Masivo Silver (TSX-V:MASS) has reported gold–silver–copper results from drilling beneath the historical underground workings at its Boston Mine Project in northeastern Nevada, US.
The drilling comprised seven holes testing targets identified through surface showings, underground sampling, and induced polarisation anomalies around the former mine.
Hole BM21-01 returned a drilled thickness of about 13.7m @ 1.73 grams per tonne gold (Au), 34.7g/t silver (Ag), and 1.14% copper (Cu), equating to 3.25% copper equivalent (CuEq). The interval included about 1.5m @ 2.86g/t Au, 84.7g/t Ag, and 2.67% Cu, or 6.39% CuEq.
Masivo calculated CuEq using assumed recoveries of 90% for all three metals and prices of US$4.50 ($6.42) per pound copper, US$3,600 per ounce gold, and US$40 per ounce silver — though the company cautions that CuEq is not evidence of economic value.
CEO David Coburn says drilling supports the continuation of mineralisation beneath the historical workings.
“The drilling has confirmed the continuation of high-grade gold, silver, and copper mineralization beneath the historic workings while also supporting our belief that the mineralized system extends well beyond the original mine,” Coburn says.
The company drilled BM21-01 about 20m below mineralisation exposed in the upper-level adit. Subsequent holes tested areas beneath and along strike from BM21-01, as well as targets south and west of the mine.
Two holes drilled into induced polarisation anomalies southeast of the mine intersected calc-silicate alteration but no visible mineralisation and were not sampled, according to Masivo.
Based on its review of surface sampling and drilling, the company interprets mineralisation as extending over 70m of strike, with drill intersections reaching 50m below surface showings and 30m below channel samples from the upper mine level. The company says the system remains open along strike and at depth.
The Boston Mine was developed through a roughly 58m shaft with workings on two levels. Historical reports describe shipments grading up to 6.8% Cu, 226g/t Ag, and 9g/t Au, although Masivo has not independently verified the historical results.
Masivo is compiling historical mining, drilling, geophysical, and geological data to prioritise further drilling. It is also considering accessing and sampling the lower mine level.
Write to France Pinzon at Mining.com.au
Images: Masivo Silver
