Precipitate Identifies New 850 meter Long Gold-in-Soil Anomaly at Ginger Ridge

VANCOUVER, BC – Precipitate Gold Corp. reported the discovery of a new gold-in-soil geochemical anomaly at the Ginger Ridge zone, resulting from the ongoing and wide ranging exploration activities within the Company’s 100% owned Juan de Herrera Project in the Dominican Republic.

Recent soil sampling at and around the Ginger Ridge Zone has identified a new gold-in-soil anomaly located approximately one kilometer ("km") east of the main drill test area. The multi-element soil geochemical anomaly has a northwest-southeast ("NW-SE") trend and exceeds 850 meters ("m") in length, with an average 100m width and is open ended to the southeast toward the eastern property boundary shared with GoldQuest Mining Corp. Currently, Precipitate field staff are carrying out comprehensive follow-up work that includes additional soil and rock sampling, detailed geological mapping and ground magnetic surveying. See the accompanying map or the Company’s website for the Ginger Ridge gold-in-soil anomaly illustration map. 

Soil sample coverage was recently extended to the east of the Ginger Ridge main anomaly to: test recently identified gradient IP geophysical anomalies in the area; and to investigate the geology on trend from GoldQuest’s Cachimbo ‘VMS-style’ discovery area, located 2.0km northwest of Ginger Ridge.

Jeffrey Wilson, Precipitate’s President & CEO stated, "We are very pleased that our expanded exploration work has identified a prospective new gold-in-soil anomaly situated immediately east of the main Ginger Ridge drill zone. The newly identified geochemical anomaly overlies a compelling geophysical target comprised of a combined coincident high resistivity and weak to moderate chargeability in a geological setting analogous to other mineralized zones that occur in the Tireo Formation. In addition, the discovery of a large barite subcrop, hosted in Tireo volcanic rocks, within the confines of the soil anomaly is an important g new development, as barite is commonly associated with Tireo gold systems. A more detailed program of surface sampling and geological and ground magnetic geophysical surveying in the vicinity of the barite subcrop is ongoing and will greatly assist with the geological interpretation of the anomaly as a possible near term drill target."

Exploration Program Update Near Metates Project

VANCOUVER, BC – Chesapeake Gold Corp. reported on the regional exploration program conducted near its 100% owned Metates project in Durango and proposed El Paso plant site in Sinaloa States, Mexico. Metates hosts one of the largest undeveloped gold, silver and zinc reserves in the world. Four precious and base metal projects with district scale potential have been identified and systematically advanced in 2016 and 2017. Currently, Chesapeake’s regional land position totals more than 85,000 hectares.

The four projects are strategically located along a prolifically mineralized corridor that parallels the Pacific coast and lies along the western margin of the Sierra Madre Occidental. Two projects, Yarely and El Paso, are located within 15 kilometers of paved highways and 25 kilometers of the El Paso plant site. Chesapeake believes this highly prospective, under-explored region could develop an organic pipeline of high value projects with potential synergies with the future development of Metates.

Yarely, Sinaloa on-going regional reconnaissance northwest of the El Paso plant site has identified a large area of extensive alteration hosting several mineralized hydrothermal systems. A systematic program of geological mapping, trenching, and channel sampling has defined three multi-phase mineralized zones (North, Central and South) within an open corridor over 4 kilometers long and up to 2 kilometers wide. Through staking and acquisition, Chesapeake has assembled a 70,000 hectare land package at Yarely.

Yarely North hosts a swarm of north-south trending high grade quartz carbonate epithermal veins hosted within coarse and medium grained sandstone Mapping and sampling has discovered over 100 historical workings from the Spanish Colonial period. The Spaniards mined high grade oxide veins to an average depth of 20 meters which overlies a sulfide zone at depth. Chesapeake has traced 12 veins ranging up to 11 meters in width each with an average strike length of 650 meters. Surface and underground channel samples returned values of 2 meters of 19.5 g/t gold and 505 g/t silver, 11 meters of 1.1 g/t gold and 42 g/t silver, 8 meters of 1.6 g/t gold and 33 g/t silver and 3 meters of 1.1 g/t gold and 805 g/t silver. The vein complex remains open laterally and along strike.

