High-Grade Delineation Continues at Mercedes
October 2, 2019
Elemental Royalties Limited, (“Elemental”), a private company expanding a diversified portfolio of mineral royalties, is pleased to comment on the recent announcement made by Premier Gold Mines Limited (“Premier”) providing an update from its ongoing drilling program. Premier is the operator of the Mercedes gold-silver mine located in State of Sonora in northern Mexico, on which Elemental Royalties holds a 1% NSR royalty subject to a production hurdle.
Elemental notes that drilling is currently focused on delineating new mineral resources in the Lupita Extension, is returning intercepts well in excess of average production grades and demonstrates continuity of the vein to the west.
In August and September 2019 a total of 34 drill holes representing 5,855m of drilling were completed. Highlights from August and September include, in true thickness:
- 3.6 m of 7.18 g/t Au & 54.38 g/t Ag
- 1.8 m of 24.24 g/t Au & 1.79.43 g/t Ag
- 3.4 m of 10.47 g/t Au & 63.60 g/t Ag
- 4.4 m of 8.86 g/t Au & 66.69 g/t Ag
- 3.1 m of 13.65 g/t Au & 80.01 Ag g/t at Neo, within a stockwork system similar to Diluvio
- An additional 12 drill holes assay results are pending.
Results from the current program are enlarging and better defining high-grade zones which will guide future drilling, designed to delineate the mineralized footprint discovered in 2019 with a 30 m x 30 m grid over the area.
The text above is Elemental Royalties’ comment to the operator’s news release and is not included within the original release. The original article is available using the links below.
About Elemental Royalties Limited
Elemental is a private company providing investors with exposure to a dividend-paying royalty company building a diverse portfolio of mining royalties, benefiting from ongoing royalty revenue, future exploration upside and low operating costs.
Since early 2017 Elemental has assembled a portfolio of five royalties over seven commodities in four countries, four of which cover producing mines. Immediate cash-flow has enabled the Company to limit dilutive fund-raisings to facilitate royalty acquisitions, and to pay a dividend from inception.
Elemental’s focus remains on securing royalties over advanced assets with established operators and credible counter-parties from a robust pipeline of potential royalty acquisitions across commodities and geographies.
For further information you are invited to visit the Company’s website www.elementalroyalties.com or contact:
|Elemental Royalties Limited|
|T: +44 (0)203 983 7040|
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