Confidence increases that operations can resume
Just one week after the acquisition of the La Parrilla silver mine complex from First Majestic Silver was completed, Silver Storm Mining (WKN A3EWAU / TSXV SVRS) – previously Golden Tag Resources – began drilling there. This was to enable La Parrilla to be come back online. In the meantime, encouraging drill results have already been reported directly below the stopes last mined. Silver Storm is now able to back these up with high-grade analytic results!
Results from two drill holes at the Quebradillas mine returned 436 g/t silver equivalent over 4.46 meters and 330 g/t silver equivalent over 2.26 meters in the Norte Sur target zone. The latter was part of a broader mineralized interval of 8.72 metres that returned 324 g/t silver equivalent.
High-grade mineralization expanded
This is also encouraging as the new mineralization was encountered some 97 metres below the last development work in this area. Similar high-grade mineralization had been identified there in the past. Previous owner First Majestic Silver had intersected 358 g/t silver equivalent over a strike length of 51 meters at mine level 1749 over a width of 3.6 meters. In addition, 407 g/t silver equivalent over a width of 3.2 meters and over a strike length of 28 meters was encountered at the 1737 level.
The second of the holes, Q-23-007, also intersected a new zone of mineralization of 357 g/t silver equivalent over 1.77 metres, which included a strong gold mineralization intercept of 4.07 g/t. And last but not least, the first hole, Q-23-006, intersected a new zone of mineralization with 1,085 g/t (!) silver equivalent over 0.82 metres and 633 g/t silver equivalent over 0.44 metres.
Geologists’ thesis confirmed
As Greg McKenzie, CEO of Silver Storm Mining, explained, the results from within the Quebradillas mine confirm the company’s thesis that the high-grade mineralization contained in previously mined drifts can be substantially extended down dip. In this case, according to the company’s CEO, by 97 meters. McKenzie went on to explain that the new, particularly high-grade zone in hole Q-23-006 is also very interesting and will be investigated further in the next phase of drilling. The company is currently awaiting the results from drill hole Q-23-008, which is located around 30 meters to the northwest and has similar geological characteristics.
Conclusion: The drill results from the Quebradillas mine have increased the company’s understanding of the existing mineralization – as well as the confidence that the La Parrilla mine complex can be put back into operation! Silver Storm will initiate the necessary technical studies as early as 2024 in order to be able to resume mining as early as 2025.
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