Mercado Minerals (CSE: MERC) has released a fresh round of assay results from its Copalito silver project, and the numbers give the company something to build on as its first drill campaign presses forward.
The latest results center on the El Pilar vein, where drilling returned the strongest intercepts of the batch. Hole COP-26-019 cut 3.40 metres grading 403 g/t silver equivalent, wrapped around a higher-grade core that pushed well above that mark.
Highlights from the assays include:
- COP-26-019: 403 g/t silver equivalent (11 g/t silver, 3.53 g/t gold, 1.45% lead, 4.41% zinc) over 3.40 metres from a depth of 118.00 metres
- Including 675 g/t silver equivalent (9 g/t silver, 5.37 g/t gold, 1.65% lead, 10.05% zinc) over 0.80 metres from a depth of 119.35 metres
- COP-26-018: 264 g/t silver equivalent (9 g/t silver, 1.86 g/t gold, 1.19% lead, 4.08% zinc) over 4.05 metres from a depth of 117.40 metres
- Including 635 g/t silver equivalent (18 g/t silver, 3.80 g/t gold, 3.14% lead, 11.85% zinc) over 0.65 metres from a depth of 120.80 metres
- COP-26-023: 200 g/t silver equivalent (103 g/t silver, 1.11 g/t gold, 0.18% lead, 0.86% zinc) over 8.00 metres from a depth of 83.90 metres
The nine holes reported, COP-26-016 through COP-26-024, form part of an inaugural 3,000-metre diamond drilling program.
Beyond El Pilar, the work has begun to sketch out the scale of the system. The El Pilar vein now shows a strike length of roughly 1,250 metres, while the El Agua vein extends about 950 metres. A newly identified El Pilar Sur vein adds another 300 metres to the picture.
“We are pleased and encouraged by the results from our inaugural diamond drill program at Copalito,” said Daniel Rodriguez, chief executive officer and director.
The findings build on data released earlier in the campaign, when drilling at the El Agua vein returned 1,120 g/t silver equivalent over 1.20 metres and extended the 5 Señores vein along strike and at depth. Mineralization across several of the veins remains open, leaving room for the drill to keep testing.
Mercado Minerals last traded at $0.08 on the CSE.
