SilverCrest Announces Historic Las Chispas Mine Rehabilitation and Drilling; Huasabas Project Update
26 weeks 1 hour 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 ."
Silver Market Morning: Aug-31-2016 -- Gold and silver slipping but sitting on strong support above $1,300!2 hours 6 min ago
Shanghai was stronger than New York yesterday, then London walked the middle road opening at $1,313. The dollar is again strong today, but the Yuan was slightly stronger still. We are aware of the care with which the People’s Bank of China is handling the exchange rate so as to not appear to be purposely devaluing against the dollar, with only a month to go before the Yuan is home and dry as part of the S.D.R.