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.
Drilling at Great Bear Resources’ Dixie gold project in Red Lake, Ontario, has uncovered several new mineralized zones and extended the strike length of the LP Fault to 4 km from 3.2 km.
The junior reported two discoveries on the LP Fault: the Yauro zone, between the Yuma and Auro discoveries; and the Viggo zone, 1 km southeast of Auro.
Two drill holes at Yauro collared 125 metres apart returned drill intervals including: 37.4 metres of 5.14 g/t gold from 55.6 metres depth (including 18.2 metres of 10.32 g/t, 3.3 metres of 21.33 g/t gold, 4.2 metres of 22.74 g/t gold and 2.7 metres of 32 g/t gold); and 66.2 metres of 2.01 g/t gold from 86 metres depth (including 1.7 metres of 36 g/t gold).
Viggo returned up to 7.2 metres of 1.98 g/t gold from 50.8 metres depth (including 1.2 metres of 11.03 g/t gold and 0.5 metre of 25.5 g/t gold). Discovery of the Viggo zone extends the LP fault to 4 km in strike length.
A third new discovery, North Fault, was made on an 18-km-long exploration target that runs parallel to the LP Fault. The single hole intersected Hinge zone style gold bearing quartz veins and 2.7 metres of 1.39 g/t gold. North Fault could represent a significant discovery because of its length and Great Bear will be following up with drilling during the winter 2019-20 program.
The gold system at Yauro and across the LP Fault appears to increase in width and number of gold intervals with depth.
Great Bear is conducting a 90,000-metre drill program at Dixie with three rigs; 18,000 metres remain to be drilled.
(This article first appeared in the Canadian Mining Journal)
