Category: Exploration and Development

SilverCrest Mines Inc. is pleased to announce it has completed its initial resource estimation for its La Joya Property in Durango, Mexico. Inferred Resources within the Phase I area are estimated at 57.9 million tonnes grading 28 gpt silver, 0.18 gpt gold, and 0.21% Cu. Initial resources contain approximately 51.3 million ounces of silver, 333,400 ounces of gold (16.7 million ounce of Ag Eq.) and 270.3 million pounds of copper (33.9 million ounces Ag Eq.) for a total of 101.9 million ounces silver equivalent* (Ag Eq) using a cutoff grade of 15 gpt Ag Eq.

El Tigre Silver Corp. is pleased to review its 2011 exploration program and announce objectives of the 2012 exploration program at its El Tigre silver project, located on El Tigre’s 431 square kilometer concession ownership in Sonora, Mexico.

Serengeti Resources Inc. has received results from a recently completed Induced Polarization survey on its Victoria project, located in the state of Chihuahua, Mexico. The survey has identified a strong, 50 to 200 meter wide, 2.2 kilometer long, open-ended, IP chargeability anomaly associated with outcropping gold-silver mineralization, grading up to 2.0 g/t Au, 5.6 g/t Ag over 22 meters.

Almaden Minerals Ltd. is pleased to report results from exploration programs, regional and project specific, carried out by the Company outside of our 100% owned Tuligtic project. In 2011 the Company was primarily focussed on an expanded drill program at the Ixtaca gold-silver zone of the Tuligtic project where 86 holes were drilled for a total of 31,016.64 meters. Despite the focus at Tuligtic the Company continues to prospect for new projects and has also been advancing other projects already in Almaden’s large property portfolio.

VANCOUVER, Jan. 4, 2012 /PRNewswire/ – Victory Resources Corp (TSXV: VR) (the “Company”) announces the results of the third hole, RDH 08 in the 2nd stage diamond drilling program of Victory Resources Corp. in their optioned La Reforma property northeast of Choix, Sinaloa State as shown in the table below.

Sonora Resources Corp., a mineral exploration and development Company focused on the acquisition and development of international silver and gold mining properties, is pleased to advise that underground fieldwork is currently underway at the Los Amoles silver project in the State of Sonora.

Drill Hole RCHE-11-220 intersected two separate intervals with 22.5 meters containing 2.5 grams of gold per tonne and 30 meters containing 1.1 grams of gold per tonne.

Drill Hole RCHE-11-221 intersected two separate intervals with 10.5 meters containing 1.7 grams gold per tonne and 18 meters containing 1.0.

Drill Hole RCHE-11-222 intersected 40.5 meters containing 1.6 grams gold per tonne.

Key developments for Phase 1 construction and exploration results include:

– Construction of Phase 1 remains on time and budget and is scheduled to be completed by mid-2012. Phase 1 production is expected to average 30,000 ounces of gold per year. Phase 2, for which a feasibility study is being completed, is expected to contribute an additional 5 million ounces of silver and 5,000-10,000 ounces of gold per year.

– The mining fleet for Phase 1 has arrived and pre-stripping of the open pit mine began on December 9th and will continue during the first half of the year. Stockpiling of ore is expected to begin in the coming weeks. Ore is expected to be delivered to the heap leach pad by mid-2012.

– Engineering for the crushing, process plant and heap leach facilities has been completed. Pre-existing equipment has been disassembled and removed from site. The new crushing and process plant is expected to be completed by May-2012. (A photo library showing bi-weekly progress can be viewed by clicking here).

Prospero Silver Corp. announced today the results of an 870m diamond drill program at its Campana project in central Durango State, Mexico. Holes CAM-11-01 and CAM-11-02 focussed to the east and north of historic drilling (2007) that showed disseminated gold and silver mineralization over intersections up to 330m in length. The two-hole program, just finished, tested a zone characterized by chargeability and resistivity highs (Figure 1) as outlined by Z-TEM and IP surveys conducted earlier this year (refer to news releases of July 13, 2011 and August 29, 2011).

Baja Mining Provides Update on Governance and Boleo Project • Independent Chair of the Board Appointed • • Boleo Project Progress Continues • • Drilling Program Advances, With Assays Expected in Q1 2012 • Vancouver, January 3, 2012 – Baja Mining Corp. today announced the appointment of former independent Lead Director Giles Baynham as independent Chair of Baja’s Board of Directors, the adoption of several new policies relating to corporate governance, and provided an update on the Company’s 70% owned, Boleo copper-cobalt-zinc project located in Baja California Sur, Mexico.