Silver Storm Mining Ltd V.SVRS

Silver Storm Drills 1,810 g/t Ag.Eq over 14.6 m in C460 Zone

[JustZeeFacts]

Silver Storm Drills 1,810 g/t Ag.Eq over 14.6 m in C460 Zone

2024-01-04 08:57 ET - News Release

Toronto, Ontario--(Newsfile Corp. - January 4, 2024) - Silver Storm Mining Ltd. (TSXV: SVRS) (OTCQB: SVRSF) (FSE: SVR) ("Silver Storm" or the "Company"), is pleased to announce further drill results from its Phase 1 diamond drilling program at the Company's 100% owned La Parrilla Silver Mine Complex, located in Durango Mexico. Results from the four holes within this release are from the Quebradillas mine.

Key highlights include:

• Hole Q-23-020 intersected the C460 Zone returning 1,810 g/t Ag.Eq¹ over 14.62 metres ("m") including 2,466 g/t Ag.Eq¹ over 9.57 m and 682 g/t Ag.Eq over 4.00 m.

• This intercept is located approximately 15 m below the last mine development in this area, with similar high-grade mineralization:
  • 1767 EL composited historical channel samples graded 974 g/t Ag.Eq over a strike length of 23 m and width of 2.86 m.

• Hole Q-23-017 intersected the Quebradillas Zone returning 266 g/t Ag.Eq. over 6.03 m including 496 g/t Ag.Eq over 1.67 m and 354 g/t Ag.Eq over 0.60 m.

• Hole Q-23-019 intersected the Quebradillas Zone returning 523 g/t Ag.Eq over 1.22 m.

Greg McKenzie, President and CEO, commented: "C460 was the largest zone mined when Quebradillas was previously in production by First Majestic Silver. The high-grade mineralization reported today extends the C460 Zone at depth to the south where limited drilling was previously performed. The mineralization in this area is higher-grade, and wider, than the previously mined stopes immediately above. We were pleasantly surprised by the much higher grades in this area and will follow up with additional drilling in this location in 2024."

C460 Zone

The C460 Zone is a sulphide replacement vein striking 344 degrees and dipping 63 degrees to the northeast with a known strike length of 425 m. The zone is mineralized over a vertical extent of 570 m and its thickness varies up to 8.5 m. The replacement vein is concordant to bedding in the sediments and mineralization is comprised of pyrite, pyrrhotite, galena, sphalerite, arsenopyrite, acanthite, and freibergite.

Hole Q-23-020

Hole Q-23-020 was drilled to target the C460 Zone, successfully intersecting replacement mineralization, returning 1,810 g/t Ag.Eq over 14.62 m (56.00 to 70.62 m), including 2,466 g/t Ag.Eq over 9.57 m (60.50 to 70.07 m) and 682 g/t Ag.Eq over 4.00 m (56.00 to 60.00 m). - See Table 1; Figures 1, 2 & 3.

This intercept is located approximately 15 m below the last mine development in this area, with similar high-grade mineralization (Table 2):

• The composited weighted average grade of historical channel samples from the 1767 EL stope returned 974 g/t Ag.Eq over a strike length of 23 m and average width of 2.86 m.

Quebradillas Zone

The Quebradillas Zone is comprised of fault associated quartz-carbonate veins and breccias striking east and dipping 86 degrees to the south (088/86) with an average width of 1 to 2.5 m. The structure pinches and swells, cutting across the sediments and granodiorite stock. Mineralization in the vein consists of pyrite, pyrrhotite, arsenopyrite, galena, sphalerite and acanthite.

Hole Q-23-017

Hole Q-23-017 successfully intersected the Quebradillas quartz-carbonate vein and breccia mineralization returning 266 g/t Ag.Eq over 6.03 m (36.65 to 42.68 m), including 496 g/t Ag.Eq over 1.67 m (36.65 to 38.32 m) and 354 g/t Ag.Eq over 0.60 m (40.12 to 40.72 m)- See Table 1; Figures 3 & 4.

This intercept is located approximately 16 m above the last mine development in this area, with similar high-grade mineralization (Table 3):

• The composited weighted average grade of historical channel samples from the Quebradillas West 1892 EL stope returned 234 g/t Ag.Eq over a strike length of 18 m and average width of 2.34 m.

Hole Q-23-019

Hole Q-23-019 intersected the Quebradillas breccia mineralization returning 523 g/t Ag.Eq over 1.22 m (45.98 to 47.20 m). This intercept is located approximately 31 m below the last level of development in this area, with similar high-grade mineralization:

• The composited weighted average grade of historical channel samples from the Quebradillas East 1892 EL stope returned 233 g/t Ag.Eq over a strike length of 29 m and average width of 2.16 m.

