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Showing posts with the label silver mining

Guanajuato revenue jumps 22% YoY

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  Q2 2024 produces 398,685 Oz of silver in 2Q Guanajuato Silver Company Ltd announce financial and operating results for the three month and six month periods ending June 30, 2024.  The selected Q2 2024 (Three Month Period) Highlights are, Record revenue for the quarter of $20.5M representing a 16% increase over the previous quarter, and a 22% increase over Q2 2023. Consolidated revenue for the quarter was generated by a realized average price of $28.78 per silver ounce, $2,334 per gold ounce, $0.98 per pound of lead, and $1.29 per pound of zinc. Positive mine operating income of $947,433. During the quarter, the Company posted its first ever positive income from mining operations. Positive EBITDA of $2,007,907 represents the first positive EBITDA reported by the Company and demonstrates improving cash flow from mining operations. EBITDA showed a notable $6.5M improvement from the previous quarter. Adjusted EBITDA was also positive at $1,916,933 for the quarter. During the qua...

High-grade silver vein intercepted

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Middlecoff Silver Vein extended to South!   Alianza Minerals reports final results from the Phase One diamond drilling program at the Company’s wholly owned Haldane Silver Project located in the historic Keno Hill Mining District of Yukon Territory. Holes HLD20-20 and HLD20-21 targeted the Middlecoff Vein. HLD20-21 intersected silver mineralization including a core length of 0.89 m averaging 342 g/t silver, 2.35% lead and 1.20% zinc (476 g/t silver-equivalent).   Alianza Minerals said in their highlights of the results from Haldane Silver Project, Keno Hill District, Yukon, 1: Middlecoff Silver Vein extended to South, 2: Additional drilling planned to south and at depth for Middlecoff & 3: Phase Two Spring Drill Program to include West Fault and Middlecoff Targets. "The Middlecoff drilling has shown that the structure and mineralization is continuous to the south,” stated Jason Weber, P Geo President and CEO of Alianza.  “As we learn more at the Middlecoff, it is ...

Fifth new high-grade Silver intersection!

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Canada Silver Cobalt hits New high-grade silver vein discovery  Canada Silver Cobalt Works announce the intersection of a new, additional, high-grade silver vein within 60 metres of the Robinson Zone Discovery hole CA-1108.  The Robinson Zone Project is 100-percent owned by the Company, in the 78-square-kilometre Castle Silver Mine property, in Gowganda, Ontario, Canada.   Visually, mineralization in the new vein rivals the discovery intersection of hole. The 18,000 metres drilled in the current 50,000-metre program, represents only 36 percent of this phase of drilling.  A total of 28 holes are completed, including 8 wedge holes. This new intersection is 53 metres laterally east-southeast and 25 metres vertically above the original discovery hole (CA-11-08) and further expands the potential high-grade mineralization target area.  This new, high-grade mineralized intercept is approximately 80 metres below the upper contact of the diabase sill which, in the ...

Zimapan Mine lease extended for a decade!

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Yet, Santacruz eye to acquire the Zimapan   Santacruz Silver Mining reports that its wholly-owned subsidiary, Carrizal Mining S.A. de C.V, has reached agreement with Minera Cedros, S.A. de C.V, a wholly owned subsidiary of Industrias Peñoles, S.A.B. de C.V., to extend the current mine lease on the Zimapan Mine from December 31, 2020 to June 30, 2021.   In a related matter, the Company advises that it and Minera Cedros are at an advanced stage of negotiations with respect to executing the transaction in its terms, whereby Santacruz will acquire the Zimapan Mine and all related assets.  Further, the Company advises that it is in advanced discussions with a senior mine finance group with respect to putting in place a financing facility to support the acquisition of the Zimapan Mine and related assets.   Carlos Silva, CEO of Santacruz commented “Management is very pleased to have reached this accommodating mining lease extension agreement with Minera Cedros in these ...

94.7% Gold Recovery from RN Mine sample

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Bayhorse Silver achieves from the Harrison Gold Project   Bayhorse Silver has achieved 94.7% plus gold recovery from a composite quartz sample from the RN Mine Zone at the Harrison Gold Project, Harrison, BC. The Harrison Gold Project is permitted for drilling and bulk sampling. Three quartz samples totaling 82.18 kg were taken from the prominent gold-bearing quartz veins from the historically mined RN underground workings. The head grade of the samples was 13.2 g/t Au. Historical reports indicate that a total of 642.82 tonnes (708.58 tons) of mined material was shipped from the RN Zone that contained 30,443 grams of gold (978.89 ounces), 11,000 grams silver (300 ounces) and 616 kilograms of copper.  Mineralization at Harrison consists of free milling gold, with gold sizing from 0.2 to 2.0 mm sized grains, within quartz veins ranging from less than a cm to several tens of cm in width.   Bayhorse CEO Graeme O'Neill comments, "Gold recovery from the metallic screen assays...

Endeavour market offering!

