-- Silver Mountain Resources (AGMR.TO) reported high-grade silver results from brownfield exploration near the Reliquias Mine in central Peru, the company said on Monday.
Channel sampling along a 550-meter segment of the central portion of the Seguridad SE vein, 2.1 kilometres north of the Reliquias Mine, returned a weighted average grade of 2,003 grams per tonne (g/t) silver over an average true vein width of 0.45 meters. These results indicate that high-grade silver mineralization may remain open along strike, both at the Seguridad SE vein and in other nearby veins belonging to the same structural system, a statement noted.
Silver Mountain is currently evaluating areas surrounding the proposed Reliquias production centre.
"These results further validate our focus on near-mine brownfield exploration as a disciplined and cost-effective strategy. Identifying high-grade silver mineralization at surface, close to existing infrastructure, strengthens the overall value proposition of the Reliquias district and supports our longer-term objective of expanding the resource base as we advance toward a planned production restart," said chief executive Alvaro Espinoza.