Levon Resources Ltd. (“Levon” or “the Company”) (TSX Symbol: LVN; OTCQX: LVNVF) would like to thank all of our supporters who have stayed the course with us through this challenging market. 2016 has been a difficult year for the mining sector globally, with falling metal prices and punitive governmental actions that range from taxation, to permitting decrees against operations; exploration companies have been hit the hardest, depressing share prices to ridiculously low levels.
On a brighter note, the price of zinc has been skyrocketing and we are working with our engineers to see how this will impact the project economics. We have an indicated resource of approximately 9 billion pounds of zinc, currently trading in the $1.20 range.
Through the acquisition of the Aida claim as well as exercising the option to purchase the privately held claims over the Cordero resource, your Company has been able to strategically capitalize on the current market conditions by consolidating 100% of the claim ownership covering the Cordero district.
Our earlier exploration illustrated that the Aida claim was at the center of the expanding Cordero resource, and that with additional drilling to focus on the higher grade mineralization that is evident in the dome, and potentially expand the resource, we could optimize the modeled open pit and improve our economic modeling for a mining operation. Our exploration team has just returned from Cordero and has spotted 28 holes for higher grade mineralization potential. The Company intends to pursue this exploration next year, once we see the price of silver move up in a sustained and positive way.