Aurcana Corporation is pleased to report a 54% increase in silver production from the La Negra mine for Q3 2012 of 376,687 ounces compared to 244,243 ounces in Q3 2011, making it the largest quarter for silver production in Aurcana’s history.
Source Exploration Corp. is pleased to report that step-out drilling at the Santa Cruz target at the Las Minas project in Mexico has intersected high-grade mineralization along-strike from that previously discovered in hole LM-11-SC-45, within the larger halo of copper-gold mineralization at Las Minas. As previously reported, hole LM-SC-45 returned an intercept of 15.89 grams per tonne gold (g/t Au) 12.98 grams per tonne silver (g/t Ag) and 2.25 percent copper (% Cu) over 10.0 metres. Step-out drilling has returned significant gold values as well as some of the highest grade silver and copper intercepts recorded to date. The higher grade mineralization appears to be closely associated with skarn-type alteration with high magnetite content ranging up to 90% by volume. A detailed magnetic geophysical survey has been initiated in an effort to better define future drill targets.
McEwen Mining Inc. is pleased to announce Third Quarter production results and the discovery of a new vein system at the San José mine (49%) in Argentina. The San José mine had another solid quarter of production and El Gallo Phase I (100%) in Mexico achieved its first gold pour. Third Quarter production totaled 10,572 ounces gold and 760,670 ounces silver, representing 25,200 gold and gold equivalent ounces1. The Company remains on track to produce approximately 105,000 gold and gold equivalent ounces in 2012. Production costs will be announced with the Third Quarter financial results, which will be released in early November.
Sundance Minerals Ltd. announced today the initiation of Phase 1 drilling at the San Ricardo Gold Project located within the prolific porphyry and epithermal gold-silver-copper belt of northern Sonora State, Mexico. The program consists of approximately 800 meters of diamond drilling in the Santa Cruz Target, one of the multiple targets within Sundance’s 38,100 hectares property. The drilling will be carried out by Falcon Perforaciones of Hermosillo, Mexico under the supervision of Sundance geologists.
Prospero Silver Corp. is pleased to announce that it has acquired by staking the 6,000 hectare El Petate project located 30km northwest of the historic Pachuca-Real del Monte mining district. This new project acquisition is part of a systematic exploration program in the Mexican Altiplano and reflects Prospero’s strategy of creating value as a Mexico-focused project generator. El Petate will be added to the Company’s portfolio of 100% owned projects available for joint venture.
Gold Resource Corporation today announced that Mr. Jesus Rivera has been appointed General Manager of the Oaxaca Mining Unit, which is responsible for the Companys El Aguila Project in Oaxaca, Mexico. Mr. Rivera is replacing Mr. Juan Manuel Flores, who has decided to pursue other interests. Gold Resource Corporation is a low-cost gold producer with operations in southern Mexico. The Company has returned over $63 million to shareholders in monthly dividends since declaring commercial production July 1, 2010 and is the first Company offering shareholders the option to convert their cash dividends into physical gold or silver.
Oremex Gold Inc. announces that an interested third party in Mexico is alleging ownership of two concessions totaling 78.9 hectares in the Melchor Ocampo gold mining district, Zacatecas state, Mexico, comprising the Company’s Cerro del Oro (Gold Hill) project. Acquisition of the Cerro del Oro concessions by the Company’s wholly-owned subsidiary, Minera Tres Diamantes, S. de R.L. de C.V., from Minera Mantos, S. de R.L. de C.V., a wholly-owned subsidiary of Oremex Silver, Inc., was previously announced on February 23, 2012. Prior to acquisition by the Company, the Cerro del Oro concessions had been subject to a court process to determine the legal owner of the property. The concessions were acquired by the Company only after it had been advised that the legal ownership matter had been favorably resolved and the final court decision in the process was non-appealable.
Gold Resource Corporation reported its preliminary production results for the third quarter ended September 30, 2012 of approximately 22,300 ounces precious metal gold equivalent (AuEq calculated at a 55:1 price ratio). Gold Resource Corporation is a low-cost gold producer with operations in the southern state of Oaxaca, Mexico. The Company has returned over $63 million to shareholders in monthly dividends since declaring commercial production July 1, 2010 and is the first Company offering shareholders the option to convert their cash dividends into physical gold or silver.
Octavio Alvidrez, Chief Executive Officer, said: ‘The Group’s performance over the period demonstrates our commitment to maximise sustainable growth through the continued ramp up of Saucito and the new Noche Buena mine.
AuRico Gold Inc. today announced that it has sold its approximate 11.1% equity interest in Endeavour Silver Corp. consisting of approximately 11 million Endeavour common shares, on an underwritten block trade basis, for gross proceeds of C$95 million (approximately US$97 million). The syndicate was jointly led by CIBC, BMO Capital Markets and Dundee Securities Ltd.
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