Past year: ▼ 22%(18.0c – 31.0c CAD)
Each one in plain English, with the numbers worked through for a shareholder.
16 Jan 2014drilling result▲ GoodMajor
The infill programme finished in December 2013; these are its results. TU-13-386 returned 81.07 metres at 1.38 g/t gold and 90.6 g/t silver including 12.60 metres at 3.76 g/t gold and 300.6 g/t silver, and TU-13-383 gave 100.89 metres at 1.53 g/t gold.
16 Dec 2013drilling result▲ Good
Northern zone infill returned 38.70 metres at 1.58 g/t gold and 36.6 g/t silver, headlined as 17.75 metres at 2.62 g/t gold and 91.1 g/t silver.
12 Dec 2013drilling result▲ GoodMajor
TU-13-349 gave 97.00 metres at 1.60 g/t gold and 115.4 g/t silver, including 43.50 metres at 3.16 g/t gold and 235.4 g/t silver.
29 Nov 2013drilling result▲ GoodMajor
TU-13-354 returned 101.00 metres at 1.92 g/t gold and 113.2 g/t silver in the main zone - a wide intercept at grades usually seen only in narrow cores.
19 Nov 2013drilling result▲ Good
Infill in the main and northern zones returned 30.90 metres at 3.38 g/t gold and 230.8 g/t silver, with a 2.00-metre interval at 3.71 g/t gold and 571.0 g/t silver.
14 Nov 2013drilling result▲ Good
Chemalaco infill returned 98.40 metres at 0.65 g/t gold and 15.0 g/t silver, and TU-13-342 gave 74.50 metres at 0.58 g/t gold including 15.25 metres at 1.28 g/t.
13 Nov 2013drilling result▲ Good
Volcanic-hosted mineralisation at the eastern end of the deposit gave 35.00 metres at 0.87 g/t gold and 12.8 g/t silver - low grade beside the vein intercepts, but it adds tonnes. With four rigs running, the company set out its plan to update the resource in early 2014 as the basis for an economic study.
28 Oct 2013drilling result▲ Good
More Chemalaco infill: 30.50 metres at 1.55 g/t gold and 69.8 g/t silver.
21 Oct 2013drilling result▲ Good
Infill drilling in Ixtaca North, now with three of four rigs on conversion work, returned 12.40 metres at 3.52 g/t gold and 122.4 g/t silver.
30 Sept 2013drilling result▲ Good
Infill drilling confirmed continuity in the Chemalaco zone with 41.65 metres at 3.25 g/t gold and 28.4 g/t silver.
24 Sept 2013drilling result▲ GoodMajor
Started converting inferred ounces into measured and indicated: two of three rigs switched to infill drilling, with the third still stepping out. The first infill holes returned 18.25 metres at 5.68 g/t gold and 923.8 g/t silver in the northern branch of the main high-grade zone.
18 Sept 2013drilling result▲ GoodMajor
Traced the high-grade volcanic-hosted zone found in November 2012 about 20 metres further east, hitting 82.00 metres at 2.62 g/t gold and 12.3 g/t silver. Modest step-outs, but the zone the maiden resource excluded keeps holding grade.
9 Sept 2013drilling result▲ Good
Chemalaco returned 25.50 metres at 0.66 g/t gold and 102.3 g/t silver, including 2.08 metres at 4.35 g/t gold and 975.0 g/t silver. Headline gold-equivalent grade of 4.4 g/t over 33.78 metres.
26 July 2013drilling result▲ Good
Nine holes around Chemalaco and the eastern volcaniclastics, the best being 21.50 metres at gold-equivalent grade of 2.2 g/t, with TU-13-265 at 43.40 metres of 0.50 g/t gold including 6.60 metres at 2.15 g/t.
10 May 2013drilling result▲ Good
Found a new vein zone east of and parallel to Chemalaco, and hit 8.25 metres at gold-equivalent grade of 4.1 g/t. TU-13-256, in a target called the Western Anticline, gave 32.50 metres at 1.05 g/t gold and 24.8 g/t silver. Drilling this year is aimed at ground next to the existing resource rather than distant targets.
7 May 2013drilling result● Neutral
First El Cobre results: 106.00 metres at 0.36 g/t gold and 0.23% copper from the first two holes, on one of four porphyry targets. Management said market conditions require it to concentrate on Tuligtic in the near term, so the copper project goes back on the shelf as soon as it is proven interesting.
25 Mar 2013resource reserve update● Neutral
Filed the independent technical report behind the January resource estimate, prepared by APEX Geoscience, Giroux Consultants and BC Mining Research. The same release put cash, gold inventory and equity investments at about $31 million in mid-January, so the company was funded for another year of drilling without raising money.
