- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Silver Tiger Announces PFS With NPV of US$222M for the Stockwork Zone of the El Tigre Silver-Gold Project, Sonora, Mexico
Silver Tiger Metals Inc. (TSXV:SLVR)(OTCQX:SLVTF) ("Silver Tiger" or the "Corporation") is pleased to announce a Preliminary Feasibility Study ("PFS") for its 100% owned, silver-gold El Tigre Project (the "Project" or "El Tigre") located in Sonora, Mexico. The PFS is focused on the conventional open pit mining economics of the Stockwork Mineralization Zone defined in the updated Mineral Resource Estimate ("MRE") (Figure 1). The updated MRE also contains an Out-of-Pit Mineral Resource that Silver Tiger plans to study in a Preliminary Economic Assessment in H1-2025.
Highlights of the PFS are as follows (all figures in US dollars unless otherwise stated):
- After-Tax net present value ("NPV") (using a discount rate of 5%) of US$222 million with an After-Tax IRR of 40.0% and Payback Period of 2.0 years (Base Case);
- 10-year mine life recovering a total of 43 million payable silver equivalent ounces ("AgEq") or 510 thousand payable gold equivalent ounces ("AuEq"), consisting of 9 million silver ounces and 408 thousand gold ounces;
- Total Project undiscounted after-tax cash flow of US$318 million;
- Initial capital costs of $86.8 million, which includes $9.3 million of contingency costs, over an expected 18-month build, expansion capital of $20.1 million in year 3 and sustaining capital costs of $6.2 million over the life of mine ("LOM");
- Average LOM operating cash costs of $973/oz AuEq, and all in sustaining costs ("AISC") of $1,214/oz AuEq or Average LOM operating cash costs of $12/oz AgEq, and all in sustaining costs ("AISC") of $14/oz AgEq;
- Average annual production of approximately 4.8 million AgEq oz or 56.7 thousand AuEq oz; and
- Three (3) years of production in the Proven category in the Phase 1 Starter Pit.
Glenn Jessome, President & CEO stated "We are very pleased with the work completed by our consultants and our technical team on the PFS for the open pit at El Tigre. The open pit delivers robust economics with an NPV of US$222 million, an initial capital expenditure of US$87 million, and a payback of 2 years with 3 years of production in the Proven category in the ‘Starter Pit using metal prices greatly discounted to the spot price." Mr. Jessome continued "This is a pivotal point for our Company as we now have a clear path forward to making a construction decision for the open pit. The open pit has good grade (48 g/t AgEq), low strip ratio (1.7:1), and wide benches (~150 m) with mineralization at surface. With such positive parameters and with our VP of Operations Francisco Albelais, a career expert in the construction of large heap leach mines in Mexico, we are confident we will be able to advance the Project very quickly." Mr. Jessome concluded "The open pit is only one component of El Tigre as we have also today delivered over 113 Mozs AgEq in the underground Mineral Resource Estimate and disclosed an Exploration Target establishing 10 to 12 million tonnes at 225 to 265 g/t AgEq for 73 to 100 Moz AgEq. This disclosed ‘near-mine' Mineral Resource and potential, when coupled with the fact that only 30% of this prolific Property has been explored, shows the value of the El Tigre Project. The Company will also continue to work on this substantial underground Mineral Resource by starting underground drilling immediately, and plan to release an underground PEA in H1-2025."
Highlights of the updated Mineral Resource
- Increased confidence in MRE, with increase of 132% in Total Measured & Indicated Silver Equivalent ("AgEq") Ounces from September 2023 MRE, with 59% increase in Measured & Indicated AgEq grade;
- Total Measured & Indicated Mineral Resource of 200 Moz AgEq grading 92 g/t AgEq contained in 68.0 million tonnes ("Mt");
- Inferred Mineral Resource of 84 Moz AgEq grading 180 g/t AgEq contained in 14.5 Mt; and
- Inclusion of Out-of-Pit Mineral Resource of 5.3 Mt Measured & Indicated Mineral Resource at grade of 255 g/t AgEq and 10.1 Mt Inferred Mineral Resource grading 216 g/t AgEq.
Preliminary Feasibility Summary
The PFS was prepared by independent consultants P&E Mining Consultants Inc. ("P&E"), with metallurgical test work completed by McClelland Laboratories, Inc. - Sparks, Nevada, process plant design and costing by D.E.N.M. Engineering Ltd., and environmental and permitting led by CIMA Mexico. Following are tables and figures showing key assumptions, results, and sensitivities.
Table 1: El Tigre PFS Key Economic Assumptions and Results
- Grades shown are LOM average process plant feed grades include only OP sources. Mining losses and external dilution of 3.7% were incorporated in the mining schedule.
- Column testing indicated both variable gold and silver recovery for the oxide material vs the previously reported non-discounted PEA (83% and 64%) at a 3/8-in crush size. In the process design and financial model for the PFS process design and financial model recoveries have been discounted by 3% for leaching in the field versus optimum conditions in the laboratory and shown accordingly. The presence of transition and sulfide zones has affected both the gold and silver recoveries and are shown as separate recoveries. These are reasonable and appropriate for use in this PFS design and economic analysis.
Figure 2: El Tigre Cash Flow Profile by Year
Figure 2 above highlights the post-tax cash flows of US$318 million associated with the El Tigre Project. The economics of the Project have been evaluated based on the base case scenario $26/oz silver price and gold price of $2,150/oz. As illustrated in the following sensitivity tables, the Project remains robust even at lower commodity prices or with higher costs (Tables 2 and 3).
Table 2 - El Tigre PFS Gold and Silver Price Sensitivities
Table 3 - El Tigre PFS Operating Cost and Capital Cost Sensitivities
Capital and Operating Costs
The El Tigre Project has been envisioned as an open pit mining operation starting at a processing rate of 7,500 tonnes per day for years 1-3 and then ramping up to 15,000 tonnes per day by year 4 after 1 year construction for ramp up in year 3.
