Results On Newly Discovered Piedra Negra Project

TORONTO, ON – Magna Terra Minerals Inc. reported that generative efforts have resulted in the discovery of encouraging surface gold mineralization on a new low sulphidation epithermal vein style project in the Deseado Massif region of Santa Cruz Province, Argentina. The Piedra Negra Project (is located approximately 30 km N-NE of the Cerro Vanguardia gold mine (Anglo-Ashanti). The Project is accessible by a good unpaved road, from Tres Cerros, 32 km to the east.

The Project is characterized by gold bearing, low sulphidation veins and stockworks, hosted in andesitic tuffs and rhyolitic domes of the Bajo Pobre and Chon Aike Formations respectively. The 356 select rock chip samples reported so far are distributed across an area measuring 2 km from north to south and between 200 and 700 m from east to west. Gold grade ranges up to 13.35 ppm with an average grade of 0.397 ppm. There are 250 samples equal to or above detection for gold, 150 of which are greater than or equal to 0.1 ppm. Note that samples on this project are selected samples, with spacing being determined by availability of outcrop and sub-crop, and are not necessarily representative of the mineralization hosted on the property.

There are four mineralized zones which vary significantly in character in terms of geology and mineralization. The Vetas Hermanas zone includes the site of the initial discovery and is characterized by 1,000 meters of low sulphidation, banded, crustiform and cockade texture veins which are hosted in ash tuffs and andesitic tuffs. The veins in this zone vary in strike between 350° to 20°, and are intermittent, with sampling being based on interpolation of outcrops into areas of sub crop and float. Results from 121 samples reported from veins and breccias in the area range from detection to Au 8.23 ppm with an average grade of 0.616 ppm. There are 4 veins of interest in this zone, The Emily Vein, Valentina Vein, Brunella Vein and Jasmin Vein. Emily and Valentina strike N-S whereas Jasmin strikes NNE and Brunella is irregular in strike appearing to skirt the flank of a dome.

The Domo Puyutano Zone, to the north of the Vetas Hermanas, is characterized by low sulphidation veins in a rhyolitic dome complex. The 86 rock chip samples taken in this zone range from detection to 13.35 ppm Au with an average of 0.519 ppm. We note that the high gold values are restricted to a N-S striking vein, the Elizabeth Vein, in the flank of the dome and it strikes towards the Emily Vein to the south.

The Vetas Ocultas Zone, to the south of the Vetas Hermanas, is physically and stratigraphically higher than the Vetas Hermanas Zone. Veins occur in the form of float and sub-crop which we interpret as having cut the underlying andesites below the tuffs and volcanic breccias in which they occur. Au grade in this zone is spotty with gold ranging from detection up to 0.97 ppm and an average from 68 rock chip samples of 0.095 ppm.

The Domos de Piedra Negra Zone has grown to an east – west extension of 280 meters of anomalous Au in veins and stockworks hosted in rhyolitic dome material. While the extension of mineralization is generally E-W and N-S in this zone, individual veins strike WNW, which is more typical of the orientation of mineralization in other parts of the Deseado Massif. The 82 samples in this zone have an Au grade from detection to 1.92 ppm and average 0.19 ppm.

Lew Lawrick, President & CEO said, "We are very excited to be enjoying this level of success so early in the program. The veins encountered on the Project have classic low sulphidation textures of the style found at the neighboring Cerro Vanguardia gold mine, which is one of the most important mines in Argentina. The footprint of mineralization is large and with mineralization adjacent to a provincial road, the logistics could not be better."

Exploration Drilling Commences At The Buritica Project

TORONTO, ON – Continental Gold Inc. has commenced a 15,000-meter Phase 1 Expansion underground drilling program as part of the 2017 exploration program at its 100%-owned Buriticá project located in Antioquia, Colombia. Presently, there are three drill rigs operating at site, with two more rigs anticipated to arrive by the end of Q3 2017. The aim of the directional drilling program is multifold and will include infill drilling of both probable reserves and inferred resources in order to move them into higher classification categories. Additionally, step-out drilling is planned to target high-grade extensions along both probable mineable reserve blocks and inferred mineral resources located at or below the elevation of the Higabra Valley Tunnel. Lastly, multiple new targets with high-grade gold potential, identified from grassroots exploration conducted around the Buriticá project during the past two years, will be tested towards the end of the Phase 1 Expansion drilling program. The Company anticipates the first results of this drill campaign to be available in September.

