Tuesday, 02 January 2024 12:17 GMT

High-Grade Discovery Continues: 434 G/T Ageq And 2.1 Kg/T Zone Intersected At Metalsource's (CSE: MSM) Silver Hill Project


Date:

(MENAFN- Investor Ideas) Investorideas ( newswir ) Investorideas, a leader in mining investing news and home of theExploring Mining Podcast, issues a news and trading alert for Metalsource Mining Inc. (CSE: MSM ) (OTCQB: MSMMF) (FSE: E9Z).

Investorideas editorial - The stock is trading at $1.64-$1.65 at the opening, with a 52 week high of $2.28. Spot silver is trading at $64.35 US as the market opens and gold is trading at $4,147.99 US.

News Highlight - New drilling extends mineralization approximately 315 metres below surface and demonstrates continued continuity of silver, gold, lead and zinc mineralization beyond historical workings, with additional assay results pending from the ongoing exploration campaign. In parallel, the Company has completed an extensive induced polarization (IP) geophysical survey.

Metalsource Mining Inc. (CSE: MSM) (OTCQB: MSMMF) (FSE: E9Z) today announced additional assay results from its ongoing exploration program at Silver Hill, including 434 g/t silver equivalent ("AgEq") over 10.64 metres in hole SH26-11, highlighted by 2,050 g/t AgEq over 1.52 metres. The latest results continue to demonstrate the continuity, scale and polymetallic nature of the Silver Hill system, with successful step-out drilling extending mineralization along strike and at depth while returning strong silver and gold grades accompanied by significant lead and zinc values. Additional assay results remain pending from the current drilling campaign.

SH26-10: 10m south step out from SH26-05, overall mineralization widens to 4.6m. Assay highlights include; 147g/t silver with 31% combined lead-zinc.

SH26-11: 45m down-dip extension below SH26-10, and 18m southern step out from SH26-07. Assay highlights include; 19g/t gold, 92g/t silver, and 37% combined lead-zinc.

SH26-15: 44m down-dip extension below SH26-08, extends mineralization approximately 315m below surface. Assay highlights include; 8g/t gold, 16% combined lead-zinc and 5% copper.

SH26-16: 40m down-dip extension below SH26-08, and 17m north step out from SH26-15. Assay highlights include; 11g/t gold, 146g/t silver, and 58% combined lead-zinc.

SH25-03 and SH25-04: Identified near surface mineralization 150m north of the inclined shaft, on trend with the Silver Hill system. Assay highlights from SH25-04 include; 103g/t silver and 10% combined lead-zinc.

These results further demonstrate the robust polymetallic nature of the Silver Hill system, with strong silver and gold grades consistently accompanied by significant lead and zinc mineralization. The growing presence of multiple payable metals continues to enhance silver-equivalent values while supporting management's view that Silver Hill may represent a substantial precious and base metals system.

A summary of composite assay intervals is presented in Table 1 below.

Drill Hole IDFrom (m)To (m)Length (m)Au (g/t)Ag (g/t)Pb (%)Zn (%)Cu (%)AgEq (g/t)
SH25-03 16.92 20.06 3.14 0.0 43.2 0.7 0.6 0.0 60
Including 16.92 18.41 1.49 0.0 61.4 0.5 0.1 0.0 67
SH25-04 58.55 60.11 1.55 0.2 40.4 1.5 2.6 0.0 113
Including 59.56 60.11 0.55 0.7 103.0 3.9 6.0 0.0 279
SH26-10 111.98 116.59 4.60 0.7 23.9 2.7 6.1 0.1 202
Including 116.01 116.59 0.58 1.2 146.8 13.6 17.6 0.3 656
SH26-11 138.41 149.05 10.64 3.3 27.0 3.3 7.9 0.2 434
Including 139.96 149.05 9.08 3.7 30.3 3.7 8.5 0.2 488
Including 142.98 146.15 3.17 9.7 52.4 6.5 14.7 0.4 1,087
Including 142.98 144.51 1.52 19.1 92.0 11.7 25.1 0.5 2,050
SH26-15 218.66 228.84 10.18 2.1 16.4 1.5 2.9 0.4 257
Including 218.66 219.36 0.70 8.3 59.5 0.4 1.4 5.4 1,039
Including 226.13 228.84 2.71 4.5 41.0 5.3 10.3 0.2 594
SH26-16 224.45 233.02 8.56 0.6 7.7 0.8 2.1 0.0 90
Including 224.45 224.85 0.40 11.3 23.8 1.5 6.0 0.1 984
Including 232.87 233.02 0.15 0.4 146.0 18.8 39.4 0.0 951

Table 1: Composite assay results from SH25-03, SH25-04, SH26-10, SH26-11, SH26-15 and SH26-16. Widths reported are core length, as additional data is needed to estimate the true width of intercepts at this stage of the project. *Details on AgEq calculations below.

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More info on Metalsource Mining Inc. (CSE: MSM) (OTCQB: MSMMF):
/CO/MSM/


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