3 AOTH silver plays
Mountain Boy Minerals (TSX.V:MTB) is active in northwestern British Columbia’s Golden Triangle, in my opinion, if close to power, highway and port facilities as MTB is, one of the best jurisdictions for base and precious metals exploration.
MTB has assembled a large land position centered around its flagship American Creek project and zeroed in on three targets for its summer drill program. Work this year on the other projects - BA, Surprise Creek and Southmore - is intended to set them up for larger programs next year, perhaps funded by joint venture partners.
In 2006, Mountain Boy conducted a 19-hole drill campaign around the old Mountain Boy silver mine that lies at the center of American Creek. A small underground drill was used. The average hole length was 47 meters – barely scratching the surface. The focal point was the aptly named High Grade Vein, which was the heart of the historic mining. Six holes in that vein intercepted more than a kilogram of silver over at least a meter, with the highlight being hole 2006-10 which hit 5,258 g/t over 5.18 meters. (5 kg is 160 troy ounces)
CEO Lawrence Roulston and his team are going for high-grade in the Golden Triangle. Although it’s still early for Mountain Boy, a discovery hole on any of these targets could light American Creek up like a Christmas tree. We expect a slow ramp-up in the first phase and growing interest once the drills start turning in late summer to fall.
Mountain Boy Minerals
TSX.V:MTB, Frankfurt:M9UA
Cdn$0.40, 2020.07.27
Shares Outstanding 36,710,382m
Market cap Cdn$14.68m
MTB website
Silver Dollar Resources (CSE:SLV) has a boatload of talent and experience at the management and board levels. Having recently IPO’d on the Canadian Stock Exchange @ $0.15 a share, SLV has already started field work at one of two prospects in the famous Red Lake District of northwestern Ontario, where a number of gold juniors including 2019 belle of the ball Great Bear Resources (TSX-V:GBR), are proving up gold ounces in a new “Red Lake 2.0” area play.
Silver Dollar is also poised to activate a letter of intent (LOI) with First Majestic Silver Corp. (TSX:FR) for the La Joya silver-copper-gold property in Mexico.
Under the LOI, Silver Dollar would acquire up to a 100% interest in First Majestic’s La Joya Silver Project, located in the State of Durango in the Mexican Silver Belt.
A 2013 resource estimate outlined 159.7 million inferred silver-equivalent ounces at a 30 grams per tonne cut-off. Doubling the cut-off grade to 60 g/t yields a more conservative 92.9 million AgEQ ozs.
To acquire an 80% interest in La Joya, Silver Dollar will pay First Majestic $1.3 million in cash over four years, issue 19.9% of its shares, incur $1 million in exploration expenditures within five years, and grant FR a 2% NSR royalty. If Silver Dollar spends the million dollars within three years, First Majestic will waive nearly half, or $600,000, of the cash option payments.
SLV can earn the remaining 20% by issuing First Majestic additional shares equal to Silver Dollar’s then-outstanding common shares, within five years.
According to Silver Dollar, the exploration potential at La Joya is considered excellent, given that it hosts the La Joya Mineralized Trend as well as the Santo Nino and Coloradito deposits. The Ag-Cu-Au property consists of 15 mineral concessions totaling 4,646 hectares.
Silver Dollar Resources Inc.
CSE:SLV
Cdn$0.85, 2020.07.27
Shares Outstanding 19,600,001m
Market cap Cdn$16.6m
SLV website
Max Resource Corp (TSX.V:MXR) continues to expand the surface mineralization at its CESAR copper + silver project in Colombia. Since November, Max's geological teams and prospectors have been identifying copper and silver targets within a 120 km x 20 km area, at their Cesar copper+silver project in northeastern Colombia.
Max is using rock panel and composite grab samples sampling to identify structures, continuity of thickness, and strike length, to determine potential size prior to drilling.
The Vancouver-based company is following the theory that continuous panel samples are pointing to a giant copper + silver mineralized system.
In a Feb. 27 news release, Max notes that its recent AM North and AM South discoveries are hosted in well-bedded sandstone-siltstone similar to KGHM’s monster “Kupferschiefer” mines in Poland.
In an earlier interview with AOTH, Max’s head geologist, Piotr Lutynski, said Colombia’s stratigraphy is similar to his homeland, Poland, and its cluster of Kupferschiefer sediment-hosted copper-silver deposits.
State-owned KGHM Polska Miedz is the world’s eighth largest copper producer and the second biggest silver producer. Its Kupferschiefer (“copper shale” in German) copper-silver deposits are regionally extensive.
The giant Lubin-Sieroszowice deposit contains 52 million tonnes of copper and 2.275 billion ounces of silver. The Kupferschiefer is the world’s leading silver producer, yielding 40 million ounces in 2019, almost twice the production of the world’s second largest silver mine, states the 2020 World Silver Survey.
Consider:
Max has signed two non-exclusive confidentiality agreements with global miners.
What junior resource company out there has more potential silver in the ground than Max?