20 Mar 2013drilling result▲ Good
First results of the 2013 programme: TU-13-248 returned 97.30 metres at 0.44 g/t gold and 20.4 g/t silver, including a 2.30-metre interval at 9.45 g/t gold, headlined as 111.25 metres at 1.78 g/t gold and 54.7 g/t silver in the main zone.
21 Feb 2013drilling spud▲ Good
First drilling started at the El Cobre copper-gold porphyry project in Veracruz, fifteen months after the Titan 24 survey was run to plan it: one rig, an initial 5,000 metres in five to eight holes deeper than 500 metres, testing one of four targets over a 12-square-kilometre area.
1 Feb 2013resource reserve update▲ GoodMajor
First resource estimate for Ixtaca, two and a half years after the discovery: 56.99 million tonnes indicated at 1.10 g/t gold-equivalent for 2,019,000 ounces, plus 41.53 million tonnes inferred at 1.16 g/t for 1,552,000 ounces, at a 0.5 g/t cut-off. Scoping metallurgy recovered 88% of the gold and 82% of the silver overall, but only 54% of the gold from the volcanic rocks that host about a tenth of the ounces.
24 Jan 2013drilling result▲ Good
The last 2012 holes confirmed the high-grade area found outside the resource shell in November, adding 60.50 metres at 2.21 g/t gold and 35.8 g/t silver on section 11+000E. Fifty metres further east the grade fell away to 100.84 metres at 0.67 g/t gold and 7.5 g/t silver, and the company says the shape and orientation of the new high-grade zone are not yet understood.
22 Jan 2013drilling progress report● Neutral
Year in review and 2013 plans: work stayed almost entirely on Ixtaca, where the main zone has been joined by the parallel Ixtaca North, the perpendicular Chemalaco extension and mineralisation in the overlying volcanics, all still open. Grassroots prospecting continued but nothing else was drilled.
14 Dec 2012drilling result● Neutral
Five holes tested a gold-in-soil anomaly called Tano, 2.4 kilometres southwest of Ixtaca. Only one returned anything worth reporting - 7.00 metres at 0.71 g/t gold, including 2.00 metres at 1.76 g/t - so the first attempt to repeat the Ixtaca discovery elsewhere on the 14,000-hectare property came back thin.
26 Nov 2012drilling result▲ GoodMajor
Four holes from one pad on section 11+000E, fifty metres beyond the edge of the resource being estimated, found a new high-grade volcanic-hosted area: 134.20 metres at 3.76 g/t gold and 18.1 g/t silver, with visible gold logged for the first time at Ixtaca. The maiden resource will therefore understate the deposit from the day it is published.
19 Nov 2012drilling result▲ GoodMajor
Drilling for the first resource estimate is finished: 225 holes and 81,971.03 metres since the 2010 discovery will feed it. The final batch included 18.00 metres at 6.36 g/t gold and 14.0 g/t silver on the northeast extension, and TU-12-196 at 152.41 metres of 0.46 g/t gold.
23 Oct 2012drilling result▲ Good
Twenty holes drilled specifically to support a first resource estimate. Chemalaco gave 25.7 metres at 0.86 g/t gold and 127.8 g/t silver, while TU-12-181 in Ixtaca North returned 102.70 metres at 0.32 g/t gold and 60.3 g/t silver including a 3.55-metre interval at 928.4 g/t silver.
6 Sept 2012drilling result▲ GoodMajor
A 100-metre step-out along the northeast extension, now called Chemalaco, held up: TU-12-174 returned 99.80 metres at 1.10 g/t gold and 33.2 g/t silver. The zone that looked marginal in March is now the one growing fastest.
30 Aug 2012drilling result▲ Good
Six holes expanded Ixtaca North across three sections, the best being 15.80 metres at 0.65 g/t gold and 190.2 g/t silver. Mineralisation was also picked up in the volcanic units above, consistent with the step-out drilling reported two days earlier.
28 Aug 2012drilling result▲ GoodMajor
Stepped out to the extreme southwest end of the known mineralisation and found grade in the overlying volcanic rocks rather than the limestone basement: 30.90 metres at 1.65 g/t gold and 145.4 g/t silver. A different host rock matters because the volcanics later prove much harder to recover metal from.
8 Aug 2012drilling result▲ GoodMajor
The widest intercept reported at Ixtaca so far: 188.70 metres at 1.32 g/t gold and 97.8 g/t silver in the main zone. Three holes on one section also showed the northeast extension to be continuously mineralised over 400 metres down dip.
