Paramount Gold and Silver Corp. reported today that results from the Preliminary Economic Assessment for its 100%-owned San Miguel Project in Mexico are scheduled for release in late February, 2013. Exploration drilling also continues on key targets in the high-grade Don Ese area.
Cayden Resources Inc. is pleased to announce the sale by Cayden’s Mexican subsidiary LC Mines, S.A. de C.V. of two blocks of the eastern portion (15%) of its Morelos Sur Concession “Morelos East Concession” to Desarrollos Mineros San Luis, S.A. de C.V., Goldcorp’s subsidiary which owns and operates the adjacent Los Filos mine in Guerrero State, Mexico.
Fortuna Silver Mines Inc. is pleased to announce that the transaction to acquire the Taviche Oeste Concession (Fortuna news release January 24, 2013) has now closed. Fortuna has acquired a 55 percent interest in the property for a US$4 million cash payment and entered into an option agreement whereby upon announcement of a production decision, Fortuna may purchase the remaining 45 percent interest for a US$6 million payment. The Taviche Oeste concession is subject to NSR royalties totaling 2.5 percent.
Geologix Explorations Inc. is pleased to announce that recent prefeasibility study optimization metallurgical test work indicates the potential to increase overall gold recovery in the sulphide mill design by 16.4% and silver recoveries by 31.4% compared to the April 2011 Preliminary Assessment Study completed by SRK Consulting (Canada) Inc. Sulphide processing material in the PA accounted for 90% of the total processed material (10% Oxide).
Patriot Minefinders Ltd. is pleased to announce that it has engaged Arseneau and Associates to conduct a review and update of the historical NI 43-101 technical report on KM 66 that was prepared by Wardrop Engineering (now Tetra Tech) for Great Panther Silver Ltd., with the goal of establishing a current NI 43-101 compliant resource estimate in the La Gloria and Las Palmitas areas.
Chesapeake Gold Corp. is pleased to release the positive results of a Pre-Feasibility Study on its 100% owned Metates gold silver project located in Durango State, Mexico. The NI 43-101 compliant PFS incorporates significant scope changes and updated engineering work as well as updated capital and operating cost estimates since the Preliminary Economic Assessment dated April 25, 2011. Both the PEA and the PFS were prepared by M3 Engineering & Technology of Tucson, Arizona and other prominent consultants who have recent project development experience in Mexico. All costs are in US Dollars.
Skeena Resources Limited is pleased to provide the results of metallurgical test work on drill core from the Company’s 100% owned Tropico copper-platinum-palladium-gold Project, located 25 km north of Mazatlan, Sinaloa State, Mexico.
Lake Shore Gold is selling all of its Mexican properties to Revolution Resources in order to keep its management team and finances focused on its Canadian assets.
Almaden Minerals Ltd. is pleased to announce the results of preliminary scoping-level metallurgy performed by Blue Coast Research Ltd, and reviewed and summarised below by Dr. Andrew Bamber, P.Eng., as well as the maiden National Instrument 43-101 compliant Mineral Resource Estimate on the Ixtaca Zone of its 100% owned Tuligtic Gold-Silver Project Mexico performed by Giroux Consultants Ltd. The Ixtaca Zone is a gold (Au) and silver (Ag) deposit with roughly equal values per tonne of each metal. The resource is presented in gold equivalent (AuEq) ounces and cut-offs calculated based on price ratios. The newly received preliminary metallurgical test results indicate non-optimised gold and silver recoveries that are roughly equivalent for each geological domain. The deposit is mostly hosted by carbonate units and crosscutting dykes and overlying volcanic rocks. In the base case roughly 90% of the deposit”s AuEq ounces are hosted in the basement rocks, the remaining 10% in volcanic rocks. While the preliminary metallurgical results are considered excellent, further test work is planned to improve and optimize recoveries for all the different geologic units.
Cayden Resources Inc. is pleased to announce that it has acquired an option to buy out the royalties on its Reduccion Morelos Sur and Tenantla claims as part of a planned sub-division of the concessions into separate concession areas. These areas together comprise the wholly owned Morelos Sur property. Cayden’s Mexican subsidiary will be applying to divide these concessions into three new parcels consequent upon an amending agreement signed yesterday with Industrial Minera Mexico, S.A de C.V. and a Grupo Mexico subsidiary. The buy-out option was acquired as part of the amending agreement.
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