Posted in | News | Gold | Mining Business

DynaResource Gets Exploitation Permit for San Pablo Mine Area of San Jose de Gracia

DynaResource, Inc. ("DynaUSA" and "the Company") is pleased to announce that DynaResource de México S.A. de C.V. ("DynaMéxico"), the 100 % owner of the San Jose de Gracia Property in northern Sinaloa, México ("SJG"), received on September 30, 2013 from the Secretaria de Medio Ambiente Y Recursos Naturales, the Federal Environmental Authority in México ("SEMARNAT"), the approval and permission which allows for the exploitation and mining activities at the San Pablo Area of SJG ("the Semarnat-SJG San Pablo Exploitation Permit", and, the "Semarnat Exploitation Permit").

Under the terms of the Semarnat Exploitation Permit, DynaMéxico will be restricted to conducting exploitation activities within the San Pablo Area of SJG (as defined in the Map of the San Pablo area as submitted to Semarnat).

Mr. K.D. Diepholz, Chairman-CEO of DynaUSA, said: "I am pleased to receive notice of this significant, permitting milestone accomplishment by DynaMéxico. I would like to recognize Dr. Jose Vargas Lugo, President of México Operations, for his commitment and diligence towards accomplishing the Semarnat Exploitation Permit. I would also like to recognize and give thanks for the support and assistance contributed to DynaMéxico and Dr. Vargas by the Office of Sinaloa State Governor Mario Lopez Valdez, including assistance provided by senior state government officials from Sinaloa, including: Lic. Roberto Ramsés Cruz Castro-Secretario de Desarrollo Económico; Lic. F. Eloy Gonzalez Shinagawa-Subsecretario de Fomento Económico de La Secretaria de Desarrollo Económico; Lic. Marco Cesar Alejo-Director de Fomento Minero; and Lic. Víctor Duarte Ruiz-Asesor de la Secretaria de Fomento Económico. I would also like to recognize the professional work contributed by Biol. Ruben Rodriguez Navarro-Director General of Estudios Ambientales Para La Sustentabilidad, S.C., and consulting engineer.

"Dr. Vargas, accompanied by the team of State Officials and supporters for DynaMéxico, met with Federal Semarnat Officials at the Federal offices in México City on July 18 and August 26, 2013; and during the meetings submitted supporting documents on behalf of DynaMéxico. I am pleased to realize the prompt response and permission issued by Semarnat to DynaMéxico on such a professional and fast track schedule.

"Accomplishing the Semarnat Exploitation Permit by DynaMéxico on this fast track is further confirmation of the strong support and assistance received by DynaMéxico from senior officials within Sinaloa State government on a consistent basis over the past 10 years. I believe that the current regime of Sinaloa State Governor Lopez Valdez offers the prime support and opportunity for foreign investment in Sinaloa, México. And, I sincerely appreciate the professional respect and support received in Sinaloa and in México by DynaMéxico.

"Considering that DynaMéxico received the Semarnat Exploitation Permit on September 30, 2013, and combined with the previous Permit to operate the SJG Pilot Mill Facility issued by Semarnat to DynaMéxico on June 17, 2013 (See "DynaMéxico Permission to Operate the Pilot Mill Facility at SJG", below); and considering that Mineras de DynaResource S.A. de C.V. ("Mineras") is the exclusive operating entity at San Jose de Gracia under the terms of the operating agreement with DynaMéxico; I expect Mineras to make immediate plans for the rehabilitation and subsequent exploitation of the San Pablo Mine area of SJG. And, I expect Mineras operatives to deliver mineralized material mined from San Pablo to the SJG Pilot Mill Facility for subsequent processing and metallurgical testing. The SJG Pilot Mill Facility (a gravimetric-flotation circuit) is projected to process mineralized material from San Pablo in operations similar to those conducted by DynaMéxico during the 2003-2006 Period." (See DynaUSA-DynaMéxico Paragraph below.)

DynaMéxico Permission to Operate Pilot Mill Facility at SJG (Permit Issued by the Federal Environmental Authority in México-SEMARNAT)
On June 17, 2013 DynaMéxico received from the Secretaria de Medio Ambiente Y Recursos Naturales, the Federal Environmental Authority in México ("SEMARNAT"), the approval and permission which allows for the rehabilitation and operation of the pilot mill facility at SJG ("the Semarnat-SJG Mill Permit", and, the "Semarnat Permit"). Under the terms of the Semarnat-SJG Mill Permit, DynaMéxico will be responsible to maintain the SJG pilot mill facility, and including the adjacent tailings pond area, in compliance with the regulations described in la Norma Oficial Mexicana ("NOM-141-SEMARNAT-2003). (See DynaUSA news release dated June 28, 2013.)

DynaUSA - DynaMéxico
DynaUSA (the "Company") is a Resource Investment and Management Company based in Irving, Texas, with a current focus on the San Jose de Gracia Project in Sinaloa México ("SJG"), targeting growth in the defining and future production of predominately gold resources. The Company formed DynaResource de México S.A. de C.V. ("DynaMéxico") in March 2000 specifically for the purpose of acquiring and consolidating the SJG District; and it completed the consolidation of the entire SJG District to DynaMéxico in 2003 (approx. 15 sq. km. at that time), with the exception of the San Miguel Mining Concession (7 Hectares, for which DynaMéxico is proceeding towards accomplishing the transfer of title to DynaMéxico, under previously signed sale and purchase agreements). During the period 2003-2006, DynaMéxico conducted Pilot Production operations at the San Pablo area of SJG, reporting production results of: 18,250 Oz. Gold sold; 42,000 tons mill feed; average feed grades of 15-20 g/t Gold; and, average production costs of less than $175./Oz. Gold.

