Company Updates From Management – Mon 16 Sep, 2019

Riverside Resources – Diving into the acquisition of the Los Cuarentas Project from Millrock Resources

Last week Riverside Resources (TSX.V:RRI, OTCQB:RVSDF, FSE:R99) announced it has completed the acquisition of the Los Cuarentas Project in Senora Mexico. John-Mark Staude, Riverside President and CEO joined me to provide some history on the project as well as discuss the overall district. We address if this project fits into the exploration alliance the Company has with BHP in Senora and what work is planned to build up drill targets.

If you have any follow up questions for John-Mark or I please email me at Fleck@kereport.com.

Click here to visit the Riverside website and read over the full news release.

Company Updates From Management – Mon 16 Sep, 2019

Riverside Resources – Diving into the acquisition of the Los Cuarentas Project from Millrock Resources

Last week Riverside Resources (TSX.V:RRI, OTCQB:RVSDF, FSE:R99) announced it has completed the acquisition of the Los Cuarentas Project in Senora Mexico. John-Mark Staude, Riverside President and CEO joined me to provide some history on the project as well as discuss the overall district. We address if this project fits into the exploration alliance the Company has with BHP in Senora and what work is planned to build up drill targets.

If you have any follow up questions for John-Mark or I please email me at Fleck@kereport.com.

Click here to visit the Riverside website and read over the full news release.

Impact Silver rallies on high grade results

Impact Silver Corp. [IPT-TSXV; IKL-FSE] shares rallied Wednesday September 11 after the company announced high-grade silver results from underground drilling at the San Ramon Mine in the Royal Mines of Zacualpan District, central Mexico.

Highlights from drilling include 2.14 metres of 418 g/t silver from 65.55 metres to 68 metres and 1.54 metres of 1,393 g/t silver from 48.44 metres to 50.17 metres.

On Wednesday, Impact shares jumped 8% or $0.03 to 41.5 cents. The shares are trading in a 52-week range of 19.5 cents and 51 cents.

Impact is a silver-gold producer with two processing plants on adjacent districts within its 100%-owned, 623-km2 claim package located three hours southwest of Mexico City.

The San Ramon Mine has been in production for over 14 years and continues to yield mineralization. During that period, Impact has produced over 9.4 million ounces of silver, generating revenue of $175 million.

San Ramon is located 5 km southeast of Impact’s 535-tonne-per-day Guadalupe processing plant. The company currently operates three producing silver mines which feed the Guadalupe plant, including the underground San Ramon Deeps Mine, Mirasol Mine and Cuchara-Oscar mine.

To the south in the Mamatla District, the Capire processing pilot plant is currently rated at 200 tonnes per day, but is expandable. It is adjacent to an open pit silver mine with a NI 43-101-compliant resource of over 4.5 million ounces of silver, 48 million pounds of zinc and 21 million pounds of lead.

Since 2005, production at San Ramon has been based the San Ramon Upper Zone and since 2014 on the San Ramon Deeps Zone, which continues down to the southeast extending the known mineralized system to a depth of 1,611 metres above sea level.

Known mineralization over the total San Ramon workings has a down-dip length of over 500 metres.

In Wednesday’s press release, the company said it intersected the vein system at depth and to the southeast of the current mine workings.

In total, the company said mining has occurred on 27 working levels over a vertical distance of 430 metres on three subparallel vein systems.

Meanwhile, on August 14, 2019, the company announced its financial results for the six months ending June 30, 2019. The company posted second quarter revenue of $2.8 million, a decrease of 11% from the same period last year.

Impact also reported a net loss of $2.8 million in the second quarter, which includes a one-time write-down of $1.7 million of exploration and evaluation assets as the company reduced its land package size to save on biannual concession taxes.

The company said silver production decreased to 145,658 ounces in the second quarter of 2019, from 194,223 in the year earlier period due to fewer tonnes being processed.

However, the company said it is well positioned for a rebound in the price of silver, which recently played catch-up with the rising price of gold. On Wednesday, spot silver was trading at US$18.13 an ounce.

SilverCrest steps up to TSX, releases drilling news

SilverCrest Metals Inc. [SIL-TSX; SVCMF-OTCQX] said its shares are scheduled to begin trading on the Toronto Stock Exchange on August, 29, 2019 under the symbol SIL.

