Category: Exploration and Development

At the new project, named Plata Verde, Radius geologists have re-discovered an undocumented large scale underground bulk mining operation where in the late 1800’s, historic miners hand excavated an extensive series of anastomosing caverns, producing silver bars at an associated smelter operation. The project appears to be un-explored since the miners ceased their operations, and no references have been found within the Mexican Geological Survey. The few local residents have no knowledge of exploration companies working in the area and there are no indications of prior exploration within the mines or surrounding outcrops. Initial prospecting rock chips by Radius geologists have returned silver grades between 5 and 1070 g/t Ag.

“The discovery of strong copper mineralisation hosted by iron-rich breccia at Gregors is very promising, as there is a history of discovering and exploiting high-grade, copper-rich breccia pipes in the surrounding Cananea mining district, particularly at the nearby Cananea Copper Mine located 10km to the northwest. I’m looking forward to completing our interpretation of the results and recommencing drilling as soon as practicable.”

Doug Fulcher, President and CEO of OWL notes “the lithium exploration and development sector remains robust with the current spot price of lithium carbonate (LCE) remaining at $8,700 per tonne. The second phase of exploration drilling in the southern part of the project area is compelling given the potential of the targets.”

Due to global measures being taken to prevent and curb the spread of COVID-19, the administration of the Mexico Mining Center has made the decision to postpone the Discoveries 2020 Mining Conference.

Further to the Company’s news releases of September 24, 2019 and December 31, 2019, the Company provides the following update on its proposed acquisition of all the issued and outstanding shares of Reyna Silver Corp.

“We’ve increased the pace of drilling at the Los Ricos South Project and continue to hit wide intercepts of good grade. We’ve released the results of our first short holes along the el Abra outcrop which confirm grade starts at surface, including hole 102 which showed 10.7m of 235 g/t silver equivalent,” said Brad Langille, President and CEO.