MetalSource Mining Inc. announced the expansion of its Silver Hill exploration land package through the addition of two strategically located properties totaling approximately 97.6 acres. These two properties have been optioned from the underlying holders of the Mineral Exploration Licenses. The newly added lands include: The Hinkle Lands (85.5 acres), located along strike of the Silver Hill mineralized trend and aligned with a previously identified Cyprus IP anomaly; and The Adkins Tract (12.07 acres), located immediately east of and adjacent to the central mineralized zones at Silver Hill.
This expands the Silver Hill Project to encompass 512.21 acres. Both properties are held under five-year Exploration Licenses with Option to Purchase, renewable annually, and provide MetalSource with immediate access and full exploration rights. The Company retains the flexibility to drop either property at any time.
These licenses come into the land package as part of the underlying option agreement with Goldstrike Minerals, LLC. The land expansion strengthens MetalSource's position at Silver Hill by extending coverage along interpreted mineralized trends and across areas considered prospective based on geological and geophysical data. The Silver Hill project is located on private land in Davidson County, North Carolina, a mining-friendly jurisdiction and is recognized as America's first silver mine.
The Company is advancing the project using modern exploration techniques, including diamond drilling and geophysical surveys. Silver Hill Project. Located in the Carolina Terrane, the property is underlain by volcaniclastic and volcano sedimentary rocks predominantly of Neoproterozoic and Cambrian age.
This terrane has been suggested to be an extension of the Avalon Terrane. The property is 1,128 acres located in Davidson County, North Carolina. As the first significant discovery and first silver-producing mine in America, there is an extensive drillhole database, underground mapping, historic dumps and underground chip samples which comprise the historic dataset.
This mineralization is currently known to extend to 550m from surface, in a steeply trending series of lenses, which remain open in multiple directions. Bolstering these historic records, recent surface sampling contained results including SH25-003 containing 444g/t Ag, 17.7 g/t Au, 8.61% Pb and 0.507% Zn.