Yarely Central contains several wide zones of quartz stockwork and disseminated polymetallic mineralization hosted in highly altered sedimentary rocks. The mineralized area measures 1.5 by 2.0 kilometers. Channel samples collected from trenches reported 14 meters of 1.5 g/t gold and 143 g/t silver, 93 meters of 17 g/t silver and 36 meters of 0.7 g/t gold and 26 g/t silver. Preliminary sampling within breccia, veins and disseminations at Yarely South has discovered silver, copper and molybdenum mineralization with channel samples up to 83 g/t silver, 2.9% copper and 0.12% molybdenum. An 80 line-kilometer IP/Resistivity geophysical survey is currently underway. Preliminary results have defined anomalies that are coincident with the mineralized zones at both Yarely North and Central. At Yarely North, structures can be followed on the resistivity sections to depths of over 300 meters. At Yarely Central, a strong chargeability anomaly 500 meters wide indicates a sulfide-bearing body extends to over 400 meters depth. Two preliminary chargeability anomalies have been defined at Yarely South. One anomaly is coincidental with a 250 meter wide molybdenum mineralized breccia. The second anomaly is a blind 250 meter wide zone. The final interpretation of the geophysics program at Yarely will be integrated with the geology and geochemistry to prioritize drill targets. A 5,000 meter drill program is planned for Q3 pending permit approvals.

The El Paso district is located northwest of the town of Cosala and covers more than 150 square kilometers near the El Paso processing site. The district hosts extensive polymetallic exoskarn and intrusive-hosted quartz stockwork zones. Channel samples within wollastonite-magnetite-garnet skarn returned 69 meters of 2.2 g/t gold, 8 g/t silver and 1.1 % zinc and 50 meters of 0.6 g/t gold and 12 g/t silver within the quartz stockwork. A combined Magnetometer-IP/Resistivity survey is planned later this year to delineate drill targets.

Nicole is located 45 kilometers northwest of the Metates deposit within a regional hydrothermal alteration zone spanning over 12 square kilometers. Over a vertical extent of one kilometer, quartz breccia veins transition to disseminated and stockwork mineralization at depth. Channel samples from the upper levels e returned values of 7 meters of 3.1 g/t gold, 238 g/t silver and 0.3% zinc and 3 meters of 12 g/t gold and 450 g/t silver. Lower in the system, channel sampling of disseminated and stockwork mineralization has returned results of 135 meters of 0.8 g/t gold, 16 g/t silver, and 0.7% zinc and 35 meters of 0.7 g/t gold, 20 g/t silver and 0.5% zinc. Limited historic core drilling targeting the disseminated and stockwork mineralization returned intercepts of 30 meters of 1.2 g/t gold, 29 g/t silver and 1.5% zinc and 30 meters grading 0.7 g/t gold, 19 g/t silver and 0.7% zinc. A 45 line-kilometer IP/Resistivity survey has defined a large 1.0 by 1.5 kilometer coincident low resistivity/ high chargeability anomaly which underlies the area of drilling.

At San Javier, which is located 10 kilometers south of the Metates deposit. Reconnaissance stream sediment geochemistry followed by detailed geologic mapping and rock chip sampling led to the discovery of the San Javier project. Two different mineralized zones have been defined within a 15 square kilometer alteration zone. Sampling of the 4 kilometer long northeast trending quartz-silver stockwork zone has returned values of 60 meters of 71 g/t silver and 0.6% lead and 28 meters of 158 g/t silver and 0.3% lead. A 3 kilometer long northwest trending zone of structurally associated breccia has returned sample values of 48 meters of 1.0 g/t gold. An IP/Resistivity survey and trenching program is planned later this year.

"We are very excited by the exploration results from these emerging new districts" states Randy Reifel, President. "Generative studies and systematic work at Yarely has defined five mineralized zones that warrant drilling. A greenfield discovery at Yarely or El Paso would have the strategic advantage of capitalizing on any future development of a process plant and infrastructure for Metates.

