MSM
E9Z
SFRIF
America’s First Significant Silver Discovery
The Silver Hill Project totals 1,128 acres located in Davidson County, North Carolina. The project area is entirely on privately owned land with no federal, state, or Native American ground, and features on-site roads, power and water.
Silver Hill provides a near-term opportunity for expansion of high-grade mineralization, supported by historic production, a documented historic estimate, and tested metallurgy.
Highlights
- Historical estimate: 347,422 tonnes grading 23.7 g/t silver, 2.17 g/t gold, 0.20% copper, 2.79% lead, 8.66% zinc*
- High-grade surface samples including SH25-003: 444 g/t silver, 17.7 g/t gold, 8.61% lead + 0.507% zinc
- Mineralization extends down ~1800 ft in steeply trending pods
- Potential for significant expansion of gold mineralization beyond the historic silver-zinc-lead system
*SRK Technical Memorandum Project #USPR001521, 2023) This historic estimate was characterized as "a mineral inventory" and was not calculated using CIM or SME defined standards and should not be considered mineral resources, but it merits stating as it shows the potential of the property. The mineral inventory relied on a MetVal calculation using the formula = (Ag OPT * Ag recovery * Ag US$/oz) + (Au OPT * Au recovery * Au US$/oz) + ((Cu % * Cu recovery * Cu US$/lb)/100)*2000) ((Pb % * Pb recovery * Pb US$/lb)/100)*2000) + ((Zn % * Zn recovery * Zn US$/lb)/100)*2000), where US$1805/oz Au, US$22.70/oz Ag, US$3.75/lbs Cu, US$1.34/lb Zn, US$0.94/lb Pb and recoveries Au 95.5%, Ag 89.9%, Cu 86.3%, Zn 91.4%, 84.5% Pb. A qualified person has not conducted sufficient work to define what work would be required to classify the historical estimate to meet current CIM definitions of a resource (this may require additional drilling and other work, as yet undefined). Metalsource Mining is not treating this historic estimate as current mineral resources and a qualified person has not reviewed the work to define the quality of the work associated with this historic estimate.
Highlight Historical Intercepts*
*Underground diamond Drilling
- Hole 5 - from 6.10 m: 17.68 m of 54.74 ppm Ag, 0.83 ppm Au, 0.05% Cu, 2.89% Pb, 5.41% Zn
- Hole 7 - from 1.52 m: 6.4 m of 161.81 ppm Ag, 43.94 ppm Au, 0.45% Cu, 11.83% Pb, 18.46% Zn
- Hole 8 - from surface: 14.02 m of 84.43 ppm Ag, 19.07 ppm Au, 0.52% Cu, 6.19% Pb, 28.16% Zn
- Hole 50 - from surface: 7.62 m of 99.92 ppm Ag, 4.2 ppm Au, 0.36% Cu, 17.22% Pb, 13.53% Zn
Project History
- 1838 – America’s first significant silver discovery, found at a depth of 20 meters
- 1898 – Samples from the upper 160 ft of the mine (post-closure) averaged 52.7 oz/ton silver and 6.07 oz/ton gold
- 1960 – Detailed surface/underground drilling and bulk sampling defined new mineralization separate from original mine
- 1973 – Multiple surface geophysical and geochemical anomalies generated along strike, most still untested
- 2023 – SRK Consulting 3-D modeled the 1960 program, revealing multiple intact mineralized lenses with significant mineralization and open in several directions
- 2024–25 – Multi-element assays confirm high-grade silver, gold, and base metals in bedrock and ore stockpiles; early indications of silver-gold-bearing horizons hosting massive sulphide lenses
