Demand for silver remains strong. In fact, according to Coin Week, “This year, the outlook for silver demand remains bright, with a 5% increase seen due to industrial fabrication, according to
Metals Focus
. Meanwhile, the global supply is forecast to rise by 3%.” Technically, while the price of silver has dropped in recent weeks, the metal is just starting to rebound from recent lows. That could be positive news for companies such as
Reyna Silver Corp.
(TSXV: RSLV) (OTCQX: RSNVF),
First Majestic Silver Corp.
(NYSE: AG) (TSX:FR),
MAG Silver Corp.
(NYSE: MAG) (TSX: MAG),
Endeavour Silver Corp.
(NYSE: EXK) (TSX: EDR), and
Pan American Silver Corp.
(NASDAQ: PAAS) (TSX: PAAS).
Look at
Reyna Silver Corp.
(TSXV: RSLV) (OTCQX: RSNVF), For Example
Reyna Silver Corp.
announced commencement of the 2022 exploration program on its 4,831-hectare Medicine Springs Project in Nevada. Medicine Springs is an 80% Earn-In from Northern Lights Resources (CSE: NLR) and shows many of the earmarks of a significant Carbonate Replacement Deposit (CRD) similar to the Santa Eulalia District in Chihuahua Mexico which hosts Reyna’s Guigui Project.
The 2022 Medicine Springs Exploration Program includes:
efining drilling targets based on on-going reevaluation of historic geological, geochemical and geophysical data provided by Northern Lights and combining them with Reyna’s Selective Jasperoid Sampling survey (See Press Release of Jan. 12, 2022),
– Conducting additional field studies to fine-tune drilling targets including continued in-fill Jasperoid sampling in the most anomalous areas.
– Permitting the upcoming campaign through the Bureau of Land Management (BLM) Notice of Intent (NOI) permitting process.
– Coordinating logistics for the drilling program.
– Undertaking the fully budgeted 5,000 – 7,000 m of drilling program.
“Reyna Silver is excited to announce kicking off our fully-funded, drilling-focused 2022 exploration campaign at Medicine Springs, which our preliminary work indicates is a fully-preserved CRD system” said
Jorge Ramiro Monroy
, CEO of Reyna Silver, “Medicine Springs is emerging as the third keystone in our portfolio of district-scale silver projects and we look forward to executing there while we keep Guigui and Batopilas moving ahead full steam.”
“We are very eager to get drills turning on Medicine Springs where we’re seeing 10 out of the 13 hallmarks of a long-lived, multi-phase CRD system even before the rigs show up,” said Dr. Peter Megaw, Chief Technical Advisor of Reyna Silver, “We’re very pleased to see how our field work has complemented the solid foundation Northern Lights Resources put together for the project.”
In 2021, Reyna Silver conducted a Selective Jasperoid Sampling survey (See Press Release of Jan. 12, 2022) focused on the prominent NE trending, multi-stage jasperoids that cut across the property along the inferred principal hydrothermal fluid pathways. The results show zoning of Copper, Lead-Zinc, and Silver and are interpreted to indicate a multi-stage high-level mineralization center at depth. Comparison of the field data to Reyna’s CRD continuum exploration model supports the idea that the full CRD spectrum is present within the land position obtained from Northern Lights. Historic data from Northern Lights on the property covers: small-scale early 20th Century mining; more contemporary shallow reverse-circulation and core drilling primarily focused on near-surface oxide targets; magnetics and CSAMT geophysics; and extensive rock chip and soil sampling.
Other related developments from around the markets include:
First Majestic Silver Corp.
announced that it has entered into a
definitive agreement
dated May 24, 2022 to sell its 100% owned past producing La Guitarra Silver Mine located in the Temascaltepec mining district, Mexico State to Sierra Madre Gold & Silver Ltd. for total consideration of US$35 million. It is a condition to closing of the Transaction that Sierra Madre raise a minimum of CDN$10 million in a private placement concurrent with or prior to closing of the Transaction. Total consideration consists of 69,063,076 Sierra Madre shares at a deemed price of $0.65 per Sierra Madre Share, having an aggregate value of US$35 million.
MAG Silver Corp.
announced the Company’s
unaudited financial results
for the three months ended March 31, 2022. During the first quarter of 2022, the 4,000 tonnes per day Juanicipio processing plant was being readied for commissioning. Water commissioning commenced during the quarter and commissioning of the grinding mills will start upon connection to the national electrical power grid. As reported by the operator Fresnillo, the regulatory approval to tie into the national power grid remains on track for mid-2022, with the expectation to ramp up the Juanicipio processing plant to 85-90% of nameplate capacity by year end.
Endeavour Silver Corp.
announced its
financial and operating results
for the three months ended March 31, 2022. “Our first quarter performance was strong, putting us on track to achieve our 2022 production guidance,” stated Dan Dickson, CEO of Endeavour Silver. “High-grade ore at Guanacevi was a driving force and is expected to continue throughout the balance of the year, while production at Bolanitos remains solid. Industry-wide inflation is a growing challenge and we continue to look for ways to mitigate its negative impact.” Added Mr. Dickson, “Looking ahead to the second quarter, we are targeting two major milestones: securing debt financing for Terronera and closing the Pitarrilla transaction. This acquisition, which is fully financed, is expected to close this quarter following receipt of approval from the Mexican Federal Economics Competition Commission. After the deal closes, drilling will commence to verify Pitarrilla’s historical data and update the historical resource. This will become a key focus for us for the balance of 2022.”
Pan American Silver Corp.
reported
unaudited results
for the quarter ended March 31, 2022. “Pan American reported strong financial performance in the quarter, enabling us to declare a dividend of $0.12 per common share for Q1, in line with the new dividend policy announced in February 2022,” said Michael Steinmann, President and Chief Executive Officer. “As we indicated in our February 23, 2022 news release, our operations experienced high levels of workforce absenteeism in January and early February due to the Omicron variant of COVID-19. Workforce deployment is now back to more normal levels, and we are maintaining our guidance for 2022 with production weighted to the second half of the year.”
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Reyna Silver Corp. by Reyna Silver Corp. We own ZERO shares of Reyna Silver Corp. Please
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