Americas Silver Corporation Acquires Option on the San Felipe Property in Sonora, Mexico

TORONTO, ON – Americas Silver Corporation has entered into an agreement with Impulsora Minera Santacruz S.A. de C.V., a wholly-owned subsidiary of Santacruz Silver Mining Ltd., to acquire an option agreement between Impulsora and Minera Hochschild Mexico S.A. de C.V. By acquiring the San Felipe Option Agreement, the Company will have the right to acquire a 100% interest in the San Felipe property located in Sonora, Mexico for total consideration of $15 million in cash, payable in two staged payments. All amounts are in U.S. dollars unless otherwise indicated.

Darren Blasutti, President and Chief Executive Officer of Americas Silver, stated, “As we did when we acquired Scorpio Mining and the San Rafael project two years ago, we are taking a disciplined and highly accretive approach to our external growth strategy. The San Felipe acquisition provides our shareholders with an exciting development asset at an attractive valuation, which has the potential to add material high margin production scale that further enhances the tremendous value proposition of Americas Silver. While we remain highly focused on successfully executing the development of San Rafael on time and on budget, we are extremely excited to add this project to our pipeline. We believe it has the potential to drive the next leg of growth for our Company as we transition to a leading first quartile silver producer in 2018 and beyond.”

The San Felipe silver-zinc-lead project is located 130 km northeast of Hermosillo City, Sonora State in Mexico. A preliminary economic assessment (the “PEA”) was completed on the Property in 2014 and amended in June 2016, which envisioned an open pit and underground operation producing low cost silver, zinc and lead production. The PEA offered attractive returns despite being modelled at significantly lower zinc and lead prices than current spot.

Following the successful approach used by Americas Silver when it acquired San Rafael, the Company will be conducting a detailed evaluation program over the remainder of the year to re-assess the San Felipe property and advance the project towards a pre-feasibility study. The Company’s near-term evaluation program will be primarily focused on: (i) reviewing and improving the resource modelling; (ii) conducting geotechnical drilling and studies; and (iii) advancing the permitting process.

Endeavour Silver Expands High-Grade Silver-Gold Mineralized Zones In Terronera 

And La Luz Veins 

VANCOUVER, BC – Endeavour Silver Corp. reported that exploration drilling on the Terronera property in Jalisco State, Mexico continues to expand the recently discovered high-grade, silver-gold mineralized zones to greater depths within the Terronera vein and at shallow depths within the La Luz vein. Recent drilling in the Terronera vein has expanded the main high-grade, mineralized zone down to 400 meter (m) depths, still open to depth and to the southeast. In addition to the main zone, drilling intercepted mineralized footwall (Fw) and hangingwall (Hw) splays. In some places the splays merge to form one very thick mineralized zone (eg. Hole TR11-3). None of the drill results reported herein are included in the upcoming resource estimate and pre-feasibility study (PFS) for Terronera, and they indicate clear potential to expand resources within the Terronera vein.                    

Bradford Cooke, CEO of Endeavour Silver, commented, "Although narrower than the Terronera vein, mineralization in the La Luz vein is much higher grade, more gold rich, and shallower in depth compared to Terronera. Both sets of drill results indicate the excellent exploration potential of the property. Several other veins hosting high-grade mineralization on surface north of the Terronera vein are scheduled for drilling this year. Two drill rigs are currently working on the Terronera property."

Plateau Uranium High Grade At Pinocho Target

TORONTO, ON – Plateau Uranium Inc. reported strong initial drill results from the high-grade Pinocho Target at the Company’s Macusani Plateau Project in southeastern Peru. Initial results from six (6) diamond drill holes drilled on two (2) platforms are reported from Pinocho, which represents one of the most prospective of several previously untested higher grade, near-surface uranium targets on the Company’s extensive 910 km2 land package. Historical underground adits were established previously at Pinocho by IPEN ("Institute of Peruvian Nuclear Energy") 

Ted O’Connor, CEO of Plateau Uranium, said, "We are extremely pleased with these results from initial drilling at Pinocho. We have successfully located an extension of the known uranium and lithium resources to the southeast of the Kihitian Complex, and look forward to completing additional drilling to define the resource potential of this area. The higher grade uranium mineralization and consistent lithium grades we are intersecting at Pinocho, combined with the potential for enhanced uranium and lithium by-product recoveries announced in our previous news release, should serve to further enhance the already robust, low cost, project economics of our Macusani Project."

