#ExploringMining #Podcast – #Mining News from (NYSE American: $SILV) (TSX: $SIL.TO) (NYSE: $NEM) (NYSE: $BVN) (TSXV: $ALTA.V) (TSXV: $AAX.V)
Point Roberts WA, Delta BC, October 10, 2019 Investorideas.com, a global investor news source covering mining and metals stocks releases today’s edition of Exploring Mining Podcast, featuring stock news from TSX, TSXV ,CSE, ASX, NASDAQ, NYSE companies plus interviews with CEO's and leading experts.
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SilverCrest Metals Inc. (NYSE American:SILV) (TSX:SIL) has announced expansion drill results for three veins – Giovanni, La Blanquita and Las Chispas – and the discovery of a new vein, La Blanquita Dos, in the Las Chispas Area of the Las Chispas Project located in the state of Sonora, Mexico. The announcement’s multi-vein results show deeper mineralization which could expand the current resource estimate. N. Eric Fier, SilverCrest President and CEO, explained:
"While the veins in the Las Chispas Area are usually overshadowed by the exceptional high-grades of the Babicanora Area veins, these results have established the potential to expand and improve the average grade of the resources for the Las Chispas Area veins. New drill results from deeper intercepts in the Giovanni Vein are particularly impressive with an average grade of 1,084 gpt AgEq or over three times the average grade of 349 gpt AgEq used in the current Giovanni resource estimate. Drilling completed since the February 2019 resource estimate suggests that these high-grade veins extend to depth, down plunge and are open for further expansion. With the Babicanora Area in-fill drilling nearing completion, and based on success of expansion drilling in the Las Chispas Area, we will be re-allocating three drills for an additional 8,000 metres of drilling in Q4, 2019. With further success, the deeper multi-vein mineralization in the Las Chispas Area may develop into a new higher-grade source of potential production later in the mine life.”
Newmont Goldcorp Corporation (NYSE:NEM) has confirmed that the illegal blockade of the Peñasquito mine in Mexico was lifted yesterday. According to the press release, the blockade “impacted Peñasquito’s third quarter production by approximately 11,000 gold ounces, 1.7 million silver ounces, 13.7 million pounds of lead and 22.8 million pounds of zinc, and is expected to impact the Company’s full-year results for the operation”. Mine operations are still temporarily suspended until further evaluation is completed.
Compania de Minas Buenaventura (NYSE:BVN) has revealed its preliminary 3Q19 production and volume sold. Production comments indicates that the “2019 guidance for Tambomayo’s lead and zinc production has increased due to Buenaventura’s mine plan approach which enables access to areas with higher grades and profitability” and that the company “expects to increase silver production during the fourth quarter 2019 due to access to areas with higher silver grades”.
Altamira Gold Corp. (TSXV:ALTA) has received the results of the new resource estimate from Global Resource Engineering Ltd. for its advanced Cajueiro project in northern Mato Grosso state in western Brazil. Highlights from the report include:
● The 2019 Inferred resources represent a 83% increase in the total amount of contained ounces of gold and a 61% increase in the gold grade
● Inferred resources total 12,665,000t @ 1.26 g/t gold for a total of 515,000oz of gold of which 1,673,000t @ 1.12 g/t gold (for 60,000 oz) is weathered rock and 10,992,000t @ 1.29 g/t (for 455,000oz) is fresh rock
● The 2019 Indicated resources represent a 13.5% decrease in the total amount of contained ounces but also represent a 33% increase in grade
● Indicated resources total 5,661,000t @ 1.02 g/t gold for a total of 185,000 oz of gold of which 854,000t @ 0.92 g/t gold (for 25,000 oz) is weathered rock and 4,806,000t @ 1.04 g/t (for 160,000 oz) is fresh rock
● The 2019 resource estimate includes several deposits which are all open at depth and are confined to an area of 285 ha. The Cajueiro concession area is largely unexplored and totals 39,053 ha with numerous untested gold-in-soil anomalies
Advance Gold Corp. (TSXV:AAX) has announced that the second phase of geophysics is underway on the Company's Tabasquena project in Zacatecas, Mexico. According to the press release, the “first phase survey identified a large continuous chargeability anomaly just below an area of widespread gold and silver mineralization in epithermal veins”, while the second phase survey “will extend the grid approximately 1000 metres to the south where due to the elevation change the anomaly is closest to surface”. Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented:
"It's a very exciting time for Advance Gold, previous drilling found a network of veins with widespread gold and silver mineralization. Following this the first phase geophysical survey revealed a large chargeability anomaly right below these veins. Another impressive aspect of the first IP survey is that as we move to the south there is a decrease in the depth to the IP anomaly that would indicate that the anomaly is getting nearer to the surface as we move to the south. A possible reason for this is that the elevation decreases as we go southward, so it is important for us to extend the IP grid to the south before we drill test the IP anomaly. In our recent news release announcing the addition of our geophysical advisor, he described the anomaly as 'quite remarkable in its size and continuity.' As the anomaly is quite large, we are able to expand the grid to the south with fewer lines so we expect to complete this survey within 2 weeks and then begin drilling. We are in a region with very large mines, including El Coronel which is an open pit mine in production since 2008 which is 12 miles to the south of Tabasquena. Our team looks forward to further advancing the Tabasquena project with the second phase of geophysics and upcoming drilling."
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