The survey is scheduled to cover an area of approximately 8.1 km2, approximately 64% of the concession area. As the key structures and mineralization on the concession are oriented NW-SE, the geophysical survey lines are designed perpendicular to these structures, in a SW-NE orientation (Figure 1). This way the best geological information is obtained from the geophysical results.
In addition to the Resource Area, the program will also encompass high priority target areas identified by recent lithogeochemical sampling and follow-up mapping and sampling.
The survey will initially focus on the Resource Area to characterize the known Ag-Pb-Zn mineralization therein, which hosts the NI 43-101 resource. A higher line density for the survey is planned over the Resource Area, which allows higher resolution of geophysical data and geological information. This will deliver a guide as to potential extensions to the mineralization along strike, and the 3D IP will provide additional insight into depth extensions to the deposit. The geophysical response of the Resource Area will then be used to identify similar buried anomalies that could host hidden Ag-Pb-Zn resources, particularly along the key contact between the lower dacitic units in the SW and the upper volcanic units in the N and E.
The Company estimates that the survey will highlight a number of structural and lithological features in addition to the key contact hosting the San Marcial resource. Recent reconnaissance geological mapping has identified intrusive rocks (granodioritic), particularly S of the Resource Area. It is expected that the extent of these intrusive rocks will be prominent from the geophysical survey, thus aiding in lithological mapping of these units.
The survey will also support mapping of mineralized zones that contain chargeable metal sulphide mineralization, that will then allow for interpretation based on the nature of the known mineralized structures on the property. As the survey moves away from the Resource Area, it will cover many of the targets already highlighted by previous
Figure 1: San Marcial – Concession, Geology, Targets and Geophysical Survey Lines
The IP survey is being conducted by DIAS Geophysical of
Line cutting for the survey was initiated in December, and completed in early February. The field crew is working out of the San Marcial camp, located approximately in the center of the property and grid, under a COVID-19 protocol developed by the Company in compliance with the requirements of the Mexican authorities.
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The Company has contracted the services of
Future Drilling Program
The footwall of the NI 43-101 resource is where the Company is currently integrating all data, aiming to study
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The scientific and technical data contained in this news release related to the San Marcial project were reviewed and/or prepared under the supervision of
About
PLOMOSAS SILVER PROJECT
The Project has an 8,515-hectare property position and is strategically located within 5 km of the
The
The Company has commenced an 11,900 m drilling program with surface holes focused on expanding known mineralization along strike in two initial areas, the Plomosas Mine Area and the
The 100%-owned assets include all facilities and infrastructure including: access roads, surface rights agreement, water use permit, 8,000 m of underground workings, water access, 60 km - 33 KV power line, offices, shops, 120-person camp, infirmary, warehouses and assay lab representing approximately
The silver and gold mineralization on this Project display the alteration, textures, mineralogy and deposit geometry characteristics of a low sulphidation epithermal silver-gold-base metal vein/breccia mineralized system. Previous exploration was focused on Pb-Zn-Ag-Au polymetallic shallow mineralization, hosted in NW-SE structures in the vicinity of the Plomosas mine. The E-W portion of the mineralization and extensions for the main N-S Plomosas fault remain under-explored.
In addition to the resource potential at Plomosas, a review of the existing drill hole database, geophysical surveys and geochemical data covering most of the concession, has defined 16 new exploration targets from which 11 have high priority for future exploration programs.
SAN MARCIAL PROJECT
San Marcial is a near-surface, high-grade Ag-Pb-Zn open-pit-amenable project, which contains a 36-million-ounce AgEq (indicated) and 11 million oz AgEq (inferred) NI 43-101 resource estimate. The Company has filed a National Instrument 43-101 ("NI 43-101") report entitled "San Marcial Project Resource Estimation and Technical Report,
Recent exploration has identified Ag and Au mineralization in areas previously defined as non-mineralized, discovering evidence of pervasively altered rocks with intense silicification, veining and associated wide, Ag and Au mineralized zones on the footwall of the NI 43-101 resource.
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Disclaimer for Forward-Looking Information
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
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