Metalsource Mining Company (Private search engine: Muscat Securities Market; OTCCP: MSMMF; FSE: E9Z) announced the strategic expansion of the Silver Hill land package in North Carolina through the execution of options agreements covering three additional properties totaling approximately 141 acres. The acquisitions increase the Company’s consolidated land position to approximately 1,300 acres and secure potential areas that are interpreted to be along strike and dip of known mineralization. These transactions represent another important step in Metalsource’s strategy to systematically expand the Silver Hill area as drilling, geophysics and geological interpretation continue to enhance management’s understanding of the broader exploration opportunities.
Management will continue to evaluate strategic land acquisition opportunities that align with its evolving geological model, enhancing the Company’s ability to systematically explore and unlock Silver Hill’s broader potential.
Highlights: Land area expanded to approximately 1,300 acres through options agreements covering three additional properties.
The newly acquired land is interpreted to lie along the dip and dip of known mineralization and is part of the evolving Silver Hill geological model.
The expansion supports the company’s goal of evaluating the scope potential of the wider region beyond the mine’s historical footprint.
Exploration continues across Silver Hill with several tests pending while management develops its plans to increase drilling capacity.
Joe Cullen, CEO of Metalsource Mining, commented: “This is a strategic acquisition that we have been working on for some time. As drilling, geophysics and geological interpretation continue to improve our understanding of the Silver Hill system, it has become increasingly important to secure these highly promising properties while the opportunity is available.”
“We are grateful to the families who have owned this land for generations and appreciate the trust they have placed in our team. Each successful drill hole has strengthened our confidence in the broader region and helped define where we believe the next phase of exploration should focus. These newly acquired properties provide access to compelling exploration targets that we look forward to advancing in the near term as we continue to expand the known mineral footprint at Silver Hill.”
“As we approach increased drilling capacity, our vision is clear: one program focused on systematically expanding the Silver Hill area, while additional drilling evaluates high-priority regional targets resulting from our geological work and recent IP surveys. We believe we are still in the early stages of understanding the scale of this area, and we are excited about the potential for resource expansion and new discoveries.”
What’s Next: Multiple assays are pending from the current drilling campaign, and the results are expected to continue to advance the company’s understanding of the Silver Hill system.
Increased drilling capacity as management advances its plans to secure an additional drilling rig to accelerate testing of both known mineralization targets and newly identified exploration targets.
Testing the broader area through ongoing integration of drilling, IP geophysics and geological interpretation to prioritize additional targets beyond the mine’s historic footprint.
Continued strategic growth by evaluating additional land opportunities that complement the Company’s evolving region-wide exploration strategy.
The expansion of the Silver Hill land package reflects management’s growing confidence in the broader exploration potential of the area. As drilling, geological interpretation and property-wide geophysical surveys continue to improve the Company’s understanding of the system, Metalsource is strategically working to secure potential land that may host mineralization and additional high-priority exploration targets.
The newly acquired properties are expected to play an important role in the next phase of exploration. While the current drilling program continues to systematically expand the known Silver Hill deposit, these acquisitions place the company in a position to evaluate an increasing range of potential targets across the broader region as additional drilling capacity comes online.
With several pending drill holes, plans to accelerate exploration and an expanded set of high-priority targets, Metalsource believes it is moving from exploring a historic mine to systematically unlocking the broader region-wide potential of one of America’s most historically significant polymetallic mining camps.
The property is located in the Carolina Terrane, and is covered by mostly Neoproterozoic and Cambrian volcanic and sedimentary rocks. Current interpretations suggest that this terrain is an extension of the Avalon Terrane. The property is 1,225 acres and is located in Davidson County, North Carolina. As the first significant discovery and America’s first silver-producing mine, the property is supported by an extensive historical data set, including underground drilling and mapping data, historical dumps and underground chip samples. Currently known mineralization extends up to 550 meters from the surface, in a series of steep lenses, which remain open in multiple directions.
The Bird Mountain Pilot Project is located in central North Carolina within the Carolina Terrane. Initial USGS surveys in the 1980s identified the area as a potential host to the porphyry copper-gold system. Subsequent exploration revealed extensive gold mineralization in soils, trenches and shallow pits, in conjunction with potentially strong self-inflicted anomalies. The geology shows extensive alterations of quartz, sericite, and pyrite, high-sulfur imprints, and high-alumina minerals (e.g., the Hayley and Brewer deposits to the south), suggesting the possible presence of a large epithermal or porphyry-associated gold system. Geological modeling of the identified mineralization currently indicates an east-west trend open in multiple directions, with oxidation observed down to a depth of 30 metres. No drilling has been tested in the Meridian discovery area since the 1980s campaigns, leaving the potential to expand the resource significantly through work commitments set out in the agreement.
Metalsource Mining is a US-focused precious and critical metals exploration company developing the Silver Hill Project in North Carolina, widely recognized as America’s first silver mine. A historically productive mining district dating back to 1839, Silver Hill produced silver, gold, lead, and zinc during the formative years of the American mining industry and remains one of the most historically significant mining assets in the United States.
