Company Updates From Management – Fri 10 Jul, 2020

Vizsla Resources – More information on the recent high grade silver results

Vizsla Resources (TSX.V:VZLA & OTCQB:VIZSF) has been a standout silver stock this week after the Company released a batch of extremely high grade drill results from the Napoleon Vein Corridor on the Panuco Project in Mexico. Headlines numbers include hole 7 which yielded 8,078 g/t silver equivalent (1,808.2 grams per tonne (“g/t”) silver, 66.8 g/t gold, 2.99% lead and 3.30 % zinc) over 6.0 meters.

Mike Konnert, President and CEO, and Charles Funk, VP Exploration, both just me to recap the results and look ahead to follow up work. We put these drill results in context with the last round of high grade results. Also outline some of the other vein targets on the property that will be tested this year.

If you have any follow up questions for Mike or Charles please email me at Fleck@kereport.com.

Click here to visit the Vizsla website and read over the recent news release.

Vizsla drills 1,544 g/t silver eq. over 8.2 metres in new discovery at Panuco project, Mexico

Vizsla Resources Corp. [TSX-V: VZLA] (“Vizsla” or the “Company“) is pleased to announce the first drilling results from the Napoleon Vein Corridor at the Panuco silver-gold district in Mexico. Five holes have been completed to date and results have been received for the mineralized intervals of two holes, NP-20-02 and NP-20-03, with high grade intercepts returned.  The company has restarted exploration and currently has two drill rigs operating on the property.

Drilling Highlights:

NP-20-02

  • 1,544 g/t silver equivalent (738.9 grams per tonne (“g/t”) silver and 11.06 g/t gold) over 8.2 metres (“m”) from 108.6m including;
    • 3,348 g/t silver equivalent (1,527.5 g/t silver and 24.9 g/t gold) over 2.0m from 108.6m

NP-20-03

  • 1,133 g/t silver equivalent (453.8 g/t silver and 9.20 g/t gold) over 2.5m from 76.0m. And,
  • 905 g/t silver equivalent (309.3 g/t silver and 8.00 g/t gold), 2.22% lead and 4.75% zinc over 5.1m from 102.4m including;
    • 1,375 g/t silver equivalent (186.3 g/t silver and 15.63 g/t gold), 1.12% lead and 7.73% zinc over 1.8m from 103.5m
Note: All numbers are rounded and widths represent downhole lengths.  True widths are estimated at between 46-66% of downhole lengths.  All calculations assume 94% recovery for silver and 96% recovery for gold.  Silver equivalent is calculated using the following formula:  Silver-equivalent = (0.94 * silver grade) +(80 * (0.96 * gold grade).

“This news can’t come at a better time as silver and gold have been breaking out and the Napoleon results mark our first major high-grade discovery at Panuco. The broad high-grade mineralization in drill hole NP-20-02 attest to the significant potential at the underexplored district. The Company is now fully financed with over C$6 million in the bank and has two drill rigs turning at the project with more results pending. stated President and CEO, Michael Konnert.

Vice President of Exploration Charles Funk commented “These results are a very exciting discovery for Vizsla with multiple veins intersected in drilling containing very high-grade silver, gold and base metals.  These holes are the first ever drilled on the Napoleon vein which extends over more than 2 km of strike and hosts multiple small-scale mines and mineralized outcrops. Drilling is ongoing with two deeper holes and a hole in progress 60m to the north of NP-20-03, all which have each intersected veins.  Vizsla is continuing to step out to expand and define the footprint of mineralization at Napoleon”.

The Napoleon Vein Corridor is located almost entirely on concessions optioned from Rio Panuco which Vizsla has the right to purchase 100% of including the 500 tonne per day El Coco mill, tailings facility, roads, power and permits for a total of US$23,000,000.

Complete table of drillhole intersections

Table 1: Downhole drill intersections from the holes completed at the Napoleon Vein, Panuco.
Note: All numbers are rounded and widths represent downhole lengths. True widths are estimated at between 46-66% of downhole lengths. All calculations assume 94% recovery for silver and 96% recovery for gold. Silver equivalent is calculated using the following formula: Silver-equivalent = (0.94 * silver grade) +(80 * (0.96 * gold grade). The company is disclosing results on a silver equivalent basis due to the overall silver dominant nature of mineralization at the Panuco project.

