Mr. Thompson, Although progress is slower than we had hoped we are nearing production. The year 2017 will have Mexus ramping up to 10,000 tons a day at the Santa Elena mine. In addition, we expect great things from our San Felix project with production occurring as soon as feasible. All of this is occurring with minimal debt.
Arian Silver Corporation announces that upon the recommendation of the Companys Nomination & Remuneration Committee, a share option plan was adopted on 3 February 2017 to succeed the Companys existing stock option plan. The Share Option Plan provides for the award of options over the Companys common shares of no par value including HMRC-approved Enterprise Management Incentive share options.
Arian Silver Corporation is pleased to report that, further to the Companys press release dated 1 August 2016 announcing the sale of the Companys 75 hectare Calicanto project, the assignment has now been finalised, and the cash consideration of US$464,000 has been received (US$400,000 + IVA).
Canada’s Minister of Natural Resources, the Honourable Jim Carr, led an official visit and trade mission to Mexico this week. Minister Carr and Mexico’s Secretary of the Economy, Ildefonso Guajardo, signed a Memorandum of Understanding (MoU) on Collaboration in Sustainable Mineral Resource Development that will benefit both countries over the coming years by laying the foundation for greater trade, stronger growth and job creation. The Minister also congratulated the Canadian Electricity Association and Mexico’s Asociación Mexicana de Energía on the signing of a groundbreaking MoU that will further enhance electricity cooperation between our two countries.
The Company is pleased to announce that drilling of the Companys La Reforma property is about to commence. La Reforma is one of the seven properties that the Company has under option to Desarrollos Mineros El Aguila, S.A. de C.V., a wholly owned subsidiary of Fresnillo PLC in the Uruachic Mining District in Chihuahua State, Mexico. After completing field work during 2016, the Company has been advised by El Aguila that they will commence drilling on this property shortly.
Effective January 13, 2017, Mexus Gold Mining, S.A. de C.V., a wholly owned Mexican subsidiary of the Company, entered into a purchase agreement with Jesus Leopoldo Felix Mazon, Leonardo Elias Jaime Perez, and Elia Lizardi Perez, wherein Mexus purchased a 50% interest in the San Felix mining site located in the La Alameda area of Caborca, State of Sonora, Mexico. The remaining 50% of the site is owned jointly by Mar Mar Holdings S.A. de C.V. and Marco Antonio Martinez Mora.
James McDonald, President and CEO stated We are very encouraged with the consistency of results from our initial drilling on the Soledad structure and its potential to yield future discoveries along its 2 kilometer strike length. These results, combined with the success of the previous 11 holes of the phase I drill program that identified an entirely new silver discovery within a 400 meter strike length on the nearby RAM structure, reinforces our belief that La Cigarra and its surrounding mineralized structures offer significant development potential to add to our future silver resources.
Recent drilling results confirm our ability to discover additional high-grade manto mineralization both near surface and around our existing resource, stated Ben Pullinger, Vice-President, Geology. The discovery of a connector zone between the Guadalupe North and 6A Mantos is very encouraging and provides more flexibility in our mine plans and allows us to open up new headings closer to surface.
“We are thrilled to add another 75 meters on strike of high-grade veins at our Switchback vein system,” stated Mr. Jason Reid, President and CEO of Gold Resource Corporation. “Hole 516150 represents over 275 meters of vein system strike expansion since the first of the year, an increase in strike of over 90% since January 1, 2017. As I have referenced in the past, the discovery outcrop of the Switchback structure is evident in a ridge now over 200 additional meters further on strike to the northwest from this new intercept in drill Hole number 516150. As these high-grade mineralized veins continue to expand, they may not only extend underneath the surface expression of Switchback, but may continue further along strike as well….”
Endeavour Silver Corp. announces the appointment of Tomas Iturriaga Hidalgo as its new Vice President, Operations and Country Manager for Mexico, effective February 2, 2017.
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