Nevada Silver Corporation (TSX-V:NSC) has provided a final update on promising assay results from the 2021 diamond drill program at its Corcoran Silver-Gold project in the mining-friendly US state of Nevada.
The Toronto-based multi-commodity resource company said the results are from completed assay data from its recent 3,040-meter (m) diamond drilling program at the outcropping epithermal Corcoran Silver-Gold deposit located 80 miles north of Tonapah, in southern Nevada.
In a statement, Nevada Silver CEO Gary Lewis said: "We are very pleased that the last holes of NSC's 2021 Corcoran drilling include further encouraging results. The deposit is clearly not closed by drilling in any direction or at depth.”
“In particular CC21-15 and CC21-10, which are the most northern 2021 drill holes, intersected wide mineralized intervals. CC21-15 showed a combined total length of 167 meters (m) of mineralization and best grades occurred near the bottom of this 254.5m angled hole. Similarly, CC21-10 intersected more than 70 meters of silver-gold (Ag-Au) mineralization in the bottom half of the 138.7m hole," he added.
Lewis noted that the firm is "well advanced in preparations" for drill permitting of the north, west and depth extensions of Corcoran in 2022.
“We are excited by the potential for considerable upside to both size and grade of the deposit," he added.
Nevada Silver which has received data from the last diamond drill holes (numbering CC21-08, 09, 10, 11, 12, 15 and 16) highlighted the following results:
- Hole CC21-08 reported 1.35m from 20.12m at 409 grams per ton (g/t) silver equivalent (AgEq) (395g/t Ag, 0.18g/t Au)
- Hole CC21-10 reported 26.32m from 62m at 56 g/t AgEq (38g/t Ag, 0.25g/t Au). It also intersected 44.04m from 94.64m at 46g/t AgEq (25g/t Ag, 0.28g/t Au)
- Hole CC21-11 reported 14.23m from 125.27m at 73g/t AgEq (50g/t Ag, 0.30g/t Au)
- Hole CC21-12 reported 1.58m from 186.42m at 521g/t AgEq (516g/t Ag, 0.06g/t Au)
- Hole CC21-15 reported 12.15m from 194.55m at 99g/t AgEq (63g/t Ag, 0.48g/t Au)
- CC21-12 was drilled to test the southeast portion of the deposit and the company said the 516 g/t Ag from 186.42m may represent a feeder zone in this area. Deeper drill testing in 2022 is planned to test this target.
Meanwhile, the company also focused on vertical Hole CC21-08 located near the southern end of the resource to 116.9m total depth. Most of the top 90m of this hole intersected mineralization including near-surface intersections ranging up to 395 g/t silver, said the company.
A shallow twin hole (CC21-08B) was completed to 20.1m to provide additional data for the poor sample recovery in the top few meters of CC21-08. Assays for CC21-08B confirmed surface mineralization at 18m from surface of 45 g/t AgEq.
In addition, Nevada Silver reported mineralization intersected in Hole CC21-08 which was offset to the southeast. Drill testing for a continuation of mineralization to the northwest of CC21-08 is planned in 2022, said the company.
In more good news, CC21-11 was completed near the center of the drill area and intersected "wide zones of appreciable silver and gold grades throughout the hole," said the company.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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