Nevada Silver Corporation (TSX-V:NSC) revealed new assay results from its Corcoran silver-gold project in Nevada that show wide intersections of mineralization.
Results include 142.15 metres (m) at 42 grams per ton (g/t) silver equivalent in drill hole CC21-04, and 34.5m at 101 g/t silver equivalent – including 1.50m at 1,137 g/t silver equivalent – in CC21-05.
The results pair with an earlier hole drilled on the property that returned intervals of 2.67m at 1,136 g/t silver equivalent.
The company told investors that the most recent results confirm the “considerable extent and thickness” of the Corcoran deposit, while consistently high gold grades indicate that gold to silver ratios are variable within the deposit.
Nevada Silver recently completed a 3,040 metre drill program on the property.
"CC21-04 and 5 have both intersected thick zones of near-surface silver and gold representing the potential for a very large deposit,” CEO Gary Lewis said in a statement.
“The high-grade silver intersections in both CC21-01 and CC21-05 are particularly encouraging because these holes are 300 meters apart and there appears to be continuity of high grades along this trend. Importantly, the CC21-05 results show that Corcoran is likely to extend further to the north east, beyond the current drill program."
Additional results from the remaining 14 holes drilled are expected in the coming weeks.
Separately, Nevada Silver said it had signed an agreement with Red Cloud Securities Inc to provide market stabilization and liquidity services. The company will pay a monthly cash fee of $5,000 for a minimum term of three months, which will automatically extend for successive one-month terms unless terminated by either party.
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