BCM: New Discovery on Corani Silver deposit MexicoThe Gold Discovery Letter Blog
Aurelian has the biggest gold discovery, but Bear Creek Mining probably has the biggest silver discovery. The previous resource estimate was around 250 million ounces of silver, but the new one which will be releases in December could easily show more than 400 million ounces. And the best thing ... they keep finding high grade silver in new areas. When we break out above $10.50 expect a nice run to $15. BCM is currently still undervalued. An ounce of silver in the ground currently costs around $1.
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BCM: New Discovery on Corani Silver deposit Mexico
New Zone Discovered- Surface sampling 400m southwest of C153 (latest results reported above) has discovered a 700m x 300m zone of quartz and stock work veining in pre-mineral tuff with grades up to 100 g/t Ag with up to 0.5 g/t gold. Drilling in this newly discovered area is underway.
Press Release
More positive drill results from Corani silver deposit, new mineralized outcrops extend target west of Minas Corani
Wednesday
November 15, 8:30 am ET
VANCOUVER, Nov. 15 /CNW/ - Bear Creek Mining (TSX Venture:
BCM -
News; "Bear Creek" or the "Company") is pleased to announce results for twenty-four additional drill holes from the Corani project. This brings the total holes drilled following the recently updated resource estimation (see news release 23 August 2006) on this major silver discovery to 146; and the total drilling on the project to 59,797 meters in 361 drill holes. Highlights of this release include:
- Corani Este/Minas Corani Connector: Drilling continues to expand silver mineralization between Este and Minas, including C159A with 20m averaging 135 g/t silver and C-161 with 47m averaging 72 g/t silver, including 16m averaging 101 g/t silver and 2.0% zinc. - Minas Corani: Step-out drilling 250 meters north between the east and west limbs, intersected 34m at 145 g/t silver, 0.9% lead in C152A; mineralization still open. - Minas Corani Southwest: Step-out drilling under cover southwest of Minas Corani has intersected 14m averaging 208 g/t silver, 2.6% lead, 2.4% zinc (C153). This mineralization remains open; and, importantly 400 meters further west an outcrop with strong surface silver geochemistry (up to 100g/t Ag) has been discovered. Drilling has commenced on this new target. (see "New Zone Discovered" below)
Andrew Swarthout, President and CEO, stated "We continue to intersect excellent silver base metal grades in drilling; and, significant new outcrop sample results have caused us to reevaluate our concepts, opening up more new areas for additional exploration. New discoveries on the property are still being made almost 18 months since the first drill hole was collared; largely because the nearly 60,000 meters of drilling is concentrated in a relatively small area surrounded by post-mineral cover. The robust silver and zinc grades between Minas Corani and Corani Este, as well as the generally high "hit-rate" in all of the 122 holes drilled since the August resource estimate, will combine to have a positive impact on the new resource estimate update expected in December. Importantly, the high zinc grades recently encountered give Corani excellent leverage to the currently favorable base metals prices."