PERMIT RECEIVED FOR DRILL PROGRAMME AT BAY STATE SILVER PROJECT, NEVADA
The programme that has been permitted comprises access track upgrading and the construction of up to 16 drill pads. The permit will allow for a multi-phase drill programme where one or more holes can be drilled from each pad.
The first phase of drilling is expected to comprise 3 holes at 150-200m spacing to test beneath existing workings on the Chihuahua vein and one of these holes will also test the area where bonanza silver grades were recently obtained from underground sampling (see announcement of 1 June 2015).
The Company will use diamond drilling in Phase 1, which, although more expensive than percussion drilling, will provide superior geological and grade distribution information for the planning of additional drill phases.
The Company has submitted a restoration bond to BLM for the permitted programme and is now in the finals stages of reviewing drilling contractor bids with a view to start drilling this month. A further announcement will be made when drilling is due to start.
Commenting today, Executive Chairman Patrick Cheetham said: "We are delighted to be fast-tracking the drill programme at Bay State and look forward to the first results. We believe that the permit now in place will cover sufficient phased drilling to meet our next objective which is to define a JORC compliant Mineral Resource Estimate."
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