“The work completed during the quarter has laid the groundwork for exploration drilling to develop the resource potential of the Copalquin District as well as drilling to expand the maiden resource which is already substantial due to its high-grades for gold and silver.”
President and CEO Arturo Bonillas commented; “Delivery of a maiden resource estimate is a huge milestone for the Company. The team delivered this robust resource on schedule and on budget. We have unlocked tremendous value through the drill bit and there is great potential for significant resource growth in the near term.”
Equinox Gold Corp. has completed the sale of its Mercedes Mine in Mexico to Bear Creek Mining Corporation as announced on December 17, 2021, for US$75 million, a deferred cash payment of US$25 million due within six months of the date hereof, a 2% net smelter return on Mercedes production and 24.73 million shares of Bear Creek Mining.
“We are extremely pleased to have acquired a producing gold-silver mine with a strong operating team, underlying assets with a replacement cost exceeding our purchase price and what we believe to be exciting “blue sky” exploration potential,” commented Anthony Hawkshaw, President and CEO.
Mel Herdrick, Sonoro’s VP Exploration noted, “With the discovery of multiple prospective high-grade ore-shoots identified by drilling at El Colorado, we are developing an understanding of the permissible extent and trend of these potential ore-shoots that may have up to seven additional repetitions in the footwall of the Guadalupe vein zone extending up to 700 meters to the northwest of El Colorado.”
This payment confirms Barksdale’s intention to continue with its existing option agreement on the 760-acre Four Metals project, located 3km south of the Company’s flagship Sunnyside project and 2km west of the 100% owned San Antonio project.
The amended terms will allow Tarachi to continue focusing exploration efforts and expenditures on the most favorable concessions including Jabali, San Javier, Juliana and La Texana while reducing both near- and medium-term cash obligations.
Con la reforma a la Ley Minera en México se le dio el tiro de gracia a la intención de la empresa canadiense Organimax Nutient Corporation de explotar litio en Coahuila; tenía en trámite la cuarta concesión más grande del país con 303 mil hectáreas.
The net proceeds from the Units will be used by the Company for working capital purposes related to the ramp-up of mining and milling operations at the Tahuehueto Mine and for general working capital purposes.
Check the Mining State Panoramas
The promotion and dissemination as essential elements to understand and disseminate our Mineral resources, that is why today it is pleased to make the document “Mining Panorama” available to society, by state.
GeoInfoMex, is the consultation system of the Mexican Geological Service that allows users to know geoscientific information and make decisions with savings in time and resources, helping to promote mining activity.
The DOF is the organ of the Constitutional Government of the United Mexican States, which has the function of publishing in the national territory, to so that they are properly observed and applied in their respective areas of competence.
Learn about the current situation of the mining industry as well as the activities carried out by Camimex.
Mexico Mining Center © 2021 / All Rights Reserved
