Sergio Castro Flores

Mexico’s Best Drilling Intercepts, Fourth Week of May 2024 Four companies released results from drilling programs in Mexico during the week. The four projects present epithermal low or intermediate sulfidation mineralization, mostly structurally controlled, with dissemination developed on the favorable El Tigre Formation at El Tigre. Silver Tiger’s results from El Tigre project in Sonora display the highest gold and silver results on the period. The company released assays from 95 holes from the drilling program for the ongoing pre-feasibility study (PFS) on the Stockwork deposit, highlighting the high-grade mineralization beneath the 2023 PEA open pit in the Keel Zone and expansion of the PEA starter pit to the north. Tocvan Ventures presented results from one more reverse circulation (RC) hole outside from the Main Zone at the Pilar project in Sonora. The hole tested near-surface mineralization on the North Hill Zone; drilling continues, with assays pending for six holes. Vizsla Silver’s results are from 16 holes targeting the central and southern extent of the Napoleon vein at its Panuco project in Sinaloa. “Infill and step-out (expansionary) drilling completed to date has led to an improved understanding of the mineralization controls along the Napoleon vein corridor. Observations based on metal zonation and alteration continue to support the interpretation that the corridor is tilted”. Kootenay Silver released results from six holes targeting the eastern extension of the D-Vein at Columba in Chihuahua. Four of the holes targeted shallow levels to establish dip orientation of the vein before further deeper drilling testing. The deeper drilling focused below the 1,750 m asl elevation, where the best grades begin, stepping 200 to 375 m along strike from previous drilling. #Mexico #Exploration #Mining #Drilling #Gold #Silver #Lead #Zinc

13

The fun is starting at our Chilean project. We have assay results for 28 samples. They were assayed in Chile at a lab that specializes in artisanal miners, and only assays for gold. Samples were chosen not for geological continuity, but for representative vein types, alteration types, and mineralization types. All the vein systems were tested including wet and dry concentrate, as well as two operations where we've been discussing toll processing with the owners. There are two gold populations. Gold that passes a 150 mesh screen is locked in quartz, needs fine grinding, and reports to the concentrate. Gold that doesn't pass the screen is free, needs coarse grinding and reports to gravitational processing. Just how much coarse grinding and fine grinding is being studied now with final grind size analysis and QEMSCAN at Actlabs. Samples are also being assayed for the complete geochemical package, with a metallic screen and fire assay for overlimit values, which would be about 30% of the samples. Values from veins 1 and 2 are over 1 ounce per ton, which is not surprising to anyone who has seen the corporate presentation and the gold panning videos that are hyperlinked to it. Values from veins 3 and 4 are not over 1 ounce per ton, but are at least over the operational cutoff grade. When we get the block model finished with all the veins in it, hopefully we'll see a structural relationship between all of them. Dry concentrate was about 600 g/t, which is a good start for concentrate, but we're tweaking the concentrators now because the wet con was 147 g/t, which is not high enough. We'll have metallurgical engineers come in for a process audit once we get the geometallurgical study results back, and the full assay suite of elements as well. There were two duplicates included in the samples, and values showed a very low variance. A standard was not included nor assay blanks, which is being corrected in current chip channel sampling of vein exposures underground and on surface. The video below shows one of the vein zones which is exposed over at least 20m and consists of two separate veins within the structural zone. The representative sample from this vein ran about 39 g/t gold. I will put up the values when the check assaying results are in hand. We have also contracted Aster Funds Ltd for a complete long wave infrared survey as well as fingerprinting the Olguita and Magdalena high-grade zones with the QDFC algorithm. It would be nice to find more potential high-grade zones on the veins we haven't yet looked at it detail, and elsewhere in the coverage area for toll processing purposes. The Company has also engaged 4Front Capital Partners of Toronto, Canada to present the project to potential equity investors. Regards to all Jim Steel MBA P.Geo. J3M Gold Corp

13

3 comentarios

Copper Production Q1 2024: Visualizing the Total Amount Produced. The top 16 copper miners produced 3,260,150 tonnes in the first quarter of 2024. If you put that amount of copper into a cube, the side length of the cube would be approximately 71.25 meters.

