The Company expects to close the acquisition of the complete process plant and select auxiliary equipment used in the operation of Goldcorps El Sauzal Mine in Chihuahua, Mexico from a Mexican subsidiary of Goldcorp later this month. The Plant is being acquired for future use at the Companys recently acquired Ana Paula project in Guerrero, Mexico.
Morgan Poliquin, President and CEO of Almaden, commented: “This is a significant transaction for Almaden. This mill is very well suited to the flow-sheet we envisage at our Ixtaca project in Mexico, and represents the same throughput as we outlined in our ‘ramp-up’ scenario in our PEA Update announced in September, 2014. Furthermore, we can acquire this infrastructure for substantially less than the cost estimated for brand new equipment in that PEA Update. For several years we have been dealing with very challenging market conditions for mineral exploration and development as metal prices have fallen along with sentiment. At Almaden we have a long-term view and look for the opportunities that such markets bring. We are very excited by the opportunities that this transaction could provide.”
Aurcana Corporation is pleased to report the Q3 2015 production results of 842,334 ounces silver equivalent compared to 997,530 in Q3 2014, a decrease of 16%. Silver production decreased by 15% to 348,764 in Q3 2015, compared to 412,063 in Q3 2014. Although milling and mining production increased during the third quarter, production occurred in lower grade areas of La Negra mine.
Canarc Resource Corp. announces that it has been granted the right by the Zacatecas state government to enter into an exclusive agreement to lease their fully permitted 500 tonne per day processing plant La Plata in the city of Zacatecas, Mexico.
Mexus Gold US President/CEO Paul Thompson today announced that Argonaut Gold has been granted a permit by SEMPRAS to begin drilling at the Julio/Martha Elena property. Argonaut has contracted with Mexus to build roads and drill pads as necessary. The company began this work on October 16 [th] . Added CEO Thompson, “I feel as if Argonaut is ahead of schedule and am pleased with the progress to date.”
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