“We continue to intersect excellent drill results as we step out from the current margins of the El Curso orebody. There remains an additional 100 m to drill until we connect El Curso with the Milache orebody to the west, and there is a similar gap to fill to connect El Curso with the Porvenir Cuatro orebody (previously mined) to the east.”
John Miniotis, President and CEO, commented, “Our drill results continue to far exceed expectations. The consistency of our Phase I exploration program has been quite remarkable, as we’ve now intersected high grade mineralization over impressive widths..
Silver also broke out of a short-term downtrend when it broke $26/oz. and is currently hovering right around that level. The miners have reacted favorably and have run up nicely but are still incredibly cheap and priced as if gold were priced $200-$250/oz. lower.
Management withheld metal from sale during the price correction over last two weeks of March and plans to sell the withheld metal inventory in anticipation of a precious metal prices rebound in Q2, 2021.
The silver miners’ stocks have mostly consolidated high over the past half-year or so, mirroring resilient price action in the metal they produce. But this relative strength has been overshadowed by the extended correction in gold, which forced gold stocks lower.