Pit mining – Mine 3 http://www.mine3.net/ Mon, 12 Sep 2022 17:00:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 http://www.mine3.net/wp-content/uploads/2021/10/cropped-icon-32x32.png Pit mining – Mine 3 http://www.mine3.net/ 32 32 President lists favorable points for the CK Gold project | Mining http://www.mine3.net/president-lists-favorable-points-for-the-ck-gold-project-mining/ Mon, 12 Sep 2022 17:00:00 +0000 http://www.mine3.net/president-lists-favorable-points-for-the-ck-gold-project-mining/

ADELLA HARDING Mining Correspondent

CHEYENNE, Wyo.– According to the company’s chairman and co-founder, Luke Norman, US Gold Corp.’s CK Gold project.

He said the project is “very clean”, has the potential to become a water reservoir for the town of Cheyenne after mining ends, has the potential to become a global operation in the future as as another source of revenue and will provide royalty revenue to the state designated for education.

The State of Wyoming owns the mineral rights for the CK Gold Project site, and the State would receive a 5% royalty on production.

The gold and copper ore deposit starts on the surface, which Norman says is another good point, as the first haul trucks from the new mine would haul ore, not waste rock.

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“It was key to the economic viability of the mine,” he said.

The mine located about 20 miles west of Cheyenne would also have economic benefits for the Cheyenne region and provide about 150 to 200 permanent jobs. The company opened an office in the city in early 2021 and reached out to the community.

Norman said the Martin Marietta aggregate mining a few miles south of CK is an example of what the CK gold project could do because “the waste rock is actually high-grade aggregate,” but he said that “we will jump one hurdle at a time.”

Norman said permit applications would be filed with the Wyoming Department of Environmental Quality at any time.

Keith Guille, the DEQ’s outreach program manager, said that “once applications are deemed acceptable,” the agency will issue public notices explaining what will happen and how to comment.

One provision will allow through the Wyoming Industrial Siting Council, which reviews community impacts around proposed projects that cost more than $253.88 million, he said.

Kyle Wendtland, administrator of DEQ’s Land Quality Division, said his division will be involved when US Gold files a mining permit.

Plans call for open pit mining at the CK Gold Project site, crushing the ore, producing concentrate through an on-site flotation system, and shipping the concentrate to a smelter, such as the Brigham Canyon Mine. of Rio Tinto near Salt Lake City.

“It’s a very simple type of mine,” Norman said. “That’s the key. We won’t have cyanide or chimneys. We will be a very carbon friendly operation.

Kevin Francis, vice president of exploration and technical services, said plans call for nine trucks per day to haul the concentrate in large bulk bags.

He said the water will be “pushed out of the waste material so it can be used” and the dry, piled up residue will be salvaged for grazing.

When US Gold formed, “we were primarily focused as an exploration company in Nevada,” Norman said, and the company’s focus then was to explore the Keystone property in Eureka County. Now the focus has shifted to the CK gold project, and he said no drilling is planned in Nevada this season.

US Gold also owns the Maggie Creek exploration project on the Carlin Trend and the Challis exploration project in Idaho.

Initially, US Gold was considering selling CK, then called Copper Canyon, to “use that money for exploration at Keystone”, he said, explaining that the company was concerned about the proximity of the Copper King site. with the Curt Gowdy State Park recreation site. and the lower ore grades of the deposit.

Norman said George Bee, who was once managing director of Goldstrike Mine in Nevada and is now president and CEO of US Gold, was brought in to do a “deep dive” on the project,” and he said that you’re crazy to let go of the asset. It could be a real cash cow.

US Gold then agreed to refocus on project development at Copper King and renamed the project CK Gold Project. Bee joined US Gold in 2020 “and really took the bull by the horns,” beginning pre-feasibility study and confirmatory drilling, Norman said.

Bee then “allayed concerns” about whether US Gold might license the project, Norman said.

Bee said in an interview at Cheyenne’s office that he was “very optimistic” about the CK Gold project.

“We believe this is not only a benefit to our stakeholders and the future of the business, but we believe it will be a benefit to the community and a lasting impact on the infrastructure.”

The company has begun talks with the Cheyenne Board of Public Utilities about the possibility of the CK open pit mine becoming a reservoir for the city’s water system once mining is complete.

“I would say we’re at least close to a potential and viable option,” Norman said.

According to the Cheyenne Board of Public Utilities website, 70% of the city’s water supply comes from the mountains west of the city, with the rest coming from wells.

In the first part of the system, the Board of Public Utilities collects water from streams west of the Continental Divide and transports the water to the east side of the Continental Divide through a tunnel. Two reservoirs, Hog Park and Seminoe, store water until it is used for commercial purposes.

The system then exchanges water from Hog Park Reservoir and Seminoe Reservoir for water in Rob Roy Reservoir. Commerce exchanges water on the west side of the North Platte River watershed for water on the east side, the website says.

The system then transports water from Rob Roy to the Granite Springs and Crystal Reservoirs, and the water is gravity fed to the Medicine Bow Mountains, through the Laramie River Valley and the Laramie Mountains. Once at the top of the Laramie Mountains, the water flows by gravity to the granite and crystal reservoir.

Bee said US Gold began groundwork in September 2020, and “we believe we understand surface and ground water, wildlife, and air quality and we’ve captured weather data from the site to check the data points we have around the property”.

