Metalsource Mining (CSE: MSM) Reports Major 2.4km Drill Target Corridor at Silver Hill
A Phase 2 IP survey identifies 2.4 kilometres of prospective drill targets on strike from the historic Silver Hill mine, sharing the geophysical signature of the company's strongest drill results to date.
Investorideas.com (www.investorideas.com newswire), a leader in mining investing news and home of the Exploring Mining Podcast, issues a news and trading alert for Metalsource Mining Inc. (CSE: MSM) (OTCQB: MSMMF) (FSE: E9Z).
Investorideas.com - gold and silver are down in this morning's trading session as the company reports news. Silver Sep 26 (SI=F) is trading at $55.95 US -1.48 (-2.58%).
Metalsource Mining Inc. (CSE: MSM) (OTCQB: MSMMF) (FSE: E9Z) announced the results of a recently completed induced polarization ("IP") survey designed to identify drill targets on strike from the historic Silver Hill mine. The survey identified approximately 2.4 kilometres of prospective strike length across two primary target areas, including a continuous 1.8 kilometre anomaly in the southern portion of the project area, in the immediate vicinity of Silver Hill, and an additional 600 metre IP anomaly in the northeast corner of the property.
These IP data and recent drilling results continue to validate Metalsource's exploration thesis that mineralization remains open in all directions, and there are significant opportunities to add scale to the mineralization discovered thus far through on strike and down dip exploration drilling.
Key Highlights
- Phase 2 IP survey identifies approximately 2.4 kilometres of prospective target areas across the Silver Hill district.
- High priority drill targets display geophysical characteristics analogous to the mineralized corridor defined by recent drilling.
- Targets remain open north and south of the historic mine, significantly expanding the Company's exploration pipeline.
- Results strengthen management's evolving geological model that Silver Hill may comprise multiple mineralized occurrences rather than a single historic deposit.
- Company advancing plans to increase drilling capacity to simultaneously expand known mineralization and systematically test newly identified targets.
High-Grade Drilling Validates IP Targeting Model
Exploration drilling completed to date at Silver Hill has demonstrated significant metal endowment within the Company's target horizon. Drilling has so far identified mineralization in up to 18 metres of drill core, and composite assay results of up to 209 g/t gold, 241 g/t silver, 18.8% lead, 39.4% zinc, and 5.4% copper (Table 1). The consistency of this polymetallic mineralization has established Silver Hill as an excellent candidate for electrical geophysics and provided the foundation for the Company's evolving exploration model.
At Silver Hill, the combination of IP chargeability and resistivity data provides two complementary and independently interpretable signals. Elevated chargeability values (greater than 20 milliseconds) are interpreted to potentially reflect the presence of metallic sulphide minerals, while resistivity distinguishes the silicified host of the mineralization (1,500 to 4,000 ohm-m) from both the conductive weathered saprolite at surface and the highly resistive volcanic package, which exceeds 5,000 ohm-m. This two parameter discrimination allows geophysically anomalous zones to be ranked not only by their sulphide content, but also by their host rock environment, enabling the identification of interpreted mineralization occurring at the favourable contact between volcanic flows and the underlying silicified host rocks.
Joe Cullen, CEO of Metalsource Mining, commented:
"This survey represents a major step forward in our understanding of the Silver Hill district. What excites us most is not simply the number of targets identified, but the quality of those targets. These targets exhibit geophysical characteristics analogous to the corridor where we've already delivered some of our strongest drill results. While these are exploration targets, not drill results, they provide us with a compelling pipeline of opportunities that we intend to begin testing as we continue to accelerate exploration. As drilling, geophysics and geological interpretation continue to come together, our confidence in the broader district continues to grow. Our working geological model suggests Silver Hill may comprise multiple mineral occurrences rather than a single mineralized body, creating opportunities to expand the system both along strike and down dip. With plans to increase drilling capacity, our strategy is straightforward. One drill program will continue systematically expanding the known Silver Hill deposit, while additional drilling evaluates these newly identified high priority targets. Selecting where to drill first has become one of the more difficult decisions because of the quality of the opportunities now in front of us, and we're excited to begin unlocking their potential aggressively in the near term."
Metalsource Mining Inc. (CSE: MSM) (OTCQB: MSMMF) (FSE: E9Z) is a featured mining stock.
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This article was originally published on Investorideas.com at
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