News that SilverCrest is stepping up to the TSX came as the company also released initial infill and expansion drill results Wednesday August 28 from the Babi Sur vein at its Las Chispas Project in Sonora, Mexico.

In a press release, the company announced results from 33 drill holes. That is in addition to 39 that were release in February 2019 and used in a Preliminary Economic Assessment for the project.

The company says infill drilling has increased confidence in the resources and the high-grade continuity of the Babi Sur Vein. Expansion drilling has also increased the high-grade footprint for possible additional resources.

SilverCrest shares eased 0.7% or $0.06 to $8.50. The shares are currently trading in a 52-week range of $2.85 and $8.61.

The Las Chispas property is located approximately 180 km northeast of Hermosillo. It consists of 28 concessions (all of which are 100%-owned by SilverCrest) totalling 1,400 hectares.

Between 1880 and 1930, several mines on the property are thought to have yielded approximately 100 million ounces of silver and 200,000 ounces of gold.

Mineralization occurs in 0.5 to 5-metre wide veins with adjacent stockwork and breccias trending northwest-southeast for one to 1.5 km. The company says 14 epithermal veins have previously been defined on the property, of which three have had notable production. The producing veins include Las Chispas, William Tell and Babicanora.

SilverCrest is the first company to successfully drill-test the historic Las Chispas Project, a move that resulted in numerous discoveries that are being evaluated for economic viability and potential production in the future.

In a March 2019 news release, SilverCrest said infill drilling at Las Chispas delineated an initial inferred resource of 1.0 million tonnes grading 6.98 g/t gold and 710.6 g/t silver, or 1,234 g/t silver equivalent, containing 39.8 million ounces of silver equivalent.

Inferred resources are estimated at 3.6 million tonnes, grading 3.32 g/t gold and 332.5 g/t silver, or 581 g/t silver equivalent, containing 68.1 million ounces of silver equivalent. Of the known 30 veins in the district, 10 veins were included in the updated resource estimate.

More recently, the company received key permits that will allow it to further advance underground exploration at the Babicanora Vein in both the Santa Rosa decline and Babicanora historic adit.

The Babi Sur Vein, as defined in the PEA, includes 39 drill holes and has a modelled average vein width of 0.95 metres and cut diluted grade of 4.10 g/t gold and 268 g/t silver or 575 g/t silver equivalent over a discontinuous (four discrete zones) mineralized length of 1,200 metres.

The Babi Sur drill holes announced on Wednesday have a weighted average true width of 2.3 metres, grading 3.36 g/t gold and 2.82 g/t silver, or 534 g/t silver equivalent with hole intercepts distributed along the same estimated mineralized length as presented in the PEA.

SilverCrest said the new results suggest an increase in the true width of between one and two metres, from 0.95 metres, and confirm the estimated overall grade of 534 to 575 g/t silver equivalent.

In-fill drilling is also suggesting better continuity between the discrete zones delineated in the most recent resource estimate, with potential to reduce the required underground development to access these areas of the vein.

Approximately 25 to 35 additional in-fill and expansion holes, for a minimum of 7,000 metres, are planned for the Babi Sur veins in the second half of 2019.

SilverCrest gains key permit for Las Chispas Project

SilverCrest Metals Inc. [SIL-TSXV; SVCMF-OTCQX] said it has received approval for the operational storage and use of explosives at the Las Chispas Project in Sonora, Mexico.

Prior to receiving the General Explosives Permit, the company said it held a temporary explosives permit for construction until late June 2019. The General Explosives Permit is valid for the life of the project, while exploring, developing or potentially producing and is subject to various standard purchase, consumption, reporting and safety provisions.

The receipt of this permit from the Secretaria de la Defensa Nacional (SEDENA) allows SilverCrest to further advance underground exploration at the Babicanora Vein in both the Santa Rosa Decline and Babicanora Historic Adit.

SilverCrest has also acquired local water rights for Las Chispas, which are transferrable to a more efficiently located operational well(s) at the company’s discretion. The company has also announced that it has exercised its last outstanding option agreement to fully acquire the remaining four of the 28 concessions at Las Chispas, thereby obtaining 100% ownership in all Las Chispas mining concessions containing vein mineral resources.

