Blackberry’s immediate objective is to optimize the current silver/gold resource suitable for open pit mining described by M3 Engineering in their 2012 preliminary economic assessment (PEA) of Nieves and increase the size, grade and classification of the silver and gold resource through infill and step out drilling. This will support the production of 4,000,000 to 5,000,000 ounces of silver annually for a minimum of 10 years. Such a resource would be highly desirable to best-of-class silver miners seeking their next mineable silver resource. Achieving this objective would assure Blackberry members a positive return on their investment and de-risk the project’s future exploration.
The Nieves silver property is located 90 km north of Fresnillo, an analogous deposit to Nieves and the largest silver producer in the world. Nieves is 156 km southwest of Peñasquito, the world’s largest silver reserve, the world’s second-largest gold producer, and sister property to Nieves. Nieves is a silver, gold, lead, and zinc property.
To achieve our goals, a comprehensive exploration program will be conducted at Nieves. The program will involve a series of surveys, including magnetic, geological, and geochemical surveys, to identify potential drill targets. The data collected from these surveys will be analyzed to determine the location of the intrusive source of mineralization and other magnetic anomalies that may indicate the presence of undiscovered veins.
Once the potential drill targets have been identified, a drilling program will be initiated to test the targets and assess the silver content of the mineralization. The drilling program will involve both core drilling and reverse circulation drilling to provide a comprehensive understanding of the mineralization at Nieves.
Pit Resource Expansion
We are currently working towards the goals and objectives of our Pit Resource Expansion Pan. BBV is presently expanding our drilling program by drilling core holes averaging 270 meters in depth. The expansion is based on using geophysical data with drilling data and analysis to show potential vein targets. The timeline for this expansion plan is an estimated 18 months.
We are currently in development of an exit plan. Blackberry Ventures LLC’s business plan calls for finding, delineating, and assessing a plus-billion ounces silver resource, demonstrating the economic feasibility of mining the resource, and exiting through a sale, joint venture or exploration option (“farmout”) to a best-in-class mining group while Nieves is still in development.