- Silver Sands Resources (SAND) has launched a 2020 drill program at its Virginia Silver Project in Santa Cruz, Argentina
- The company intends to complete an initial 2,500 metres of drilling, focusing on a number of previously untested or minimally tested epithermal silver veins
- These targets lie to the north, south and east of the Virginia resource area, which hosts an indicated mineral resource of 1,197,000 tonnes at 310 grams per tonne of silver
- With more than C$3 million on the company’s balance sheet, the program is fully funded and will be expanded based on positive results
- Silver Sands Resources (SAND) is currently up 16.28 per cent to $0.25 per share
Silver Sands Resources (SAND) has launched a 2020 drill program at its Virginia Silver Project in Santa Cruz, Argentina.
The Vancouver-based company intends to drill an initial 2,500 metres, focusing on a number of previously untested or minimally tested epithermal silver veins.
These targets are located to the north, south and east of the Virginia resource area, and include the Ely Central, Magi, Margarita, Naty West, Roxanne, Martina and Patricia veins.
According to a 2014 report, the Virgina deposit hosts an indicated mineral resource of 1,197,000 tonnes at 310 grams per tonne of silver, representing a total of almost 11.93 million ounces.
At the eastern-most side of the area, where the Magi vein is located, a small amount of shallow drilling work was previously completed by Mirasol Resources. This work showed a marked increase in silver grades with depth, suggesting the presence of completely preserved and higher-grade ore shoots.
Keith Anderson, CEO of Silver Sands Resources, said a recent induced polarisation survey was successful in identifying key targets within the vein structures that are now the immediate drilling focus.
“With over C$3 million in the bank the drill program is fully funded, allowing us to readily increase the 2,500 metres based on positive results.
“We anticipate a steady flow of catalysts to our shareholders in the coming months,” he added.
The induce polarisation survey was began in early October with 49 line kilometres completed to date. The program remains ongoing and continues to prepare targets for next phases of drilling.
Silver Sands Resources (SAND) is currently up 16.28 per cent to $0.25 per share at 1:11pm EDT.
