Azure Minerals Limited has taken an important step towards developing its flagship Oposura zinc-lead-silver project in Mexico with the appointment of specialist advisor, Noahs Rule, to assist the Company in assessing interim funding proposals.
Dallas brings over twenty years of experience in accounting, finance, capital and public markets to Prize and we are very pleased to have him rejoin our Board of Directors stated Michael McPhie, President & CEO of Prize Mining.
Randy Eppler, interim president and CEO of Plata Latina, commented: “We are very pleased with the positive reults from the recent drill program completed by Reyna. These results build upon our initial exploration success and support our geologic discovery model. Reyna has steadily expanded the extent of known mineralization, focusing on 3 target areas with development potential along a three-kilometer strike length. We believe their efforts will continue to demonstrate the value of the Naranjillo property.”
Igor Gonzales, President and CEO of Sierra Metals commented, The 2019 budget includes important capital investments for property, plant and equipment as well as underground development, exploration, corporate projects including shaft deepening, ventilation and camp improvements. Additionally, tailing dam facility expansions at the Yauricocha Mine, and improvements and expansion of existing tailings deposition facilities at the Bolivar and Cusi Mines are included in this years budget. These prudent capital investments provide for solid returns and will allow the Company to proceed on a path of future production and exploration growth while improving operational performance. Management continues to review metal prices and retains the option to adjust the 2019 budget should metal prices experience any dramatic changes within the year.
2018 was a bittersweet year for First Majestic following the largest acquisition in the Companys history of the San Dimas mine paired with silver prices falling to a nine year low, said Keith Neumeyer, President and CEO of First Majestic. Nevertheless, First Majestic delivered a solid year with record production and revenues of over $300 million, and an AISC of $14.95 per ounce. We also advanced numerous innovative projects in 2018 aimed at increasing shareholder value in 2019. We continue to lead the industry as the purest silver producer and remain focused on improving margins by adopting new technologies with high returns on invested capital.
Keith Neumeyer, President and CEO of First Majestic stated: The drilling results announced today from our Ermitaño project are extremely encouraging as it continues to show the potential to build high quality resources in close proximity to our producing Santa Elena operation. The environmental permitting process is in the final stage with an expected positive decision in the coming weeks ahead. Pending project approval, Ermitaño will add several years of mine life at Santa Elena and will displace the reprocessing of the old heap-leach ore pad with fresh ore containing higher grades that are not subject to the Sandstorm streaming agreement.
N. Eric Fier, CPG, P.Eng, and CEO, remarked, The Companys in-fill drill program at Babicanora continues to deliver drill intercepts with better than expected widths and grade. These results demonstrate that the two previously announced multi-kilogram per tonne shoots (shoots 43 and 51) now appear to be one continuous shoot (Shoot 51). Holes BA19-132 and 133 have also expanded the footprint of the high grade shoot towards the surface. Shoot 51 now has an estimated dimension of 300 metres long by 125 metres high. In-fill drilling targeting the Babicanora Vein also confirmed and expanded high-grade mineralization within the Babi FW and Babi HW veins, while expansion drilling targeting the Babi Norte Vein resulted in the Babi Vista discovery. The Company has now identified five veins averaging 150 metres apart in the Babicanora area, all of which have the potential to be accessible from the ongoing exploration decline…”
The El Cubo and Bolanitos mines continued to generate positive free cash flows in 2018, which were reinvested at Guanacevi to develop two new orebodies, and at El Compas to develop the Companys fourth mine. Additionally, Endeavour spent $12.4 million on exploration, primarily to advance the Terronera project and to explore the Parral properties, where both projects had significant additions to reserves and resources, respectively in 2018.
Premier has maintained a solid reserve and resource base in 2018 including updated statements at three of its property interests. We remain committed to the advancement of our portfolio through sustained exploration and a long-term strategic vision of growing production commented Ewan Downie, President and Chief Executive Officer.
Mexus Gold US confirmed that with its first stage of exploratory core drilling complete, the company continues to move forward with its plan to mine 3500 tons of Julio II vein ore per week. The company is utilizing its own equipment but will contract the blasting and crushing, and will maintain the highest grade of ore being placed on the leach pad. Mexus is setting up a laboratory and interviewing qualified experienced people to operate the lab. Cesar Lemas, Mexus geologist and advisor, is overseeing and handling operations at the Santa Elena mine. The company has removed approximately half of the material from the existing leach pad in preparation for the soon to be mined Julio II quartz vein material. Mexus President Paul Thompson believes the company can achieve one gram per ton gold recovery along with 4 grams per ton silver. This small but important production amount will give Mexus the funds to begin its second stage of drilling and meet ongoing obligations.
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