Drilling is set to get underway for Denarius Silver (TSXV: DSLV) at its property in Spain. The company is set to get the drills turning on its first drill program at the Lomero-Poyatos project, which is located on the Iberian Pyrite Belt in the south of Spain.
The drill program is slated to consist of a total of 23,500 metres that are looking to validate historical data previously collected on the property. Drilling is to occur within a historic mine on the property, and will then consist of a 50×50 metre infill drill program within the mines lower levels. A total of 81 drill holes are slated for testing, which includes 17 extension holes.
The property itself consists of the former Lomero-Poyatos concessions, which includes a historic mine within the Iberian Pyrite Belt. The planned drill program is said to be fully financed.
“We are excited to be commencing the diamond drill program on the Lomero-Poyatos Project, which allows us to start testing the existing deposit which has a historical estimate in the inferred category of 20.9 Mt of 3.1 g/t gold, 62 g/t silver, 0.9% copper, 0.9% lead and 3.1% zinc. The Lomero-Poyatos deposit was not cut off either down dip or along strike, indicating the potential for significant growth,” commented Serafino Iacono, interim CEO and Executive Chairman of Denarius.
Two rigs are planned to conduct the drill of the property, with drilling slated to commence this week.
Denarius Silver last traded at $0.54 on the TSX Venture.
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