Table 1 - Select Assay Intervals from Holes Q-23-017 to Q-23-020 and Historical Results

Zone	Hole	From	To	Length (m)	Ag.Eq(1) g/t	Ag g/t	Au g/t	Pb %	Zn %	Cu %
QUE	Q-23-017	36.65	42.68	6.03	266	166	0.17	1.11	2.07	0.02
	including	36.65	38.32	1.67	496	334	0.07	1.73	4.00	0.04
	and	40.12	40.72	0.60	354	203	0.12	1.80	3.42	0.02
QUE	Q-23-019	45.98	47.20	1.22	523	171	0.79	2.76	7.89	0.01
C460	Q-23-020	56.00	70.62	14.62	1,810	1,151	0.13	13.83	10.18	0.06
		56.00	60.00	4.00	682	279	0.21	6.21	8.06	0.07
	including	60.50	70.07	9.57	2,466	1,635	0.11	18.42	11.99	0.06
QUE	ILP-Q-16-11	99.50	102.00	2.50	224	178	0.07	1.02	0.47	-
QUE	ILP-Q-16-14	95.10	98.05	2.95	152	107	0.06	0.75	0.71	-
QUE	ILP-Q-17-05	39.90	40.60	0.70	323	133	0.11	1.31	1.80	-
QUE	ILP-Q-18-02	40.30	40.75	0.45	168	68	0.04	0.13	0.02	-
QUE	ILP-Q-18-72	41.45	42.00	0.55	275	127	0.20	0.15	0.15	-

 

Table 2 - Historical Channel Sample Results ⁽²⁾ - C460 Zone

Zone	Channel	Width	Ag.Eq(1) g/t	Ag g/t	Pb %	Zn %
C460	V460-1767-L0	1.60	660	288	5.40	8.37
C460	V460-1767-L1	5.10	1247	665	10.67	10.85
C460	V460-1767-L2	2.80	1447	733	12.80	13.62
C460	V460-1767-L3	2.30	1699	1053	12.10	11.82
C460	V460-1767-L4	2.00	1249	659	10.68	11.13
C460	V460-1767-L5	2.00	677	253	7.79	7.87
C460	V460-1767-L6	3.30	437	158	4.70	5.63
C460	V460-1767-L7	3.70	706	282	7.06	8.61
C460	V460-1767-L8	2.90	641	274	5.58	7.98
C460	V460-1777-L09	1.50	1002	461	7.98	12.00
C460	V460-1777-L08	2.70	376	150	3.37	4.96
C460	V460-1777-L07	3.50	1104	633	9.84	7.57
C460	V460-1777-L06	3.20	995	496	7.68	10.77
C460	V460-1777-L5S	1.80	1915	1057	13.64	18.09
C460	V460-1777-L4S	1.65	1816	1152	13.62	10.96
C460	V460-1777-L3S	2.40	893	443	7.82	8.84
C460	V460-1777-L2S	1.95	569	280	6.72	3.97
C460	V460-1777-L0	4.45	509	209	5.83	5.27
C460	V460-1777-L2N	2.35	676	294	7.64	6.47
C460	V460-1792-L1	2.30	315	148	4.19	2.01
C460	V460-1792-L2	1.25	683	332	7.06	5.94
C460	V460-1792-L3	1.40	1417	914	12.59	6.07
C460	V460-1792-L4	2.75	1712	1158	13.63	6.89
C460	V460-1792-L5	2.40	986	471	12.90	6.15
C460	V460-1792-L6	4.05	1046	614	10.61	5.39
C460	V460-1792-L7	3.65	563	236	6.04	6.06

 

Table 3 - Historical Channel Sample Results ⁽²⁾ - Quebradillas East and West Zones

