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M&I Mineral Resource Estimate Increased to 51.3Mt at 66g/t Ag and 0.79g/t Au & Does Not Include New High-Grade Silver Discovery in Southwest Zone at Diablillos
The bottom line is silver miners are faring way-better fundamentally than their radically-oversold stock prices suggest. As the leveraged futures speculators are forced to normalize their excessively-bearish positioning through huge buying, silver will surge amplifying gold’s gains like usual.
New Discovery is Located Over 500m Beyond the Limit of the Current Mineral Resource Estimate
Initial Drill Hole Returned Broad Zones of Porphyry Mineralisation Including 226 Metres of 0.43% CuEq and 146 Metres of 0.30% CuEq
While the silver miners’ fundamentals are solid, traders have avoided their underperforming stocks. That won’t change until gold sentiment improves enough to fuel herd bullishness.
High-Grade Oxide Intercept Contains 757 g/t AgEq (10.81 g/t AuEq) over 17m
Includes Impressive 13 Metre Interval Grading 1,029 g/t AgEq (14.7 g/t AuEq) in Oxides
Lower mining costs bucking inflationary pressures largely offset lower average silver prices, keeping sector unit profits strong. That enabled the silver miners to fundamentally-outperform the gold miners in Q4’21, which is unusual.
The initial drilling program is expected to consist of approximately 3,000 meters of HQ diamond core drilling in six, 500-meter-deep holes. A follow-up drill program will be considered following receipt of the initial results.
Silver equivalent production is forecasted to total between 6.7 million and 7.6 million oz at an 80:1 silver:gold ratio.
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