93

1 comentario

Mexico’s Best Drilling Intercepts, Fourth Week of June 2024 In a busy week for Mexico, five companies reported drilling results from advanced projects, mines and brownfield exploration. Vizsla Silver’s results are from infill drilling on the Copala structure at its Panuco project in Sinaloa, including the highest gold intercept at the site of 663 gpt gold. At El Limón-Guajes Underground in Guerrero, Torex Gold results highlight the potential to increase resources and prolong the life of the mine complex that is producing over 400 K Oz Au per year, with drilling intercepts from the El Limón Sur, El Limón Deep and Subsill trends. Orla Mining presented drilling results from the Camino Rojo Sulphide Extension, which “indicate potential expansion of the Camino Rojo Sulphide resource at depth, extending beyond the current mineral resource down plunge by 500 metres and down dip by 300 metres.” The sulfide rich intercepts include base metals values with increasing copper content. Prime Mining reported drilling results from its Los Reyes project in Sinaloa, where extension holes on the Tahonitas area, showing that mineralization remains open along strike and at depth beyond the planned pit. Silver Storm’ drilling results are from the San Marcos mine at its La Parrilla property in Durango, intercepting wider mineralization 100 m below the deepest mine workings. #Mexico #Mining #Exploration #Drilling #Gold #Silver #Copper #Lead #Zinc

21

Chile Government Aims to Streamline Project Approvals for $73 Billion Mining Portfolio During the Perumin36 mining summit, the Chilean government unveiled its efforts to expedite approval processes for mining projects. The goal is to facilitate its portfolio of mining projects, valued at approximately $73 billion, as stated by Chile’s Subsecretary of Mining. The official cited a “deep commitment” to addressing bureaucracy issues, acknowledging the existence of over 300 permits required to initiate mining activities. This move signifies Chile’s dedication to streamlining administrative procedures and promoting investment in its thriving mining sector, which plays a pivotal role in the nation’s economy. The proposed reforms aim to enhance the efficiency and transparency of project approvals, potentially attracting further investments into the country’s rich mineral resources. Chile’s pursuit of these reforms underscores its determination to foster a business-friendly environment while ensuring responsible and sustainable mining practices.

6

Southern Copper to restart development of Peru mine on Monday "Peruvian copper producer Southern Copper, controlled by Grupo Mexico, plans on Monday to restart development of the long-postponed Tia Maria project, according to an internal document seen by Reuters. The Tia Maria mine, in the Islay province of Peru’s Arequipa region, has been on hold for years amid community opposition over fears of the mine’s environmental impact. Protests against the mine left six people dead between 2011 and 2015. An internal memorandum issued by Grupo Mexico and Southern Copper on Friday and reviewed by  Reuters notified employees about the start of work on Monday. A source with knowledge of the plans told Reuters that the document was authentic. Grupo Mexico did not immediately respond to a Reuters request for comment. In May, Southern Copper’s vice president of finance, Raul Jacob, told Reuters that the $1.4 billion mine was slated to break ground by the end of the year or in the first half of 2025. In 2019, the Peruvian government agreed with Southern Copper that development of the project could proceed when there were adequate social conditions. Jacob told Reuters in May that these conditions had improved. The mine is eventually expected to produce 120,000 tons of copper annually. Peru is struggling to accelerate its copper production, after Democratic Republic of Congo displaced it as the world’s second largest copper producer in 2023." #cowaninternational #recruitment #mining #gateway4opportunity

