Summa Silver Corp. (TSX-V: SSVR) (OTCQX: SSVRF) has reported favourable gold and silver recoveries from metallurgical test work conducted at its Hughes project near Tonopah, Nevada.
The company announced Wednesday that recent recoveries from vein samples taken at the project averaged 97 per cent for gold and 90 per cent for silver, producing high-grade concentrates. The samples yielded 6,954 g/t silver and 58.5 g/t gold from the project’s Belmont area and 1,486 g/t Ag and 12.6 g/t Au from its Murray area.
The test program was designed by Ausenco Engineering Canada and completed by Base Metallurgical Laboratories in Kamloops, British Columbia. Summa is also currently completing a 650-metre step out from the recently discovered Ruby area.
“This work represents the first modern metallurgical testing done on our Hughes project in Tonopah, Nevada. As expected, the results confirm the potential for very strong precious metal recoveries,” said Summa’s CEO Galen McNamara.
McNamara added that the “extremely” high-grade concentrates from the Belmont area were of particular interest to the company. He says that with the recent Ruby and Sapphire discoveries at Hughes, the company is well-positioned to continue unlocking value at the project.
Image via Summa Silver
Read more: Calibre Mining reports record breaking sales and increased net income in Q2
Read more: Calibre Mining expands resources from open pit at Nevada’s Pan Gold Mine
In addition to its Hughes project in Nevada, Summa is also focused on the 7,730-acre Mogollon project in New Mexico, a site that the company says has an extensive silver-gold bearing epithermal vein field. The project is a joint venture with Allegiant Gold Ltd. (TSX-V: AUAU) (OTCQX: AUXXF).
Summa Silver shares rose by 3.3 per cent Wednesday to $0.47 on the TSX Venture Exchange and have been on a steady decline since January, dropping by 41.25 per cent.
Other mining companies in the Tonopah area include Viva Gold Corp (TSX-V: VAU) (OTCQB: VAUCF), owner of the Tonopah Gold Project and Blackrock Silver Corp. (TSX-V: BRC), owner/operator of the Tonopah West silver-gold project.
Calibre Mining (TSX: CXB) (OTCQX: CXBMF) is another Vancouver-based junior explorer that has been having recent success with its Nevada projects.
High-grade drill results over significant lengths from the Palomino target at the company’s Pan Mine last month left analysts from Haywood Securities “gobsmacked” at the consistency of gold mineralization.
Drilling intercept highlights from Pan’s Palomino target include:
- Hole PR23-026: 15.2 metres grading 3.84 g/t Au including 13.7 metres grading 4.19 g/t Au
- Hole PR23-058: 27.4 metres grading 2.08 g/t Au including 19.8 metres grading 2.67 g/t Au
- Hole PR23-030: 27.4 metres grading 2.02 g/t Au including 24.4 metres grading 2.19 g/t Au
Calibre continues to produce and sell more gold every quarter and sold a record 69,009 ounces in Q2 this year.
The company’s shares dropped by 2.3 per cent Wednesday to $1.48 on the Toronto Stock Exchange but have risen by over 63 per cent since the beginning of this year.
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