Prime Meridians – Just Meters Away From A Silver Mega-Find?

This week in Pierce Points:

The Philippines’ new leader ripped mining. “I have a big problem with mining companies,” said president-elect Rodrigo Duterte

Junior E&Ps scored big in Ireland. 14 licenses in the Atlantic Margin bid round went to small firms. But the majors might come soon.  

Violence closed a South Africa platinum mine. Clashes between opposing unions left two dead near the Zondereinde operation.

Shell named its favourite oil and gas plays. Management is focusing on Brazil, America and Argentina.  

India’s gold sales had another terrible month. May imports were likely down 51% from last year.

Just Meters Away From A Silver Mega-Find

Quick note as I’m on my way to the airport — to catch a flight to Myanmar for the next couple of weeks. 

The most exciting thing this trip will be a visit to our silver-lead-zinc project in northern Myanmar. Where the drills have been turning for a month now, offering the first modern exploration look ever below the subsurface here. 

Even before the drills got going however, the current program already yielded some intriguing results. When cobbles discovered during the clearing of the drill road yielded assays of 1,600 grams per tonne silver (51.5 ounces per tonne) — along with 49% lead and 22% zinc. 

In most areas, I’d consider this a likely outlier sample. But the historic records from this area suggest this is in fact quite average — with the mine that lies just two kilometers to the south here having produced at head grades of 25 ounces per tonne silver, and near 50% combined lead-zinc.

Can’t wait to get a look at the core coming out of the ground. I’ll likely be out of internet range next week, so probably no Pierce Points — and we’ll see for the week after, when I’ll be visiting a new gold prospect in the eastern Myanmar (also no slouch when it comes to grade, having recently returned samples of over 35 grams per tonne gold from local mining operations). 

Talk to you as soon as I can afterward. Have a great couple of weeks as the summer sets in, and all the best whatever your market is right now.

Here’s to the thrill of the chase,

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Dave Forest

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