5

"Venezuela, land of grace" is a translation of the country's national nickname, "Venezuela, tierra de gracia". This nickname is a reference to the country's natural beauty and rich resources. Venezuela is indeed known for its stunning landscapes, including the Andes mountains, the Amazon rainforest, and the beautiful beaches of the Caribbean coast. Would you like to learn more about Venezuela's culture, history, or tourism? Venezuela has a rich cultural heritage and a complex history. Here are some key points: Culture: - Venezuelan culture is a mix of Spanish, African, and indigenous influences. - The country is known for its vibrant music, dance, and art. - Venezuelan cuisine is a fusion of different cultures, featuring dishes like arepas, cachapas, and tequeños. History: - Venezuela was colonized by Spain in the 16th century. - The country gained independence in 1821, led by Simón Bolívar. - Venezuela experienced political instability and dictatorships in the 20th century. - In recent years, the country has faced economic and political challenges. Tourism: - Venezuela is home to the world's highest waterfall, Angel Falls. - The country has a diverse wildlife, including jaguars, anacondas, and orangutans. - The Andes mountains offer great hiking and trekking opportunities. - The Caribbean coast features beautiful beaches and islands. Some popular tourist destinations include: - Caracas (the capital city) - Mérida (a city in the Andes) - Canaima National Park (home to Angel Falls) - Margarita Island (a Caribbean island) - Colonia Tovar (a German-influenced town)

13

An interesting read on fluid inclusions.

7

BHP Signs New Collective Bargaining Agreement with Union in Escondida, Marking a Milestone for Chilean Mining. BHP announced the signing of a new 36-month collective bargaining agreement with Union No. 2 of Supervisors and Staff. This instrumental pact introduces fresh benefits and substantial improvements to the existing ones, demonstrating the commitment to dialogue, collaboration, and mutual efforts to address the interests of all stakeholders and secure the company’s long-term future. The agreement encompasses several key aspects, with the final negotiation bonus for Union No. 2 set at $17.8 million BTN, complemented by soft credits totaling $3 million, in addition to other provisions. It’s worth noting that, according to union sources, the original company proposal had a BTN of $10 million. The significance of this development extends beyond the company and its workforce. It carries profound importance for the Chilean mining industry, exemplifying the capacity for fruitful negotiation and cooperative efforts to enhance working conditions, employee welfare, and productivity. BHP’s commitment to embracing the interests of its partners sets a positive precedent for the industry, reinforcing the importance of effective dialogue and collaboration in Chile’s mining sector.

9

Dear friends and colleagues, This is a great opportunity for professionals who would like to learn about machine learning and it's application across the Mine Project Life Cycle. #CIM #Vancouver #geology #mining #shortcourse #AI #machinelearning

21

This updated version of UNFC is intented to satisfy the requirements of different resource sectors and applications, as well as making it fully aligned to the sustainable resources management called for by the 2030 agenda for sustainable developmet. the key changes, including the normalization of the text, make UNFC applicable for all resources. This updated text is intended to make application easier for user of UNFC. a project is a defined development or operation which provides the basis for enviromental, social, economic and technical evaluation and decision making. The project plan may be detailed or conceptual. The project plan should be sufficiently detailed to allow an appropriate assessment for the stakeholder needs at the defined level of maturity. UNFC is a principles bases system in which the products of a resource project are classified on the basis of the three fundamental criteria of enviromental - socio - economic viability, technical feasibility and degree of confidence in the estimate, using a numerical coding system. Combinations of these criteria create a three dimensional system are defined for each of the three criteria as set out and defined. Fountain: https://lnkd.in/ejCHdrF7

