Category: Exploration and Development

Mexican Gold Mining Corp. is pleased to announce the favourable resolution of the claims dispute concerning certain lands that overlap a portion of the Company’s Pepe mineral concessions at its Las Minas Project in Mexico.

Initial drill holes intersected high-grade silver from surface drilling located 50m to the south and 150m up dip from previous underground mining and drilling at the San Ramon Mine. A total of 3,726m of drilling in 14 holes has been completed in the San Ramon South area with IMPACT’s recently purchased surface diamond drill rig. The zone remains open up dip and to the south along strike for further extension.

The primary objectives of the drilling program are to better define the near surface, oxide gold potential of the porphyry gold oxide cap at California, evaluate the potential for deeper copper-gold porphyry sulfide mineralization underlying the oxide cap, test for north and west extensions of the California mineralization at California North and Jasper, and assess the breccia potential of Purisima East.

“A key pillar of the Torex strategy moving forward includes a fresh focus on exploration and we are pleased with the results from the 2021 drill program at the ELG Underground.”

Jason Simpson, President and CEO: “I would like to thank Orla’s team led by Jason Simpson, Chief Executive Officer, Andrew Cormier, Chief Operating Officer, Etienne Morin, Chief Financial Officer, and Sergio Saenz, General Manager of Camino Rojo, for the outstanding work and dedication that has enabled this achievement in the face of unprecedented challenges brought by the COVID-19 pandemic.”

Brian Leeners, chief executive officer of PMR, commented: “We have been financing and developing copper projects in Canada, the USA and Mexico for over 20 years and the opportunity at La Verde is the best I have seen over that time period, as it provides a potentially significant value proposition from the combination of a near-term production opportunity from the skarns and the exciting prospect of a new copper porphyry discovery in one of the world’s most productive copper belts.”

“Trenching is well underway and we look forward to starting drilling in the next few days.”, commented VP Exploration, Brodie Sutherland. “Our trench program at Pilar will assist in guiding future drill programs as well as provide bulk sampling material across our oxide targets for more advanced metallurgical test work scheduled to be completed in the New Year”

The 2021 program is based on angled drill holes oriented perpendicular to the re-modelled strike and dip of the deposit and is the first program that features drill holes that pass from the hanging wall of the North Zone deposit into the footwall and which also features a full suite of assay information that includes copper, molybdenum, gold and silver.

Step-out exploration drilling from underground platforms ahead of production at San Jose has continued to define continuity of key mineralized structures, with 25,064 meters drilled in 59 holes since March 2021, targeting the Bonanza Hanging wall (Bhw), Trinidad Norte and Victoria mineralized zone (VMZ) structures.

Vizsla President and CEO Michael Konnert commented: “As we rapidly approach the deadline for drilling to be incorporated into the maiden Panuco resource estimate, anticipated in Q1 2022, new results from the Napoleon Vein continue to demonstrate the exceptional size and grade of the underlying system.”