Zone	Channel	Width	Ag.Eq(1) g/t	Ag g/t	Pb %	Zn %
QUE EAST	TABLA IZQ. P.T+13.50 Mts.	2.00	101	57	0.68	0.95
QUE EAST	TABLA DER. P.T+18 Mts.	4.20	115	63	0.86	1.05
QUE EAST	P.T+9 MTS	0.50	343	241	2.46	1.30
QUE EAST	P.T+10 MTS	2.20	336	209	2.06	2.65
QUE EAST	P.T+13 MTS	1.30	227	160	1.46	1.02
QUE EAST	L - 8+1 Mts.	2.50	287	203	1.34	1.76
QUE EAST	L - 30	3.90	227	182	0.95	0.72
QUE EAST	L- 31	0.90	120	3	2.46	1.89
QUE EAST	TABLA IZQ. L-29	1.90	341	262	1.98	0.93
QUE WEST	VQ-1892-114	1.05	330	184	2.06	3.32
QUE WEST	VQ-1892-117	0.50	182	93	0.89	2.39
QUE WEST	VQ-1892-121	0.45	116	77	0.66	0.75
QUE WEST	VQ-1892-124	8.00	113	80	0.55	0.65
QUE WEST	VQ-1892-127	2.70	213	110	1.64	2.13
QUE WEST	VQ-1892-127	1.45	414	292	2.61	1.91
QUE WEST	VQ-1892-130	3.55	194	118	1.24	1.55
QUE WEST	VQ-1892-133	1.00	307	218	2.17	1.12

 

(1) All results in this release are rounded. Assays are uncut and undiluted. Widths are core-lengths, not true widths. Silver equivalent: Ag.Eq g/t was calculated using commodity prices of US$22.50 /oz Ag, US$1,800 /oz Au, US$0.94 /lb Pb, and US$1.35 /lb Zn applying metallurgical recoveries of 70.1% for silver and 82.8% for gold in oxides and 79.6% for silver, 80.1% for gold, 74.7% for lead and 58.8% for zinc in sulphides. Metal payable used was 99.6% for silver and 95% for gold in dor produced from oxides, and 95% for silver, gold, and lead and 85% for zinc in concentrates produced from sulphides. Cut-off grades considered for oxide and sulphide were, respectively 140 g/t Ag.Eq and 125 g/t Ag.Eq and are based on 2017 costs adjusted by the inflation rate and include sustaining costs.

(2) Weighted average grades were calculated over the mineralized widths of each channel (Figures 1-5).

Sample Analysis and QA/QC Program

Silver Storm uses a quality assurance/quality control (QA/QC) program that monitors the chain of custody of samples and includes the insertion of blanks, duplicates, and reference standards in each batch of samples sent for analysis. The drill core is photographed, logged, and cut in half, with one half retained in a secured location for verification purposes and one half shipped for analysis. Sample preparation (crushing and pulverizing) is performed at ALS Geochemistry, an independent ISO 9001:2001 certified laboratory, in Zacatecas, Mexico and pulps are sent to ALS Geochemistry in Vancouver, Canada for analysis. The entire sample is crushed to 70% passing -2 mm, and a riffle split of 250 grams is taken and pulverized to better than 85% passing 75 microns. Samples are analyzed for gold using a standard fire assay with Atomic Absorption Spectrometry (AAS) (Au-AA23) from a 30-gram pulp. Gold assays greater than 10 g/t are re-analyzed on a 30-gram pulp by fire assay with a gravimetric finish (Au-GRA21). Samples are also analyzed using a 34 element inductively coupled plasma (ICP) method with atomic emission spectroscopy (AES) on a pulp digested by four acids (ME-ICP61). Overlimit sample values for silver (>100 g/t), lead (>1%), zinc (>1%), and copper (>1%) are re-assayed using a four-acid digestion overlimit method with ICP-AES (ME-OG62). For silver values greater than 1,500 g/t, samples are re-assayed using a fire assay with gravimetric finish on a 30-gram pulp (Ag-GRA21). Samples with lead values over 20% are re-assayed using volumetric titration with EDTA on a 1-gram pulp (Pb-VOL70). No QA/QC issues were noted with the results reported herein.

Review by Qualified Person and QA/QC

The scientific and technical information in this document has been reviewed and approved by Bruce Robbins, P.Geo., a Qualified Person as defined by National Instrument 43-101.

About Silver Storm Mining Ltd. (formerly Golden Tag Resources Ltd.)

Silver Storm Mining Ltd. holds advanced-stage silver projects located in Durango, Mexico. Golden Tag recently completed the acquisition of 100% of the La Parrilla Silver Mine Complex, a prolific operation which is comprised of a 2,000 tpd mill as well as five underground mines and an open pit that collectively produced 34.3 million silver-equivalent ounces between 2005 and 2019. The Company also holds a 100% interest in the San Diego Project, which is among the largest undeveloped silver assets in Mexico. For more information regarding the Company and its projects, please visit our website at www.silverstorm.ca.

For additional information, please contact:
Greg McKenzie, President & CEO
Ph: [phone]
[e-mail]