Category: Exploration and Development

Greg McKenzie, President and CEO commented, “We are excited to commence exploration on the Company’s 100% owned San Diego Project, host to one of Mexico’s largest undeveloped silver deposits and a prime candidate for resource expansion. San Diego is located in a highly prospective geologic setting, approximately 2 kilometres northeast of the Peñoles El Cobre Project, which has nearly 100 drill pads and recently moved into the engineering phase with optimization studies underway.”

“Silver Spruce is excited to add another large grassroots exploration property in a very productive, mining-friendly region only two kilometres from our El Mezquite property, adjacent to Minera Alamos’ Santana project, and closer to their Nicho deposit currently under construction for gold production. We expect to have the geological teams working on the Jackie property in mid-October,” said Greg Davison, Silver Spruce VP Exploration.

Matthew O’Kane, Managing Director of Comet Resources, said, “Interminco’s experienced team is now mobilising to Ensenada, which will be Comet’s in-country base of operations in Mexico. Ensenada is only 100Km from the project site by mainly sealed national highways. Interminco’s experience in Mexico will be invaluable in getting Santa Teresa exploration underway quickly and efficiently.”

“Our latest results continue to manifest significant silver over-assay percentages with magnetite association, but now also have elevated gold and copper detections. This is consistent with the IOCG deposit model originally postulated for San Javier by Dr. Hitzman in 2006. We provide a link to Dr. Hitzman’s full report on our website and are now refining our exploration focus to target this deposit type on Company claims.”

The 1750-hectare Property hosts 3 past producing silver-gold deposits, El Moro, La Virginia and La Zorra (MVZ Property). The Property is situated within Grupo Minero Diflor’s Pajarito Project which covers a 10 X 25 km, fault-bounded exposure of older sediments and intrusives surrounded by voluminous younger post-mineral rhyolites.

“We are very pleased by these high-grade silver results from the Promontorio Vein, historically the second largest producer at Alamos. These results confirm that mining stopped in mineralization and that it continues to depth,” stated Darrell Rader, President and CEO of Minaurum.

Comet Managing Director, Matthew O’Kane, commented “The initial JORC compliant Resource is the first step for Comet in moving forward with Santa Teresa. Through this process we have increased our understanding of the mineralisation. It is also interesting to see the sensitivity of the resource to different top cap grades. With the Resource being open at depth and along strike, I am confident that we can extend mineralisation with the upcoming drilling.”

Riverside’s President and CEO, John-Mark Staude, stated: “We are pleased to be working with Hochschild Mining’s fine exploration staff, as together we are refining and detailing excellent drill targets. We are particularly pleased that our sampling programs have demonstrated the link between the Santa Rosalia Mine and Santa Rosalia Sur targets. We have worked safely and effectively through COVID-19 and our in-country Mexico team now has the field camp set up with all operational capabilities to commence drilling this fall.”