Radius Gold Inc. is pleased to report further high-grade results from step out drilling from the La Peña vein, at Holly project in Guatemala. The drill program is being conducted by joint venture partner Volcanic Gold Mines Inc, who can earn into 60% of the project by funding $7 million in exploration.
The proceeds from the private placement will be used for exploration of the Company’s mineral projects and general working capital.
“We are very pleased with the IP survey execution and results and are especially encouraged by the coincidence of gold-in-outcrop, chargeability, and resistivity at our 2 primary target areas: Cerro Rojo and El Sahuaro. We have completed a preliminary drill plan based on data compilation and interpretation to date that includes the IP survey and are continuing to develop our exploration model and drill plan with on-going interpretation and field work.” commented Ian McGavney, COO for Colibri.
N. Eric Fier, CPG, P.Eng, and CEO, remarked, “SilverCrest’s strategy for its infill drilling program is to efficiently use our capital to optimize the LOM through increasing confidence in high-grade Inferred Resource veins proximal to planned underground infrastructure. The infill program has confirmed the presence and continuity of multi-kilogram per tonne silver equivalent grades within the footprints that helped define the veins in the 2021 Feasibility Study.”
“Our 2021 exploration program accelerated during the summer months with 27 rigs active across six sites,” said Hans J. Rasmussen, Coeur’s Senior Vice President of Exploration. “We remain on-track to deliver the largest exploration campaign in Company history and are regularly setting new monthly drilling records.”
“We continue to build on the Sonoran project geotechnical database using advanced processing techniques for re-interpretation of available ASTER and LANDSAT 8 OLI imagery. The TLALI algorithm processing clearly illustrated its capabilities in mineral and anomaly identification with clarity of spatial response,” said Greg Davison, Silver Spruce VP Exploration and Director.
The Feasibility Study supports a high grade, silver-gold underground mining operation at Terronera producing an average of 3.3 million payable ounces silver and 32,874 payable oz gold per year over a 12-year mine life.
“We are pleased that the mine ramp-up has continued along a reasonable path despite the continuing impact of unusually heavy rainfall throughout the period, which we hope is finally coming to an end.”
Rob Birmingham, CEO, comments, “The exploration team led by veteran geologist Michelle Robinson continue to expand on previous successes at the Picachos Project. We’re pleased to see the precious metals rich, copper discovery announced on August 4th is growing in scale and providing the company with exceptional targets for further inspection. Furthermore, we are excited with the discovery of high grade gold, silver and copper in rock chip channel samples at the historic La Gloria mine.”
GR Silver Mining President and CEO, Marcio Fonseca commented “The progress of GR Silver Mining’s exploration program in new areas continues to deliver positive results. We are encouraged by the initial results from the GAP Area, as well as the magnitude of the epithermal system based on our first ever sampling program. Drilling is planned to further test the high-grade mineralization in the GAP Area.”
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