Month: September 2017

“We’re pleased to have replaced and grown our metal inventory despite minimal exploration drilling until early 2017 due to the difficult state of the precious metal industry since 2012,” said Darren Blasutti, President and CEO. “The building of the San Rafael mine on time and budget coupled with the early drilling success of the adjacent Zone 120 deposit demonstrates the quality of our properties. It highlights the achievement of our disciplined capital allocation approach, prioritizing the most accretive investments to position the Company for future silver production growth without share dilution.”

The recent period has been characterised by a notable operational achievement with the issue of the final permits for the 3D seismic shoot in the Paradox Basin, Utah. In addition, considerable progress has been made with the ongoing process of disposing of the Group’s SDA Mill in Mexico and it is currently anticipated that, subject to funding, both the seismic shoot and the disposal of the SDA Mill will be completed by 31 December 2017. The Group also continues to explore potential opportunities in Cuba, focusing on both the oil and gas and building materials sectors.

“We are very pleased and would like thank our shareholders, insiders and management in participating and securing the funds to advance the San Acacio Silver Deposit in becoming a premier silver asset in Zacatecas, Mexico” said Roy Bonnell, CEO of Defiance Silver. “With long term drill permits in place, we can look to commence our next phase of drilling to continue to grow the resource, but also test several targets along the 900m strike extension to the southeast”

Neil Woodyer, CEO stated “The OTCQX platform will provide our growing shareholder base with increased visibility and transparency by facilitating trading of our common shares in the United States. While our primary listing is on the Toronto Stock Exchange in Canada, we appreciate that some investors prefer to trade in U.S. dollars on the OTCQX market”.

Brian Robertson, President and CEO, stated, “This initial technical report marks a milestone for the Company. It supports the Company’s position that the Las Minas property has the potential to host significant tonnage amenable to both open pit and underground mining methods. Both magnetic and Time Domain Electromagnetic surveys are currently underway at the property, to be followed by a 3,000 metre diamond drilling program to expand the current resource as well as test new zones of mineralization. We look forward to the successful continuation of our exploration program at Las Minas.”

Orex Minerals Inc. was made aware earlier today that Canasil Resources Inc. has been named in a lawsuit brought by Pan American Silver Corp. with the BC Supreme Court regarding the mineral claims making up the Sandra Escobar Project in Durango state, Mexico.

El fisco mexicano y empresas mineras de Canadá sostienen una mesa de diálogo para resolver el caso de 360 millones de dólares retenidos en devoluciones de impuestos a seis mineras canadienses que operan en México.