Americas Silver Corporation (TSX: USA) (NYSE “American”: USAS)
(“Americas Silver” or the “Company”) is pleased to provide an
update of year to date exploration results at its 100% owned Zone
120 deposit, which is adjacent to the San Rafael mine and part of
the Cosalá Operations property in Sinaloa, Mexico.
This press release features multimedia. View
the full release here:
http://www.businesswire.com/news/home/20180226005495/en/
Figure 1: Year to Date 2018 Drilling
(Graphic: Business Wire)
Highlights of the 2018 program include:
- Hole SR-402, with 16.91 meters grading
138 g/t Ag, 0.23 g/t Au and 0.43% Cu (204g/t AgEq)2
- Hole SR-409, with 2.0 meters grading
920 g/t Ag, 0.40 g/t Au and 2.36% Cu (1,218g/t AgEq)
- Hole SR-415 with 23.4 meters grading
259 g/t Ag, 0.40 g/t Au and 0.5% Cu (345g/t AgEq)
- Hole SR-415 with 7.2 meters grading 335
g/t Ag, 0.23 g/t Au and 0.55% Cu (413g/t AgEq)
- Hole SR-416 with 12.6 meters grading
119g/t Ag, 0.17g/t Au and 0.29% Cu (165g/t AgEq)
- Hole SR-417 with 21.7 meters grading
124g/t Ag, 0.21g/t Au and 0.34% Cu (178g/t AgEq)
- Hole SR-420 with 29.2 meters grading
115g/t Ag, 0.12g/t Au and 0.42% Cu (173g/t AgEq)
“Recent drilling continues to expand the footprint of Zone 120,”
stated Darren Blasutti, President and CEO of Americas Silver
Corporation. “These results have increased our confidence that Zone
120 will become an important part of the Company’s near-term
future. We expect that evaluation of development scenarios will
start immediately after all new drilling data has been incorporated
into an improved mid-year resource estimate.”
2018 Zone 120 Exploration Interim
Drilling Results
Exploration drilling ramped up in early January at the Cosalá
Operations property and is expected to finish in mid-April 2018.
Just over half of the initial 12,000 meter program has been
completed and three rigs are currently active at the project site.
Drilling has tested the northwest extension of known
mineralization, provided in-fill data in support of an upcoming
mid-year 2018 resource estimate update and tightened up drill
spacing in the southeast end of known mineralization. Ongoing
interpretation of the data indicates the presence of a significant
mineralized system consisting of multiple lenses over mineable
widths and strike lengths. The drilling in Q4, 2017 and 2018 year
to date has extended the deposit both along strike and down-dip and
it remains open in both directions. It has also extended the
deposit by 150 metres in both length and width so that the
mineralized footprint now covers an area of approximately 600
meters by 300 meters.
Table 1 presents the latest significant results received between
January 1 and February 20, 2018. The Company expects to regularly
release information as batches of samples are processed. Holes 402,
409, 410 and 415 were previously included in the January 29, 2018
press release. Data for holes SR-416, 417 and 420 are included in
Table 1. A complete summary of the drill results can be found on
the Company’s website at www.americassilvercorp.com.
Table 1: Year to Date 2018 Drilling
Hole
From
(m)
To
(m)
Interval
(m)
True Width
(m)
Au
(g/t)
Ag
(g/t)
Cu
(%)
Ag Eq
(g/t)
SR-416 175.0 188.0
13.0 12.6
0.17 119 0.29
165 Including 180.4
181.5 1.1
1.1 0.03 338
0.91 445 Including
184.5 185.4 0.9
0.9 0.53
336 0.62 445
SR-416 250.5 276.5
25.9 23.6
0.14 54 0.13
79 Including 258.3
259.3 0.9 0.9
0.08 100
0.33 143 Including
261.9 263.7 1.8
1.6 0.08
100 0.26 135 SR-416
279.9 285.1
5.2 5.1 0.15
71 0.19
103 SR-417 254.0
277.2 23.2 21.7
0.21 124
0.34 178 Including 261.7
262.9 1.2
1.2 0.82 686
1.83 953 Including
263.7 265.0
1.2 1.2 0.63
490 0.84
631 SR-417 293.6 300.2
6.5 6.1
0.24 199 0.45
268 Including 293.6
295.1 1.4
1.4 0.36 283
0.35 349 Including
297.9 299.3
1.3 1.3 0.29
352 1.05
492 SR-417 310.0 317.1
7.1 6.7
0.29 232 0.59
320 Including 316.1
317.1 1.0
1.0 0.76 740
1.54 971 SR-417
320.4 326.2
5.8 5.4 0.12
119 0.29
161 Including 323.5 324.9
1.3 1.3
0.26 315 0.66
409 SR-420 300.0
305.9 5.9
5.6 0.04 63
0.34 105 SR-420
385.4 416.8 31.3
29.3 0.12
115 0.42 173 Including
387.8 389.0
1.6 1.5 0.57
912 2.46
1,234
Holes 419, 421, 423, 424 and 425 have assays pending and are
expected to be released in the next few weeks.
