Overview

Property

The Silver Peak Mining Project is an advanced exploration project focused on the past-producing Nivloc and "16-to-1" silver-gold mines in the Silver Peak mining district in Nevada. The Silver Peak Property consists of 3,943 contiguous acres covering no less than fourteen (14) fault zones, of which two (2) zones have historically produced 9.8 million oz of Ag and 52.9 thousand oz of Au.

As of April 5, 2012, thirty-seven (37) drill holes, totaling approximately 10,500 metres were completed on the Nivloc Mine portion of the property. Silver-gold mineralization at Nivloc is classified as being a quartz-adularia epithermal vein system. While the Nivloc Mine was mined and milled from 1937 to 1943 by Desert Silver Inc. a considerable un-mined (historic non NI 43-101 compliant and therefore not be relied upon) resource of 621,314 short tons at a grade of 4.5 oz/t Ag and 0.03 oz/t Au was documented by Anaconda Minerals Company in 1951 and by Sunshine Mining Company in the mid-1980s.

The 16-to-1 Mine was operated by the Sunshine Mining Company from February 1982 to June 1986.  During that period, the mine produced 907,185 tonnes grading 175 g/t Ag and 1.17 g/t Au (1.0 million tons grading 5.1 oz/ton Ag and 0.034 oz/ton, Au). This underground mine was developed on five (5) levels and was accessed by a 300 m long adit and a 600 m long decline. The adit, decline and approximately 3,500 m of underground ramps and drifting are readily available for exploration and potential future development of the “16-to-1 Zone" and other zones in the immediate area.

Silver Peak Claim Map - Google Earth View: Download & Open in Google Earth (Download Google Earth Technical Report on a Geological Mapping and Sampling Program)

Nivloc Silver & Gold Property Presentation: Download (4 MB)

 

Exploration Reports

16-to-1 Property (February 2018): Technical Report on a Geological Mapping and Sampling Program

Nivloc Area (August 2017): Technical Report on a Geological Mapping and Sampling Program


43-101 Technical Report: Inferred Mineral Resource

NI 43-101 Technical Report on the Nivloc Property, Esmeralda County, Nevada, USA

The Company is pleased to present its initial National Instrument 43-101 ("NI 43-101") compliant, independent Mineral Resource Estimate (the "Estimate") on its Nivloc Silver and Gold Project located in southwestern Nevada, USA (the “Nivloc Property”). The Estimate, is contained in the "NI 43-101 Technical Report on the Nivloc Property, Esmeralda County, Nevada, USA," which was prepared for the Company by Seymour M. Sears, a consulting Geologist based in Sudbury, Ontario; P. J. Hollenbeck, an independent resource modeling Geologist based in Colorado Springs, Colorado; and, A. David Heyl, an independent Geologist based in Denver, Colorado.

The report indicates that the area tested by the 2011 drilling program on the Nivloc Property contains an Inferred Mineral Resource, at 40 g/t Ag cut-off, of 1,640,000 tonnes at a grade of 106.47 g/t Ag and 0.78 g/t Au.

The Estimate relates to an area tested by 34 drill holes completed in 2011 and located within a 365 metre long portion of the northeast trending Nivloc Structure. This zone, referred to as the “Target Zone” lies between two small, previously mined zones within the northeast-southwest-trending vein structure and between the 200 and 800 foot level drifts in the old mine workings. The 800 foot mine level is approximately 900 feet vertically below surface, and the vein and workings dip from -45 to -65 degrees toward the northwest.  The structure has been traced at surface and in old development drifts for a distance in excess of 2,000 metres. The 2011 drilling program indicates that the area targeted within the Nivloc Structure ranges from 25 to 70 metres wide and contains several parallel vein zones that were the focus of previous mining at Nivloc. These vein zones are of relatively high grade, but the material separating them is also consistently mineralized and the entire structure may have potential as a bulk-minable deposit, but there can be no assurance of such potential until further work is performed.

The Technical Report recommends a Phase 1 exploration program having these objectives: 1) improving the level of confidence within the drilled area by tightening the drill spacing (at least 11 drill holes); 2) expanding the currently defined resource area by drill testing along strike towards the northeast and southwest (at least 5 drill holes); and 3) initiating preliminary metallurgical, and engineering studies and baseline data collection in anticipation of an underground exploration and development program (Phase II).  This recommended work program is expected to upgrade the resource from the inferred to the indicated category, but there can be no assurance of such an expected upgrade.  The recommended program includes a total of 16 drill holes (4,000 meters) and is estimated to cost approximately $1.3 million.


Ownership

The Silver Peak Property consists of 211 contiguous mineral lode claims covering 3,943 acres in the Silver Peak mining district, Esmeralda County, Nevada.

IMMC, through its wholly-owned subsidiary, International Millennium Mining Inc. ("IMMI"), holds 100% undivided interest in 186 of these claims, of which 122 claims are subject to a 1% Net Smelter Return (NSR) royalty. 

IMMC has optioned, and will acquire, the remaining 25 lode claims comprising the 16-to-1 Mine claim group by making cash payments of US$115,000 between 2017 and 2021, and by issuing 1,000,000 common shares of the Company. The 25 claims that make up the 16-to-1 Mine claim group are subject to NSR royalties that vary from 1.5% on 8 of the claims, of which 1.25% NSR can be purchased for US$190,000; 2.5% on 7 of the claims, of which 1.25% NSR can be purchased for US$110,000; and, 1.5% on 10 of the claims, of which 0.5% NSR can be purchased for US$500,000.

Exploration

The Company plans to complete the following work on the property in order to upgrade the resource from the inferred to the indicated category:

  • Infill drilling to tighten sample spacing within the resource area (11 holes)
  • Drill step-out holes to test extension of Nivloc Zone outside the mined area to the southwest and northeast (5 holes)
  • Metallurgical testing, Mineralogy & QUEMSCAN
  • Engineering and rock mechanic studies to determine the cost and feasibility of extending the existing decline into the old underground workings
  • Baseline geochemical sampling & soil geochemistry (MMI)
  • Construct a more detailed geologic model


Location

7 miles southwest of Silver Peak and 169 miles south-southeast of Reno, in Esmeralda County, Nevada.

Nevada-LocationMap-Nivloc