Substantial Increase To Mineral Resource At South Mountain Zinc-Silver-Gold-Copper Project
VANCOUVER - BeMetals Corp. reported an updated Mineral Resource Estimate (MRE) incorporating results from its Phases 1 and 2 underground diamond drilling programs at the South Mountain Project in southwestern Idaho. The updated MRE includes a substantially increased resource for the Project while maintaining the high-grade nature of the mineralization. The updated MRE: Measured & Indicated ("M&I"): 187,650 tonnes grading 9.63% Zinc ("Zn"), 151 grams per tonne ("g/t") Silver ("Ag"), 2.19 g/t Gold ("Au"), 1.01% Lead ("Pb") and 0.63% Copper ("Cu”); This represents a 21.8% increase to the M&I tonnage from the historical 2019 MRE with a 20.36% Zn equivalent grade ("ZnEq”); Inferred: 756,300 tonnes grading 7.63% Zn, 196 g/t Ag, 1.40 g/t Au, 0.97% Pb and 0.81% Cu; and This represents a 129.5% increase in the Inferred tonnage from the historical 2019 MRE with a 18.10% ZnEq.
John Wilton, President and CEO, said, "We are very pleased with the results of this updated mineral resource estimate, more than doubling the high-grade inferred resources at the South Mountain deposit. BeMetals has delivered on its objective of substantially increasing the resource base at the Project while maintaining the high-grade nature of the mineralization at 20.36% and 18.10% zinc equivalent grade for M&I and Inferred resource categories respectively. This has been achieved predominantly through the successful expansion of the DMEA Zone and with additional tonnage at the Texas West and East Zones. Importantly, all of these zones and other known areas of mineralization remain open to further increase with future underground drilling.
The data collected from the drilling campaigns have confirmed the robust and extensive high-grade of the South Mountain deposit's mineralization. The experienced project team based in Boise, Idaho, which includes personnel from both BeMetals and Thunder Mountain Gold Inc., (the optionee of the Property), completed the successful underground drilling programs on time and on budget. Given the success of our work to date, we are confident that with more drilling during future phases of evaluation, the South Mountain mineral resource base can be further expanded. The results of today's MRE will be incorporated into the ongoing South Mountain Preliminary Economic Assessment ("PEA"), which is planned for completion in September this year."