On Friday, Silvercrest shares were up 1.9% or $0.15 to $8.01. The shares are currently trading in a 52-week range of $2.85 and $8.38.

The Las Chispas property is located approximately 180 km northeast of Hermosillo. It consists of 28 concessions totalling 1,400 hectares.

Between 1880 and 1930, several mines on the property are thought to have yielded approximately 100 million ounces of silver and 200,000 ounces of gold.

The Las Chispas update comes after SilverCrest recently completed a $25 million bought deal offering of 4.3 million common shares priced at $5.85 per share. SilverCrest is backed by SSR Mining Inc. [SSRM-TSX, NASDAQ] which acquired a 9.9% stake in SilverCrest late last year via the purchase of 8.2 million common shares of the company via a private placement.

With the completion of the bought deal offering and SSR’s recent move to maintain its 9.9% stake via the purchase of 780,000 shares at $5.85 a share, SilverCrest said it now has $49 million in cash, leaving it in a robust financial position to advance the Las Chispas Project.

In a March 2019 news release, SilverCrest said infill drilling at Las Chispas has delineated an initial inferred resource of 1.0 million tonnes grading 6.98 g/t gold and 710.6 g/t silver, or 1,234 g/t silver equivalent, containing 39.8 million ounces of silver equivalent.

Inferred resources are estimated at 3.6 million tonnes, grading 3.32 g/t gold and 332.5 g/t silver, or 581 g/t silver equivalent, containing 68.1 million ounces of silver equivalent. Of the known 30 veins in the district, 10 veins were included in the updated resource estimate.

Company Updates From Management – Wed 7 Aug, 2019

Minera Alamos – Answering your questions regarding funding options, management, and Mexico

On the back of my first interview with the Minera Alamos (TSXV:MAI, OTCQB:MAIFF) President Doug Ramshaw there were a few questions and topics that we could not get to. Doug joins me for a follow up to answer some of these questions. We discuss the relationship between Minera Alamos and Osisko Gold Royalties. This ties in with a couple questions on funding options for the Company’s near term production assets. We also get some more information on the management team and the environment in Mexico for resource companies.

Click here to listen to this initial interview with Doug to get a full overview of the Company’s projects.

Click here to visit the Minera Alamos website and review the Company presentation.

Company Updates From Management – Wed 31 Jul, 2019

Goldplay Exploration – More information on the high grade gold intercept at the Faisanes Target

Yesterday Goldplay Exploration (TSX.V:GPLY & OTCQB:GLYXF) release the first drill result from the ongoing drill program at the San Marcial Project in Sinaloa Mexico. This result yielded a high grade gold intercept of 204.6g/t over 1 meter.

Marcio Fonseca, President and CEO of Goldplay joined me to answer some of the questions I had regarding this drill result and future drilling. We also discuss how the presence of gold in surface samples and the drill result is changing the outlook for this project.

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

Click here to read over the full Goldplay news release on this drill result. Also take note of the maps and figures we discuss in the interview.

Goldplay’s First Drill Hole Intersects 204.6 g/t Gold at San Marcial

Goldplay Exploration Ltd. [TSXV: GPLY, FRANKFURT: GPE, OTCQB: GLYXF] (“Goldplay” or the “Company”) is pleased to announce a high-grade gold intersection from its first core drill hole at the San Marcial Project (“San Marcial”), Sinaloa, Mexico.

Drill highlights at the Faisanes target (“Faisanes”) include:

  • Drill hole SM 19-01 intersected 1 m @ 204.6 g/t Au, defining a new gold mineralized zone close to surface, immediately adjacent to the western edge of the San Marcial NI 43-101 resource* (“resource area”).
  • 32 m wide hydrothermal breccia hosting a series of high-grade Pb-Zn-Ag massive sulphide veins.
  • Discovery of high-grade Au-Ag shallow mineralization beneath old workings.
  • Drilling at Faisanes is following up a recent surface channel sample that returned 56 m @ 196 g/t Ag.

THE STRATEGY

Phase I drilling at Faisanes is currently testing the continuity and dip of a newly discovered mineralized system identified by recent surface channel sampling. This system contains a wide, high-grade Ag-Pb-Zn-Au mineralized zone, of which channel sample results returned up to 56 m @ 196g/t Ag including 15 m @ 472 g/t Ag (news release 21 February 2019). The Company is actively focused on surface and drilling exploration along the 600 m long Faisanes zone (Figure 01), including prospecting for discoveries of new high-grade Au-Ag zones.

