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.
Gitennes Exploration of assay results for five more drill holes from AndeanGold’s infill drilling program on the main Urumalqui Vein (the “Vein”) at the Urumalqui Project in Perú.
These latest holes concentrate upon a 350-metre interval along strike and to the west of AndeanGold’s previously announced six drill holes, bringing the total interval of 50 metre-spaced drill intercepts to 550 metres. PGUR #01 is the western-most hole planned in the current program. Gitennes has drilled the vein an additional 500 metres further west, but on very wide-spaced intervals and only to shallow depths.
AndeanGold’s original drill program envisaged up to 23 diamond core holes and up to 4,000 metres of drilling. AndeanGold reports that it is now planning to drill up to 5,000 metres, consisting of 29 diamond core holes, in order to provide additional infill drilling in some key areas. To date, 23 holes have been completed for 3,637 metres, and all 23 completed holes have intersected the Urumalqui Vein as predicted in cross sections prepared by AndeanGold.
The program is focused on infill drilling to a depth of 200 meters so as to provide a drill spacing of approximately 50 metres along the central and south-eastern segments of the Urumalqui Vein, covering 1.0 kilometre of the 1,500 metre-long Urumalqui Vein. AndeanGold expects that this level of drilling density should be sufficient for the preparation of a NI 43-101 resource estimate, which it plans to commission upon completion, and subject to the results, of the current drilling program.
