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=?UTF-8?Q?COMMENTARY=3A=20FEB.=2023=3A2012=20DRILLING=20PROGRAM=20BEGINS=20AT=20 NIVLOC=20NEVADA=20PROJECT
_COMMENTARY: _
_FEB.
23:2012 DRILLING PROGRAM BEGINS AT NIVLOC NEVADA PROJECT_
This news release speaks to three things: the commencement of the 2012 drill
program, results from the last four holes drilled in 2011 and the pending NI
43-101 report.
_2012 Drill Program_
The 2012 drill program is primarily designed to in-fill the previous
drilling so that the pending resource estimate can be upgraded from
inferred, which will be reported in the pending NI 43-101 report, to
indicated & measured mineral resource.
Secondly, the program will test the
currently defined mineralized zone by stepping out along strike towards the
northeast and southwest, which should give the company a good indication of
the continuity of the zone.
While at the Cambridge Resource show recently I had a chance to look at the
3D model of the target zone with the drill holes.
One of the things that
most impressed me was the size of the zone relative to the area drilled
to-date.
While good results from the in-fill drilling has the potential to
define a resource that could lead to a feasibility study, investors should
keep in mind that the prospective zone is large enough to encompass a number
of areas similar in size to that defined by the 2011 drill program.
_2011 Holes 11NL-31 to 11NL-34_
These holes originate from drill-pad 4, whereas most of the previous 30
holes originated from drill-pads 2 & 3, which lie to the northeast.
So holes
11NL-31 to 11NL-34 are along strike of the prospective zone, but to the
southwest of the area targeted for in-fill drilling in the 2012 program.
When Desert Silver mined the Nivloc they did so in two main areas, which
were separated by a long drift trending from the northeast to the southwest.
The region between these two areas saw minimal exploration outside of what
was sampled from the drift itself, resulting in a large area between two
successful historical workings that has yet to be explored.
It is the far
southwest of this unexplored area that was the focus of these 4 holes.
The 4 holes, and in particular the deeper results from 11NL-31, have
returned valuable information to the Company.
Certainly 22 feet of 165.00
grams/tonne of silver and 1.88 grams/tonne of gold are good results, with
the gold actually exceeding the average values mined in the 1930’s and 40’s.
The significant thing to take away from these results is the fact that the
zone of mineralization is now proven to extend to the southwest from the
area where the majority of the drilling was concentrated during 2011.
So
when the NI 43-101 report is released investors can take into account that
even before the 2012 results begin to come in the project is already bigger
than what this pending report will show.
_Pending NI43-101_
The news release says the following concerning the pending NI 43-101:
“Information from the current drilling program has been incorporated into a
geological model for the Nivloc deposit.
The results are currently being
evaluated for the purpose of converting the data into a NI 43-101 compliant
resource for the area drilled and to determine locations for additional
drilling.”
As I understand it this report has been going through a peer review process
and the Company is hopeful that is will be released to the public shortly.
As the PDAC is coming up on March 4^th I would imagine that the company
would like to see it released by then.
Good luck in the markets,
Kevin Hull
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