He said drilling in 2021 has been successfully completed to complement drilling done in 2020 to characterize hydrology and geotechnical features.

“We are not focused on further exploration at this stage. We have prioritized permits and development of initial reserves, but we have results from a few holes that confirm that we have extensions of the mineral deposit at depth and to the south of the current deposit.

Norman became chairman of the board of US Gold at the request of the board, having originally been one of the company’s founders. He replaced Bee as chairman, and Bee said in May that “Luke is a welcome addition to the board and provides exceptional capital markets experience at a time when CK Gold Project is rapidly progressing towards a ‘ready to go’ project. to start up “.”

Norman operated a consulting firm for the metals and mining industry, co-founded Gold Standard Ventures Corp., is president of Silver One Resources, which explores the historic Candelaria silver mine in Nevada, and is CEO of Leviathan Gold ltd.

He said US Gold’s board still includes former US Interior Secretary Ryan Zinke, who is running for the newly created second congressional seat in Montana and is expected to step down if elected. . Zinke joined the board in 2019.

“I’m very confident it will be a successful venture,” said Norman, who said in May when he became chairman that he had invested millions of his own money in US Gold.

Norman said, however, that the pre-feasibility study for the project used gold at $1,625 per ounce and copper at $3.25 per pound, so price changes in those commodities could affect the project.

Historical underground mine workings at the CK mining project site would likely be mined, Norman said. According to the history of the area, a well was dug in the 1880s and a mill and foundry were built but only operated for a short time.

Later owners included Hecla Mining Co., which mined the property probably in the 1930s, and several companies have drilled the property from the earliest days to the present day. 

Harmony Gold Mining Company Limited (NYSE: HMY) will pay a semi-annual dividend of $0.01 per share. http://www.mine3.net/harmony-gold-mining-company-limited-nyse-hmy-will-pay-a-semi-annual-dividend-of-0-01-per-share/ Sun, 11 Sep 2022 01:24:52 +0000 http://www.mine3.net/harmony-gold-mining-company-limited-nyse-hmy-will-pay-a-semi-annual-dividend-of-0-01-per-share/

According to Zacks, Harmony Gold Mining Company Limited (NYSE: HMY-Get Rating) announced the declaration of a semi-annual dividend on Thursday, September 8. Additionally, the mining company announced that it would distribute a dividend of $0.01 per share on Monday, October 24 to shareholders who were on the books on Friday, October 14. The dividend will be paid on Monday, October 24. Ex-dividend day is Thursday, October 13, which is coming very soon. With the company maintaining its payout ratio at 8.5%, the dividend distributed by Harmony Gold Mining is more than adequately supported by company earnings. If Harmony Gold Mining’s future payout ratio is expected to be 8.1% and the company earns the expected $0.62 per share, it should be able to maintain its current annual dividend payment of $0.05. per share.

On Friday, the first day of trading for HMY shares, the price was $2.39. The values ​​presented here are a debt ratio of 0.11, a current ratio of 1.51 and a quick ratio of 0.94. Each of these numbers has been listed in its corresponding location. Over the past year, the price of a share of Harmony Gold Mining has risen from $2.16 to $5.50, with a low of $2.16 and a high of $5.50. The company’s moving average price over the past 50 days is $3.10 and its moving average price over the past 200 days is $3.79. A significant number of research and investigation initiatives have been conducted on HMY. StockNews.com changed its recommendation for Harmony Gold Mining from “sell” to “hold” for the company in a report published Thursday, September 1. The report was published on their website. In a report released Wednesday, UBS Group recommended “neutral” rather than “buy” for Harmony Gold Mining. This recommendation was included in the report. According to information presented by MarketBeat.com, five different market researchers have suggested that investors maintain their current holdings of the company’s stock. Right now, the most common recommendation for Harmony Gold Mining is “Hold” and the $4.00 price target that has been set as the primary price target for the stock.

Several major shareholders have recently changed the number of shares held by the major owners of the company. Sequoia Financial Advisors LLC invested approximately $54,000 in Harmony Gold Mining in the first three months of 2018. In the first three months of 2018, Enlightenment Research LLC made a new investment of approximately $65,000 in Harmony Gold Mining . This investment was made in the form of a contribution. By investing just over $67,000 in Harmony Gold Mining in the first three months of the year, the Bank of New York Mellon Corporation successfully expanded the size of its investment portfolio. Private Advisor Group LLC spent about $71,000 in the first quarter to take a new position in Harmony Gold Mining. The transaction took place during the first quarter. At the end of the first quarter, Royal Bank of Canada invested approximately C$121,000 in the purchase of additional shares in Harmony Gold Mining. The shares of the company are held in portfolios by institutions up to 27.46%.

Exploration, mining and processing of the precious metal are just some of the gold related activities in which Harmony Gold Mining Company Limited is involved. In addition, it examines the probability of discovering reserves of uranium, silver, copper and molybdenum. The Company’s mining operations in South Africa consist of several surface treatment facilities and an open pit mine located on the Kraaipan greenstone belt. Additionally, there are nine underground mines located in the Witwatersrand basin. MarketBeat tracks the most reputable and successful research analysts working on Wall Street and the companies these analysts recommend to their clients daily. MarketBeat also tracks the companies that these analysts study closely. There are five companies that well-known market gurus recommend to their clients as good investments before the rest of the market spreads. However, Harmony Gold Mining is not one of these five companies.

