Metallum Resources has declared that the company has begun an exploration campaign worth $CND 2.9 million that covers about 6,300 ha M-18 silver/gold property’s mineral rights at Chubut province in Argentina.
Geophysics will be the campaign’s first phase. Next will be the comprehensive geological sampling and mapping, and finally, a diamond drilling program expected for the fall of this year.
A contract team from Quantec Geoscience located in Mendoza, Argentina, has started a geophysical program of the underground magnetics that consists of survey of gradient measuring 42 line km, induced polarization (IP), and pole-dipole IP. The goal of this program is to guide in defining extra strike depth, width, and length to the exposed silver/gold mineralization found on the surface. It is expected that the program will prolong for nearly 21 days. The geophysical program will be ensued by a widespread program of comprehensive channel sampling, geological mapping, and trenching with channel sampling of nearly 8 km. The program’s aim is to expose extra width and strike to the recognized silver/gold mineralization’s 10.5 km width and 2 km strike, which is covered at its perimeter by gravels and a thin layer.
The company is gaining a 70% interest in the M-18 silver/gold property with a joint venture and option contract with Silver Standard Resources. Silver Standard’s past rock outcrop sampling and geological mapping found a silver/gold-bearing epithermal vein system addressing severe modification of over at least 1.2 km of strike length and 0.5 km width. Gold assay was obtained from 98 rock samples due to systematic mapping spread over the program’s strike length which returned values weighing up to 47.20 g/t silver and 4.63 g/t gold.
Source: http://www.metallumresourcesinc.com/