Category: Exploration and Development

“The material economic improvement resulting from our recent acquisition of the Potreritos project requires an adjustment to our schedule in order to accommodate its additional resources into the pre-feasibility study,” said Chris Frostad, President and CEO, Virgin Metals Inc.

Indicated Resources: 6.2 million tonnes containing 146 million ounces of silver grading 728 g/t silver
Inferred Resources: 7.1 million tonnes containing 85 million ounces of silver grading 373 g/t silver

Avino is pleased to announce the sale of all its remaining copper concentrate produced in 2011 from stockpiles of material left from previous mining of the Avino Vein located on Avino’s property near Durango, Mexico. The concentrate grades approximately 2.2kg/t silver and 25g/t gold.

ABOT Mining Co., a U.S.-based mining company engaged in the discovery, acquisition, development, production and marketing of precious and semi-precious metal properties, on Friday announced that it formulated an agreement with Rising Star S.A. de C.V., a Mexico-based company, under which it will acquire a 50% equity interest in Rising Star’s Mexican mineral property, the Aztlan 8B Project.

Camino Minerals Corporation reports that it has received final assay results from the remaining 19 holes at its 100% owned Rodeo Gold Project, located in Durango State, Mexico, with hole RO-11-026 returning 1.06 g/t Au and 13.00 g/t Ag over 102.25 metres, including 2.58 g/t Au and 5.00 g/t Ag over 19.15 metres.

Torex Gold Resources Inc. (TXG.TO) is up more than 11% this morning at $1.57 a share and the miner saying it has signed a 30-year lease agreement for 507 hectares of land to be used for construction, mining and gold processing at its Morelos gold project in Guerrero State, Mexico.

Silver Scott Mines, Inc. is pleased to announce the completion of a 6 year extendable surface land agreement for exploration within the 1500 hectare mineral concessions and mining or high impact disturbance on 20 hectares. The agreement was the completion of proposed mining with the Divisaderos Ejido. The ejido vote was unanimous in favor of the proposal. The prior low impact surface agreement continues in effect. This completed agreement allows the company to move forward with a planned production scale bulk tonnage leach test.

Bacanora Minerals Ltd. is pleased to announce it has successfully met its objective of proving the lateral continuity of the hectorite-polylithionite clay mineralization on the Ventana Lithium deposit. Bacanora intends to generate a National Instrument 43-101 compliant Lithium Carbonate Equivalent with an initial resource estimate on Ventana in Q1 2012. This round of drilling follows up on the impressive results from the first drill program which included drillhole LV-04 which returned a thick section of 54.25 metres averaging 2,713 ppm Li (1.45% Li2CO3) over the entire sample width. (see Bacanora’s news release dated Jan 21, 2011).

Red Tiger Mining Inc. is pleased to report that contractors have advanced the construction and development of the Company’s Luz del Cobre Copper Project (Sonora, Mexico) to an overall 75% to 80% of completion. M3 Engineering & Construction Inc. is continuing to supervise the site construction as the EPCM (Engineering, Procurement, and Construction Management) Contractor.

Goldgroup Mining Inc. is pleased to announce that additional diamond drill holes at its Caballo Blanco gold project in Veracruz, Mexico have yielded significant gold intercepts, expanding the La Paila oxide gold zone to the west and southwest. All ten drill holes reported below (see Tables 1 and 2 and the drill hole location map) are part of the ongoing drill program to define and to expand the southwestern flank of the La Paila gold zone as the zone currently remains open in this direction.