Drilling detail:

The Napoleon corridor is hosted in weakly magnetic fine-grained diorite and trends approximately north – south.  The structure hosts two main quartz veins that are separated by some 10 to 20m metres and appears to dip very steeply to sub-vertical.  So far it has been mapped along strike for over 2,000 m.  Between the two main veins are a series of smaller splay veins with variable orientations, that are related to dilation along the structure under strike slip movement.

Figure 1: Plan map showing location of drillholes, mapped veins and surface and underground sampling at Napoleon. The over 2,000 metre long corridor has never previously been drilled.

The two main veins are multi-episodal quartz veins, with sections of massive white to greyish quartz as well as local brecciation with clasts of grey quartz, white vein quartz and / or wallrock pieces.  The greyish quartz is grey due to the presence of the very fine-grained silver rich sulphide mineral argentite.  A later breccia cuts these earlier phases comprising grey quartz supporting polymictic clasts of grey and white quartz along with strong chlorite and common to abundant, fine to medium grained pyrite, sphalerite and galena.

The main high-grade hangingwall vein intersected in holes NP-20-02 and NP-20-03 has a true width of between 3.4-5.3 metres.  Other veins intersected require further drilling to confirm true widths as they may equally represent parallel veins or high angle structures to the hanging wall vein.

Hole NP-20-01 failed to reach the target depth when it intersected a void that is likely a decline built at the southern end of the historic Napoleon Mine.  The mine workings are inaccessible preventing present day sampling; however, the mine is believed to have been worked up to a depth of 50m below surface.

Hole NP-20-02 was drilled at a steeper angle and was the first intersection of the Napoleon veins.  Hole NP-20-03 was angled to the north and intersected the veins 30 metres to the north of hole NP-20-02.  Results from both veins are reported in this new release.

Hole NP-20-04 is a steeper vein beneath hole NP-20-03 and intersected the veins ~20-25m down dip.  Hole NP-20-04 is a steeper vein beneath hole NP-20-02 and intersected the veins at ~12-20m down dip as the vein steepened more than expected.  Samples from both holes have been submitted for analysis and assays are pending.

The drill rig has been moved north and is drilling beneath the old Napoleon mine in hole NP-20-06.  The hole is currently in progress and has intersected veins 60m to the north of hole NP-20-03.

Table 2:           Drill hole details. Coordinates in WGS84, Zone 13.

About the Panuco project

Vizsla has an option to acquire 100% of the newly-consolidated 9,386.5 Ha Panuco district in southern Sinaloa, Mexico, near the city of Mazatlán.  The option allows for the acquisition of over 75 km of total vein extent, a 500 tpd mill, 35 kms of underground mines, tailings facilities, roads, power and permits.

The district contains intermediate to low sulfidation epithermal silver and gold deposits related to siliceous volcanism and crustal extension in the Oligocene and Miocene. Host rocks are mainly continental volcanic rocks correlated to the Tarahumara Formation.

Quality Assurance / Quality Control

Drill core and rock samples were shipped to ALS Limited in ZacatecasZacatecas, Mexico and in North Vancouver, B.C. Canada for sample preparation and for analysis at the ALS laboratory in North Vancouver.  The ALS Zacatecas and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Silver and base metals were analyzed using a four-acid digestion with an ICP finish and gold was assayed by 30-gram fire assay with atomic absorption (“AA”) spectroscopy finish. Overlimits analyses for silver, lead and zinc were re-assayed using an ore-grade four-acid digestion with AA finish.

Control samples comprising certified reference samples, duplicates and blank samples were systematically inserted into the sample stream and analyzed as part of the Company’s quality assurance / quality control protocol.

Qualified Person

Panuco’s disclosure of technical or scientific information in this press release has been reviewed and approved by Stewart Harris, P.Geo., an independent consultant for the Company. Mr. Harris is a Qualified Person as defined under the terms of National Instrument 43-101.

Contact Information: For more information and to sign-up to the mailing list, please contact:

Michael Konnert, President and Chief Executive Officer

Tel: (604) 838-4327

Email: michael@vizslaresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS

This news release includes certain “Forward–Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward–looking information” under applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “would”, “could”, “schedule” and similar words or expressions, identify forward–looking statements or information. These forward–looking statements or information relate to, among other things: the development of Panuco, including potential drill targets; future mineral exploration, development and production including the identification of drill targets and commencement of drilling; and completion of a maiden drilling program

Forward–looking statements and forward–looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Vizsla, future growth potential for Vizsla and its business, and future exploration plans are based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of silver, gold and other metals; costs of exploration and development; the estimated costs of development of exploration projects; Vizsla’s ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.

