LMX maintains a 3 to 10% npi interests in Mexican assets held via Minera LMX. Adios Muchachos!
Evidently sold out all their Mexican mining interests via divestment of Minera LMX S.A. de C.V. in March, 1998. As of 13Jan99 previous LMX URL now links over to Wayburn Oil & Gas so the Old Prospector un-linked it. Signed letter of intent to divest of all Mexican assets to James Thorpe for $US 10,000, assumption of $130,500 of outstanding dept (plus a 3%-10% npi capped at $ 1M). This includes the Vianey Mine (see below) on which some back taxes are apparently due. Still settling debts regarding Mexico and other activities in Feb. 1999
GCN #31 15Feb99
GCN #60 26Mar98Reports a change of focus from mineral activities and exploration in Mexico to search for unexploited oil and gas opportunities in Alberta and both on and off-shore Newfoundland. Silver-lead-zinc production at Vianey Mine will continue as will exploration on other projects discussed below
GCN 19Nov97
Vianey Mine, Guerrero. Option to purchase 108.68 acre property for $500,000. Located 124 mi SW of Mexico D.F., Vianey has been in production at around 300 t/mo for last 20 years. LMX's most advanced project poised to enter full scale production in 1997. Current proven reserves of 440,601 tonnes of material around 3.75% Zn, 1% Pb, and 3.5 opt Ag. ($65.14 rock) Expansion to 300 tpd by 3Q97. Newly discovered Don Pedro breccia pipe is 100m wide. Potential to expand sulfide/oxide reserves to the 4-5 million tonne range and production up to 750 tpd. Assays from Phase II underground drilling (7128 ft) released on Jan. 30, 1997 show mineralization continues to 150m depth. The Vianey and Twilight breccia pipes and the Tepemesquite vein were evaluated. Results are generally in the 2-5 oz Ag range, 1-2% Pb and 0.5-5.0% Zn. Some higher and some lower. Overall geometry and grade continuity not discussed. Tabulated selected results only - no sections presented. Phase III exploration and development program is underway. It will consist of 250m of drifting and 10,000 ft of diamond drilling. The first 24m on the Vianey Vein averaged 27.21 opt Ag, 8.96% Pb, 9.37% Zn on a 0.73m wide vein. Vianey is currently being developed on two levels, the 38m and the 75m with about 75 tonnes mined daily. Over 900 tonnes have been stockpiled at the surface. Various ore types are presently being tested at IMMSA's mill in Taxco.
GCN #225 24Nov97
GCN #169 3Sep97
GCN #67 8Apr97
GCN #24 4Feb97
CSW 31Jan97
Press Release 30Jan97Mina La Monja Project, Sonora is 518 hectares 90 km NE of Hermosillo. LMX has staked additional ground over a silica cap north of the property. High-grade Ag-Pb-Zn in veins, breccias, stockworks and replacements. Completed local EM and mag survey over area. Includes vertical gradient, total field mag, and 3 freq. of VLF-EM. Drilling initiated in late November, 1996. Phase I exploration slated for $160,000. Completed exploration through Phase II with 2344m surface drilling and 20m of UG drifting, trenching, line cutting and geophysics.
CMH 1998-1999
Catarina Property, BCN. Finalized agreement on Sep. 20, 1996 with Xemac Resources, Inc. defining option to acquire 100% of the 99 acre Julius Cesar concession and 75.5% interest in the 4,843 acre Catarina concession. Both are in Baja California near the town of El Rosario. Mineralization, which occurs over a 100m width is thought to represent a high-grade Cu-porphyry related breccia pipe intruding a structural break. Grid sampling and mapping planned
CSW 18Apr97
GCN #75 18Apr97
CSW 14Feb97La Verde Project, Sonora is comprised of four concessions totaling 2611.72 ha located 24 mi NE of Hermosillo. An 18 month due diligence period in in effect. Eight mineralized Zones include: La Verde, La Verde Grande, Picacho Peak, Verde Chica, Cobriza, San Jose, San Louis, and La Serrita. LMX believes the first three have the greatest potential. Past work on the property was by Ainsworth-Jenkins Holdings, Inc. among others. Staked additional 506 ha in the area to infill concessions. Detailed alteration and sampling on these Concessions scheduled for fall '97.
GCN #169 3Sep97
GCN #111 10Jun97
News Release #42 5Jun97Nuestra Senora Project, Sinaloa is comprised of four mining properties located 121 km NE of Mazatlan and just 12 km from the town of Cosala. Properties contain four past producers: Nuestra Senora (ASARCO mined in excess of 800,000 tonnes here over 10 years), Candelaria, Santo Domingo and Santa Teresa. All are located within 1 km of each other. LMX refers to these as "micro-breccia chimneys. LMX believes Candelaria has the greatest potential. Has completed access roads to Candelaria and Sto. Domingo Mines and dewatering is anticipated to begin shortly. Ore is to be stockpiled at small scale to be custom milled in Cosala.
GCN #169 3Sep97
News Release 3Jun97Acquired a bunch of Mexican properties in Sonora, at least 16 which are tabulated in News release #21 dated 9/23/96. Assets are located in Mpios of in Bacoachi (1 claim - 123 ha), Ures (6 claims of 495. 210, 500, 30, 100, 202 ha), Banamichi (2 claims of 300, 600 ha), Hermosillo(1 claim 64 ha), Arizpe (1 claim 300 ha), Rayon (1 claim 500 ha) and Huepac (1 claim 500 ha). LMX considers projects of merit to include La Corona, El Pajaro (several contiguous claims totaling 1,145 ha) and El Volcan 2, La Verde and Alfa..
Randol Mexico Mining '97 Exhibitor
GCN #230 28Nov96
CSW 27Sep96
GCN #185 24Sep96
News Release 21 dated 23Sep96
CSW 2Aug96
GCN #148 31Jul96
GCN #105 30May96
CMH 1996-1997
