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Home›Copper Prices›Growing industrial demand for silver is rocking the Mexican mining industry

Growing industrial demand for silver is rocking the Mexican mining industry

By Brian D. Smith
June 8, 2021
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NEW YORK, June 8, 2021 / PRNewswire / – The global health crisis may have contributed to a drop in demand for silver, but 2021 has rekindled optimism, with experts predicting demand for the white metal to reach 1.025 billion ounces, the level the highest in eight years. Silver will continue to be valuable and in demand thanks to current economic conditions in developed countries, its role as a safe haven and its function in the development of manufactured products. While silver prices remain high, countries like Mexico have experienced a boom in silver exploration and the development of mining projects. Some of the active mining stocks include Gold Minaurum inc. (TSXV: MGG) (OTCQX: MMRGF), Hecla mining (NYSE: HL), Fortuna Silver Mines (NYSE: FSM), First majestic silver (TSX: FRI) (NYSE: AG), and Blackrock Silver (TSXV: BRC) (OTC: BKRRF).

Mexico’s first silver and gold exploration company Gold Minaurum inc. (TSXV: MGG) (OTCQX: MMRGF) is focused on building an exploration portfolio with the potential for district-wide gold, silver and copper discoveries in three key regions: South Sonora State (SSS), Oaxaca Region (OXR) and the Guerrero Gold Belt (GGB). At May 18, Gold Minaurum posted a company update on its exploration activities. Among the projects currently underway since the start of 2021 are the Alamos Silver project and the Santa Marta volcanogenic massive copper-gold sulphide project.

Minaurum‘s Allamos money project is located in the silver mining area of ​​the Alamos mining district, in the south of Senora state. Minaurum has finished 30,000 m to drill in Alamos high grade epithermal vein system and discovered 26 distinct vein zones in Phase I of the project. Phase II of the Allamos The silver project will focus on the systematic expansion of silver veins discovered in the first phase and will progress with exploratory drilling to discover new silver shoots.

The 6,410 hectares Santa Marta project hosts a significant copper-gold VMS exploration target traced over 900 meters with historical sampling and Minaurum returning copper values ​​ranging from 1.0 to 11% copper. As one of the leading experts in VMS with over 40 years of experience studying VMS deposits, Dr. Jim Franklin’s the opinion is that “Santa Marta appears to have all the classic characteristics of highly productive VMS systems, such as the semi-continuous Flin Flon deposit consisting of the main mine, Calinan and Triple 7. “ Minaurum designed an initial drilling program and submitted a drilling permit for environmental approval.

Minaurum has also entered into joint ventures with other silver miners in projects such as the Taviche silver-gold project in collaboration with Fortuna Silver. In the project, Fortuna can earn an 80% interest by making cash payments totaling $ 1,450,000 and incur $ 4 million in work expenses over three years. Drilling at the Taviche project is expected to start at the end of 2021. Taviche is located next to Fortuna’s largest silver mine, the San jose mine.

Other mining projects the company is working on include:

  • The Auréna project
  • The Biricu and Vuelcos del Destino projects
  • Adelita copper-gold project advanced by Infinitum Copper Corp

Minaurum intends to market its projects district-wide due to the growing demand for precious metals. The company has already signed two option agreements and is in negotiations to conclude other agreements. Minaurum announced the first Option agreement with Fortuna Silver Mines for the Taviche mining project on January 7. The company announced the second option agreement with Infinitum Copper Corp for a joint venture on the Adelita Cuivre-or project on March 9.

Exploration activity on the rise

Hecla mining (NYSE: HL) also released its exploration report for the first quarter. According to the report, the company’s exploration efforts at Green Racer Sinter have resulted in the discovery of high-grade gold and silver mineralization in the Sinter Vein, making it “one of the best holes in the world. exploration drilling in North America last year. ”The increase in exploration activity resulted in spending of $ 6.0 million in the first quarter and the company expects to increase its exploration spending in 2021 following an increase in drilling activity at the Hecla mines. In addition to the company’s exploration efforts in Midas, Hecla has also focused its exploration efforts on two main platforms at San Sebastian thanks to its short vertical reverse circulation drilling program. You can read more about the exploration results here.

