J. Duane Poliquin, Chairman of Azucar, stated “We are pleased to report these further results from the Porvenir Zone and to getting the drill turning once again on the excellent targets that we have at El Cobre. We look forward to updating shareholders on this year’s plans and reporting on our progress and results.”
The proceeds from the Private Placement are expected to be used by the Company to complement the acquisition of the Zimapan mine assets, to accelerate exploration activities at the Horizontes (Lomo del Toro) area and for general working capital and corporate purposes.
Updated Mineral Resource estimate for Plomosas mine totals 941,000 tonnes @ 13.0% Zn and 3.4% Pb for 154,000 tonnes of contained metal in Indicated and Inferred categories. 40% of 2020 plant feed was mined from outside of the existing model.
Drill hole CDH-050 is our best intercept to date in the district with 285 gram-metres AuEq over 4.17m showing a significant (3x) increase in grade-thickness as we drill deeper at El Refugio (CDH-033 with 92 gram-metres AuEq.)
Mexico could revoke a concession held by Canadian miner Americas Gold and Silver Corp in northern Mexico if it does not accept its new trade union representation there, President Andres Manuel Lopez Obrador said on Wednesday.
El presidente de México, Andrés Manuel López Obrador, dijo el miércoles que está dispuesto a tomar acciones legales, incluida la revocación de una concesión, contra dos mineras canadienses que operan en el país y a las que acusa de violar la ley en una disputa fiscal y en un conflicto sindical.
The vein intercepts in these drill holes confirmed that the La Esperanza vein can be located along strike and to depth as projected. The drill defined mineralized envelope, below the 150-metre strike length surface outcrop of the vein, has now been extended from 425 m to 525 m along strike (+23.5%). The southeast depth extent has increased from 250 m to 350 m (+40%), resulting in an overall increase of the mineralized envelope by 73%.
“The recently announced sale of our non-core asset, the Toiyabe property in Nevada, will provide further working capital to explore and develop our Mexican properties in order to find new opportunities and continue to extend the San Martin mine life.”
The Company is doubling the size of the current drilling program on the Cerro Las Minitas Ag-Pb-Zn project from an initial 10,000 metre program to a 20,000 metre program. Drilling will continue with two drills targeting the east side of the Cerro where to date three near-surface sulphide lenses with Bonanza-grades of silver have been identified. Shallow oxide Au-Ag mineralization has also been confirmed in the Mina La Bocona area. Mineralization in all of these new target areas is separate from the existing mineral resources.
Gold mineralization is hosted by stock works of quartz and quartz carbonate veins formed by conjugate sets of veins striking northeast and northwest. These stock working veins form zones that range in apparent width, from a scale of one meter to over 30 meters.
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