Natural resource company Unico has signed an agreement with Industrial Minerals Development (IMD) to drill and validate the upper tailings reserves at the Deer Trail Mine in the US state of Utah.
An agreement to drill the tailings has also been signed with professional geologist Frederic Johnson, the company said.
The main focus for the reserve calculations are silver, gold and the potential for tellurium.
IMD will determine locations for additional drill holes on the tailings from a study of maps, a possible re-survey of tailings and an on-site GPS location of any existing drilled-hole locations.
Unico CEO Mark Lopez said that the agreement enables the firm to finish a reserve calculation from the tailings and additional stockpiled material at the Deer Trail Mine.
“Due to the size of the potential reserves of the tailings and stockpiled material, Deer Trail Mining Company will aggressively seek to add other potential ore reserves located on the property, including gold and silver reserves,” Lopez said.
During and after drilling work, IMD will take custody of the samples for data plotting and assay determinations.
IMD will collaborate with employees of Deer Trail Mining to verify mill recoveries and an accurate tonnage factor for the tailings pile.
Once analytical work is completed, IMD will draft a preliminary report that will contain assay and comparable statistical data for evaluation.