Silver Bull is working hard at increasing the resources on its Sierra Mojada in northern Mexico, as it consistently announces high grade silver and zinc results from an underground twinning drill program at the site.
The twinning drill program is expected to wrap up at the end the year, after which the company will initiate a revised NI 43-101 resource update on the Shallow Silver and Zinc Zones, scheduled for release in the first quarter of 2013.
Just today, it revealed the first batch of drill hole results from its underground campaign in the high grade zinc zone at Sierra Mojada, returning grades of more than 16% zinc. It hit 40.40 metres at 13.93% zinc in hole T12116, including 11.5 metres at 21.93% zinc.
The results form part of a 5,000 metre drill program underway at Sierra Mojada, with two underground rigs twinning a historical long hole data set along a high grade silver zone and an underlying and adjacent high grade zinc zone, both with a defined strike of 1.5 kilometres and located at the eastern end of the Shallow Silver Zone.
The aim of the campaign is to increase confidence in the historical long hole data set, which represents 38,000 metres of drilling that was either "severely restricted" or discarded in the company's latest NI 43-101 resource report on the Shallow Silver zone in July.
Recent high grade silver results include 15.05 metres of at 463.55 grams per tonne (g/t) silver, including 3.1 metres at 1,654.92 g/t silver in hole T12090.
The company also recently reported what it called "exceptional" preliminary metallurgical results on the silver and zinc mineralization at Sierra Mojada.
Aside from the Mexico project, the silver and zinc explorer has further upside potential from 2 mineral licenses in Gabon, Central Africa, which are prospective for gold, manganese, and iron ore.
Our second presenter International Tower Hill Mines is looking to quickly develop its Livengood gold project in Alaska, today announcing gold recoveries as high as 88 per cent from the property.
A feasibility study for the project is on track for release in the first half of next year. The company said today that metallurgical studies have shown that gold recovery for the four main rock types that make up the majority of the Livengood gold resource, using gravity/whole ore Carbon-in-Leach (CIL) recovery, will range between 77 and 88 per cent.
At the end of last month, the company updated shareholders on its progress at Livengood, noting that next year, it will focus on determining the most cost effective and feasible development path for the project, which has 933 million tonnes of measured and indicated resources at an average grade of 0.55 grams per tonne (g/t) gold, for 16.5 million contained ounces, at a 0.22 g/t gold cut off.
The company will also look to outline a staged funding strategy for the asset's development, and will implement an "aggressive" permitting path for the plan.
Key milestones for Livengood that have been outlined for a target of mid next year include major site engineering and environmental work, which is already largely complete.
The company has also made key land acquisitions as well as infrastructure and logistical assessments for integration into different development scenarios, and has made initial contacts for potential project financing.
"The exceptionally large and strategically located Livengood gold deposit has a spectrum of development opportunities and ITH is focused on optimizing those opportunities to meet the challenges of today's market," said president and CEO, Donald C. Ewigleben, in November after his initial two months on the job.
Ewigleben served as the chairman of the board since November 2011 and was involved during the early stages of Livengood's exploration and development in the 1990s.
International Tower Hill has noted that it not only offers "unprecedented leverage to gold", trading at around $13 per contained measured and indicated ounce in late November, but the project is also located in one of the most stable mining regions in the world.
DATE: Thursday 13th December
TIME: 1.15pm arrival for a 1:30pm start
VENUE: Metropolitan Hotel Vancouver - 645 Howe Street, 2nd Floor
ROOM: Vancouver Room
OTHER: Complimentary wine & canape reception
The presentations will start at 1:30pm and finish at 3:00pm. After the presentations are complete, the directors will also be available to take questions during a complimentary canapé and wine reception.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
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