Gold Royalties Osisko Announces Royalty Transaction with Marimaca Copper http://www.mine3.net/gold-royalties-osisko-announces-royalty-transaction-with-marimaca-copper/ Thu, 08 Sep 2022 21:05:22 +0000 http://www.mine3.net/gold-royalties-osisko-announces-royalty-transaction-with-marimaca-copper/

MONTREAL, Sept. 08, 2022 (GLOBE NEWSWIRE) — Osisko Gold Royalties Ltd. (“Osisko”) (OR: TSX & NYSE) is pleased to announce that it has acquired a 1.0% Net Smelter Return (“NSR”) royalty covering currently known mineralization and prospective exploration areas which constitute the Marimaca copper project located in Antofagasta, Chile (Figure 1).


  • Osisko acquired a 1.0% NSR royalty from Marimaca Copper Corp. (MARI: TSX) and certain of its wholly-owned subsidiaries (“Marimacca”) for a total consideration of $15.5 million;
  • Newly created royalty on the Marimaca Copper Project covering approximately 1,310 hectares, including existing resources and potential near-resource targets;
  • As part of the transaction, Osisko was granted certain rights, including a right of first refusal with respect to any royalty, stream or similar interest related to the financing of the Marimaca project;
  • The Marimaca Project is in a well-established mining jurisdiction, located 35 kilometers from the operating Mantos Blancos copper mine, owned by Capstone Copper Corp., where Osisko has a silver stream;
  • Osisko believes that the Marimaca Project is one of the major undeveloped copper projects currently held by a single-asset developer;

    • A 2020 preliminary economic assessment highlighted an annual production of copper cathodes of 36,000 tonnes over a 12-year period;
    • 41,572m of drilling in 2022 is expected to expand mineral resources to support a definitive feasibility study expected to begin later this year;
    • In particular, Marimaca has set an exploration target of 30-50Mt of 0.4-0.5% Cu for the MAMIX zone which is located at depth and along the known deposit which should add to the increased mineral inventory in future studies;

  • Simple low-strip open-pit oxidized copper project with low capital intensity;
  • Proven mining jurisdiction with access to key infrastructure including electricity, water and ports;
  • Experienced management team and board.


The Marimaca Copper Project is an oxidized, open-pit, heap-leach copper project located in Antofagasta, Chile. The asset is 100% owned by Marimaca and hosts an NI 43-101 compliant resource of 70.4 Mt grading 0.60% CuT (total copper), 0.39% CuS (soluble copper) for 420 kt CuT (276 kt CuS) in measured and indicated resources. categories plus 43 Mt grading 0.52% CuT (0.31% CuS) for 225 kt CuT (132 kt CuS) in the inferred resource category. These resources are dated December 2019 and were most recently reported in a PEA published by Marimaca in August 2020 which is available on SEDAR. Description and supporting evidence of the various exploration targets, including MAMIX, can be found in the January 20, 2022 press release. Marimaca remains on track for a resource update on the project in late September or early October and the company expects to begin a definitive feasibility study on the project later this year.

Qualified person

The scientific and technical content of this press release has been reviewed and approved by Guy Desharnais, Ph.D., P.Geo., Vice-President, Project Evaluation at Osisko Gold Royalties Ltd., who is a “qualified person” as as defined by National Instrument 43-101 – Disclosure Standards for Mining Projects (“NI 43-101”).

About Osisko Gold Royalties Ltd.

Osisko is an Americas-focused precious metals royalty intermediary company that commenced operations in June 2014. Osisko holds a North American portfolio of over 165 precious metals royalties, streams and drawdowns. Osisko’s portfolio is anchored by its flagship asset, a 5% net smelter return royalty on the Canadian Malartic mine, which is the largest gold mine in Canada.

Osisko’s head office is located at 1100, avenue des Canadiens-de-Montréal, office 300, Montreal, Quebec, H3B 2S2.

Forward-looking statements

Certain statements contained in this press release may be consideredforward-looking statements” within the meaning of applicable Canadian and United States securities laws. These beforeforward-looking statements, by their nature, require Osisko to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements.research statements. Forwardlooking statements are not guarantees of performance. These beforeforward-looking statements, may include, but are not limited to, statements regarding future events or future performance, the realization of anticipated benefits from Osisko’s investments, including its investment in the Marimaca copper project, the performance general of Osisko’s assets and the results of exploration, development, exploration and production activities as well as expansion projects relating to properties in which Osisko holds a royalty, stream or other interest and more specifically that all conditions will be met to allow the operator to bring the Marimaca copper project into production on schedule. Words such as “may”, “will”, “would”, “could”, “expect”, “believe”, “plan”, “anticipate”, “intend”, “estimate” , “continue” or the negative or comparable terminology, as well as the terms usually used in the future and the conditional, are intended to identifyresearch statements. Information contained in the frontforward-looking statements are based on certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including, without limitation, management’s perceptions of historical trends; current conditions; expected future developments; the continued operation of the properties in which Osisko holds a royalty, stream or other interest by the operators of such properties in a manner consistent with past practices; the accuracy of public statements and disclosures made by the operators of such Underlying Properties; no material adverse change in the market price of the commodities underlying the portfolio of assets; no adverse developments with respect to any material property in which Osisko holds a royalty, stream or other interest; the accuracy of publicly disclosed expectations regarding the development of underlying properties that are not yet in production; and the absence of any other factor that could cause actions, events or results to differ from those anticipated, estimated or intended. Osisko considers its assumptions to be reasonable based on information currently available, but cautions the reader that its assumptions regarding future events, many of which are beyond Osisko’s control, may ultimately prove to be incorrect as they are subject to risks. and uncertainties affecting Osisko and its business. These risks and uncertainties include, among others, the fact that the financial information presented in this press release is preliminary and could be subject to adjustments, the successful pursuit of mining activities in Quebec and more particularly of the operations underlying to the Company’s assets, the performance of Osisko’s assets, the growth and benefits from its investment portfolio, the risks associated with the operators of the properties in which Osisko holds a royalty, stream or other interest, including including changes in the ownership and control of such operators; risks related to development, permits, infrastructure, operating or technical difficulties on any of the properties in which Osisko holds a royalty, stream or other interest, the influence of macroeconomic developments as well as the impact and the responses of relevant governments to the COVID -19 outbreak and the effectiveness of those responses. In this press release, Osisko relies on information publicly disclosed by another other issuer regarding its assets and, therefore, assumes no responsibility for such public disclosure by a third party.