The process plant is comprised of conventional three (3) stage crushing to an optimum -3/8 inch (10 mm) crush size. The crushed material will be conveyed and loaded on the lined pad areas. A series of pumping and piping will allow irrigation of the stacked heap material and subsequent production of pregnant solution to flow to the respective impoundment pond. The pregnant solution will be pumped to the recovery facility consisting of the Merrill - Crowe process (zinc precipitation) and refinery to produce the gold and silver dore for marketing. The process barren solution will be recycled (with NaCN addition) and pumped back to the heap for further leaching. The process plant location will be adjacent to the pad and pond infrastructure area.
Water supply to the process plant is provided by pumping from nearby Bavispe River to the process area water distribution system and high voltage grid power will be installed by the local utility to supply process and infrastructure electrical requirements. Expansion capital includes the cost to increase the process plant capacity from 7,500 tonnes per day to 15,000 tonnes per day as noted in Year 4 of operation.
Table 4 - LOM Capital Cost Estimate
Mining
Open pit mining will be contracted and carried out by drill and blast followed by conventional loading and truck haulage to the waste rock storage facilities and the process plant.
Metallurgy
A detailed metallurgical test program was carried out by McClelland Laboratories, Inc., Sparks, Nevada on six (6) El Tigre starter pit samples. The program included crushing, coarse bottle rolls, and column testing at both 80% passing 3/8 inch and 1/2 inch (10 and 12 mm) crush size for five (5) of the six samples. One low grade sample was only crushed to 80% passing 1-1/2 inch (38 mm) as an indication of low grade leachability. The leach samples comprised of drill core sample representing the starter pit and during the testing process it became apparent that the presence of transition and sulfide zones are in the starter pit thus affecting the base design recoveries. This variable test program (column and coarse bottle roll) estimated oxide average gold and silver respective metallurgical recoveries of 86% Au and 48% Ag at the 3/8 inch (10 mm) crush. The transition and sulfide zones had estimated recoveries of 59% Au and 43% Ag. Further percolation testing also confirmed no requirement for agglomeration of the crushed material is required prior to loading on the leach pad.
Mineral Resource Estimate
The basis for the PFS is the Mineral Resource Estimate completed by P&E for the El Tigre Project located in Sonora State, Mexico, which has an effective date of October 22, 2024, with an NI 43-101 Technical Report to be filed within 45 days of this news release. A summary of the Mineral Resource Estimate is provided in Table 5.
Table 5 - Updated Mineral Resource Estimate October 2024
- Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
- The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
- The Mineral Resources were estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
- Historically mined areas were depleted from the Mineral Resource model.
- Prices used are US$2,000/oz Au, US$25/oz Ag, US$4.00/lb Cu, US$0.95 lb Pb and US$1.25/lb Zn.
- The pit-constrained AuEq respective oxide and sulfide cut-off grades of 0.10 and 0.15 g/t were derived from 40% Ag and 83% Au oxide process recovery, 40% Ag and 56% Au sulfide process recovery, US$5.25/tonne process and G&A cost. The constraining pit optimization parameters were $2.00/t mining cost and 45-degree pit slopes. Regarding recoveries, the PFS recovery for Ag in oxide material was increased to 45% after a more detailed study was complete after the MRE was finalized.
- The out-of-pit AuEq cut-off grade of 1.50 g/t was derived 93% Ag and 89% Au process recovery, US$28/tonne process and G&A cost, and a $60/tonne mining cost. The out-of-pit Mineral Resource grade blocks were quantified above the 1.50 g/t AuEq cut-off, below the constraining pit shell and within the constraining mineralized wireframes. Out-of-Pit Mineral Resources are restricted to the El Tigre Main Veins, which exhibit historical continuity and reasonable potential for extraction by cut and fill and long hole mining methods.
- The Low-Grade Stockpile AuEq cut-off grade of 0.54 g/t was derived from 85% Ag and 85% Au recovery US$28/tonne process and G&A cost, and a $2/tonne mining cost.
- The Tailings AuEq cut-off grade of 0.55 g/t was derived from 82% Ag and 83% Au process recovery, US$28.72/tonne process and G&A cost.
- AgEq and AuEq were calculated at an Ag/Au ratio of 166:1 (oxide) and 122:1 (sulfide) for pit-constrained Mineral Resources.
- AgEq and AuEq were calculated at an Ag/Au ratio of 77:1 for out-of-pit Mineral Resources.
- AgEq and AuEq were calculated at an Ag/Au ratio of 80:1 for Low-Grade Stockpile Mineral Resources.
- AgEq and AuEq were calculated at an Ag/Au ratio of 79:1 for Tailings Mineral Resources
- Totals may not sum due to rounding.
Mineral Resource Estimate Methodology - El Tigre Project
The El Tigre Project includes the El Tigre Veins, El Tigre Tailings and the El Tigre Low-Grade Stockpile.
The databases used for this Mineral Resource update contain a total of 20,149 collar records that contribute directly to the Mineral Resource Estimate and includes collar, survey, assay, lithology and bulk density data. Assay data includes Au g/t, Ag g/t, Cu %, Pb % and Zn % grades. The drilling extends approximately five km along strike.
P&E Mining Consultants Inc. ("P&E") collaborated with Silver Tiger personnel to develop the mineralization models, grade estimates, and reporting criteria for the Mineral Resources at El Tigre. Mineralized domains were initially developed by Silver Tiger and were reviewed and modified by P&E. A total of twenty-seven individual mineralized domains have been identified through drilling and surface sampling. Interpreted mineralization wireframes were developed by Silver Tiger geologists for the El Tigre Veins based on logged drill hole lithology, assay grades and historical records. Silver Tiger identified continuous zones of mineralization from assay grades equal to or greater than 0.30 g/t AuEq with observed continuity along strike and down-dip, using a calculated Ag:Au equivalent factor of 75:1. The selected intervals include lower grade material where necessary to maintain wireframe continuity between drill holes.
