Month: November 2019

Pete Dougherty, President and CEO stated: “We are disappointed with SEMARNAT’s decision to not approve the MIA for the San Antonio project. We have worked hard with the local community and have had positive feedback. We have tremendous support for the project from the local community of San Antonio and the surrounding areas, where members of the local population marched in support of the project and voiced unwavering support at the public information meeting during the MIA process. We continue to believe that San Antonio provides an opportunity for a model mine with the use of clean technologies that also provides near and long-term benefits to the region.”

President and CEO, Arturo Bonillas stated: “Our geologic team headed up by Miguel Soto has made great strides in mapping and sampling our Mercedes property. Exciting drill targets have been delineated and Magna is moving forward on planning an IP geophysics program to be followed by drilling in 2020.”

Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “We are very excited to drill this large chargeability anomaly as these kinds of targets are not easily found, especially in regions well known for big mines. What makes it particularly stand out is that the high chargeability is consistent from east to west on each survey line, and from line to line over the entire grid. One always has to be aware of possible false positives, such as the possibility of disseminated magnetite causing the chargeability anomaly. However, in this case there has been no magnetite found in the area and an historical magnetic geophysical survey by the Geological Survey of Mexico showed no magnetic anomaly.”