TMRC Announces Successful Completion of Geophysical Investigation in the Blackhawk Silver/Nickel/Cobalt Mining District, Identifies 16 Potential Drill Targets

SIERRA BLANCA, TX, July 21, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Texas Mineral Resources Corp. (OTCQB: TMRC)

• Successful completion has resulted in plans underway to initiate permitting to conduct a confirmatory drilling campaign
• Results of final geophysical surveying confirmed the identification of  16 drill targets within the Alhambra mine area
• All potential targets lie within 120 feet of the surface
• Target characteristics conform with known mineralized structures in the area

TMRC is pleased to announce the successful completion of its geophysical investigation using multiple variations of EM (electro-magnetic) geophysical surveying within the Black Hawk mining district, Grant County, New Mexico. Work has been centered around the historic Alhambra Mine which was chosen as the initial area of investigation because of favorable topography and availability of historic data.

Background

The Black Hawk Mining District, Grant County, New Mexico is one of a genetic type of ore deposit commonly called the “Five Element Veins.” These geologically distinctive deposits are relatively rare but include some of the most famous and productive historic silver districts, notable among which are Jachymov, Czech Republic; Anneberg and Freiberg, Saxony; Schneeberg, Bavaria; and Cobalt Ontario. They are characterized by small but exceedingly high grade ore bodies containing metallic silver, nickel and cobalt arsenides, and the uranium oxide mineral uraninite. These historic districts, with the exception of Cobalt Ontario which had no uranium, have been notable producers of all four of these metals. The U.S. Government officially lists nickel and cobalt as Critical Minerals, while both are also designated as “essential to national defense” under the Defense Production Act of 1950.  

The overall production of the European districts is not accurately recorded but Cobalt is credited at approximately 460 million ounces. The older districts are likely comparable. A common characteristic of the historic districts is the large number of veins within a relatively small area. Cobalt, Ontario is estimated to have at least 200 veins within an area of 1.8 by 1 mile, and Jachymov 105 mapped veins within a 3.5 by 2-mile area. The Black Hawk district by comparison is approximately 2 miles by 1 mile in size and, based on the geologic map in USGS Bulletin 1009K, has 157 mapped carbonate veins, 27 of them with observed silver or uranium occurring at the outcrop.