P&E developed mineralized domains for the El Tigre Low-Grade Stockpile and the El Tigre Tailings based on lithological logging and LiDAR surface topography.
Assay samples were composited to either 1.00 m or 1.50 m for the vein domains. No compositing was used for the Low-Grade Stockpiles and Tailings models. Composites were capped prior to grade estimation based on the analysis of individual composite log-probability distributions.
A total of 5,542 bulk density values were taken by Silver Tiger from drill hole core. Mineralized bulk density values were assigned for each of the El Tigre Main Veins based on the median vein measurement. For the El Tigre North Veins, a bulk density of 2.65 t/m 3 was assigned for the veins and a value of 2.42 t/m 3 was assigned for the Protectora Halo. For the Low-Grade Stockpile a value of 1.60 t/m 3 was assigned, and for the Tailings a value of 1.39 t/m 3 was used based on 37 nuclear density measurements.
Vein block grades for gold and silver were estimated by Inverse Distance Cubed ("ID3") interpolation of capped composites using a minimum of four and a maximum of twelve composites. Vein block grades for copper, lead and zinc were estimated by Inverse Distance Squared ("ID2") interpolation of capped composites using a minimum of four and a maximum of twelve composites.
Nearest-Neighbour grade interpolation was used for the Low-Grade Stockpiles, and for the Tailings, block grades were estimated by ID2 estimation of capped assays using a minimum of four and a maximum of twelve samples.
For the El Tigre Main Veins, blocks within 30 m of three or more drill holes/channels were classified as Measured Mineral Resources, and blocks within 60 m of three or more drill holes/channels were classified as Indicated Mineral Resources. All additional estimated blocks were classified as Inferred Mineral Resources.
For the North Veins, blocks interpolated by at least two drill holes within 50 m were classified as Indicated Mineral Resources. Blocks interpolated by at least one drill hole within a maximum distance of 200 m were classified as Inferred Mineral Resources.
For the Low-Grade Stockpiles, blocks within 15 m of two or more drill holes were classified as Indicated Mineral Resources. All additional estimated blocks were classified as Inferred Mineral Resources.
For the Tailings, blocks within 30 m of three or more auger or core drill holes were classified as Measured Mineral Resources. Blocks within 60 m of two or more auger/drill holes/pits or trenches were classified as Indicated Mineral Resources. All additional estimated blocks were classified as Inferred Mineral Resources.
P&E considers that the block model Mineral Resource Estimates and Mineral Resource classification represent a reasonable estimation of the global mineral resources for the El Tigre Project with regard to compliance with generally accepted industry standards and guidelines, the methodology used for estimation, the classification criteria used and the actual implementation of the methodology in terms of Mineral Resource estimation and reporting. The Mineral Resources have been estimated in conformity with the requirements of the CIM "Estimation of Mineral Resource and Mineral Reserves Best Practices" guidelines as required by the Canadian Securities Administrators' National Instrument 43-101. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
Table 6: AuEq Cut-off Sensitivities - ET Pit-Constrained Mineral Resource
Table 7: AuEq Cut-off Sensitivities - ET Out-of-Pit Mineral Resource
Exploration Potential
Exploration potential at the El Tigre Project is substantial with prospective areas for exploration both down dip and along strike with the disclosed Exploration Target establishing 10 to 12 million tonnes at 225 to 265 g/t AgEq for 73 to 100 Moz AgEq.
Figure 3-Exploration Potential released October 2024
Surface Rights Agreement
The Company owns royalty-free, 100% of the 6,238 hectares land-package encompassing the footprint of proposed mining operation with no Ejido presence. In addition, the Company controls 28,414 hectares of Concessions to conduct exploration along a 25 km strike length of the Sierra Madres.
Underground Preliminary Economic Assessment
The Company will also continue to work on this substantial, permitted underground Mineral Resource Estimate and advance this towards a Preliminary Economic Assessment by H1-2025. The Measured and Indicated Out-of-Pit Mineral Resource at El Tigre is 44 Moz AgEq grading 255 g/t AgEq contained in 5.3 Mt and the Inferred Mineral Resource is 70 Moz AgEq grading 216 g/t AgEq contained in 10.1 Mt.
Qualified Persons
Mineral Resource Estimate: Dave Duncan P. Geo. VP Exploration of Silver Tiger, Charles Spath P.Geo., VP of Technical Services of Silver Tiger, and Fred Brown, P.Geo RM-SME Senior Associate Geologist of P&E Mining Consultants, and Eugene Puritch, P.Eng., FEC, CET, President of P&E Mining Consultants are the Qualified Persons as defined under National Instrument 43-101. All Qualified Persons have reviewed and approved the scientific and technical information in this press release.
Preliminary Feasibility Study: Andrew Bradfield P. Eng of P&E Mining Consultants, Eugene Puritch, P.Eng., FEC, CET, President of P&E Mining Consultants and David J. Salari, P. Eng. of D.E.N.M. Engineering Ltd are the Qualified Persons as defined under National Instrument 43-101. All Qualified Persons have reviewed and approved the scientific and technical information in this press release.
A Technical Report is being prepared on the Preliminary Feasibility Study in accordance with National Instrument 43-101 ("NI-43-101"), and will be available on the Company's website and SEDAR within 45 days of the date of this news release. The effective date of this Preliminary Feasibility Study is October 22, 2024.
VRIFY Slide Deck and 3D Presentation - Silver Tiger's El Tigre Project
VRIFY is a platform being used by companies to communicate with investors using 360° virtual tours of remote mining assets, 3D models and interactive presentations. VRIFY can be accessed by website and with the VRIFY iOS and Android apps.
