Excellon Resources Inc. (“Excellon” or “the Company”) is pleased to report fourth quarter and year end production updates for 2011 and that it has exceeded both fourth quarter and annual silver production targets for 2011 by approximately 40% and 4.5% respectively. The Company also reports that at year-end, it held approximately US$22 million in cash.
Pan American Silver Corp. is poised to boost production in mineral-rich Mexico through the proposed $1.5-billion acquisition of Minefinders Corp., a fellow Vancouver-based company with an aggressive growth strategy.
Copper Creek Gold Corp. is pleased to announce that the Company will soon commence a core drilling program on its Santa Lucia gold-silver project located 200 kilometres southeast of Hermosillo in Sonora, Mexico. Copper Creek may earn a 60% interest in Santa Lucia from Kootenay Gold Inc. (KTN-V) by spending $2,000,000.00 in exploration and making modest cash and share payments to Kootenay over a 4 year period. It is anticipated that drilling will begin in the second week of February, 2012.
Juanicipio: Preliminary 2012 Exploration Budget increased 89% over 2011 Preliminary Budget Cinco de Mayo: CM11-383 intersects 4.19 metres grading 183 g/t silver, 6.80% zinc and 12.3% lead
Bearing Resources Ltd. is pleased to announce the Company has closed the $180,000 private placement announced on December 19, 2011. The non-brokered private placement consisted of 428,572 units. Each Unit is comprised of one common share of the Company and one half of a common share purchase warrant. The Units were offered at a price of $0.42 per Unit. Each whole Warrant will be exercisable for one common share of the Company until January 18, 2013 at an exercise price of $0.60. The securities bear a four month and one day hold period.
TORONTO, ONTARIO, Jan 20, 2012 (MARKETWIRE via COMTEX) — US Gold Corporation (“US Gold”) and Minera Andes Inc. (“Minera Andes”) are pleased to announce that at each of their respective meetings on January 19, 2012, shareholders voted in favour of the proposed business combination between US Gold and Minera Andes, pursuant to which US Gold will acquire Minera Andes and be renamed McEwen Mining Inc. (“McEwen Mining”).
Catalyst Copper Corp. today announced an updated Measured plus Indicated Resource of 354.1 million tonnes grading 0.41% Cu; 0.043 g/t Au; 2.3 g/t Ag at its La Verde copper porphyry deposit in Michoacán State, Mexico. This represents a 71% increase in tonnage and 54% in contained copper over the previous resource released in January, 2011 (Table 1)
San Marco Resources has completed approximately 1625m of drilling at its 100% owned Tecomate property in Sinaloa State, Mexico. Exploration to date has focused on a 200 hectare area (Main Zone) of this 12,300 hectare property. The primary target area was the Los Hondidos Zone, where recent surface exploration indicated a 60 – 80m wide mineralized shear structure. This drill campaign is the first program to test the vertical extent of surface mineralization discovered by Company geologists over the last year. Tecomate is believed to be an intermediate sulphidation system, where gold, silver, zinc, copper and lead appear to be collectively important to potentially economic mineralization. Drilling in the Los Hondidos Zone indicates the shear structure is 80m wide, where drilling intersected it 80 -120m below surface. Three of five drill holes intersected significant mineralization in various parts of the structure. Preliminary analysis indicates a specific fault/feeder zone hosts higher grade mineralization which is flanked by parallel precious and base metal mineralization, and is open along strike and at depth. Drill intercepts are in oxide or mixed oxide/sulphide zones.
Guerrero Exploration Inc. is pleased to announce it has now successfully staked an additional 42,682 hectares of highly prospective land known as the Cibola property in the Guerrero Gold Belt.
Excalibur Resources Ltd. is pleased to announce that it has completed a non-brokered private placement of 4,833,331 common shares at $0.30 per share for a total of $1,450,000. Proceeds will be applied to the Company’s Catanava gold production project in Mexico, for potential acquisitions and to working capital.
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