Old Silver Mine Sees RevivalWed, 10/17/2018 - 17:17
Junior exploration companies can find it difficult to thrive in the Mexican mining market, a risky business where getting the right funding is the ultimate goal. Nevertheless, those that overcome this issue can lead by example. Kootenay Silver, a Canadian-Mexican company that owns some of the largest junior bases in the country, including La Cigarra, Promontorio and La Negra, is among those examples. While some companies might feel confident with simply owning these assets, Kootenay Silver continues to explore new developments. This strategy paid off with the discovery of high-grade silver at the Columba mine.
Located in the state of Chihuahua, this asset was briefly operated in the early 1900s, just before the Mexican Revolution erupted. The property encompasses a large, classic high-grade epithermal system containing numerous veins of lengths up to 2km. The channel found in these veins is equally impressive as it holds returning widths from 0.5m to 6m and grades up to 692gpt of silver.
Columba also hosts two extensive sets of underground infrastructure. On the surface, there are four old shafts, with one reported to reach depths up to 200m. It also holds six development drifts covering lengths of 1,000m. Given the initial work done at this asset, some small-scale mining took place in the mid-1900s with an estimated result between 70,000 and 100,000 tons of silver. Some historical records indicate a major potential for the discovery of new high-grade deposits. For instance, samples taken at a depth of 100m found silver values of 350gpt. Nevertheless, recent drillings indicate there is no evidence that Columba was previously explored in modern times.
The company started drilling work in early 2019 and it is already off to a great start. Results derived from the first 10 drilled holes indicate high-grade silver mineralization. Additionally, nine out of these 10 holes have successfully encountered good widths of quartz, quartz-calcite and breccia. Furthermore, the drilling program has tested the “F” vein, that goes along 400m of the strike and has a depth of 260m vertically below the surface. In 3Q19, the company completed the drilling of 24 holes, with pending results from 14 of them.