CMX Plans Drilling at Clayton Property in Idaho Amid Positive Silver Market Outlook

CMX Gold & Silver (CSE:CXC,OTC Pink:CXXMF) completed a 2022 claims staking program at its 100 percent owned Clayton silver property in Idaho, US, adding approximately 450 acres to its landholdings. The property, according to President and CEO Jan Alston, is a historic silver mine that was never mined out and holds significant potential.

“We've been very patient, because the commodity cycle has been sort of long and drawn out on the downside,” Alston said. "But we are really excited now because we can see that all the pieces are falling into place for, I think, a very positive environment for all commodities, especially metals. This is a silver mine. So I've been really keen on the dynamics of the silver markets."

The staking added significant prospective acreage to the company's silver-lead-zinc project, bringing the total claims to 1,134 acres, a 66 percent increase in the area covered. For Alston, the expansion supports the company’s objective to move the project forward in a bigger way because the deposits in the area might be parallel to the ones that were mined in the old days.

“Adding to the land around ties into our view that this property was never really explored," he said. "There was a little bit (of exploration drilling) back in the '60s, which actually found high-grade intersections several hundred feet below the mine workings, and it's still there waiting for us. We want to get in there and start to drill around the known orebodies that weren't mined out, which should be pretty low risk, and then just sort of expand from there.”

Alston said CMX took 3,000 kilograms of samples from a stockpile of at least 1 million metric tons of unprocessed rock from the property, which came up with 0.8 grams per metric ton gold. In 2022, the company also shipped 536 kilograms of samples to Sydney, Australia, for testing in TOMRA's ore-sorting laboratory facility.

“Once we have (the stockpile test results), then we'll get a picture of the timing, and we can start to develop some sense of the cash flow that we can get from that stockpile. But the real long-term win for our shareholders will come from drilling and proving up substantial resources around the old mine and the old orebodies.”

Watch the full interview with CMX Gold & Silver President and CEO Jan Alston above.