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This Junior Continues to Yield Top Notch Results in Mexico

Jocelyn Aspa Jocelyn Aspa, The Market Herald
11 Comments| July 30, 2021

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When it comes to mineral exploration, finding something that is rare and of great quality is like finding a needle in a haystack: you don’t always expect to, but when you do it’s like winning the lottery — or close to it.

For Fabled Silver Gold Corp. (FCO) (TSX-V: FCO, OTCMKTS: FBSGF, Forum), a Vancouver-based exploration company, its Santa Maria Property at Parral in the State of Chihuahua, Mexico is an underground silver-gold mine with very high grade elevated level of epithermal veining that spans across the entire property.

Located in the centre of Mexico’s epithermal silver-gold belt, the location is considered as a significant metallogenic province which is known for producing the most silver than any other equivalent region in the world.

With that in mind, Mexico is already the global leader in silver production — and continues to lead to this day. Despite a 9.5 per cent drop in production in 2020, last year the country produced 5,541 tonnes of silver, while Peru — which produced the second most amount of silver — clocked in at 2,991 tonnes.

When it comes to gold production, it is anticipated that Mexico will have a 10 per cent increase in gold output this year after operations were disrupted in 2020 due to COVID-19.

In short, not only is Fabled Silver Gold’s location in Mexico favourable, the belt its property lies on is also a premium destination.

Overall, the company believes the property is both underexplored and high-grade with an exploration potential to broaden its mineral resources while also identifying new discoveries.

As the summer months continue to march on, Fabled Gold recently reported diamond drilling results from the newly upgraded 14,200 metre drill program at the Santa Maria Property.

Fabled intercepts new high grade gold system

In a press release, drill assay results were yielded from diamond drill holes SM20-21 and SM202-22.

“As a result of discovering this new gold domain system, and ongoing interpretation of structural controls, assays results to date, and visual examination of recently drilled holes we have immediately expanded the present drilling by 5,000 meters, to a total of 14,200 meters,” Peter J. Hawley, president and CEO of Fabled Silver Gold, said in a press release. “This will ensure that we have significant meterage to properly evaluate this gold discovery.”

Like drill hole SM20-19, hole SM20-21 intercepted the structure at the same vertical depth of -225 metres, which has very little gold at this elevation.

Holes SM20, 22, 23 and 24 sit 75 metres to the west of drill collars SM20-19-20 and have been designed to intercept the Santa Maria structure at vertical depths of -175, -225 and -275 metres and using a new interpreted mineral or structural thesis.

“We continue to define a new, never discovered high grade gold mineral domain system, with silver credits, over consistent widths in an area never explored, and which remains open to the west and at depth, plunging 45 degrees to the west and open in all directions for expansion,” Hawley added.

In addition to these diamond drilling results, the company also revealed drill holes SM20-23-26, inclusively, are completed and have been submitted for assay. Meanwhile hole SM20-27 is in progress while sites for holes SM20-28 through to 36 are currently being planned.

Fabled Silver Gold recent highlights

The last month or so alone has been busy for Fabled Silver Gold. Case in point, the company announced drilling results at the Santa Maria Property on June 22, which included 7.90 metres grading 142.48 grams per tonne (g/t) silver within 19.65 metres grading 74.67 g/t silver.

Just a couple of weeks later, Fabled Silver Gold’s underground diamond drilling program at Santa Maria intercepted four zones of mineralization, which included 314.35 g/t silver over 0.80 metres while the company then discovered new high grade gold system with values intercepted up to 10.85 g/t gold within a 30.7 metre structure grading 161.09 g/t gold.

Additionally, Fabled Silver Gold also recently spoke with Stockhouse Editorial about some of its recent results and what the company has planned for the rest of this year and potentially into next.

Investment highlights

With the company’s recent activity in just the last month alone, it should come as no surprise its share price has handsomely increased year-to-date. As of market close on July 28, shares of Fabled Silver Gold have increased a steady 45 per cent to C$0.14. This stock trades on average a million shared a day and is thus shows great liquidity. The current share price is an exceptional entry price to the market.

On May 19, Fabled Silver Gold announced a proposed spinout of copper assets into Fabled Copper Corp. Common shares of the copper company will be distributed to shareholders of Fabled Silver Gold on the basis of one Fabled Copper share for every five common shares of the Fabled Silver Gold held, thus shareholders will own shares in both companies.

With its strong position in Mexico and robust activity, Fabled Silver Gold presents itself as a sound investment for investors looking for a growing investment opportunity.


FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.


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