South32 Limited and Arizona Mining Inc. recently announced that they have entered into an agreement...
Montego evaluates the future steps on exploration of the Taylor Project
Montego Resources is currently in the process of evaluating next steps and an exploration program on the Taylor Silver Property.
The Property is an advanced stage silver-gold target located approximately 24 kilometres south of Ely, Nevada with access from a maintained mine road. Mineralization there is a Carlin style, bulk silver-gold epithermal, high-silica, low sulfide replacement deposit in flat-lying Devonian-age silty carbonate rocks. An updated resource estimate completed by the Vendor (based on 480 drill holes totalling 28,244m) outlined a combined measured and resource of 8.894 Mt at 1.89 oz/t Ag containing 16.82 million ounces of silver.*
The land package is comprised of 131 unpatented lode claims, 5 unpatented mill site claims and 4 patented claims all covering approximately 2,166 acres. Historic work includes high grade silver from underground mining in the 1890's and open pit bulk mining in silver rich Jasperoids from 1981-84 and an expanded mill and flotation circuit operated from 1989-91.
An extensive mapping and soil sampling program identified multiple gold-silver targets within the Property to the immediate east, south and southeast of the resource area. A 2014 RC drilling program confirmed potential for both near surface and deeper precious metals targets (gold and silver).
Kenneth Tollstam, CEO of Montego Resources commented, "We are very pleased to have a project of this quality and caliber that has had previous significant amount of exploration work and capital put into this project. We feel with historical silver prices and current commodity prices, that Silver is positioned well for the future."