VANCOUVER — The silver market has declined since cash rich explorer Levon Resources (TSX: LVN; US-OTC LVNVF) last released a resource estimate at its wholly owned Cordero silver-zinc-lead project in Chihuahua, Mexico, but lower metal prices haven’t prevented the company from significantly boosting the project’s global in situ silver ounces. On Sept. 3 Levon announced an update at Cordero that features a 57% increase in total indicated resources.
Levon’s exploration has been focused within the Cordero porphyry belt in the southern tier of its main claim block. The belt is defined by 15 km of strike with widths ranging from 3 km to 5 km over six mineralized porphyry and diatreme intrusive centres. Grid drilling has subsequently confirmed that the Pozo de Plata diatreme, the Josefina mine zone and the Cordero porphyry zone discoveries merge into a single large scale bulk tonnage, open pit mineral resource.
Back in 2012 Levon identified an undrilled gap in the central part of its existing resource that occupied an unconsolidated area of Cordero called the Aida claim block. The company picked up a 100% stake in Aida in July 2013, and proceeded with drilling to tack on additional resources. Levon subsequently completed around 13,100 metres over 24 holes during its phase four program before announcing “better-than-expected” results in late April.
Read the complete article at NorthernMiner.com/news/levon