Month: September 2014

Santacruz Silver Announces US$28.4M Silver Prepay Agreement

Santacruz Silver Mining Ltd. is pleased to announce that it has entered into a US$28.4 million Pre-paid Silver Purchase Agreement with JMET, LLC to sell 4,635,000 ounces of silver through August 2019, subject to certain adjustments relating to metal prices. In addition to US$ 28.4 million that will be paid to the Company up front upon satisfaction of certain conditions, at the time of each delivery the Company will receive an amount per ounce of silver equal to the market price at the time, less a fixed discount. It is anticipated that the upfront payment will be advanced within the next two weeks. Under the agreement, the Company maintains the upside on the silver price.

Mammoth Submits Application for Drill Permit at its Tenoriba Property, Mexico and Closes First Tranche of Private Placement Financing

Mammoth Resources Corp. is pleased to announce that it has submitted its permit application to drill its Tenoriba precious metal property located in southwestern Chihuahua state, Mexico (click here for a detailed location map). The application is for permission to drill up to 20 drill holes under an “Informe Preventivo” or “Aviso de Inicio de Actividades de Proyectos de Exploracion Minera Directa” (NOM-120-ECOL-1997) and was submitted to the SEMARNAT (Secretariaria de Medio Ambiente y Recursos Naturales) office in Chihuahua, Mexico. It may require up to 30 business days to review and receive comments, or approve the company’s application. Once the company has received approval and subject to financing, it intends to initiate access road and drill pad construction and repair as a preliminary step to drilling. Quotes have been received from seven drill contractors on 11 different drill rig (reverse circulation or core) services with all-in estimated costs (drilling, sample analysis, travel, accommodations and labour) as low as US $320,000.

Mine spill devastates Mexican farmers

Liseth Mendez and Judas Barrios milk two cows covered in a cloud of tiny persistent flies as the sun taints in red the surrounding mountains near a ranch less than a kilometre from the Sonora River.

Grupo México: detrás de una crisis

Cuando el pasado 6 de agosto sobrevino el derrame de 40 mil metros cúbicos de sulfato de cobre acidulado en los ríos Sonora y Bacanuchi, iniciaba una de las vencidas más fuertes del presidente Enrique Peña Nieto con el dueño de una de las dos fuerzas económicas más poderosas del país, Germán Larrea, de Grupo México.

Oceanus Drills 10.5 Meters of 7.4 gpt Gold at Santo Nino in Mexico

Oceanus Resources Corporation is pleased to announce assay results from the recently completed drilling program at the La Lajita property in Durango, Mexico. The program consisted of twenty-one holes totaling 3,002.5 meters of PQ triple tube core (PQ3) diamond drill core at the Santo Nino and Dos Hermanos Prospects.

Aura Silver Explores Around Silver Zone on East Taviche Property, Mexico and Provides an Update on Greyhound, NU

Aura Silver Resources Inc. is pleased to provide an update on recent activities on its East Taviche property in Oaxaca State, Mexico and its Greyhound property in Nunavut, Canada. These activities include exploration and reconnaissance work recently initiated on East Taviche, as well as an initial drill program by Aura Silver’s option agreement partner Agnico Eagle Mines Limited at Greyhound.

Gold Potential for Cascada Upgrade

Azure Minerals Limited is pleased to report that it has received final assays for all holes from the recently completed exploration drilling program at the Company’s 100%-owned Cascada deposit.

Catalyst Copper Announces Closing of Non-Brokered Private Placement and Appointment of Officers

Catalyst Copper Corp. announces that further to its news release dated August 29, 2014, it has closed its non-brokered private placement of 2,100,000 units at a price of $0.30 per unit for gross proceeds of $630,000. Each unit consists of one common share and one full common share purchase warrant. Each whole common share purchase warrant will be exercisable at $0.40 per common share until September 15, 2017. The securities issued in connection with this private placement are subject to a four month statutory hold period expiring on January 16, 2015. Proceeds will be used for general working capital and to explore other potential opportunities.

Arian Silver Corporation: Significant Progress at San José Processing Plant

Arian Silver Corporation, a silver exploration, development and production company with a focus on projects in the silver belt of Zacatecas, Mexico, reports that it continues to make excellent progress on the refurbishment and reassembly of the processing plant at the Company’s San José project site.

Grupo México deposita 500 millones para atender el derrame al río Sonora

La mañana de este lunes, Grupo México depositará los primeros 500 millones de pesos del Fideicomiso creado para atender la emergencia por el mayor desastre ecológico en la historia de la minería nacional, afirmó Guillermo Haro Bélchez, fiscal de la Procuraduría Federal de Protección al Ambiente (Profepa).

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