ECU Silver Mining Inc. (TSX:ECU) is pleased to report the results from developing a new vein on the Nazas property which included assays grading up to 6.18 grams per tonne (g/t) gold (Au) and 2,755 g/t silver (Ag). The Nazas property is under option to ECU Silver with the possibility of ECU Silver acquiring a 100% interest for payments totalling US$1,100,000 over the next two years.
Mexico Mining News
Korea Resources Corporation as says that its Boleo copper project in Mexico with Canada’s Baja Mining Corporation will begin production in 2013, supplying South Korea with about 30% of the mine’s output. The mine on Mexico’s Baja California Peninsula is expected to produce 38,000 tonnes of copper annually for 23 years starting in the H2 of 2013, according to the the Seoul based company which owns 30% of the project along with other Korean partners. Baja Mining holds the remaining 70% of the mine.
Mining Weekly reported that Baja Mining’s (TSE:BAJ) copper/cobalt/zinc project in Mexico is progressing on schedule. The market news is quoted as saying: “The Boleo project is currently meeting its scheduled milestones, with environmental compliance and surface mining activities continuing in targeted areas, the processing plant and road earthworks well underway, in addition to the site camp, utilities and services being finalized,” the company said in a statement.
Silvermex Resources Inc. ("Silvermex") (TSX:SLX) announces the filing of its 2010 annual report on Form 40-F with the United States Securities and Exchange Commission ("SEC"), pursuant to section 13 of the United States Securities Exchange Act of 1934.
Silver Bull Resources Inc. (SVB - TSX, SVBL - NYSE - Amex) is pleased to announce the closing of its recently announced private placement financing with Coeur d'Alene Mines Corporation (NYSE: CDE, TSX: CDM). Coeur d'Alene purchased 7,353,000 shares of Silver Bull common stock at $0.68 per share for total gross proceeds of US$5.4 million.
Torex Gold Resources Inc. (TSX:TXG) continues to encounter high grade gold mineralization in step-out drilling to the east of the southern end of its El Limon deposit. The extension of the deposit by some 280 meters to the east could more than triple the known width of the deposit at that southern end, which continues to be open further to the east.
Levon Resources announced that it has today closed a previously announced financing pursuant to which the Company has issued 20,600,000 common shares at a price of $1.95 per share for gross proceeds of $40,170,000. The company intends to use the net proceeds of the Offering for continued exploration of the Cordero property located in Chihuahua, Mexico, and for working capital.
Scorpio Mining reports record silver production in Q1 2011 and increases mine operating earnings by 123% from Q4 2010
Scorpio Mining achieved record mine operating earnings of $12.5 million in Q1 2011, an increase of 823% over mine operating earnings in Q1 2010 and 123% over mine operating earnings in Q4 2010. Net earnings were $6.6 million or $0.03 per share (basic) for Q1 2011 compared to $18.6 million or $0.17 per share (basic) for Q1 2010. The Q1 2010 net earnings included a $19.8 million gain on dilution and deconsolidation of Scorpio Gold Corporation ("Scorpio Gold"). Basic earnings per share of $0.09 in Q4 2010 was due to the inclusion of $12.4 million of non-cash corporate tax recoveries.
Baja Mining Corp. (TSX:BAJ) is pleased to announce the commencement of surface mining activities at its 70% owned Boleo copper-cobalt-zinc project ("Boleo"), located near Santa Rosalia, Baja California Sur, Mexico. Beginning in the week commencing May 2, 2011, the Company's surface mining team completed an initial machine operator training program and commenced mining activities to develop the surface facilities and underground mining portals that are scheduled for operation later this year.
Minefinders Corporation Ltd. (TSX:MFL)(NYSE Amex:MFN) today announced updated gold and silver mineral reserves and resources for the Dolores Mine. Fiscal 2010 marked the first meaningful exploration drilling program at Dolores since the commencement of the development of the mine in 2006 and this is the first update of reserves and resources for Dolores since 2008.
Mexico massively ramped up its gold reserves in the first quarter of this year, buying over $4 billion of bullion as emerging economies move away from the ailing U.S. dollar, which has dipped to 2-1/2-year lows. The third biggest one-off purchase of gold by any country over the past decade took Mexico's reserves to 100.15 tonnes -- or 3.22 million ounces -- by the end of March from just 6.84 tonnes at the end of January, according to the International Monetary Fund and Mexico's central bank.
Fourteen miners in northern Mexico are trapped underground after a gas explosion, BBC News reported Tuesday. According the story, rescuers have been unable to contact the men due to high levels of methane gas in the mine shaft. The accident happened close to the U.S. border at a small artisinal mine in the northern state of Coahuila.
