Nevada Silver Corporation (TSX-V:NSC) (NSC) announced that it has filed 124 new claims and has agreed to acquire a number of patented claims, which cover two areas of extensive historic silver mines 15 kilometers southwest of its 100% owned Corcoran silver-gold project in Nevada.
The company said the new claim areas – the Belmont Silver and North Belmont Silver projects – surround or cover the majority of old silver workings of the Belmont silver mining camp near the historic town of Belmont.
“The addition of these projects cements NSC's footprint in an historic silver mining camp which has been overlooked for more than 100 years,” Nevada Silver Corporation (TSX-V:NSC) CEO Gary Lewis said in a statement.
READ: Nevada Silver reports promising final assay results from 2021 drilling at Corcoran Silver-Gold project in Nevada
“We believe that low-cost geophysical surveys in coming weeks will identify drill targets both beneath and along trend from the old workings and our technical team have commenced exploration planning and permitting,” Lewis added.
Nevada Silver noted the depth and lateral extent of mineralization in both projects has not been determined and it intends to undertake mapping, geochemical assessment and surface geophysical surveys in early 2022 followed by drill testing of priority targets.
The company added that silver-base metal deposits at the Belmont Silver project could extend along trend from the old workings and at depth beneath the mined lodes, and other near-surface, silver-quartz veins may not have been identified by early miners because of poor outcrop and widespread talus.
Nevada Silver said silver production from the Belmont district in 1887 was estimated at more than $110 million in today's dollars.
Nevada Silver Corp is a multi-commodity resource company with two exploration projects in the US. The main asset is the Corcoran silver-gold project in Nevada. It also has management and ownership rights over the Emily Manganese project in Minnesota, which has been the subject of considerable technical studies, with US$24 million invested to date. Both Corcoran and Emily boast NI 43-101 compliant mineral resource estimates.
Contact Sean at sean@proactiveinvestors.com