CMX Gold & Silver Corp. (CSE: CXC) (OTC: CXXMF), an exploration-stage company advancing the historic Clayton Silver Mine in Idaho, is set to execute a comprehensive geophysical program this spring at its flagship property. The company announced plans for a 3-D Direct Current Induced Polarization (DCIP) survey and a Magnetotelluric (MT) survey to delineate known structures on the property, identify extensions of the partially mined ore body, and uncover potential new silver-bearing veins.
The geophysical program follows the company's announcement of a non-brokered private placement financing to raise gross proceeds of up to CAN$2,000,000 through the sale of up to 8,000,000 units at CAN$0.25 per unit (https://ibn.fm/lk61Q). The financing will support the exploration activities and general working capital.
The Clayton Silver Mine, a historic silver producer, was never fully explored, and its geology suggests the presence of many undiscovered silver-bearing veins formed similarly to those previously mined. The company believes that the comprehensive geophysical surveys will be instrumental in unlocking the property's full potential. The DCIP survey will help map the chargeability and resistivity of subsurface materials, while the MT survey will provide deep imaging of geological structures.
Investors can stay updated on the latest news and developments regarding CXXMF through the company's newsroom at https://ibn.fm/CXXMF. The company's strategic focus on advanced geophysical techniques aims to de-risk exploration and enhance the probability of discovering additional mineral resources. This initiative underscores CMX Gold & Silver's commitment to advancing the Clayton Silver Mine towards potential future production.
