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- Metalsource Mining, advancing the historic Silver Hill Project in North Carolina, is using modern drilling technology to test for a much larger silver-gold-polymetallic system than previous generations ever understood.
- The company reported approximately 22 metres of visually identified polymetallic mineralization in drill hole SH26-45, an 80-metre southern step out at its Silver Hill Project in North Carolina.
- The company says mineralization remains open to the north, south and at depth, with the outer boundaries of the system still to be determined.
- The company is integrating drilling, historical geological information, geophysical surveys, and surface sampling, to refine targets beyond the established mine area.
- Silver Hill is a historically producing polymetallic district, while Metalsource also holds the Byrd-Pilot Mountain gold exploration project elsewhere in North Carolina.
Metalsource Mining (CSE: MSM) (OTCQB: MSMMF) (FSE: E9Z), a mineral exploration company, has identified a further interval of mineralization south of its established drilling area at the Silver Hill Project, reporting approximately 22 metres of visually observed polymetallic mineralization in a hole drilled 80 metres beyond a previous intersection.
The company announced on October 22 that drill hole SH26-45 encountered widespread semi-massive sulphide and vein-style mineralization. The intersection extends exploration beyond the previously drilled footprint and provides additional geological information as Metalsource works toward larger step outs to test the scale of the system (https://ibn.fm/yV0Er).
The interval is reported as core length, not true width. More importantly, laboratory assays were still pending when the company released the results. The visual identification of sulphide mineralization does not establish its metal grades, continuity or economic significance.
The latest result is part of a broader programme to determine how far the Silver Hill mineralized system extends beyond the historic mine area. Metalsource says mineralization remains open to the north, south and at depth, although the limits of the system have not yet been established.
The company is using two drill rigs to pursue different objectives. One is supporting expansion around Silver Hill, including follow-up work to the south and at depth. The second is testing priority targets along the broader trend, with target selection informed by geological interpretation, induced polarization (“IP”) surveys and surface sampling.
Metalsource is also preparing for significantly larger step outs to the north and south. These are intended to test areas farther from the established drilling footprint, rather than simply extending existing drill sections by incremental distances.
Project Geologist Dale Moore said the combination of the 80-metre step out and the length of the mineralized interval provided additional information about the possible southern continuation of the system. He said the company was using successive holes to refine its geological interpretation before committing to larger exploration moves.
“The objective is not simply to keep extending individual drill sections. We are using each hole to refine our understanding of the geology, identify the most prospective directions and build the confidence required to make much larger exploration moves toward expanding the system,” Moore said. “SH26-45 provides another encouraging data point as we continue testing how far the Silver Hill mineralized system may extend.”
Chief Executive Officer Joe Cullen similarly described the intersection as encouraging because mineralization was encountered farther south as the drilling footprint expanded. He emphasized, however, that assays would determine the grades.
“Our confidence in the geological model continues to grow, and that confidence is allowing us to take increasingly larger step outs. We are making excellent progress toward our planned major step outs to the north and south, while our second drill advances targets along the broader trend,” Cullen added. “We have demonstrated high grade mineralization at Silver Hill, and now we are focused on understanding its scale. With multiple assays pending and a growing pipeline of exploration targets, I believe we are entering one of the most exciting phases in the company’s history.”
The October 22 release said analytical results remained outstanding for SH26-45 and several other completed holes. Those results should provide a more substantive basis for evaluating the new intersection and determining how subsequent drilling should be directed.
Metalsource sends samples to ALS Geochemistry in Reno, Nevada, and ALS Canada in Vancouver for analysis. Its stated quality-control procedures include certified reference materials, blanks and duplicate samples. Drill core is split, with one half sent for laboratory analysis and the other retained on site.
The company also cautioned that the exploration results are preliminary and insufficient to define a mineral resource. Further drilling will be required to establish the continuity, geometry and grade distribution of the mineralization. A modern resource estimate remains an objective, not an existing measure of the project’s size or economic potential.
Silver Hill is located in Davidson County, North Carolina, within the Carolina Terrane. The property covers approximately 1,225 acres, according to the latest company release. Silver was discovered there in 1838, and mining began the following year. The district subsequently produced silver, gold, lead and zinc.
The historic workings and records provide a substantial body of information for current exploration. Metalsource says its geological database includes historic drill-hole records, underground mapping, dumps and underground chip samples. The company’s current interpretation identifies steeply trending mineralized lenses extending to approximately 550 metres below surface, with openings in multiple directions.
The objective of the present programme is to use modern drilling and geological modelling to assess mineralization beyond the areas explored historically. The latest southern intersection adds another data point, but the larger question is whether the mineralized structures continue across a substantially wider area.
Metalsource is also advancing its Byrd-Pilot Mountain Project in central North Carolina. Earlier USGS surveys identified the area as prospective for a porphyry gold-copper system. Subsequent work identified gold mineralization in soils, trenches and shallow reverse-circulation drilling, alongside alteration and geophysical features that the company considers relevant to a possible epithermal or porphyry-related system.
The Meridian discovery zone at Byrd-Pilot has not been drilled since exploration campaigns in the 1980s, according to the company. It therefore represents a separate exploration opportunity, although its potential will require further testing.
For Metalsource, the immediate focus remains Silver Hill. The 22-metre visual intersection in SH26-45 is encouraging evidence that mineralization has been encountered beyond the previously drilled area, but it is not yet a grade result or proof of a larger economic system. The next phase will depend on laboratory assays and the results of the planned step outs. If those results support the current geological interpretation, Metalsource may be able to refine its understanding of the system and identify further areas for drilling.
For more information, visit the company’s website at www.MetalSourceMining.com.
NOTE TO INVESTORS: The latest news and updates relating to MSMMF are available in the company’s newsroom at https://ibn.fm/MSMMF
