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Junior exploration, development roundup: Source, Carpathian, South American Silver

Bnamericas Published: Saturday, March 15, 2014

Ontario-based Source Exploration (NYSE MKT: GORO) announced exploration results at its Las Minas gold-silver-copper project in Mexico's Veracruz state.

Highlights of infill drilling in seven holes included 18.2m of 0.27g/t gold, 3.35g/t silver and 0.93% copper, the company said in a statement. Source plans to drill a total 2,800m at the property's El Dorado and Santa Cruz targets.

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Toronto's Carpathian Gold (TSX: CPN) said it began commissioning a processing plant at its Rio Dos Machados gold mine in Brazil.

Carpathian, which had its provisional operating license reinstated, aims to "gradually" build up monthly gold output to 8,000oz at the plant, according to a statement. Delays in the mine's start-up increased the company's debt with Macquarie Bank to US$141.2mn, leading Carpathian to study corporate restructuring, a restructuring of its gold hedge book and the potential sale of the company, it said.

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Vancouver-based South American Silver (TSX: SAC), whose Malku Khota silver-indium project was expropriated by the Bolivian government in 2012, said it is changing its name to TriMetals Mining.

The company, which acquired High Desert Gold (TSX-V: HDG) and its Gold Spring gold-silver project in Nevada in late 2013, said it will trade in Toronto under the TMI symbol. The company, which is also exploring the Escalones copper-gold deposit in Chile, is pursuing arbitration against Bolivia.

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