The Company expects to start drilling the week of
The Drilling Permit covers 13 drill pad locations encompassing 50 planned drill holes across the Property. The first phase of the drilling program will see 12 drill holes completed on three of the drill sites. These are expected to confirm our geological and mineral resource modelling of the Property. Geological modelling of
The current planned drilling program will also reach deeper into the hillside to sample the vein mineralization beyond where historical Spanish miners were active. It is our expectation that the grades of silver and gold in these zones should be higher as they have never been accessed. A second phase of drilling is also planned which will use the remaining drill sites to expand the mineral resources by drilling an additional 38 holes. The Company expects to prepare a new National Instrument 43-101 (“NI 43-101”) Technical Report and a Preliminary Economic Assessment (“PEA”) following the drill programs.
Should the initial Phase 1drill holes confirm the expected mineralization on the Property, the Company anticipates starting the second drill program in Q2 2021.
The Company had issued an NI 43-101 Mineral Resource Estimate and Technical Report on the Santo Domingo Property on
Highlights from the technical report include:
- Measured and Indicated Mineral Resources increased to 25.74M silver equivalent ounces from 15.05M.
- Inferred Mineral Resources increased to 13.39M silver equivalent ounces from 10.68M.
- La Rayas vein indicates a mineralized zone that is 35 metres wide by 300 metres down dip and over 700 metres along strike.
- Guadalupe vein is typically 15 to 30 metres wide.
- Five additional veins have been identified which are part of the new drilling program, deeper into the hillside.
The Report confirms Measured and Indicated, and Inferred Mineral Resources as set out in the table below:
A table accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ee2b7f30-8181-40b4-a326-c1e2c9572af7
Cut-off grade was 45 grams per tonne silver equivalent over a three metre true width and a gold-silver ratio of 72:1 Continuity of mineralization was established by drilling on 50 metre centres, and using a specific gravity of 2.65
The Santo Domingo Property is located in the
Original workings of the Spanish dot the landscape throughout the
Stroud’s exploration of the two main mineralized zones has drilled through many of the workings. These zones; La Rayas and Guadalupe, are a series of banded to breccia style epithermal quartz carbonate vein systems represented with miargyrite, galena, sphalerite, argentite and native silver and gold. La Rayas is 30 to 35 metres wide and Guadalupe is 15 to 30 metres wide. Both are parallel structures with greater than a 700-metre strike length and about 300 metre depth.
Stroud has drilled 44 holes on these two mineralized zones, with every hole encountering mineralization, which make up the existing 39M silver equivalent ounce mineral resource. The La Rayas and Guadalupe zones are within 150 meters of surface, and every indication suggests open pit capability for mining the ore.
The Property has not been explored very much beyond 100 metres from surface. Investigation of the old Spanish workings on the Property have pointed toward the presence of five additional mineralized zones running parallel to La Rayas and Guadalupe, deeper into the hillside. The Qualifying Technical report summarizes the drilling over the La Rayas and the Guadalupe zones, which are close to surface and were heavily mined by the Spanish miners.
Stroud management is excited by the new drilling program designed to explore beyond what the Spanish miners were able to reach. The program is designed to confirm the presence of the additional veins and verify the higher grades we anticipate are there.
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Technical report
Technical report
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