Month: January 2018

Charles Funk, VP of New Opportunities and Exploration commented, “We are very excited by the development of the Ermitaño West vein. Drilling to date has traced a zone that is 590 metres in strike and up to 210 metres deep with an average thickness of approximately 11 metres. Mineralization remains open at depth and to the west while the main shoot has demonstrated the presence of high gold and silver grades with the potential for significant additional mineralization and tonnage. According to First Majestic their plans for Ermitaño West in 2018 include 20,000 metres of drilling to define a resource, expand the extent of known mineralization and explore for additional veins in the area.”

San Marco Resources Inc. announces further assay results from continuing fieldwork at Chunibas. As disclosed in the Company’s news release dated January 10th, 2018, newly discovered copper and silver mineralization at the Company’s 100% owned Chunibas property has been located over an area of approximately 1.2 kilometres of strike and at least 100 metres of width. That zone has now been extended to 1.7 kilometres of strike and up to 150 metres of width, and open in all directions.

Mark Ashley, Chief Executive Officer of Tonogold Resources, stated “As was in the case of the Lucerne Mine, the identification of this opportunity and the formalization of the present agreement are the result of a number of years of diligent review of numerous opportunities that we had identified in the sector and the subsequent formation of sound commercial strategies aimed at securing control of opportunities that have the potential to become significant and financially robust projects in the near future.”

Akiba Leisman, Executive Chairman and Interim CEO states that “internal studies applying current mining costs along with column leach testing results of drill core at Colinas, indicate that mineralized material from Colinas may be suitable for processing at the La Trinidad Mine. Ideally, material from Colinas would supplement current production before we access the southern part of the high-grade HS Zone in March.”

Fred Stanford, President and CEO of Torex stated “This End-Of-Year (EOY) 2017, update of mineral reserves and resources for the ELG Mine Complex is really all about the underground discoveries at the Sub-Sill. (The mineral reserves and resources for the open pits remain largely unchanged except for depletion.) As anticipated, the Sub-Sill provides excellent near-term cash flow, and is open in at least three directions, which provides for the potential to extend that cash flow into the medium/long term.” He added – “The engineers have done an excellent job in designing a projected low CAPEX operation to manage the complexities of the ore-body geometry. We look forward to continuing the drill program as soon as possible, with the objective of adding and upgrading mineral resources, and ultimately, to profitably extend the mine life.”