Top-News of the Week:
Market Watch:
Gold and Silver in free-fall
Gold and silver are still in free-fall. After both precious metals failed to break out of a long-term-downwards-trend in mid-April, they bounced off and weren’t able to find a bottom until now. Especially silver, which showed a loss of approximately 10% and which could fall further below the US$16-mark, that provides a strong support-level which should not be crossed.
Regarding gold, there were two tryings to stop the downwards-trend and stabilize, which were both prevented by massive pressure action.
The good news is: any interest increasing plans by the Federal Reserve Bank should already be factored in, which means no more evil tidings from this direction.
Company News:
Sibanye Gold gets shareholder approval for Stillwater merger!
Sierra Metals reports record production!
A short time ago, Sierra Metals reported record first quarter 2017 production results featuring the highest level of throughput and metal production to date from the Yauricocha Mine.
Results are from Sierra Metals’ three underground mines in Latin America: the Yauricocha polymetallic Mine in Peru and the Bolivar copper and Cusi silver Mines in Mexico.
First Quarter 2017 Production Highlights
- Total tons processed of 529,695; an 11% increase over Q1 2016
- Silver equivalent production of 3.0 million ounces; a 28% increase from Q1 2016
- Copper equivalent production of 26.1 million pounds; a 28% increase from Q1 2016
- Increase of 54% in silver equivalent production and 21% increase in throughput at Yauricocha during Q1 2017 vs Q1 2016
Sierra Metals reports new resource estimate for Cusi
Furthermore, Sierra Metals reported a new resource estimate for its Cusi mine.
According to this, the total Indicated Mineral Resources for Cusi are 1,990,000 tons averaging 237 g/t silver, 0.53% lead, 0.53% zinc, 0.16 g/t gold, 283 g/t AgEq and 18.3 Moz AgEq.
Total Inferred Mineral Resources for Cusi are 1,200,000 tons averaging 305 g/t silver, 0.51% lead, 0.64% zin, 0.14 g/t gold, 354 g/t AgEq and 13.7 Moz Ag Eq.
A 15,000-meter drill program has been in execution at Cusi since December 2016 and has recently been completed, it is important to note that this data has not been incorporated in this resource report. Drilling took place at the Santa Rosa de Lima zone with good results reported to date and the balance of the assay results expected shortly. With the delineation diamond drilling program, complete and subsequent exploration programs underway at the Santa Rosa de Lima zone in addition to other areas on the property, potential increases have been targeted with a goal of increased tonnage and grade.
SIERRA METALS UPDATES MINERAL RESOURCE ESTIMATE FOR CUSI MINE, MEXICO In addition to that, Sierra Metals reported a new resource estimate for Bolivar, too!
According to this, the total Indicated Mineral Resources for Bolivar are 9,335,000 tons averaging 18.1 g/t silver, 0.90% copper and 0.30 g/t gold, 1.23% CuEq.
Total Inferred Mineral Resources for Bolivar are 9,055,000 tons averaging 17.9 g/t silver, 0.86% copper and 0.33 g/t gold, 1.20% CuEq.
Total Probable Mineral Reserves for Bolivar are 4,327,000 tons averaging 17.5 g/t silver, 0.85% copper and 0.31g/t gold, 1.18% Cu Eq.
At Bolivar, a 20,000-meter drill program has been in execution since the latter part of 2016 with a significant portion already completed. Drilling is taking place at the Bolivar West, Bolivar Northwest and will continue at the La Sidra area. Also, a recently completed geophysical program utilizing Titan 24 techniques has targeted near-surface, coincident strong chargeability and resistivity anomalies in the Southwestern sector of the property near Bolivar West. These targets are being drilled with a diamond drilling program and subsequent exploration programs are targeted to increase tonnage and grade at Bolivar.
