Cartier Cuts Two New Zones at Chimo Mine Project
Highlights of press release (FIGURE 1):
Tag: silver
Eloro Resources’ drill hole DSB-47 intersects 114g Ag eq/t (9.90g Ag/t, 0.12 g Au/t, 0.96% Zn, and 0.68% Pb) over 320.97m in the Santa Barbara High-Grade Zone, at the Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Bolivia
Holes DSB-50, DSB-51 and DSB-52, the southernmost holes that tested the potential south-southeastern extension of the High-Grade Zone at Santa Barbara, each returned well mineralized intersections over 100m core length as follows: 86.67g Ag eq/t (13.57g Ag/t, 0.99% Zn and 0.41% Pb) over 105.42m including 193.50 g Ag eq/t (15.34g Ag/t, 3.22% Zn and 0.17% Pb) over 10.57m (DSB-50) 103.03g Ag eq/t (5.18g Ag/t, 1.72% Zn and 0.21% Pb) over 143.06m including 175.06 g Ag eq/t (9.39g Ag/t, 2.96% Zn and 0.35% Pb) over 49.87m (DSB-51) 123.28g Ag eq/t (7.46g Ag/t, 0.14 g Au/t, 1.85% Zn and 0.26% Pb) over 119.77m including 306.28 g Ag eq/t (18.03g Ag/t, 0.45g Au/t, 4.55% Zn and 0.47% Pb) over 28.79m (DSB-52) Drill holes in the south-southeastern extension of the Santa Barbara Deposit are notably Zn-rich returning some of the highest Zn values intersected thus far. These three holes expand the strike extent of the Santa Barbara High-Grade Zone to more than 1,100m significantly expanding the potential open pittable resource. The High-Grade zone is now 800m across and is open along strike to the south-southeast.
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.
Eloro Resources’ drill hole DHK-27 intersects 202.43g Ag eq/t (69.80g Ag/t, 1.21% Zn, 0.49% Pb, and 0.12%Sn) over 325.48m including a higher-grade portion of 395.98 g Ag eq/t (182.02g Ag/t, 1.73% Zn, 0.97% Pb, 0.18% Cu and 0.19%Sn) over 109.60m in the High-Grade Zone, Santa Barbara Deposit at the Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Bolivia
The silver grades in DHK-27 are the highest and most extensive yet intersected in the Santa Barbara deposit. 50% of this 860m long hole, drilled from Huayra Kasa due west at -45 degrees, returned reportable intersections averaging 172.09 g Ag eq/t. Holes DHK-26, DHK-28, DHK-29, DHK-30 and DSB-42, which returned multiple intersections, are additional holes collared in the Huayra Kasa area that tested the eastern margin of the High-Grade Zone at Santa Barbara. Highlights include: 222.51g Ag eq/t (28.44g Ag/t, 3.11% Zn and 0.26% Pb) over 53.90m and 99.76 g Ag eq/t (32.59g Ag/t, 0.11 g Au/t and 0.54% Zn) over 82.38m (DHK-26). 79.22g Ag eq/t (26.62g Ag/t, 0.35% Zn and 0.35% Pb) over 141.56m including 162.77g Ag eq/t (67.00g Ag/t, 0.55% Zn and 1.30% Pb) over 23.85m (DHK-28). 176.28g Ag eq/t (19.10g Ag/t, 2.29% Zn and 0.27% Pb) over 21.30m and 82.48g Ag eq/t (5.07g Ag/t, 0.21 g Au/t, 0.78% Zn and 0.18% Pb) over 69.18m (DHK-29). 130.69g Ag eq/t (7.19g Ag/t, 1.83% Zn and 0.48% Pb) over 42.17m and 129.98g Ag eq/t (19.71g Ag/t, 1.50% Zn and 0.57% Pb) over 72.31m including a higher-grade portion of 208.42g Ag eq/t (33.10g Ag/t, 2.37% Zn and 1.00% Pb) over 34.64m (DSB-42). Channel sampling of the Mina1 and Mina2 underground workings in the southern part of the property approximately 2km south-southeast of the Santa Barbara adit, returned significant values in vein breccias as follows: 153.94g Ag eq/t (55.03g Ag/t, 0.11 g Au/t, 0.7% Zn, 0.16% Pb and 0.08 % Sn) over 145.95m of the northwest trending drift including a higher-grade portion of 285.16g Ag eq/t (120.18g Ag/t, 0.25 g Au/t 1.23% Zn, 0.30% Pb and 0.13% Sn) over 56.34m in Mina 1. 382.79g Ag eq/t (15.67g Ag/t, 1.70 g Au/t, 2.20% Zn and 0.75% Pb) over 68.53m in an east-west trending crosscut in Mina 2. A second shorter crosscut on a secondary subparallel structure approximately 20m to the south returned 475.78g Ag eq/t (69.31g Ag/t, 0.26 g Au/t, 5.62% Zn and 1.92% Pb) over 26.67m in Mina 2. Drilling across the valley of the Iska Iska Caldera indicates that this area is underlain by a coarse-grained porphyritic dacitic intrusion that is well mineralized with Ag, Zn and Pb and is the likely source of the extensive epithermal mineralization in the Santa Barbara and Central Breccia areas. The porphyry, now named the Iska Iska Porphyry, is approximately 800m by 600m and is notable for the absence of tin mineralization despite the abundance of tin in the nearby area. The tin at Iska Iska is likely the product of an earlier higher temperature and deeper tin porphyry, which has been overprinted by the later higher-level porphyry-epithermal Ag-Zn-Pb mineralization related to the Iska Iska Porphyry. The definition drilling has more than doubled the volume of the High-Grade Zone defined by the >90 g Ag eq/t grade shell model to approximately 1,000m along strike, 800m wide and extending to a depth of 1,100m. This zone is open to the south, west and northwest as well as at depth. Eloro is working closely with Micon International to provide all data necessary for estimation of the inaugural mineral resource estimate targeted for the end of Q1 2023. Magnetic inverse modelling and limited deep drilling suggest that the major tin porphyry is likely below the Iska Iska Porphyry and to the south and southwest in the Porco and Mina Casiterita areas. The tin porphyry will be a major focus of exploration in 2023.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.