For more information on these and other factors and assumptions underlying the forecastforward-looking statements made in this press release, see the section entitled “Risk Factors” in Osisko’s most recent Annual Information Form which is filed with Canadian securities commissions and available electronically under Osisko’s issuer profile on SEDAR at www.sedar.com and with the United States Securities and Exchange Commission and available electronically under Osisko’s issuer profile on EDGAR at www.sec.gov. the front the forward-looking statements set forth herein reflect Osisko’s expectations as of the date of this press release and are subject to change after such date. Osisko disclaims any intention or obligation to update or revise anyforward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law.

]]> Silver X Mining: Higher-Grade Tangana Vein Ore Drives Another 57% Increase in Silver Equivalent Processed in August http://www.mine3.net/silver-x-mining-higher-grade-tangana-vein-ore-drives-another-57-increase-in-silver-equivalent-processed-in-august/ Tue, 06 Sep 2022 14:53:06 +0000 http://www.mine3.net/silver-x-mining-higher-grade-tangana-vein-ore-drives-another-57-increase-in-silver-equivalent-processed-in-august/

VANCOUVER, BC /ACCESSWIRE/September 6, 2022/ SILVER X MINING CORP. (TSX-V: AGX) (OTCQB: AGXPF) (F: WPZ) (“Silver X“or the”Company“) is pleased to provide a monthly operational update for August 2022.

August 2022 Highlights

  • 195,038 silver equivalent ounces* (AgEq) processed in August, an increase of 57% compared to July 2022.
  • Average mill head grade of 18.29 oz/t (568.77 g/t) AgEq* in August
  • Calculated August processing plant metal recoveries of 87% for silver, 80% for gold, 84% for zinc and 89% for lead
  • Intersected the Cauca vein with a cross-cut at the 650 level and began its underground exploration and development.
  • The development of Cauca will allow the eventual doubling of the active fronts in Tangana
  • Mine development focused on gold-rich ore rods and prioritizing ore grades
  • Progress of 327 meters of work at Tangana, both in drift along the Tangana and Cauca veins, development ramps and cross sections.

In August 2022, the Recuperada processing plant’s head grade averaged 18.29 oz/t AgEq*. Mill recoveries were 86.88% for silver, 79.94% for gold, 88.77% for lead and 83.88% for zinc, based on mass balance calculations .

*Note: Silver equivalent ounces for August were calculated using $1,766/oz Au, $19.8/oz Ag, $7,961/t Cu, $2,078/t Pb, 3 573 $/t Zn and do not take into account metallurgical recoveries.

Please see “Caution Regarding Production Without Mineral Reserves” at the end of this press release.

In August 2022, Silver X continued to develop the Tangana 1 and 2 veins and intercepted the Cauca vein with a cross-cut at the 650 level. Underground exploration and development at Cauca will allow for the eventual doubling of active fronts at Tangana. During the month, the underground works were extended by a further 327 metres.

In addition, the high gold grade of the recovered concentrate continues to drive sales values ​​higher, with overall concentrate grades exceeding initial expectations. The installation in the Recuperada plant of a new centrifugal gravity circuit for the recovery of free gold is on track to start operating in September. The Recuperada plant’s analytical lab now performs fire assays for gold, reducing the turnaround time for reporting results by days, increasing operational efficiency.

Figure 1: Recuperada monthly processing figures for 2022.

“After achieving initial throughput at our target plant in July, we are now seeing the benefits of the higher grade ore produced from the Tangana vein,” said José M. Garcia, CEO of Silver X. “We now have achieved our first target capacity of approximately 2M oz AgEq per year and are continuing our exploration program to further increase our resources, which will in due course allow us to proceed to the next stage of production expansion. We remain on track to execute our strategy to become one of America’s premier silver neighborhoods.”

Junior mining networkFigure 2: Long section of the Tangana 1 vein showing the stopes mined in August in light blue.

Qualified person

MA David Heyl, who is a Qualified Person under NI 43-101, has reviewed and approved the technical content of this press release for Silver XM Heyl, B.Sc., CPG, QP is a Certified Professional Geologist and]Person qualified under NI 43-101. With over 25 years of field and senior management experience, Mr. Heyl has a strong geological background in generating and leading exploration and mining programs for gold, mineral rare earths and base metals, which led to several discoveries. Mr. Heyl has 20 years of experience in Peru. He worked for Barrick Gold, was Exploration Manager for Southern Peru Copper and spent over twelve years working and supervising underground and surface mining operations in the Americas. MA David Heyl is a consultant for Silver X.

