Texas Mineral Resources Corp. (TMRC), is pleased to announce that it has conducted a 3rd Phase of electro-magnetic surveying based on continued analysis of the highly encouraging Phase 2 Time Domain Electro-Magnetic (TDEM) survey of high-grade silver veins in the Black Hawk District, Grant County, New Mexico. This 3rd Phase survey is focused on the area of the highest population of significant anomalies detected by Phase 2.
TMRC’s press release of Nov. 30, 2022 described the objective and partial results of Phase 2 of the Time Domain Electro-Magnetic survey conducted at the historic Alhambra Mine in the Black Hawk mining district, Grant County, New Mexico.
Numerical analysis completed since November has continued to yield positive results. Electrically conductive anomalies identified by this analysis conform to known geologic structures. It is thought that these anomalies represent either metal (native silver) or metallic minerals. The only electrical conductors commonly occurring in nature are metals and metallic minerals, saline water and graphite. Geologic conditions at Black Hawk effectively rule out saline water and graphite.
Phase 3 is a follow-up TDEM survey over the prime area of interest. This survey was designed to extend the depth capability of the method by employing larger current loops and higher power. Current loops have been designed to enhance definitions of anomalies outlined by phase 2. This 3rd phase of field surveying has now been completed and data is being processed.
Diamond drilling will be the 4th phase of the project. Owing to the abundance of near surface targets, less than 120 feet deep, a small, man-portable, diamond drill can be used. This type of drilling minimizes cost, surface preparation and logistics and allows the density of drilling necessary to define these small, high value targets.
Dan Gorski, TMRC CEO, states: “Although geophysics is an indirect exploration tool whose purpose is to identify drill targets, these targets must be regarded as unproven until they are verified by drilling. However, TDEM is, in our opinion, the most direct of geophysical methods and is the least likely to produce ‘false positive’ results. We believe there is a high probability that the electrical conductors thus far seen are in fact metal or metallic minerals.”
“Given the outstanding geophysical results of the Phase 2 geophysics, we have decided to delay seeking expanded funding for the New Mexico silver project until we have completed the analysis of the Phase 3 geophysics, the results of which we believe could lead to potentially greater and lower cost funding options”, said Anthony Marchese, Chairman. “Additionally, we are very pleased with the development of the Round Top heavy-rare earth and critical mineral project in Texas. Our operating partner, USA Rare Earth, appointed a new highly qualified CEO in November 2022 with a background in the specialty chemical and lithium business and we have every reason to believe his leadership and expertise will guide the project to a successful conclusion.”