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• Capitan announced high-grade assay results at the Cruz de Plata silver-gold project in Durango, Mexico.
• The highlight high-grade silver intercept was reported of 1,541 g/t AgEq over 1.5m within a broader interval of 202 g/t AgEq over 18.3m.
• A new key target was identified, known as the Peñoles Fault.
• On Oct 1st, CAPT announced the upsizing of its fully funded Phase 1 program by 50% to 15,000m and is planning to complete a property-wide 385 line-km regional airborne magnetic and magneto-telluric survey.
This morning, Capitan Silver (CAPT:TSXV) announced high-grade assay results at its Cruz de Plata silver-gold project in Durango, Mexico. This is part of its recently expanded (to 15,000m) fully funded Phase 1 RC drill program. The Company reported results from 12 drill holes, with one hole reporting a high-grade silver intercept of 1,541 g/t AgEq over 1.5m within a wider zone of 202 g/t AgEq over 18.3m. Most other holes intersected strong mineralization as well as new targets and zones being identified. This drilling builds off results of the early surface work reported on October 1st, which has significantly expanded the size potential of the mineralization on the project (read our research note here). We are maintaining our BUY rating and a target price of $2.40/share on Capitan Silver.
Highlights from Today’s Release Include:
• Hole 25-ERRC-20: 1,541 g/t AgEq over 1.5m, within 202 g/t AgEq over 18.3m. This is believed to be a continuation of the Jesus Maria Vein (offset to the north by the Peñoles Fault).
• Peñoles Fault emerging as a new priority target: The NW-striking fault is becoming a high-priority target, with evidence of mineralization increasing at depth, especially where the fault intersects EW trending zones.
• Hole 25-ERRC-17: 476 g/t AgEq over 1.5m, within 118 g/t AgEq over 7.6m. This is a new high-grade EW trending zone, proximal to the Peñoles Fault.
• Several other holes intersected high-grade silver mineralization at the Gully Fault Zone, with three distinct zones identified (see below).
Drilling is ongoing with assays pending on 28 RC drill holes, and we expect consistent news flow throughout the rest of the fall and into the new year.
CAPT: More High-Grade Silver Results & New Key Target
What you need to know:• Capitan announced high-grade assay results at the Cruz de Plata silver-gold project in Durango, Mexico.
• The highlight high-grade silver intercept was reported of 1,541 g/t AgEq over 1.5m within a broader interval of 202 g/t AgEq over 18.3m.
• A new key target was identified, known as the Peñoles Fault.
• On Oct 1st, CAPT announced the upsizing of its fully funded Phase 1 program by 50% to 15,000m and is planning to complete a property-wide 385 line-km regional airborne magnetic and magneto-telluric survey.
This morning, Capitan Silver (CAPT:TSXV) announced high-grade assay results at its Cruz de Plata silver-gold project in Durango, Mexico. This is part of its recently expanded (to 15,000m) fully funded Phase 1 RC drill program. The Company reported results from 12 drill holes, with one hole reporting a high-grade silver intercept of 1,541 g/t AgEq over 1.5m within a wider zone of 202 g/t AgEq over 18.3m. Most other holes intersected strong mineralization as well as new targets and zones being identified. This drilling builds off results of the early surface work reported on October 1st, which has significantly expanded the size potential of the mineralization on the project (read our research note here). We are maintaining our BUY rating and a target price of $2.40/share on Capitan Silver.
Highlights from Today’s Release Include:
• Hole 25-ERRC-20: 1,541 g/t AgEq over 1.5m, within 202 g/t AgEq over 18.3m. This is believed to be a continuation of the Jesus Maria Vein (offset to the north by the Peñoles Fault).
• Peñoles Fault emerging as a new priority target: The NW-striking fault is becoming a high-priority target, with evidence of mineralization increasing at depth, especially where the fault intersects EW trending zones.
• Hole 25-ERRC-17: 476 g/t AgEq over 1.5m, within 118 g/t AgEq over 7.6m. This is a new high-grade EW trending zone, proximal to the Peñoles Fault.
• Several other holes intersected high-grade silver mineralization at the Gully Fault Zone, with three distinct zones identified (see below).
Drilling is ongoing with assays pending on 28 RC drill holes, and we expect consistent news flow throughout the rest of the fall and into the new year.
Underlying
CAPITAN SILVER CORP
Provider
Atrium Research Corporation
Atrium Research provides institutional quality issuer paid research on North American public equities using deep fundamental analysis. Our research reports are disseminated through Bloomberg, FactSet, Capital IQ, Reuters and many more, as well as through our social media and email distribution lists.
Ben Pirie
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