"We are excited to have drills turning again for the first time in more than two years and expect that future results will continue to be positive," commented Ari Sussman, Chief Executive Officer. "With both the Yaraguá and Veta Sur deposits wide open for expansion, we are confident that drilling will drive shareholder value as we embark on our next phase of corporate growth."

Platosa Mine Reports Significant Improvements In Operations

TORONTO, ON – Excellon Resources Inc., President and CEO Brendan Cahil said, "Development rates, maintenance and electrical efficiency improved materially, grouting was eliminated and overall mobile pump usage was slashed. We began to see much higher rates of production at Platosa Mine, in Mexico, which have averaged 215 tonnes per day to-date in July, an increase of 72% relative to the first half of 2017, with access to fresh, high grade manto mineralization in Rodilla and Guadalupe South. Our next steps are to continue driving development headings to access additional high-grade working faces in the 623 and Pierna mantos and further ramp up production through the remainder of the year."

During April and May, production primarily came from the 674 heading, outside of the Rodilla resource area, which adversely impacted ore grades. During May, operations began to access a high-grade bench in Rodilla, with metal grades consequently improving. As the Optimization Plan resulted in drier mining conditions, high-grade ore in Rodilla became increasingly more accessible, particularly in the last days of June and into July.

Development rates increased materially from mid-June onward, allowing access to additional ore in the Rodilla Manto and affording access to the high-grade Guadalupe South Manto, which was accessed in the last days of June. Development is now driving towards the high grade 623 Manto directly from the Guadalupe South Manto along a recently identified connector zone of mineralization between the two mantos, targeting the area of drill hole EX16UG274, which intersected 662 g/t Ag, 4.9% Pb, 25.5% Zn and 0.57 g/t Au or 1,886 g/t AgEq over 13.00 meters. During the period, the Company also drove an exploration drift above the 623 Manto to conduct further delineation and expansion drilling of the area in advance of production later this year.

During the period, the Company continued to process low-grade historical stockpiles and sump material, with minimal associated mining cost. This mineralized material is blended with mined ore to improve recoveries (in the case of high-grade lead and/or zinc ore), as well as being cash flow generative. The following table sets out the mix of ore and low grade stockpiles processed per month in the period and also reflects the increase in ore grade during the period as the Rodilla Manto was accessed in dry conditions in late May.

Production rates improved materially in the the last week of June and, therefore, this increase is not reflected in the quarter’s results. In addition, July production rates have averaged 215 tpd to-date in significantly higher-grade material than accessed in the second quarter. Going forward, the Company expects to increase production and development rates and reduce installed pumps to 20-25, each of which will yield further operational and financial returns. 

Almaden Drills Further New High Grade Mineralisation At Tuligtic Project

VANCOUVER, BC – Almaden Minerals Ltd. reported new assay results from Almaden’s ongoing exploration and development program at the Company’s Tuligtic project, Mexico. Results reported today are from drill holes TU-17-494, 495, 496 and 497 drilled on sections 10+500 and 10+775 East. Holes TU-17-494, 495 and 496 intersected significant mineralisation and veining inside or immediately outside of the 2017 PFS pit north of the Main Ixtaca Zone. Hole TU-17-497 expanded the Main Ixtaca Zone to depth. 

The mineralisation reported today confirms the presence of additional important zones of veining immediately adjacent to the Main Ixtaca Zone and points to the exploration potential of the project in general. The Ixtaca deposit was discovered in 2010 beneath a large area of largely barren clay alteration which has been confirmed subsequently to represent the upper portions of a gold and silver bearing epithermal vein system. Since the discovery Almaden has focussed its efforts on the development of the Ixtaca Zone, however today’s results clearly show the potential for additional mineralisation, not only proximal to the deposit, but more broadly project wide beneath the high level clay alteration.

J.D. Poliquin, Chairman said, "When low sulphidation epithermal precious metal deposits are formed, metal bearing fluid rises from depth, filling fractures with quartz, calcite and precious metal minerals. In the highest mineralized areas of the system, the same fluids can be dispersed through multiple smaller fractures to form a sheeted vein zone or swarm such as we have at the Main Ixtaca Zone. The veinlets that comprise the Main Ixtaca Zone individually carry very elevated gold and silver grades, but as they are spread out within a broad area of limestone host rock, the overall average grade is lower. To have a completely preserved system as at Ixtaca is exciting but unusual as many epithermal vein systems in Mexico have been eroded down to the feeder veins where base metals are often abundant, making them by metal content lead and zinc deposits with high precious metal credits. The intercepts reported today further demonstrate the potential for large tonnage sheeted vein zones, as well as bonanza feeder vein zones below. Our 2017 exploration drill program is targeting both."

