Base Case Study Shows an Internal Rate of Return of 19.5 % Before Tax and 14.8 % After Tax;
Estimates Recovery of 131 Million Ounces of Silver and 190 Thousand Ounces of Gold, 1.4 Billion Pounds of Zinc and 1.0 Billion Pounds of Lead in the Near Surface 30 Percent of the Cordero Resource
Azure Minerals has recommenced diamond drilling at its wholly owned El Tecolote Project in Mexico with an increased exploration budget from its joint venture partner, Japanese Government organisation Japan Oil, Gas and Metals National Corporation (JOGMEC).
On Jan. 24, 2012 First Majestic Silver Corp. (AG) announced the inauguration of the new La Parrilla floatation/cyanidation plant in the State of Durango, Mexico on Jan. 18. The new plant has a total capacity of 2,000 tpd (1,000 tpd in the flotation circuit and 1,000 tpd in the cyanidation circuit). It is expected to be operating at full capacity in February 2012. It is currently operating at 1,500 tpd. Once completed, annual production from La Parrilla mine is estimated to be approximately 3.0 million ounces of pure silver, 6.0 million pounds of lead, and 4.3 million pounds of zinc. AG is now set to grow EPS by 73.10% in 2012. This is great news for investors, and it should provide a springboard for AG’s stock price to move significantly upward.
Newstrike Capital Inc TSXV:NES announced assays from its Ana Paula project in Mexico. Results include
0.88 g/t gold over 14.3 metres
0.56 g/t over 36.6 metres (including 1.5 g/t over 7.3 metres)
0.75 g/t over 46 metres (including 1.27 g/t over 14 metres)
1.54 g/t over 73 metres
0.63 g/t over 54.3 metres (including 1.21 g/t over 12.3 metres)
0.67 g/t over 27.4 metres (including 1.58 g/t over 6.2 metres)
El Tigre Silver Corp. is pleased to announce that it has closed the second and final tranche of its previously announced non-brokered private placement. The Company closed the first tranche of the Private Placement on December 30, 2011. Aggregate gross proceeds from both the first and second tranches total $1,116,000. The final tranche consists of 1,528,000 units of the Company for aggregate gross proceeds of $382,000. Each Unit consists of common share of the Company and one-half of a common share purchase warrant. Each whole Warrant entitles the holder to acquire an additional common share of the Company for a period of 2 years from the date of issue at a price of $0.40 per share.
Sonora Resources Corp., a mineral exploration and development Company focused on the acquisition of international silver and gold mining properties, is pleased to announce the results from its ongoing surface program of measuring and sampling of the extensive historic surface dumps at the Ayones Project undertaken November 8-13, 2011.
Scorpio Mining Corporation is pleased to report that the 2011 production results for the Nuestra Señora mine in Mexico confirm a second successive year of silver production growth for the Corporation. Production of all key metals increased substantially over 2010, as mine metal output, plant throughput and recoveries improved.
Westridge Resources Inc. is pleased to announce that it has received final approval from the TSX Venture Exchange of the option agreement entered into by its wholly-owned subsidiary, Minera Westridge S.A. de C.V. with Musgrove Minerals Corp. and its wholly-owned subsidiary, Minerales Jazz S.A. de C.V., pursuant to which Minera has been granted the option to acquire up to a 100% interest in an to certain mineral concessions in the United Mexican States known as the Charay Project.
JOGMEC increases El Tecolote 2011/12 Exploration Budget to US$2.27 million
Drilling program increased to 4,000 metres
Second drill rig mobilised
Mineral exploration company, Evrim Resources has released the first assay results from the drill program, which is being conducted at the Suaqui Verde project located in Sonora, Mexico.
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