Cerro Resources has started its drilling program at the Namiquipa Silver Project in Mexico.
This Namiquipa project comprises three concessions, having 4,400 ha in total. These concessions embrace the La Venturosa silver mine, at which underground mining operations took place for zinc, silver and lead from 1990 – 2002, 1948 – 1955 and 1929 – 1936. Cerro is controlling the mineralized area to the south and north of the La Venturosa Mine, the place where only reconnaissance explorations have been carried out formerly.
The company has identified numerous high priority target areas during the due diligence conducted for the acquisition of the Namiquipa project and will be a part of the 10,000 m drilling core campaign that began earlier. Cerro will continue to provide reports on the drilling progress.
Also, the Company is executing a wide geophysical program, which contains Induced Polarization (IP) and ground magnetic surveys. It examines the anomalies identified through this drilling project as the program proceeds.
Moreover, in June, Cerro will add a second drill to its Mount Philp project in Australia. The company will report the drilling results in the second and third quarter and it has planned to begin the resource calculation in this year’s end.