Day: October 18, 2017

Commenting on the drilling, Azure Managing Director, Mr Tony Rovira, said, “This is a very exciting time for Azure. With drilling underway at Oposura, the Company now has six rigs turning on three different projects, delivering a continual news flow over the next few months. Programs range from first-pass drilling on the exciting Sara Alicia gold-cobalt prospect to the resource drill-out program at Oposura, as well as deep exploration drilling being undertaken at Alacrán by our partner Teck Resources.”

El Gallo Mine, Mexico – Overcoming Challenges

Production in Q3 was 7,213 gold equivalent ounces, compared to 11,849 gold equivalent ounces during the same period in 2016. Production in Q3 continued to be below our expectations as a result of a serious mechanical failure at the end of July that removed the crushing circuit from operation. As a result we were unable to crush and place fresh ore to leach on the leach pad for a period of time. We currently have almost twice our normal crushing capacity available for the remainder of the year. Production is improving on account of the increased throughput, and access to better grades of ore in the pit that was predicted in the second half of the year. Increased production in Q4 will partially compensate for the shortfall experienced to date.

Warren Bates, P. Geo., the Company’s Director of Project Investigation said: “We are very pleased with the results of the soil sampling program, which has significantly extended the potential strike length of known gold bearing veins and has defined a very prospective intersection of a new vein corridor target and the Serpiente Dorada vein. The combination of initial rock sampling and mapping, results of the recent soil sampling, and the three-dimensional view provided by the project’s 900 metre vertical cliff side topography and colonial era adits, allow us a very helpful perspective of the vertical size and potential of the high-grade gold veins in the project area. We await the conclusion of the mapping and sampling programs over the main Cascaron gold vein field that will allow us to finalize several drilling locations for our initial drill program.”

Liberty Star Uranium & Metals Corp. announces with great sadness that Dr. John Guilbert, a respected and valued member of the Liberty Star board of directors, passed away around noon on October 17th at the Oro Valley Hospital near his home.

The 2017 drilling on the Cerro Las Minitas project, Durango Mexico totaled approximately 13,600m in 18 drill holes and successfully identified and extended the new Skarn Front zone of mineralization beneath the Blind and El Sol deposits. Data compilation and modelling continues on the new mineralized zone that will be incorporated into an updated Mineral Resource Estimate due in the coming weeks. Surface work continues on the newly acquired Biznagas, Los Lenchos and Creston Del Oro claims, which are targeting precious-metal-enriched, volcanic-hosted, epithermal vein systems similar and on trend to the Avino Ag-Au mine and the adjacent San Sebastian Mine.

Riverside’s President and CEO, John-Mark Staude, stated: “We see great discovery potential at Peñoles and will provide shareholders with additional updates on our progress as we make advancements towards a new partnership or self-funded drill campaign. We are committed to creating value through discovery and have updated our approach to budget for more self-funded exploration and drilling in addition to all of our partner-funded activity. We are currently engaged with prospective partners on several of our projects and we are confident that the Company will be able to deliver multiple new drill programs during this year’s winter season.”

Neil Woodyer, CEO stated: “The drilling program has been very successful in adding mineral resources, as demonstrated by the significant increase in the interim Measured and Indicated Resources and additional Inferred Resources reported on October 16. Our drilling program is continuing with 13 active drill rigs and 41 additional holes to be completed by year end. The exploration program at Bermejal is exceeding our expectations.”