Silver Dollar Intersects 89.57 g/t AgEQ over 125.3m
Silver Dollar Intersects 89.57 g/t AgEQ over 125.3m from Surface at The New Brazo Discovery, La Joya Silver Project in Durango, Mexico
Phase II drilling in progress and the Company is fully funded for 2022
2022-05-04 10:31 ET - News Release
Vancouver, British Columbia--(Newsfile Corp. - May 4, 2022) - Silver Dollar Resources Inc. (CSE: SLV) (OTCQX: SLVDF) ("Silver Dollar" or the "Company") is pleased to report the remaining assay results from the Phase I drilling completed on the underexplored Noria portion of the La Joya Silver Project (the "Property") located in the state of Durango, Mexico. Phase II drilling is now in progress and targeting the wide intervals of mineralization intersected in the new Phase I discoveries.
Highlights include:
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Hole NOR-22-008 intersected 89.57 grams per tonne (g/t) silver equivalent (AgEQ) over 125.3 metres (m) starting at 3 m downhole. This interval includes 267.56 g/t AgEQ over 10.47m starting at 70.53 m downhole. Mineralization consists of Ag, gold (Au), copper (Cu), lead (Pb), and zinc (Zn) mineralization over wide intervals associated with sulphide veins, hornfels, and quartz veins hosted in Indidura formation carbonates adjacent to a monzonite intrusive.
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Hole NOR-22-009 intersected 60.33 g/t AgEQ over 58.84m starting at 75.83m downhole. This hole was higher grade in gold recording 0.66 g/t Au over the same 58.84m interval. Gold tenors were over twice the grade and triple the width of mineralization encountered in historical hole LJ-DD12-96.
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Phase I drilling exceeded expectations by:
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identifying structural extensions of the known mineralized zones;
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the discovery of a near-surface gold zone with appreciable grades and widths; and
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wide skarn-type Ag-Au-Cu-Pb-Zn mineralization representing a new extension along the unexplored Coloradito intrusive beyond historical workings.
Drill core samples from all 11 holes completed over a total of 2,424 metres of Phase I drilling were submitted for analysis. Results for the first seven holes were reported on March 24, 2022 (See: news release), and the results reported below are for the last four holes.
"Our successful Phase I drilling has provided us with several new follow-up targets well outside the historic resource area. Assays from hole 8, which is approximately 1 kilometre west of the Main Mineralized Trend, are some of the best results ever reported from the Coloradito area," said Mike Romanik, president of Silver Dollar. "Phase II drilling continues, and we have encountered similar sulphide mineralization over even broader widths and will expand the program as analytical results dictate."
Phase 1 Drilling Objectives and Discussion
Hole NOR-22-008 (See: cross-section) was designed to target mineralization on the west side of the Coloradito intrusive where anomalous gold and zinc values were intersected in historical hole LLDD12-96. This hole intersected wide intervals of skarn-type Ag-Au-Cu-Pb-Zn representing the highest reported grades and widths to date from the Coloradito area. This area represents an exciting new discovery, particularly given it is located a full kilometre west of the Main Mineralized Trend.
Hole NOR-22-009 (See: cross-section) was designed to test the downward extension of the mineralization previously encountered in hole LJ-DD12-96 with an intercept of 0.32 g/t Au over 29m. This hole returned 0.66 g/t Au over 58.84m starting at 75.83m downhole, both increasing previous gold tenors and width encountered in historical hole LJ-DD12-96. This intercept also averaged 60.33 g/t AgEQ. Additional drilling in Phase II will follow up on this near-surface gold and skarn polymetallic mineralization.
Hole NOR-22-010 was designed to test mineralization at a depth of 375m. While the deep target was not encountered, interesting values were intercepted at shallower depths with the hole returning 72.29 g/t AgEQ over 13.32m starting at 112.73m downhole, which included 0.78 g/t Au over the same interval. The above interval includes 305.57 g/t AgEQ and 3.63 g/t Au over 2.09m starting at 123.96m downhole. Higher grade gold mineralization in Phase I has been observed associated with rhodonite and within an 80-170m vertical depth horizon spatially associated with the Coloradito intrusive. This higher-grade gold corridor which reported 29 g/t Au over 1.01m in NOR-21-004 represents a potential new target for Phase II follow-up drilling.
