Category: Exploration and Development

Southridge Enterprises Inc. is pleased to announce that it has commenced a 50,000 meter exploration drill program at Gran Cabrera Gold & Silver Mining properties in Mexico, where previous underground workings stated grades from this area in the order of 200-500 gram Silver and 3.4 gram Gold based on average assays from chip and channel samples. Historical information stated that ore from the Gran Cabrera mines could obtain assays in the order of 9 kilograms (290 oz) silver and about 10.3 grams (0.3 oz) gold in bulk operations, all high-end bonanza grade values.

Newstrike Capital Inc. announces the results from 4,948 meters of drilling completed this period as part of the 2012 drill program in progress at the Company’s 100%-owned Ana Paula Project in the Guerrero Gold Belt. The results are from the ongoing delineation program in the southeast quadrant and from new exploration in the southwest quadrant. Drill results from the Breccia Zone delineation program remain in strong gold mineralization and further follow up drilling is planned.

Source Exploration Corp. is pleased to report that the first two step-out holes drilled proximal to the high-grade discovery hole LM-11-SC-45 have intersected significant copper and magnetite mineralization indicative of strong potential to expand this high-grade area at Las Minas. The discovery hole graded 15.89 g/t gold (Au), 12.98 g/t silver (Ag) and 2.25 percent copper (Cu) over 10.0 metres (m) – see press release dated January 26, 2012 .

Argentum Silver Corp. has commenced a second phase drilling program at its 1053-hectare Coyote Property in the State of Jalisco, Mexico. The second phase diamond drill program is aimed at demonstrating grade and thickness continuity on the El Tajo vein as well as some scout drilling on the La Colorada and La Valenciana veins. Sixteen drill holes are planned totaling 2,000 metres. Combined, the El Tajo and La Colorada veins have been traced for over a 900 metre strike length on surface. In addition, a new vein system called La Valenciana has been defined approximately 750 metres to the south-west of El Tajo. The La Valenciana vein system is traceable on surface for over 450 metres as a series of exposures and underground workings supported by trenching, geophysics, and soil and rock sampling.

Bandera Gold Ltd. announced today it has signed a non-binding Letter of Intent with Minera San Jorge, S.A. de C.V., a Mexican corporation, and its affiliates to settle the existing disputes for the mining properties located in Mexico referred to as the Cinco Minas and Gran Cabrera properties, whereby the Company will sell its interest in the Properties to MSJ for a minimum of US $6,500,000. The Company negotiated the Letter of Intent with MSJ using a third-party facilitator.

Orko Silver Corp. is pleased to announce that a field exploration program has commenced on the Esmeralda Targets area of the La Preciosa Silver-Gold Project in Durango, Mexico. The Esmeralda Targets area, located 12 kms northwest of Orko’s La Preciosa deposit, consists of a series of major fault controlled blocks, with three historic mining workings called El Cristo, La Blanca and La Esmeralda.

Mexican mining firm Grupo Mexico said on Tuesday it had filed a motion against a ruling by the Delaware Supreme Court, which had ordered it to pay around $2 billion to Southern Copper Corp over an asset sale.

Oroco Resource Corp. is pleased to provide an update on the mapping and sampling program currently underway on its 100% owned Xochipala Property in Guerrero State, central Mexico.

Xtierra Inc. today announced the results of a 2,032 metre 9-hole programme of infill drilling on the main Bilbao deposit. The objectives of the campaign were to check grade variability and to increase confidence in the resource blocks that would be mined within the first three to four years of underground production.

Sundance Minerals Ltd., is pleased to announce that it has entered into an option agreement with Paget Minerals, Corp., whereby Paget can earn up to a 60% interest in the San Ricardo Gold-Silver Property in northern Sonora State, Mexico. The Property is located within the prolific state of Sonora in the vicinity of numerous porphry, mesothermal and epithermal gold-silver-copper deposits.