Analytical results have been received from the first 6 diamond drill holes from 2 platforms testing the Pinocho target. Typically, each platform can have up to 5 drill holes collared from the same location, depending on topography. Each individual platform usually consists of a vertical drill hole and 4 inclined drill holes drilled in opposing directions (NE, NW, SE & SW) at inclinations of between -45 degrees to -70 degrees from horizontal. All holes are drilled using large diameter HQ core.

The deeper uranium mineralized horizon (Manto B) has not been intersected in the currently reported drill holes. Manto B was expected to be located at approximately 150 meters depth below surface based on projections from the known mineralization at the Chitin Complex deposits located to the northwest, but appears to have been flushed away in this area by variations in the local water table and the presence of rivers at this elevation in this topographical depression.

Pinocho is located 2 km southeast of the Kihitian deposit, and is believed to be a possible extension of the same mineralization comprising the Kihitian Complex deposits. Approximately 194 meters (length) of adit development was established at Pinocho by IPEN in the early 1980’s. Adit development followed a high grade core of sub-horizontal uranium mineralization within a thicker disseminated uranium mineralized envelope. The exposed mineralization within the adits is open in all directions.

The Macusani Plateau uranium district hosts unique, low temperature supergene-surficial uranium deposits formed in peraluminous, alkaline volcanic rhyolite host rocks that are approximately 7 million years old. The host rhyolites are inherently enriched in U, Li, K Al and SiO2, as well as other Large-Ion Lithophile Elements (LILE – Cs, Rb, etc). The uranium mineralization is less than 1 million years old, as young as approx. 40,000 years old and comprised primarily of the hexavalent uranium mineral meta-autunite, and is totally unrelated to volcanic processes. The uranium was scavenged from the host rhyolites by melting glacial waters circulating through the porous rhyolites well after eruption and cooling, with uranium precipitation due to evaporation, water table fluctuation, changes in fluid flux and mixing with resident groundwater of subtly different chemistry. The low-temperatures and benign conditions of uranium deposit formation translates into uranium mineralization that is easily leached with weak sulphuric acid and represents one of the lowest potential production cost opportunities globally.

The lithium enrichment is widespread and related to the original chemistry of the host rhyolites. Lithium and other LILE metals were not mobilized during the uranium mobilization-deposition. Lithium is enriched in volcanic glass phases and biotite and is easily leached with warm sulphuric acid. The potential of producing lithium as a co-product of uranium production is beginning to be understood, but indications are that lithium co-production represents an excellent opportunity to add value to the Company’s robust uranium projects.

Quality Assurance & Quality Control

Drill core samples are cut longitudinally with a diamond saw with one-half of the core placed in sealed bags and shipped to Certimin’s sample analytical laboratory in Lima for sample preparation, processing and ICP-MS/OES multi-element analysis. Certimin is an ISO 9000 certified assay laboratory. The program is designed to include a comprehensive analytical quality assurance and control routine comprising the systematic use of Company inserted standards, blanks and field duplicate samples and internal laboratory standards.

LOI To Form JV Manganese Buriturama Mine in Brazil

VANCOUVER, BC – Maxtech Ventures Inc. has signed a Letter of Intent (LOI) to form a joint venture to develop the Buriturama Mine in the State of Bahia, Brazil with Plantiminas Empreendimentos Rurais Ltda.

The Buriturama Mine is located in the northern portion of the State of Bahia, 862 km from Porto de Aratu with access to railroad, port facilities and infrastructure. The intent of the joint venture is to put the asset into commercial production up to 10,000 tonnes per month with focus on the export market.

The project has significant historical mining records as well as a current Gia (trial mining license) which authorizes mining and processing of up to 6,000 metric tonnes of manganese mineralization. Small scale mining has been undertaken on the project and there are manganese outcrops located throughout the project area as well as mining pits. An application has been submitted to Departmento Nacional de Proucao Mineral ("DNPM") for a Lavra license which provides for unlimited mining. The company will do both technical and legal due diligence on the asset prior to signing a definitive agreement.

Approximately 100km’s north of the Buriturama Mine in Bahia is Vale’s Mina do Azul Mine, which is responsible for 80% of Vale’s manganese output. Vale SA is the largest manganese producer in Brazil, accounting for roughly 70% of the country’s market. Mina do Azul is recognized internationally for the excellent quality of its ore, which contains high concentrations of manganese and a high manganese-iron ratio.