Access the Silver Tiger Metals Inc. Company Profile on VRIFY at: https://vrify.com
The VRIFY Slide Deck and 3D Presentation for Silver Tiger Metals Inc. can be viewed at: https://vrify.com/explore/decks/492 and on the Corporation's website at: www.silvertigermetals.com.
About Silver Tiger and the El Tigre Historic Mine District
Silver Tiger Metals Inc. is a Canadian company whose management has more than 25 years' experience discovering, financing and building large epithermal silver projects in Mexico. Silver Tiger's 100% owned 28,414 hectare Historic El Tigre Mining District is located in Sonora, Mexico. Principled environmental, social and governance practices are core priorities at Silver Tiger.
The El Tigre historic mine district is located in Sonora, Mexico and lies at the northern end of the Sierra Madre silver and gold belt which hosts many epithermal silver and gold deposits, including Dolores, Santa Elena and Las Chispas at the northern end. In 1896, gold was first discovered on the property in the Gold Hill area and mining started with the Brown Shaft in 1903. The focus soon changed to mining high-grade silver veins in the area with production coming from 3 parallel veins the El Tigre Vein, the Seitz Kelley Vein and the Sooy Vein. Underground mining on the middle El Tigre Vein extended 1,450 metres along strike and was mined on 14 levels to a depth of approximately 450 metres. The Seitz Kelley Vein was mined along strike for 1 kilometre to a depth of approximately 200 metres. The Sooy Vein was only mined along strike for 250 metres to a depth of approximately 150 metres. Mining abruptly stopped on all 3 of these veins when the price of silver collapsed to less than 20¢ per ounce with the onset of the Great Depression. By the time the mine closed in 1930, it is reported to have produced a total of 353,000 ounces of gold and 67.4 million ounces of silver from 1.87 million tons (Craig, 2012). The average grade mined during this period was over 2 kilograms silver equivalent per ton.
For further information, please contact:
Glenn Jessome
President and CEO
902 492 0298
jessome@silvertigermetals.com
CAUTIONARY STATEMENT:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This News Release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, Mineral Resources and Reserves, the ability to convert Inferred Mineral Resources to Indicated Mineral Resources, the ability to complete future drilling programs and infill sampling, the ability to extend Mineral Resource blocks, the similarity of mineralization at El Tigre to Delores, Santa Elena and Chispas, exploration results, and future plans and objectives of Silver Tiger, are forward-looking statements that involve various risks and uncertainties. Forward-looking statements are frequently characterized by words such as "may", "is expected to", "anticipates", "estimates", "intends", "plans", "projection", "could", "vision", "goals", "objective" and "outlook" and other similar words. Although Silver Tiger believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Silver Tiger's expectations include risks and uncertainties related to exploration, development, operations, commodity prices and global financial volatility, risk and uncertainties of operating in a foreign jurisdiction as well as additional risks described from time to time in the filings made by Silver Tiger with securities regulators.
September 2024 Quarterly Activities Report
New targets identified at Browns Reef, the commencement of drilling, and co-funding grant awarded for IP survey at Arunta
Eastern Metals Limited (ASX: EMS) (“Eastern Metals” or “the Company”) is pleased to present its Quarterly Report for the period ending 30 September 2024.
HIGHLIGHTS
Cobar Project, NSW
- Reverse Circulation (RC) drilling completed to test the new, high priority ‘Kelpie Hill’ and ‘Windmill Dam’ targets at the Cobar Project.
- Diamond tails completed on two RC holes, one each at Kelpie Hill and Windmill Dam.
- Diamond hole at Evergreen completed to test for an extension of the mineralisation along strike to the north.
- Planning underway for an Induced Polarisation (IP) survey to ‘see through’ the younger Tertiary basalt cover, potentially highlighting new target areas for drilling.
Arunta Project, NT
- Induced Polarisation (IP) survey completed at the Arunta Project to generate drill targets along strike from the existing Home of Bullion deposit.
- The area offers strong potential for the discovery of additional high-grade, structurally controlled Volcanogenic Massive Sulphide-style lodes along a magnetic high trend.
- Results from the IP survey will assist with prioritising targets for future drilling.
- Survey supported by a co-funding grant for up to $100,000 through the NT’s Geophysics and Drilling Collaborations Program, Round 17, under the ‘Innovative Targeting’ category.
- Eastern Metals was successful in its application for the Australian Government's Junior Minerals Exploration Incentive scheme, receiving an allocation of $910,750 in refundable tax offsets and franking credits that are available for potential distribution to Eligible Shareholders for the 2024-25 income tax year.
Eastern Metals CEO, Ley Kingdom, said: “The September Quarter has been a busy period for Eastern Metals, with exploration programs underway at both our Cobar Project in NSW and Arunta Project in the Northern Territory.
“RC drilling at the Cobar Project commenced in early August, initially targeting the new Kelpie Hill and Windmill Dam targets, both of which lie along the highly prospective Woorara Fault and returned strongly anomalous copper, lead, zinc and silver results from rock chip sampling.
“Drilling at Cobar next moved to the high-grade Evergreen prospect, where previous drilling has returned intercepts including 13m @ 5.4% Zn, 2.3% Pb, 0.14% Cu, 11.5g/t Ag and 0.9g/t Au from 225m.
“At the Arunta Project, an Induced Polarisation survey commenced in mid-September, with results expected to enhance our understanding of the geologically complex Home of Bullion deposit and assess the potential for new discoveries within the Bullion Schist host rock along strike from the deposit.
“We look forward to another busy period at both Cobar and Arunta during the December 2024 Quarter.”
Click here for the full ASX Release
This article includes content from Eastern Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Spectacular High-Grade Hits Continue to Extend Mineralisation Outside Resource
Latest results to underpin the Resource update proposed for next quarter
Andean Silver Limited (ASX: ASL) is pleased to announce further spectacular drilling results which will form part of the next Resource update at its Cerro Bayo Silver-Gold Project in Chile.