Cartier Silver Announces Closing of Its Previously Announced Financing
Cartier Silver Corporation (CSE:CFE) (“Cartier Silver” or the “Company”) is pleased to announce that it is has closed the final tranche of a previously announced (see Cartier Silver news releases dated November 22, 2022, December 15, 2022 and December 16, 2022) non-brokered private placement (the “Private Placement”) for additional proceeds of $999,500 pursuant to the offering of 10,000,000 units of Cartier Silver at a price of $0.40 per unit (“Units”) for aggregate gross proceeds of $4,000,000. A total of 2,498,750 Units were issued to investors in connection with the final closing of the Private Placement.
Cartier Silver Announces First Closing of its Previously Announced Financing
Cartier Silver Corporation (CSE:CFE) (“Cartier Silver” or the “Company”) is pleased to announce that it is has closed the first tranche of a previously announced (see Cartier Silver news releases dated November 22, 2022 and December 15, 2022) non-brokered private placement (the “Private Placement”) for proceeds of $3,000,500 pursuant to the offering of up to 10,000,000 units of Cartier Silver at a price of $0.40 per unit (“Units”) for aggregate proceeds of up to $4,000,000. A total of 7,501,250 Units were issued to investors in connection with the first closing of the Private Placement.
Cartier Silver Announces Upsizing of Previously Announced Financing; and Signing of Definitive Agreement to Acquire the Chorrillos Project in Potosi Department, Bolivia
Cartier Silver Corporation (CSE:CFE) (“Cartier Silver” or the “Company”) is pleased to announce that, due to investor demand in connection with its previously announced (see the Company’s press release dated November 22, 2022) private placement offering (the “Private Placement”), it is increasing the size of the Private Placement to up to 10 million units of the Company (“Units”) at a price of $0.40 per Unit for gross proceeds of up to $4 million.
Cartier Iron Announces Share Consolidation and Name Change
Cartier Iron Corporation (CSE:CFE) (“Cartier Iron” or the “Company”) is pleased to announce that the Company determined a date for the previously announced change of name to Cartier Silver Corporation (the “Name Change”) and consolidation of its common shares on the basis of five (5) pre-consolidation common shares of the Company being consolidated into one (1) post-consolidation common share of the Company (the “Share Consolidation”) (for further details with respect to the Share Consolidation, see news release dated October 26, 2022). The Share Consolidation is scheduled to become effective at the opening of markets on Friday, November 18, 2022.
GR Silver Mining Intersects 44.5 m at 518 g/t AgEq Including 6.5 m at 2,101 g/t AgEq in the Footwall and Hanging Wall of the Main Mineralized Zone at the Plomosas Mine Area
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.
Tocvan Commences the Drilling Season at the El Picacho Gold/Silver Project in Sonora Mexico
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.
Cartier Iron to Acquire a Silver Project in the Potosi Department, Bolivia; To Proceed With Share Consolidation and Name Change to Cartier Silver Corporation
Cartier Iron Corporation (CSE:CFE) (“Cartier Iron” or the “Company”) is pleased to announce it signed a letter of intent agreement on October 25, 2022 (the “Agreement”) to acquire a 100% interest in the Chorrillos Project, comprising two separate properties known as the Gonalbert Mining area and the Felicidad Mining area, located in southern Bolivia approximately 15 to 20km southeast of Eloro Resources Ltd.’s Iska Iska silver-tin polymetallic project.