May 27, 2022
Reyna Silver Corp. (TSXV:RSLV, BUY (S), Timothy Lee) has commenced the 2022 exploration program on its 4,831 ha Medicine Springs project in Nevada. The 2022 exploration program is expected to include: 1) refining drill targets from historical data and the company’s recent Jasperoid sampling program, which unveiled a strong mineralized trend typical of the upper parts of a CRD system (read more), 2) further field studies, which include additional surface Jasperoid sampling, and 3) conducting a 5,000m – 7,000m drill program in H2/22, with permits pending. Notably, Medicine Springs was the site of small-scale mining in the early 1900s, and historic shallow drilling was conducted on oxide silver deposits. Those results, combined with more recent work, indicate that this may be the near-surface representation of a buried carbonate replacement deposit (CRD), which Reyna is now targeting. Reyna is conducting work at Medicine Springs as part of an earn-in and JV agreement with Northern Lights Resources (CSE:NLR, Not Rated), whereby it is earning an 80% interest in the project. Overall, we are encouraged to see the company begin further work at Medicine Springs. The initial Jasperoid sampling program yielded strong results, vectoring in on potential drill targets. As a result, this project has been brought up the priority list in Reyna’s portfolio, along with its flagship Guigui and high-grade Batopilas projects in Mexico. Read more
