Brad Marwood CEO was at site for the first delivery to Santa Eulalia concentrator and said: We are very pleased that our Mexican team established mining operations on-time, under budget and in a safe manner.”
N. Eric Fier, CPG, P.Eng and CEO, remarked, The delivery of this updated resource estimate is another major milestone for SilverCrest as we continue to systematically expand high-grade mineralization in the Las Chispas district. In the spring of 2018, we started our Phase III drill program with a Q3 target of 75 to 85 million ounces silver equivalent at a grade of around 600 gpt AgEq. With the recent expansion and discovery of multiple high-grade veins and zones, this target has been exceeded with an updated Inferred Resource of 4.3 million tonnes grading 623 gpt AgEq for an estimated 86.7 million AgEq ounces. The most exciting aspects of this resource update are the high-grade resources identified in the Area 51 zone of the Babicanora Vein and the Babicanora Norte Vein.
Southern Silver Exploration Corp. reported today that additional metallurgical test work on the Skarn Front deposit from the Cerro Las Minitas Project has resulted in both the successful separation of a potential saleable grade copper concentrate as well as the generation of a cleaner zinc concentrate grading above 50% zinc without sacrificing zinc, lead or silver recoveries.?
Luis Castro, Vice President, Exploration for Endeavour Silver, commented, These infill drill results helped us meet our goal this year to increase our measured and indicated resources. The high silver and gold grades, excellent continuity of mineralization and significant exploration upside to expand the resources reinforce our view that Terronera has the potential to become the next key asset for the Company.
The proceeds from the private placement will be used for Oceanus El Tigre Property in Sonora, Mexico and for general working capital purposes. The private placement remains subject to final acceptance by the TSX Venture Exchange.
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