Resource World Magazine

d e c e m b e r / j a n u a r y 2 0 1 6 www.resourceworld.com 25 AlexAnder nubiA drills 43.5 m of 2.61 g/t gold & 150 g/t silver At HAmAmA alexander nubia international inc. [AAN-TSXV] released excellent final results from its recent drilling program at its flagship Hamama Project, Egypt. Hamama is a gold-rich VMS (volcano- genic massive sulphide) system with a main horizon strike of 3 km, along which the three main mineralized bodies are located: Hamama West, Hamama Central and Hamama East. Mineralization consists of shallow-dipping, stacked, base-metal zones and a steeply dipping main horizon, which contains significant gold and silver mineralization along the footwall. There are northeast and northwest structural controls on mineralization at Hamama, and the system remains open both along strike and at depth. Select high-grade results for drill hole AHA-58 in Hamama West: • 39 metres (53-92 metres) at 1.64% zinc, 0.25 g/t gold and 25.7 g/t silver (base-metal zone), including 4 metres at 6.75% zinc and 0.46% copper; • 12.3 metres (92-104.3 metres) at 2.49% zinc, 0.29% copper, 0.26 g/t gold and 41.4 g/t silver (base-metal zone), including 2 metres at 3.27% zinc and 0.63% copper; • 43.5 metres (112.5-156 metres) at 3.7% zinc, 0.23% copper, 2.61 g/t gold and 150 g/t silver (main horizon), including a high- grade zone of 5 metres at 7.71 g/t gold and 208.4 g/t silver; • 50.7 metres (160-210.7 metres) at 0.69 g/t gold and 29.7 g/t silver (structural foot- wall), including 7 metres at 1.53 g/t gold and 53.9 g/t silver. (True widths are estimated to be 85-100% of reported intervals) Mark Campbell, CEO of Alexander Nubia, stated, "Our exploration team has done a fantastic job expanding the min- eralized footprint of Hamama with each drill step-out. Drill hole AHA-58, located 40 metres northwest from AHA-31, which returned 88 metres at 1.11 g/t gold and 118 g/t silver, intercepted the broadest zones containing the highest metal grades at Hamama to date, supporting our geologi- cal model that mineralization increases in width and grade with depth. The results set the stage for the next phase of drilling and further strengthens our belief in the potential of the Hamama Project." "Results from the last hole (AHA-58) drilled in our Q2 drilling at Hamama are highly encouraging and leave the sys- tem wide open," said Danae Voormeij, Exploration Manager. "We have started planning for the next program, which will entail geophysics and resource drilling at Hamama and exploration drilling at our Abu Zawal historic gold mine project." silverCrest mines Completes spinoff ArrAngement silvercrest metals inc. [SIL-TSXV] com- pleted an arrangement that established Silvercrest Metals as a separate company spun off from Silvercrest Mines Inc. Under the arrangement, 19,952,024 Silvercrest Metals shares were issued to Silvercrest Mines for distribution to the former share- holders of Silvercrest Mines (at an exchange ratio of 0.1667 of a Silvercrest Metals share for one common share of Silvercrest Mines) and 2,192,727 Silvercrest Metals shares were issued to first majestic silver Corp. [FR-TSX; AG-NYSE]. As a result, there are a total of 22,144,751 outstanding Silvercrest Metals shares owned as to 90.1% by for- mer shareholders of Silvercrest Mines and as to 9.9% by First Majestic. In consideration for the issuances of the Silvercrest Metals shares, Silvercrest Mines transferred to Silvercrest Metals the Cruz de Mayo, Las Chispas, Angel de Plata, Huasabas and Estacion Llano exploration properties in Mexico, as well as $5.25 mil- lion in cash and certain other assets owned by Silvercrest Mines. First Majestic trans- ferred to Silvercrest Metals its Guadalupe exploration property Durango. Directors and officers of Silvercrest Metals were previously the directors and or officers of Silvercrest Mines prior to the completion of the arrangement. N. Eric Fier is President and CEO and Barney Magnusson is CFO of Silvercrest Metals. goldsourCe mines building guyAnA gold mine Goldsource mines inc. [GXS-TSXV; G5M- FSE] reports construction is progressing well at its Eagle Mountain Gold Project in Guyana, South America. Commissioning for Phase I production is expected in Q4 2015 for a 1,000 tpd open pit and gravity plant. Estimated pre-production capital costs are US $4-5 million with post-com- missioning cash operating costs of US $500-600/oz. The 100 tonne-per-hour plant, designed and built by Sepro Mineral Systems is being shipped in two packages. Rehabilitation of the existing 10-km road between Mahdia town and the Eagle Mountain camp, includ- ing construction of eight new bridges is almost complete. Procurement and purchase of major equipment, including two new 500 KVA generators, is nearly completed. Pre- production auger drilling for confirmation and condemnation of the plant site is com- pleted. Site preparation of the upgraded camp, plant tailing area and initial mining area is under way. Procurement and pur- chase of a secondary processing plant for exploiting old tailings to provide construc- tion aggregate with potential residual gold recovery is under way. n mINING

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