Nevada Silver Corporation Acquires Historic High-Grade Silver Mines South of the Corcoran Silver-GOLD Project, Nevada, USA
NEVADA SILVER CORPORATION ACQUIRES HISTORIC HIGH-GRADE SILVER MINES
SOUTH OF THE CORCORAN SILVER-GOLD PROJECT, NEVADA, USA
Toronto, Ontario, 2nd February 2022: Nevada Silver Corporation (“NSC” or the “Company”) (TSXV: NSC)
(OTCQB: NVDSF) is pleased to advise that it has filed 124 new claims and reached agreement to acquire a
number of patented claims, to cover two areas of extensive historic silver mines 15 kilometers southwest of
the Company’s 100% owned Corcoran Silver-Gold Project and 80 kilometers north-east of Tonopah in central
Nevada (Figure 1). A total of 2,800 acres of unpatented and patented claims have been secured.
The new NSC claim areas (Belmont Silver Project and the North Belmont Silver Project) surround or cover
the majority of old silver workings of the Belmont silver mining camp near the historic Belmont town.
Belmont was among the earliest and richest silver mining camps in the Tonapah district with an estimated ore
head-grade averaging 25 ounces per ton of silver. Historical accounts describe numerous prospect pits and
mine openings of shallow underground workings with richest ore above the water table where silver occurred
mostly as silver chloride (cerargyrite). Silver-bearing sulfides together with copper, molybdenum, lead, zinc
and antimony minerals were reported at depth.
During the camp’s silver mining heyday between 1865 and 1889 Belmont’s population was about 10,000 and
the town was the seat of Nye County Government. 1887 silver production from the district was estimated as
$3,793,103 (1887 value) from 58,906 tons, more than $110,000,000 in today’s dollars1. Most mining activities
are thought to have been suspended when mine dewatering reduced the Belmont township water supply.
Belmont Silver Project
Accounts of mining activities in the main Belmont mines suggest the two principal shafts (Highbridge (110
meters) and Belmont (180 meters)) were connected on the 300-foot level and that the 500-foot level
contained a ‘large tonnage of ore’. Two main vein systems were mined. The eastern veins (Highbridge and
Transylvania ledges) were hosted in slate and limestone and dip easterly at 40-50 degrees. High-grade
mineralization was reported adjacent to hanging walls of massive quartz veins and generally conformable
with strata of Ordovician shale, quartzite and limestone.
Between 1915-17 the Monitor-Belmont Company treated some remaining mine dumps and in 1918
dewatering of old workings was undertaken by the Nevada Wonder Mining Company although no
underground production was reported. There has been negligible exploration during recent decades despite
high-grade silver samples (up to 5,000g/t silver) collected from remnant dumps during a surface geochemical
study of the Belmont silver district by the US Geological Survey in 1985.
North Belmont Silver Project
At the North Belmont Silver Project two separate clusters of historic silver workings are located in quartz vein
systems hosted by Ordovician rocks. The northernmost mined area has five old shafts on a near vertical
quartz-vein zone trending 030o within thin-bedded silicified limestone. Mine dumps include pyrite, galena,
stibnite and tetrahedrite ore minerals.
Seven shallow inclines and numerous prospecting cuts occur in the southern workings north of Belmont town.
These workings expose a NW trending quartz vein breccia zone formed along bedding planes in limestone.
1 Part of the total production may not have been recorded with the State as often happened in the early days of Statehood;
Lincoln reports a much higher figure. University of Nevada Bulletin Vol. XLV, January 1951 No. 3.
2
Figure 1. Claim location map of Nevada Silver Corporation’s Belmont Silver, North Belmont Silver and
Corcoran Canyon Silver-Gold Projects.
Exploration Targets
At the Belmont Silver Project silver-base metal deposits could extend along trend from the old workings and
at depth beneath the mined lodes and other near-surface, silver-quartz veins may not have been identified
by early miners because of poor outcrop and widespread talus.
The depth and lateral extent of mineralization in both projects has not been determined and the Company
intends to undertake mapping, geochemical assessment and surface geophysical surveys in early 2022
followed by drill testing of priority targets.
Comments
NSC’s CEO Gary Lewis commented, “The addition of these projects cements NSC’s footprint in an historic silver
mining camp which has been overlooked for more than 100 years. Considering the very high reported silver
ore grades in relatively shallow mine workings we are surprised that exploration drilling for remnant silver has
not been undertaken.“
Corcoran Canyon
Ag-Au deposit
Corcoran
Canyon Silver-
Gold Project
North Belmont
Silver Project
(36 claims)
Belmont Silver
Project
(88 claims)
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“Located close to Corcoran, Belmont offers the company considerable logistic synergies for exploration and
importantly, successful discovery would influence future development options.”
“We believe that low-cost geophysical surveys in coming weeks will identify drill targets both beneath and
along trend from the old workings and our technical team have commenced exploration planning and
permitting.”
Qualified Person
The scientific and technical data contained in this news release was reviewed and approved by Ian
James Pringle PhD, who is a Qualified Person under National Instrument 43 -101 Standards of
Disclosure for Mineral Projects.
For further Information please contact:
Gary Lewis
Group CEO & Director, Nevada Silver Corporation
T: +1 (416) 941 8900
About Nevada Silver Corporation
Nevada Silver Corporation (TSXV: NSC) (OTCQB: NVDSF) is a multi-commodity resource company with
two exploration projects in the USA. NSC’s principal asset is the Corcoran Silver-Gold Project in Nevada.
In addition, NSC has management and ownership rights over the Emily Manganese Project in
Minnesota, which has been the subject of considerable technical studies, with US$24 million invested
to date. Both Corcoran and Emily have been the subject of National Instrument 43-101 compliant
mineral resource estimates.
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of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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which are too speculative geologically to be classified as mineral reserves, uncertainty regarding the ability to
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