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Showing posts with the label precious metal mining

Mogollon silver-gold likely to Acquire!

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Allegiant Gold on acquisition spree!   Allegiant Gold Ltd announces that it has signed a definitive agreement with Summa Silver whereby Summa can acquire up to a 100% interest in the historic Mogollon silver-gold mining district of south-western New Mexico from Allegiant Gold Ltd.    Peter Gianulis, CEO of Allegiant Gold, commented: “We are very excited to have reached an agreement with Summa.  Their dedication and professionalism throughout this process was unparalleled and we are confident that we selected the right partner to develop one of the best undeveloped silver projects in the U.S.  We look forward to their progress and our ability to focus on the development of Eastside, our flagship gold-oxide project in Nevada.  Allegiant now has four projects farmed out, three of which are expected to be drilled over the coming month in addition to drilling up to 15,000 metres at Eastside this season. We continue to execute our business plan and are very pleased with the progress we have

Endeavour improved by 7% YoY

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5.5mn oz Silver and 52967oz gold Produced by Endeavour in 2018 Endeavour Silver Corporation reports 2018 consolidated production of 5.5 million ounces (oz) silver and 52,967 oz gold, for silver equivalent production of 9.5 million oz at 75:1 silver: gold ratio. Silver production in the Fourth Quarter, 2018 was 1,386,505 oz and gold production was 13,117 oz, for silver equivalent production of 2.4 million oz. Endeavour owns and operates three silver mines in Mexico, the Guanaceví mine in Durango State and the Bolañitos and El Cubo mines in Guanajuato state.   Production from the three mines was higher in 2018 compared to 2017 but fell short of the Company’s 2018 production guidance. The 7% improved production performance in 2018 compared to 2017 was due to higher mine output, silver and gold grades and recoveries at the El Cubo mine.   The 7% production shortfall in 2018 compared to guidance was due to lower mine output and silver grades at Guanaceví, lower gold gra

Brazil Minerals mining for gold and diamonds

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Brazil Minerals, Inc announced that it had concluded an extensive drilling campaign of one of its several mineral rights in the Jequitinhonha River Valley located in the northern part of the state of Minas Gerais in Brazil. The Company drilled 35 holes spaced 30 to 50 meters utilizing a Banka 4-inch drill. All holes were positive for fine gold as observed by the drilling team, with samples collected for quantitative geochemical analysis. The average depth for the auriferous gravel layer was 8 meters and with a thickness between 1.5 to 9.3 meters. The target area which was studied in this drilling campaign is an alluvial plain along the Jequitinhonha River, an area known for placer mining for gold and diamonds.   Marc Fogassa, CEO of the Company, commented, “Finding gold in 35 out of 35 drill holes is a strong result. We focused our drilling campaign in a virgin area that was relatively close to old settler activity which is usually an effective marker. Most importantly,