Christopher Ecclestone, CEO of Alix, stated: “We are very pleased to have quickly reached this significant milestone with Lithium Australia and look forward to our maiden drill program on Li-rich targets in Agua Fria. The objective is to discover lithium-rich clay layers similar to that of the Bacanora/REM La Ventana deposit.”
BACANORA MINERALS LTD., the Canadian and London listed lithium company developing the Sonora Lithium Project in northern state of Sonora, Mexico, is pleased to provide an update on activities being undertaken as part of the Company’s upcoming definitive Feasibility Study.
Jim Bannantine, the Company’s President and CEO commented, “We are happy to report a good quarter of production and costs for Aura Minerals with positive net income and cash flow from operations. We look forward to the ramp up of our EPP project to accompany the ramp down of Sao Francisco over the coming quarters and to being able to maintain our previously adjusted guidance for the remainder of 2016. San Andres continues to be our steady producer and cash flow generator.”
“All three of our mines performed well in the third quarter driving our strongest operating and financial results thus far this year. Production increased to 99,228 ounces of gold while all-in sustaining costs fell to $979 per ounce. Our operations continued to generate positive free cash flow and at current gold prices we expect strong free cash flow growth in the fourth quarter and into 2017. We remain well positioned to meet our full year production, cost and capital guidance,” said John A. McCluskey, President and Chief Executive Officer.
“We are very pleased to have declared commercial production at our Veta Grande Mine, which represents a new chapter for the Company as we diligently work to increase our total production threshold in Mexico. A number of activities are in progress to support further throughput growth at Veta Grande, which we see as a cornerstone asset for Santacruz.” stated CEO Arturo Préstamo. “Over the past six months, the Company has also been working to augment and diversify mineralized feed for the Rosario Mine milling facility, including the delivery of higher grade material from the Cinco Estrellas property located 40km away. While production from the Rosario Mine itself decreased in the third quarter due to narrower zones of mineralization, it is expected that additional tonnage from Cinco Estrella coupled with the commencement of commercial production at the Veta Grande Mine should result in significant increases in production in 2017.”
The 2015-2016 drilling to further delineate the extent of the new Valdecañas Deep Zone was completed, and assays released during the quarter. Overall results show vein widths ranging from 5 to 29 metres with the highest zinc and copper grades seen to date. The new results show that mineralization in the Deep Zone occurs in both the East and West Valdecañas Veins and extends mineralization roughly 250 metres beneath the existing resource over a combined strike length of over 800 metres. The Deep Zone mineralization remains open to the property boundary in both directions: 300 metres to the west and 700 metres to the east.
J. Duane Poliquin, Chairman of Almaden, commented, We started drilling again at the Norte zone to follow up an old hole that ended in important mineralisation. The Norte Zone has room to grow from the recently reported intersections. Nevertheless, the extensive geophysical and alteration work we have done in the past show this area to be an offshoot of a much bigger target which may represent the intrusive core of this large porphyry system. This untested bigger target along with the untested Villa Rica zone will be drilled in the weeks and months ahead. To that end, a new more powerful drill was recently built for the Company. It was shipped from Vancouver this week and should be in Mexico within two weeks.
We continue to support the environmental approval process on the Don Diego project through our Mexican subsidiary, and we look forward to moving the project forward in the near future. Plans have been completed, and the team is prepared to begin the next phase of the project as early as Q1 2017, said Mark Gordon, Odyssey Chief Executive Officer and President.
DynaResource, Inc. is pleased to announce that Mineras de DynaResource S.A. de C.V., the 100% owned subsidiary of DynaUSA and the exclusive operator of the San Jose de Gràcia Property in northern Sinaloa, México, is reporting the delivery for sale, on October 31, 2016, of an approximate 550 Oz gold contained in concentrates (exact weights in gold and silver oz. to be determined at final settlement).
Pledge to revive U.S. manufacturing and rehabilitate the countrys aging infrastructure boosts mining stocks.
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