Southern Silver Intersections At Cerro Las Minitas

VANCOUVER, BC – Southern Silver Exploration Corp. reported assay results from the Winter 2017 core drilling program on the Cerro Las Minitas project, Durango State, Mexico. Drilling continues to intersect intervals of heavily disseminated to massive sulphide mineralization on the Blind Shoulder zone. These mineralized intercepts remain open laterally and reflects a flattening of the Blind Zone mineralization from a sub-vertical-orientation near surface, to a gently to moderately southwest-dipping horizon below 600m depth. Current drilling has now identified significant intervals of mineralization throughout an approximate 350m x 300m zone within the originally targeted 600m x 400m area. With approximately 4,280 meters now completed of the planned 10,000 meter US$2 million exploration program, further drilling with two core rigs will focus on continuing the systematic expansion of the Blind Shoulder mineralized zone.

Mineralization in drill hole 16CLM-095 is a continuation of earlier reported mineral intercepts in the Blind Shoulder zone and significantly, contains much higher silver grades than earlier drilling in this part of the deposit. Further drilling to delineate this high-grade silver zone is planned for this target area.

The mineralization in drill hole CLM-095 is open both down-dip to the southwest and along strike to the north and northwest and represents a 90 meter step-out from previously reported mineralization in hole 17CLM-091. “Assay results from this recent drilling have returned some of the better silver and base metal grades on the project to date and continues to not only expand the dimension of the Blind Shoulder target but have also yielded further improvement in potential size, quality and scope of the Cerro Las Minitas project," said Lawrence Page, Southern Silver’s President. "Our focus remains to establish this rapidly evolving district into one of the most significant economic polymetallic discoveries in our industry."

Exploration on the company’s flagship Cerro Las Minitas property, Durango Mexico is funded by Electrum Global Holdings L.P., which has financed a broad range of exploration activities and has earned a 60% interest in the project through a US$5.0M earn-in on the property, with Southern Silver acting as operator.

The Cerro Las Minitas project contains an estimated Inferred Resource of 17.5M ozs silver and 237M lbs of lead and 626M lbs zinc (77.3M ozs AgEq) and an estimated Indicated Resource of 10.8M ozs silver, 189M lbs lead and 207M lbs zinc (36.5M ozs AgEq).(1)

A total of 93 drill holes for 37,255 meters have been completed on the Cerro Las Minitas project with exploration expenditures of approximately US$8.6 million spent through to the end of 2016.

Silver Standard Resources And Golden Arrow Form Joint Venture

ARGENTINA – Silver Standard Resources Inc. reported a joint venture for the development of Chinchillas project is going to be created with Golden Arrow Resources Corp. According to the terms of the deal, Silver Standard Resources will contribute to the creation of the new business entity with its Pirquitas property and Golden Arrow Resources with its Chinchillas property. Silver Standard Resources will hold a 75% stake in the joint venture and Golden Arrow a 25% stake. The joint venture will be operated by Silver Standard Resources.

Chinchillas is located in the Argentinian province of Jujuy, not so far from the the Pirquitas mine. The near-surface mineralization provides Chinchillas with the potential to build an open pit mineral deposit; the site is characterized by favorable silver, zinc and lead recoveries. According to the pre-feasibility study at Chinchillas, the annual production of silver equivalent is estimated to be approximately 8.4 million ounces. The mine life is eight years, and the quantity of ore milled per day is 4,000 tonnes. The financial analysis of the pre-feasibility study estimates an aftertax NPV (5%) of $178 million on the base of a price of silver of $19.50 per ounce, a price of lead of 95 cents per pound and a price of zinc of $1.00 per pound. The internal rate of return of the project is 29%, and the project is seen to produce strong operating margins over its entire life of mine at a cash cost per ounce of silver sold of $7.40. The construction is expected by Silver Standard Resources to start sometime in the third quarter of this year, and the mineral will start to be delivered to the Pirquitas mill some time in the second half of 2018.

At Chinchillas, mineral reserves are estimated to be approximately 11.7 million tonnes which contain approximately 58 million ounces of silver grading 154 grams per tonne, approximately 310 million pounds of lead grading 1.20% plus approximately 127 million pounds of zinc grading 0.49%.

