SilverCorp Metals Inc (TSX:SVM) (NYSEAMERICAN:SVM) (FRA:S9Y) said its subsidiary, New Infini Silver Inc, has acquired the La Yesca silver project in Nayarit State, Mexico.
The company said the project, located around 100 kilometers (km) northwest of the city of Guadalajara, covers an area of around 47.7 square km with previous exploration activities between 2014 and 2018, having included geological mapping, stream sediment, and soil geochemical surveys, and widely-spaced drilling.
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SilverCorp said a silver-lead-zinc soil geochemical anomaly of more than 500 meters (m) in width and 7.5km long has been defined at the site. A total of 4,878 square meters in 106 trenches and surface strips and 7,649m of diamond drilling in 25 widely-spaced drill holes has been completed to test the southern half of the anomaly.
Meanwhile, the firm said 56 surface trenches and all of the 25 near vertically-drilled holes intersected mineralization, with 22 of the drill holes intersecting multiple mineralized intervals that have defined a northwest-trending 1,100m long and 200m wide mineralized zone in Area I of the anomaly as well as a 3,500m long and 400m wide zone in Areas II and III.
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