High-Grade Gold And Silver Mineralization At Pueblo Nuevo Concession

THUNDER BAY, ON – Mexican Gold Corp. reported on its recent sampling program at its newly acquired Pueblo Nuevo concession at the Las Minas project. The sampling was carried out on the Tamiagua 1, Tamiagua 2, and Dos Rios vein structures. Sampling of the Tamiagua 1 vein structure yielded up to 24.86 g/t gold and 17.8 g/t silver or 25.13 g/t Au Eq over 0.25 m, contained within a 0.72 m interval grading 19.09 g/t gold and 10.6 g/t silver or 19.24 g/t Au Eq. A sample from the shaft at the Tamiagua 2 vein structure graded 13.68 g/t gold, 29.8 g/t silver or 14.90 g/t Au Eq over 0.20 m. A chip sample of the vein outcropping on surface graded 15.93 g/t gold. 98.6 g/t silver or 17.3 g/t Au Eq. Sampling of the Dos Rios vein yielded 3.23 g/t gold, 25.2 g/t silver or 3.67 g/t Au Eq over 0.30 m. 

Brian Robertson, President and CEO stated, "We are excited about these high- grade sample results. The high-grade, gold bearing veins on the Pueblo Nuevo concession occur along the same sill contact and are believed to be part of the same metallogenic system as the better-known Au-Cu skarn deposits a few kilometers away at Las Minas proper. We look forward to carrying out further sampling and drilling at this highly mineralized site."

The Tamiagua 1, Tamiagua 2 and Dos Rios vein structures are two of eight known veins on the Pueblo Nuevo concession. The concession encompasses several historical underground mines and adits including the La Miqueta, La Miqueta Alta, Marangola, Murcielagos, Dos Rios and El Cobre. All of these vein systems strike NNE to NE. The La Miqueta mine was extensively mined in the past and has 21 known levels. Historic mining activity was carried out on narrow (10-20 cm) quartz veins in both diorite and marble, extending approximately 100 meters on strike and over 100 meters vertically.

Chunibas Drill Program Expanded After Discovery of Large Intrusive Breccia System

VANCOUVER, BC – San Marco Resources Inc. has increased the Chunibas HQ core drilling program, in Mexico, from four to six holes following the discovery of an extensive, previously unknown, intrusive breccia associated with mineralization encountered during the current drill phase. Management considers this to be a very important discovery and is working on multiple fronts to ascertain how to best explore it and determine its economic significance.

Bob Willis, San Marcos CEO stated, "It is very early days, but we don’t want to understate the potential significance of this discovery. It’s too early to classify this new discovery though it has affinities to both breccia-hosted and intrusive-hosted systems, which are host to some large gold and gold-copper discoveries worldwide made in the recent past.

"Our core drilling, the first on the property, allowed us to log long contiguous sections of rock unaffected by surface weathering, something unavailable to past workers. This led to the discovery of the new intrusive breccia in all holes drilled so far, extending from the top to the bottom of the holes in most cases. Subsequent prospecting confirmed the breccia extends at least 200 meters west and 300 meters south of the Hole 1 and Hole 4 areas and it remains wide open. The area will be remapped to determine the surface extent of the breccia but early indications from our widely spaced drill holes is that it is fairly large. While we need to understand zoning or other possible controls on gold emplacement, we are highly encouraged that all core containing breccia assayed to date exhibits at least anomalous (greater than 50 ppb) gold values. It will be exciting times as we work to define the magnitude of the system, refine and better understand the geological model and locate zones of mineralization with economic interest."

The primary objective of the current drill program was to confirm the presence of higher grade mineralization within narrow (1 – 2 metres wide) shear zones, and possibly low-grade mineralization in the flanking wall rock. Exploration by previous property owners consisted exclusively of surface work and RC drilling. They concluded the Chunibas system was of the low sulphidation, epithermal type with mineralized shears / veins hosted in a monzonite intrusion. The San Marco core-drilling program was designed to test three separate areas of old workings and presumed shearing along approximately 1,000 meters of north-south strike.

