Vancouver — Encouraging results from recent drilling have prompted Minco Silver (MSV-T, MISVF-O) to add two more drill rigs and accelerate drilling to bring the Fuwan silver project in China’s Guangdong province to the feasibility study stage.
Based on a previously released National Instrument 43-101 technical report, the Fuwan property hosts an undiluted inferred silver resource of 20.36 million tonnes grading 181 grams silver and 0.34 gram gold per tonne, 0.2% lead and 0.65% zinc, using a cutoff grade of 75 grams silver.
Minco Silver recently completed a first-phase, 9-hole drill program totalling 2,700 metres at the property. Notable results from several stepout holes include: 5.39 metres of 129.8 grams silver (starting at 147.3 metres below surface), 12.96 metres of 234.2 grams silver (starting at 195 metres), and 9.1 metres of 284.1 grams silver (starting at 242.7 metres).
Highlights from several infill holes include: 5.15 metres of 188.8 grams silver (starting at 236.5 metres), 8.7 metres of 823.8 grams silver (starting at 243.7 metres), 7.3 metres of 261 grams silver (starting at 129.9 metres), 2.4 metres of 1,183.4 grams silver (starting at 115.7 metres), 3.9 metres of 221.4 grams silver (starting 178.1 metres) and 3.7 metres of 292.5 grams silver (starting at 232.5 metres).
The company notes that drilling to date has demonstrated that several stratabound silver zones extend more than 2,500 metres along strike and about 500-700 metres downdip.
Minco Silver completed its initial public offering in late 2005 as an “exclusive vehicle for pursuing silver opportunities in China,” pursuant to a strategic alliance between its two largest shareholders, Minco Mining & Metals (MMM-T, MMK-X) and Silver Standard Resources (SSO-T, SSRI-Q).
Minco Mining & Metals holds roughly 55% of Minco Silver, while Silver Standard holds about 20% of Minco Silver and can increase this to 30% by participating in future financings.
Be the first to comment on "Minco Silver pushes Fuwan to feasibility"