Silver47 Exploration Corp. ($AAGAF) is excited to announce the commencement of metallurgical test work aimed at evaluating the reprocessing feasibility of the historic Belmont tailings deposit situated on its patented claims in Nevada. This deposit contains NI 43-101 compliant inferred resources of 1.8 million ounces of silver and 11,000 ounces of gold, presenting a potentially significant source of silver that has not been systematically assessed using modern recovery techniques.
CEO Galen McNamara noted, "The current silver price environment has fundamentally altered the economics surrounding historic tailings like those at Belmont. During evaluations by Howard Hughes' Summa Corporation in the 1970s, silver prices were around $4-$5 per ounce, making reprocessing unfeasible. Today, this fully owned asset offers a compelling opportunity to leverage modern techniques with minimal new surface disturbance while rehabilitating a legacy site that could serve as a model for similar projects in the region." He expressed optimism that the upcoming tests would generate crucial data to assess the site’s true potential.
Executive Chairman Gary Thompson added, "This Tonopah tailings silver-gold recovery project represents a valuable short-term opportunity for our shareholders. With ambitious exploration programs slated for our core assets alongside ongoing tailings work, we anticipate this being a transformative year for Silver47. We look forward to evaluating the potential of this opportunity and resuming drilling at Hughes this spring."
As part of the auger drilling and metallurgical test program, Silver47 has successfully executed a targeted drilling campaign at its Hughes property. The 21-hole initiative, totaling approximately 67.35 meters, was designed to collect fresh and representative samples from the entire tailings impoundment. The holes, ranging in depth from 1.05 to 5.75 meters, systematically targeted both the western and eastern zones. Sample collection utilized hand augers, with material recovered in sealed, labeled buckets to ensure accurate transport.
The collected material, weighing around 150 kg from 20 holes, has been dispatched to Forte Analytical LLC in Fort Collins, Colorado, for comprehensive metallurgical testing. The testing involves various procedures, including head characterization, cyanide shake tests, and bench-scale carbon-in-leach (CIL) testing, aimed at optimizing recovery rates and process efficiency. This integrated approach builds on historic data indicating strong cyanide amenability, with the goal of confirming modern recovery potential amid rising silver prices.
Silver47 Exploration Corp. is committed to uncovering and developing silver-rich deposits across North America, with operations in Alaska, Nevada, and New Mexico. The company holds a combined resource totaling 236 million ounces of silver equivalent at an inferred grade of 334 g/t. Detailed information regarding resource estimates and technical reports can be accessed through SEDAR+ (www.sedarplus.ca). Follow us on social media for the latest updates.
For more information about Silver47, please visit silver-47.com and review the Technical Report titled "Technical Report on the Red Mountain VMS Property Bonnifield Mining District, Alaska, USA" filed on SEDAR+.