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A Preliminary Economic Assessment (“PEA”) is a significant milestone for junior exploration companies, essentially it promotes them into a select group of “valued asset” owners in the mining industry. It is a third-party assessment of the economic viability of the project’s resource estimates which a company has completed to date and it is an outline of the steps to be taken to reach commercial production.
Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) is pleased to announce the positive results of the Preliminary Economic Assessment (“PEA”), prepared in accordance with National Instrument 43-101 – Standard of Disclosure for Mineral Projects (“NI 43-101”), on the Chimo Mine Project located 45 km east of the Val-d’Or mining camp.
Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce assay results from the last eight (8) diamond drill holes from the definition drill program at Santa Barbara in the Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia. Two (2) of these drill holes (DSB-45 and DSB-47) filled in gaps in previous drilling of the High-Grade Zone. The remaining six (6) holes (DSB-44. DSB-48, DSB-49, DSB-50, DSB-51 and DSB-52) tested the potential south-southeastern extension of the High-Grade Zone at Santa Barbara.
Over on Substack, I write about Cartier Resources (ECR.V). Philippe Cloutier is racking up the gold ounces at the old Chimo Mine site in Quebec. While we’re waiting for news, here’s the background. Cartier Resources: A Golden Layer Cake
Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) announces drill results in the East Chimo Mine Sector, located at the midpoint of 450 m between the Chimo Mine and West Nordeau sectors (FIGURE 1). The results are located on the Chimo Mine Property, 100% owned by Cartier, which is located 45 km east of the Val-d’Or mining camp.
Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce assay results from eight (8) additional diamond drill holes from its definition drilling program at the Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia. Hole DHK-27 was drilled from Huayra Kasa due west at -45 degrees to a length of 860m to fill-in gaps in previous drilling of the High-Grade Zone. Five (5) additional holes (DHK-26. DHK-28, DHK-29, DHK-30 and DSB-42) were drilled to the southwest from the Huayra Kasa area to test the eastern margin of the Santa Barbara deposit. Hole DSB-43 was drilled on southwest side of Santa Barbara and hole DSB-46 tested the potential south-southeastern extension.
GR Silver Mining Ltd. (“GR Silver Mining” or the “Company”) (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – is pleased to announce additional results from 38 infill drill holes in the resource update program underway at the Company’s Plomosas Mine Area, Plomosas Project in Sinaloa, Mexico. These drill holes were targeted to replace historical holes used in the 2021 NI 43-101 mineral resource estimate, where unsampled intervals were assigned zero values, or to test new high-grade Ag-Au mineralized zones, identified by the Company in both the footwall and hanging wall of the main mineralized zone (Figure 1). GR Silver Mining’s infill drilling program is continuing in the Plomosas Mine Area, and to date has added 105 holes (7,330 m) of new drilling inside the historic Plomosas Mine since completion of the Company’s 2021 NI 43-101 mineral resource estimation.
Announcing the start of the operating season is usually a somewhat ho-hum press release. However, Tocvan Ventures (TOC:CSE) is beginning to drill the 24 km2 area that makes up the El Picacho Project in Sonora Mexico. While the company will continue to work on its Pilar project, the real excitement this season will come from Picacho.
Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce assay results from two (2) additional diamond drill holes from its on-going drilling program at the Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia. One drill hole, DSB-36, collared 400m southeast of the Santa Barbara adit, tested the extension of the core of the high-grade feeder zone at Santa Barbara while hole DSB-34, tested the potential southwest limits of the high-grade feeder zone as shown in Figure 1.
Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce that, by mutual agreement with Empresa Minera Villegas S.R.L. (“Minera Villegas”), the title holder of the Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia (“Iska Iska”), the payment schedule in connection with the US$10 million payment required for Eloro to earn a 99% interest in Iska Iska has been amended.