Commonwealth Silver and Gold Mining Inc. focuses on acquiring and developing gold and silver properties in Cochise County, Arizona. The company controls approximately 3,900 acres of mineral rights. Its principal project consists of an option to acquire and direct ownership of an aggregate 98% interest in the historic Commonwealth mine and surrounding mining claims located approximately to the southeast of Tucson, Arizona. Commonwealth Silver and Gold Mining Inc. was incorporated in 2010 and is headquartered in Toronto, Canada.
10 King Street East, Suite 801
Toronto, ON M5C 1C3
Canada
Founded in 2010
Phone: 416-645-7471
Fax: 416-645-7491
www.commonwealthsilver.ca
Chief Executive Officer
Chief Financial Officer and Corporate Secretary
Vice President of Corporate Development and Director
Commonwealth Silver and Gold Mining Inc. Key Developments
Commonwealth Silver and Gold Mining Inc. provided the results that will be reported in its Preliminary Economic Assessment (‘PEA’) for the 98% controlled Commonwealth gold and silver project in Cochise County, Arizona, approximately 120 km (75 miles) southeast of Tucson. The PEA was completed in accordance with National Instrument 43-101 (‘NI 43-101’) by Hard Rock Consulting, LLC (‘HRC’) of Lakewood, Colorado. Average annual payable metal production of 35,800 ounces of gold and 1.3 million ounces of silver for total LOM production of approximately 312,000 ounces of gold and 10.9 million ounces of silver. Average annual gold equivalent (‘AuEq’) production of 57,000 ounces AuEq at 60:1 gold to silver ratio, peaking at approximately 69,000 ounces AuEq in year 7. The Mineral Resource estimate, before designing an engineered pit, is based on a 3D geologic model constructed using geologic and assay data from approximately 23,085 meters of drilling in 208 drill holes (155 historic and 43 drilled by the Company) and 2,984 meters of channel sampling in 209 channel sample lines. The assay data was examined for the presence of high grade outlier data which could potentially adversely impact the grade estimation. Based on this analysis, all gold and silver assays were capped at 10.0 g/t and 1,000.0 g/t, respectively. The capped assay data were then composited into 4.0m down-hole lengths for use in grade estimation. Block grades were estimated using inverse distance weighting (“IDW”) interpolation methods, specifically ID(2.5).
Commonwealth Silver and Gold Mining Inc. announced that it has received the results of its updated National Instrument 43-101 compliant, independent Mineral Resource estimate completed by Hard Rock Consulting, LLC at its Commonwealth gold and silver project in Cochise County, Arizona, approximately 120 km (75 miles) southeast of Tucson. The effective date of the estimate is June 10, 2013. This updated Mineral Resource estimate incorporates approximately 5,500 meters of additional diamond drilling in 37 drill holes conducted at the Commonwealth Project during late 2011 and 2012 after the completion of the initial Mineral Resource estimate on the Project. The Mineral Resources for the Commonwealth gold-silver Project, are estimated by HRC to be 26.003 million tonnes grading an average of 0.47 g/t Au and 38.6 g/t Ag classified as Measured and Indicated Mineral Resources with an additional 7.380 million tonnes grading an average of 0.29 g/t Au and 17.2 g/t Ag classified as Inferred Mineral resources. All of the estimated Mineral Resource is based on a 0.4 g/t gold equivalent cut-off.
Commonwealth Silver and Gold Mining Inc. announced that Katrin Tosine, Vice President, Investor Relations has left the company to pursue other opportunities.
CommonwealthMine.org 