Southern Silver Exploration Corp. reported today that funding has been approved by Electrum Global Holdings L. P., as Optionee, and final preparations are underway for a US$2.0 million, 2016-17 exploration program on the Cerro Las Minitas Project, Durango, Mexico.
Capstone Mining Corp. is pleased to announce the appointment of Robert Gallagher and Jill Gardiner to the company’s board of directors.
“Operating performance in the third quarter continued to be very strong, setting throughput records at both Pinto Valley and Minto,” said Darren Pylot, President and CEO of Capstone. “In addition, we received the benefit from a full quarter of processing high grade Minto North ore.”
Kootenay President and CEO James McDonald states: We are very pleased with Pan Americans work and the results to date from the first 11 holes of the program. The confirmation of multiple high-grade intercepts of silver mineralization at depth is a significant development and further indicates potential for the silver resources to be amenable to both open pit and underground exploitation. We are also very pleased that based on the encouraging results achieved to date, Pan American is extending the program by a full 2,000 meters until the end of the year.
MX Gold Corp. is pleased to announce a binding agreement with Gracepoint Mining Corp., a subsidiary of Firma Holdings Corp. to acquire a 50% interest in the Magistral, Del Oro tailings project, which is located within the Golden Triangle in Santa Maria Del Oro, Durango, Mexico.
Almadex Chairman, J. Duane Poliquin commented, “These results further show the potential of the El Cobre project to host a significant gold-rich porphyry system. The Norte zone is one of four well defined porphyry centres within a very large zone of porphyry related alteration. We look forward to following up this exciting intercept with further results from our ongoing aggressive drill program focused on the goal of defining a new gold-copper resource in Mexico.”
Alix Resources Corp. and Lithium Australia updated the market on their progress at their Electra Project in Sonora, Mexico. Sonora is Mexicos second largest state and the project is located to the northwest of the country.
Luis Castro, Vice President of Exploration, commented, These in-fill drill results continue to confirm high grade silver-gold mineralization over substantial true widths in the Terronera vein. The deposit is still open for expansion at depth and to the southeast, and we now have high priority drill targets identified in several other mineralized, subparallel veins to the north of the Terronera vein.
Thomas Atkins, President and CEO of Mammoth Resources commented on the amended terms stating: “The amendment to the terms of the Company’s option agreement with the vendors is reflective of the strong relationship we have with the vendors and our shared optimism in the potential of the Tenoriba High Sulphidation, precious metal project. These new terms take into account the past years of weak equity capital markets for mineral exploration companies and the potential such challenges could extend into the future. The reduction of US$41,662 in future vendor payments at the recent US$ to C$ exchange rate of US$1 = C$1.32 equates to approximately C$55,000 in reduced vendor payments. This amount divided by the 600,000 shares issued attributes a value of C$0.09 per Mammoth share whereas one month ago Mammoth announced closing a C$202,500 private placement priced at C$0.02/unit. Clearly, the issuance of these shares to reduce this payment is an attractive use of capital at this time and given the recent valuation of the Company’s shares.
In summary, Prospero has restarted work programs on its 100%-owned projects. Management is currently prioritising and ranking the Company’s key projects for joint venture. The Company has also submitted permit applications to drill the Matorral target at Santa Maria del Oro.
Check the Mining State Panoramas
The promotion and dissemination as essential elements to understand and disseminate our Mineral resources, that is why today it is pleased to make the document “Mining Panorama” available to society, by state.
GeoInfoMex, is the consultation system of the Mexican Geological Service that allows users to know geoscientific information and make decisions with savings in time and resources, helping to promote mining activity.
The DOF is the organ of the Constitutional Government of the United Mexican States, which has the function of publishing in the national territory, to so that they are properly observed and applied in their respective areas of competence.
Learn about the current situation of the mining industry as well as the activities carried out by Camimex.
Mexico Mining Center © 2021 / All Rights Reserved
