Samco Gold and Pan American Silver to Commence Option Agreement and Related Exploration Work on the El Dorado Monserrat Project in Argentina 2016-09-16
TORONTO, ONTARIO--(Marketwired - Sept. 16, 2016) - Samco Gold Limited (TSX VENTURE:SGA) ("Samco" or the "Company") announces that Samco and Pan American Silver, through their respective local subsidiaries, agreed to set September 1, 2016, as the effective date of the previously announced option agreement dated February 4, 2015, as amended (the "Option Agreement"). The Option Agreement grants PAS the exclusive option to acquire a 60% interest in the El Dorado Monserrat project in Santa Cruz, Argentina ("EDM"). The effective date of the Option Agreement had been delayed by the parties pending resolution by Samco of the litigation commenced by Yamana Gold Inc. that referenced EDM. As announced by Samco on May 26, 2016, this litigation was settled as against Samco and its local subsidiary. As such, the parties now wish to commence the Option Agreement and related exploration work on EDM.
Pan American Silver attains project expansion milestones in Mexico 2016-09-09Primary silver producer Pan American Silver (PAS) has achieved critical milestones in two mine expansion projects in Mexico. The Vancouver-based miner said the new 618-metre deep shaft at the La Colorada mine was commissioned in fully automatic mode in early September, ahead of schedule.
Nearby Location News
Trevali discovers new high-grade zinc-lead-silver mineralization at the Santander Zinc Mine 2016-10-31
Highlights include: 6.95 metres(i) of 14.5% Zn, 7.3% Pb and 5.42 oz/t Ag
Trevali expands high-grade Santander deposits, makes new hanging-wall discovery 2016-09-21The TSX-listed stock of base metals producer Trevali Mining has risen to a new 52-week high after the company reported positive exploration results from its Santander mine, in Peru. Vancouver-based Trevali reported results from twelve new drill holes of the ongoing 2016 underground exploration drill programme, intersecting and extending both the Magistral Central and Fatima zones, while also discovering new massive sulphide replacement mineralisation in the hanging-wall to the Magistral Central deposit.
Trevali Expands High-Grade Zinc-Lead-Silver Mineralization at Santander Zinc Mine and Discovers New Central-Oyon Zone 2016-09-21
Highlights Include: 16.6 Metres of 13.8% Zn, 4.6% Pb and 3.2 oz/t Ag & 15.9 Metres of 10.2% Zn and 2.0 oz/t Ag at Magistral Central, 24.2 Metres of 5.6% Zn and 2.9 oz/t Ag at Fatima and 11.4 Metres of 4.4% Zn, 1.7% Pb and 2.7 oz/t Ag at New Central Oyon Zone
Trevali Expands High-Grade Silver-Lead-Zinc Mineralization in Magistral North and Oyon Zones at Santander Zinc Mine 2016-07-19
Highlights: 15.2 metres(i) of 6% Zn, 2.2% Pb and 8.4 oz/t Ag;
10 metres(i) of 4.3% Zn, 4.7% Pb and 5.0 oz/t Ag;
and 5.2 metres(i) of 9% Zn, 6% Pb and 8.2 oz/t Ag
Trevali Reports Additional Drill Results From New Oyon Zone at Santander Zinc Mine 2016-06-02
Highlights: 24.5 metres(i) of 5.7% Zn, 4.0% Pb and 6.0 oz/t Ag;
18.9 metres(i) of 4.1% Zn, 3.4% Pb and 3.5 oz/t Ag; and
14.7 metres(i) of 5.2% Zn, 5.8% Pb and 2.1 oz/t Ag
General 2015-05-10An underground silver mine operated by Pan American Silver, Huaron began commercial operations in 1912 under a number of different companies. In 1998, a flooding accident from the nearby Lake Naticocha caused the closure of the mine. Work began to clean up the mine and redirect the floodwaters, and in 2000, Pan American bought majority interest in the mine and began an effort to fast-track the re-opening of Huaron. The mine was re-opened in 2001, and Pan American Silver owns 100% in the operations now, producing silver, zinc, lead and copper from the project. The 2013 plans for Huaron include a $20mn investment, with the majority of the money going to a tailings dam expansion, purchasing and overhauling equipment and near-mine exploration. Pan American plans to produce between 2.85 and 2.95Moz of silver and between 500 and 1,000oz of gold at Huaron in 2013.