Vancouver – An independent resource estimate has increased the resources in two zones on IMA Exploration’s (IMR-V) Navidad project in the Patagonia region of Argentina. The independent resource estimate is based on IMA’s Phase II drill program that further tested the Navidad Hill and Connector zones while Galena Hill’s resource remains unchanged from May.
The updated indicated resource covers the three main zones on the Navidad project: Galena Hill, Navidad Hill and Connector. The new resource contains 268 million oz. silver and 1.75 million tonnes lead within 80.8 million tonnes that grade 103 grams silver and 1.45% lead, at a 50 grams silver-equivalent cut-off grade.
The inferred resource contains 39.3 million oz. silver and 70,500 tonnes lead within 15.7 million tonnes at 78 grams silver and 0.45% lead, for the same zones using the same cutoff grade
The company is currently sinking more holes to test the extent of the Navidad Hill deposit in an effort to increase the resource at Navidad Hill.
The Navidad Hill estimate is based on results from 41 diamond drill holes within a 400 sq. metre area within 100 metres of surface.The new resource estimate at the Connector zone replaces portions of the previously reported Galena Hill inferred resource. The Connector zone remains open in several directions, and the resources are mostly inferred.
IMA says that Phase III drilling at Connector should bump a good portion of the inferred resources up to the indicated category.
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