Orla Mining presented an update on its Camino Rojo Project, which is expected to have a substantial development in 2021. Additionally, Americas Gold and Silver expects to resume activities at its San Rafael mine. . Representatives from the US and Canada have shared their concerns about the investment environment in Mexico.
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Orla Mining has released its 1Q21 results of its the Camino Rojo (Red Path) Oxide Project in Zacatecas, as well as an update on its construction. The company said the first quarter was an important time for Camino Rojo as it made substantial progress in its construction.
The company is currently evaluating various scenarios, including the underground option with processing at the Camino Rojo and an open-pit option with processing at the Peñasquito plant. Orla Mining expects to complete a PEA by the end of 2021 to further develop and unlock the true value of Camino Rojo.
Torex Gold announced its financial and operating results for 1Q21, reporting a solid quarter with a sustained margin of 52 percent. In addition, the company shared new environmental commitments it has assumed, such as its 2020 Responsible Gold Mining Report and its new plans to develop a solar plant for its operations.
Jody Kuzenko, President and CEO of Torex, said that 2021 started with very strong gold production totaling 29,509oz, which is the highest first quarter of production from El Limón Guajes (ELG). She highlighted that the company continues to develop its Media Luna project by starting early works, drilling and obtaining its MIA permit modification.
MAG Silver released its financial and operating results for 1Q21, which reporting positive progress at its Juanicipio processing plant, including the installation of nearly 100 percent of the major equipment and furthering development of the building envelope, piping and electrical installations.
The company explained that despite COVID-19, the Juanicipio exploration program in 2020 was completed as planned. The 2021 exploration program has a budget of US$6 million, which will be used to step-out and infill drilling of the Valdecañas Vein and other target areas.
Americas Gold and Silver released its financial and operating results for 1Q21, as well as the company's plan to reopen its Cosalá Operations. The company announced it hopes to reach a resolution to resume activities at its San Rafael mine, which has been illegally blocked since January, with the objective that all workers return to work and achieve full production in 3Q21. The company was pleased that the possible resolution was achieved mainly thanks to the commitment and support for the first time from the state and federal government.
Azucar Minerals has announced the start of a focused drill program at the El Cobre porphyry copper-gold project in Veracruz. The project covers around 11,860 ha and has five main areas: North Zone, Villa Rica Zone, El Porvenir Zone, Suegro Zone and Encinal Zone. The company announced that its 2021 drilling program will focus on the Pedregal, Villa Rica and Encinal Zones.
Santacruz Silver Mining has updated information on its underground exploration activities on the Horizontes mineral zone at the Zimapan mine, Hidalgo. The 22 hole, 3,400-meter drilling program is targeting mantos, chimney and skarn-style mineralization along the projected 200-meter strike length of the Horizontes one and Horizontes two mineral bodies.
The drilling is programmed to explore 70 to 100 meters down dip from known mineralization. The objective of this exploration is to identify higher silver grade zones and use those deposits to support the ongoing milling operation at the Zimapan Project.
During the first meeting of the United States-Mexico-Canada Agreement (USMCA) Free Trade Commission, US and Canadian authorities shared their concerns regarding foreign investments in Mexico and reaffirmed their commitment to continue working together to improve the business environment in Mexico.
Canadian Minister of Small Business Export Promotion and International Trade, Mary Ng, highlighted the need to create an effective framework to provide long-term stability and economic certainty to investors, workers and the industry.