These statements reflect Vizsla’s respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward–looking statements or forward-looking information and Vizsla has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: satisfaction or waiver of all applicable conditions to closing of the Acquisition including, without limitation, receipt of all necessary approvals or consents and lack of material changes with respect to Vizsla and Canam and their respective businesses, all as more particularly set forth in the Acquisition agreement; the synergies expected from the Acquisition not being realized; business integration risks; fluctuations in general macro–economic conditions; fluctuations in securities markets and the market price of Vizsla’s common shares; and the factors identified under the caption “Risk Factors” in Vizsla’s management discussion and analysis. Readers are cautioned against attributing undue certainty to forward–looking statements or forward-looking information. Although Vizsla has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. Vizsla does not intend, and does not assume any obligation, to update these forward–looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

Company Updates From Management – Tue 23 Jun, 2020

GR Silver Mining – Recapping High Grade Silver Results From The Plomosas Project and Upcoming Drill Plans

Marcio Fonseca, President and CEO of GR Silver Mining (TSX.V:GRSL & OTCQB:GRSLF) joins me to discuss the high grade silver results released yesterday. We recap some of the finer points on the results and look ahead to what the Company has planned in terms of following up.

Please email me with any additional questions for Marcio. My email address is Fleck@kereport.com.

Click here to read over the full news release.

Discovery Metals drills 2,489 g/t silver over 0.7 metres at Cordero Project

Discovery Metals Corp. [DSV-TSXV; DSVMF-OTCQX] announced results from eight diamond drill holes completed at its 100%-owned flagship Cordero Project in Chihuahua State, Mexico. The holes are part of a Phase 1 diamond core drilling program that began in September 2019. The goal of this program is to define a high-margin project with scale that retains excellent leverage to rising metal prices. Drill holes for this current release were focused on defining and extending the higher-grade mineralized footprint in the northern corridor along the north-east trend.

Highlight intercepts include:

• 0.7 metres averaging 2,489 g/t silver equivalent (AgEq) in hole C20-326 from 303.1 metres (comprised of 2,470 g/t silver, 0.02 g/t gold, 0.0% lead and 0.4% zinc)
• 51.9 metres averaging 197 g/t AgEq in hole C20-328 from 79.2 metres (comprised of 69 g/t silver, 0.13 g/t gold, 1.1% lead and 1.9% zinc)
• 62.2 m averaging 174 g/t AgEq in hole C20-328 from 239.8 metres (comprised of 62 g/t silver, 0.22 g/t gold, 1.2% lead and 1.3% zinc)
• 85.5 m averaging 112 g/t AgEq in hole C20-330 from 134.3 metres (comprised of 38 g/t silver, 0.16 g/t gold, 0.8% lead and 0.8% zinc)

Taj Singh, President and CEO, stated: “We are very encouraged that we continue to intercept broad zones of mineralization with excellent grades along the north-east trend in areas where there are significant gaps in previous drilling. We are also excited to announce, based on the excellent exploration results we have achieved to date, we are expanding our Phase 1 drill program by approximately 20,000 metres. With over C$40 million cash on our balance sheet we are very well positioned to not only complete this expanded program, along with an updated resource and PEA, but also to advance and drill test our property-wide targets at Cordero.

The initial Phase 1 Cordero drill program was planned for 30,000-35,000 m of core drilling. Forty-eight holes totaling 17,500 metres have been completed to date. Based on the strong results thus far, and following the closing of a C$25 million private placement on June 8, 2020, the Company is expanding its Phase 1 drill program to 50,000-55,000 metres.

The additional metres will be focused on two key areas: 1) Targeting of broad zones of breccia-hosted mineralization in the east and north-east of both mineralized corridors and 2) Testing of the width, grade and continuity of extensive high-grade vein systems identified in and adjacent to historical artisanal underground workings during the early history of the project.

Following a shutdown of exploration activities due to COVID-19, drilling activity is expected to commence by the end of the month with one drill rig. Further drill rigs will be added when the Company is confident that health and safety risks can be managed effectively.