Caution Regarding Production Without Mineral Reserves

The decision to commence production at the Nueva Recuperada Project and the Company’s ongoing mining operations, as referenced herein (the “Production Decision and Operations”), are based on economic models prepared by the Company in conjunction with management’s knowledge of the property and the existing estimate of inferred mineral resources on the property. The production decision and operations are not based on a preliminary economic assessment, a pre-feasibility study or a feasibility study of mineral reserves demonstrating economic and technical viability. As a result, there is increased uncertainty and economic and technical risks of failure associated with the production decision and operations, in particular: the risk that mineral grades will be lower than expected; the risk that additional construction or ongoing mining operations may be more difficult or more costly than anticipated; and production and economic variables may vary significantly, due to the lack of detailed economic and technical analysis in accordance with NI 43-101.

About Silver X

Silver X is a Canadian silver mining company with assets in Peru. The Company’s flagship asset is the Tangana silver, gold, lead, zinc and copper project (the “Project“) located in Huancavelica, Peru, 10 km north-northwest of the Nueva Recuperada polymetallic concentrate plant. The founders and management have been successful in increasing shareholder value. For more information, visit our website at www.silverxmining.com.


Jose M. Garcia
CEO and Director

For more information, please contact:

Silver X Mining Corp.
Jose M. Garcia, CEO
+1 604 358 1382 | This email address is protected from spam. You need JavaScript enabled to view it.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution regarding “forward-looking” information

This press release contains forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking information”). Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is planned”, “budget”, “intends”, “estimates”, “plans”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions or states that certain acts, events or results “may”, “could”, “would”, “could” or “will be taken”, “will occur” or “will be carried out”. All information contained in this press release, other than statements of current and historical facts, is forward-looking information. Forward-looking information contained in this press release may include, but is not limited to, exploration plans, results of operations, expected project performance, the ability of the new project areas to supply the production of the company’s Nueva Recuperada plant in the short term. , the Company’s belief that the Tangana system will offer considerable potential for resource expansion, that the Company will be able to operate the Tangana mining unit economically and the financial performance expected of the Company.

The following are some of the assumptions on which the forward-looking information is based: that general business and economic conditions will not change in a material adverse manner; stable or improving demand and price for the products we produce; receipt of regulatory and governmental approvals, permits and renewals in a timely manner; that the Company will not experience any property accident, labor dispute or plant or equipment failure or other material disruption in the Company’s operations at the Project and at the Nueva Recuperada plant; the availability of funding for operations and development; the Company’s ability to procure operating equipment and supplies in sufficient quantities and on a timely basis; that the Project’s resource estimates and the geological, operational and price assumptions on which these and the Company’s operations are based are within reasonable limits of accuracy (including with respect to size, grade and recovery) ; the Company’s ability to attract and retain qualified personnel and directors; and management’s ability to execute strategic objectives.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as applicable, are materially different from those expressed or implied by such forward-looking information, including, but not limited to, the risks described in the Company’s annual and interim MD&As and in its public filings on www.sedar.com from time to time. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be those anticipated, estimated or expected. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

]]> History of the mining town: the Parrot vein boasted of the “best copper ore in the camp” | Local http://www.mine3.net/history-of-the-mining-town-the-parrot-vein-boasted-of-the-best-copper-ore-in-the-camp-local/ Sun, 04 Sep 2022 13:00:00 +0000 http://www.mine3.net/history-of-the-mining-town-the-parrot-vein-boasted-of-the-best-copper-ore-in-the-camp-local/

RICHARD I. GIBSON for The Montana Standard

The Parrot vein was one of the first hard rock veins discovered on Butte Hill, by Dennis Leary and HH Porter in October 1864. The vein and its extensions ran east to west, from what is now the eastern edge of the Berkeley Trough. to a point near present-day Jackson and Copper streets, a total length of nearly two miles. Gagnon and Original Mines and others mined parts of the Parrot Lode.

The parrot was called the source of the “best copper ore in the camp”, consisting of “black oxide of copper often covered with a thick layer of native silver”. Several miners and partnerships worked the full length of the seam, but the focus was on the segment south of Dublin Gulch east of Wyoming Street.

Even during the depression of 1869-1874, when Butte’s population fell to 100 or 200, work continued on the Parrot Lode. At that time Butte was called “an apple of gold in an image of silver with no one to pluck its riches”, but James Gilchrist had a well on the Parrot up to 65 feet in November 1872 reaching 105 feet in the year next, while William Park and Joseph Ramsdell sold ore to the First National Bank in Helena, which shipped it to Baltimore, Maryland, for smelting.

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With the rejuvenation of Butte in 1875, the Parrot saw at least five separate operators working the seam, including Downs, Talbot and Leary, who produced from a 90 foot shaft with two galleries which produced ore grading 38 % copper and $30 silver per ton. For comparison, good ore from the Berkeley pit contained about 3% copper and Montana Resources produces copper from ore grading about 0.3% copper.

