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Highlights include 9.13 meters (not true thickness) grading 6.1 percent copper, 5 percent zinc, 8.2 g/t gold and 112 g/t silver starting at a depth of 558 meters.
Drill Tracker Weekly is not exclusive to Resource Investing News and is published with permission from Mackie Research Capital Corporation. It highlights drilling results in context with our database of over 10,000 drilling and trenching results. The purpose of this report is to highlight drilling and trenching results that stand out from the pack and compare them to their peer group. This report does not constitute initiation of coverage or a recommendation.
Solvista Gold (TSXV:SVV)
Price: $0.04
Market cap:Â $4.3 million
Cash estimate: $3.5 million
Project:Â Talbot
Country: Canada
Ownership: 100Â percent
Reserves: Historic (non 43-101) — 1.43 MT @ 3.4% Cu, 2.9% Zn, 1.9% g/t Au, 58 g/t Ag
Project status:Â Confirming old drilling
- Solvista Gold announced the first drilling results into the high-grade core of the historic Talbot deposit in the Snow lake region in Manitoba. The Company may earn a 51% interest in the project from HudBay (TSX:HBM) by sending $6.12 million over six years.
- Highlights from the current drilling include 9.13 metres (not true thickness) grading 6.1% Cu, 5.0% Zn, 8.2 g/t Au and 112 g/t Ag starting at a depth of 558 metres including 3.8 metres of 5.9% Cu, 5.8% Zn, 16.6 g/t Au and 135 g/t Ag.
- The Company intends to continue confirmation and exploration drilling in the main lens to update the historical resource to a 43-101 compliant resource. Although the Company states that the resource completed by Hudbay in 2009 was done to CIM standards, it is not considered 43-101 compliant as it did not include new drilling and was not a public document. The resource used a 4% Zn equivalent cut-off grade using $2.00 Cu, $700 Au, $0.85 Zn and $12 Ag.
- Solivita has options on four small deposits in the Snow Lake region with Hudbay including the Rail and Lon deposits, the Tower Deposit and the Talbot deposit. The total non 43-101 resource at Talbot is 1.43 million tonnes grading 3.4% Cu, 2.9% Zn, 1.9 g/t Au and 58.4 g/t Ag.
- Solvista recently announced that IAMGOLD (TSX:IMG) terminated its option on the Company’s Caramanta copper-gold porphyry project in Colombia due to difficulties obtaining drilling permits from the government after they signed an agreement in 2013.
Exploration history: explored
Current drilling: 9.13 metres @ 6.1% Cu, 5.0% Zn, 8.2 g/t Au, 112.1 g/t Ag including 3.8 metres @ 5.9% Cu, 5.8% Zn, 16.6 g/t Au, 135.6 g/t Ag
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Risk Analysis
Data contained in DRILL TRACKER WEEKLY is based on early stage exploration activity. The results are obtained at the very early stages of exploration and therefore, individual results may not be reproducible with additional trenching or drilling, nor may the results ultimately lead to the discovery of an economic deposit. Delineation of a resource body requires an extensive data gathering exercise according to guidelines set out in National Instrument 43-101 before investors can be reliably assured of a competent body of mineralization that may be of economic interest. DRILL TRACKER WEEKLY is designed to highlight individual trench or drill results, which stand out as being materially anomalous and are particularly worth of note – a type of early warning flag for a particular property that warrants further attention. Hence, DRILL TRACKER WEEKLY does not provide a recommendation to buy, sell or hold a specific equity – it is an information reference source to help quantify the meaning and relevance of early stage exploration results.
Relevant Disclosures Applicable to: Drill Tracker Weekly
- The research analyst or a member of the research analyst’s household owns and/or has options to acquire shares of the subject issuer. At the date of this release the author, Wayne Hewgill, owns shares in the following companies in this report. Fission Uranium (TSXV.FCU)
Analyst Certification
I, Wayne Hewgill certify that the information in this report is sourced through public documents that are believed to be reliable but accuracy and completeness as represented in this report cannot be guaranteed. The author has not received payment from any of the companies covered in this report. This report makes no recommendations to buy, sell or hold. Each analyst of Mackie Research Capital Corporation whose name appears in this report hereby certifies that (i) the recommendations and opinions expressed in this research report accurately reflect the analyst’s personal views and (ii) no part of the research analyst’s compensation was or will be directly or indirectly related to the specific conclusions or recommendations expressed in this research report.