3

EL MERCURIO: Lack of Projects Will Continue to Impact Copper Production July 22, 2024 The new phase of Quebrada Blanca might halt the decline this year, but the outlook for the industry remains pessimistic. Codelco aims to reverse the trend in the second half of the year. By Tomás Vergara P. Since 2018, copper production in Chile has been declining. This trend might change this year due to the new phase of Quebrada Blanca; otherwise, the indicator will remain stagnant. This week, Grupo Antofagasta Minerals and Anglo American revealed that their production has been below last year’s levels, adding to the challenges faced by state-owned CODELCO – Corporación Nacional del Cobre de Chile. The local industry’s situation is attributed to declining ore grades and aging operations. Juan Carlos Guajardo, Executive Director of Plusmining, explains, “There are deeper causes, such as insufficient replenishment of resources and reserves, mainly due to the lack of new projects. The mining business depends on replacing the natural decline in grades, which requires continuous investment in exploration and subsequent stages.” “This year might be the first to reverse the six-year decline, but only slightly. The issue is more structural, related to the lack of investment in new mines and expansion of existing ones due to recent changes in the country and the lack of incentives to invest,” comments Juan Ignacio Guzmán, General Manager of GEM. Codelco’s Diagnosis Codelco is aware of the challenges in maintaining production levels. Recently, Codelco’s Chairman, Máximo Pacheco, stated that this phenomenon affects the entire industry, as companies have focused on maintaining rather than increasing production. “Chile remains at production levels around 5.5 million tons per year, characterized by investments to replace capacity rather than grow. Chile has the world’s most significant copper resources and reserves but is also underexplored,” said Pacheco. He added that copper prices have not been attractive enough to develop new projects, considering inflation and higher production costs due to geophysical reasons and lower-grade deposits. Pacheco remains confident that this year they will halt the production decline and reverse the negative trend in the second half. However, Juan Carlos Guajardo believes this goal will be challenging. “With the decline in the first part of the year and the current state of operations and projects, there is no margin for error if production is to increase in 2024 compared to 2023. Some 2025 flows might be brought forward to improve statistics,” he said. Juan Ignacio Guzmán noted that Codelco is producing around 500,000 tons less than a decade ago. “At today’s prices, we are talking about lower revenues of around US$5 billion and fiscal surpluses of about US$2.5 billion. That’s the size of the opportunity being lost.” #CopperProduction #Chile #Codelco #QuebradaBlanca #MiningProjects #Exploration

3

Mexico’s Best Drilling Intercepts, Fourth week of April 2024 Atacama Copper and Gatos Silver released results from drilling on their Mexican properties, both of which appear to present intermediate sulfidation epithermal mineralization. Atacama Copper results are from 1,347 m of drilling on its first five holes of a 40-50 drill program at the Cristina project in southeastern Chihuahua. The Cristina project presents multiple quartz veins, frequently greater than 10 m in width and extend for at least a five-kilometre strike length, with four parallel mineralized vein zones having been mapped and sampled to date. Most of the existing mineral resource estimate at Cristina is contained within the Guadalupe vein. “The Cristina deposit is an epithermal to mesothermal vein system where the mineralisation is predominantly gold and silver, with lesser base metal values”. Four parallel vein zones are hosted in an andesitic volcanic sequence, in which the andesites are intercalated with dacitic intrusions and related lava flows and breccias. The sequence is in turn cut by porphyry bodies following fault trends. Gatos Silver presented results from drilling at its Cerro Los Gatos property in the foothills of the Sierra Madre. Most of the results are from resource definition definition drilling on the SE Deeps zone. “The SE Deeps mineralization extends approximately 1km laterally and 400m vertically, which adjoins the existing SE mineral reserve and remains open along strike. Since Q2 2023 drilling has focused on infilling the higher-grade areas of the SE Deeps zone to 50m spacing. We have completed 66,300m of diamond drilling since the cutoff date for the 2023 Reserve and Resource Update”. The project encompasses more than 103,000 hectares with over 50 exploration targets, of which San Luis, Lince, La Paula, San Agustin and Portigueño have been prospected, mapped and sampled during the quarter. The greenfield exploration drilling results are from two holes at the Portigueño zone (two km SE from Cerro Los Gatos), where they intercepted good widths of brecciation, alteration and mainly calcite veining, with anomalous Au, Ag, Cu, Pb, Zn grades. #Mexico #MineralExploration #Exploration #Drilling #Gold #Silver #Copper #Lead #Zinc