Goldplay President and CEO Marcio Fonseca commented, “The high-grade gold-silver intercept is highly significant as it supports the Company’s goal of expanding the San Marcial resource.  It is the first time in approximately 10 years that any type of exploration work has been carried out on the project. One year ago, our data indicated high-grade silver, lead and zinc at San Marcial. Today, we have added high-grade gold.  We are committed to continue systematic exploration and drill programs at San Marcial”.

 

DRILLING THE NAVA TARGET AS WELL

The Nava target (“Nava”) is located 1.5 km west of the San Marcial resource area and approximately 1 km west of the Faisanes discovery, where recent surface sampling reported continuous gold mineralization and visible gold, notably:

  • 24 m @ 2.1 g/t Au including 5 m @ 4.0 g/t Au

A 500 m long gold mineralized zone has been defined at Nava. For further details, see news release 10 July 2019.

The Company is executing its San Marcial resource expansion strategy with its drill programs at Faisanes and at Nava.

Figure 1: Drill Hole SM 19-01 Location at the Faisanes Target

GEOLOGY

Faisanes comprises an extension along-strike of the silver-lead-zinc mineralization defined in the resource area. Gold-silver low sulphidation epithermal mineralization at Faisanes is hosted in hydrothermal breccia and lapilli tuff intercalated with flow-banded dacite. The first drill results have identified a 32 m wide hydrothermal breccia zone hosting multiple intersections of high-grade Pb-Zn-Ag mineralization. In addition to the breccia, a sulphide-rich lapilli tuff hosting a high-grade gold-silver zone has been defined in a 1m interval within a larger 4 m interval of the same rock type and sulphide dissemination that returned much lower grades in the 0.1 to 0.2 g/t range.

The first drill hole (SM 19-01) was drilled 75 meters below surface, confirming mineralization previously identified by trenching (Trench 01) and shallow old workings.

SM 19-01 discovered a new Ag-Pb-Zn breccia hosted mineralization close to the resource area as well as the new Au-Ag zones. The following table summarizes the most significant drill assay results (uncut, undiluted) from SM 19-01.

Table 1 Assay results from SM 19-01

All numbers are rounded. Mineralized zones are calculated allowing for maximum 2 m of internal waste, using cut-off grades of 0.1 g/t Au, 30 g/t Ag, 0.2% Pb and 0.2 % Zn to define the broad, mineralized zone.

The hydrothermal breccia hosts a series of massive sulphide (galena-sphalerite) intersections in veins/stockworks (Figure 02), trends NW to SE, and dips approximately 70 degrees. It hosts a high-grade, massive base metal mineralization, 2.8 m @ 59 % Pb and 4% Zn warrants testing of similar surface targets identified within the exploration concession.

The high-grade gold results (Figure 03), have been followed up with detailed geological and geochemical modelling. The sum of this work strongly supports Goldplay’s plans to conduct further drilling along strike on Faisanes.

The discovery of a high-grade precious (Au-Ag) and base metals (Pb-Zn) mineralized zone opens the exploration at San Marcial and confirms a highly prospective geological environment for additional gold and silver discoveries. The Company anticipates completing approximately 3 additional core drill holes at Faisanes in Q3/19 to follow up on SM 19-01.

Figure 2: Drill Section SM 19-01 at the Faisanes Target

Figure 3: Core Photo – Sulphide-Rich Lapilli Tuff Hosting High-Grade Au-Ag Zone

Qualified Person

The scientific and technical data contained in this news release related to the San Marcial Project was reviewed and/or prepared under the supervision of Marcio Fonseca, P.Geo., a non-independent qualified person to Goldplay Exploration Ltd. who is responsible to ensure that the geological information contained in this news release is accurate and who acts as “qualified person” under the National Instrument 43-101 Standards of Disclosure of Mineral Projects.

