“To finalize this agreement is a major milestone for the Company, completely changing our trajectory towards becoming a producer with significant resource potential.” Stated Brodie Sutherland, CEO. “To now be able to explore a much larger area primed for new discoveries and provide immediate expansion potential to Pilar itself gives our shareholders added upside.”
“These encouraging drill results expand our knowledge as we continue to push the boundaries of the mineralized horizons along the Santa Cruz vein. Given the widths and grades of the intersections near existing development, this work is expected continue Guanacevi’s history of growth and reserve replacement,” stated Dan Dickson, Chief Executive Officer.
“We are very pleased to see such excellent high-grade results in the first holes ever into just one of several multi-kilometer structural trends we’ve identified cutting across the property. These structures have seen extensive prospecting and very small-scale mining, but the system has never been explored with a large-scale perspective and we are excited to see what the other structures reveal”, Dr. Craig Gibson, President and CEO commented.
Kootenay’s President & CEO, James McDonald states, “these are important holes because they increase the volume of mineralization in the D Vein shoot with impressive grades and widths.”
Commenting on the PEA, Richard Lock stated: “This is a significant start to the process of evaluating Santo Tomas. The PEA firmly demonstrates the economic viability of the Santo Tomas Project and justifies its continued development. The combination of excellent infrastructure, simple metallurgy, a cohesive and consistent grade distribution, and a low strip ratio, along with the identification of several existing opportunities for resource expansion, provide additional strength and certainty to the Project.”
“The completion of the zinc circuit in the SART is important as it expected to generate approximately $500,000 per month for cash flow, which will pay back the $2M capex quickly. We believe it will improve the metallurgical recoveries of gold and silver on the material which we are processing currently, so we expect to see production increase once commissioning is completed,” said Brad Langille, President and CEO.
Drilling is expected to be conducted in two stages and has been permitted for a total of 28 drillholes and 4200 m, commencing with a first stage in late 2023. The second stage of the drilling program will be designed subject to the results of the initial stage of RC drilling.
Kootenay’s President & CEO, James McDonald states, “On a silver equivalent basis, the project is now estimated to host 162.8 million ounces M+I and 44.4 million ounces inferred. On a silver only basis, the M+I resource for silver are estimated to total 68.2 million ounces with another 17.6 million ounces inferred.”
Volcanic’s initial prospecting samples returned exceptional gold grades at Mila prospect. In order to determine whether the very high gold grades (many samples above 1 oz gold / tonne) were the result of selective sampling or widespread across the target zones, a program of continuous 2 m chip sampling was conducted across mixed terrain of outcrop, subcrop and float boulders.
Colibri Resource Corporation is pleased to report that it has completed its Phase 3 drilling campaign at selected targets on its 4766 Ha EP Project in the prolific Caborca Gold Belt of Sonora Mexico. The Company’s team of drillers and geologists completed 2,200 metres of drilling in 17 holes. Gold assays are pending.
Mexico Mining Center © 2021 / All Rights Reserved
