Power Metal Resources plc aims to start drilling for silver after signing a contract to test the Victoria Vein at the Silver Peak project in British Columbia, Canada.
The project includes the Eureka-Victoria Silver Mine, the first Crown-granted mineral property in British Columbia.
The drill programme is expected to be completed within a two-week window before the onset of winter conditions.
The company said that its contractor was expected to mobilise within the next few days and begin an initial 500-metre diamond core drill next week.
PROGRAMME
The initial programme entails drilling from two pads with planned core intercepts to test the Victoria Vein where Power Metal’s due diligence sampling returned bonanza silver and significant copper and lead grades from two 0.5m long surface channel samples.
These were 10,718 grams per tonne silver (345 troy oz/tonne), 2.14% copper and 2.99% lead; and also at 0.50m 14,937 g/t silver (480 troy oz/tonne), 3.05% copper and 11.95% lead.
The core drilling will use a NQ size drilling bit, for a 48mm diameter core sample, with a winter capable track mounted rig operated on a double 12-hour shift basis.
Chief executive Paul Johnson said the company’s partners in Canada had worked hard to organise the programme before the weather window closing.
“The expeditious work undertaken has given us an opportunity to assess this unique high-grade silver project through drilling, far earlier than we initially thought possible.
“The team in-country are now focused on mobilisation and commencement of drilling and we are naturally eager to see the outcome of this programme, given the results we achieved from the sampling programme recently announced.”
On 14 September 2020, Power Metal announced it had exercised an option agreement to the right to earn-in to a 30% interest in the project.