Month: December 2017

Mr. Randy Reifel, President states, “We are very early in the drill program with only five holes completed in the Central Prospect. We are very encouraged that Y-02 and Y-03 tested a deep blind IP anomaly that underlies a 3.0 x 1.5 kilometre hydrothermal system exposed on surface and confirms its continuity to a depth of 500 metres. The strength and types of the alteration with increasing copper values lower in the system indicates a potential significant mineralized intrusive. We are also pleased with the first two drill holes in the Spaniard zone. Drill results confirmed the depth of the gold-silver sulfide mineralization to at least 100 metres. Resistivity profiles indicate that several of these structures may extend more than 350 metres below surface.”

“The upcoming exploration program is founded on a back-to-basics review and reanalysis of the large historical database of geophysics, geochemistry and drilling on the Platosa Property,” stated Ben Pullinger, Vice President Geology. “This analysis has already successfully identified new prospective targets at Jaboncillo and San Gilberto, which have been confirmed by field mapping. We are confident that this methodology and the improved understanding of the regional system surrounding the Platosa Mine will lead to positive exploration results in 2018. We are also pleased to have the funding secured to execute this comprehensive exploration program as we explore for new manto and skarn discoveries on one of Mexico’s most prospective mineral belts.”

Thomas Atkins, President and CEO of Mammoth commented on this successful Private Placement, stating: “We’re pleased to be closing on one hundred percent of what we’d set out to raise through this financing and in fact we couldn’t accept additional investment due to the limits of our price reservation. We’re also pleased to announce that even prior to closing this financing we began diamond drilling and are pleased to so quickly be able to mobilize and start drilling relative to the announcement of our plans to fund drilling via this Private Placement. Mammoth’s VP Exploration, Richard Simpson is on site and working with the drill contractor and local laborers to advance this drill program. Results are expected early to mid January and throughout the first quarter of 2018. We’re optimistic the abundant surface work performed by the Company, and which was used in selecting the drill targets, will produce some attractive precious metal intersections from this drilling.”

“The Zacatecas Mineral Assets represent one of the largest and most historically important land packages within Mexico’s Zacatecas silver belt and we are very pleased to have reached this agreement with Contracuña which provides us greater flexibility to consolidate our mineral interests,” stated Arturo Préstamo, President and CEO of Santacruz. “In addition, our joint venture with Carrizal is an important milestone in our plan to grow our Zacatecas operations into a significant silver producer, and we look forward to its continued development as part of Santacruz’s transition into a mid-tier Mexican silver producer.”

J. Duane Poliquin, Chairman of Almadex commented, “We are very pleased to report additional assays from the very northern part of the large Villa Rica geophysical and geochemical target. We believe that these results further indicate large scale porphyry potential in this part of the project. While we have demonstrated the potential for a significant deposit with our Norte drilling, today’s results at Raya Tembrillo clearly show that we are dealing with a large cluster of porphyry systems all of which hold the potential to be important porphyry copper-gold deposits.”

Silver Viper’s President and CEO Stephen Cope states, “La Virginia is a highly prospective gold-silver property aggressively explored by Minefinders, whose last reported assays, prior to their acquisition, were highly encouraging. The property may have been overlooked as a non-core asset during the transition. Silver Viper sees in La Virginia an opportunity to build a portfolio of exciting exploration projects and advance work to date in the prolific Sierra Madre Occidental.”

Commenting on the drilling campaign, Azure’s Managing Director, Mr Tony Rovira said, “The mineralised intercepts we are seeing are confirming the overall size potential and the internal continuity of the Oposura deposit. Particularly pleasing is that where we intersect massive sulphides, the high tenor of those sulphides is returning very high grades of zinc and lead, and with many of the holes intersecting large mineralised widths, the results are demonstrating positive signs for the mining studies currently underway.”

Duane Poliquin, Chairman of Almaden, commented “This highly credible study is a fundamental step towards project development. We are pleased that our active community programs have accomplished the primary objective of ensuring that the local communities understand our project. With the benefit of this report, we can now turn our minds to a social investment plan to accompany the mine, which accommodates the needs identified in this process, and best ensures local people are in a position to benefit as much as possible from Ixtaca project development”.