Upon commencement of drilling and logging of the core, it immediately became apparent that the dominant rock type in the drill core is a multi-lithic (breccia fragments of different compositions) highly altered, intrusive breccia, and NOT monzonite. Two holes (drilled to the east at – 60 degrees) around the southernmost workings intersected breccia from the collars to total depth (154 meters and 201 meters respectively). Additional holes completed to date have intersected breccia as well. Drilling has now been concluded, with approximately 860 meters completed in the six core holes. Following are the results of three holes, one each in the three areas of old workings over 1000 meters of strike. 

All holes were drilled at – 60 degrees inclination and azimuths of CHD-01: 90 degrees; CHD-02: 305 degrees; and CHD-03: 90 degrees. True widths are presently unknown, as the discovery holes do not have enough information yet to identify where the holes are located in the mineralized system.

Assaying for this drill program is being done by ALS Chemex located in Vancouver, B.C. Sample preparation is done at the Chemex lab in Hermosillo, Mexico, pulps are then shipped to Vancouver for analysis. Prepared samples are analyzed for gold by the Au – ICP21 method and multi-elements by ME – MS61, preparation 31B.

Riverside Moves Forward With 100% Ownership Interest In Thor Copper Project

VANCOUVER, BC – Riverside Resources Inc. has regained a 100% interest in the Thor Copper Project. The Thor Copper Project is located in north-eastern Sonora along the main copper producing belt of Mexico. Riverside and Antofagasta completed an initial proof-of-concept drill program to test for a Laramide aged porphyry-intrusive system. The first four (4) drill holes ever drilled at Thor confirmed the concept, with three of the four drill holes intersecting a large Laramid e-aged porphyry style quartz-sericite-pyrite stockwork system. 

Riverside will regain a 100% interest in the Thor Copper Project with drill permits already in place, drill cores, maps, data and target areas defined. The Company also owns the 12.4 km2 Ariel Copper-Gold Project, which was won through the lottery-staking system and is strategically located 30 km ESE of the La Caridad Cu-Mo porphyry mine. Ariel covers an extensive zone of hydrothermal alteration, measuring 2.8 km in length by approximately 1.9 km wide. Riverside owns three quality copper porphyry prospects in northern Mexico, and will explore partnership opportunities to advance the copper portfolio going forward.

Exploration Program Expanded At The Salar del Diablo Property 

VANCOUVER, BC – One World Minerals Inc. (OWM) reported the expansion of its exploration program to include additional geochemical sampling and extension of the planned geophysical program. In addition to gravity and time domain EM surveys, the exploration program will now include a Controlled Source Audio Magnetic Telluric Survey (CSAMT). The intent of the expanded program is to further delineate basin stratigraphy and structure as well as to define low resistivity zones that may indicate brine aquifers. The Salar del Diablo Property (formerly Rico Litio) is in the State of Baja California Norte and 35 kilometers from San Felipe, Mexico.

The Salar del Diablo Property covers a large closed basin of 75,400 hectares. The Property is 120 kilometers long and between 10 to 40 kilometers wide. In the northern part of the Property surface auger samples assayed from 53 to 188 ppm Li (parts per million lithium) and in the southern part samples assayed from 15 to 82 ppm lithium. In total, the samples extend over 110 kilometers and have an average grade of 74 ppm lithium. The surface samples were taken from surface salar sediments and rocks, not from brines that may occur at depth.

The pre-drilling program is focused on the north part of the property, called Valle del Diablo and expects to identify priority drill targets within 60 days. The program has started with logistical and contract preparations. The ensuing field activities will include surveying an expanded grid to conduct the three geophysical programs and concurrent geochemical sampling to further determine basin configuration, aquifer identification, and to delineate the distribution of lithium at the surface.

Comparison of Salar del Diablo with Salar de Atacama, Chile with strong similarities, including size, geologic environment (including young rhyolitic volcanic activity, hot springs, active tectonic setting). 

Duran Completes Milestone First Sale of Mineral Concentrates

TORONTO, ON – Duran Ventures Inc. reported the first shipment of zinc and lead-silver concentrates from the Aguila Norte mineral processing plant was received at the Impala Terminals in the port of Callao in Lima, Peru. These concentrates are 100% wholly owned by Minera Aguila de Oro, the Company’s 80% owned subsidiary that owns Aguila Norte. The Company entered into an agreement with mineral trader Ocean Partners to purchase the concentrates and the final settlement of this batch of concentrates will be approximately US$141,000. The proceeds from the sale includes recoverable VAT taxes which will be used as free cash flow as the Company has no significant debt and has available significant tax losses and VAT taxes recover able. Approximately 10 metric tonnes of concentrate still remains at the Plant and will be shipped shortly under the same terms.