Zone 120 is hosted in a package of volcanically derived
sedimentary rocks which also contain clasts of surrounding
calcareous sediments. This package sits above a Cretaceous
Batholith which represents a floor to potential mineralization. The
volcanic package is intruded by a complex series of andesitic sills
which occasionally cross stratigraphy on fractures, faults, or
zones of weakness before continuing on bedding. Mineralization is
in skarn and hornfels with skarn being the more productive
alteration package. Mineralization is oriented parallel to bedding
and consists of disseminated tetrahedrite/tennantite and
chalcopyrite with significant concentrations of silver. Silicified
hornfels and unaltered limestone create impermeable barriers to
mineralization. Grade and width of mineralization is roughly
correlated to the thickness and proximity to the late andesitic
sills and dikes. A typical cross section is provided in Figure
2.
Technical Information
Drill core samples are prepared at the Company’s secure facility
in Cosalá, Sinaloa. Assaying was done by ALS Chemex Labs in
Hermosillo, Mexico. The Company has a QA/QC program supervised by a
Qualified Person.
Daren Dell, Chief Operating Officer and a Qualified Person under
Canadian Securities Administrators guidelines, has approved the
applicable contents of this news release. For further information
please see SEDAR or americassilvercorp.com.
About Americas Silver Corporation
Americas Silver is a silver mining company focused on growth in
precious metals from its existing asset base and execution of
targeted accretive acquisitions. It owns and operates the Cosalá
Operations in Sinaloa, Mexico and the Galena Mine Complex in Idaho,
USA. The Company has acquired an option on the San Felipe
development project in Sonora, Mexico.
Cautionary Statement on Forward-Looking Information:
This news release contains “forward‐looking information” within
the meaning of applicable securities laws. Forward‐looking
information includes, but is not limited to, the Company’s
expectations intentions, plans, assumptions and beliefs with
respect to, among other things, the realization of exploration,
operational and development plans (including further exploration
and development of Zone 120), the Cosalá Operations and Galena
Complex as well as the Company’s financing efforts. Often, but not
always, forward‐looking information can be identified by
forward‐looking words such as “anticipate”, “believe”, “expect”,
“goal”, “plan”, “intend”, “estimate”, “may”, “assume” and “will” or
similar words suggesting future outcomes, or other expectations,
beliefs, plans, objectives, assumptions, intentions, or statements
about future events or performance. Forward‐looking information is
based on the opinions and estimates of the Company as of the date
such information is provided and is subject to known and unknown
risks, uncertainties, and other factors that may cause the actual
results, level of activity, performance, or achievements of the
Company to be materially different from those expressed or implied
by such forward looking information. This includes the ability to
develop and operate the Cosalá and Galena properties, risks
associated with the mining industry such as economic factors
(including future commodity prices, currency fluctuations and
energy prices), ground conditions and factors other factors
limiting mine access, failure of plant, equipment, processes and
transportation services to operate as anticipated, environmental
risks, government regulation, actual results of current exploration
and production activities, possible variations in ore grade or
recovery rates, permitting timelines, capital expenditures,
reclamation activities, social and political developments and other
risks of the mining industry. Although the Company has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated, or intended. Readers are cautioned
not to place undue reliance on such information. By its nature,
forward-looking information involves numerous assumptions, inherent
risks and uncertainties, both general and specific that contribute
to the possibility that the predictions, forecasts, and projections
of various future events will not occur. The Company undertakes no
obligation to update publicly or otherwise revise any
forward-looking information whether as a result of new information,
future events or other such factors which affect this information,
except as required by law.
Cautionary Note to U.S. Investors:
The terms “mineral resource”, “measured mineral resource”,
“indicated mineral resource”, “inferred mineral resource” used in
the press release are Canadian mining terms used in accordance with
National Instrument 43-101 - Standards of Disclosure for Mineral
Projects under the guidelines set out in the Canadian Institute of
Mining, Metallurgy and Petroleum Standards. Mineral resources which
are not mineral reserves do not have demonstrated economic
viability.
While the terms “mineral resource”, “measured mineral resource”,
“indicated mineral resource”, and “inferred mineral resource” are
recognized and required by Canadian regulations, they are not
defined terms under standards in the United States and normally are
not permitted to be used in reports and registration statements
filed with the Securities & Exchange Commission (“SEC”). As
such, information contained in the Company's disclosure concerning
descriptions of mineralization and resources under Canadian
standards may not be comparable to similar information made public
by U.S companies in SEC filings. With respect to “inferred mineral
resource” there is a great amount of uncertainty as to their
existence and a great uncertainty as to their economic and legal
feasibility. It cannot be assumed that all or any part of an
“inferred mineral resource” will ever be upgraded to a higher
category. Investors are cautioned not to assume that any part or
all of mineral deposits in these categories will ever be converted
into reserves.
1 True Width2 Silver Equivalent (AgEq) is calculated using
prices of $18.00/oz Ag, $1,300/oz Au and $3.00/lb Cu
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180226005495/en/
Americas Silver CorporationDarren Blasutti,
416‐848‐9503President and CEO
Americas Gold and Silver (TSX:USA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Americas Gold and Silver (TSX:USA)
Historical Stock Chart
From Apr 2023 to Apr 2024