Commonwealth Silver and Gold Mining Inc. ("Commonwealth Silver" or the "Company") is a private Canadian mineral exploration and development company focused on acquiring gold and silver properties in Arizona and advancing them towards production, including the Company’s 98% controlled flagship asset, the past-producing Commonwealth silver and gold mine. The Company comprises an experienced management group with a strong background in all aspects of acquisition, exploration, development and financing of precious metals mining projects.
It is management's belief that the Pearce mining district has the potential to host a significant economic silver and gold mineral resource. The Company controls the historic Commonwealth Mine and surrounding mining claims as well as the Blue Jeep, San Ignacio and Six Mile Hill exploration properties, totalling approximately 3,900 acres of mineral rights. Since April 2011, the Company has completed 7,502 meters of diamond drilling in 53 holes in addition to 155 holes of historic drilling totalling 15,672 meters.
In October 2011, the Company announced an initial mineral resource estimate on the Commonwealth Silver and Gold Project, calculated by SRK Consulting (U.S.), Inc. (“SRK”) in compliance with National Instrument 43-101. In June 2013, the Company announced an updated mineral resource estimate on the Commonwealth Project calculated by Hard Rock Consulting, LLC (see "Resource Summary" under "Projects" tab). For a copy of the full Technical Report on the Commonwealth Project titled, “NI 43-101 Technical Report on Resources – Commonwealth Silver and Gold Project, Cochise County, Arizona USA” dated September 5, 2013 with an effective date of June 10, 2013 see “Technical Reports” under the “Projects” tab. The SRK report dated March 15, 2012, amended April 11, 2012 is also posted under the “Projects” tab.
On August 21, 2012 the Company received a $2,000,000 strategic investment from Coeur Mining Inc., announced on August 27, 2012.
Hard Rock Consulting, LLC has begun work on a Preliminary Economic Assessment (“PEA”) Technical Report in accordance with NI 43-101. The Company hopes to receive the final PEA by December 31, 2013. The current estimated mineral resource sits on private patented mining claims and the Company intends to develop the Commonwealth Project as an open pit, heap leach operation.