Canasil Resources (CLZ.V) and MAG Silver (MAG.TO, NYSEMKT:MVG) announced they have intersected some interesting silver-copper intercepts at the Salamandra property in Mexico’s Durango state after an initial drill program consisting of 3,500 meters.
Of interest are the intercepts of almost 8 meters at almost 5 ounces per tonne of silver and 1.2% of copper which results in a rock value of approximately $185/t. The Salamandra property is quite intriguing as hole 13-13 (which is just 400 meters away from the high-grade silver-copper intercept) only intercepted zinc with a nice long intercept of almost 32 meters at 3.5% zinc.
As the deposit is still open in all directions, MAG Silver has added a second rig to continue drilling at Salamandra, and we’re looking forward to see some more exploration results, as this first batch is already very encouraging.
> Click here to read the press release
Disclosure: The author holds no position in Canasil Resources or MAG Silver. Please see our disclaimer for current positions.
