Mexico is the top mining jurisdiction for precious metals like silver, and although output in the country decreased by roughly 4 percent to 5.6 thousand metric tons in 2020, the country still remains, by far, the largest silver producer in the world.
Vancouver, BC-based Fabled Silver Gold Corp. (FCO)(TSX-V: FCO, OTCMKTS: FBSGF, Forum) is a junior exploration company focused on acquiring, exploring and operating properties that have near-term metal production and boasts of an experienced management team with years of involvement and exploration in Mexico.
The company’s Santa Maria property, located in Parral, Mexico, is in the heart of the country’s prolific epithermal silver-gold belt with historical mining dating back to the 1940s on the property. To date, 21 veins have been discovered on the surface with only two partly drilled while all veins are open on strike and at depth.
Fabled Silver Gold has the option to own 100 percent of the property from Golden Minerals and, in mid-November, the company announced results from its upgraded 14,000 meter drill program from the Santa Maria project.
Fabled Silver Gold announces results from 14,000 meter program
In a press release, the company said that exploration hole SM20-22 below and west of discovery hole SM20-20 intercepted 14.4 metres grading 4.95 g/t gold containing 9.4 meters of 7.17 g/t gold and 1 meter grading 14.05 g/t gold, 1.8 metres reported 22.60 g/t gold and 1.5 metres graded 7.11 g/t gold.
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"Planned definition holes SM20-40, and 41 target the down plunge extension of previously drilled exploration holes SM20-20 and 22. As previously reported, discovery hole SM20- 20 intercepted 30.7 meters grading 2.5 g/t Au containing; 22.7 meters reporting 3.3 g/t Au, 5.61 g/t over 11.6 meters and 8.4 meters grading 7.24 g/t Au. The highest-grade intercept in the 30.7-meter gold mineralized zone was 10.85 g/t Au over 1.5 meters,” Peter J. Hawley, CEO and president of Fabled Silver Gold, said in a press release.
Putting it simply, results from SM20-40 were a success while also continuing to add to the company’s mineral inventory while the gold domain system discovered in holes SM20-20, and 22 remains open at depth.
Meanwhile hole SM20-41 will explore the downdip potential of this particular zone, with further drilling potentially required in this area.
Results from holes SM20-28, 29, 30, 37, 38 and 39 are currently being compiled, which include assay data and information related to structures intercepted, mineralized sheeted veins in dikes and related breccias. In short, this will provide a detailed overview of this region and will also provide high value material for resource consideration that could potentially be applied to other parts of the property.
Fabled Silver Gold in the news
In line with the company’s results, Fabled Silver Gold also announced it had received approval to spin out its British Columbia copper exploration assets by distributing the shares it holds in Fabled Copper Corp. to shareholders of the company.
Once the company receives court approval, the completed arrangement will be subject to final approval of theTSX Venture Exchange, the filing and receipt of a final prospectus from Fabled Copper and approval from the Canadian Securities Exchange for listing Fabled Copper shares upon completion of the arrangement.
According to the release, the company expects the arrangement to close in December 2021.
The investment angle
Located roughly 19 kilometres from Santa Barbara and 39 kilometres from Parral in the state of Chihuahua, Mexico, the Santa Maria project is ideally located in a mining-friendly jurisdiction that has produced over 250 million ounces of silver.
Similarly, there are several major operators in the region, including three toll mills within a 20 kilometre distance while the company has strong community relationships in the area.
In line with the company’s strong community relationships, its team members also have years of involvement in mining and exploration development in Mexico — which means Fabled Silver Gold has what it takes to deliver results on its Santa Maria property now and in the long-term.
For more information, please visit fabledsilvergoldcorp.com.
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.