Category: Exploration and Development

“This result is one of the highest-grade and most consistently mineralized to date and continues to prove the significant potential of the developing new resources in the Gloria / Three Sisters vein system. In addition, these wider and higher grade veins are closer to the surface and will further improve their economic impact to our future mine plans,” stated Allen Palmiere, President and CEO of the Company.

Kootenay’s President & CEO, James McDonald states, “We are very pleased with the current program which continues to intercept D-Vein with excellent grades and widths. Each hole to date has expanded the size of the zone. We have two more holes to report on in this drill program, which are step outs to the southeast, where surface mapping indicates several hundred meters of strike potential on the vein.”

“We also continue to discover new targets and build new resources at our other mines, such as at La Colorada, El Peñon, Huarón and Timmins. In addition, multiple mineralised intercepts of over 100 metre widths have further expanded and added confidence to the large mineralisation footprint at the La Colorada Skarn project, demonstrating the world-class nature of the deposit.”

“We are very pleased to see continued concentrated precious metals grades in new areas, as well wider zones of dispersed gold values, which we consider positive for bulk mineable mineralization potential,” Dr. Craig Gibson, President and CEO commented.

Greg McKenzie, President and CEO, commented: “The Quebradillas Mine continues to deliver high-grade silver results within immediate proximity to the existing underground development and services. Within the C1524 Zone, the mineralization appears to be strengthening at depth, exceeding grades and widths within the past two mining horizons.”

“During the third quarter of 2023, the Tahuehueto Mining project continued progressing towards its objective of achieving 1,000 tonnes per day installed capacity by year-end and announcement of commercial production early in 2024,” said Mike Struthers, CEO. “Following a challenging operational performance in Q3 2023 at Campo Morado, in large part due to reduced throughput as part of a new optimization program by our colleagues at Ausenco, we now have, for the first time in the history of this operation, an understanding of how to correctly operate the project to achieve consistent performance and profitability.”

“We are highly encouraged by the results of our 2023 exploration drilling program at Media Luna West, which continue to enhance our confidence in the mineralized potential of the ever-expanding Media Luna Cluster. While exploration at Media Luna West is still at an early-stage relative to the nearby Media Luna and EPO deposits, the latest results, when combined with historical results and a new structural model, highlight the potential for Media Luna West to become a future source of feed for the Morelos Complex. Follow-up drilling at Media Luna West is planned for 2024 as we advance this zone to the next exploration stage.”

“Recovering gold and silver is an important step towards full-scale production and the first of many ounces to be produced from Pilar.” stated Brodie Sutherland, CEO. “Pilar has returned high head grade, well above the average of open pit mines in the region. The recoveries are also consistent with local operations, with the advantage at Pilar for even higher recovery through gravity and agitated leach methods. More gold and silver are yet to be extracted from the material in hand while we continue to advance our near-term permitting initiatives towards mine development.”

“Resource expansion drilling at Copala, both to the north and southeast, continue to highlight a robust precious metals structure well beyond the January 2023 resource boundary,” commented Michael Konnert, President & CEO. “New step out drilling has extended the total mineralized strike length of Copala by approximately 100 metres to the south and it remains open in both directions. Additionally, drilling has confirmed the continuity of the high-grade Copala 2 vein located between Tajitos and Copala main which now measures a total of 600 metres in mineralized strike.”

James Anderson, Chairman & CEO said, “The past producing El Horcon mine is ideally situated to become a satellite mining operation that could significantly expand Guanajuato Silver’s production profile. The El Horcon mine fits well within our strategy of further consolidating the Guanajuato mining district as we look to take advantage of the excess processing capacity of our two operating mills in the area. In addition to being able to immediately access low-cost mineralized material from the existing stockpile, we are confident that the development programs we have planned for 2024 will add value to El Horcon and allow us to rapidly advance this exciting project.”