Past year: ▼ 90%(2.00c – 21.0c USD)
Each one in plain English, with the numbers worked through for a shareholder.
23 Nov 2015resource reserve update▲ GoodMajor
An independent technical report put a first formal number on the La Sabila project in Michoacan, Mexico: 6.3 million tonnes of indicated material containing about 955,000 ounces of gold, 4.65 million ounces of silver and 68,680 tonnes of copper, from three drilling campaigns totalling 11,300 metres. The company noted the estimate covers under 1% of its 37,316-acre holding.
19 Nov 2008drilling progress report▲ GoodMajor
The company reported hole 10 assays that it says raise proven reserves 12% to 311,343 tons and probable reserves 22% to 942,559 tons, with holes 11 and 14 in progress. 3,200 of the 3,750 meters in the drilling contract are done. It also said Applied Minerals' Michael Floersch submitted a NI 43-101 compliant technical report on November 10, 2008, and that a second drilling phase will explore other targets. A lab supervisor, Carlos Becerra, was hired.
15 Sept 2008drilling progress report▲ GoodMajor
The company announced, citing Applied Minerals' report, a proven reserve of 199,200 tons across La Sabila Veins 1 and 2, valued by the company at about $57 million at the prices it used, plus a probable resource of 763,088 tons valued at about $319 million. These come from 8 drill holes covering about 5 acres of the concession. This builds on the June plan to commission a NI 43-101 report; the figures are company calculations, and the later November filing refers to the report as 'preliminary'.
8 July 2008drilling result▲ Good
Copper assays for hole 3 came back at 1.42% in the 8-foot zone, which the company says lifts its value to about $303 per ton, and 0.85% in the lower zone. The two zones total 20 feet with a weighted average of 0.045 oz/ton gold, 3.74 oz/ton silver and 1.08% copper. This completes the metals picture the July 1 release left pending; hole 5 assays were still awaited.
1 July 2008drilling progress report▲ Good
An independent lab (Chris Christopherson Inc., Idaho) reported gold and silver assays for drill hole 3: samples 43-46 averaged 0.0831 oz/ton gold and 6.165 oz/ton silver, which the company values at $185 per ton. Hole 1 also had 16 feet at 0.0915 oz/ton gold. Copper results were still awaited, and this follows the earlier report of hole 3's vein intercept.
27 June 2008drilling progress report▲ GoodMajor
The company said its La Sabila drilling continues to find mineralization, with hole 5 showing multiple sulfide intervals totaling 136 feet; assay results were still pending. It also hired Applied Minerals (Michael Floersch) to prepare a NI 43-101 compliant resource estimate and began building a lab in Morelia, Mexico. A second drill capable of 800 m depth was brought to the property.
15 Feb 2006drilling result▲ GoodMajor
The company announced estimated significant gold mineralization at its wholly-owned 3,803-hectare La Sabila project in Michoacan, Mexico, in three zones (Main, North, Cuendao). The Main zone is estimated at 3 million tonnes at 3.0 g/t gold, 20 g/t silver and 0.5% copper to 150 m depth; the press release says these are estimates based on earlier drilling by M.I.M. Holdings (now Xstrata) in 1997-98, not new company drilling. It also took an option on the 300-hectare Tajitos project in Sonora, Mexico.
