- CMX Gold & Silver is an exploration and development mining company focused on revitalizing a past-producing mine to benefit from known mineralization and existing infrastructure.
- The Clayton Silver Project has historically produced over two million tonnes of ore, and a stockpile of up to 1 million tonnes of rock remains on the property.
- Sulphide Remediation Inc. has been contracted by CMX to process Clayton Silver Mine’s stockpile, allowing the company to generate cash flow in the short-term.
- The previous miners operated for 50 years and followed a main vein system, which was sufficient for their goals. However, CMX believes other vein systems are present that will create additional opportunities, including on the newly staked lands.
- A strong management team with decades of experience in the mining industry builds confidence for the project and the team’s ability to capitalize on the flagship asset.
Exploring undeveloped land with the hopes of striking gold is a time-honored mining tradition, but it’s not the only way to create a profitable project. Restarting past-producing mines allows companies to start with proven mineralization, explore stockpile potential and utilize the existing infrastructure. Stockpiles create a fast track to cash flow, as the previous miners may have had different criteria based on the economics of their time. For example, gold mines often stockpiled gold under a specific grade as it was not economically feasible, but given current prices and modern processing technology, it’s now worth processing the stockpiled gold and silver.
Restarting a past-producing mine begins by selecting the proper jurisdiction. Idaho, for instance, has mining-friendly policies that include tax incentives to create rural jobs. The gold rush of the 1800s led to the creation of the state and the famous Silver City, which was founded near prolific silver and gold deposits. Mining policies in Idaho are focused on enabling ease of mining operations, both procedurally and practically.
CMX Gold & Silver (CSE:CXC,OTC:CXXMF) is an exploration and development mining company, focused on Idaho's historic gold and silver assets. The company’s flagship project, the Clayton Silver Mine, is a past-producing asset that operated for 50 years and historically mined over two million tonnes of ore. The ore was never mined out. Mineralization remains open to the north, south and to depth. Very little historical drilling was carried out to confirm more resources. One hole drilled in the 1960s intersected high grades of 4 oz Ag/t, 5.37 percent zinc and 5.75 percent lead across 22 feet at a depth of 1,425 feet. Recent staking of new lands surrounding the patented claims increased the company’s land position by two-thirds to 1,134 acres, adding both value and potential to the project.The Clayton silver project also has a stockpile of potentially up to 1 million tonnes of unprocessed material. The company has a strong capital structure with no legacy or sweat equity debt, and the project has no royalties. CMX has contracted Sulphide Remediation Inc, to process Clayton Silver Mine’s stockpile, which would generate cash flow. Sulphide Remediation has conducted sampling of the stockpile rock and ore-sorting test results are pending.