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Oct 16, 2019 (Investorideas.com via COMTEX) -- Point Roberts, WA and Delta, BC - October 16, 2019 (Investorideas.com Newswire) 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 underground high-grade vein sampling results showing positive reconciliation compared to the resource model for the Babicanora Vein, in Area 51, of the Las Chispas Project in the state of Sonora, Mexico. N. Eric Fier, SilverCrest President and CEO, commented:
"There is nothing better for exploring and de-risking a mineral deposit then having easy U/G access to a wide, steeply dipping, high-grade silver-gold vein like the Babicanora Vein in Area 51. Systematic detailed sampling and mapping of U/G blast faces for tracking mined volumes, grades and reconciliation with the resource model shows our continued conservative nature in estimating grades. Although the positive 147.7% difference in grade may not be representative for all of the Babicanora Vein, we do see indications of more very high-grade mineralization on the next mining level 1111, 15 metres above the current level 1096. We will continue with vein development on multiple mining levels (15 metres spacing) and stockpiling this mined material for inspection, feasibility work and potential future processing. Approximately 400 to 600 more metres of vein development are planned for 2019 with a stockpiling target of 25,000 to 30,000 tonnes of high-grade material containing 800,000 to 1 million AgEq ounces."
Newmont Goldcorp Corporation ( NYSE:NEM ) has announced that the Ahafo Mill Expansion in Ghana has achieved commercial production, on schedule and within budget for approximately $175 million. According to the press release, "the mill expansion is expected to increase Ahafo's average annual gold production to between 550,000 and 650,000 ounces per year through 2024, while lowering life-of-mine processing costs". Tom Palmer, President and CEO of Newmont, explained:
"The Ahafo Mill Expansion represents our third profitable project delivered on schedule and within budget in 2019, along with the Tanami Power project in Australia and the Borden mine in Canada. The mill expansion is expected to generate an internal rate of return of more than 20 percent at a $1,200 gold price, while also extending profitable production at Ahafo through at least 2029. I continue to be encouraged by Ahafo's and Ghana's mineral prospectivity and the potential for ongoing, profitable growth."
B2Gold Corp. ( NYSE American:BTG ) has completed the sale of El Limon and La Libertad Gold Mines, the Pavon Gold Project and additional mineral concessions in Nicaragua to Calibre Mining Corp. ( OTC:CXBMF ) for aggregate consideration of US$100 million. Clive Johnson , B2Gold's President and CEO, said:
"We are pleased to join forces with Calibre in Nicaragua to continue our legacy of ten years of responsible exploration, development and gold production. We are pleased to become Calibre's largest shareholder and through our roles on their Advisory Board and Board of Directors, we look forward to assisting Calibre's experienced executive team and the combined B2Gold/Calibre management team in Nicaragua."
First Majestic Silver Corp. ( NYSE:AG ) has revealed total production in the third quarter of 2019 reached 6.6 million silver equivalent ounces, which is a 4% increase over the prior quarter. The firm's total production consisted of 3.4 million ounces of silver, 35,791 ounces of gold, 1.9 million pounds of lead and 1.0 million pounds of zinc. Keith Neumeyer, President and CEO, commented:
"Total production increased 4% quarter over quarter due to higher grades and recoveries at both our Santa Elena and La Encantada operations. At La Encantada, silver recoveries averaged 82%, making it the highest recovery rate since owning this operation, following successful plant modifications to optimize ore handling and processing. In addition to higher recoveries, silver grades at La Encantada increased 59% pushing silver production to the highest level since 2014. Production at Santa Elena also reached a new record as higher gold grades were produced from the Main Vein and overall higher metallurgical recoveries were achieved following the start-up of the new HIG mill. This new mill is proving to be a major asset for this operation and I would like to recognize our projects and innovations team for a job well done."
21C Metals Inc. ( CSE:BULL ) has announced the awarding of a diamond drill contract to Vital Drilling of Val Caron, Ontario. Commencing within the next week, the contract comprises 10 to 15 holes and will focus on expanding the Pit Constrained Inferred Mineral Resource Estimate of 523,000 Palladium Equivalent (PdEq) ounces and determining a potential higher grade starter pit location.
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