Initial drilling from the Phase 1 drill program was focused on understanding the mineralizing controls in the Cordero system. The eight drill holes in this current release (C20-325 through C20-322) were focused on testing and defining mineralization to the northeast of the core Pozo de Plata Zone. All holes have been drilled roughly perpendicular to the main north-east trend of higher-grade mineralization. Assays from an additional eight holes are pending. Drilling to the north-east of the Pozo de Plata zone continues to intercept broad zones of breccia-hosted mineralization. Hole C20-328, drilled 560 metres north-east of Pozo de Plata, intercepted 51.9 metres averaging 197 g/t AgEq (69 g/t silver, 0.13 g/t gold, 1.1% lead and 1.9% zinc) and 62.2 metres averaging 174 g/t AgEq (62 g/t silver, 0.21 g/t gold, 1.2% lead and 1.3% zinc), confirming the extension and continuation of near surface mineralization in this direction. Refer to company press release for more assays.

Cordero is located on the eastern edge of the Sierra Madre Occidental mountains in the northern part of the Central Mexican Silver Belt, Mexico’s premier porphyry and carbonate replacement deposit district. Mineralization at Cordero is similar in nature to well-known nearby bulk tonnage precious metals mines and projects (e.g. Newmont Corporation’s Peñasquito Mine and Orla Mining Ltd.’s Camino Rojo project). In addition to the bulk tonnage mineralization there are also multiple high-grade silver-zinc-lead-gold sulphide vein trends as evidenced by more than 40 historical shallow, vertical shafts and associated underground workings.

LATIN AMERICA: Mexico Project Roundup

by Ellsworth Dickson

While exploration and mining in Mexico have been hampered by suspensions and slowdowns of operations due to the COVID-19 pandemic, the country will get through this challenge and gradually resume normal operations.

According to the 2020 CPM Silver Year Book, Mexican silver production has grown 48% since 2010 to 190.3 million ounces in 2019 and its share of global mine production increased from 18.7% in 2010 to 25% in 2019.

The CPM Group expected Mexico to continue building production in 2020 to 194.6 million ounces; however, with the pandemic underway, CPM forecasts a decline of 15.9 million ounces of silver.

Mexico is the world’s biggest silver producer but gold also plays an important role – both on its own and as a component in silver ores. Indeed, by size and liquidity, the global gold market is roughly 15 times larger than the silver market. Silver has seen a modest increase in price lately and some analysts are forecasting further higher prices.

Below is a selection of companies active in Mexico.

Argonaut Gold Inc. [AR-TSX] and Alio Gold Inc. [ALO-TSX NYSE AMERICAN] shareholders have approved a merger of the companies. Argonaut’s primary assets are the El Castillo mine and the San Agustin mine, which together form the El Castillo Complex, in Durango as well as the La Colorada mine in Sonora.

Mining, crushing and stacking activities have resumed at El Castillo and La Colorada. Given that Argonaut operates heap leach mines, the company maintained metal production and sales throughout the temporary suspension of activities.

Alio Gold owns the development-stage Ana Paula Project in Guerrero state.

 

Endeavour Silver Corp. [EDR-TSX; EXK-NYSE] has restarted mining operations at its three high-grade, underground silver-gold mines in Mexico. The company filed its mine operating and health plans with, and received approvals from the Secretariat of Health in Mexico to resume mining operations.

The company is currently advancing the Terronera mine project toward a development decision.

Exploration drilling through Q1 2020 intersected new high-grade gold-silver mineralization in the Santa Cruz vein on the El Curso property at the Guanacevi mine in Durango. A highlight was 1,085 g/t silver and 3.25 g/t gold over a 10.0-metre true width in hole UCM-27 (1,410 g/t or 41.1 oz/ton) silver equivalent (AgEq) over 32.8 feet.

Exploration drilling in Q1 2020 intersected new high-grade gold-silver mineralization in the Melladito vein at the Bolanitos mine in Guanajuato. A total of 14 holes were drilled and eight holes intersected high grades over minable widths. A highlight was 24.3 g/t gold and 787 g/t silver over a 1.5-metre true width in hole BN27 (3,217 g/t or 93.8 oz/silver equivalent (AgEq) at a 100:1 silver:gold ratio).

