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North of 60 Mining News - November 18, 2024
South47 drilled six holes during its 2024 exploration program at Red Mountain.
Silver47 drilled five holes this year at the Dry Creek and West Tundra Flats deposits.
Hole DC24-106 cut high-grade mineralization down-dip from two historical holes at Dry Creek.
Silver47 Exploration Corp. Nov. 18 reported that the first assays back from its inaugural drill program at Red Mountain include a 2.48-meter intercept averaging 61.4% zinc-equivalent, which combines the value of the silver, gold, zinc, lead, and copper cut in this hole testing the Dry Creek deposit on the volcanogenic massive sulfide project about 60 miles (100 kilometers) south of Fairbanks, Alaska.
Just last week, Silver47 emerged onto the Alaska mining scene with its listing on the TSX Venture Exchange.
Before going public, however, the company had already completed a six-hole drill program at the Dry Creek and West Tundra Flats projects, which lie about 1.7 miles (2.7 kilometers) apart, as well as the Kiwi prospect about eight miles (13 kilometers) to the southwest.
Silver47 drilled five holes this year at the Dry Creek and West Tundra Flats deposits.
According to a mineral resource calculation for Silver47 earlier this year, Dry Creek and West Tundra Flats host a combined 15.6 million metric tons of inferred resource averaging 71.4 grams per metric ton (35.9 million oz) silver, 0.43 g/t (214,000 oz) gold, 3.4% (1.17 billion pounds) zinc, 1.4% (476 million lb) lead, and 0.17% (57 million lb) copper.
When you combine the value of all the metals, this equates to 168.7 million oz of silver-equivalent in mineralization averaging 335.7 g/t silver-equivalent.
The first assays from the 2024 drill program indicate the potential to upgrade and expand this resource.
Hole DC24-106, an infill hole at Dry Creek, cut 24.51 meters averaging 1.99 g/t gold, 55.5 g/t silver, 4.08% zinc, 1.32% lead, and 0.1% copper, or 486.3 g/t silver-equivalent. This intercept included a 2.48-meter subinterval averaging 14.95 g/t gold, 249.5 g/t silver, 21.97% zinc, 7.03% lead, and 0.42% copper, or 1,938.5 g/t silver-equivalent.
Hole DC24-106 cut high-grade mineralization down-dip from two historical holes at Dry Creek.
"We are extremely excited to report these kinds of high-grade polymetallic intercepts in our first drill program on the project," said Silver47 Vice President of Exploration Alex Walls. "This drill intercept supports our thesis that Red Mountain Project hosts significant precious metal enrichment in addition to the base metal endowment."
Hole DC24-106 was drilled to test the continuity of high-grade mineralization between near-surface intercepts from drilling completed in 1997 and a deeper intercept in 2018.
Silver47 says this hole drilled in the center of Dry Creek indicates the excellent potential to quickly upgrade and expand the deposit.
Assays are pending from two additional holes drilled at Dry Creek, two drilled at West Tundra Flats, and one drilled at Kiwi.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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