Texas Mineral Resources Corp. has released preliminary results from exploratory drilling conducted in the Black Hawk Mining District under a 2021 agreement with Santa Fe Gold Corporation. The drilling program, focused on evaluating the Alhambra mine's potential, successfully intersected sulfide bearing veins in ten out of eleven holes at anticipated depths, testing both Electro-Magnetic anomalies and the historic Alhambra vein. This outcome provides initial validation of the exploration approach and suggests the presence of mineralized structures worthy of further investigation.
The exploration employed the NANOTEM geophysical surveying method developed by Zonge International, specifically adapted for the unique geological conditions of the Black Hawk district. According to the company, this method proved effective in locating veins, though it does not differentiate between native silver and sulfide bearing veins. The successful application of this technology is viewed as a positive indicator for streamlining future exploration efforts in the area. Texas Mineral Resources Corp. is currently analyzing the retrieved drill core, with a comprehensive technical report expected to follow.
Daniel Gorski, CEO of Texas Mineral Resources Corp., expressed optimism regarding the NANOTEM method's performance. He indicated that its effectiveness in vein identification could significantly influence the project's subsequent exploration and development phases. The Black Hawk Mining District is historically recognized for its 'Five Element Veins,' and the Alhambra mine specifically features carbonate filled structures that are considered prospective for hosting valuable minerals. The project's scientific foundation is reinforced by a collaboration with the New Mexico Bureau of Geology and Mineral Resources, where geologists and students have contributed to core logging and analysis activities detailed at https://geoinfo.nmt.edu.
The forthcoming steps for the project hinge on the detailed evaluation of the data gathered from this drilling campaign. The analysis will guide the next phase of work and inform discussions aimed at formalizing a joint venture agreement with Santa Fe Gold Corporation. The ultimate objective remains the eventual commercialization of the project, contingent upon confirming the economic viability of the mineral resources. The preliminary findings represent a critical step in de-risking the exploration process and advancing toward that goal, as the company leverages both modern geophysical techniques and historical geological understanding of the district.
