Category: Exploration and Development

Mexus Gold US is a company engaged in the evaluation, acquisition, exploration, development and production of mining properties and conducts salvage operations for the recovery of precious metals.

Management of Sierra Madre Developments Inc. is pleased to announce that the Company’s wholly owned Mexican subsidiary Minera Sierra Madre Exploraciones SA de CV, has signed a contract with Procesadora de Minerales de Durango SA de CV to complete a minimum of 2,500 meters of core drilling at the Company’s Penoles Project in the Durango Silver Belt, Mexico. The Project hosts a partially defined oxide gold prospect (El Capitan), two historic silver mines (Jesus Maria and San Rafael) and multiple early stage targets in a land package that covers more than half of the historic “Penoles Mining District”. Sierra Madre has an option to earn up to a 65% interest from Riverside Resources Inc. by incurring exploration expenditures and making cash and share payments to Riverside and the underlying property owners.

Goldgroup Mining Inc. has received its first set of written comments on its primary environmental permit for mining, the Environmental Impact Statement (“EIS”), at the 100%-owned Caballo Blanco gold project, from the Secretaría de Medio Ambiente y Recurso Naturales (“SEMARNAT”), also known as the Ministry of Environment and Natural Resources. The EIS was submitted by Goldgroup to SERMANAT on December 16, 2011. SEMARNAT, which acts as the federal environmental regulatory agency in Mexico, provided its first written response to Goldgroup in line with the typical response time of 60 working days.

Pacific Cascade Minerals Inc. is pleased to report further drill results from its Phase One exploration program on the El Centenario Project, Durango, Mexico. The first phase of exploration has targeted the La Esperanza silver, zinc, and lead mineralized structural zone.

CM11-390: 274 g/t (8.0 opt) silver with 5.5% lead and 17.2% zinc over 8.08 metres.
Including: 778 g/t (22.7 opt) silver with 14.9% lead and 18.2% zinc over 1.63 metres.

Rome Resources Ltd. is pleased to announce that it, through its wholly-owned subsidiary Roma Recursos de Mexico, S.A. de C.V. has entered into an agreement with Riverside Resources Mexico, S.A. de C.V., the subsidiary of Riverside Resources Inc., whereby Riverside Mexico can earn up to a 75% interest in six mineral concessions comprising 6,539 hectares located in the Inguaran Project, Michoacan, Mexico. In order to exercise its initial option to acquire a 51% interest in the Property, Riverside Mexico must complete at least $3,000,000 worth of exploration expenditures on the Property by March 2, 2015. If this first option is exercised, Riverside Mexico will then have a second option to increase its interest to 75% by incurring an extra $2,000,000 in exploration expenditures by the second anniversary of the date the Initial Option was exercised.

Torex Gold Resources Inc. is pleased to announce that its wholly-owned subsidiary, Minera Media Luna S.A. de C.V., has signed a long-term, common land lease agreement with the Real del Limon Ejido for all of the remaining common use land that is required (222 hectares) for the future construction, mining, and processing of gold at its Morelos Gold Project in Guerrero State, Mexico.

Pan American Goldfields Ltd. is pleased to announce the mineral production and revenues received from its Cieneguita Project located in Chihuahua, Mexico for the third quarter ending November 30th, 2011.

California Gold Corp. recently announced that it is planning to start a drilling program at its AuroTellurio Project located near the town of Moctezuma in Sonora, Mexico. Diamond drilling operations, involving a total of 3,000 meters of core drilling aimed to test three specific targets, are scheduled to commence in April 2012.

Bell Copper Corporation is providing the following update on its La Balsa project in Michoacan, Mexico.