I'm excited to re-enter capital markets and mining, after a one-year hiatus, by optioning two past-producing, silver mines near Kingman, Arizona for a private company I started last year called, "BDR Resources Corp." (www.bdrresources.com <http://www.bdrresources.com/> )
The Silverado & Hibernia Silver Mines Project is 2,882 acres (1,116 hectares) and is the home of two high-grade, underground silver mines. Silverado & Hibernia produced until 1929 and into the 1960's, respectively. It has no modern, systematic exploration done to date. I visited the mines two weeks ago and was impressed with what I saw and learned.
A 2008 NI 43-101 technical report highlights:
* The Hibernia Project constitues a property of merit due to the excellent potential for the delineation of a bonanza type epithermal silver-gold deposit based on the persistent structure, significant silver-gold values, limited previous work and recessive nature of the host rock.
* Reports from the late 1800's indicate that ore assaying 100 to several hundred ounces per ton silver was shipped from the Hibernia Mine. Sulphide ore is reported at 60 feet in the Silverado shaft that assayed 470 oz/ton (13,324 g/t) Ag.
* Recent results from the property include a 206.3 oz/ton (5,848 g/t) Ag with 0.28 (7.94 g/t) Au obtained in 1986 and maximum values of 45.5 oz/t (1,290 g/t) Ag and 0.45 oz/t (12.8 g/t) Au in 2007 from a shaft 400m northwest of the Hibernia decline. The gold values suggest a donation to the north with increasing gold:silver ratios
The vendor of the property, a Professional Geologist, Mining Engineer Technologist and "Qualified Person", has over 30 years experience in the minerals industry including 18 years of senior officer experience with public mining companies and more than 25 years experience in gold and silver exploration, development and production in North America. His last two personal property transactions have had multi-million ounce Silver & Gold discoveries. - One of those discoveries is near the Hibernia & Silverado Silver Mine Project.
We began our 'Phase One' exploration program on April 16 after signing an option agreement to earn a 100% interest in the Project on April 11, 2012 (5 year option with escalating payments totalling $500,000 cash; 1,200,000 shares; $1,100,000 in exploration expenditures; 2% NSR with a 1% buyback for $1,000,000).
The program consists of mapping, a 280 geochemical soil sample program, and ground-geophysical Magnetic and VLF-EM (very low frequency electro-magnetic) surveys. The program is nearly complete and will be in results, review and reporting stage shortly.
The Silverado Mine is accessible by taking highway 93 towards Kingman from Phoenix (235km away) and then a dirt road for 9 miles. From the Silverado Mine, it's nearly a 45 minute relatively easy trail to the Hibernia Mine. I plan on visiting again in early June with the Qualified Person who will write the updated 43-101, you are welcome to join!
I also brought back some ore from the Hibernia mine dump, which may assay similar to the 43-101 samples of 40 oz/t Ag. The work we are doing now on the property should begin to indicate some of the geological structures and help plan a 2nd phase exploration program.
The intent of the work program is to further qualify it as a property of merit and commission an updated NI 43-101 technical report for the purpose of listing BDR's shares and an Initial Public Offering on the Toronto Stock Venture Exchange by the fall of 2012.
I have attached BDR's Fact Sheet for your review, which is available alongside the 43-101 on our website at http://www.bdrresources.com <http://www.bdrresources.com/> .
I look forward to reconnecting with all of you as BDR builds from 'the ground up' in hopes of making a silver discovery.
If you have any questions, comments, referrals or want to learn more about our finances and plans for future acquisitions / growth in the meantime, I'm available at your convenience to listen, answer and share more of this story.
rahim.jivraj (at) springandmercer.com
Subscribe via email, get all daily posts sent to you next day (and without all the annoying ads)
Scumball scamrunner Rahim Jivraj's latest venture is BDR Resources, which is looking to rip you off as from later this year when it floats on the TSXV. Here below is the mailer this thief and liar is now sending to his "friends" (note to Rahim; beleive me, there are plenty who are much less friendly with you than you'd imagine).