Is the world looking at the next Mexican high grade silver mine soon to be discovered?
Silver Spruce Resources (SSE-TSX.V) believes so and that there is a 130,000,000 million ounces of silver waiting to be mined.
In late August of this year Silver Spruce Resources reported assays a high as 557 grams of silver (over 17 ounces) at their Pino de Plata project, a 397-hectare silver property located in the Sierra Madre Occidental in the Western Chihuahua State, of Mexico.
The company has been preparing and constructing drill roads and drill pads and they are expected to be completed by the end of September.
Silver Spruce plans to execute a 1,000- to 1,500-metre drill program to test the defined targets where high grade silver was discovered.
Based on the previous exploration results completed by Silver Spruce Resources it appears their chances of a new Mexican high grade silver discovery are realistic.
Pino de Plata
The Pino de Plata project is located some 15 kilometres from Coeur Mining Inc.’s Palmarejo open pit and underground silver mine. The Pino de Plata property has supported small-scale production of high-grade mineralization in the past; however it has never been systematically explored or drilled.
El Terrero area
In the El Terrero area, the company reported assays as high as 557 grams per tonnes silver (over 17.9 ounces per tonne).
With the Theodora area the company reported assays as high as 553 grams per tonne silver (17.78 ounces per ton).
Santa Elena area
Around the Santa Elena area the company reported assays of up to 200 grams per tonne silver.
Each of the three identified target areas above has an open pit potential for mining silver in the future.