Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
Landore Resources, with exploration offices in Thunder Bay, Ont., says the latest drill results from the BAM gold deposit continue to match previous assays. The BAM deposit, discovered in 2015, is located on the company’s Junior Lake property 235 km north-northeast of Thunder Bay.
Results from the summer drill program not previously reported assayed from hole 0419-719 – 6.23 g/t gold over 1.7 metre, including 11.75 g/t over 0.8 metre; and from hole 0419-713 – 3.23 g/t over 12.9 metres, including 28.60 g/t over 1.0 metre. BAM mineralization is now known to extend for 3,600 metres and remains open down dip as well as along strike to the east and west.
Landore’s summer drilling focused on infilling the western zone of the BAM deposit by drilling on 50-metre centres. Some of the inferred resource was upgraded to indicated for a new resource estimate and preliminary economic assessment due by the end of this year.
In January 2019 the BAM resources stood at 20.2 indicated tonnes grading 1.08 g/t gold for 701,000 contained oz. and 8.6 million tonnes at 0.90 g/t for 250,000 contained oz.
(This article first appeared in the Canadian Mining Journal)
