SilverCrest Announces Historic Las Chispas Mine Rehabilitation and Drilling; Huasabas Project Update
2 years 37 weeks ago
N. Eric Fier , CPG, P.Eng, President & CEO stated, "Las Chispas is a very exciting brownfields exploration story. The project area consists of a district size target with multiple historic surface and underground mines that reportedly produced an estimated 100 million ounces of silver and 200 thousand ounces of gold between 1880 and 1930. Reported average production grades from limited public information were approximately 15 grams per tonne (gpt) gold and 1,700 grams per tonne (gpt) silver over widths of 1 to 5 metres. Our initial underground channel sampling of exposed mineralization has shown grades up to 15.1 gpt Au and 1,340 gpt Ag over 1.3 metres. To our knowledge, all mineralized zones in the district, which include multiple epithermal veins, have not been previously drilled. The underground rehabilitation program will help further assess the potential for near surface deposits and deeper extensions of mineralization. A majority of the underground workings have been inaccessible for over 80 years, and historic records suggest several previously developed areas were not mined due to closure around 1930. The Company is well financed with over $6.5 million and the 2016 exploration expenditures are expected to be in the range of $1 to $1.2 million ."
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November 20: Gold Holds Steady While Stocks Drop 2% More
11 hours 12 min agoGold chopped near unchanged in Asia before it climbed up to $1228.70 in London and then dropped to a new session low of $1220.00 by early afternoon in New York, but it then bounced back higher into the close and ended with a loss of just 0.07%. Silver edged up to $14.489 before it dropped back to $14.23 and then also rebounded, but it still ended with a loss of 0.69%.
