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.
GoldSpot Discoveries (TSXV: SPOT) issued a statement commending Yamana Gold (TSX: YRI; NYSE: AUY) for using machine learning technology to improve exploration targeting and contribute to meaningful increases in mineral resource inventory at its El Peñón mine in northern Chile.
In late 2018, Yamana partnered with GoldSpot to complete an exhaustive evaluation of historical mine data compiled by El Peñón, including extensive collections of geophysical data, drill information, and surface and sub-surface geochemistry and geology.
El Peñón is a high-grade, underground gold-silver mine with a 4,200-tonne-per-day agitated leaching /counter current decantation and Merrill-Crowe plant
GoldSpot worked closely with staff at El Peñón to create a predictive lithological map to identify new drill targets. The study provided a number of site-specific vein targets on surface and in the sub-surface core mine area that are being prioritized through follow-up sampling and mapping for drill testing in early 2020.
Recently, Yamana reported that El Peñón’s mineral reserves both replaced 2019 depletion and further increased such mineral reserves by 15% and 21% for gold and silver, respectively, as the result of positive infill drilling and mine design optimization. Measured and indicated mineral resources increased by 66% while silver increased by 70% compared to the prior year, due to the positive exploration results from numerous secondary vein structures in the east mine.
“The collaborative AI process undertaken with GoldSpot has allowed Yamana’s exploration team to leverage many years of multidisciplinary exploration data and is playing a significant role in the current exploration targeting process at El Peñón,” Henry Marsden, senior VP of Exploration at Yamana, said.
