The 10 holes are part of a 30,000-35,000m Phase 1 drill programme that commenced in September 2019. The goal of this programme is to define a high-margin project with scale that retains excellent leverage to rising metal prices.

Taj Singh, president and CEO, said: "These drill results are particularly positive for two reasons. First, they confirm that higher-grade breccia-hosted Ag-Au-Pb-Zn mineralisation extends to the north-east beyond the previously defined limits of the Pozo de Plata zone. Second, drilling along the southernmost vein trend intercepted multiple sulphide veins that returned kilogramme per tonne silver-equivalent intercepts.

"The first-ever drill test of veins highlights the excellent potential that may exist within this and other vein trends on the property. Follow-up drilling that targets expansion of higher-grade resources, is planned on both the north-east extension and the vein targets, as soon as exploration resumes at Cordero." 

Gernot Wober, VP exploration, added: "We have made significant strides in our geological understanding of Cordero since we acquired the project last year. Our starting point was a very large polymetallic system with over one billion tonnes of mineralised rock containing Ag, Pb, Zn and Au minerals and it is becoming clear that the large size of this system is a reflection of robust and long-lived structures that transported the mineralising fluids. It seems that these structures define the dominant north-east trends of the historically mined veins and the higher grade breccias. The critical opportunity for the company, and the focus of our Phase 1 drill programme, lies in the delineation of the higher-grade mineralisation along these trends."

Prior to the temporary suspension of exploration drilling activities at Cordero due to COVID-19, 48 holes totalling 17,500m had been completed. Assays from 24 holes are pending. All holes have been drilled roughly perpendicular to the northeast trend of higher-grade blocks outlined in the Levon Resources Ltd 3 resource model.

Five holes drilled in the corridor to the north of the main Cordero Fault all intercepted silver-rich breccia mineralisation. Two of the holes, located along the northeast extension of the well-mineralised Pozo de Plata zone, both returned higher-grade intervals with excellent continuity. Follow-up drilling is planned to test the potential of the north-east extension of the North Corridor when exploration activities resume. 

The other five holes were drilled on the margin of the Southern Corridor into the previously untested southernmost vein trend. All holes intercepted Ag-Pg-Zn rich vein mineralisation. The objective of these holes was to improve the company's understanding of the structural and geological controls on the sulphide veins. These early results are very encouraging; highlight intercepts include 1.2m of 1,436g/t AgEq2 in Hole C20-310 and 0.6m of 2,929g/t AgEq2 in hole C20-312. These results will be reviewed in conjunction with a survey of historical underground workings ahead of a planned ramp-up of drilling of the vein targets when exploration activity at Cordero resumes. 

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