The maiden resource estimate for the Lomero-Poyatos project was released this morning by Denarius Metals (TSXV: DSLV). The resource estimate follows a phase one surface drill program carried out over the course of the last two years.
The estimate is based on a total of 26,000 metres of drilling in aggregate via 83 holes, and focuses on both an open pit and underground mining model, which is said to extend from surface to depths of 350 metres. The project itself to date however has seen mineralization extend as far as 400 metres, with a strike of over a kilometre.
The maiden resource estimate consists of inferred resources of:
- Open Pit: 6.2 megatons at 2.3 g/t gold, 22 g/t silver, 0.60% copper, 0.44% lead, and 1.02% zinc
- Underground: 4.5 megatons at 1.7 g/t gold, 20 g/t silver, 0.24% copper, 0.37% lead, and 1.03% zinc
Collectively, the resource estimate translates to 693,000 inferred gold ounces, 7,360,000 inferred silver ounces, 48,000 inferred tons of copper, 43,700 inferred tonnes of lead, and 108,900 inferred tons of zinc.
“Lomero has a historic Inferred Mineral Resource of 20.93 Mt at 0.9% Cu, 0.85% Pb, 3.05% Zn, 62.38 g/t Ag and 3.08 g/t Au. Our recently completed Phase 1 drilling program has resulted in an initial MRE for Lomero, a measuring stick of our exploration success and progress to date and gives us confidence in the potential for expansion in the size of the deposit, as evidenced by the historic MRE, through further validation drilling. Ultimately, we are focused on the goal of advancing the project towards an economic study after we complete Phase 2 of our exploration work which will commence in October 2022,” commented CEO Serafino Iacono on the results.
READ: Denarius Metals Moves To Focus On Resource Expansion Under Drill Program
The firm also revealed this morning that a phase two drill program focused on step out and infill drilling is slated to begin next month. The program will see a total of 22,000 metres of drilling conducted, which will also look to validate 61 underground drill holes that were conducted in the 1980’s for use in the firms future updated estimate.
Denarius Metals last traded at $0.195 on the TSX Venture.
FULL DISCLOSURE: Denarius Silver Corp is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Denarius Silver Corp on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
