A reverse-circulation drilling program by Coeur d’Alene Mines (CDE-N) has increased the resource at the Martha silver mine in Santa Cruz province, Argentina, by about a quarter.
The new resources are along strike and down dip from known mineralization blocked out in the existing mine workings. The new drilling brings the resource figure to 33,000 tonnes grading 3,800 grams silver per tonne.
About 100 metres to the east of the Martha workings, Coeur has identified another zone of high-grade silver mineralization in the R-4 prospect. The mineralization occupies the same structure as the main Martha orebody.
At R-4 one reverse-circulation hole intersected 1 metre grading 11,008 grams silver per tonne. A second hole intersected 4,165 grams per tonne over 11.5 metres, and a third cut a 20.5-metre interval with an average silver grade of 1,067 grams.
The company expects to convert virtually all of the existing resource into reserves (at present, about two-thirds of it is in proven and probable reserves). The main Martha vein structure is thought to be prospective over a 1.6-km strike length and two other veins have been identified on surface.
More drilling is to begin this week.
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