Monday, February 06, 2012

Southern Arizona silver project reports big increase in resource

Wildcat Silver announced that their exploration drilling program in the Patagonia area more than doubled their 2010 resource estimate. The Hermosa project now shows:

Indicated resource of 101.4 million tonnes of 53.18 g/t silver for 171.3 million ounces of silver.

Inferred resource of 83.6 million tonnes of 36.42 g/t silver for 98.6 million ounces of silver.

Opponents of the project are fighting approval by the U.S. Forest Service to allow core drilling on the federal lands arguing that a full EIS needs to be done now, rather than after the company determines if there are sufficient resources present to justify trying to permit a mine. [Right, location map of Hermosa silver exploration project near Patagonia. Credit, Wildcat Silver]

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