At the Red Mountain project in Alaska, Silver47 Exploration (TSX.V: AGA, FSE: QPE, WKN: A408EQ) is exploring mineralized zones that extend over a total trend of 55 kilometers. Many of the 35 target zones already discovered here are identified as VMS (Volcanogenic Massive Sulfide) deposits because they contain volcanically mineralized sulfides. In exploring these deposits, the recurring goal is to find the central source of volcanic activity. If successful, this usually opens the door to successful mining of the deposits.
The Red Mountain project, located near Fairbanks, Alaska, already has an inferred mineral resource of 15.6 million tonnes of rock averaging 336 g/t silver equivalent, which corresponds to a total resource of 168.6 million ounces of silver equivalent. It is currently distributed across the two resource zones, Dry Creek and West Tundra Flats.
Silver47 Exploration has already discovered further promising, as yet undeveloped silver-rich and polymetallic occurrences at the project. They are distributed along a 55-kilometer, quite promising east-west trending corridor. This gives Red Mountain unique discovery potential that Silver47 intends to systematically develop in the coming months.
The conditions for this are good, as an extensive database of historical geochemical and geophysical data is available, including 2,543 rock samples, 7,948 soil samples, and 15,862 XRF soil samples. An initial analysis of this data has already identified a number of new targets outside the current resource zones. Silver47 plans to drill these in the coming year.
A Broad Spectrum of Critical and Highly Attractive Metals and Minerals
In total, 35 mineralized deposits have already been identified along the 55-kilometer trend. Most of these zones, to which more may be added in the coming months, have not yet been explored by drilling. For Silver47, the starting position is thus very encouraging, as there is great potential for deposits with which the existing resource can be further expanded in the coming years.
Some samples already indicate how attractive the as-yet undeveloped deposits are and how abundant the metals occurring in larger quantities are. For example, a sample from the Galleon target area contained 1,295 g/t silver, while a sample taken at Horseshoe showed 3.8 g/t gold. At the Kiwi deposit, a sample contained 16.2% copper, while a sample taken at Anderson Mountain contained 32% zinc.
Twenty percent lead was detected at Jack Frost, 4,850 g/t antimony at the Bib target, 149 g/t gallium northeast of the West Tundra Flats deposit, and 98 g/t indium at the Jack Frost target were detected in the samples, and last but not least, 0.13% tin was detected in a sample from the Sheep Creek target area.
Silver47 Exploration is Already Commencing Initial Drilling
Silver47 thus has no shortage of attractive targets, and nine drill holes have already been completed at the Dry Creek and West Tundra Flats deposits. They consisted of both infill and step-out drilling to expand the resource. While the exact laboratory results are still pending, the visual findings are encouraging, as the drill cores intersected zones with massive, semi-massive, and disseminated sulfides.
The primary exploration targets for Volcanogenic Massive Sulfide (VMS) deposits at Red Mountain are distributed across the promising Bonnifield mining district. The targets range from zinc-rich to copper-rich, and many show high-grade silver and local gold mineralizations. VMS deposits consistently consist of a main source of volcanic activity and numerous more or less large satellite deposits. If a mineralization is identified as a VMS deposit, it is therefore crucial for every project to find the main source of this volcanic activity.
If successful, the respective exploration company has virtually hit the jackpot and laid an important foundation for successful mining in the future. Everything that is prominent in mining today can be traced back in its early days to the discovery and subsequent successful development of such a VMS deposit. Against this background, it becomes understandable why Silver47 Exploration is currently prioritizing the development of these VMS deposits so highly.
The Search for the Major Primary Source Has Commenced
To date, four main target trends have been defined at Red Mountain, including Dry Creek Syncline, Keevy Trend, Last Chance Corridor, and Wood River Trend. Many of the targets in the Dry Creek Syncline area were already known from previous investigations. However, numerous high-priority targets in the Keevy and Last Chance areas have only recently been identified through regional stream sediment, soil, and rock sampling on ridges and through geophysical EM surveys across the entire project area.
Of the 30 known targets, as well as the other as-yet unexplored EM targets, only eleven targets have been drilled to date, five of which with fewer than three drill holes. This makes it clear that the exploration of these zones is still in its early stages, despite the successes already achieved.
Silver47 Exploration naturally cannot guarantee the success of its efforts. Collaboration with Mother Nature is always marked by surprises – both positive and negative. However, Silver47’s current position could hardly be better. As CEO Galan McNamara explained, even the previous owners had recognized the potential of the broadly mineralized trend. Now it is up to Silver47 Exploration to systematically continue its work and bring it to a successful conclusion.
