Hughes Project
Nevada, USA
The Tonopah District
Discovered in 1900, Tonopah quickly became known as the Queen of the Silver Camps, with people from all over the country rushing to Nevada in hopes of making their fortunes. Over the next half century, the Tonopah district produced 175 million ounces of silver and 1.86 million ounces of gold from 8.8 million tons of rock. Today, the existing infrastructure supports mineral exploration and development in the well-established historic mining district.
Historic Production Source: United States Geological Survey, 2018
Tonopah Railroad, 1908
A World-Class Mining Jurisdiction
Nevada
- Top-3 ranked Global Mining Investment Jurisdiction
- 5.6M oz of gold production annually
- Originally known as the Silver State
Walker Lane Trend
- Endowment of at least 80 M oz of gold
and 700 M oz of silver
Source: Nevada Bureau of Mines
“Located in the heart of the famous historic Tonopah District and covering 5km of its possible eastern extension, the Hughes Project represents a unique opportunity to both revitalize a historic district and make new discoveries in the shadows of the headframes of some of America’s great historic silver producers.”
Galen McNamara
Silver47 CEO & Director
Project Highlights
Indicated and Inferred Mineral Resources for the Hughes Project are presented using a 190 g/t AgEq cutoff grade for in situ resources, and a 45 g/t AgEq cutoff grade for resources in tailings. For Hughes Project Indicated and Inferred Mineral Resources, AgEq is based on silver and gold prices of $25/oz and $2100/oz respectively, and metallurgical recoveries of 90% and 97% for silver and gold, respectively. AgEq Factor= (Ag Price / Au Price) x (Ag Rec / Au Rec); g AgEq/t = g Ag/t + (g Au/t / AgEq Factor). *AgEq is calculated using US$20/oz Ag, US$1,800/oz Au, with metallurgical recoveries of Ag – 90% and Au – 95%. AgEq = (Ag grade x Ag recovery)+((Au grade x Au recovery) x (Au price / Ag price)). Silver and gold grades comprising AgEq are listed on page titled “Hughes Property Drilling” in this presentation.
Sources: Company websites, presentations, and 43-101 technical reports.
Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company’s property.
Hughes Mineral Resource Estimates
Quartz-adularia-argentite vein from the Belmont Mine
Geology
The Tonopah mining district is an intermediate sulfidation epithermal vein system. Productive veins in the district are hosted in volcanic rocks which range in composition from andesite to rhyolite. High-grade mineralization in the veins consists of argentite, polybasite, electrum, sphalerite, galena and chalcopyrite. The host volcanic rocks adjacent to the veins are altered to quartz, sericite and adularia. This zone of potassium-silica alteration grades outwards into an argillic zone of alteration consisting of kaolinite, halloysite, sericite, and montmorillonite, which in turn grades outwards into propylitic alteration.
The Belmont Mine
*AgEq is calculated using US$20/oz Ag, US$1,800/oz Au, with metallurgical recoveries of Ag – 90% and Au – 95%. AgEq = (Ag grade x Ag recovery)+((Au grade x Au recovery) x (Au price / Ag price)). True thicknesses are estimated to be 70-80% of drilled intercept length
Land Position, Access,
and Infrastructure
Road Access
with multiple dirt roads and trails
U.S. Highway 6
crosses the project
Optimal Project Terrain
plus, powerline crossings
Tonopah – by the numbers
Km Tonopah District Strike Length
Million ounces Ag
Million ounces Au
g/t Ag Eq Head Grade
679 g/t Ag
7.3 g/t Au
Additional Km Exploration Potential on Project
Tonopah
5km Exploration Potential on Project
175M Oz Ag + 1.9M Oz Au
Guanajuato
815M Oz Ag + 3.6M oz Au
San Dimas
582M Oz Ag + 11M Oz Au
Pachuca
1,500M Oz Ag + 6.2M Oz Au
Comstock
200M Oz Ag + 8.3M Oz Au
Tonopah
175M Oz Ag + 1.9M Oz Au
+ 5km Exploration Potential on Project
Guanajuato
815M Oz Ag + 3.6M oz Au
San Dimas
582M Oz Ag + 11M Oz Au
Source: USGS
Mineralization hosted on adjacent and/or nearby and/orgeologically similar properties is not necessarily indicative of mineralization hosted on the Company’s project.
*AgEq is calculated using US$20/oz Ag, US$1,800/oz Au, with metallurgical recoveries of Ag – 90% and Au – 95%. AgEq = (Ag grade x Ag recovery)+((Au grade x Au recovery) x (Au price / Ag price)). Click here to view silver and gold grades comprising AgEq.
Technical Report
Hughes Silver-Gold Property Technical Report
Effective Date: October 22, 2024
Qualified Person under NI 43-101
Galen McNamara, P.Geo., the Chief Executive Officer of the Company, and a qualified person pursuant to NI 43-101, has reviewed and approved the scientific and technical information contained on this website. Mr. McNamara has verified the data disclosed herein, including sampling and drilling data underlying the technical information contained herein, by reviewing blanks, duplicates and certified reference material that the Company inserted into the sample stream and confirming that they fall within limits as determined by acceptable industry practice.
Latest news on Hughes Project
Silver47 Launches Drilling on the Eastern Extension of the Tonopah High Grade Silver District, Hughes Project, Nevada
Silver47 Unveils Plans for Aggressive Drill Program Across the Eastern Extension of the Prolific Tonopah Mining District, Hughes Project, Nevada
Silver47 Begins Metallurgical Testwork to Confirm Reprocessing Potential of Historic Mine Tailings at Hughes, Nevada
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