Bear Creek keeps up the pace at Corani

Bear Creek Mining‘s (BCM-V) Corani project in southern Peru continues to grow.

Back on March 13th the company released an initial inferred resource of 205 million oz. of silver, 1.9 billion pounds of lead and 1.1 billion pounds of zinc.

But things are looking even more positive in anticipation of its resource update in July, as step out drilling continues to make solid intersects.

Since March, Bear Creek has drilled 82 holes, and on June 15th the company released the results from the most recent 29 holes.

Highlights include: intersections of 93 grams per tonne of silver, 1.5% lead and 1.3% zinc over 84 metres at Corani Este and 174 grams per tonne of silver, 1.9% zinc and 0.8% zinc over 53 metres at Minas Corani.

The company says the fact that mineralization remains open, and that the source hasn’t been identified, means further discoveries, especially at the northern limits of the drilling at Corani Este are possible.

Four drills continue to work on the project — two at Corani Este and two at Minas Corani.

The company is also bullish on the increase in base metal values it is encountering as it moves north. Base metals can provide byproduct credits which would in turn reduce its silver production costs.

“The mineralized area now tested by drilling has increased by 100% for Corani Este and by 50% for Minas Corani from the areas used in the earlier resource estimate,” says Bear Creek’s president and chief executive Andrew Swarthout in a recent press release, “and many of the new holes contain grades higher than the resource average.”

The company says the deposit will likely be an open-pit mine.

Bear Creek’s focus is on gold and silver deposits in Peru. It plans to start drilling its Santa Ana prospect – also in Peru — later this month.

In Toronto at midday on June 16, the company’s shares were up nearly 1% or 5 to $5.40 on roughly 220,000 shares.