Category: Exploration and Development

Source Exploration Corp. is pleased to report that it has begun an important ground-based magnetic geophysical survey over the central part of its concessions at the Las Minas property, State of Veracruz, Mexico. The area targeted by the survey measures approximately 5.5 kilometres by 2.5 kilometres and includes the recently reported high-grade Santa Cruz discovery area. Drilling at Santa Cruz returned several high-grade intersections, including 15.89 g/t/t Au, 12.98 g/t Ag and 2.25% Cu over 10 m (see press release dated January 26, 2012) and 7.90 g/t Au, 14.9 g/t Ag and 1.68% Cu over 2.0 metres (see press release dated October 18, 2012).

Avino Silver and Gold Mines Ltd. is pleased to announce the following October production results from its San Gonzalo mine operation located on the Avino property near Durango, Mexico.

Orex Minerals Inc. is pleased to announce the results of the first six holes of the 12,000 metres Phase-II diamond drilling program on the Coneto Gold-Silver Project in Durango, Mexico. A technical committee, with representation of Orex and its project partner Fresnillo PLC is managing this Phase-II program.

Corex Gold Corp. is pleased to announce it has executed a definitive agreement with Vale Exploraciones Mexico S.A. de C.V., a wholly-owned subsidiary of Vale S.A. wherein Vale may acquire up to a 65% interest in the Company’s Santana Project. The objective of this alliance is to further develop the copper-gold porphyry target on the Santana Project, in Sonora State, Mexico. The Santana Project is located approximately 80 km southwest of the world-class Mulatos district. The Corex claim block is situated along a trend of producing mines in the Sierra Madre Occidental.

Newstrike Capital Inc. announces the results from 8,035 meters in 15 drill holes completed this period at the Company’s 100%-owned Ana Paula Project in the Guerrero Gold Belt, Mexico. These drill results are from new exploration holes and from the Breccia Zone delineation program. The drill holes in this series are collared in the northeast and southeast quadrants and targeted the Lower Grade Mineralization.

Silver Bull Resources, Inc. is pleased to announce the drill results for the eighth batch of drill holes from the underground drill program twinning a series of “long holes” in a high grade silver zone situated at the eastern end of the Shallow Silver Zone on the Sierra Mojada Project in Coahuila, Northern Mexico.

McEwen Mining Inc. is pleased to announce exploration drill results from two locations within its 100% owned El Gallo complex, Sinaloa, Mexico. The first location is at El Gallo Phase 1, where production commenced in September. The second is Mina Grande, located in the north portion of the property (Fig. 1). Results from both areas continue to impress.

Canasil Resources Inc. announces that the exploration program at the Salamandra silver-zinc-copper project in Durango State, Mexico, continues to indicate the potential for a buried intrusive and carbonate hosted massive sulphide skarn/manto replacement system. Significant silver-zinc intercepts from prior drilling, results of both airborne and surface geophysical surveys, discovery of a high grade silver-copper-zinc vein outcrop, and widespread silver-copper-lead-zinc-arsenic-antimony geochemical anomalies observed in the 2011/2012 surface sampling programs indicate the potential for a large silver-zinc-copper mineralized system at the Salamandra project. The project geology and results from the exploration program to date show similarities to the San Martin mine located 80 km to the southeast of the project area, which is one of the largest silver – base metal mines in Mexico. A plan view of the project showing the previous 3D-IP geophysical and ZTEM airborne survey areas, past drill program and areas of surface geochemical anomalies is attached below, together with a conceptual section model of the potential mineralized system for reference.

Vane Minerals revealed changes to its Mexican partnership and announced what it said were satisfactory production figures from the Diablito mine.

Alliance Mining Corp. is pleased to announce that it has signed a binding Letter of Intent with a private Canadian company to acquire 22 mineral claims totaling nearly 50 square kilometres (4,872 hectares) primarily in the Uruachic district of northwestern Mexico. The land package puts Alliance in the heart of a prolific gold exploration area and includes the closest privately held claims, within four kilometres, to Fresnillo PLC’s important Orisyvo discovery (www.fresnilloplc.com). Fresnillo is the second-largest gold producer in Mexico and the world’s largest primary silver producer.