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Friday, 19 April 2013
Global Minerals CEO updates on plans for Strieborna deposit in Smallcaps.us interview
Global Minerals' (CVE:CTG) president and CEO, Bill Pincus, has been featured in an interview today with Smallcaps.us, where he updates on the current activities and his plans for the 100 per cent owned Strieborná silver/copper project in Slovakia.
In the interview, he talks about being located in the Slovak Republic and the company’s "excellent relationship" with the local community. He furthermore gives the details on the ongoing underground drilling activities and the upcoming resource estimate and preliminary economic assessment (PEA). He also shares his thoughts on how to raise the necessary money to once again start silver production from Strieborná.
Earlier this month, Global Minerals saw its shares surge after it said that drilling continues to confirm the high grade nature of the vein in the upper portion of its Strieborná deposit.
The company noted that the upper portion of the deposit, as part of its mine planning study, is expected to be mined first. Highlights from the results of eight holes from its ongoing infill and expansion underground drill program include drill hole STR-06-12-009, which intercepted 5.6 metres at 453 grams per tonne (g/t) silver and 1.8 % copper.
Drilling continues from the second, southwest drill platform to test for grade continuity and new areas that may lead to resource expansion, the company said, adding that the results will be used in an updated resource estimate and ongoing economic assessment - expected in the July-September quarter this year.
The high-grade, Strieborná silver-copper vein type deposit is located in an historic mining district near the town of Roznava. The former Mária mine site, which sits on land owned by Global Minerals, provides space for infrastructure and facilities that are necessary for ore processing and tailings disposal. Underground access is also available through the workings of the past producing Maria mine.
In March, the company signed a cooperation agreement with the municipality of Roznava to develop Strieborná, and also inked a deal to buy a tailings facility adjacent to the planned processing mill site for 2.5 million euros.