Torex Gold Joins the World Gold CouncilBy MBN Staff | Thu, 12/03/2020 - 13:05
The Week in Mining underscores events in Mexico’s industry, where the project pipeline keeps moving forward, propelled by companies like Sonoro Gold, Great Panther, Orla Mining, Excellon Resources and Almaden Minerals. These players achieved encouraging milestones in their respective projects. In addition , Torex Gold joined the World Gold Council and the Silver Institute reported trends that will benefit Mexico.
This and more in your weekly mining roundup!
Mexico has multi-million-ounce undeveloped gold deposits, some of which are among the largest in the world. The most promising gold deposits in development in Mexico are Metates, Camino Rojo, Orisyvo, Media Luna, Cerro del Gallo, Ixtaca and Cerro Caliche.
Great Panther Mining released a mineral resource estimate for its Guanajuato Mine Complex. Results show that Measured and Indicated Resources have increased by 17 percent, while Inferred Mineral Resources have grown more than 50 percent compared to previous estimates from 2019.
Sonoro Gold Corp has secured the services of McClelland Laboratories Inc. to conduct independent metallurgical testing of the gold mineralization at the Cerro Caliche project in Sonora. The Nevada-based laboratories are among the most rigorous in North America and Sonoro’s decision to conduct metallurgical testing speaks to its commitment to advance the project to commercial production.
Orla Mining reported the start of earth moving activities at its Camino Rojo gold project in Zacatecas. Camino Rojo is the first step in Orla’s strategy to become a diversified mining company. “The start of earth moving on site marks another important milestone in the development of the project, made possible through the collective efforts of our team and stakeholders. Project advancement continues in a controlled manner, as we focus on maintaining the health and safety of our personnel,” stated Jason Simpson, President & CEO.
Almaden Minerals published results of initial surface sampling of veins discovered in the Southeast Alteration Zone of the company’s Ixtaca project, located in Puebla. “The presence of pathfinder elements in these samples is encouraging, as it corroborates our view that the SE Alteration Zone could represent the higher levels of a potential underlying epithermal system. We look forward to continued mapping and eventually drilling in this area,” said Morgan Poliquin, President & CEO.
Excellon Resources reported initial diamond drilling at the Silver City project in Saxony, Germany, with assays from an additional seven holes outstanding and a further two holes to be completed before year-end. In addition to Silver City, Excellon has projects in Idaho, a producing mine in Durango and an exploration project in Zacatecas. The results in Germany speak to the company’s R&D philosophy, which has also influenced and obtained strong results in Mexico.
MINNOVACIÓN Forum 2020, organized by the Sonora Mining Cluster, gathered more than 40 mining leaders to address topics like community relations, sustainability and innovation. Gildardo Montenegro, President of the cluster’s sustainability commission, said the forum’s goal is to share good practices and learn new strategies that support mining communities.
Silver and Gold
The Silver Institute (SI) released its Interim Silver Market Review, featuring historical supply and demand statistics and provisional estimates for 2020. Physical silver investment is expected to surge to a five-year high, even when the COVID-19 outbreak has affected global demand and mine supply. Mexico, the world’s top silver producer, is poised to benefit from these trends.
Torex Gold Resources, one of the most important gold producers in Mexico, has joined the World Gold Council’s Board of Members. “The World Gold Council has taken the lead in reinventing our industry by demanding that member companies adhere to the highest standards of ethics and corporate responsibility. We look forward to collaborating with the Council and its Membership to demonstrate the important role gold companies play in making a positive and lasting difference in our host communities and society as a whole,” said Jody Kuzenko, President and CEO of Torex Gold.