Our Hermosillo-based exploration team, headed by noted geologist Mel Herdrick, has finalized the planning of a drill program for the Cerro Caliche concessions, including El Colorado, said Kenneth MacLeod, President and CEO of Sonoro. A drill plan has been submitted to the Mexican federal environmental agency, Semarnat, for review and approval and a response is expected shortly.
We are excited to follow up on last years highly successful vein intersection by testing a number of similar high-level veins that we have mapped in, and on the margins of, down-dropped blocks outside of the historic mining corridor, stated Darrell Rader, President and CEO of Minaurum. Well focus on these new veins to determine the footprint of the overall Alamos District, which appears to be much larger than previously thought, and could well hold more veins of the width and grade mined historically. Our approach is to find and prioritize an inventory of veins before drilling them off.
The Company has signed a definitive agreement with Metalla Royalty and Streaming Ltd for the sale of its 2% royalty on the Santa Gertrudis project for cash consideration of US$12 million. The Company has a share option to elect to take US$6M of the purchase price in Metalla common shares at a deemed price of C$0.78 per Metalla common share.
La experiencia de extraer oro sin utilizar sustancias tóxicas como el cianuro puede llegar a revolucionar a la minería del futuro, dejando atrás los viejos sistemas.
Oso Negro is an exciting prospect missed by other exploration companies and is another example of the bountiful and often under-exploited mineral potential of northern Mexico. By continuing our proactive approach to identifying and acquiring under-valued exploration projects, the Company is expanding our diversified portfolio of high-quality, early-stage and advanced precious and base metal projects, Mr. Tony Rovira, Managing Director.
CEO Brad Marwood said, Since joining the Company, my focus has been on the transition of CZL from explorer to producer. The Boards decision to commence mining, having secured toll treatment and concentrate off-take agreements is a low risk, fast return option that will see mining re-established for a low capital cost.
Fred Stanford, President and CEO of Torex stated: With the ELG, ramp-up to steady state nearing completion, this TR incorporates the ramp-up learnings and illustrates that ELG is an asset that produces in the lowest quartile of all in sustaining costs per ounce. The TR also lays out the ground work for growth through the ELG Underground (ELG UG) mine and Media Luna deposit, and through the advancement of the conceptual Muckahi technology.
“We continue to be impressed with our team’s execution as we advance projects on time and on budget through the permitting and development process”, said David Garofalo, President and Chief Executive Officer of Goldcorp. “Goldcorp provides its shareholders with meaningful value growth opportunities over the next decade with reserve and production growth and declining costs from existing mines, and the strongest pipeline of potential large-scale new mines.”
Despite the recent volatility of commodity prices, activity levels continued to grow this quarter, said Denis Larocque, President and CEO of Major Drilling Group International Inc. This growth was led by our international operations as South and Central American revenue was up 41% and Asian and African revenue was up 58% compared to last year. In Canada – U.S., our revenue was relatively flat as we concentrated on higher margin contracts due to the high level of labour utilization experienced in these operations, while still facing competitive pressures. With the market improving and our continued efforts on recruitment and training, we should see revenue start to grow in these regions in the coming quarters.
With the successive closing of several tranches of our financing, we are excited to initiate drilling in the main showing areas at Manto Negro, stated Michael McPhie, President and CEO of Prize Mining. The Phase II program will focus on two areas in order to provide a better understanding of the style, continuity, grade and thickness of the copper mineralization. This should give us the confidence to subsequently step out and test other targets on this extensive property, thereby confirming the district-scale potential of the Manto Negro Project.
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