Silver Bull Resources Inc. (SVB:TSX; SVBL:NYSE.MKT) announced in a news release it will soon commence an 8,000-meter surface drill program at its Sierra Mojada project in Coahuila, Mexico, which is highly prospective for silver and zinc.
According to the company, the goal of the drill program is to "target a series of the sulphide extension at depth of the main deposit already defined at Sierra Mojada as well as a series of never before tested targets within the wider area."
The company contracted Major Drilling de Mexico to carry out the work, which will first involve drilling in four historical mining areas of the property. Specifically, drilling will target the sulphide extension at depth of the already-defined main deposit along with untested spots in a broader area.
Drilling will start once Silver Bull has the required permits, likely in March.
The company also recapped highlights of an "extremely successful 2018 for Silver Bull which was marked by a number of key milestones." The milestones included a 70/30 joint venture with South32, where South 32 must contribute a minimum of $10 million for exploration over four years; an updated NI 43-101 resource on the oxide mineralization already defined at Sierra Mojada; closing of a private placement for gross proceeds of US$3.78 million; and fieldwork that included geophysics, mapping and sampling, and underground surveying.
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