Gold Terra Resource significantly extends gold zone!
One of Canada’s top gold exploration companies Terra Resource (ISIN: CA38076F1053 TSX-V: YGT), formerly TerraX Minerals, announced the last six drilling results from its 10,000m winter drill program over 34 holes within the ‘Sam Otto’ zone. And these holes can be seen again.
The ‘high-grade’ holes undoubtedly include the holes with:
- 1.30 g / t Au over 50.6 m, including 3.02 g / t Au over 9.0 m
- 1.18 g / t Au over 51.65 m, including 2.07 g / t over 11.05 m and 2.03 g / t over 13.5 m
- 0.57 g / t Au over 30.5 m
The high-grade gold mineralization of the ‘Sam Otto’ trend has so far been defined over around 2.5 km along the 5 km long structural corridor. And that this does not mean the end, is confirmed by these new drilling results, which means a massive expansion of this gold zone both width and depth for the company !!!
Source: Gold Terra Resource
Previous mineral resource estimates should be able to be significantly increased!
As early as November 2019, Gold Terra Resource announced a first ‘derived’ mineral resource estimate of 735,000 ounces of gold. But only then did the large winter and summer drilling programs begin, which brought excellent results to light. This suggests that at least a large part of the “derived” resources can be transferred to the high-value category of the “measured and displayed” category and that the “derived” are massively enlarged.
And it could already be exciting in the fourth quarter of this year, because then the new mineral resource estimate should already be available! Based on the available data, we assume that the company will have to be re-evaluated at the latest with the new resource estimate.
We are also keeping a close eye on the upcoming 10,000 m summer drilling program in the ‘Crestaurum’ zone, which is planned and will now be carried out. Because this zone also already has a high-grade mineralized zone 1.3 km long, which represents the northern extension of the large, well-known ‘Giant’ / ‘Con’ system.
Source: Gold Terra Resource
The project has the same mineralization as the archaic belt in which the former high grade gold mines ‘Con’ and ‘Giant’ previously produced more than 14 million ounces of gold!
And that is exactly why we are assuming further direct hits that have the potential to overshadow the already delivered peak grades. By then at the latest, the share should become the focus of other investors, but also of companies in the neighborhood. What should happen to the share price should be clear.
Endeavor Silver is encountering a new, highly mineralized zone
Good news and drilling results also came to us from Mexico, from the silver producer Endeavor Silver (ISIN: CA29258Y1034 / TSX: EDR). As the company announced, a new high-grade gold-silver mineralization was discovered in the ‘Melladito’ vein at its ‘Bolanitos’ mine in Guanajuato.
The great thing about it is that of the 14 holes drilled, 8 holes directly intersected high-grade ore deposits in degradable thicknesses.
Source: Endeavor Silver
The best drilling sections include:
- 24.3 grams per ton (g / t) gold and 787 g / t silver over an actual width of 1.5 meters (m) in hole BN27 (3,217 g / t or 93.8 ounces per ton silver equivalent (AgEq) with a silver: gold ratio of 100: 1
- 12.5 g / t gold and 50 g / t silver over an actual width of 1.1 m (1,300 g / t or 37.9 ounces per ton AgEq)
- 7.37 g / t gold and 170 g / t silver over an actual width of 2.7 m (907 g / t or 26.4 ounces per ton AgEq)
The eight drill holes are already outlining a new mineralized zone over a length of 100 m and 200 m depth, which is still open in all directions. According to previous evaluations, the new zone could establish a connection to the historical high-grade work carried out on the mines ‘San Ramon’ (immediately west) and ‘San Pablo’ (immediately east). Since this part of the ‘Melladito’ vein has not yet been explored, follow-up work is still required. However, these will not be long in coming as this area is already an exciting area for resource estimation and mine development.
Source: Endeavor Silver
Bradford Cooke, Director and CEO of Endeavor, was very satisfied and summarized the successful exploration work as follows:
“Last year on ‘Bolanitos’ we were very successful in sketching new resources in the ‘San Miguel’ vein that is now being developed. We expect to begin mining there in the third quarter of 2020. This year we are discovering new resources in the ‘Melladito’ vein that should enable us to develop and mine there next year. This ore body is only 300 m from the ‘La Luz’ ramp and 300 m from the ‘San Miguel’ ramp and therefore extremely interesting. ”
After the easing of politics regarding the COVID-19 pandemic, Endeavor Silver will resume drilling on ‘Bolanitos’ and other projects as early as the beginning of June. We continue to expect good results from this drilling, which will implement the company and its resource base even better in the market!
So it remains extremely exciting at Gold Terra Resource in Canada and Endeavor Silver in Mexico!
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