First Majestic Silver Corp. [FR-TSX; AG-NYSE] owns and operates the San Dimas silver/gold mine 150 km west of Durango, the Santa Elena silver/gold mine 150 km northeast of Hermosillo, and the La Encantada silver mine in Coahuila. Sam Dimas has an estimated 2020 production of 6.5-7.2 million oz silver (13.4-14.9 million AgEq oz). Santa Elena has an estimated 2020 production of 2l4-2.7 million oz silver (5.2-5.8 million AgEq oz). La Encantada has an estimated 2020 production of 2.9-3.3 million oz silver.

 

Fortuna Silver Mines Inc. [FVI-TSX; FSM-NYSE], on May 25, was granted approval by the government of Mexico to restart operations at its 100%-owned underground San Jose mine 47 km south of Oaxaca, southern Mexico. Production has officially resumed at nameplate capacity of 3,000 tonnes per day. In 2019, production was 7.9 million oz silver and 48,880 oz gold.

 

 

GoGold Resources Inc. [GGD-TSX; GLGDF-OTCQX] has resumed drilling at its 100%-optioned Los Ricos gold-silver project in Jalisco where one highlight was 3.2 metres of 1,094 g/t AgEq. Resource drilling is nearing completion at Los Ricos South in preparation for its upcoming NI 43-101-compliant resource calculation.

Full production operations have resumed at the Parral Tailings silver-gold project in Chihuahua. The 141 hectare Parral Tailings site is host to 21.3 million tonnes of tailings left over from 340 years of mining operations. GoGold’s 2013 pre-feasibility study defined a reserve of 35 million oz AgEq (20.3Mt at 38.4 g/t Ag and 0.31 g/t Au). GoGold’s heap leach facility was financed and built within 18 months and production began in June 2014.

GR Silver Mining Ltd. [GRSL-TSXV; GRSLF-OTCQB] reported high-grade drill results from its 100%-owned Plomosas silver project in Sinaloa. These results are located in the Plomosas mine area, one of six priority areas with a combination of recent (2016-2018) and historical drill data being released by the company. A highlight was 1.8 metres grading 30.6 g/t gold and 118 g/t silver (3,092 g/t AgEq), including 0.6 metres of 86 g/t gold and 36 g/t silver (8,378 g/t AgEq).

 

 

 

Great Panther Mining Ltd. [GPR-TSX; GPL-NYSE American] has restarted mining operations in Mexico, following a government order adding mining to the list of essential services. The restart is following a phased approach to accommodate new protocols in response to COVID-19. Great Panther’s Mexican operations include the Topia Mine and Guanajuato Mine Complex, comprising the San Ignacio and Guanajuato mines.

At the Topia Mine, permitting for the Phase III tailings storage facility (TSF) is underway. Geotechnical work and upgrade of monitoring instruments on the Phase II TSF is progressing on schedule and is expected to be complete by the end of June.

Kootenay Silver Inc. [KTN-TSXV] released assay results from an additional four holes at the 100%-optioned Columba high-grade silver projectin Chihuahua. These holes are the remaining four of 10 holes completed from the 2020 drill program before the COVID-19 work stoppage.

Hole CDH-20-049:
• 2,010 g/t silver over 1 metre within 762 g/t silver over 2.8 metres in the hanging-wall vein;
• 368 g/t silver over 0.65 metres within 68 g/t silver over 10.2 metres in the hanging-wall structure;
• 484 g/t silver over 1.4 metres within 209 g/t silver over 4.4 metres in the F vein structure.

Hole CDH-20-051:
• 865 g/t silver over 2 metres within 317 g/t silver over 6 metres in the hanging-wall structure;
• 769 g/t silver over 1.1 metres and 317 g/t silver over 4.36 metres within 72 g/t silver over 36 metres in the F vein structure.

MAG Silver Corp.’s [MAG-TSX; MAG-NYSE MKT] principal focus and asset is the Juanicipio Project (44%), being developed in a Joint Venture with Fresnillo (56%). The Juanicipio Project is located in the Fresnillo Silver Trend in Mexico, the world’s premier silver mining camp. Construction of the surface and underground infrastructure on the property is underway to support a 4,000 tonnes per day (tpd) mining operation.  As well, an expanded exploration program is in place at Juanicipio with multiple highly prospective targets across the property.

Mineralized material from the underground mine expected to be processed in the Fresnillo plant until the Juanicipio plant is commissioned. The Juanicipio plant is expected to begin commissioning ahead of schedule in mid-2021 and is expected to reach 85% of its 4,000 tpd nameplate capacity in Q4-2021.

