“I’ve been informed of a decision taken to reopen the mine in Cosala, Sinaloa. A deal is being reached. It’s moving forward,” President Andres Manuel Lopez Obrador told reporters during a regular government news conference.
“We believe that our drilling in Los Ricos North not only will define a significant resource, but with exploration at Casados North and the initiation of the drilling program at El Nayar, we look forward to additional exciting discoveries.”
“With the existing drill program covering only 30% of the area of the host magnetic anomaly, we see significant potential to grow and upgrade the resource base at Media Luna over the coming years.”
Policymakers are becoming increasingly aware that environmental, social and governance issues may stand in the way of development of new mine projects to feed the growing “green revolution,” Jeremy Weir, executive chairman and CEO of global commodities trader Trafigura, said June 15.
The net proceeds from the sale of the Common Shares will be used by the Company for exploration and general corporate and working capital purposes.
A Phase II drill program is currently in progress with 3,500 meters of reverse circulation drilling in twenty drill holes. Results for four drill holes are included in this release, highlighted by drill hole JES-21-43 which returned 35.1 meters at 0.66 g/t Au and 6 g/t Ag (0.72 g/t AuEq).
The Properties are located in the State of Sonora, which hosts Mexico’s most prolific Mining Camps hosting many of the World Major Gold Producers.
The work completed by SGS was a first-pass bench-scale scoping study based on a small bulk sample of historical drill core, being 100 kg. It is the first metallurgical test-work completed at Panuco and demonstrates robust gold, silver, lead and zinc recoveries above 90% are achievable.
“With the extremely high-grade intercept in hole CDH-072 we have confirmed the bonanza grades El Cometa intercepted by the historic drilling (UC-03) and further developed the model for the complex El Cometa vein system. The model will guide future exploration in this structure which extends 2km east to Los Reyes. Our deeper drilling to extend the eastern side of the El Refugio clavo has shown excellent continuity intercepting multiple veins.”
The full technical report dated May 30th, 2021, with an effective date of May 1st, 2021 is entitled “Technical Report for the La Virginia Precious Metal Project, Sonora, Mexico”. The report was prepared for Silver Viper Minerals Corp by Arseneau Consulting Services Inc. and can be found under the Company’s issuer profile at www.sedar.com.
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