Hole NOR-22-011 targeted a western extension of the Yeyis structure with an intercept of 0.55 g/t Au over 7.87m starting at 155.23m downhole. While this mineralization generally coincides with the strike of the Yeyis structure, it is right on the intrusive contact.
Table 1: A summary of downhole drill intersection results for the last four holes of the Phase I program.
Drill Hole
# | From
(m) | To
(m) | Length1
(m) | Ag
(g/t | Au
(g/t) | Cu
% | Pb
% | Zn
% | AgEQ2
(g/t) |
| NOR-22-008 | 3 | 128.3 | 125.3 | 40.61 | 0.11 | 0.05 | 0.18 | 0.55 | 89.57 |
| Including | 70.53 | 81 | 10.47 | 137.0 | 0.23 | 0.14 | 0.39 | 1.67 | 267.57 |
| NOR-21-009 | 75.83 | 134.67 | 58.84 | 2.58 | 0.66 | 0.03 | - | 0.03 | 60.33 |
| NOR-22-010 | 112.73 | 126.05 | 13.32 | 2.78 | 0.79 | 0.48 | - | - | 72.29 |
| Including | 123.96 | 126.05 | 2.09 | 6.05 | 3.63 | 0.08 | - | - | 305.58 |
| NOR-21-011 | 25.64 | 169.1 | 143.46 | 7.52 | 0.07 | 0.06 | 0.02 | - | 21.83 |
| Including | 155.23 | 163.1 | 7.87 | 4.85 | 0.55 | 0.08 | 0.03 | - | 60.44 |
1.True widths have yet to be determined.
2.AgEQ in results assume (USD) $1,750 Au and $22 Ag per/oz, and $4.30 Cu, $1.25 Pb, and $1.50 Zn per/lb, and 100% metallurgical recovery.
Table 2: La Joya Drillhole Details
| Drill Hole # |
Target
Area
| Target
Depth
(m) | X
Collar | Y
Collar | Azimuth | Dip | Hole
Length (m) |
| NOR-22-008 | Noria | 144 | 608177.42 | 2640834.52 | 90 | -45 | 144 |
| NOR-22-009 | Noria | 200 | 608230.07 | 2640747.25 | 45 | -65 | 186 |
| NOR-22-010 | Noria | 440 | 609654 | 2641465 | 180 | -65 | 441 |
| NOR-22-011 | Noria | 200 | 609527 | 2640249 | 180 | -45 | 201 |
Procedure, Quality Assurance / Quality Control, and Data Verification
The diamond drill core (HQ size) was geologically logged, photographed, and marked for sampling. Core designated for sampling was sawn in half with a diamond blade core saw. One-half of the core was sealed in plastic bags and shipped for analysis. The remaining half portion is returned to the core trays for storage and/or for metallurgical test work.
The sealed and tagged sample bags were transported to either the ActLabs facility in Zacatecas, Mexico or the Bureau Veritas facility in Durango, Mexico where the samples were crushed and 200-300-gram pulp samples prepared with ninety percent passing Tyler 150 mesh (106μm). The pulps were assayed for gold using a 30-gram charge by fire assay (Code 1A2 and/or FA450) and over limits greater than 10 grams per tonne were re-assayed using a gravimetric finish (Code 1A3 and/or FA550). Silver and multi-element analysis was completed using total digestion (Code 1F2 Total Digestion ICP). Over limits greater than 100 grams per tonne silver were re-assayed using a gravimetric finish (Code 8-Ag FA-GRAV Ag).
Quality assurance and quality control ("QA/QC") procedures monitor the chain of custody of the samples and include the systematic insertion and monitoring of appropriate reference materials (certified standards, blanks, and duplicates) into the sample strings. The results of the assaying of the QA/QC material included in each batch were tracked to ensure the integrity of the assay data. All results stated in this announcement have passed Silver Dollar's QA/QC protocols.
Mike Kilbourne, P.Geo., an independent Qualified Person as defined in NI 43-101, has reviewed and approved the technical contents of this news release on behalf of the Company.