Quality Assurance Program and Quality Control Procedures (“QA/QC”)

Goldplay has implemented QA/QC procedures which include insertion of blank and standard samples in all sample lots sent to SGS de México, S.A. de C.V laboratory facilities in Durango, Mexico, for sample preparation and assaying. For every sample with results above Ag >100 ppm (over limits), these samples are submitted directly by SGS de Mexico to SGS Canada Inc at Burnaby, BC. The analytical methods are , 4-acid Digest and Inductively Coupled Plasma Optical Emission Spectrometry with Lead Fusion Fire Assay  with gravimetric finish for silver above over limits. For gold assays the analytical methods are Lead Fusion and Atomic Absorption Spectrometry Lead Fusion Fire Assay and gravimetric finish for gold above over limits.

About Goldplay Exploration Ltd.

Goldplay owns a >250 sq. km exploration portfolio in the historical Rosario Au-Ag Mining District, Sinaloa, Mexico. Goldplay’s current focus includes resource expansion and exploration aiming new gold and silver discoveries at the San Marcial Project, as well as a follow up exploration program at the El Habal Project.

The San Marcial land package consists of 1,250 ha, located south of the La Rastra and Plomosas historical mines and 20 km from the Company’s 100% owned El Habal Project in the Rosario Mining District, Sinaloa, Mexico. San Marcial is an attractive, near-surface high-grade silver, lead and zinc open pit project for which a NI 43-101 resource estimate was completed by Goldplay in early 2019. The NI 43-101 has defined a high-grade potential open pittable Ag project, attractive for future development. It is a low risk resource development stage project, fully permitted for all exploration activities and with support and authorization by local communities to carry out all necessary work on the project.

San Marcial exhibits significant exploration upside supported by recent regional exploration program completed by Goldplay, increasing the knowledge of the extension of the mineralized system from 500 meters to 6 km by delineation of additional 8 targets for future drilling. Some of these exploration targets consist of old shallow pits, caved shafts and historical underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures in a felsic volcanic environment, with field and sampling evidence dacite-rhyolite dome structures in a highly prospective geological environment for gold and silver discoveries.

The El Habal Project is a drilling stage project. The oxidized gold mineralized zone outcrops along a series of rolling hills with evidence of historical shallow underground mining along a 6 km long prospective corridor. The El Habal Project is located near the historical gold-silver Rosario Mine which reportedly operated for over 250 years. Goldplay’s team has over 30 years of experience with senior roles in exploration, financing, and development in the mining industry, including over ten years of extensive exploration experience in the Rosario Mining District, leading to previous successful discoveries. A current NI 43-101 report on the El Habal Project is filed on SEDAR.                                            

Mr. Marcio Fonseca

  1. Geo, President & CEO

Goldplay Exploration Ltd.

For Further Information:

Contact: +1 (604) 202 3155
Email: info@goldplayexploration.com

*click here for a link to the report of the March 2019 NI 43-101 resource update

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

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.      

Company Updates From Management – Mon 15 Jul, 2019

Goldplay Exploration – More information on the expanding Nava gold zone

Goldplay Exploration (TSX.V:GPLY & OTCQB:GLYXF) released some trench results from the Nava target last week. This is a whole new exploration area at the San Marcio Property that now has some gold showings at surface. The Nava target is 1.5km away from the current resource area and has some follow up drilling underway.

Marcio Fonseca, President and CEO joined me to answer some of the questions I had on the Nava zone and the trench results. We discuss the follow up drilling and how this new area relates to the rest of the project.

Please comment or email me with any other questions you have for Marcio. I can be reached at Fleck@kereport.com.

Click here to read over the full news release and note the figures and images we refer to.

Exclusive Company Introduction – Wed 10 Jul, 2019

Minera Alamos – 2 Low CapEx Projects Close To Production In Mexico

Minera Alamos (TSXV:MAI, OTCQB:MAIFF) is a Company that has been brought up on the site by a couple of our resource focused commentators. I had the chance to chat with the President, Doug Ramshaw to get a full rundown on the two 100% controlled projects in Mexico – the Santana Project and the La Fortuna Project.

The overall strategy, as Doug outlines, is to get these projects into production within the next couple years and use the cash flow to fund future exploration. Both of these projects have very low CapEx and are fairly straight forward heap leach projects. listen in for the full details.

Please email me with any questions you have for Doug or I regarding Minera Alamos – Fleck@kereport.com.

Click here to visit the Company’s website and the full corporate presentation.