During the 1st week of the year (January 1st to January 7th, 2024), companies working in Mexico posted 10 news releases. Two companies reported exploration advances on their properties, one announced a financing round, other extended warrants and one more granted stock options. One company released drilling results from its advanced property, one other the amalgamation with a subsidiary and one more the agreement to acquire mining concessions. Two companies announced appointments to their boards. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, in Sonora, Canuc Resources commenced exploration at its San Javier project; Aztec Minerals provided a review and plans on its Cervantes property. ON MINING, no relevant news. ON FINANCING, Silver Wolf is extending warrants, and settled debt with shares. Oroco Resource announced a $1 M non-brokered financing. Bear Creek Mining is granting options to an officer. ON RESOURCES AND DEVELOPMENT, Silver Storm Mining released drill results from La Parrilla, in Durango. ON DEALS AND CORPORATE ISSUES, Chesapeake Gold completed the amalgamation with one of its subsidiaries. Regency Silver entered in an agreement to acquire two claim groups near the San Dimas mine in Durango. Guanajuato Silver announced the appointment of its chief financial officer, and Luca Mining announced the appointment of its chief financial officer and the resignation of Ralph Shearing, founder. ON SOCIAL RESPONSIBILITY, no relevant news.
ON MEXICO ISSUES
- No Relevant News.
ON EXPLORATION
- Canuc Resources Corp. commenced geological mapping and sampling at its San Javier Au-Ag project in Sonora. The exploration program is to center on the largest magnetic-high anomaly, measuring 800 by 400 m, and on a donut shaped anomaly 800 m in diameter south-east of the magnetic high. The magnetic high itself is 300 m west of “where magnetite silver veining comes to surface and where old artisanal mine workings were tunneled on magnetite veins which sampled high to bonanza grades of silver”.
- Aztec Minerals Corp. provided a review of 2023 and its outlook for 2024. On the Cervantes project in Sonora, road cut sampling, Terraspec SWIR data and detailed geological mapping was completed, along with the drilling of 13 RC holes which expanded the California zone gold target to 1 km by 250 m in size. Assay results for the holes is pending, and exploration work continues in preparation to follow up drilling.
ON MINING
- No Relevant News.
ON FINANCING
- Silver Wolf Exploration Ltd. received approval from the TSX for the extension of warrants from December 2023 to December 2024. The company also settled an aggregate debt of $30 K by issuing shares. (Ana Maria, Durango).
- Oroco Resource Corp. announced a non-brokered private placement to raise gross proceeds of up to $1 M (Santo Tomás, Sinaloa).
- Bear Creek Mining Corp. approved the granting of 500 K stock options to its recently appointed chief financial officer (Mercedes, Sonora).
ON RESOURCES AND DEVELOPMENT
- Silver Storm Mining Ltd. announced further drill results from its La Parrilla mine complex in Durango. Highlighted core length intercepts comprise 6.03 m @ 0.17 gpt Au, 166 gpt Ag, 1.1% Pb, 2.1% Zn (including 1.67 m @ 0.07 gpt Au, 334 gpt Ag, 1.7% Pb, 4.0% Zn); 1.22 m @ 0.79 gpt Au, 171 gpt Ag, 2.8% Pb, 7.9% Zn; 14.62 m @ 0.13 gpt Au, 1,151 gpt Ag, 13.8% Pb, 10.2% Zn (including 9.57 m @ 0.11 gpt Au, 1,35 gpt Ag, 18.4% Pb, 12.0% Zn). The results are from the C460 zone on the Quebradillas mine, “The replacement vein is concordant to bedding in the sediments and mineralization is comprised of pyrite, pyrrhotite, galena, sphalerite, arsenopyrite, acanthite, and freibergite”.
ON DEALS AND CORPORATE ISSUES
- Chesapeake Gold Corp. has completed a vertical short-form amalgamation with the Company's wholly-owned subsidiary, American Gold Capital Corp., with the amalgamated company adopting the name of Chesapeake Gold Corp., issuing no securities and the same ticker symbol on the OTCQX. “Following completion of the Amalgamation, the Company now holds Metates Resources directly, which in turn holds the shares of the Company's Mexican subsidiaries without an intervening US subsidiary.” (Metates, Durango).
- Regency Silver Corp. entered into an option agreement to acquire two contiguous claim groups near the San Dimas mine in Durango. The claims are located 13 km to the West of the San Dimas mine, covering 3,498 hectares that contain numerous artisanal workings and tunnels. Historical sampling has returned values as high as 17 gpt Au, 7,753 gpt Ag; 37 gpt Au, 2,325 gpt Ag, and grab samples by Regency Silver returned 8.95 gpt Au, 304 gpt Ag; 0.49 gpt Au, 1,084 gpt Ag. Regency has to pay US$50 K on Exchange acceptance, US$50 K in 6 months, issue 1 M common shares and pay back taxes and mining filings before March 25, 2025. “In lieu of a royalty, Regency Silver must also pay a US$1M bonus upon a NI 43-101 resource being published, which estimates the San Dimas Claims contain a minimum of 70 million silver equivalent ounces or 1 million gold ounces in the measured or indicated categories”.
- Guanajuato Silver Company Ltd. announced the appointment of Danny Lee as chief financial officer (El Cubo, Guanajuato).
- Luca Mining Corp. appointed Lisa Dea as chief financial officer. Ralph Shearing, the founder of the company, resigned from the Board of Directors (Campo Morado, Guerrero).
ON SOCIAL RESPONSIBILITY
- No Relevant News.
On the image below: Silicified ridges on a project of the Sonoran Desert. Picture by Jorge Cirett.
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