Silver X Mining (AGX.V) went into a brief trading halt last week as the company announced a stellar result from its confirmation channel sampling program on the Tangana 1 vein. The headline result was derived from channel sample number 49 which intersected 0.95 meters containing a silver-equivalent grade of just over 7.2 kilos per tonne, which includes about 1,675 g/t in actual silver with 70.88 g/t gold making up for the bulk of the silver-equivalent grade (approximately 70%). Additionally the lead-zinc grade is approximately 6.3%, adding more value to the interval.
But as you can see above, it wasn’t just one interval that returned a jaw-dropping grade, there are numerous other intervals which confirm the existence of high-grade polymetallic mineralization. And while silver usually only makes up a minority of the silver-equivalent grade, it’s clear the Tangana 1 vein is yielding some very interesting results. Silver X will now continue to systematically sample the underground workings at that vein (and keep in mind that’s just one vein of the 11 known vein targets on the property). The Tangana 1 vein has been the subject of small-scale production in the past, but the miners remained close to surface indicating there could be plenty of potential to find high-grade mineralization at depth.
Meanwhile, a 25,000 meter resource expansion drill program is ongoing on Silver X Mining’s properties, and we should see a continuous news flow with assay results come in over the next few months and quarters as Silver X continues to de-risk its flagship property.
Disclosure: The author has a long position in Silver X Mining. Please read our disclaimer.
