Nevada Silver Corporation Acquires Historic High-Grade Silver Mines South of the Corcoran Silver-Gold Project, Nevada, USA – Yahoo Finance

TORONTO, ON / ACCESSWIRE / February 2, 2022 / Nevada Silver Corporation ("NSC" or the "Company") (TSXV:NSC)(OTCQB:NVDSF) is pleased to advise that it has filed 124 new claims and reached agreement to acquire a number of patented claims, to cover two areas of extensive historic silver mines 15 kilometers southwest of the Company's 100% owned Corcoran Silver-Gold Project and 80 kilometers north-east of Tonopah in central Nevada (Figure 1). A total of 2,800 acres of unpatented and patented claims have been secured.
The new NSC claim areas (Belmont Silver Project and the North Belmont Silver Project) surround or cover the majority of old silver workings of the Belmont silver mining camp near the historic Belmont town.
Belmont was among the earliest and richest silver mining camps in the Tonapah district with an estimated ore head-grade averaging 25 ounces per ton of silver. Historical accounts describe numerous prospect pits and mine openings of shallow underground workings with richest ore above the water table where silver occurred mostly as silver chloride (cerargyrite). Silver-bearing sulfides together with copper, molybdenum, lead, zinc and antimony minerals were reported at depth.
During the camp's silver mining heyday between 1865 and 1889 Belmont's population was about 10,000 and the town was the seat of Nye County Government. 1887 silver production from the district was estimated as $3,793,103 (1887 value) from 58,906 tons, more than $110,000,000 in today's dollars1. Most mining activities are thought to have been suspended when mine dewatering reduced the Belmont township water supply.
Belmont Silver Project
Accounts of mining activities in the main Belmont mines suggest the two principal shafts (Highbridge (110 meters) and Belmont (180 meters)) were connected on the 300-foot level and that the 500-foot level contained a ‘large tonnage of ore'. Two main vein systems were mined. The eastern veins (Highbridge and Transylvania ledges) were hosted in slate and limestone and dip easterly at 40-50 degrees. High-grade mineralization was reported adjacent to hanging walls of massive quartz veins and generally conformable with strata of Ordovician shale, quartzite and limestone.
Between 1915-17 the Monitor-Belmont Company treated some remaining mine dumps and in 1918 dewatering of old workings was undertaken by the Nevada Wonder Mining Company although no underground production was reported. There has been negligible exploration during recent decades despite high-grade silver samples (up to 5,000g/t silver) collected from remnant dumps during a surface geochemical study of the Belmont silver district by the US Geological Survey in 1985.
North Belmont Silver Project
At the North Belmont Silver Project two separate clusters of historic silver workings are located in quartz vein systems hosted by Ordovician rocks. The northernmost mined area has five old shafts on a near vertical quartz-vein zone trending 030o within thin-bedded silicified limestone. Mine dumps include pyrite, galena, stibnite and tetrahedrite ore minerals.
Seven shallow inclines and numerous prospecting cuts occur in the southern workings north of Belmont town. These workings expose a NW trending quartz vein breccia zone formed along bedding planes in limestone.
Figure 1. Claim location map of Nevada Silver Corporation's Belmont Silver, North Belmont Silver and Corcoran Canyon Silver-Gold Projects.
Exploration Targets
At the Belmont Silver Project silver-base metal deposits could extend along trend from the old workings and at depth beneath the mined lodes and other near-surface, silver-quartz veins may not have been identified by early miners because of poor outcrop and widespread talus.
The depth and lateral extent of mineralization in both projects has not been determined and the Company intends to undertake mapping, geochemical assessment and surface geophysical surveys in early 2022 followed by drill testing of priority targets.
NSC's CEO Gary Lewis commented, "The addition of these projects cements NSC's footprint in an historic silver mining camp which has been overlooked for more than 100 years. Considering the very high reported silver ore grades in relatively shallow mine workings we are surprised that exploration drilling for remnant silver has not been undertaken."
"Located close to Corcoran, Belmont offers the company considerable logistic synergies for exploration and importantly, successful discovery would influence future development options."
"We believe that low-cost geophysical surveys in coming weeks will identify drill targets both beneath and along trend from the old workings and our technical team have commenced exploration planning and permitting."
Qualified Person
The scientific and technical data contained in this news release was reviewed and approved by Ian James Pringle PhD, who is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
For further Information please contact:
Gary Lewis
Group CEO & Director, Nevada Silver Corporation
T: +1 (416) 941 8900
E: gl@nevadasilvercorp.com
About Nevada Silver Corporation
Nevada Silver Corporation (TSXV: NSC) (OTCQB: NVDSF) is a multi-commodity resource company with two exploration projects in the USA. NSC's principal asset is the Corcoran Silver-Gold Project in Nevada. In addition, NSC has management and ownership rights over the Emily Manganese Project in Minnesota, which has been the subject of considerable technical studies, with US$24 million invested to date. Both Corcoran and Emily have been the subject of National Instrument 43-101 compliant mineral resource estimates.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including, without limitation, risks as a result of the Company having a limited operating history and may have a wide variance from actual results, risks concerning the ability to raise additional equity or debt capital to continue its business, uncertainty regarding the inclusion of inferred mineral resources in the mineral resource estimate which are too speculative geologically to be classified as mineral reserves, uncertainty regarding the ability to convert any part of the mineral resource into mineral reserves, uncertainty involving resource estimates and the ability to extract those resources economically, or at all, uncertainty involving exploration (including drilling) programs and the Company's ability to expand and upgrade existing resource estimates, risks involved in any future regulatory processes and actions, risks from making a production decision (if any) without any feasibility study completed on the Company's properties, risks applicable to mining exploration, development and/or operations generally, and risk as a result of the Company being subject to certain covenants with respect to its activities by creditors, as well as other risks.
Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
1 Part of the total production may not have been recorded with the State as often happened in the early days of Statehood; Lincoln reports a much higher figure. University of Nevada Bulletin Vol. XLV, January 1951 No. 3.
SOURCE: Nevada Silver Corporation