Conrad Kohrs and WY Pemberton, a future Chief Justice of the Supreme Court of Montana, were both involved in the Parrot in the 1870s, as were prominent Montana entrepreneurs and politicians Samuel Hauser, Anton Holter and William Clark. . The success of the Parrot Mine (run by William Park) and the Parrot Ramsdell (Joseph Ramsdell), both of which reached over 1,000 feet in depth, led to the construction of the Parrot Smelter along Silver Bow Creek, just northeast of today’s Civic Center.

The ground was laid for the foundry on October 25, 1880, and the new furnaces were fired in June 1881. Much of the money for the effort came from Connecticut investors, including A. F. Midgeon and Thomas Wallace, as well as local individuals and banks. William Thompson, mayor of Butte from 1895 to 1897 and whose family is the namesake of Thompson Park, was awarded the lumber contract for the construction, amounting to 75,000 board feet.

In 1885, the Parrot foundry was the only American site to use a patented French process that produced a matte of 98% or more copper, whereas the old process only produced 70%. And in 1887, JE Gaylord invented a foundry process for hot casting slag bricks that became an industry standard.

The smelter was one of the worst offenders in terms of smoke discharge in Butte, and it closed in July 1899, while most of the surface buildings at the Parrot mine were destroyed by fire on August 8. 1900, “the worst conflagration in many years” at Butte. The Parrot Silver and Copper Company was acquired by the Amalgamated (Anaconda) Company in 1899 and the smelter was demolished in 1906.

Approximately 600,000 cubic yards of tailings and other waste generated at the Parrot smelter is being disposed of to prevent it from contaminating Silver Bow Creek.

Local geologist and historian Dick Gibson has lived in Butte since 2003 and has worked as a tour guide for various organizations and museums. He can be contacted at rigibson@earthlink.net.

Mexico’s president has revived a dangerous form of coal mining http://www.mine3.net/mexicos-president-has-revived-a-dangerous-form-of-coal-mining/ Sun, 28 Aug 2022 14:12:38 +0000 http://www.mine3.net/mexicos-president-has-revived-a-dangerous-form-of-coal-mining/

MEXICO — As hopes of saving 10 men trapped in a flooded Mexican coal mine fade, evidence mounts that the current administration’s populist policies have led to the rebirth of dangerous and primitive mines that continue to claim lives.

President Andrés Manuel López Obrador enacted a plan two years ago to revive coal-fired power plants in northern Mexico and prioritize the purchase of coal from smaller mines. The purchases were part of the president’s policy to give more income to poorer Mexicans.

In doing so, the administration has resurrected a form of coal mining so dangerous that lawmakers in both houses of Mexico’s Congress tried to ban it a decade ago.

Experts say mines so narrow and primitive that only one miner at a time can be lowered into a narrow shaft – and only one bucket of coal mined – are inherently dangerous. In some pits, called “pocitos” or “small wells”, air is pumped out and water pumped through plastic pipes. Some don’t even have that. There are usually no safety exits or auxiliary wells.

Fifteen men were working inside the Pinabete mine in Sabinas, Coahuila, about 115 kilometers southwest of Eagle Pass, Texas, on August 3. A wall of water from an abandoned mine nearby – and possibly sewage pumped in from a nearby town – filled the single shaft about 40 meters (yards) deep. He blew up so many wooden supports that they formed floating barriers for rescue teams.

Five workers managed to escape when the mine flooded, but there was no contact with the others.

The promotion of coal is part of López Obrador’s effort to bolster the electric utility, the Federal Electricity Commission, headed by old-guard politician Manuel Bartlett. Not only has the policy been questioned by environmentalists; many also said it endangers minors.

“Manuel Bartlett’s brilliant idea to buy more coal from the smaller producers and less from the big producers resulted in a black market that resulted in the operation of mines lacking the necessary safeguards to protect the lives of workers “, said Miguel Riquelme. , the governor of Coahuila state and member of the opposition Institutional Revolutionary Party, said after the crash.

The utility had defended its decision to buy about two-thirds of the coal for power generation from small mines.

“We had to have the mentality of favoring the smaller ones (producers) because we had to make their economic conditions fairer,” Miguel Alejandro López, the company’s deputy purchasing manager, said in July, describing the orders he received under López Obrador. . “Because as he (the president) said, one of the main flaws of this country is inequality.”

López said owners of small mines are required to provide proof that they are following labor laws, which govern mine safety in Mexico.

But even the president acknowledged that the Pinabete mine had failed to meet the few safety and labor standards that existed.

Accidents in small coal mines are depressingly frequent.

In June 2021, seven miners were killed at a similar small mine in Muzquiz Township, about 130 kilometers southwest of Eagle Pass, Texas. The Micarán mine shaft was also flooded and partially collapsed, and it took days to recover the miners’ bodies.

The operations resemble the wild mines of the American Wild West: horizontal coal faces extend from the bottom of the pit and are shored up by wooden posts.

In some mines, the pithead winches used to extract miners and coal are powered by old car engines placed on blocks.

Legislators already knew the dangers of narrow, unreinforced vertical shafts; accumulations of explosive gases and the risk of flooding are frequent.

As early as 2012, Mexican lawmakers attempted to pass laws to eliminate these primitive mines. The 2006 tragedy at the nearby Pasta de Conchos mine, where 65 miners died after a buildup of gas caused a fire and explosion, was still fresh in their minds. This was a larger mine where gas monitoring proved insufficient.

