Black Mountain Resources identifies high grade silver at Bonanza

Black Mountain Resources, the AIM-listed silver-focused development company with interests in the US, has reported that high grade silver of up to 1,684 grams per tonne (g/t) has been returned from samples at the

Black Mountain Resources, the AIM-listed silver-focused development company with interests in the US, has reported that high grade silver of up to 1,684 grams per tonne (g/t) has been returned from samples at the

Bonanza Drive at the company's New Departure Silver Project located in Montana,US.

The company said that the initial grab samples were taken from the historic stopes and existing pillars as well as the face of the Silver Springs drift in the Bonanza Zone.

In addition to high silver grades, the company said that the assay results represented an outstanding positive as an initial step in confirming both the extensive historic data available from previous workings and extensions to the historic mineralisation.

A daily production sampling program is currently underway as the company

continues to develop the existing workings and the Bonanza Drive as part of its ongoing mining activities to access previously identified mineralisation areas in the Bonanza Zone.

Further samples taken from visually identified veins in a side drift out of the main structure near the Silver Springs tunnel area returned results of up to 93.4g/t of silver and 5.45g/t of gold, the group added.

Pete Landau, Chairman of Black Mountain, commented: "These are exceptional assay results which underpin the high grade silver credentials and the extensive historic data available for the New Departure Silver Project. We are now ideally positioned to finalise toll treatment arrangements with nearby mills and we look forward to updating shareholders in the coming weeks as we hit these exciting pre-production milestones."

Black Mountain Resources' share price was up 1.28% to 9.88p at 12:36 on Friday.

MF

Recommended

Share tips of the week – 22 October
Share tips

Share tips of the week – 22 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
22 Oct 2021
Three dividend stocks from the dynamic Asia/Pacific region
Share tips

Three dividend stocks from the dynamic Asia/Pacific region

Professional investor Sat Duhra of the Henderson Far East Income investment trust highlights three of his favourite stocks.
18 Oct 2021
Share tips of the week – 15 October
Share tips

Share tips of the week – 15 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
15 Oct 2021
Trading: stash the family cash in this cheap wealth management firm
Trading

Trading: stash the family cash in this cheap wealth management firm

Wealth management is a growth market. Rathbone Brothers should be a prime beneficiary – and looks cheap. Matthew Partridge explains the best way to pl…
12 Oct 2021

Most Popular

How to invest as we move to a hydrogen economy
Energy

How to invest as we move to a hydrogen economy

The government has started to roll out its plans for switching us over from fossil fuels to hydrogen and renewable energy. Should investors buy in? St…
8 Oct 2021
Properties for sale for around £1m
Houses for sale

Properties for sale for around £1m

From a stone-built farmhouse in the Snowdonia National Park, to a Victorian terraced house close to London’s Regent’s Canal, eight of the best propert…
15 Oct 2021
How to invest in SMRs – the future of green energy
Energy

How to invest in SMRs – the future of green energy

The UK’s electricity supply needs to be more robust for days when the wind doesn’t blow. We need nuclear power, says Dominic Frisby. And the future of…
6 Oct 2021