SIERRA METALS UPDATES MINERAL RESOURCE AND RESERVE ESTIMATE FOR BOLIVAR MINE, MEXICO
Video: Sierra Metals: Investing Higher CAPEX To Reduce Costs, Increase Production & Extend Resources A couple of days ago, Fission Uranium reported that two additional high-grade holes have grown the recently discovered R1515W shallow depth, high-grade land-based zone at its’ PLS property, host to the Triple R deposit, in Canada's Athabasca Basin region. Of particular note is hole PLS17-557 (line 1530W), which encountered 47.0m total composite mineralization, including 5.29m of total composite >10,000 cps, making this the strongest hole to date at 1515W. Holes PLS17-557 (line 1530W) and PLS17-560 (line 1545W) have expanded the strike length of R1515W to 30m. In turn, the strike length of the mineralized trend at PLS has now grown to 3.17km. In addition, exploration drilling has identified new areas of interest within the Forest Lake and Patterson Lake corridors.
Furthermore, the company was able to confirm new high grade mineralization at zones R840W and R1620E zones. The drill holes are from R840W zone (6 holes) and R1620E zone (10 holes) and include hole PLS17-517 on zone R840W (line 765W) with 7.5m @ 7.31% U3O8 within a larger interval of 51.0m @ 1.89% U3O8. All sixteen holes were variably mineralized, with six holes intersecting high-grade mineralized sections grading >1% U3O8.
Fission Expands New High-Grade R1515W Zone With Strongest Hole to Date
Fission Hits 7.51% U3O8 over 7.5m in 1.89% U3O8 over 51.0m; Grows Two Zones A few days ago, Alabama Graphite announced, that it has commenced production of more than 120 kilograms of the Company’s 100% sourced-and-manufactured-in-the-contiguous-USA Coated Spherical Purified Graphite and, concurrently, more than 35 kg of its Purified Micronized Graphite for potential end-user evaluation and qualification.
With the only graphite project in the contiguous United States, all of AGC’s graphite is sourced from the Company’s flagship, 100%-owned Coosa Graphite Project — located in Coosa County, Alabama, USA. All requisite downstream secondary processing to manufacture AGC's CSPG is being conducted in the United States of America.
Thereby, the company was able to produce 99.999% Carbon total percentage by weight in a singular pass!
Therewith, Alabama Graphite is going to take a huge step forward to become the first pure graphite producer in the US.
Alabama Graphite Corp. Commences Production of >150 Kilogram Stockpile of Sourced-and-Manufactured-in-USA Specialty Battery-Ready Graphite for End User Qualification
Alabama Graphite Corp. Announces 99.999% Certified Graphite Purity in a Single Pass via Proprietary, Environmentally Sustainable Purification Process; Provides Complete Elemental Analysis A few days ago, Klondex Mines reported its preliminary operating results for the first quarter of 2017 for its Nevada and Canadian operations.
First Quarter 2017 Operating Highlights were as follows:
- Mined a total 57,633 gold equivalent ounces, in line with Company expectations
- Produced and sold a total of 34,454 and 33,737 gold equivalent ounces, respectively
- In Nevada, ore from Fire Creek was stockpiled due to heavy snowfall limiting our ability to transport ore to the Midas mill
- Built a significant stockpile in Nevada of 30,890 tons at an average grade of 0.94 gold equivalent ounces per ton containing 29,142 gold equivalent ounces. This is an increase of approximately 18,000 tons from the end of 2016. These tons will be processed at the Midas mill in the second quarter
- Forward sold 20,000 of the stockpiled gold ounces in the first quarter at an average realized price of $1,250 per ounce
- As planned, the Company continued to ramp up True North in Canada towards full production, which is expected to occur in the second half of the year
- The Company’s initial mineral resource estimate at Hollister is expected to be completed in the second quarter. Development work continued with ore silling in the Gloria zone; stockpiled ore is expected to be processed at the Midas mill in the third quarter
Caledonia Mining with production increase!
A couple of days ago, Caledonia Mining announced its gold production from the Blanket Mine, for the quarter ended 31 March 2017. Approximately 12,794 ounces of gold were produced during the Quarter, representing an 18 per cent year on year increase on the gold produced in Q1 2016 (10,822 ounces). Caledonia maintains its’ 2017 full year production guidance of approximately 60,000 ounces and remains on track with progress towards its long-term target of 80,000 ounces by 2021.
Q1 2017 Production Update
Video: Caledonia Mining: Higher Production & Lower Costs While Expanding Mine
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