The Company is actively negotiating additional mineral contracts to source feed for the Plant. Third party mineral is currently being processed and will continue throughout the month of May and the Company expects that the plant should be operating at full capacity by the end of June 2017. 

Jeffrey Reeder, CEO and President said, "The sale of our first concentrates is a milestone for our Company. We expect to continue purchasing this Pb-Zn-Ag mineral from the small miner and will process third party mineral to maintain full capacity of the plant. Currently copper concentrates are being produced for a client and the next batches will include gold-silver-copper bearing mineral owned by another third party. Our corporate goal once the plant is fully commissioned is to enter into profit sharing agreements and purchase agreements with miners. Several miners are now expressing strong interest in the Plant since we are able to produce three concentrates from the same mineral source."

Acquisition Of Historic El Pinguico Mine

VANCOUVER – Vangold Resources Ltd. reported the closing of its acquisition of a 100% interest in the El Pinguico Property and historic mine located 10 km from the City of Guanajuato, Mexico. Under the terms of the acquisition, Vangold has acquired 100% ownership of rights and title to the El Pinguico mining claims #166665 and #165491, totaling 71 hectares. Pursuant to the Acquisition, the Company has paid US$100,000 and issued 5,000,000 common shares to the vendors, Exploraciones Mineras Del Bajio, SA de CV (EMDB) and will issue 662,500 common shares as a finder fee. 

Cameron King, President and CEO of Vangold said, "I would like to take this opportunity to personally thank EMDB for their continuous support in working towards the closing and bringing this valuable asset into Vangold.  Our shareholders have also provided the Company great support and confidence in our corporate strategy of purchasing undervalued silver and gold properties with a focus of unlocking the true potential of these assets through continuous exploration and mine development."

Once one of Mexico’s most prolific silver and gold mines with grades over 9 g/t Au and over 900 g/t Ag, with a 15 g/t Au eq. cutoff grade, as documented assays found in the detailed mine development plans performed between 1906 to 1910.  Technical reports issued in 1907 by experts in the different areas (geology, mining, metallurgy and finance) provide documented evidence of the once profitable producer. In 1913, due to the Mexican Revolution, the El Pinguico Mine ceased operations, leaving behind several hundred thousand tons of broken ore in the underground stopes and the unmined vein system continuing at depth and length. Through several gold and silver cycles since the turn of the Century, The Pinguico mine has been a point of discussion to be put back into production.  In 1959, an extensive geological assessment was undertaken, assays grade average of 2.72 g/t Au and 251 g/t Ag were reported, with various samples throughout the underground stock pile showing grades over 5 g/t Au and 500 g/t Ag. (CRM Mexican Geological Survey 1959. Not until 2012, was there additional work conducted in the mine, a sizeable assay program and mine plan development was led by Exploraciones Mineras Del Bajio and undertaken by Servicio Geologico Mexicano – SGM (Mexican Geological Survey), showing a potential underground broken ore with average grades of 1.6 g/t of Au and 143 g/t of Ag. [SGM, 2012, Certificacion de Reservas Mineral Quebrado en la mina “El Carmen-El Pinguico” Municipio de Guanajuato, Gto.  In February 2017, Vangold performed a similar assay program under 43-101 protocols, realized an 8% improvement in grade at 1.75g/t Au and 184 g/t Ag. Of specific interest, assays from the north end trench samples F-001 to F-005, of the underground stock pile, report a range of 3.78 g/t Au and 558 g/t Ag to 15.70 g/t Au and 1,475 g/t Ag.  

The potential of el Pinguico claims is important, where the main targets are to explore the lower Pinguico vein below the existing old workings. Also, the potential intersection of the Pinguico vein with the Mother Vein, which has been the most important ore source of the area, producing over a billion ounces of silver since 1500’s. In addition of these 2 main targets, the exploration and understanding of the existing exposed veins such as the San Jose vein, Pachuca vein, el Pirul vein, La Joya vein and el Pino vein have been targeted for immediate exploration programs.