I first looked at MetalSource Mining (CSE: MSM) because of the Sprott angle.
Eric Sprott showing up in a junior mining story usually makes people at least take a look.
But after going through the company, the more interesting question is “what is he backing?”
In this case, it is Silver Hill in North Carolina.
The company describes Silver Hill as America’s first silver mine. It was discovered in the 1830s and produced silver, gold, lead, zinc and copper.
That is the historical side.
The modern side is what matters now.MetalSource is drilling to see whether the old mine was only scratching the surface of a bigger silver-gold-polymetallic system.
That is the part I think retail investors can actually understand.
The old-timers found the metals.
Modern drilling is trying to find the scale.
So far, the results have been strong enough to make it interesting:
SH26-07 hit 12.62m of 48.04 g/t AuEq, including 2.74m of 210.72 g/t AuEq.
SH26-08 hit 13.0m of 447 g/t AgEq, including 3.1m of 1,063 g/t AgEq.
Those are not just random numbers.
The metres show the width of mineralized rock. The grade shows how rich that rock is. The equivalent number rolls multiple metals into one value so investors can compare the total metal content more easily.
That matters for MSM because Silver Hill is not just silver. It also has gold, lead, zinc and
copper.
So when the company reports gold-equivalent or silver-equivalent, it is reflecting the broader polymetallic nature of the system.
The project is also on private land in North Carolina with road, power and water access.
So the full setup is:
America’s first silver mine
Modern high-grade drill results
Actual gold punch
Lead, zinc and copper exposure
Private US land
Sprott backing
Still early in the discovery curve
That is a pretty clean story.
Sprott helps validate the opportunity, but the real reason to watch MSM is that Silver Hill
may be turning from a historic mine story into a modern discovery story.
Not financial advice.