View source version on accesswire.com:

Related Quotes
Many Americans are surprised to see they have not prepared as well as they had hoped for retirement when they finally get ready to call it quits. The bad news is, you’ll probably have to make some realistic assumptions of what your retirement will look like. If you’ve lived primarily paycheck to paycheck in your working years, that may continue to feel the case in your retirement.
The e-commerce platform was a big winner during the pandemic but has seen its stock price fall 50% so far in 2022.
In January there was a seven-fold increase in foreclosure starts as compared to December, with roughly 33,000 loans referred to foreclosure, according to a report from mortgage data and analytics company Black Knight. What’s more, data from real estate data analytics firm ATTOM Data Solutions revealed that lenders repossessed 2,634 U.S. properties through completed foreclosures in February 2022, which is an increase of 70% from last year (though it’s still down 45% from last month). What do these foreclosures say about the housing market?
Warren Buffett’s long-term outlook on investments proved successful once again this week when Berkshire Hathaway (NYSE: BRK-A) shares closed above $500,000. If there’s one thing that’s made Buffett one of the most successful investors in history, it’s his commitment to his strategy. A countless number of new investment techniques and algorithms have come and gone over the years, but Buffett has maintained his fairly simple strategy of picking solid companies and focusing on long-term growth whil
It makes perfect sense that Warren Buffett is aggressively buying this oil stock, says one energy strategist.
Energy infrastructure stocks should benefit from rising domestic oil production. ETFs and individual stocks yield up to 8%.
Beaten-down restaurant stocks and shares of high-margin supermarket chains and farm-equipment makers are worth sampling.
A more than 20% decline in the Nasdaq is your open invitation to buy these income stocks, which are yielding between 4% and 11.2%.
The shares of biotech Sorrento Therapeutics (NASDAQ: SRNE) ended the week on a high note, rising a bit over 1% on Friday. The catalyst was some encouraging clinical news from a subsidiary. The drug also demonstrated a "very clean safety profile," Sorrento said, with no identified safety risks or serious adverse events.
Here's another cold, hard truth that many proponents of penny stocks don't tell you: Many low-priced shares stay low for a very long time.
Former U.S. Treasury Secretary Lawrence Summers has been warning about the dangers of an inflationary spiral in the U.S. economy for more than a year, driven largely by what he saw as excessive pandemic relief spending under the Biden administration. Now he’s predicting the Federal Reserve will have to raise rates more dramatically to deal with the problem. “Ultimately we’re going to need 4-5% interest rates, levels they’re not even thinking of as conceivable,” Summers told Bloomberg Television
Berkshire Hathaway CEO Warren Buffett, the 91-year-old Oracle of Investing, has seen just about every type of market. Buffett has a phrase that captures exactly what the market is experiencing right now, says venture capitalist Adam Dell.
LVMH chief Bernard Arnault, the world’s third-richest man with a net worth of $155 billion, is said to be deciding which of his five children will take over the empire.
Gas prices in the U.S. have hit near record highs accounting for inflation, and Washington's Democrats have have found a convenient villain to blame for the pain inflicted on American drivers — Big Oil.
Here are two stocks from Berkshire's portfolio that could be great investments in 2022 and beyond.
Looking for a steady income stream to provide stability in your portfolio? Here are seven of the best dividend ETFs to invest in the coming year, ranked by assets.
(Bloomberg) — The debut of Apple Inc.’s latest iPhone brings a change to the way its U.S. customers can purchase the device, a move toward cutting wireless carriers out of the process and giving the tech giant more control.Most Read from BloombergUkraine Update: Germany Says Refugee Arrivals Now Over 200,000Biden Warned Xi of ‘Consequences’ for Backing Russia in WarBiden Team Hardens View of China Tilting to Putin on UkraineRussia Says It Used Hypersonic ‘Kinzhal’ Missiles to AttackUkraine Upda
A Thursday tweet from Tesla CEO Elon Musk seems to be helping the stock. All it says is “working on Master Plan Part 3,” but people who follow the electric-vehicle company know exactly what Musk is talking about. Part 3 of the master plan would follow Part Deux, published in 2016, and Part 1, written by Musk in 2006.
Who joins GOOGL stock and Microsoft on this screen of Warren Buffett stocks based on the investing strategy of the Berkshire Hathaway CEO?
High-flying growth stocks like Bionano Genomics (NASDAQ: BNGO) tend to be controversial among different crowds of investors. In my view, the biggest point in favor of investing in Bionano Genomics is that its business model will lead to a huge amount of recurring income over time, thereby leading to a virtuous cycle in which it can afford to funnel more and more money into developing new products. Bionano makes a genome-mapping instrument called the Saphyr, which is specialized in detecting major structural variations in chromosomes, such as large insertions or deletions and translocations.


Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button