- Latest drilling has delivered more bonanza-grade intersections, continuing to expand the Pegaso 7 and Cristal extensions of mineralisation at Cerro Bayo
- New drill assays from Pegaso 7 include:
- 3.2m @ 864g/t AgEq (511g/t Ag & 4.3g/t Au)
- Incl. 1.4m @ 1,871g/t AgEq (1,140g/t Ag and 8.8g/t Au)
- 5.2m @ 259g/t AgEq (115g/t Ag & 1.7g/t Au)
- Incl. 1.5m @ 582g/t AgEq (235g/t Ag & 4.2g/t Au)
- 0.4m @ 1,683g/t AgEq (1,099g/t Ag & 7.0g/t Au)
- 3.2m @ 864g/t AgEq (511g/t Ag & 4.3g/t Au)
- At Cristal, drilling has defined the target horizon of mineralisation to an ~80m vertical extent that incorporates previous bonanza-grade veins observed on surface
- New drill assays from Cristal include:
- 4.5m @ 584g/t AgEq (380g/t Ag & 2.5g/t Au)
- 2.6m @ 600g/t AgEq (120g/t Ag & 5.8g/t Au)
- 3.4m @ 478g/t AgEq (13g/t Ag & 5.6g/t Au)
- Incl. 1.2m @ 1,252g/t AgEq (27g/t Ag & 14.8g/t Au)
- Drilling also continues to define a large halo surrounding the Cristal veins with results of:
- 153.8m @ 62g/t AgEq (8g/t Ag & 0.6g/t Au)
- A third drill rig to be mobilised to site in November to begin targeting extensions of the main lodes within the Laguna Verde Mine Complex at Cerro Bayo
Andean Chief Executive Tim Laneyrie said: “These are spectacular results, not just because of the bonanza grades but also because of the significant extensions they add to the known mineralisation.
“These results also provide more evidence of the compelling exploration upside at Cerro Bayo with the mineralisation still open in so many areas and vast vein systems yet to be tested.
“Our ongoing drilling at both the Pegaso 7 and Cristal targets has yielded impressive results, further refining our geological model of the high-grade mineralisation controls. These findings not only underscore the quality of the mineralisation but also enhance our understanding of the core high-grade zones within the Pegaso 7 veining corridor.
“Similarly, our initial shallow drilling at the Cristal target, being the first in 10 years, has been equally encouraging, highlighting key lithological controls to the high-grade mineralisation currently defined over an approximately 80m vertical interval. This aligns with previous interpretations of super high- grade veins throughout the Cristal project.
“To further capitalise on this momentum, we are mobilising a third drill rig to the site in November. This will target the main lodes within the Laguna Verde Mine Complex through extensional drilling.
“This strategic expansion of our drilling program is aimed at maximising our discovery rate and driving substantial resource growth”.
Figure 1. Hole CBD164 showing mineralised intercept 4.5m @ 584g/t AgEq from 7.1m at the Cristal West structure.
Drilling and Exploration Update
The drilling at Pegaso 7 and Cristal continues to expand and refine the key mineralising controls within the broader systems. The current drill rig at Cristal has a further 1,200m of drilling planned as part of the initial scout drilling program and is targeting 40m above the previous drill fan. Pegaso 7 drilling has a further 3,500m of drilling remaining on the current program.
Cristal Prospect
The main Cristal structures have been intercepted up to 80m below the outcropping veins (Figure 2) within the prospective Temer Formation. The Cristal Prospect is interpreted to represent a highly prospective juncture of a number of major district scale structures (Figure 4) that control the mineralised orientations at the LVMC including the Coyita, Dagny, Yasna deposits and resource areas.
The current drilling at Cristal is ~40m above the previously drilled central structure. This drilling has intercepted a previous unknown part of the Cristal West structure (see Figures 1 and 3) sitting ~5m below the surface and below the historic Cristal west underground workings. This vein extension was unknown as it has been covered by a 1m thick backfill layer for >20 years.
Click here for the full ASX Release
This article includes content from Andean Silver, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
46% Antimony (Sb) & 1,022 g/t Silver Assay Results at the Mojave Project
Locksley Resources Limited (ASX:LKY) (“Locksley” or “the Company”) is pleased to announce high-grade antimony grades up to 46% Sb from the recent rock chip sampling program. Eighteen (18) rock chips returned grades in excess of 1.4% Sb with eight (8) returning grades over 17% Sb. Since mid-2023, Locksley Resources has completed four surface sampling programs, mainly focused on detecting rare earth minerals at the Mojave Project, CA, located 45 minutes from Las Vegas. The most recent surface sampling program focused on the Desert Antimony Mine and potential for high-grade antimony mineralisation to be present along strike of the historically mined mineralised structures in an east-west and north-south direction. The sampling program revealed polymetallic mineralisation along strike of the mineralised structures suggesting a zoned reduced intrusive related system (RIRS).
Highlights:
- Extremely high-grade rock chip assays up to 46% antimony received
- 8 rock chip assays returned values over 17% antimony with over 18 of the returned assays over 1.4% antimony
- High-grade antimony is represented by historic workings developed on the quartz-calcite-stibnite veins
- Drill targeting and drilling approval application being prepared for submission to the Bureau of Land Management, alongside the Plan of Operations & Environmental Assessment Plan
- Antimony is listed as a critical mineral by the U.S. Department of Interior as it is used in a wide variety of military, energy, industrial and consumer applications
- U.S. has very limited domestic mined sources of Antimony and China has restricted export of antimony
- Funding opportunities for exploration through the Department of Défense (DoD) is being investigated with the next solicitation for funding through the Défense Industrial Base Consortium (DIBC) being considered
Figure 1: Desert Antimony Mine Area
The Company is preparing drilling targets post receiving the recent high-grade antimony results and has commenced work to submit a drilling approval application to the U.S. Bureau of Land Management, which includes a comprehensive Plan of Operations and Environmental Assessment Plan. As antimony is designated a critical mineral by the U.S. Department of Interior, due to its widespread use in military, energy, industrial, and consumer sectors, domestic supply is crucial for national security and economic stability. With China recently restricting global exports, the U.S. faces a significant supply gap, highlighting the importance Locksley’s antimony asset could play if it can be commercialised. The Company is exploring funding opportunities through the Department of Defense, with particular interest in the next Defense Industrial Base Consortium (DIBC) solicitation to support the advancement of the Mojave Desert Antimony project.
