Exceptional NI 43-101 Resource Highlights Potential Of SVB's Flagship Sierra Mojada Project (Video)
The project is well-funded in an ideal mining jurisdiction and possesses great infrastructure.
Silver Bull Resources, Inc. (TSX: SVB) is a Canadian based mineral exploration company engaged in exploring and developing the "Sierra Mojada" located in Coahuila, Mexico. The project is 100 per cent owned and operated by Silver Bull Resources, Inc. and is part of a large land package consisting of 20 mining concessions totalling 4,715 hectares (11,651 acres), located in a historical high-grade silver, lead and zinc mining district discovered in 1879. The project has a NI 43-101 compliant measured and indicated global resource of 58.7 million tonnes grading at 3.6 per cent zinc and 50 g/t silver for 4.670 billion pounds of zinc and 90.8 million ounces of silver.
Jim Gordon: Hi, I'm Jim Gordon and you're watching Market One Minute. Joining us is Tim Barry. He's the CEO, president and director of Silver Bull Resources. Tim, my first question, I want to jump into last year. Now, last year you signed a major deal with a big mining company in Australia. Can you talk a bit about this South 32?
Tim Barry: Yeah, so South 32 is a spin out company from the world's largest mining company, BHP. And South 32 have been very aggressive in looking for other opportunities, particularly in North America. And we signed the deal with them to explore the Sierra Mojada project in June 2018.
Jim Gordon: Let's talk about your Sierra Mojada project. Now, how has that been affected, and can you talk a bit about bringing South 32 on board?
Tim Barry: Sure. It's been a major boost to the project in a number of ways. Obviously, the validation of a major mining company, looking at the project, suggests the potential that we have always thought is there, coupled with their technical expertise has been invaluable for pushing the project forward.
Jim Gordon: Let's talk about and update our viewers as well about drilling results in the past and what do you have going forward in 2019?
Tim Barry: So, our last drill program finished in June of 2018, and we started drilling something new at Sierra Mojada in the form of sulfide mineralization. And we were getting some quite spectacular results. Some of the best results were 25 metres at 350 grams silver and over a per cent copper. And the program going forward is simply to chase the extension of this sulfide mineralization to depth.
Jim Gordon: Tim, again going back to last year, 2018, you updated your NI 43-101 resource on the Sierra Mojada project. Can you talk a bit about the results?
Tim Barry: Yeah, we were very pleased with the results. We defined a large global resource, and within that global resource, there are two distinct zones, which we call the high-grade silver zone, which is 15.2 million tonnes at an average grade of 114 grams silver and 13.5 million tonnes of high grade zinc at an average grade of 11.2 per cent.
Jim Gordon: Tim, in our few seconds we have left, what else should investors know about this Sierra Mojada project?
Tim Barry: I think there's a few things. It's in one of the best mining jurisdictions in the world, in Mexico. It's one of the few places you can definitely get a mine permitted. It's got great infrastructure, we've got railway right to site, we've got a paved road right to site. Water is taken care of in this part of the world. The company owns six water wells, and we're three hours from an international airport.
Jim Gordon: Tim Barry, thanks for joining us.
Tim Barry: Thank you very much.