Higher grades and thicknesses than during mining by First Majestic
Silver Storm Mining (TSXV SVRS | FSE: SVR) is advancing preparations to restart production at the La Parrilla silver mine complex, which was acquired from First Majestic Silver last year. To this end, an initial drilling program commenced in August 2023 and is still underway, that intends to show that there is substantial mineralization to populate a new mine plan and restart production at La Parrilla. And the results of this first drill program have not disappointed Silver Storm!
As in recent weeks and months, CEO Greg McKenzie’s company was once again able to report strong drilling results, this time from three drill holes drilled within the Quebradillas mine.
Among others, Silver Storm intersected deeper extensions of the C460 zone with hole Q-23-022A and drilled 911 g/t silver equivalent over 13.05 meters, including 2,361 g/t silver equivalent over 2.60 meters and 1,266 g/t silver equivalent over a width of 2.15 meters.
This zone is exhibiting higher grades and thicknesses below the areas mined by First Majestic.
The location of the holes is of particular importance here given the objective of proving sufficient mineralization for mining within the La Parrilla mine complex. For example, the above drill intercept is located only about 62 meters below drill hole Q-23-020, where Silver Storm intersected 1,810 g/t silver equivalent over 14.6 meters. At the same time, the new hole is located only 74 meters below the most recent development work at the mine, where similar high-grade mineralization was also discovered. Historic channel sampling returned approximately 974 g/t silver equivalent over 23 meters with a width of 2.86 meters.
The Company also intersected the C460 zone with hole Q-23-023, which intersected 347 g/t silver equivalent over 9.65 meters, including 5.30 meters of 397 g/t silver equivalent. This intercept was drilled 13 meters below the previously developed 1740 EL workings. The composite weighted average grade of the historical channel samples from the 1740 EL mining area assayed 928 g/t silver equivalent over 31 meters with an average width of 1.94 meters.
Greg McKenzie, President and CEO of Silver Storm Mining, stated, “Drill results within the C460 zone continue to deliver exceptional results. The high-grade mineralization reported today in hole Q-23-022A extends this zone 62 metres below hole Q-23-020 (1,810 g/t Ag.Eq over 14.6m). Taken together, these two holes have shown that the mineralization extends 74 metres below the last adit mined (1767 EL) and has higher grades and widths than what was previously mined in this area. We will conduct further drilling at this site in 2024.”
Conclusion: In our opinion, the first drilling program to identify further silver mineralization at the La Parrilla mine complex is proving to be a complete success and is one of the pieces on a clear path to resuming production. Silver Storm CEO Greg McKenzie has already announced a further, more extensive drilling program for 2024. News flow should therefore be guaranteed!
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