Canada's Primero Mining Corp said the month-long strike at its San Dimas gold-silver mine in Mexico had ended and it did not expect the strike to hurt its full-year production outlook.
Newstrike Capital Inc. (TSX-V:NES) is pleased to announce additional drill results from the company's 100%-owned Ana Paula Project, Guerrero Gold Belt (GGB), Mexico. The reported drill holes represent a cross section of targets from ongoing widely spaced step out and infill drilling that continues to intercept gold mineralization over multiple mineralized horizons.
Fresnillo Plc (FRES.L: Quote), the world's largest primary silver producer, said silver output declined in the first quarter, although gold production rose to a record. The Mexican precious metals miner (FRES.MX: Quote) said silver production fell 2.2 percent to 10.1 million ounces, including output from the Silverstream agreement, on lower ore grades at the Fresnillo mine.
Crown Solutions, a Veolia Water Solutions & Technologies company, is to supply the initial equipment for a new Water Treatment Plant (WTP) to Coeur Palmarejo in Mexico. The Palmarejo mine is an operating silver-gold mine in the […]
Vancouver-based Mercator Minerals has acquired Creston Moly Corp. in a stock and cash deal amounting to C$195 million, Mercator announced Tuesday in a press release. Under the arrangement, Creston shareholders will receive 0.15 of a Mercator common share and $0.08 in cash, for each common share of Creston — representing a respective 43% and 40% premium on the companies' share prices as of market close on Friday.
Azure Minerals, a Mexico-focused precious and base metals explorer, said today it has entered into an agreement to form a joint venture with a Japanese state-owned corporation to explore the El Tecolote Project in Sonora, Mexico. According to the press release, Japan, Oil, Gas and Metals National Corporation (JOGMEC), a Japanese state-owned entity, will spend $US5 million over three years, in order to earn a 51% interest in El Tecolote. The company can earn another 19% stake by spending a further $8 million, which would take its total equity in the project to 70%.
International Minerals Corporation (TSX: IMZ) (SWISS: IMZ) reports updated mineral reserve and resource estimates for the Pallancata silver mine, Peru, jointly owned by IMZ (40% interest) and Hochschild Mining plc ("Hochschild", 60% interest) based on information supplied by Hochschild, the mine operator, as of December 31, 2010.
Arian Silver Corporation (TSXV: AGQ) (AIM:AGQ) (FRANKFURT: I3A), a silver exploration, development and production company with a focus on projects in the silver belt of Mexico, is pleased to report assay results from a further 11 holes recently drilled at its 100%-owned San Jose Property in Zacatecas State, Mexico.
Shareholders of New York-based Capital Gold (TSX:CGC) have approved a merger with TSX-listed Gammon Gold, BIV Business Today is reporting. The approval takes Timmins Gold Corp. out of the picture as a potential buyer of Capital Gold:
A Mexican tribunal ruled in favor of Grupo Mexico in its fight to merge its two railroad units, throwing out a complaint by competition authorities, the company and the antitrust regulator said on Monday. Grupo Mexico (GMEXICOB.MX: Quote), which owns copper mines in Mexico, Peru and the United States, also operates Ferromex, Mexico's largest railroad company. In 2005, Grupo Mexico bought another rail line, Ferrosur, through a subsidiary.
Newstrike Drilling Expands Gold Mineralization at Ana Paula Project Intercepts 52.63 Meters of 6.9 g/t Gold
Newstrike Capital Inc. (TSX-V:NES) said drilling continues to intercept and expand on the gold discovery at the company's 100%-owned Ana Paula Project, Guerrero Gold Belt (GGB), Mexico. Step-out drilling continues to intercept multiple mineralized intervals in all drill holes completed to date, and has expanded the area of mineralization to 700 by 1100 meters.
Great Panther Silver increased its profits by one third over last year, the TSX and NYSE-listed company reported on Wednesday. Revenues were $42.2 million in 2010, a 33% increase over the previous year. Fourth-quarter profits were $13.8 million, up 40% from the same period in 2009.
Timmins Gold (TSX-V:TMM) has sweetened a takeover deal for Capital Gold (TSX:CGC) just days before Capital’s shareholders vote on a merger with another company, according to a report in BIV Business Today: On Tuesday, the Vancouver-based gold producer upped its offer for Capital Gold by US$0.25 per share. The increased offer provides Capital shareholders with a total consideration of US$5.89 per share, valuing the New York-based gold producer at approximately $361 million.