Silver Mountain Resources Inc. (TSXV: AGMR) has released its first National Instrument 43-101 compliant mineral resource estimate (MRE) for its wholly-owned Reliquias mine in Huancavelica, central Peru.
Highlights
- Measured & Indicated Resources: 861,300t containing 2.78Moz of silver, 7,100oz of gold, 28,800t of zinc, 21,400t of lead, and 3,400t of copper;
- Inferred Resources: 969,000t containing 3.10Moz of silver, 6,600oz of gold, 26,100t of zinc, 18,800t of lead, and 3,300t of copper; and
- Mineralization in all three main vein structures is open along strike and at depth, showing excellent potential to grow with future drilling and underground sampling.
“We are very pleased to deliver on one of the milestones outlined for early 2023. Within a short timeframe and in a cost-effective manner, our team has added substantial value to the Reliquias mine,” CEO, Alvaro Espinoza, said.
“We are delighted to announce that NI 43-101 compliant mineral resources now include 2.78Moz Ag in the measured & indicated category and 3.10Moz Ag in the inferred category, plus significant amounts of base metals.
“Our ongoing 2023 drill programme already indicates strong growth potential beyond this maiden mineral resource estimate, to be incorporated in an updated estimate as part of the PEA planned for Q3 2023, advancing the company closer to production.”
This MRE is based on 60 diamond drill holes, with a total of 13,640.80m, completed by the Company between April and October 2022. The MRE was prepared using assays sourced from a total of 4,672 core samples (including QA/QC samples) with interval lengths varying between 0.5m and 1.5 m.
Additionally, the analyses of 1,416 rock samples (including QA/QC samples) taken during systematic sampling of underground workings were included in the database to calculate the mineral resources.
For further information please visit: https://agmr.ca/
