Drilling Intersected 5.10m of 372.5 g/t (12 ounces) SilverLooks like there is big time potential to increase the silver resource at Bilbao. This factor should increase what the company will get if it ends up selling the project.
" SilverRich Zone In particular, the Company has focused recent exploration in the southern part of the Bilbao project to investigate two types of silverrich targets situated immediately to the south of the main Bilbao deposit. The targets, all with high grade silver content, comprise high angle hydrothermal veins and more massive stratiform, brecciated limestone horizons. In a program of drilling in June and July, 2011, six separate mineralized veins and/or faultfillings were identified. Four of the mineralized fault structures trend NNWSSE while another two veins strike NNESSW. The former have strong base metal values while the latter contain silver values of up to 664g/t silver. The width of these structures varies, with veins averaging about 1m true thickness and faultfillings up to 12m in thickness. A programme of five drill holes (1,928 metres) was completed in April 2012 and confirms the down dip continuity of the argentiferous breccia zone for a further one hundred metres to the south, with a particularly strong development in drillhole X96 which intersected 5.10m at a grade of 372.5g/t Ag. The remaining four holes intersected narrow widths of greater than 200 g/t Ag. The silverenriched zone at Bilbao is now known to extend over an area 350 x 100m in a north south direction and appears to occupy a brecciated zone within the limestone sequence, the thickness of which is variable from about four to 20 metres. The resource estimate for Bilbao does not include these newly found silver rich veins and ‘flats’ which are expected to eventually contribute to the silver resource at Bilbao. "
- June 1, 2012 news release