Fortuna Silver Mines (NYSE: FSM) and Roxgold Inc. have begun filing and mailing management circulars and meeting materials for their shareholder meetings to approve the proposed business combination between the two companies. Fortuna and Roxgold announced the business combination project create a low-cost, intermediate global producer of precious metals. Meetings will be held on June 28, 2021, via a virtual format only to mitigate the risks of COVID-19 for stakeholders. All shareholders will have an equal opportunity to participate in their respective shareholder meetings. Anticipating the closing of the transaction, Fortuna announced that Kate harcourt, the current director of Roxgold will be appointed to the board of directors.

First majestic silver (NYSE: AG) (TSX: FRI) possesses ad a 1.3 million Canadian dollars investment in Blackrock Silver, an exploration company with a portfolio of gold and silver properties in Nevada. First Majestic currently owns three silver mines in Mexico and a recently acquired gold mine in Nevada. The investment agreement provides for the private placement of 2,666,666 units. The offer is scheduled to close on June 8, 2021, subject to conditions such as receipt of necessary approvals, including approval from the TSX Venture Exchange. The offer will be subject to a blocking period of four months and one day from the closing date.

Blackrock Silver (TSXV: BRC) (OTC: BKRRF) ad more high-grade gold and silver interceptions from its core and RC drilling program on its Tonopah West project Nevada. The company completed 53,000 meters of drilling in less than a year and identified ten high grade veins between 400 meters and up to 1.5 kilometers in direction. On the Merton vein, the company discovered two distinct high grade zones. This vein is part of the company’s DPB target, which forms the basis of the company’s first resource estimate, which is scheduled for delivery by the end of the year. The company’s impressive exploration results give investors “a lot of short-term perspective.”

As the demand for silver and other precious metals increases, companies like Gold Minaurum inc. (TSXV: MGG) (OTCQX: MMRGF) are taking steps to explore mineral veins and forming key partnerships to facilitate their exploration and mining activities.

To learn more about Gold Minaurum Inc, Click here.

Disclaimer: Microsmallcap.com (MSC) is the source for the article and content set forth above. References to an issuer other than the profiled issuer are only intended to identify industry participants and do not constitute an endorsement of an issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and information dissemination service provider, which distributes electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned in this document. The comments, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not in any way reflect the views or opinions of FNM. Readers of this article and its content agree that they cannot and will not seek to hold MSC and FNM accountable for the investment decisions of their readers or subscribers. MSC and FNM and their respective affiliates are a provider of information dissemination and financial marketing solutions and are NOT registered brokers / analysts / investment advisers, do not hold any investment licenses and may not sell, offer sell or offer to buy securities.

The article and content related to the profiled company represent the personal and subjective opinions of the author (MSC) and are subject to change at any time without notice. The information provided in the article and the content has been obtained from sources which the author considers reliable. However, the author (MSC) has not independently verified or investigated all of this information. None of the authors, MSC, FNM or any of their respective affiliates guarantees the accuracy or completeness of this information. This article and its contents are not and should not be construed as investment advice or as a recommendation regarding any particular title or course of action; Readers are strongly encouraged to speak with their own investment advisor and review all documents filed by the profiled issuer with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with investing in the securities of the profiled issuer, including, but not limited to the total loss of your investment. FNM has not been remunerated by any public company mentioned in this document to distribute this press release but has been remunerated twenty five hundred dollars by MSC, an unaffiliated third party to distribute this release on behalf of Minaurum Gold Inc.

FNM DOES NOT HOLD ANY SHARES OF ANY COMPANY NAMED IN THIS PRESS RELEASE.

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made in accordance with to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results or strategies and are usually preceded by words such as “may”, “future”, ” plan “or” planned “,” will “or” should “,” expected “,” anticipate “,” draft “,” possibly “or” planned “. You are cautioned that these statements are subject to a multitude of risks and uncertainties which could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ. substantially from those projected. in forward-looking statements due to various factors and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other documents filed by that company with the Securities and Exchange Commission. You should take these factors into account in evaluating the forward-looking statements included in this document and not place undue reliance on such statements. The forward-looking statements contained in this press release are made as of the date hereof, and MSC and FNM do not undertake to update such statements.

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SOURCE Microsmallcap.com



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