Silver Pony Resources (CSE:PONY) has completed 1,013m across three holes in its maiden diamond drilling program at the Silver Pony Project in British Columbia, Canada.
The company has finished initial drilling at the Black Warrior and Old Gold targets, with a fourth hole now underway.
Hole SP26-001 reached 298.4m at Black Warrior, intersecting the repeated marble and argillite units predicted by Silver Pony’s geological model.
SP26-002 was completed at 352.77m and represents the first drill test of the Badshot formation contact on the property.
The third hole, SP26-003, reached 361.7m and was the first drilled at the Old Gold target. Core logging has been completed, while sampling is underway.
Silver Pony says all three holes intersected features associated with carbonate replacement processes, including dolomitisation, manganese enrichment along key contacts, and dissolution-related porosity.
These features were identified through field observations and portable X-ray fluorescence analysis. The company cautions that the results are preliminary, are being used for geological guidance, and do not replace laboratory assays.
Historic ‘high-grade’ surface sampling returned a chip sample grading 3,549 grams per tonne silver (Ag) at Black Warrior and a grab sample grading 12,147g/t Ag and 10.7% copper (Cu) at Old Gold.
However, the company notes the historic results have not been independently verified and came from selective samples, meaning they are not necessarily representative of mineralisation across the project.
VP of Exploration Chris Furey says the completed holes will help guide further drilling along the carbonate replacement system.
“Every hole so far has confirmed that the plumbing of a carbonate replacement system is here, and the next holes are designed to follow that plumbing to where the metals should be,” Furey says.
Silver Pony has submitted its first core samples to Actlabs, with initial assays expected in the coming months.
The Silver Pony Project comprises 37 contiguous mineral tenures covering 37,023 hectares across the Slocan and Revelstoke mining districts.
Write to France Pinzon at Mining.com.au
Images: Silver Pony Resources