Magna Gold Corp. [MGR-TSXV; MGLQF-OTCQB] plans to re-start and optimize the recently acquired San Francisco mine in Sonora and establish stable low cost production. The San Francisco mine was a past-producing, open pit, heap leach gold operation that commenced operations in 2010 and has produced over 820,000 oz gold at 100,000 oz gold in year one. Total crushing capacity is 22,000 tpd. The operation is currently in a period of residual leach. The open pits, mining equipment, processing facilities, and site infrastructure are all in excellent condition. Historical NI 43-101 Reserves are ~855,000 oz and Measured and Indicated Resources are ~1.5 million oz.

McEwen Mining Inc. [MUX-TSX, NYSE] owns and operates the El Gallo Gold-Silver Complex in Sinaloa where residual heap leaching is underway. A total of 16,000 oz gold was recovered in 2019. The Fenix Project, part of the El Gallo Complex is in the development stage and is expected to produce 47,000 oz gold equivalent annually from open pitting.

 

 

Minera Alamos Inc. [MAI-TSXV; MAIFF-OTC] has a portfolio of high-quality Mexican assets, including the 100%-owned Santana open-pit, heap-leach development project in Sonora currently under construction, which is expected to have its first gold production in Q1 2021.

The 100%-owned La Fortuna open pit gold project in Durango has a PEA completed and is nearing the end of the permitting process. A construction decision on La Fortuna could be made in late 2020 or early 2021.

Pan American Silver Corp. [PAAS-TSX; PAAS-NASDAQ] reported operations have resumed at the Dolores and La Colorada mines in Mexico. The mines are initially operating at reduced capacities to accommodate new protocols in response to COVID-19.

Pan American withdrew its 2020 operating guidance on March 12, 2020, given the uncertainties related to the COVID-19 pandemic, and plans to update its guidance for 2020 once the impact of the new protocols on operations can be better determined. The company also notes that some of the sustaining capital projects planned for 2020 will be carried over into 2021 as a result of COVID-19.

Sierra Metals Inc. [SMT-TSX, BVL] has two mines in Mexico – the copper-silver-gold Bolivar mine and the silver-lead-gold-zinc Cusi mine, both in Chihuahua. The underground Bolivar mine produced 27.2 million copper equivalent pounds in 2019, a 28% increase over 2018. Mineral Reserves for Bolivar now stand at 7.5 million tonnes averaging 0.69% copper, 13.4 g/t silver and 0.22 g/t gold, or 0.87% copper equivalent, representing a 5% tonnage decrease to the previous reserve estimate from 2017. The new reserve estimate includes two years of depletion of approximately 2.5 million tonnes of ore.

The Cusi Mine produced 1.02 million silver equivalent ounces in 2019, a 27% increase when compared with 2018. The mine ended the year with an average throughput of 815 tpd and is expected to reach its throughput goal of 1,200 tpd this year.

Silver One Resources Inc. [SVE-TSXV] has been focused on its Candelaria Project in Nevada; however, it holds three projects in Mexico; Peñasco Quemado in northern Sonora with a historical resource of 9.63 million oz silver; La Frazada silver exploration project in Nayarit; and the Pluton Project in northern Durango. Exploration targets at Pluton are silver-lead-zinc carbonate replacement deposits.

 

 

Silver Viper Minerals Corp. [VIPR-TSXV; VIPRF-OTC] has a 100% interest in the La Virginia concessions and an option to acquire a 100% interest in the Rubi-Esperanza group of claims internal to those concessions. The property is an early stage exploration property, targeting a series of laterally extensive intrusive dykes and breccia zones, hosting low-sulphidation epithermal gold-silver mineralization.

 

 

 

SilverCrest Metals Inc. [SIL-TSXV] has restarted exploration and development work at its advanced silver exploration Las Chispas Project in Sonora using strict COVID-19 protocols. The company has also released infill and expansion drill results for the Babi Vista vein at Las Chispas. These holes were drilled prior to the company’s suspension of activities due to COVID-19. Results announced have expanded the size of the high-grade footprint for the Babi Vista vein and continue to show higher-grade vein mineralization to depth, including hole BV20-39 with 1.8 metres (estimated true width) grading 11,148 g/t AgEq.

The company also has the Cruz de Mayo projects in Sonora.