A 2012 Senate bill proposed “the outright banning of vertical coal mining, also known as ‘pocitos,’ because that is where the greatest risks occur.”

In 2013, a lower house bill stated, “Coal mining activities present pervasive risks because their techniques are artisanal and rudimentary… Risky mining practices should be minimized or eliminated.”

It is unclear why these laws were never passed.

Mining safety activist Cristina Auerbach noted that coal is politically sensitive in Coahuila, especially among poor communities that once lived on it.

“Coal is a political issue in Coahuila, not an economic issue,” Auerbach said.

She said that from 2006 to last year, at least 80 miners died in accidents in Coahuila. “The smallest companies in the coal region are the most precarious, like Pinabete,” she said.

But small-scale coal mining seemed to be dying out in Coahuila until López Obrador ordered the Federal Electricity Commission to increase purchases.

“The region has been revived with the new purchase orders from the federal commission,” said Diego Martínez, professor of applied earth sciences at the Autonomous University of Coahuila.

López Obrador wanted to eliminate subterfuge and corruption in coal purchases, but apparently failed in this; a man has been arrested in connection with the Pinabete mine accident after it was discovered that the mine was apparently registered under different names or titles on purchase contracts and in Department of Labor records.

No one has been convicted for the 2006 deaths at the Pasta de Conchos mine.

This is not the first time that coal mines in Coahuila have been accused of illegal practices; the miners only earn $200 a week, and even when the few government inspectors found infractions, it was difficult to shut them down.

López Obrador said the Pinabete mine’s contract with the Electricity Commission explicitly stated that it could not be contracted out, but apparently it was anyway.

Auerbach, the mine safety activist, said hundreds of “high risk” small mines continue to operate.

“That’s why we’re asking that all coal concessions given in high-risk areas be canceled because (miners) are always going to die,” she said.

Nevada Copper unveils Pumpkin Hollow restart and funding plan http://www.mine3.net/nevada-copper-unveils-pumpkin-hollow-restart-and-funding-plan/ Fri, 26 Aug 2022 19:00:16 +0000 http://www.mine3.net/nevada-copper-unveils-pumpkin-hollow-restart-and-funding-plan/

Components of the current work program include the completion of a second dike crossing during the third quarter and the last dike crossing by the end of the year, the start of the mining of the mining area at higher grade is north in the second quarter of 2023 and the restart of the plant in the third quarter of next year.

If all goes as planned, according to Nevada Copper, underground production will reach lift rates of around 3,000 tonnes per day in the third quarter of 2023 and increase to 5,000 tonnes per day in the fourth quarter of the year.

The restart will also involve changes to the company’s agreements with the underground mining contractor to improve performance and ultimately transfer some mining operations to Nevada Copper itself.

Under its financial package, Nevada Copper has entered into agreements with its lead lender KfW IPEX-Bank (KfW); its working capital provider Concord Resources Ltd. ; its main shareholder, Pala Investments, and another shareholder Mercuria Energy; and Triple Flag Precious Metals (TSX: TFPM), its stream and royalty partner.

Breaking down the $93 million financing, Pala and Mercuria will each pay $20 million in exchange for common stock in the company and KfW will amend its senior credit facility to provide a new tranche of up to $25 million, of which Pala , Mercuria and Triple Flag would pledge the first $15 million as a backstop.

Triple Flag will increase its existing net smelter returns royalty on the development of the Company’s surface mine project from 0.7% to 2% for a purchase price of $26.2 million (subject to a full buy-out of the increased royalty percentage). Triple Flag would also accelerate the remaining $3.8 million to be funded under Nevada Copper’s existing metals purchase and sale agreement.

Finally, KfW would defer three interest payments under its facility and Concord would defer interest and principal payments under its working capital facility.

Under the agreement, Triple Flag and Mercuria will each have the right to appoint one director and one representative to the Technical Committee of the Board of Directors.

Difficult ramp-up

“The Pumpkin Hollow underground mine has been challenged with its ramp-up, and with the proposed financial package, we hope the operation will be able to realize its anticipated potential,” said mining analyst Rene Cartier, which covers Triple Flag for BMO, commented on in a research note to clients. “We have moderated our short-term production guidance for the underground mine and slightly delayed the development of the open pit mine.

“While some investors [in Triple Flag] may not view the increased exposure to Pumpkin Hollow favorably, this may be offset by turnaround prospects. However, given the current footprint of the open pit and the structure of the transaction, we would not be surprised to see a buyout exercised,” added Cartier.

The Pumpkin Hollow underground mine and its open pit development project (which it is advancing through an updated pre-feasibility study) is about 13 km south-east of Yerington and about an hour and a half drive southeast of Reno.

Conveyor Belt in Mining Market Key Players Analysis, http://www.mine3.net/conveyor-belt-in-mining-market-key-players-analysis/ Thu, 25 Aug 2022 13:21:19 +0000 http://www.mine3.net/conveyor-belt-in-mining-market-key-players-analysis/

conveyor belt in mining

The Conveyor Belt in Mining Market study is a fantastic resource for competitive analysis and market growth factors for the industry projected period of 2022-2029. Using SWOT analysis, the report examines the market drivers and restraints and their impact on demand over the forecast period. By considering important elements such as revenue, cost, and gross margin, this global market research provides a comprehensive overview of product specification, product type, production, and technology analysis. The Conveyor Belt in Mining report was created using the following criteria: market type, organization size, onsite availability, and end-user organization type. North America, South America, Europe, Asia-Pacific, Middle East and Africa are some of the regions examined for the market.

