Issue link: http://resourceworld.uberflip.com/i/355430
A U G U S T / S E P T E M B E R 2 0 1 4 www.resourceworld.com 61 p r o F e s s i o n a l d i r e c t o r Y WE PROMISE AND WE DELIVER IRON ORE & GOLD PROJECTS WITH DRILL INDICATED RESERVES FOR INITIAL PUBLIC OFFERING Fayz Yacoub Professional Geologist Tel: (604) 831-0424 www.ontrackexploration.com 100%-owned Pitarrilla silver-lead-zinc project in Durango. Probable reserves are 479 million oz silver. These reserves are estimated to contain 1,014 million lbs lead grading 0.29% and 2,722 million lbs zinc grading 0.79%. There is a 32-year mine life producing an average of 15 million oz silver/year during the first 18 years of pro- duction. There is an after-tax NPV of $737 million at base case metal prices and $1.7 billion at spot metal prices. There is an after- tax IRR of 12.8% at base case metal prices and 21.2% at spot prices. The company also has several exploration projects in Mexico. SilverCrest Mines Inc. [SVL-TSX SVLC-NYSE MKT] is completing a three- year expansion plan to 3,000 tpd at Santa Elena to transition from an open pit, heap leach operation to a conventional mill and underground mine. The US $99 million program comprised of drilling, Pre- Feasibility Study, detailed engineering, new processing plant, and underground development is on budget. Soltoro Ltd. [SOL-TSXV] has completed two separate ground magnetic geophysi- cal surveys at its 100%-owned Tecolote and Quila projects in Jalisco. The surveys were conducted to better understand their structural settings with a view to defining gold targets for drilling. Soltoro is also defining further resources at its El Rayo primary silver project while seeking partners for the balance of its property portfolio. The company has farmed out its La Tortuga property to Gold Reserve Inc. [GRZ-TSXV; GDRZF-OTCQB]. In 2014, a 7,000 to 12,000-metre drill program is planned to test five mineralized zones. Source Exploration Corp. [SOP-TSXV] has resumed drilling at its Las Minas prop- erty, in Veracruz State. The 2,000-metre diamond drill program commenced after a very successful Phase I winter program. Priority, 2014 Phase II drill targets include the Santa Cruz Zone, the Juan Bran Zone and the Cinco Senores Zone. Starcore International Mines Ltd. [SAM-TSX] reported production results for the fiscal 2014 third quarter, ending April 30, 2014, at its San Martin Mine in Queretaro. During the third quarter, the San Martin Mine produced 5,338 g old equivalent oz. This represents an increase in production of 4% from the same quarter in the previous year. A total of 75,375 tonnes were milled during the quar- ter at an average grade of 2.34 g/t gold and 23 g/t silver. Torex Gold Resources Inc. [TXG-TSX] has completed its infill drilling program covering the near-surface portion of the El Limon Sur area at its El Limon-Guajes gold project in Mexico. Highlighted intercepts from the infill drilling include 22.2 grams per tonne gold over 12.3 metres in borehole LS-02, 7.2 grams per tonne gold over 34.1 metres in borehole LS-20, 4.8 grams per tonne gold over 23.5 metres in borehole LS-33 and eight grams per tonne gold over 15.2 metres in bore- hole LS-41. El Limon Sur is part of the 100%-owned Morelos Project in Guerrero State. n MEXICO continued from page 21 Mine Ventilation Consultants (Canada) Inc. (mine ventilation nets, types of fan, regulators, and doors, mine air quality, temperature of the air and rock-also for Permafrost, tunnels and water pressure tunnels construction, reports) Tel: 1-613-314-6092 or 1-613-422-3900 email: mineventilationconsultantsjc@gmail.com website: http://ventilation.wix.com/website