Paul Benson, Silver Standard’s president and CEO, said, "Forming the joint venture is an excellent result due to the outstanding cooperation by our partner Golden Arrow, the Argentine government and many within Silver Standard. We believe Chinchillas will extend the life of our Pirquitas operation well into next decade and it enables the joint venture to evaluate the viability of an underground operation at Pirquitas."

Torex Announces High Grade Sub-Sill Resource

TORONTO, ON – Torex Gold Resources Inc. reported a, CIM Definition Standards compliant, mineral resource estimate for its Sub-Sill deposit of 324,000 Inferred gold ounces and 89,000 Indicated gold ounces, at a cut-off grade of 2.5g/t Au. The Inferred resource is contained in 1.33 million tonnes at an average Au grade of 7.58 g/t. The Indicated resource is contained in 353,000 tonnes at an average Au grade of 7.82 g/t. The Sub-Sill deposit is located in close proximity to the Company’s ELG processing plant in Southwest Mexico and remains open in several directions.

Fred Stanford, President and CEO said, "The Sub-Sill provides the potential to offer a material increase in the near-term ounces produced through the ELG processing plant as a result of the high grade and the rapid advance of the planned 600 meter access ramp. The ramp is now less than 170 meters (4 m/d advance rate) from the anticipated contact with the skarn rocks that host the Sub-Sill deposit. Mine planning is underway and the mine design effort will seek to pull production of the highest-grade tonnes to as early in the mine plan as possible. It is worth noting that in the resource estimate there are 147,000 Au ounces in 260,000 Inferred tonnes averaging 17.45 g/t Au, and 45,000 Au ounces in 90,000 Indicated tonnes averaging 15.98 g/t Au." He added, "The Sub-Sill deposit also has the potential to increase in size. It remains open in all directions, including at depth. The deposit, as currently defined, covers an area of approximately 22,000 m2. The prospective area to test for expansions of the deposit covers an area of approximately 1,000,000 m2, with additional potential at depth. In early Q2/17, the next phase of the Sub-Sill exploration diamond drill program will begin. 15,000 meters of drilling are included in the program with an expectation that it will be completed over the following 6 months. One objective of the drill program is increasing the drill density in 1,000,000 of the Inferred tonnes to that required for the potential to upgrade to the Indicated confidence level. The drill program will also test the deeper magnetic target, a patterned step-out drilling of an area of 90,000 m2, and a few distant step-out holes to test the extents of the prospective area. Results from this program will be released as they are received and interpreted."

Blue Sky Drilling At Amarillo Grande Surficial Uranium Project

VANCOUVER, BC – Blue Sky Uranium Corp. reported initial results from the ongoing Phase 1 reverse circulation (RC) drilling program at the Ivana target on the Amarillo Grande uranium project, in Rio Negro Province, Argentina. The results from 31 holes received to date outline a broad area of near surface uranium measuring approximately 1,800 meters by 600 meters. Within this area, a higher-grade northwest oriented corridor is interpreted to have been intersected by four holes and a second area with higher grades is indicated by two holes at the eastern margin of the drill grid. A full geologic interpretation will be completed once results from the remaining 66 holes from the Ivana target are received. Blue Sky holds over 440,000 hectares of property located in two provinces in the most prospective uranium regions of Argentina.

"The initial results from the Ivana area provide important information on where to focus our follow-up drilling as we delineate new zones of surficial uranium mineralization at Amarillo Grande," stated Nikolaos Cacos, Blue Sky President & CEO. "These initial results confirm the broad occurrence of uranium mineralization at Ivana."

The 250,000-hectare Amarillo Grande project includes three areas of known mineralization (Ivana, Anit and Santa Barbara) within a 140 kilometer-long uranium trend discovered by Blue Sky. This 3,000 meter preliminary drill program is designed to delineate the mineralized zones at all three areas, for follow-up infill drilling. The program is testing areas prospective for discovery of near-surface uranium mineralization as identified by ground radiometric surveys, trenching, manually excavated pits and geo-electrical surveys. This program is the first phase of the overall 10,000 meter program which is designed to prepare for potential resource estimation later this year.