The Al Cubo Mine in Guanajuato, Mexico has been sold to VanGold Mining Corp for US$15 million. The binding agreement backs up the cash and share payments made for the acquisition of the mine and takes into account a number of specific conditions, including the impact of COVID-19, legislation, and taxation.
It's been confirmed that Santacruz Silver Mining Ltd will continue to lease Zimapan from Industrias Peñoles mine until June 30, 2021. This agreement was reached between Minera Cedros, a subsidiary of Industrias Peñoles, and Carrizal Mining, owned by Santacruz. This extension comes as negotiations for a full transaction for Santacruz to acquire Zimapan continue.
A report from GR Silver Mining has highlighted drill results from the ongoing drilling program in the Plomosas mine area. In addition to this positive news, validation sampling results from historic drilling at the Plomosas Silver Project in Sinaloa, Mexico are also looking good. Reaching high-margin precious and base metals mineralization with potential for large tonnage and scalability is looking more and more likely.
Endeavour Silver has hit mineral pay-dirt as drilling processes intersect high-grade gold-silver mineralization at the Bolanitos Mine, in Guanajuato. After drilling restarted in June following an earlier shutdown, 11 of 22 drilled holes have returned high grades of minerals. An initial three holes were drilled along the San Bernabe vein system highlighted by hole BN-59 which returned 7.91 gpt gold and 12 gpt silver over a 2.7 m true width (645 gpt AgEq or 18.8 opT over 8.9 ft).
An independent, technical report by Sierra Metals on the Cusi Silver Mine in Mexico has announced the filing of NI 43-101. This document highlights several significant mineral resource indicators, including total measured and indicated resources, which increased 18% to 5,356,000 tonnes from 4,557,000 tonnes as previously reported; and total inferred resources increased 200% to 4,893,000 tonnes from 1,633,000 tonnes previously reported.
Third-quarter 2020 results from Gatos Silver are available to view and read more about. Despite the 45-day suspension of activities earlier last year due to the pandemic, there was record production at the Cerro Los Gatos (CLG) mine of 453, 392 ore tonnes during the first nine months. Most significant to the third-quarter report was record levels of not just silver recovery, but zinc and lead metal also.
Will be interesting to see how this presidential election will impact the mining industry in Chile and the tax rates.