Capstone Mining Corp. (TSX:CS) has received additional high-grade copper and silver results from five infill and 22 stepout drill holes at its Cozamin copper-silver mine in Zacatecas State, Mexico.
The drilling programme, aiming to double the current reserve base, is three months ahead of schedule with 177 holes of the 200 hole program completed.
The company said the results continue to demonstrate greater widths and higher grades than current Mineral Reserves, as well as the potential for an expanded high-grade resource.
An updated Mineral Resource and Mineral Reserve estimates will be completed in late 2020.
Darren Pylot, Capstone’s President and CEO, said Cozamin is expected to achieve a 50% increase to annual copper and silver production of 50 to 55 million pounds and 1.5 million ounces, respectively, by 2021.
Brad Mercer, SVP Exploration and Operations, said the drill results, as well as a set released in January, are amongst the best ever drilled at Cozamin.
“Despite the temporary ramp down of operations at Cozamin, due to COVID-19 restrictions in Mexico, we are well ahead of schedule and still expect to deliver an updated Mineral Resource and Mineral Reserve estimate and Technical Report by the end of this year,” Mr Mercer said.
Mr Pylot said the results support the company’s belief that Cozamin will remain a crown jewel asset for this decade and longer.