sexta-feira, outubro 13, 2006

ECU Silver Mining

Click chart to enlarge
Chart courtesy of http://stockcharts.com

ECU Silver's operations are located on the Velardeña mining property in the state of Durango, Mexico. As a sort of financial back up and having also a role as a developing pilot plant, the company bought a milling facility in 2005 that is currently operating at 320tpd for normal production on a sector of Santa Juana mine.

Despite major discoveries that ECU has been made so far the geological conditions imply the possibility of bigger ones to appear!

Yet in an early stage, drilling program in Santa Juana and San Mateo mines has showed great discoveries with large extensions of average grade of silver above 150 g/t and of gold above 4g/t.

On a very conservative approach, resources were reported (for 2005) at 17.4 million ounces of silver equivalent and inferred resources were 81 million ounces of silver equivalent. In reality and including the discoveries that already took place in 2006, total resources so far should be estimated around 250 million ounces of silver equivalent. And we must remember that ECU has only completed less than 30% of its exploration program.

Without any doubt we have here a top junior mine company which is most probably going to deliver huge returns on the long term.

Sem comentários:

Powered By Blogger