Eric Sprott, and an update on the Cosalá Operations.
At the Galena Complex, the first hole targeting the “triple point”, the intersection of the 175, 185 and Silver Veins crossed all three veins approximately 250 feet below current infrastructure and 250 feet above the expected convergence point. Drilling of the second deeper hole has just commenced to pierce the projected convergence area.
Hole 55-153: 582 g/t silver and 30.7% lead (or 1,695 g/t AgEq1) over 2.2 meters2 (185 Vein)
219 g/t silver and 9.5% lead (or 564 g/t AgEq) over 1.9 meters (175 Vein)
271 g/t silver and 2.3% lead (or 365 g/t AgEq) over 1.9 meters (Silver Vein)
Earlier drilling of the 360 Complex from the 4300 Level was an important contributor to the increase in the Mineral Resource as of June 30, 2020. More recent drilling continues to impress with high grades and multiple new vein discoveries.
Holes 43-246 and 43-247 intersected 8 closely spaced, parallel veins including 4 newly discovered veins. These veins are close to existing infrastructure with good grades and minable widths with full assay results detailed in the 360 Complex section. Key intercepts from 43-246 and 43-247 include and hole 43-239 include:
Hole 43-246: 548 g/t silver and 18.9% lead (or 1,239 g/t AgEq) over 3.4 meters
Hole 43-247: 235 g/t silver and 19.7% lead (or 944 g/t AgEq) over 6.6 meters
Hole 43-239: 809 g/t silver and 37.2% lead (or 2,148 g/t AgEq) over 0.6 meters
Continued drilling of the 72 Vein area yielded more strong results and will be followed up from new drill stations in early 2021.
Hole 55-152: 1,783 g/t silver and 2.3% Cu (or 2,018 g/t AgEq) over 0.3 meters
Targeted Mineral Resource addition for the remainder of Phase 1 drilling through June 2021 is expected to be at least another 50 million ounces of silver.
The current exploration program has budgeted approximately 39,000 meters of drilling with approximately 16,000 meters (or 41%) complete as of September 30th, 2020. Based on the success to date, the Company added an additional in-house drill and now has a total of three drills exploring. One drill will remain dedicated to the “triple point”, which represents the convergence of the 175, 185 and Silver Veins. A second drill will continue to focus on the up-dip extension of the 360 Complex. The third drill will begin exploration on the prospective East Coeur area.