Mining
Affinity Metals: on the hunt for the next Sullivan Mine
By Galit Solomon and Annemarie Brissenden for The Richmond Report
May 8, 2020
4 min. read
Here's what you need to know
- Assays from the 2019 drill program are due back soon – between the grab samples and the location, their results look promising. It makes sense to buy now while the stock is still relatively unknown.
- Independent geophysics point to an exciting target – it has the same geological signature as the Sullivan Mine, only larger.
- Tight share structure – with only 33 million shares outstanding and insiders hold approximately 85 per cent, the stock has not been diluted. That means those who invest could see an even greater return on a per ounce basis when the stock moves.
Located in British Columbia, Canada, the Sullivan Mine ran for nearly a century and produced $50 billion in silver, lead, and zinc. With such a history, it’s no wonder that prospectors and explorers have been searching for the next Sullivan Mine ever since it closed in 2001.
The team behind Affinity Metals (Affinity) believes that with their Regal Project, they may have found it. Located on 8,800 hectares in the northern region of the prolific Kootenay Arc Trend, just 25 kilometres away from Revelstoke, B.C., grades from recent grab samples from the property come in at 4,410 g/t Ag, 5.68 g/t gold, 2.27% copper, 26.4% zinc, and 21.56% lead.
“Affinity is showing a lot of promise in 2020. Assays from the 2019 exploration program are due shortly, and drilling is set to begin on a very exciting target.”
Greg Beckett, Senior Analyst and Chartered Investment Manager for the Richmond Club
We’ve identified two world class targets
“Using two independent geophysical surveys, we’ve identified two world class targets,” says Rob Edwards, Affinity’s president and chief executive officer. “The primary target was identified independently by geophysics and an acoustic survey. It shares the same geological signature as the Sullivan Mine and even appears to be larger.” The project is located within proximity to other properties that have large gold resources.
“The property is home to two past producing mines and a pre-43-101 historic resource,” explains Edwards. “The infrastructure needed to support our operation is already in place, with road access directly off the Trans-Canada Highway and within proximity to a main power line.”
Affinity is showing a lot of promise in 2020
“Affinity has a 100% interest in the Regal Property, and we are ready to do some good exploration work in the coming season,” adds Edwards. “We know that the property is very mineralized. We can pick up samples anywhere and so we don’t have to dig very deep.”
“Affinity is showing a lot of promise in 2020,” says Greg Beckett, Senior Analyst and Chartered Investment Manager for the Richmond Club, who picks stocks for the Richmond Club Index, which has averaged a return of 20.4% per year over the last 15 years. “Assays from the 2019 exploration program are due shortly, and drilling is set to begin on a very exciting target.”
Beckett’s reasons for investing in Affinity:
- Assays from the 2019 drill program are due back soon – between the grab samples and the location, their results look promising. It makes sense to buy now while the stock is still relatively unknown.
- Independent geophysics point to an exciting target – it has the same geological signature as the Sullivan Mine, only larger.
- Tight share structure – with only 33 million shares outstanding and insiders hold approximately 85 per cent, the stock has not been diluted. That means those who invest could see an even greater return on a per ounce basis when the stock moves
For More Information Please Contact Rob Edwards, CEO, Affinity Metals Corp.