Silver Dollar appoints Malfair country manager Silver Dollar appoints Malfair country manager
2020-11-17 09:57 ET - News Release
Mr. Michael Romanik reports
SILVER DOLLAR RETAINS COUNTRY MANAGER FOR LA JOYA SILVER PROJECT IN DURANGO, MEXICO
Silver Dollar Resources Inc. has hired Mark Malfair as country manager to work alongside the company in guiding future exploration efforts at the La Joya silver project in Durango, Mexico.
Based in Durango and bilingual in Spanish and English, Mr. Malfair is a consulting geologist with 25 years of experience in all phases of the mining industry from prospect generation and exploration through to production. He has served as country manager in both Mexico and Honduras, handling all geological, administrative, legal and stakeholder relations aspects of running a company and its exploration programs.
Mr. Malfair's previous roles include vice-president of exploration for Chesapeake Gold Corp. (2007 to 2015) where he was lead member of the ground team responsible for advancing the Metates gold-silver-zinc project in Durango through prefeasibility. Metates is the largest undeveloped Au-Ag project in Mexico with proven and probable reserves of 18.5 million ounces of gold, 526 million ounces of silver and 4.2 billion pounds of zinc.
About the La Joya project
Under the terms of the definitive agreement between Silver Dollar and First Majestic (see news release of Aug. 10, 2020), Silver Dollar has been granted an exclusive option to acquire an initial 80-per-cent interest and, if exercised, a second option to acquire an additional 20-per-cent interest for an aggregate 100-per-cent interest in First Majestic's La Joya silver-copper-gold property. The property, located in the southeastern portion of Durango in the Mexican silver belt, consists of 15 mineral concessions totalling 4,646 hectares and hosts the main mineralized trend (MMT), Santo Nino and Coloradito deposits.
First Majestic acquired the La Joya property as part of its acquisition of SilverCrest Mines Inc. in 2015. A total of 182 historical drill holes, totalling 51,600.16 metres, have been completed on the property to date. SilverCrest drilled 78 of the holes (25,812.65 m) and an additional 11 validation holes (4,272.63 m) during 2011 and 2012 that were used to support a historical inferred mineral resource estimate for Ag-Cu-Au and for tungsten-molybdenum mineralization. The mineral resource estimate previously completed by SilverCrest is treated by Silver Dollar to be historical and is not relied upon. Work is required to review and complete data verification in order to update the mineral resource estimate prior to being relied upon as a current mineral resource estimate.
The property is situated approximately 75 kilometres directly southeast of the state capital city of Durango in a prolific mineralized region with past-producing and operating mines including Grupo Mexico's San Martin mine, Industrias Penoles' Sabinas mine, Pan American Silver's La Colorada mine, and First Majestic's La Parrilla and Del Toro Silver mines. Access and infrastructure near the property are considered excellent with highway, rail and power lines nearby.
P. James F. Barr, PGeo, of Tetra Tech Inc., a qualified person as defined in National Instrument 43-101, has reviewed and approved the technical content in this press release.
About Silver Dollar Resources Inc.
Silver Dollar Resources is a mineral exploration company focused on creating shareholder value by finding and developing economic precious metal and base metal deposits. Silver Dollar's projects are located in two of the prolific mining jurisdictions in the world and include the advanced-exploration-stage/development-stage La Joya silver project in Durango, Mexico, and the discovery-stage Pakwash Lake and Longlegged Lake properties in the Red Lake mining district of Ontario, Canada. The company has an aggressive growth strategy and is actively reviewing projects in mining-friendly jurisdictions internationally for potential acquisition.