Argentum Silver (ASL-V) has been pulling impressive intercepts out of the El Tajo and La Colorada veins at its Coyote silver project in Mexico since acquiring 100% of the project from Soltoro (SOL-V) in August.
The junior explorer has just completed its second drill program at the silver-gold property in Jalisco state, 180 km east of Puerto Vallarta and 140 km southwest of the state capital Guadalajara.
The 2,200-metre drill program encompassed 17 holes, and the company recently released results from the final seven holes, with four exploring the El Tajo vein and three exploring the La Colorada vein northwest of El Tajo.
Highlights include two El Tajo intercepts of 2.9 metres grading 449 grams silver per tonne and 1.44 grams gold per tonne from hole 2012-42, and a lower intercept from hole 2012-36 of 3.7 metres grading 179 grams silver.
So far, drilling has intercepted the El Tajo vein to vertical depths from surface ranging from 65 to 120 metres over a strike length of 600 metres. A separate, sub-parallel hanging wall vein called Upper El Tajo 2 has been intercepted over a strike length of 350 metres.
Drill intercepts at El Tajo to date range from widths of 0.9 metre to 11 metres and grade from 38 grams silver to 1,470 grams silver. At Upper El Tajo 2, the intercepts range from 0.4 metre to 2.5 metres and grade from 16 grams silver to 1,083 grams silver.
The El Tajo vein remains open at depth, and to the northeast and southwest.
The Coyote property spans 10.5 sq. km and contains dozens of individual, low-sulphidation epithermal silver-gold veins and stockworks. Most of the mineralization occurs within seven defined zones within a 1.5 by 2.6 km area. Vein widths typically range from 1 metre to over 5 metres. Stockwork zones have been mapped at surface, where widths have exceeded 35 metres.
At press time, Argentum shares were trading for 19¢ apiece within a 52-week range of 7¢ to 34¢.
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