Apex wraps up diamond drilling program in Mexico

Denver, Colo.-based Apex Silver Mines (SIL-X) is one step closer to owning nearly two-thirds of the Platosa property in central Mexico following its completion of a 21-hole diamond drill program there.

Mineras de Cordilleras, a Mexican subsidiary of Apex and operator at the property, stands to earn a 65% interest in Platosa from Excellon Resources (EXN-V) by paying US$1.3 million and spending at least US$1.5 million on exploration over five years.

The 20,000-acre property is in Durango state, about 5 km northwest of the town of Bermijillo.

Previous drilling returned a 7.45-metre interval of massive sulphides grading 1,132 grams silver per tonne, 35.24% zinc and 14.42% lead.

The latest round of drilling was designed to evaluate the continuity of those massive sulphides. Assay results will be available in a couple of weeks.