Month: August 2012

MAG Silver Corp. is pleased to announce that the board of directors of Minera Juanicipio S.A. de C.V., (owned 44% by MAG / 56% by Fresnillo plc), has approved a mine permitting and underground development budget of US$25 million. The 18 month (2012 -2013) budget includes the first 2,500 metres of underground development. The Joint Venture has begun the permitting process and anticipates receipt of all necessary permits by the end of 2012. The underground decline ground breaking is expected in early January 2013 (Q1) pending receipt of all permits.

Yale Resources Ltd. is pleased to report it has mobilized a field crew to the 7,979.31 hectare (79.8 km2 ) Orofino Property, located in Sonora State, Mexico, to initiate work on the property as part of an ongoing field program to be conducted on behalf of Overlord Capital Ltd.

First Majestic Silver Corp. is pleased to announce that the Company has been recognized with three awards reflecting the Company’s continuous efforts with respect to our corporate citizenship practices as a socially responsible company.

Garibaldi Resources Corp. reports that it continues to intercept significant widths of mineralization (see news release of April 24, 2012) at the ongoing Locust drill program, located at the Company’s 100% owned Tonichi project in Sonora State, Mexico. To date, 5 diamond drill holes have been completed using the Company’s NQ diamond drill, for a total of 1180.8 meters drilled, with an additional hole in progress. An additional 50 to 70 meters will be added on hole number 6 before starting hole number 7. Hole LCT-12-5 has encountered gold mineralization of 0.33 g/t Au over 63.85 meters and hole LCT-12-6 encountered 24.5 meters of 0.45 g/t Au. Assay results from all holes are summarized in the table below. Note that data from some holes was previously released but is included here for completeness.

Southern Silver Exploration Corp. reported today that drilling on the Cerro Las Minitas project, located in Durango State, Mexico, has extended the depth projection of high-grade silver-polymetallic mineralization in the Blind Zone deposit.

El Tigre Silver Corp. Wednesday provided a mid-year summary of its exploration and development activities at its El Tigre silver project in Sonora, Mexico.