RE: Coach might have a better ideaHi Sam!
The MAG drilling this year at Battopilas is probably only about a little more than a kilometer from the edge of the EXM property. That sounds encouraging but it is worth pointing out that the mineralization that comes form this area is typically very localized and mere proximity to a high grade zone is not as important in this case as it would be with a regional trend.
I was able to speak with Peter Megaw this year at the PDAC in Toronto, and he confirmed that it is quite possible that other high grade zones could be found outside the area controlled by MAG. The geology description he provided went a bit over my head, but I think it comes down to concentric faults, overlapping an area of intense hydrothermal activity, that created the extremely rich silver shoots in these veins. So it is not necessarily about looking for extensions of these veins onto our property holdings, but more about finding more of that highly fractured, honeycombed geology. That could occur anywhere on the EXM controlled property.
Most of the historic mines in the area are within the boundaries staked by MAG, but the mineralized areas under overburden would not have been discovered by the past mining activity. New surveying methods to identify geologic structure will help to locate other deposits that may exist on the property. Also the native silver from these veins is so rich that the rock actually conducts electricity, so its pretty effective to run chargeability surveys to help locate the veins once we narrow down a prospective structural anomaly.
I am optimistic that additional discovery areas remain to be found on the EXM property. I also think that the ongoing exploration and assay results with such high grades will continue to generate more attention to the property and perhaps increase the speculative appeal. I would not be surprised if a major MAG deposit is proven up, we will see quite a few offers to JV with EXM, and Hothchild only has the right of first refusal.
cheers!
COACH247