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The research studies included in the Conveyor Belt in Mining study help forecast various vital areas, product success, and market share expansion. During the forecast period 2022-2029, the Conveyor Belt in Mining market is expected to grow at a significant rate. This research includes company profiles for all major players and brands dominating the market. The impact of their actions, such as product launches, joint ventures, mergers and acquisitions, on sales, imports, exports, revenues and CAGR values ​​have been carefully examined in the research. From market scenarios to benchmarking, the scope of this global Conveyor Belts in Mining market study can be broad.

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◘ Eastern rubber industries
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By Product Type, the market is primarily segmented into:

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Condor Gold Provides La India MRE Update http://www.mine3.net/condor-gold-provides-la-india-mre-update/ Tue, 23 Aug 2022 11:38:55 +0000 http://www.mine3.net/condor-gold-provides-la-india-mre-update/

published by

Global Mining Review,

Condor Gold has announcement the results of an updated mineral resource estimate (MRE) of its 100% owned La India project in Nicaragua. The updated MRE is 9,672,000 t at 3.5 g/t gold (Au) for 1,087,000 oz Au in the Indicated Mineral Resource category and 8,642,000 t at 4.3 g/t Au for 1,189,000 oz Au in the Inferred Mineral Resource category. resource category.

The MRE was prepared by SRK Consulting (US) Inc. and uses the terminology, definitions and guidelines given in the Mineral Resource and Mineral Reserve Standards of the Canadian Institute of Mining, Metallurgy and Petroleum (ICM) (May 2014) and The CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (MRMR Best Practice Guidelines, November 2019).

Strong points

  • MRE updated to 9,672,000 t at 3.5 g/t Au for 1,088,000 oz Au in the Indicated Mineral Resource category and 8,642,000 t at 4.3 g/t Au for 1,190,000 oz Au in the inferred mineral resources.
  • The open pit MRE is 8,693,000 t at 3.2 g/t Au for 893,000 oz Au in the Indicated Mineral Resource category and 3,026,000 t at 3 g/t Au for 291,000 oz Au in the category of inferred mineral resources.
  • Total underground EMR is 979,000 t at 6.2 g/t Au for 194,000 oz Au in the Indicated Mineral Resource category and 5,615,000 t at 5 g/t Au for 898,000 oz Au in the inferred mineral resources.
  • A feasibility study is underway on the La India Open Pit, which has an EMR of 8,487,000 t at 3 g/t Au for 827,000 oz Au in the Indicated Mineral Resource category and 893,000 t at 2.4 g/t Au for 69,000 oz Au in the inferred mineral resource category. There is a small silver content of 1,803,000 oz.
  • Cacao Mineral Resources increased by 69% to 1,164,000 t at 2.5 g/t Au per 101,000 oz Au in the Inferred Mineral Resource category. The deposit remains “open” laterally and at depth.
  • Updated geological interpretations and integrated litho-structural, alteration and mineralization models are incorporated into the ERM and reflect the greater degree of detail that is warranted for a pit mine feasibility study level opened La India. This is supported by closer diamond drilling in the upper part of the main La India pit, as well as additional detailed surface mapping across the deposit.

Mark Child, President and CEO, said, “Condor has produced a much more robust and conservative MRE for the entire La India project, which comprises six separate deposits, all of which have the potential for expansion. Emphasis was placed on building confidence in the geological model ahead of an upcoming feasibility study at the La India open pit mine. La India Open Pit Update Includes Infill Drilling Assay Results, New Lithologic, Structural and Alteration Model, New Depletion Model for Historic and Artisanal Mining and Increased cut-off grade of 0.65 g/t Au from 0.5 g/t Au. The updated Mineral Resource includes the latest mining costs and bulk density measurements. I am pleased that the drilling on the Cacao deposit increased the MRE in the Inferred Mineral Resource category by 69% to 101,000 oz Au at 2.5 g/t Au, the interpretation is that the drilling cut the high of a fully preserved epithermal vein system with a strike length of at least 1 km.

“The updated MRE is 9,672,000 t at 3.5 g/t Au for 1,088,000 oz Au in the Indicated Mineral Resource category and 8,642,000 t at 4.3 g/t Au for 1,190 000 oz Au in the Inferred Mineral Resource category. . A feasibility study is underway on the La India open pit mine which has an EMR of 8,487,000 t at 3 g/t Au for 827,000 oz Au in the category of indicated mineral resources and 893,000 t at 2.4 g/t Au for 69,000 oz Au in the Inferred Mineral Resource category. There is an additional 289,000 oz of Au classified as open pit material outside the main La India open pit, some in licensed pits, which will be targeted for additional initial plant feed . The plan is to add the significant underground mineral resource, currently over 1 million ounces Au, to the mine plan once in production.

Read the article online at: https://www.globalminingreview.com/exploration-development/23082022/condor-gold-provides-la-india-mre-update/

]]> Cerro de Pasco: a town that is disappearing due to mining http://www.mine3.net/cerro-de-pasco-a-town-that-is-disappearing-due-to-mining/ Sat, 20 Aug 2022 11:30:00 +0000 http://www.mine3.net/cerro-de-pasco-a-town-that-is-disappearing-due-to-mining/

Cerro de Pasco: a town that is disappearing due to mining