Locksley Resources Limited Managing Director, Steve Woodham commented:
“The high-grade results from the follow-up sampling around the Desert Antimony Mine have exceeded expectations and highlights how well mineralised the property is, and not just for REEs. The surface strike length based on the recent high-grade results looks to be over 400m which has us very encouraged and looking forward to commencing a drill program post receiving the necessary approvals”.
We certainly look forward to sharing the outcomes of this review and unlocking value for our shareholders.”
Click here for the full ASX Release
This article includes content from Locksley Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
5 Silver Stocks With Dividends (Updated 2024)
Silver is a notoriously volatile metal capable of wide price swings in either direction.
However, the metal is also seen by many as a safe-haven investment and a hedge against inflation. While investing in silver bullion is one popular method for gaining exposure, silver-mining companies offer another route.
Silver-mining companies with strong balance sheets and experienced management teams are able to capitalize on high silver prices and weather the storm of low silver prices. Some of the most profitable silver-mining companies are even able to offer investors dividends, which may be appealing for those who are in it for the long haul.
Dividends are especially attractive in the often-unstable mining sector because they give investors a degree of security — if a company pays a dividend, it generally feels that it has the cash to do so, and believes it will have the ongoing profits it needs to keep those payments coming.
There are several dividend-paying silver stocks for investors to choose from. The companies below are ordered by dividend yield, and all data is current as of October 24, 2024.
1. Pan American Silver (TSX:PAAS,NYSE:PAAS)
TSX market cap: C$12.84 billion
NYSE market cap: US$9.19 billion
Dividend yield: 1.54 percent
Founded by Ross Beaty in 1994, Pan American Silver currently operates four primary silver mines, which are located in Mexico, Peru, Bolivia and Argentina. It also has a portfolio of gold mines that also contribute silver production.
Last year, Pan American Silver completed the successful acquisition of Yamana Gold, bringing the latter's four producing Latin American precious metals assets into Pan American's portfolio.
The company’s 2023 silver production came in at 20.4 million ounces alongside 882,900 ounces of gold. For Q1 and Q2 of this year, output reached a combined total of 9.58 million ounces of silver and 225,700 ounces of gold. Production is expected to increase in the second half of the year.
The highest dividend Pan American has ever paid is US$0.125 per share, and it was able to pay a dividend of that amount a noteworthy nine times in a row between March 18, 2013, and March 13, 2015. The silver stock paid its most recent quarterly dividend on August 30, 2024, at US$0.10 per share.
2. Fresnillo (LSE:FRES,OTC Pink:FNLPF)
LSE market cap:GBP 3.82 billion
Dividend yield: 1.11 percent
Major miner Fresnillo bills itself as the world’s leading primary silver producer and a significant gold producer. Its precious metals operations are all located in Mexico, include the Fresnillo mine, which is the largest primary silver mine in the world. It also holds a portfolio of exploration prospects in the country and silver streaming contracts.
Fresnillo's attributable output from its mines for the full 2023 year came to 53.5 million ounces of silver and 610,600 ounces of gold. The company's reported mine production for the the first three quarters of the year comes to 41 million ounces of silver and 427,631 ounces of gold.
This silver stock pays two dividends per year, and its dividend policy takes business profitability and underlying earnings growth into account, as well as capital requirements and cash flow. Dividends from the company are paid in pounds sterling unless shareholders elect to be paid in US dollars. Fresnillo paid its 2024 interim dividend of 5.0063 pence, or US$0.064, on September 17, 2024.
3. Wheaton Precious Metals (TSX:WPM,NYSE:WPM)
TSX market cap: C$42.34 billion
NYSE market cap: US$30.45 billion
Dividend yield: 0.88 percent
Wheaton Precious Metals is a well-known name in the silver space largely because of its business model — it is the world’s biggest precious metals streaming company.
Streaming companies operate differently from miners, making upfront payments to a variety of metals companies in order to gain the right to purchase all or a portion of their metal production at a low, fixed cost.
The company currently has streaming agreements in place for 18 operating mines and 27 development-stage projects. It is interested in companies operating in politically stable jurisdictions, and states that its value should rise with the price of silver and gold. As a result, Wheaton sees itself offering investors multiple benefits while reducing many of the downside risks that traditional miners face.
Wheaton has paid out a dividend US$0.15 per share three times so far in 2024, with the latest on September 4, 2024.
4. Silvercorp Metals (TSX:SVM,NYSE:SVM)
TSX market cap: C$1.43 billion
NYSE market cap: US$1.02 billion
Dividend yield: 0.52 percent
Silvercorp Metals operates the Gaocheng and Ying silver-mining operations in China, and is focused on acquiring and growing underdeveloped projects with high upside.
Its 2024 fiscal year silver equivalent production came in at approximately 6.8 million ounces, down 2 percent from the previous year. The company has reported a total of 3.4 million ounces of silver equivalent production over the first and second quarters of its fiscal year 2025.
Silvercorp offers shareholders a semiannual dividend, which it states is “based on a number of factors including commodity prices, market conditions, financial results, cash flows from operations, expected cash requirements and other relevant factors.” Its most recent dividend was paid on June 27, 2024, at a rate of US$0.0125 per share.
5. Hecla Mining (NYSE:HL)
NYSE market cap: US$4.4 billion
Dividend yield: 0.45 percent
Last on this list of silver stocks that pay dividends is Hecla Mining, the largest primary silver producer in the US and Canada and the third largest in the world. The oldest precious metals miner in North America, Hecla owns the Greens Creek and Lucky Friday silver mines in Alaska and Idaho, US, and the Keno Hill mine in the Yukon, Canada.
