Silver47 Exploration (TSX-V:AGA) has completed a review of drill targeting across the Red Mountain Project area in Alaska, US, which unveils the project as a “premier” silver and critical minerals asset.
Four main trends have been defined including Dry Creek Syncline, Keevy Trend, Last Chance Corridor, and Wood River Trend.
Many of the targets across the Dry Creek area were known historically, however, numerous targets across the Keevy and Last Chance areas were more recently uncovered through activities completed by a past project operator.
Silver47 says of the 30 known targets as well as other unexplored EM targets, only 11 targets have been drill tested, five of which having less than three holes drilled.
CEO Galen McNamara says by leveraging historical data, the company has identified several high-potential targets along broadly mineralised trends.
“The prospectivity of these targets was first identified by past operators, and I agree; the data suggest the likely presence of additional undiscovered and potentially giant volcanic-massive sulphide (VMS) deposits on the project,” McNamara says.
“I am unaware of any other domestic mineral projects with similar polymetallic discovery potential.
“In addition, ongoing drilling at Dry Creek and West Tundra Flats continue to intersect promising sulphide zones, with assays pending, positioning Red Mountain to deliver significant value and strengthen domestic critical mineral supply chains in the future.”
Drilling is ongoing at Red Mountain, with nine holes completed to date. The company says two holes have been completed at Dry Creek and seven holes at Wood River.
Silver47 notes zones of massive, semi-massive and disseminated sulphide mineralisation have been intersected in infill and step-out holes.
The company plans to conduct future verification work, including drilling and sampling to confirm and update the historical findings, as part of ongoing exploration programs.
Silver47 Exploration is a mineral explorer focused on discovering and developing silver-rich deposits in North America.
Write to Aaliyah Rogan at Mining.com.au
Images: Silver47 Exploration
