The research report dated March 2, 2018 entitled Southern Silver Exploration Corp. (TSXV: SSV/FSE: SEG1 /OTCQB:SSVFF) – Initiating Coverage: Significant Resource Expansion in Durango, Mexico was written and produced by FRCs Vice-President and Head of Research, Siddharth Rajeev, B.Tech, MBA, CFA, as an independent analysis of SSVs activities and progress.
The results of our first drill hole targeting the high-grade breccia below the proposed pit validate our decision to commence the surface drill program ahead of drilling from the underground decline, said Greg McCunn, Chief Executive Officer. The results will allow us to more fully understand the geometry of the complex breccia and the nature and extent of the mineralization ahead of drilling from the underground decline which is expected in Q3 2018. An added objective of our program was to test a lower-grade hydrothermal breccia structure lying south of the proposed pit which have shown positive results from this initial hole. The lower-grade hydrothermal breccia lies outside of the proposed PFS pit outline.
Fred Davidson, President and CEO, stated, “Earlier in the year, IMPACT was named to the 2017 TSX Venture 50. We entered 2018 with a clean balance sheet and no debt. Currently working capital remains strong at $5.6 million. IMPACT continues to expand its in-mine exploration and development to provide additional tonnage throughput at the mill. We also have in place ongoing exploration plans for high potential targets and continue to evaluate strategic transactions to grow value for our shareholders.”
Karl Boltz, President and CEO of Silver Spruce stated, “Silver Spruce will continue in its efforts to source funding for these two very exciting projects and will keep all investors informed of its progress.”
Colibri Resource Corporation announces that it has been granted an extension from the TSX Venture Exchange to close its over-subscribed $1,200,000 non-brokered private placement. A first tranche raising gross proceeds of $1,077,098 has already closed. The second and final tranche is now required to be closed on or before March 21, 2018.
Leagold Mining Corporation reports Q4 2017 gold production of 53,446 ounces at its Los Filos mine at AISC of $910/oz, resulting in an AISC margin1 of $18.7 million. With full-year Los Filos gold production of 191,195 oz, Leagold has delivered the mid-point of the 2017 production guidance range of between 185,000 and 200,000 oz. Leagold had anticipated AISC of between $875/oz to $925/oz for H2 2017, and this guidance range was achieved for Q4 2017.
We are very pleased to release the December 31, 2017 reserve report showing significant increases to reserve tonnes, stated Mr. Barry Devlin, Vice President of Exploration for Gold Resource Corporation. Much of the 2017 reserve ore tonnage and base metal increases came from deep in the Switchback vein system in the same areas as the deepest mine development levels to date. We estimate this area to have lower precious metal grades and higher base metal grades relative to higher elevations in this epithermal vein system…..”
I am pleased that Gold Resource Corporation delivered our seventh consecutive year of profitability, stated Gold Resource Corporation CEO and President, Mr. Jason Reid.
Neil Woodyer, CEO, stated We are extremely pleased with the 59% increase in P&P reserves at Los Filos, which reflects the success of our 2017 programs focused on extending mine life.Furthermore, this growth we are reporting today excludes any additional contribution from the Bermejal Underground expansion project, which has M&I resources of 2.1 Moz of gold (see Table 3) at a grade of 5.96 g/t, as reported as of December 31, 2017.The Bermejal Underground expansion is currently in the mine design phase in preparation for declaration of reserves in mid-2018. With the exploration success during 2017 and the reassessment of Los Filos long-term potential, studies are underway to evaluate building a carbon-in-leach processing plant, enabling higher recoveries for a wider range of ore types.
The proceeds of the private placement will be added to working capital. The sole subscriber to the private placement is Salvador Garcia, a director of the Company and Starcores Chief Operating Officer.
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