11

Congrats Guy and Team as Cerro de Pasco Resources is Granted a Long-Awaited Land Easement for its Quiulacocha Project in Peru. My Summary from Guy`s latest interview: "It is the largest above-ground mineral resource, valued at $15 billion. In Cerro de Pasco, where 67,000 people reside at 4344 meters above sea level, mining is the primary industry. Historically, the mine employed 7,000; today it's just 500. Our project aims to revitalize the town by reintroducing mining with environmental and social benefits. The Quiulacocha Tailings Storage Facility at the site comprises processing residues from the Cerro de Pasco open pit and underground mine. Initially, these tailings resulted from mining over 16 million tonnes of copper-silver-gold mineralization with historical grades of up to 10% Cu, 4 g/t Au, and over 300 g/t Ag. Later, it came from the mining of more than 58 million tonnes of zinc-lead-silver mineralized material with average historical grades of 7.41% Zn, 2.77% Pb, and 90.33 g/t Ag. The 2.2 billion-ton stockpile and tailings produce acid water daily due to precipitation. Our plan is to clean up this mess within 25 years and utilize the site to produce sulfuric acid, essential for local fertilizer production. This cleanup effort will also enable us to tap into the stockpile’s rich reserves, including 110 million ounces of silver, as well as significant amounts of gold, copper, and zinc. Our efforts are projected to bring significant economic contributions, including $30 million annually in income tax. With a conservative estimate, our activities based on current metal prices project an NPV of $1.35 billion. Despite a current market cap of $40 million, we expect this value to adjust with metal price fluctuations, given the diverse metals in the tailings. Originally mined in 1906, the site was nationalized in 1974. By 1999, metal prices plummeted, and big mining ceased, leaving the tailings neglected. We’re now planning to drill 40 holes using sonic drilling techniques, aiming to complete metallurgical testing by Q3 2024. This drilling will confirm the precise locations of the rich copper and gold layers, as well as silver and zinc. The tailings are diversified, which buffers against fluctuations in metal prices: when the price of one metal falls, another often compensates. With a clear path, we’re confident of realizing the mine’s potential, ensuring an eventful future for our investors and the local community." Read the full release: https://bit.ly/3QYNpgX $CDPR #silver #zinc Cerro de Pasco Resources Inc.

129

1 comentario

Mexico’s Best Drilling Intercepts, First Week of May 2024 Silver Tiger was the only company to release during the week results from drilling in Mexico. The company has completed 23,500 m of a 25,000 m drilling program as part of its ongoing pre-feasibility study (PFS) on the Stockwork gold deposit at its El Tigre project in Sonora. The focus of the program is to up-grade the classification from inferred to indicated, to complete metallurgical and geotechnical studies as it progresses from an exploration to a development project. Silver Tiger has identified four types of mineralization, all probably related to the same event. The current focus is on the Stockwork Zone, which relays mostly on the gold values of a low sulfidation stockwork zone stemming from the more intermediate sulfidation looking veins that gave raise to the district. The deposit developed in the El Tigre Formation volcanic rocks, adjacent to the main mineralized structures historically mined. The company states that past production reached 353,000 Oz Au and 67.4 M Oz Ag from 1903 to 1930, period on which the average grade mined was over 2,000 gpt AgEq. #Mexico #Exploration #Drilling #Gold #Silver #Drilling #Sonora

5

CODELCO – Corporación Nacional del Cobre de Chile leadership clearly unenthusiastic about conserving water and commercialising DLE: according to comments from Codelco Chairman, DLE it won't be used until 2033 at SQM-Atacama (see article below). How would Albemarle Corporation feel about this? Their production quota expansion was contingent on DLE was it not? In June's edition of the EV Battery Lithium Monthly report, I review Albemarle's position at Atacama and conclude for a range of technical, financial and political reasons, they are unlikely to realise the full potential quota. I'd imagine 50% at best (~40ktpa LCE on top of their existing 85 ktpa operation).

27

2 comentarios

The Peruvian Energy and Mines Ministry (MINEM) reported that accumulated mining investment in the first two months of the year amounted to US$ 646 million, representing a 22.4% increase compared to the same period in 2023 (US$ 528 million), according to the latest edition of the Mining Statistical Bulletin (BEM). In February 2024 alone, mining investments reached US$ 362 million, reflecting a significant increase of 41.8% compared to the amount recorded in February of the previous year (US$ 255 million).

9

Mining is not simply extracting resources from the subsoil, it is improving the environmental and social conditions and our entire environment to generate development, benefit and coexistence. The experience and knowledge in all these aspects make MINING BRAIN a solid company in supporting mining done well. Colombia country of Opportunities.

25

5 comentarios

Very interesting topics about mines…

1