to acquire an option to purchase this property on favorable terms came about through relations developed over the past several years of doing business in Mexico. The Los Reyes property satisfies all the elements required to develop a property into production such as deal terms, infrastructure, favorable political climate and historic values. These factors may well lead to success through exploration to be commenced upon permit approval expected in approximately three months. Addition of this property to our portfolio of the Swift-Katie copper gold property in B.C. and the Weepah gold property in Nevada, both of which are permitted for drilling, allows us to expand our scope of operations into three miner-friendly jurisdictions."
"The acquisition of the Guadalupe gold project late last year was another strategic addition to the Company's developing production profile", said Darren Koningen, CEO of Minera Alamos. "A significant amount of time and effort was expended by the previous owners to re-establish the project as one of the premium advanced stage gold assets in this region of Mexico... "
We are excited to have identified a massive target at depth that is coincident with our recently identified IP anomaly.By employing both IP and revolutionary technologies such as Atomic Electron Resonance Imaging (AERI), we have begun identifying targets along the un-mined 4.4km extension of the Veta Grande vein. In addition, the use of these technologies allows us to more cost effectively drill the vein, stated Peter J. Hawley, President and CEO. We anticipate drilling the anomaly in the near future as the size and depth of the anomaly have the potential to be a game changer for Defiance.
Igor Gonzales, President and CEO of Sierra Metals commented: "The Company is very encouraged by the results of this PEA as they support the plan to profitably develop and grow the Cusi Mine in sustainable and staged steps from 650 TPD currently, to 1,200 TPD by Q1 2019, and further, to 2,700 TPD in 2021 based on consensus metal pricing.
Evrim's President and CEO, Paddy Nicol, commented, "Sarape is located in an emerging epithermal gold belt hosting several mines and deposits, including Premier Gold's Mercedes Mine, First Majestic Silver's Santa Elena Mine, and SilverCrest's Las Chispas deposit. Evrim's Ermitaño project, under option to First Majestic Silver, is also in the belt where a maiden inferred resource of 40.8 million ounces silver equivalent* (562,000 ounces gold equivalent) was recently announced (see First Majestic Silver news release of March 29, 2018). We look forward to working with Coeur's team on Sarape and will commence exploration in late June."