More silver in Bolivia for South American Silver

More results from South American Silver‘s (SAC-T) Malku Khota project in Bolivia helped strengthen the company’s share price before the market closed on Tuesday.

In Toronto on May 20 its shares were up 5% or 3 to 57 on 36,000 shares traded. South American has roughly 50 million shares outstanding.

Results come from ten holes that weren’t part of its recently reported resource estimate. That estimate put indicated resources at 50.2 million oz. of silver and 288,000 kg of indium and inferred resources at 74.7 million ounces of silver and 487,000 kg of indium

Those numbers, however, will be updated in July based on the recent drill results and further drilling.

Five of the most recent holes come from the Limosna ridge, while the other five are from the Sucre Zone which is roughly 800 metres east of its best defined zone known as Wara Wara.

Results from Limosna include some of the best grades the company has intersected to date, and, importantly South American Silver says, one hole shows enrichment extends deeper than is currently modeled.

Highlights from Limosna include: 304 metres grading 112.6 grams silver per tonne, and 280 metres grading 66.8 grams silver per tonne.

At the new Sucre zone highlights included: 57.8 metres grading 100.6 grams silver per tonne and 99.7 metres grading 142.2 grams per tonne.

“Clearly since the Sucre zone was not included in the reported resource — because we did not have enough information at the time — any updated resource should be larger,” South American Silver’s president Ralph Fitch said in a statement.

Fitch also added that the results included some of its best indium and lead-zinc values, “all of which could add to the revenue per tonne,” he said.