MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG” or “MAG Silver”) announces an Agreement to consolidate and acquire 100% of the silver-rich Deer Trail Carbonate Replacement Deposit “CRD” project in Piute County, Utah (the “Deer Trail Project” or “Project”). The Project includes 111 patented and 682 unpatented claims (approximately 5,600 Ha) encompassing the historic Deer Trail Mine and the adjoining Alunite Ridge area. This is the first time since the early 1980s that these properties have been consolidated, allowing MAG to apply an integrated district-scale exploration approach based on the continuum of mineralization styles from CRD through Skarn to Porphyry Copper-Molybdenum shown by many related systems worldwide. This model suggests that the high-grade silver, gold, lead, zinc and copper CRD sulfides of the Deer Trail mine are linked by kilometres of continuous mineralization to a Porphyry Copper-Molybdenum centre lying to the west near Alunite Ridge.
Phase I exploration, focused on following the silver-rich Deer Trail mine CRD mineralization to depth, is well advanced using a combination of historic and new data reinforced by an underground seismic survey planned for late September. Initial drill pads are permitted and drilling is planned for early October, 2020.
“Deer Trail has been on my exploration radar since 1982, as it displays the most important characteristics of a large Porphyry-related CRD system. Consolidating the property lets us apply our integrated exploration model and apply new technology to the search for the entire suite of mineralization styles that we expect to occur on the property,” said Dr. Peter Megaw, MAG Silver’s Chief Exploration Officer. “Our experienced CRD exploration team is excited to see what unfolds over the next few months as we begin drilling for more extensive high-grade silver-gold-lead-zinc CRD and skarn mineralization below the historic mine.”
“Utah is a new jurisdiction for MAG and we are very pleased with the outpouring of positive support for the Deer Trail Project from this historically mining-friendly community,” said George Paspalas, MAG Silver’s President and CEO. “As we integrate into the community, we are operating in a manner that reflects our values; commitment to health, safety, social responsibility and environmental stewardship. We expect to be here for some time.”
