Walcott Resources Ltd's (CNSX:WAL) (OTCMKTS:WALRF) (FRA:WR2) Australian technical team has identified key elements at the newly acquired Century South Silver-Zinc Project (CSSZP) in northwest Queensland that enhance exploration potential.
As a result, the technical team is planning to undertake a site visit and will begin widespread surface sampling, focused along the prospective regional fault.
Walcott’s CSSZP consists of approximately 277 square kilometres and is in a highly prospective region - the Mt Isa Basin - with six major silver-zinc-lead operations and several world-class copper deposits with established mining infrastructure.
Despite this region hosting several world-class silver-zinc-lead and copper deposits, much of the area remains under-explored.
Advancing towards drillable targets
Chief executive officer David Thornley-Hall said: “We are excited by the strong fundamentals linked to our Century South Silver-Zinc Project and we anticipate committing to a significant work program on this property.
“Accordingly, our Australian technical team have set an ambitious agenda to swiftly and effectively advance towards drillable targets within the tenure.”
In prolific region
Exploration efforts over the past century led to the discovery of the deposits and numerous other silver-zinc occurrences within the Mt Isa region and Walcott and its consultants believe there is excellent exploration potential in the region and at the CSSZP.
For the 12-months ended June 30, 2020, the Century Mine produced 8.4 million tonnes of ore with average grades at 13.5 g/t silver and 2.96% zinc, containing 1.14 million ounces of silver and 117,000 tonnes of zinc metal.
There are a number of similarities between the projects:
- The two projects are on the same regional fault line which is known to control and constrain silver-zinc mineralization in the district;
- Both CSSZP and Century Mine are hosted in the same Lawn Hill Platform which is within the Western Fold Belt; and
- There are similarities between the magnetic/density geophysical characteristics apparent at CSSZP and Century Mine, indicating that the underlying geology might be comparable.
The CSSZP is in a well-established mining district with reliable infrastructure and access to nearby ports with 90% of the tenement within the 10-kilometre transmission network corridor as powerlines run through the centre of the EPM26713.
Century South Silver-ZInc Project in the prolific Mt Isa Basin of northwest Queensland.
Planning for a more detailed stage one exploration program is underway comprising a combination of field mapping, rock chip, soil and stream sediment sampling.
A field visit and orientation exercise are planned to get underway shortly in order to facilitate assessment of the overall size and areas of interest in the target areas.
Concurrently, the technical team is formulating plans to visit the Tyr Silver Project in northern New South Wales, which is home to two historic silver mines and a 20-kilometre by 4-kilometre potentially mineralized system.
A key focus of the Tyr program envisaged is surface sampling near the old silver mines and other targets to reconcile historic data and exploration reports.
To date, all the relevant landholders have been notified by registered mail of the forthcoming field visit by the geology team, which should be able to commence within a few weeks.
Walcott has engaged Electrik Dojo LLC and World Wide Media Group LLC for native advertising and digital marketing services to increase awareness.
Aktiencheck.de AG has also been engaged for a European marketing awareness program on a one-month term.
Certain services to be provided by these engagements are anticipated to include investor relations activities under the policies of the CSE and applicable securities laws.
The company will continue to look at strategic consultants to expand awareness of the company and its activities.