Mexico's Mining Rebound to Be Driven by Metal Prices and the Sierra Madre Occidental Gold Belt
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NEW YORK, Nov. 10, 2020 /PRNewswire/ -- Held back earlier in 2020 by ongoing COVID-19 challenges, Mexico's mining sector is set for a major rebound spurred by a surge in metals prices. Much of the rebound will leverage the strong jurisdictions such as the Sierra Madre Occidental gold belt, which includes major producing mines such as the Mulatos Mine, which produced more than 2 million ounces of gold and generated more than $400 million in free cash flow since 2005. The Sierra Madre occidental range also contains a significant silver belt that's attracting investment and further exploration and development. The region is enticing international investment through a range of miners that includes Tarachi Gold Corp. (CSE:TRG) (OTCPK:TRGGF), Alamos Gold (NYSE:AGI) (TSX:AGI), Agnico Eagle (NYSE:AEM) (TSX:AEM), Pan American Silver (NASDAQ:PAAS) (TSX:PAAS), and Endeavour Silver Corp. (NYSE:EXK) (TSX:EDR).
With the right to acquire 100% of the high-potential mineral concessions known as the Tarachi project in Northwestern Mexico's Sierra Madre occidental gold belt is Tarachi Gold Corp. The project's significance is highlighted by previous exploration that delivered extremely high-grade drill results that included 34.5 g/t Au over 5.0 meters, 24.3 g/t Au over 3.0 meters, and 110.0g/t over 1.3 meters.
But perhaps more impressive has been recent channel sampling by Tarachi geologists that returned 6.34 g/t Au over 62.55 meters—which provides significant size and grade for future resource calculations. The company quickly answered those results with the announcement that it had begun its 5,000 meter diamond drilling program on the project at the end of August.
"Drilling is the most exciting phase of mineral exploration and the Company is looking forward to developing its understanding of the gold zones along strike and to depth and the potential in discovering new zones," said Tarachi CEO Lorne Warner. "The Company's recent geological and structural mapping and rock sampling program has provided new interpretations to the controls of the gold mineralization in several prospects which will greatly aid our drilling program towards success."
Alamos Gold Registered (A) Aktie jetzt über den Testsieger (Finanztest 11/2020) handeln, ab 0 € auf Smartbroker.de
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