Issue link: http://resourceworld.uberflip.com/i/807573
A P R I L / M A Y 2 0 1 7 www.resourceworld.com 35 EXPLORATION & MINING ROUNDUP Golden Arrow Resources Corp. [GRG-TSXV; GARWF-OTC; GAC-FSE] is advancing its flag- ship Chinchillas silver project in Jujuy Province, Argentina. On March 2, the company announced, "The option agreement with Silver Standard Resources [SSO-TSX: SSRI-NASDAQ], for the combination of Golden Arrow's Chinchillas Project with Silver Standard's Pirquitas Mine, is still in progress. Recent drilling, funded by Silver Standard, evaluated the feasibility of creating a combined mining business with Silver Standard's Pirquitas Mine. The Environmental Report (ER) for exploitation at the Chinchillas Project has been submitted to the mining authority in Jujuy Province. The project has a resource of 100 million ounces of silver and/155 million ounces silver equivalent (AgEq) in the measured and indicated categories and 44 million ounces silver/90 million ounces AgEq in the inferred category. Golden Arrow has several additional properties in Argentina. Blue Sky Uranium Corp.'s [BSK-TSXV; BKUCF; OTC; MAL2-FSE] Amarillo Grande ura- nium project located in central Rio Negro Province, Argentina has three main properties with zones of near-surface mineralization within a 140 km trend discovered by Blue Sky. Blue Sky is currently drill- ing to prove up resources and outline economics at Amarillo Grande and has completed 46 holes. The first batch of samples has been sent to the laboratory for analysis. Argentina Lithium & Energy Corp. [LIT-TSXV; PNXLF-OTC; OAY2-FSE] has an option to earn 100% interest in 20,500 hectares of the Arizaro Salar in the mining-friendly province of Salta, Argentina. The company says that, except for a limited number of boreholes linked to the explora- tion of the Taca Taca copper project, the salar is virtually unexplored at depth. Columbus Gold Corp.'s [CGT-TSX; CBGDF- OTCQX] Montagne d'Or gold deposit in French Guiana is the subject of a recently completed Feasibility Study. Montagne d'Or hosts NI-43-101 Proven and Probable Reserves of 2.75 million ounces gold (54.11 M tonnes @ 1.58 g/t gold) and Inferred Resources of 960,000 ounces of gold (20.2 M tonnes @ 1.484 g/t gold). Upside at Montagne d'Or is currently being assessed with an exploration drilling program. Columbus Gold and joint venture partner Norgold [NORD-LSE], intend to build a mine at Montagne d'Or. Robert Giustra, Chairman and CEO of Columbus Gold said, "There is a lot of interest in funding this mine, particularly by French banks, because it is on French territory. There is also some interest from metals streaming companies and so on. Financing options are being evaluated." Continental Gold Inc.'s [CNL-TSX] 69,983 hectare Buriticá Project is 100%-owned and fully permitted. It is in the Antioquia Department in north-western Colombia. A positive Feasibility Study indicates that the Buriticá Project will be host to an economically robust, high-grade, under- ground, gold mine. January 10, 2017, Continental Gold Inc announced that it had entered into a definitive senior Credit Agreement with a special purpose vehicle of RK Mine Finance Master Fund I Limited to provide a secured project debt facility for a total of US $250 million for the development, construction and working capital requirements for the Buriticá Project. Goldsource Mines Inc. [GXS-TSXV] announced that it had reached commercial pro- duction at the Eagle Mountain gold project June 21, 2016. The project is located in Guyana, the only Carribbean country part of South America. Guyana has a stable, parliamentary democracy. The project is 45 km from the historic Omai Gold Mine, which produced an estimated 4 million ounces of gold at an average grade of approxi- mately 1.4 g/t, from 1993 to 2005. Goldsource is currently optimizing the gold recovery from the gravity-only processing plant at Eagle Mountain. Largo Resources Ltd. [LGO-TSX; LGORF- OTCQB] produces vanadium at its Maracás Menchen Mine in Brazil and in January reported a new monthly production record of 828 tonnes of vanadium pentoxide. Recently, Largo's vanadium pentoxide has been qualified for use by a major North American producer of master alloys for the aerospace industry. LSC Lithium Corp. [LSC-TSXV] has assembled a number of lithium-bearing salars in Argentina, including four flagship properties in the Lithium Triangle: Rio Grande, Pastos Grandes, Salinas Grandes and Jama. In addition, the company has 100% interests in seven salars in north- ern Argentina and five salars under option. LSC recently exercised its option to acquire 100% of the issued and outstanding share capital of LitheA Inc. from BMC Global Limited, whose principal asset is its Pozuelos property in Salta Province. Lundin Gold Inc.'s [LUG-TSX; OMX-LUG] Fruta del Norte Project in Ecuador (one of the larg- est and highest grade undeveloped gold projects in the world) has mineral reserves totalling 4.82 million ounces of gold and 6.34 million ounces of silver (15.5 million tonnes at 9.67 g/t gold and 12.7 g/t silver) with an estimated average annual gold production of 340,000 ounces at an average life of mine total cash cost of $553/oz and a LOM all-in sustaining cash cost of $623/oz. Lundin Gold's wholly-owned subsidiary Aurelian Ecuador S.A. has awarded the mine development contract for the Fruta del Norte gold project in Ecuador to a consortium. Planning and mobilization activities are to commence immediately. Hunt Mining Corp. [HMX-TSXV; HMXZF-OTC] recently delivered the first shipment of concentrate from production activities at the Martha Mine in Santa Cruz Province, Argentina. Hunt entered into an off-take agreement with Ocean Partners USA Inc. in December 2016 for the delivery of gold-sil- ver concentrate. Since 2006, Hunt's wholly owned subsidiary, Cerro Cazador, has completed explora- tion activity on Hunt's other properties in Santa Cruz – La Valenciana, El Gateado and Bajo Pobre – including 62,000 metres of drilling, 416 line-km of IP geophysical surveys and over 20,000 surface soil, sediment, channel, chip and trench samples. Trek Mining Inc. [TREK-TSXV], the surviving entity of a merger between Luna Gold and JDL Gold, resulted the following assets: • Cash of approximately C$66 million 100% ownership of the feasibility-stage • Aurizona Project in Brazil, a past-producing open-pit gold mine expected to resume production by year-end 2018 • 75% ownership of the Koricancha mill, an oper- ating gold ore processing facility in Peru • 100% ownership of the Warintza copper-molyb- denum exploration-stage project in Ecuador • 100% ownership of the high-grade, past-pro- ducing Elk gold project in British Columbia • 100% ownership of the Ricardo Claim block in Chile, strategically located on the West Fissure fault that hosts numerous porphyry copper deposits McEwen Mining Inc. [MUX-TSX; NYSE] has a 49% interest in the producing San Jose silver-gold mine in Santa Cruz Province, Argentina (Hothschild 51%). n