High Desert Gold Corporation (“HDG” or the “Company”) (TSX VENTURE:HDG)(OTCQX:HDGCF) announces that it proposes to issue, on a brokered private placement basis, up to 11,111,000 units (“Units”) at $0.225 per Unit for gross cash proceeds up to approximately $2.5 million (the “Private Placement”).
Source Exploration Corp. reported today that drilling at its Las Minas project has intersected high-grade gold, silver and copper mineralization and extended the mineralized skarn zone by a further 125 metres on strike for a total known strike length of approximately 840 metres.
VANCOUVER, Jan. 26, 2012 — /PRNewswire/ – Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) (BVL: FVI) is pleased to announce 2011 production figures from the San Jose Mine located in Mexico and the Caylloma Mine located in Peru. The mining operations of the Company performed strongly in 2011 delivering our fifth consecutive year of silver production growth and sustained low cash cost per silver ounce. For 2012, Fortuna is scheduled to produce 3.7 million ounces of silver and 17,400 ounces of gold production or 4.6 million Ag Eq ounces plus base metal credits.
Capstone Mining Corp. (TSX: CS) today provided its production guidance for 2012 for its two operating mines, Cozamin and Minto, and company-wide capital expenditure guidance. Capstone expects to produce 80 million pounds +/- 5% of copper in concentrates at a total cash cost(1) of US$1.55 to US$1.65 per pound of payable copper, net of by-product credits and selling costs.
Canasil Resources Inc. announces that MAG Silver Corp. has completed three drill holes to date at the La Esperanza silver project in Durango and Zacatecas States, Mexico, and all three holes have intersected quartz vein and quartz vein breccia. Visible base metal sulphides have been noted. A fourth hole is in progress as part of a planned 4,000 metre drill plan for 2012. Assay results for these intercepts have not been received and will be announced when available.
Oroco Resource Corp. reports that it has reached important milestones in advancing its Cerro Prieto gold and silver project toward production.
Santa Fe Metals Corp. is pleased to announce assay results on channel and grab samples taken from and the Santa Anita Gold Dyke system on its Cuyoaco property in Puebla state, Mexico.
Kimber Resources Inc. is pleased to announce ongoing drill results from an additional 14 drill holes at its Monterde gold/silver project in Mexico, including eight holes drilled at Carmen and six holes drilled at Veta Minitas. Of particular interest is drill hole MTC-142A, which intersected a new structure containing 7 metres of 18.3 g/t gold and 374.3 g/t silver. This wide and high-grade gold-silver intersection is located northeast of other known structures in the Carmen deposit and is believed to be a parallel or semi-parallel structure to the current structures that make up the Carmen deposit. The new structure has been named “Cocos” and is geologically different from the other structures at Carmen being characterized by bright white quartz and quartz breccia, not the silicification seen in other gold-silver mineralized structures at Carmen. In addition, from the review of Cocos core samples, the base metal sulphides occur as thin veinlets and are finer grained than the sulphides encountered in the Carmen structure in hole MTRD-476 (which intersected 4.9 metres of 78.4 g/t gold and 127.9 g/t silver, as announced May 31, 2011). Also significant is hole MTRD-512 which intersected 8.6 g/t gold and 326.2 g/t silver over 5m in the footwall of the Cob structure.
Dia Bras Exploration Inc., a Canadian listed mining company focused on precious and base metals in Peru and Mexico, today announced the appointment of Mr. Steven G. Dean as Chairman and Mr. Alberto Arias as Vice-Chairman of its Board of Directors. Mr. Dean and Mr. Arias are both current members of the Company’s Board. These appointments follow the resignation of Mr. Philip Renaud as Chairman. Mr. Renaud was Chairman of the Company since November 23, 2009.
TORONTO, Ontario, January 26, 2012 — Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) announced today its financial results for the year ended October 31, 2011.
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