Mexico Drill Results Surprise Fabled Silver Gold

Fabled Silver Gold Corp. anticipated to seek out extra silver assets drilling on its Santa Maria property in Mexico. However one gap gave the corporate outcomes it did not anticipate.

The Parral silver camp has produced greater than 800 million ounces of silver for the reason that mid-Sixteenth century in Mexico’s prolific epithermal silver-gold belt.

Fabled Silver Gold Corp.’s (FCO:TSX; FBSGF:OTCQB; 7NQ:FSE) diamond drilling outcomes at its Santa Maria venture indicated that the development would doubtless proceed. Over three holes within the 14,400-meter program, the corporate noticed spectacular outcomes, together with 7.70 meters of 190.33 g/t Ag Eq with 0.51 g/t Au.

However then one thing surprising occurred. The corporate launched outcomes from a fourth gap, SM20-50, this month, during which Fabled hit high-grade gold, returning 86.10 g/t Au inside 4,821.98 g/t Ag Eq in 21.90 meters grading 5.29 g/t Au contained inside 349.21 g/t Ag Eq.

“We do not know if the corporate’s title needs to be Fabled Silver Gold Corp., or if it needs to be Fabled Gold Silver Corp.,” President, Chief Govt Officer, and Director Peter Hawley advised Streetwise Reviews. “These are hydrothermal gold, not epithermal silver area intercepts, so it is an entire completely different plumbing system. It is a main discovery, so far as I am involved.”

SM20-50 was the final gap of the corporate’s Section 1 drilling program on the web site. “I want I knew (the outcomes) earlier than we stopped, as a result of we would not have stopped,” Hawley stated.

After the information was launched, the corporate’s inventory went up 64% to shut at $0.115 when the outcomes had been launched on Feb. 2. On Feb. 11, the inventory sat at $0.08.

“We do not know if the corporate’s title needs to be Fabled Silver Gold Corp., or if it needs to be Fabled Gold Silver Corp. These are hydrothermal gold, not epithermal silver area intercepts, so it is an entire completely different plumbing system. It is a main discovery, so far as I am involved.”

—President, Chief Govt Officer, and Director Peter Hawley

The drilling found a “beforehand unknown silver-gold mineralization,” the corporate introduced in its information launch. The primary goal was the Santa Maria footwall hydrothermal breccia construction. Your complete 21.90 meters reported 5.29 g/t Au inside 349.21 g/t Ag Eq and stays open at depth and on strike.

The corporate stated Gap SM20-50 was profitable not solely in infill drilling of a drill-poor space, but in addition in following the plunge of the Santa Maria construction from Gap SM20-47 and vectoring in on outcomes from holes SM20-48 and SM20-49.

“It is very uncommon to discover a deposit or construction you could regularly predict the place it’s and drill down and hit it and go, increase, there it’s,” Hawley stated.

Hawley has over 35 years of mining business expertise, from grassroots exploration to improvement and manufacturing. In 2017, he was requested to cofound the corporate and function technical adviser. He was retired on the time, however Hawley stated he needed to do one thing since issues with the corporate’s drilling program had left it “a shell” price about $1.3 million with $375,000 in debt.

“That is the place I walked in and simply stated, ‘No, that is sufficient of this. I am taking up the corporate,'” he stated.

And Then There Have been Two Corporations


Final yr, the corporate determined it made extra sense and gave extra worth to shareholders to separate the copper holdings in Canada out to a second firm, Fabled Copper Corp. (FABL:CSE) The brand new firm started buying and selling on Dec. 21 on Vancouver’s TSX Enterprise Trade. Fabled Silver Gold shareholders acquired one nontaxable share for each 5 shares within the new spinout.

Hawley additionally serves as president, CEO and director of Fabled Copper, which is exploring the Muskwa Challenge in northwestern British Columbia, close to the Yukon border. Muskwa consists of the Toro, Bronson, and Neil declare blocks, which had been explored within the early Nineteen Seventies earlier than rockslides and burgeoning snowfields restricted additional improvement. Twenty-two copper occurrences had been documented on these claims.

Floor exploration has begun there with a minimum of one pattern that was 4.83% copper. Hawley stated the copper might be seen on the floor.

“You have obtained this copper vein … going up the mountain and you may see it … and stroll alongside it and look over the opposite facet,” Hawley stated. “And also you did not drill a gap but.”

As the top of each firms, Hawley stated there are classes he has realized that he can apply to each Canada and Mexico. Lesson one is that the very best place to search for massive deposits is an space the place they’ve been discovered earlier than, which is true for each properties. Second, you’ll be able to’t make a deposit right into a mine if the assets aren’t there.

“It’s best to know in a brief time period or get the sensation, does this have sufficient quantity or financial potential to be an exploitable useful resource or not?” he stated. “As a result of if not, then I am losing my time. And I am losing my shareholders’ cash and all the pieces else. So, it’s a must to name a spade a spade as quick as you’ll be able to. And I am very fortunate I’ve obtained a silver spade, and I’ve obtained a copper spade” within the firm’s Mexican and Canadian properties.

Pondering Outdoors of the Field


Exploration will proceed in Mexico in 2022. Hawley stated half of the Santa Maria property continues to be a clean web page. Section 2 of drilling will embrace two groups, one searching for new deposits and one other doing definition drilling to comply with up on the massive finds from 2021. There is also new property acquisitions this yr, he stated.

Hawley admitted the markets could also be uneven proper now, however he stated the shocking outcomes from gap SM20-50 present there may be quite a lot of potential for progress for Fabled Silver Gold in surprising instructions.

He has a tricky time hiding his pleasure over the Mexico drill outcomes. The realm has been a constant silver producer for a whole bunch of years, however he now believes it may produce gold.

“So right here you’re, you’ve a camp in Mexico that is been in operation for over 500 years,” he stated. “Everybody’s content material as a result of it is the cat that retains on giving. A giant, deep-rooted system. However you do not assume out of the field, as a result of all the pieces is working within the field.”

The outcomes Fabled Silver Gold have gotten so removed from considering out of the field “bode effectively for the longer term,” he stated.

Novadan Capital, Palisades Investments, and mining financier Scott Gibson are amongst Fabled Silver Gold’s largest shareholders. The corporate has about 208 million shares excellent and a market cap of $16.64 million. It trades in a 52-week vary of $0.375 and $0.065.



1) Steve Sobek compiled this text for Streetwise Reviews LLC. He or members of his family personal securities of the next firms talked about within the article: None. He or members of his family are paid by the next firms talked about on this article: None.
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