It also operates the Casa Berardi gold-silver mine in Québec, Canada.
With the acquisition of Alexco Resource in 2022, Hecla gained its position in the Keno Hill silver district, which has Canada's highest-grade silver reserves. The following year, Hecla acquired ATAC Resources, giving it control of the Rackla and Connaught properties in the Yukon.
Hecla reported 2023 production of 14.3 million ounces of silver and 151,259 ounces of gold. As for 2024, the company produced a combined 8.65 million ounces of silver and 74,822 ounces of gold through the first two quarters. The Keno Hill mine is currently ramping up to commercial production.
Hecla pays an annual minimum common stock dividend, distributing it on a quarterly basis. The silver stock also pays a silver-price-linked common stock dividend based on the company’s average realized silver price for the preceding quarter.
On September 5, 2024, Hecla paid out a quarterly cash dividend of $0.01375 per share of common stock ($0.00375 per share for the minimum dividend component plus $0.01 per share for the silver-linked component). Then, on September 16, it paid a quarterly cash dividend of $0.875 per share of preferred stock.
FAQs for silver dividend stocks
What are dividend stocks?
Dividend stocks regularly pay a sum of money to a class of shareholders out of the company's earnings. To qualify for a dividend payout, an investor must have owned the stock on the ex-dividend date.
Dividends are often issued as cash payments sent to a shareholder’s brokerage account, but can also be issued as stock or discounts on share purchases.
How to invest in dividend stocks?
Contact your broker to learn more about how to take advantage of companies offering dividend programs. Some dividend stocks may also offer a dividend reinvestment program, allowing shareholders to automatically buy new shares with their dividends, either commission-free or at a reduced cost.
How much do dividend stocks pay?
A company's board of directors is responsible for setting a dividend policy and will determine the size of the dividend payout based on the firm's long-term revenue outlook.
The size of an individual shareholder's dividend payout depends on the number of shares owned in that company. For example, if an investor owned 1,000 shares of Wheaton Precious Metals, which is currently paying a dividend of US$0.15 per share, they would get US$150 every quarter — or US$600 annually.
What Silver ETFs pay dividends?
There are no physical backed Silver ETFs with dividends. However, ETFs that track dividend-paying silver stocks such as those listed above may offer the potential for dividend income. A few examples of are Global X Silver Miners ETF (ARCA:SIL), and IShares MSCI Global Silver Miners ETF (BATS:SLVP).
This is an updated version of an article originally published by the Investing News Network in 2015.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Final Assay Results from Cobar Project Confirm Potential for Intrusion-Related Mineralisation
Copper anomalism confirmed at Windmill Dam, with IP survey planned to define key targets for follow-up drilling
Eastern Metals Limited (ASX: EMS) (“Eastern Metals” or “the Company”) is pleased to report final assay results from recent reconnaissance drilling at its 100%-owned Cobar Project in NSW.
- Final assay results received from reconnaissance drilling at the newly defined Windmill Dam target and the advanced Evergreen prospect within the 100%-owned Cobar Project in NSW.
- Results from Windmill Dam show broad intercepts of Cu mineralisation, with assays from hole WDRCDD001 including:
- 20m @ 0.3% Cu from 186m; and
- 30m @ 0.15% Cu from 271m.
- Assay results from hole BRD022 at Evergreen have extended the strike extent of known mineralisation by a further 50m to the NNW:
- 2.4m @ 0.6g/t Au, 5g/t Ag, 1.9% Pb and 3.7% Zn from 163.6m, including 0.5m grading at 1.47g/t Au from 164.5m.
- Latest results follow previously reported assays from the new Kelpie Hill target, where hole KHRC001 intersected significant high-grade gold plus base metal mineralisation:
- 7m @ 4.3g/t Au, 2.7g/t Ag, 0.3% Pb from 50m and 1m @ 4.17g/t Au, 2.7g/t Ag from 82m.
- Induced Polarisation (IP) survey due to commence over the Cobar Project in the coming weeks. Results from the IP survey will help define and prioritise targets for immediate, follow-up drill testing.
Hole WDRCDD001 at Windmill Dam returned broad intercepts of copper mineralisation in both the Clements and Preston formations, with 20m @ 0.3% Cu from 186m and 30m @ 0.15% Cu from 271m along with silver, lead, zinc and gold suggesting intrusion-related mineralisation.
Assay results from hole BRD022 at Evergreen returned 2.4m @ 0.6g/t Au, 5g/t Ag, 1.9% Pb and 3.7% Zn from 163.6m, including 0.5m grading at 1.47g/t Au from 164.5m. Refer to Table 1 for a summary of significant intercepts.
The Company is finalising the design of an Induced Polarisation (IP) survey, which is due to commence in the coming weeks. Results from the IP survey will help define and prioritise targets for follow-up drill testing.
Eastern Metals’ Chief Executive Officer Ley Kingdom said: “The broad intercepts of copper mineralisation at Windmill Dam provide an enticing target for follow-up exploration, suggesting the potential for an intrusion-related mineral system. Drilling has also successfully extended the mineralised footprint at the Evergreen prospect by 50m to the north-northwest.
We are now completing planning for an IP survey across the Cobar Project area to help define and prioritise targets for follow-up drilling. This will include Windmill Dam and Evergreen, as well as the high-priority Kelpie Hill target where recent drilling returned high-grade intercepts of up to 7m @ 4.3g/t Au.”
Figure 1: Location of EL6321 (Browns Reef) and the Kelpie Hill, Windmill Dam & Evergreen prospects.
Key Points
- Assays results have been received for one drillhole at the newly identified target, Windmill Dam, and one drill-hole at the advanced Evergreen prospect within the 100% owned Cobar Project in NSW.
