- Bear Creek Mining Corporation (TSXV:BCM) reports mining, and exploration activities to its Mercedes Gold Mine in Mexico
- The company acquired the property in April 2022
- Since its acquisition, activities at the Mercedes Gold Mine have focused on implementing operating strategies to boost the mine’s annual gold production and begin an exploration program
- The company is also drilling a minimum of three exploration holes to test the potential for mineralization in down-faulted portions of the San Martin and Neo ore bodies
- Since April 21, 2022, 5,166 meters of reverse circulation and diamond drilling have been done
- Shares of Bear Creek Mining are down 6.76 per cent to C$0.69 as of 10:23 a.m. EDT
Bear Creek Mining (BCM) has updated mining and exploration activities at its Mercedes Gold Mine in Mexico.
The company acquired the mine in April 2022 and, since then, activities have included implementing operating strategies to improve the mine’s annual gold production and beginning an exploration program.
“The acquisition of Mercedes was predicated on our belief that the project offered underappreciated opportunities for increasing production, reducing inefficiencies, expanding mineralization and increasing cash flow,” Eric Caba, president and chief operating officer of Bear Creek Mining, said in a press release. “That belief has been reinforced since assuming ownership of Mercedes. I am impressed by the talented and dedicated Mercedes team and am confident that we will unlock Mercedes’ value and cement its position as a cornerstone of Bear Creek’s profitability.”
Since April 21, 2022, development work has doubled the number of active workers and greenfield exploration results confirm the potential for new discoveries. Additionally, 5,166 meters of reverse circulation and diamond drilling has been done at a total cost of US$526,000 while an additional 3,311 meters of greenfield exploration drilling are planned for the rest of the year.
The company said it will also be opening working areas in the higher-grade Rey de Oro and Marianas deposits in the near future. Between April 21 and July 5, gold poured at Mercedes totaled 9,757 ounces. the company anticipates gold production from the mine will continue to increase going forward.
Bear Creek Mining also said it is drilling a minimum of three exploration holes to test the potential for mineralization in down-faulted portions of the San Martin and Neo ore bodies west of the San Martin fault that was discovered in 2020.
Shares of Bear Creek Mining are down 6.76 per cent to C$0.69 as of 10:23 a.m. EDT