CMX Gold & Silver CEO Jan Alston: Rediscovering a High Grade Silver Mine in Idaho
CMX Gold & Silver (CSE:CXC,OTC Pink:CXXMF) CEO Jan Alston discussed the company’s prospects, namely the unique opportunity at the formerly producing Clayton silver mine in Idaho.
“What really attracted me to it is that it was never mined out,” Alston said. “So I don’t have to go out and find a mine, I just need to determine how much is left.”
Alston discussed how miners in the area found successful veins and pursued them without exhausting the resource. “We could have a parallel vein that nobody’s looked for before, so we will do some geophysics and start probing around and stepping out … the best way to look at it is that we’re rediscovering a high-grade silver mine — Clayton silver was relatively high grade and one of the biggest silver mines in Custer County, Idaho,” he said.
Speaking to the economic side of the pursuits, Alston said, “I think we’re at the very early stages of an extended commodity boom for metals because it’s needed — the supply hasn’t been building, but the demand has.” With regards to the long term, he noted, “We put together a plan to spend just a little over a million dollars, because we’ll start relatively shallow. We know that there is opportunity around some of the old orebodies. So what we want to do is drill and prove up some resources around the old orebodies that weren’t mined out.”
For short-term cash flow, Alston spoke about CMX Gold & Silver’s stockpile of approximately 500,000 to 1 million tonnes. This is the raw material that historical miners left behind due to grade and limited processing technology. He discussed sorting technologies that can process the stockpile and retrieve valuable metals like silver, which is relied upon for industrial solar panels, electronics and more.
“They would take that rock that has minerals in it and just throw it on a stockpile,” Alston said. “And so we have a pretty significant stockpile there. We always knew that it had a lot of potential value, so five or six years ago we did an assessment of 16 locations for a detailed mineral assessment. It showed that there’s silver, gold, lead and zinc.”
Watch the full interview of CMX Gold & Silver CEO Jan Alston above.
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