 

Southern Silver Exploration Corp. [SSV-TSXV; SSVFF-OTCQB; SEG1-FSE; SSVCL-Santiago] has been active on its Cerro Las Minitas Project in Durango for several years. It features a large land position in the prolific Faja de Plata (Belt of Silver) of northern Mexico. Since 2010, Southern Silver has completed surface exploration, airborne and ground geophysics, diamond drilling for 59,912 metres of coring in 133 holes. Four new deposits have been identified, as well as multiple high priority drill targets. On May 9th, 2019, the company released an updated NI 43-101 resource estimate. The property is 40% owned ( and operator) by Southern Silver and 60% by Electrum Global Holdings.

 

 

 

SSR Mining Inc. [SSRM-TSX, NASDAQ] has been advancing the 100%-owned Pitarrilla Project grassroots discovery in Durango. Measured and Indicated Resources are 496.5 million oz silver averaging 97 g/t and 28.8 million oz at 165 g/t silver underground. Inferred Mineral Resources are 21.2 million ounces of silver averaging 77 g/t and 5.5 million oz silver grading 138.0 g/t underground. Highlights of a Feasibility Study include: a 32-year project producing an average of 15 million oz silver/year the first 18 years; an after-tax net present value of $737 million at base case metal prices and $1.7 billion at spot metal prices; an after-tax IRR 12.8% at base case metal prices ($27.50/oz silver in the final pre-production year and the first two years of production, and $25/oz silver thereafter).

Total construction costs are estimated at $741 million, including $157 million of pre-production operating costs and $131 million of pre-production revenue.

Torex Gold Resources Inc. [TXG-TSX] has resumed full production at its 100%-owned El Limon Guajes Mining Complex in Guererro. The company’s principal assets are the El Limón Guajes Mining Complex, comprised of the El Limón, Guajes and El Limón Sur open pits, the El Limón Guajes underground mine including zones referred to as Sub-Sill, El Limón Deep and 71, and the processing plant and related infrastructure, which is in the commercial production stage and the Media Luna deposit, an early stage development project for which Torex has issued a PEA.

 

VanGold Mining Corp. [VAN-TSXV; VGLDF-OTC; VAQ-FSE] conducted a 1,000-tonne bulk sample from its 100%-owned, past-producing, El Pinguico silver and gold project located 7 km south of the city of Guanajuato, central Mexico. The processing was done at Endeavour Silver’s Bolanitos mill.

VanGold also holds the Analy I and Analy II as well as the Patito I and II claims, all in the vicinity of Guanajuato.

Company Updates From Management – Fri 15 May, 2020

GR Silver Mining – More High Grade Results From Plomosas

Marcio Fonseca, President and CEO of GR Silver Mining (TSX.V:GRSL & OTCQB:GRSLF) joins me to recap the news from yesterday outlining more high grade gold and silver results from the Plomosas Mine Area.

We discuss the higher gold component and the number of veins the Company thinks are in this area. Marcio also outlines the exploration work the Company will undertake to further define these veins and work toward a resource estimate.

If you have any follow up questions for Marcio regarding GR Silver please email me at Fleck@kereport.com.

Click here to read over the full news release.

Company Updates From Management – Wed 13 May, 2020

Endeavour Silver – Discussing an operational turnaround, organic growth and exploration potential

Bradford Cooke, Founder and CEO of Endeavour Silver Corp (TSX:EDR – NYSE:EXK) joins me to provide a broad overview of the Company’s growth objectives this year.

We begin with the 3 operating mines. 2019 was the worst year, operationally for the Company but Brad addresses how the Company is working to turn this around. We then discuss the organic growth opportunities in the more advanced projects held by the Company in Mexico. Finally a look at the exploration that is planned for this year, which also includes a couple properties in Chile.

If you have any follow up questions for Brad please email me at Fleck@kereport.com.

Click here to visit the Endeavour Silver website.

Company Updates From Management – Tue 12 May, 2020

GR Silver Mining – Recapping recent news – Bought Deal Financing, Plomosas Exploration Results

Marcio Fonseca, President and CEO of GR Silver Mining (TSX.V:GRSL & OTCQB:GRSLF) joins me to kick off today with a recap on the news from last week.

the Company announced a $6million bought deal financing that was quickly up-sized two times to $8.1million. There was also another round of exploration results from the Plomosas Project.

If you have any further questions for GR Silver Mining and Marcio please email me at Fleck@kereport.com.

Click here to recap all the recent news from last week.