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  Endeavour silver market offering of US$60mn Endeavour Silver announces it has entered into a sales agreement with BMO Capital Market, pursuant to which the Company may, at its discretion and from time-to-time during the 20 month term of the Sales Agreement, sell, through the Agents.  such number of common shares of the Company as would result in aggregate gross proceeds to the Company of up to US$60 million.   Endeavour Silver Corp. is a mid-tier precious metals mining company that owns and operates three high-grade, underground, silver-gold mines in Mexico.  Endeavour is currently advancing the Terronera mine project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer.  Our philosophy of corporate social integrity creates value for all stakeholders.

Red Oak & IPT Executes LoI

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  Nuevo Taxco Silver-Gold to be acquired   Red Oak Mining and Impact Silver (IPT) have executed a non-binding Letter of Intent (LoI) for an arm’s length transaction whereby Red Oak may earn a 100% interest in the Nuevo Taxco Silver-Gold Project located approximately 80 km south west of Mexico City and west of the municipality of Tetipac within the Pregones Silver-Gold District.   Impact Silver conducted initial geological work on the property mapping twenty-one (21) high grade silver veins and identifying initial priority drill targets. Under terms of the agreement (subject to regulatory approval), Red Oak may earn 100% interest in the approximately 1,100 hectare property by completing exploration expenditures of $1,400,000, making cash payments of $300,000 and issuing 3,500,000 common shares to IPT over a 3-year period.  Pregones Mining District The Pregones Mining District is one of three principal production centers with the Zacualpan District situated ten ...

Endeavour Produces 942274 oz Silver

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  Endeavour Silver Q3, 2020!   Endeavour Silver Produces 942,274 oz Silver and 10,260 oz Gold (1.8 Million oz Silver Eq.) in Third Quarter, 2020. By giving details, Endeavour Silver reports production of 942,274 silver ounces (oz) and 10,260 gold oz in Q3, 2020, for silver equivalent production of 1.8 million oz at 80:1 silver: gold ratio, bringing the year to date production total to 4.4 million AgEq oz. Endeavour operates three high grade, underground, silver-gold mines in Mexico; Guanacevi in Durango state, Bolanitos in Guanajuato state and El Compas in Zacatecas state. Production returned to plan in Q3, notwithstanding a heavy rain season, after a two month shut down in Q2 following a government mandated suspension of mining operations due to Covid-19.   Bradford Cooke, Endeavour CEO, commented, “After riding out a challenging Q2 with our mining operations suspended for more than half the quarter, due to the government Covid-19 mandate, our operations team were able...

SBR sales 294569 oz silver in Q1

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Yet a net assets deficit is of $24,286,842 Silver Bear Resources (SBR) announces interim financial results for the three-month period ended March 31, 2019 (Q1), including development highlights from its Mangazeisky silver project in Far East Russia. During the three-month period ended March 31, 2019 Silver Bear produced a total of 264,735 ounces of silver. SBR sold a total of 294,569 ounces of silver for pre-commercial production revenue of US$ 4,574,793 for the three-month period & mined a total of 39,367 tonnes of ore at an average grade of 545 g/t of silver for the three-month period ending March 31, 2019. The Group has reported a total comprehensive profit for the three-month period of $5,645,183 and an accumulated deficit of $164,283,488. The net assets have turned to a deficit of $24,286,842.  The Group is secured an additional reduction in the Facilities Agreement interest rate from 10% to 9% per annum from the Company's major shareholders; and cont...

Santacruz Silver production up by 67%

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Consolidated silver production registered 257,138 Oz at 1Q, YoY The reports on the operating results from the Veta Grande Project in Zacatecas, Mexico and the Rosario Project in San Luis Potosi, Mexico for the first quarter of 2019 says the consolidated silver equivalent production increases by 67% as compared to Q1 2018 and 8% as compared to Q4 2018. Veta Grande silver equivalent production increases by 184% as compared to Q1 2018 and 16% as compared to Q4 2018. Mr. Carlos Silva, Chief Operating Officer, stated, “The first quarter production results continue to reflect operational improvements that were undertaken in 2018 including increased mine development at both mines and a metallurgical review of the mill processing flow sheet at Veta Grande. In particular, we are very pleased with the significant improvement in zinc recovery at Veta Grande." He continued, "The preliminary April production results from both mines show strong improvement over the Q1 ...

Endeavour production dives in 1Q

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Silver production fall by 21% & 24% lower gold production YoY Endeavour Silver Corp. reports its production results for the First Quarter (1Q), 2019 from the Company’s four silver-gold mines in Mexico: the Guanaceví mine in Durango State, the Bolañitos and El Cubo mines in Guanajuato state and the El Compas mine in Zacatecas state. Silver production in the First Quarter, 2019 was 1,071,355 ounces (oz) and gold production was 10,055 oz, resulting in silver equivalent production of 1.9 million oz at an 80:1 silver-gold ratio.   The 21% lower silver production and 24% lower gold production compared to Q1, 2018 were due to the planned reduction of mine output at El Cubo, lower than planned throughput at Bolañitos and lower silver grades at Guanacevi.   Bradford Cooke, Endeavour CEO, commented, “All four mines typically start slowly each year as we commence our annual capital investments, then production improves as the mines work toward achieving their annua...