{kanada_flagge}Now, things are really starting to move: silver explorer Lakewood Exploration (CSE LWD / WKN A3CN1X) in the last couple of months secured very promising properties in Idaho and in the “Silver State” Nevada (we reported). The still young company is working at full speed to advance these projects as quickly as possible, with the Silver Strand project in Idaho already two steps ahead. There, Lakewood plans to drill ist initial holes in the very near future!
To prepare for this, Lakewood has now hired Coeur d’Alene Mining Contractors, experts in underground mining, to carry out minor rehabilitation work before the first drilling phase starts. Which is scheduled to begin in the next few weeks at the project located in the Coeur d’Alene mining district!
The contractor will bring the mine into compliance with United States Mine Safety and Health Administration (MSHA) regulations, complete rehabilitation work, develop 45 feet (13.72 meters) of underground drift and establish a 15-foot (4.6 meters) by 15-foot drill excavation. This will allow Lakewood to use exploration drilling to more efficiently and accurately test the potential of the ore body and its potential to depth.
Lakewood is on target to commence its initial 2,500 to 3,000 meter drill program at Silver Strand before the end of the third quarter of 2021, drilling core from both surface and the aforementioned underground drill site.
As Lakewood’s President Morgan Lekstrom stated, the Company’s development efforts will continue to open up future drilling and development opportunities while defining the depth extent and dip of the ore body and sub-parallel veins surrounding it. As Mr. Lektstrom further explained, Silver Strand sees depth potential significantly beyond the 90 meter mark where mining ended in the past.
Conclusion: Exciting times are beginning for Lakewood Exploration. The first drilling program should at least indicate whether the theories of Lakewood’s geologists on the Silver Strand mine prove to be true. Lakewood is initially testing the potential directly below the historic resource blocks with the drilling now announced, followed by a target at greater depth and further west. Considering that other large mines in the region such as Hecla Mining’s Lucky Friday mine, which has delivered 89 million ounces of silver to date, extend to over 2,000 meters of depth so far and remain open to depth, there is still tremendous exploration potential – especially since there is also 5 kilometers of untested strike length awaiting drilling!
Sure, Lakewood Exploration is an early-stage explorer with correspondingly high risk, but the experienced and reputable management team has been able to secure silver projects with huge potential, which we believe Lakewood also possesses.
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