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Channel Sampling at New Departure Silver Mine
Black Mountain Resources Limited (LSE:BMZ), a silver focused development company with interests in the US, has issued an update on its New Departure Silver Mine in Montana.
In the last week, approximately 118 channel samples (varying from 30cm to 2m) have been taken from the New Departure mine, 48 from the Blue Dot Level, where samples last year returned high silver grades up to 5,194g/t. These new samples, which are being collected in line with the Company’s strategy to complete its 3-D mine model, have been shipped to a laboratory in Nevada with results expected in the coming weeks.
Encouragingly, the Company’s lead geologist at New Departure was able to identify some clear sulphides on the main haulage level, and was also encouraged by the samples taken from the Blue Dot Level. The Blue Dot Level will access both the Bonanza Zone and Main Zone historical mining blocks at New Departure and will form a key part of production from the mine moving forward.
Black Mountain Chairman, Pete Landau, said:
“Activity is increasing at New Departure as we tick off the remaining milestones prior to commencing production at our first of two high grade silver mines in the US. The only outstanding operational hurdles are the receipt of further results from metallurgical testwork and the confirmation of the toll treat agreement with a local mill. The results of these channel samples will further solidify our mine planning in the coming weeks and, upon the finalisation of additional financing, we will be in a strong position to put our high grade, low cost production model into gear with a view to creating significant value for shareholders. We are pleased to see the recent upticks in precious metal prices and believe that investor interest is returning to the sector. We feel we are in a strong position in an upcoming renewed positive precious metals cycle.”
