New zone of mineralization discovered in Eastern Rosarios
Again and again Silver Storm Mining (WKN A3EWAU / TSXV SVRS) reports results from the first phase of the drilling program at the La Parrilla silver mine complex. And again and again, the CEO is able to report strong results from the complex, which was taken over from First Majestic Silver last year!
Today, these are the first results from the Rosario mine. Here, Silver Storm has encountered numerous high-grade ore intersections below and near areas where First Majestic has mined in the past. And the company is already venturing out of cover and saying that the current results, in conjunction with the historical drill holes, should have a positive impact on future resource estimates for La Parrilla – both in terms of grade and tonnage!
The results
At Central Rosarios, hole RO-24-015 returned 598 g/t Ag.Eq (silver equivalent) over 3.91 meters, including 1,170 g/t Ag.Eq over 0.50 meters and 1,071 g/t Ag.Eq over 1.35 meters. RO-24-014 returned 431 g/t Ag.Eq over 0.69 meters and 285 g/t Ag.Eq over 1.02 meters and hole RO-24-020 returned 300 g/t Ag.Eq over 1.87 meters including 588 g/t Ag.Eq over 0.46 meters. In addition, hole RO-24-018 returned 928 g/t Ag.Eq over 0.50 meters and hole RO-24-017 returned 225 g/t Ag.Eq over .48 meters.
According to the company, a total of seven drill holes in this part of Rosario have revealed high-grade mineralization outside the known deposits!
Accordingly, at Western Rosarios, Rosario, hole RO-24-001 returned 283 g/t Ag.Eq over 3.84 meters, including 542 g/t Ag.Eq over 1.19 meters and 868 g/t Ag.Eq over 0.39 meters and hole RO-24-022A returned 900 g/t Ag.Eq over 0.97 meters within a broader intercept of 682 g/t Ag.Eq over 1.47 meters. Hole RO-24-003 intersected 450 g/t Ag.Eq over 0.30 meters.
Here, according to Silver Storm, high-grade mineralization extended the zone 135 meters down dip from the last adit in the area. This demonstrated the potential to extend this area further down dip and to the west.
At Eastern Rosarios, the company was also able to extend the mineralized zone down dip from the last drift – in this case by 95 metres. Drill hole RO-24-012 intersected 338 g/t Ag.Eq over 1.97 meters within a broader interval of 187 g/t Ag.Eq over 4.54 meters.
In addition, Silver Storm has identified a new zone of mineralization in Eastern Rosarios. Drill hole RO-24-007 intersected 605 g/t Ag.Eq over 0.31 meters and RO-24-009 returned several mineralized intercepts including 889 g/t Ag.Eq over 0.44 meters and 468 g/t Ag.Eq also over 0.44 meters!
Conclusion: The grades from drilling at Rosarios may not quite match those reported by Silver Storm at Quebradillas, but First Majestic’s historical mining at Rosarios has produced steady and predictable tonnage. And this is important as Rosario is the closest of the five mines in the La Parrilla complex to the processing plant. In any case, the latest drilling again confirms the thesis that the high-grade mineralization zones can be extended along strike and below previously mined horizons. We think this bodes well for the production startup at La Parrilla, which is targeted for 2025.
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