Almadex has dropped several of its legacy projects in Mexico including Yago and Lajas where exploration progress is challenged by numerous impediments to timely progress.
During the second quarter of 2023, the Camino Rojo Oxide Mine produced and sold 29,058 and 29,773 ounces of gold, respectively. Camino Rojo continues to perform according to plan, and the Company remains on track to meet 2023 annual gold production guidance of 100,000 to 110,000 ounces.
The higher year-over-year gold production is primarily due to the start of production at the Séguéla Mine which offset lower gold and silver production from the San Jose Mine, which was impacted by a 15-day illegal union worker blockade
The Company intends to use the net proceeds of the Offering to continue the exploration and development work on its Ana Paula Project in Guerrero, Mexico, as well as general corporate working capital purposes.
GR Silver Mining Ltd. announces that it proposes to undertake a non-brokered private placement of units at a purchase price of $0.075 per Unit, to raise total gross proceeds of up to $1 million.
“Infill and step-out drilling to the south at El Limón Sur Deep was successful in extending higher-grade mineralization outside of the current resource block model. Several drill holes returned notable intersects over favourable widths including 88.92 grams per tonne gold equivalent over 14.5 metres in drill hole LS-220, 11.20 gpt AuEq over 29.4 m and 19.03 gpt AuEq over 13.3 m in LS-221, 6.86 gpt AuEq over 16.6 m in LS-187, and 7.46 gpt AuEq over 11.6 m in LS-184.”
James Anderson, CEO & Chairman, said, “After over 450 years of near-continuous production as one of the most significant silver mines in world history, the Valenciana Mines Complex retains hundreds of underground pillars that exhibit some of the highest silver grades within the entire Guanajuato mining district. Immediately following our acquisition of Valenciana, we recognized the substantial mineralized potential available to us contained within the old workings that were left behind by previous operators.”
“We see expansion of the Central Area with high-grade mineralization discovered along strike and at depth beyond the current resource pit, with the potential discovery of a new high-grade structure. We are excited by the continued discovery of high-grade areas outside of the MRE that demonstrate the scale of the Los Reyes system with potential to contribute to the global project.”
Dale Andres, CEO of Gatos Silver, commented: “The CLG mine continues to perform very well with another record for mill throughput rate during the quarter, supported by further mine debottlenecking and plant optimization efforts. We remain on track to achieve 2023 production guidance at CLG and to provide an updated mineral resource and reserve estimate before the end of the third quarter of this year, including a new life of mine plan.”
Kenneth MacLeod, President and CEO of Sonoro, commented, “Targeting the oxide gold mineralization inside the Northwestern Corridors Area is intended to potentially expand the project’s resource. This expansion, along with the planned infill drilling targets at the higher-grade bodies of gold mineralization at El Colorado and Guadalupe vein zones, may enhance the overall economics of the Cerro Caliche project.”
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