IMA keeps busy at Navidad

Ongoing drilling at the Navidad silver project in Patagonia, Argentina has returned some impressive grades for IMA Exploration (IMR-V).

The latest batch of ten holes included hole no. 25, which tested a linear geophysical anomaly about 800 metres to the southwest of Galena Hill. The hole yielded 8 metres (from 162.7 metres below surface) grading 303.4 grams silver per tonne plus 0.03% copper and 0.31% lead from a zone of calcite and barite veinlets and stockwork with minor sulphide.

IMA says the anomaly exhibits good continuity along 5-6 km of strike. More drilling is planned for the anomaly.

Meanwhile, about 300 metres south of Navidad Hill, hole no. 27 cut 0.73 of a metre (from 7 m) grading 61.5 grams silver, 0.01% copper and 0.56% lead. A 1.2 metre section lower in the hole runs 377.2 grams silver, 0.01% copper and 0.1% lead, beginning at a downhole depth of 66.9 metres.

Holes 29 and 30 tested the southeastern flank of Galena Hill, and returned 10.2 metres of 71.8 grams silver and 1.84% lead, and 7.9 metres of 47.8 grams silver and 1.11% lead, respectively.

The remaining were collared between Navidad Hill and Galena Hill and returned:

• Hole 21 – 83.6 metres (from 42.5 m) averaging 321.7 grams silver, 0.23% copper, and 0.47%, including 20 metres (from 50 m) of 703 grams (20.5 oz. per ton) silver, 0.47% copper, 0.54% lead;
• Hole 22 – 63 metres (from 38.7 m) running 418.4 grams silver, 0.15% copper, and 1.82% lead, including 13.1 metres (from 42.5 m) of 923.3 grams (27 oz. per ton) silver, 0.26% copper, and 1.7% lead;
• Hole 23 – 22.8 metres (from 48.4 m) grading 26.3 grams silver and 0.47% lead;
• Hole 24 – 2.7 metes (from 3 m) averaging 917.9 grams (26.8 oz per ton) silver, 0.28% copper, and, 1.13% lead.

Hole 26 failed to any significant mineralization.

IMA says holes 21 and 22 tested an area interpreted as a feeder structure running along the northeast side of Galena, Navidad, and Barite Hills. The higher silver-to-lead ratios and copper values in the holes are believed to suggest a more proximal position in the overall hydrothermal system. Drilling on extensions of the structure continues.

The company’s drills are currently drilling off promising portions of Galena Hill at 100-metres centres. Once complete, efforts will shift to continued testing of Navidad Hill and other promising targets including:

• Barite Hill, where chip sampling returned up to 109 grams silver and 4.73% lead;
• Calcite Hill — a large silver- and lead-in-soil anomaly; and
• and the linear geophysical anomaly tested by hole no. 25.

IMA is currently selecting composite samples from Galena Hill for metallurgical testing. The company hopes to release a preliminary resource estimate for Galena Hill over the next few months.