NEW YORK, December 1, 2017 /PRNewswire/ --
According to data published by Transparency Market Research, the global base metal mining market projected to reach 160.19 MMT (Million Metric Tons) by 2023, which is a CAGR of 5.01% by 2023. Major mining metals include lead, copper, zinc, cobalt, and aluminum. Gold, platinum, palladium, and silver are among the precious mining metals. The role base metals play across a wide range of industries is crucial, as these minerals affect the growth of the utilities, infrastructure, and manufacturing sectors of all countries. Boreal Metals Corp. (TSX-V: BMX), Fortuna Silver Mines Inc. (NYSE: FSM), Endeavour Silver Corp. (NYSE: EXK), Hecla Mining Company (NYSE: HL), Great Panther Silver Limited (NYSE: GPL)
According to the report, the base metal mining industry is expected to grow during the forecast period, on account of increasing infrastructure development across the globe. Increasing demand for energy as well as rising urbanization are some of the important factors affecting the demand for base metals. Aluminum, which is presently the most widely consumed base metal, will benefit the most from its use in the automotive industry. Zinc is another widely consumed base metal. Zinc has been growing due to its anti-corrosion property which helps prevent corrosion in metals. Lead is primarily used in portable batteries. Thanks to use of these batteries in vehicles and emergency systems the portable batteries market, driving the demand for lead as a result.
Boreal Metals Corp. (TSX-V: BMX) is currently listed on the TSX Venture Exchange under the ticker 'BMX'. Earlier today the company announced breaking news that, "exploration drilling is underway at its 100% owned Gumsberg license property located in the prolific Bergslagen Mining District in southern Sweden (Figure 1). Boreal plans to conduct 2,500 meters of diamond drilling across three prospective high grade volcanogenic massive sulphide ("VMS") mineral trends including Östrasilvberg, Vallberget-Loberget and Gumsgruvan. Each of these silver-zinc-lead trends contain historical drilling from the 1930s and 1970s (Table 1) and mining activities that can be traced to medieval times.
"Boreal has successfully advanced three high grade mineralized trends within the 18,300 hectare Gumsberg land position to the drill testing phase," stated President and CEO Karl Antonius. "We are excited to see the results of the 2017 Drill Program given the high grades intercepted on the property by EMX Royalty Corp. in 2016". The strategically situated Gumsberg project consists of six exploration licenses in the Bergslagen Mining District of southern Sweden totaling over 18,300 hectares, where multiple zones of VMS style mineralization occur. The VMS mineralization at Gumsberg was mined from the 13th century through the early 1900s, with over 30 historic mines present on the property, most notably the Östrasilverberg mine which was the largest silver mine in Sweden between 1250 and 1590. Despite its long lived production history, relatively little modern exploration has taken place on the project. New geologic interpretations, geophysical surveys and reconnaissance drilling by EMX Royalty Corp. have led to the identification of multiple exploration targets, near the historic workings.
About Boreal Metals Corp. - Boreal is a mineral exploration company focused on the discovery of Zinc, Copper, Silver and Gold deposits in four exceptional, historical mining project areas spanning Sweden and Norway. The Company aims to discover new economic mineral deposits in known mining districts that have seen little or no modern exploration techniques. The Company is led by an experienced management team and technical team, with successful track records in mineral discovery, mining development and financing."
Fortuna Silver Mines Inc. (NYSE: FSM) is a rapidly growing precious metals producer, operating two low-cost mines in Peru and Mexico and holding commanding land positions in Peru, Mexico and Argentina. Fortuna expects to increase annual production to 8.1 million ounces of silver, 52.4 thousand ounces of gold, 30.0 million pounds of lead and 41.0 million pounds of zinc in 2017. On November 8, 2017, the company reported net income of $10.3 million, Adjusted EBITDA of $30.6 million, and revenue of $64.0 million in the third quarter of 2017. Silver production at the Caylloma Mine for the third quarter of 2017 was 234,806 ounces, 24% lower than the comparable period in 2016. Lead and zinc production were 7.7 million and 11.2 million pounds, respectively; 3%, and 6% higher than the comparable quarter in 2016.
Endeavour Silver Corp. (NYSE: EXK) is a mid-tier precious metals mining company that owns three high grade, underground, silver-gold mines in Mexico. Since start-up in 2004, Endeavour has grown its mining operations organically to produce 9.7 million ounces of silver and equivalents in 2016. On November 15, 2017, the company announced that exploration drilling on the Parral property in Chihuahua State, Mexico has discovered potential bulk tonnage silver mineralization within the Palmilla-Capuzaya-La Luz veins in the Palmilla mine area. Palmilla was an historic high grade silver mine which provided silver to the Mexican mint in the late 1800's. While most of the narrow, high grade ores were mined out from underground workings located on and immediately south of the Parral property, Endeavour drilling has outlined lower grade, bulk tonnage mineralization above and along strike of the old workings that may be amenable to open pit mining.
Hecla Mining Company (NYSE: HL) is a leading low-cost U.S. silver producer with operating mines in Alaska, Idaho and Mexico, and is a growing gold producer with an operating mine in Quebec, Canada. The Company also has exploration and pre-development properties in seven world-class silver and gold mining districts in the U.S., Canada, and Mexico, and an exploration office and investments in early-stage silver exploration projects in Canada. On November 2, 2017, the company provided an update on its exploration programs during the third quarter. Some drilling of the West Middle Vein was directed toward a new zone of high-grade mineralization that is similar to the mineralization in the previously discovered Hugh Zone on the Francine Vein. Assay results from this new zone include 0.02 oz/ton gold, 9.5 oz/ton silver, 3% copper, 2% lead, and 5% zinc over 4.0 feet and 0.07 oz/ton gold, 12.0 oz/ton silver, 4% copper, 6% lead, and 9% zinc over 5.4 feet. This mineralization is located about 300 feet west and 300 feet below the new Middle Vein underground mine development. In addition to containing high-grade gold and silver, this area also has potentially recoverable quantities of copper, lead, and zinc.
Great Panther Silver Limited (NYSE: GPL) is a primary silver mining and exploration company. Great Panther's current activities are focused on the mining of precious metals from its two wholly-owned operating mines in Mexico: the Guanajuato Mine Complex and the Topia Mine in Durango. The Company is also undertaking efforts to restart development of the Coricancha Mine in Peru which it acquired earlier this year and continues to pursue the acquisition of additional mining operations or projects in the Americas. Topia is a high-grade silver-lead-zinc Mine in the Sierra Madre Mountains of Durango State, where silver has been mined intermittently since the 1500's. Great Panther owns 100% of the concessions that comprise 6500 hectares and are accessible by road and air. Topia includes 11 small mining operations all feeding a central plant. On June 30, 2017, the Company announced that it had finalized the agreement to acquire the Coricancha gold-silver-lead-zinc-copper mine and mill complex from Nyrstar N.V. The CMC is located in the central Andes of Peru, approximately 90 kilometres by paved highway east of the city of Lima.
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