Minaurum Silver (TSX-V:MGG) is expecting to update the Alamos Silver Project resource estimate after discovering a blind vein grading 669 grams per tonne silver equivalent.
The Africa vein lies about 50m in the footwall of the Europa Sur vein at Alamos in Sonora, Mexico.
Hole AL26-268 returned 2.05m @ 669g/t silver equivalent (AgEq), including 270g/t silver, 0.87g/t gold, 1.55% copper, 2.80% lead, and 5.62% zinc. Hole AL26-257 cut 1.30m @ 592g/t AgEq.
The vein remains open along strike, with hole AL19-018 intersecting 5.35m @ 156g/t AgEq about 400m to the north.
Resource-expansion drilling also returned 2.65m @ 367g/t AgEq at Europa Sur in hole AL26-266, and 0.60m @ 1,140g/t AgEq in hole AL26-261.
Europa Sur is not part of the initial inferred mineral resource.
At Quintera, hole AL26-259 cut 3.20m @ 253g/t AgEq, including 1.5m @ 462g/t AgEq.
The company expects the updated inferred estimate to include part of the Quintera vein zone and the San Jose vein zone.
CEO Darrell Rader says the Africa discovery opens a new avenue for growth.
“The discovery of the high-grade, blind Africa vein represents an exciting new opportunity for resource expansion ahead of our upcoming resource estimate update,” Rader notes.
The results form part of the company’s phase-two 50,000m resource-expansion drilling program. Drilling continues at Quintera-Travesia and Promontorio Sur, where assays are pending.
Minaurum has 517.3 million shares on issue and a market capitalisation of about C$134.5 million ($137 million), based on a C$0.26 close on October 21.
Minaurum Silver is a Canadian explorer advancing a portfolio of precious and base metals projects across Mexico and the US.
Write to JC Villarba at Mining.com.au
Images: Minaurum Silver
