Goldgroup Mining Inc. held its annual general and special meeting of shareholders in Vancouver, B.C. on July 11, 2018. At the meeting, all director nominees listed in the Company’s management information circular dated June 6, 2018, were elected as directors of the Company.
“The promising initial results from our systematic exploration program have led to the discovery of several previously unknown veins which have returned high-grade silver-gold and base metal mineralization, stated Warren Rehn, President and Chief Executive Officer of Golden Minerals, and we believe additional high-grade mineralization may well be discovered at Santa Maria. I want to emphasize that Golden Minerals is a debt-free and well-funded company intent on advancing our projects in Mexico and Argentina. In addition to the forthcoming PEA update for Santa Maria, we expect to issue a positive PEA on El Quevar within the next few months.
Paul Benson, President and CEO said, “Solid performance at each of our operations in the second quarter keeps us well on track for full year production guidance. With a stronger second half of the year still in front of us, we look forward to delivering into near-term growth.”
Heclas second quarter mine production exceeded expectations due to continued improvements in the mines, said Phillips S. Baker, Jr., Heclas President and CEO. Greens Creek had higher than expected grades and had about 5% of the tons coming from automated headings. Casa Berardi exceeded expectations due to higher grades and the flexibility of having sources of ore from the underground and the surface. San Sebastian production, while lower than last year, was higher than we expected due to higher grades. This outperformance put the cash position at the second highest in the past six years, which we expect to deploy to acquire Klondex early in the third quarter.
Orla Mining Ltd. (TSXV: OLA) is pleased to announce that the Company has filed a technical report, prepared in accordance with National Instrument 43-101, for its 100% owned Camino Rojo Project located in Zacatecas State, Mexico. Orla previously released the results of the preliminary economic assessment in its May 29, 2018 news release which included a summary of all assumptions and key results contained in the technical report.
The Survey, conducted by Zonge International of Tucson, Arizona, was undertaken to better define targets for a planned drill program. It was comprised of nine lines of IP each 2.0 kilometers long for a total of 18 line kilometers spaced 200 meters apart, covering an area of 1.6 by 2.0 kilometers. The Company will be releasing the results of the Survey in due course as such results become available.
Kootenay President and CEO James McDonald states, “We are very excited by these results that further underscore the inherent potential for new discoveries and to substantially increase the size and scope of our established silver resource. In particular, drilling on Las Carolinas to the south of the deposit hit consistent grades and intervals of silver extending 100 meters on strike and 200 meters down dip. Drilling on the La Borracha Zone located contiguously north of the deposit further confirmed this targets large bulk tonnage potential, which now extends a full 1,100 meters on strike from the resource boundary
We realized further improvements at the Platosa Mine and Miguel Auza concentrator during the second quarter, including the most tonnes processed at Miguel Auza since the Company acquired the mill in 2009, stated Brendan Cahill, President and CEO. We also achieved AISC of less than $10 per payable silver ounce for the quarter. While there is more work to do to increase production, were making strong progress. Most importantly, we now have a stable, cash-flowing operation at Platosa that provides a platform for our greater exploration and growth goals.
The Company began to see the impact of Mercedes development initiatives late during the second quarter when production from Diluvio and Rey de Oro began to reach the mill. stated John Begeman, Executive Chairman of Premier. It is expected that these two deposits will drive increased production and a stronger second half at Mercedes. When also considering stronger than expected production from South Arturo, we have re-evaluated and ultimately revised 2018 gold production guidance.
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