- Drilling at Windmill Dam intersected two broad low grade copper zones of 20m @ 0.3% Cu from 186m and 30m @ 0.15% Cu from 271m down-hole.
- Alteration assemblages intersected downhole within WDRCDD001 include chlorite-carbonate and phyllic (quartz-sericite-pyrite) alteration with significant breccia associations, and stringer style vein fill and fracture-controlled chalcopyrite and Pb-Zn mineralisation. These suggest the presence of an intrusion-related heat, fluid and metal source, a mineralisation style that has not previously been described at Browns Reef despite the presence of rhyolites observed in diamond core (e.g. BRD013).
- An Induced Polarisation survey will be undertaken in the coming weeks to identify targets for further drilling.
- BRD022 extended the strike of known mineralisation at the advanced Evergreen prospect 50m to the NNW, intersecting base and precious metal mineralisation for 2.4m @ 0.6g/t Au, 5g/t Ag, 1.9% Pb, 3.7% Zn from 163.6m, including 0.5m grading at 1.47g/t Au from 164.5m.
Click here for the full ASX Release
This article includes content from Eastern Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Should You Invest in Silver Bullion? (Updated 2024)
Investing in silver bullion has pros and cons, and what’s right for one investor may not work for another.
Interest in the silver market tends to flourish whenever the silver price increases, with investors beginning to wonder if it is the right time to add physical silver to their investment portfolios.
While silver can be volatile, the precious metal is also seen as a safe-haven asset, similar to its sister metal gold. Safe-haven investments can offer protection in times of uncertainty, and with tensions running high, they could be a good choice for those looking to preserve their wealth in difficult times.
With those factors in mind, let’s look at the pros and cons of buying silver bullion.
What are the pros of investing in silver bullion?
Silver can offer protection
Silver bullion is often considered a good safe-haven asset. As mentioned, investors often flock to precious metals in times of turmoil, politically and economically. For example, physical silver and gold have both performed strongly in recent years against a background of geopolitical instability and high inflation.
"What you can know with absolute certainty is that good money — so physical gold, physical silver in your possession — is the single safest thing that you can do to protect yourself from all of those issues, plus so many more," Lynette Zang of ITM Trading told the Investing News Network at the 2024 Vancouver Resource Investment Conference.
Silver bullion is a tangible asset
While cash, mining stocks, bonds and other financial products are accepted forms of wealth, they are essentially still digital promissory notes. For that reason, they are all vulnerable to depreciation due to actions like printing money. A troy ounce of silver bullion, on the other hand, is a finite tangible asset. That means that, although it is vulnerable to market fluctuations like other commodities, physical silver isn’t likely to completely crash because of its inherent and real value. Market participants can buy bullion in different forms, such as silver coins or silver jewelry, or they can buy silver bullion bars.
Silver's cheaper and more flexible than gold
Compared to gold bullion, silver is significantly cheaper, which makes it more accessible for investors looking for an affordable entrance to the precious metals market. This can make it easier for investors to build up a portfolio over time.
Another benefit is that investors who need to convert their precious metals to currency will have an easier time selling a portion of their silver portfolio than those looking to sell part of their gold. Just as a US$100 bill can be a challenge to break at the store, divvying up an ounce of gold bullion can be a challenge. As a result, silver bullion is more practical and versatile, particularly for everyday investors who need flexibility in their investments.
Silver offers higher returns than gold
Silver tends to move in tandem with gold: when the price of gold rises, so too does the price of silver. Because the white metal is currently worth around 1/86th the price of gold, buying silver bullion is affordable and stands to see a much bigger percentage gain if the silver price goes up. In fact, silver has outperformed the gold price in bull markets. It’s possible for an investor to hedge their bets with silver bullion in their investment portfolio.
History is on silver’s side
Silver and gold have been used as legal tender for thousands of years, and that lineage lends them a sense of stability. Many buyers find comfort in knowing that silver has been recognized for its value throughout a great deal of mankind’s history, and so there’s an expectation that it will endure while a fiat currency may fall to the wayside. When individuals invest in physical silver, there is a reassurance that the metal has value that will continue to persist. Additionally, its increasing use as an industrial metal in the energy transition has improved the metals fundamentals even further.
What are the cons of investing in silver bullion?
Danger of theft
Unlike most other investments, such as stocks, holding silver bullion can leave investors vulnerable to theft. And of course, the more physical assets, including silver jewelry, that reside within your home, the more at risk you are for losing significantly if a burglary takes place. It's possible to secure your assets from looting by using a safety deposit box in a bank or a safe box in your home, but this will incur additional costs.
Weaker return on investment
Silver may not perform as well as other investments, such as real estate or even other metals. Mining stocks, especially silver stocks that pay dividends, may also be a better option than silver bullion for some investors. Royalty and streaming companies are another option for those interested in investing in silver, as are exchange-traded funds and silver futures.
High silver demand leads to higher premiums
When investors try to buy any bullion product, such as an American silver ounce coin known as a silver eagle, they quickly find out that the physical silver price is generally higher than the silver spot price due to premiums used by sellers. What’s more, if demand is high, premiums can go up fast, making the purchase of physical silver bullion more expensive and a less attractive investment.
Bullion lacks quick liquidity
Silver bullion coins are not legal tender, meaning they can't be used for every day purchases. Since the metal is usually used as an investment, this isn't often an issue. However, it does mean that if silver needs to be sold in a hurry to cover expenses, investors will need to find a buyer. If you can't access a bullion dealer and are in a jam, pawn shops and jewelers are an option, but they won't necessarily pay well.
How to add physical silver to your portfolio?
Interested in adding silver to your portfolio? Watch the Investing News Network's interview with Mark Yaxley of precious metals dealer SWP. He discusses how much to buy, what products to consider and more.
This is an updated version of an article originally published by the Investing News Network in 2016.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Latest News
Latest Press Releases
Related News
TOP STOCKS
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.