DynaResource Management Team
In a prior news release dated September 19, 2013; the Company announced the appointment of Mr. Chad Mooney to the position of Executive Vice President-Capital Markets.
In a prior news release dated May 15, 2013, the Company announced: (1) the promotion of Dr. Jose Vargas Lugo to the position of President of México Operations; and, (2) the appointment of Mr. Keith W. Brogoitti to the position of Vice-President of México Operations.

Exclusive Operating Entity at San Jose de Gracia - Mineras is Operator
Under the provisions of Operating Agreements between Mineras de DynaResource S.A de C. V. ("Mineras") and DynaMéxico, including the Exploitation Amendment Agreement dated May 15, 2013 ("EAA"); Mineras is named the exclusive operating entity at the SJG Property. Under the provisions of the EAA, Mineras is granted the rights to finance, operate, maintain, explore and exploit the SJG Property. (See DynaUSA news release dated June 21, 2013.) DynaUSA owns 100% of Mineras.

Current Ownership of DynaMéxico - DynaUSA owns 80%
At a DynaMéxico shareholder meeting, held on the second call for shareholder's meeting on May 17, 2013 in Mazatlan, Sinaloa, México, the attending shareholders unanimously approved the issuance of 300 Series B Shares of Variable Capital of DynaMéxico to DynaUSA in exchange for the settlement of accounts payable by DynaMéxico to DynaUSA in the amount of $31,090,710 Mexican Pesos (approximately $ 2.4 M. USD). After the issuance and receipt of the 300 Series B Shares, DynaUSA holds 80% of the total outstanding Capital of DynaMéxico.(See DynaUSA news release dated June 24, 2013.)

Operator Mineras Accounts Receivable from DynaMéxico
As of October 1, 2013; Operator Mineras reports a current accounts receivable from DynaMéxico of $1,250,000 USD.

DynaMéxico - President Holding General Powers of Attorney
The Chairman-CEO of DynaUSA, who also serves as the President of DynaMéxico, holds broad powers of attorney ("POA's") for DynaMéxico which were granted and ratified by the shareholders of DynaMéxico in several written acts of the shareholders.

San Jose de Gracia ("SJG")
The San Jose de Gracia District, currently covering an area of 69,121 Hectares, is 100% owned by DynaResource de México, S.A. de C.V. ("DynaMéxico"). DynaResource, Inc. ("DynaUSA") currently holds 80% of the outstanding shares of DynaMéxico.

In excess of one million ounces gold was reportedly produced from the SJG District in the early 1900's, originating from high grade gold veins, including approximately 470,000 Oz. gold reportedly produced from the La Purisima area of SJG at an average gold grade of 66.7 g/t. In June 2010, the SJG Project was recognized by the State of Sinaloa as the most significant Gold Project in the State for the year 2010.

Current NI 43-101 Technical Report for DynaMéxico - SJG

DynaResource, Inc. received from DynaMéxico on March 28, 2012 a National Instrument 43-101 ("NI 43-101") compliant Technical Report for the San Jose de Gracia Project (the "2012 DynaMéxico Luna-CAM SJG Technical Report", the "Technical Report"), and approved by DynaMéxico, the 100% owner of SJG. The 2012 DynaMéxico Luna-CAM SJG Technical Report was prepared by Mr. Ramon Luna, BS, P.Geo., of Servicios y Proyectos Mineros, Hermosillo, México and a Qualified Person as defined under NI 43-101; and by Mr. Robert Sandefur, BS, MSc, P.E., a senior reserve analyst for Chlumsky, Armbrust & Meyer LLC, Lakewood, CO., and a Qualified Person as defined under NI 43-101. The 2012 DynaMéxico Luna-CAM SJG Technical Report includes as Section Fourteen (14) a Mineral Resource Estimate for SJG as prepared by Mr. Sandefur (the "2012 DynaMéxico-CAM SJG 43-101 Mineral Resource Estimate", and, the "Mineral Resource Estimate"). The Company filed the Technical Report on SEDAR ( on March 28, 2012.

The Company received from DynaMéxico on December 31, 2012, an updated NI 43-101 compliant ("NI 43-101") Technical Report for the San Jose de Gracia Project (the "Updated 2012 DynaMéxico Luna-CAM SJG Technical Report, and the "Updated Technical Report"). The Updated Technical Report was approved by DynaMéxico, and filed by the Company with SEDAR on December 31, 2012. (See DynaUSA news release dated January 10, 2013.)

Current NI 43-101 Mineral Resource Estimate for SJG

The 2012 DynaMéxico-CAM SJG Mineral Resource Estimate concentrates on four separate main vein systems at SJG: Tres Amigos, San Pablo, La Union, and La Purisima. The Mineral Resource Estimate includes Indicated Resources at: (1) Tres Amigos of 893,000 tonnes with an average grade of 4.46 g/t, totaling 128,000 Oz. Au; and (2) San Pablo of 1,308,000 tonnes with an average grade of 6.52 g/t, totaling 274,000 Oz. Au. The Mineral Resource Estimate also includes an Inferred Resource of 3,953,000 tonnes in aggregate for the four main vein systems, with an average grade of 5.83 g/t, totaling 741,000 Oz. Au. The Effective Date of the 2012 DynaMéxico Luna-CAM SJG Technical Reports and including the 2012 DynaMéxico-CAM SJG 43-101 Mineral Resource Estimate is February 6, 2012. The Mineral Resource Estimate is reported using a 2.0 g/t cut off grade for underground mining. As of the Effective Date of the Technical Reports and Mineral Resource Estimate, there is no economic assessment report completed for SJG so the precise cutoff grade for underground mining has not yet been determined.
On behalf of the Board of Directors of DynaUSA,

K.D. DIEPHOLZ; DynaResource, Inc; Chairman and CEO


Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.