High-grade gold and silver confirmed at the main Candy Vein structure and follow up drill target development is underway
Vancouver, British Columbia--(Newsfile Corp. - April 16, 2024) - Silver Dollar Resources Inc. (CSE: SLV) (OTCQX: SLVDF) (FSE: 4YW) ("Silver Dollar" or the "Company") is pleased to report surface sample assay results from its 100%-owned Nora property (the "Property") in the state of Durango, Mexico.
Photo 1: Candy Vein Sample R-053. Photo 2: Candy Vein Sample RM-1009.
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As previously reported (See news release of March 12, 2024), fieldwork began in February as an initial step in the Company's re-evaluation of the Property. The focus of the work has been geological mapping and sampling of priority anomalies (Figure 1). A total of 89 rock chip and channel samples and 33 soil samples have been collected to date, including 41 samples from the primary Candy vein target.
Figure 1: Nora property plan view with surface sample locations.
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Analytical results for all samples have been received and highlights include:
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Twenty-one samples grading over (>) 100 grams per tonne (g/t) silver (Ag), ten samples >200 g/t Ag, four samples >500 g/t Ag and two samples >1,000 g/t or one kilogram per tonne Ag.
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Sample R-053 (Photo 1) returned 29.61 g/t gold (Au) over 0.35 metres (m), confirming the presence of high-grade gold in the Candy vein structure.
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Samples RM-1009 (Photo 2) returned 2,215 g/t Ag over 0.8 m and RM-1013 returned 1,212 g/t Ag over 1 m, confirming the presence of high-grade silver in the Candy vein structure.
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Five samples returned grades >1% copper (Cu) with two >3% Cu.
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Elevated levels of zinc (7 samples >1% Zn) and lead (20 samples >1% Pb) are also encouraging as they seem to be the best pathfinders for geochemistry.
Refer to the table below for additional highlights of the sample results. Note that grams per tonne is equivalent to parts per million (ppm), and 10,000 ppm is equivalent to one percent (1%).
Sample
# |
Rock
Type |
Thickness
m |
Au
ppm |
Ag
ppm |
Cu
ppm |
Pb
ppm |
Zn
ppm |
AgEQ ppm |
| R-053 |
Vein |
0.35 |
29.61 |
103 |
31,040 |
86,820 |
5,850 |
3,240 |
| RM-1009 |
Rhyolite |
0.8 |
2.26 |
2,215 |
33,420 |
18,340 |
28,120 |
3,045 |
| RM-1013 |
Vein |
1 |
2.05 |
1,212 |
17,710 |
42,390 |
13,540 |
1,841 |
| R-071 |
Rhyolite |
0.5 |
3.80 |
924 |
11,980 |
75,610 |
4,540 |
1,703 |
| R-066 |
Vein |
0.63 |
3.98 |
972 |
11,300 |
35,040 |
7,390 |
1,611 |
| R-038 |
Rhyolitic Tuff |
Selective |
3.52 |
218 |
7,560 |
53,260 |
6,830 |
839 |
| R-063 |
Vein |
0.9 |
2.25 |
323 |
2,590 |
28,710 |
22,010 |
752 |
| R-065 |
Rhyolite |
0.5 |
2.50 |
487 |
547 |
7,000 |
539 |
723 |
| R-074 |
Vein |
0.6 |
2.54 |
79 |
2,530 |
76,490 |
539 |
615 |
| R-005 |
BX |
0.5 |
0.01 |
225 |
197 |
56,660 |
7,190 |
482 |
| R-057 |
Vein |
0.1 |
4.76 |
35 |
766 |
4,320 |
545 |
443 |
| RM-1001 |
Rhyolite |
0.5 |
0.82 |
203 |
778 |
27,160 |
4,030 |
403 |
| R-007 |
Dump |
Selective |
0.01 |
234 |
155 |
37,520 |
4,420 |
403 |
| RM-1010 |
Vein |
0.3 |
1.76 |
154 |
1,570 |
12,570 |
2,250 |
375 |
| R-060 |
Rhyolite |
0.9 |
1.17 |
137 |
1,310 |
15,010 |
2,070 |
316 |
| RM-1005 |
Rhyolite |
0.8 |
1.38 |
34 |
7,570 |
12,390 |
4,510 |
315 |
| R-059 |
Vein |
1.5 |
0.16 |
99 |
3,450 |
21,250 |
15,160 |
312 |
| R-068 |
Rhyolite |
0.5 |
0.26 |
146 |
719 |
10,520 |
9,760 |
263 |
| RM-1008 |
Vein |
1.7 |
0.24 |
165 |
883 |
2,900 |
10,570 |
256 |
| RM-1011 |
Vein |
0.3 |
1.60 |
76 |
954 |
5,930 |
2,880 |
253 |
| R-061 |
Vein |
0.3 |
1.28 |
103 |
699 |
6,530 |
1,550 |
246 |
| R-064 |
Rhyolite |
0.5 |
0.12 |
102 |
544 |
11,260 |
16,080 |
238 |
| R-069 |
Vein |
0.7 |
0.12 |
101 |
1,050 |
10,620 |
12,520 |
225 |
| RM-1000 |
Rhyolite |
1 |
0.18 |
55 |
4,100 |
20,230 |
4,030 |
222 |
| R-054 |
Vein |
0.3 |
1.01 |
49 |
2,190 |
6,690 |
1,030 |
189 |
| R-070 |
Rhyolite |
0.5 |
0.07 |
113 |
347 |
5,010 |
9,440 |
187 |
| R-067 |
Rhyolite |
0.5 |
0.23 |
130 |
1,060 |
3,440 |
1,220 |
181 |
| R-056 |
Rhyolite |
0.6 |
0.15 |
88 |
1,480 |
13,820 |
1,370 |
180 |
| R-019 |
Rhyolite |
1 |
0.01 |
100 |
118 |
7,830 |
8,720 |
174 |
Note:
The sample results and photographs above are selective by nature and may not be representative of the true grade or style of mineralization across the Property.
The AgEq results disclosed herein assume US$1,750 gold and US$22 silver per/oz, and US$4.30 copper, US$1.25 lead, and US$1.50 zinc per/lb, and 100% metallurgical recovery.
"We are very encouraged by the initial results from our re-evaluation of the Nora Project," said Michael Romanik, president of Silver Dollar. "Follow-up geological mapping is underway and will include a detailed examination of the Candy Vein outcrops and known faults in the surrounding area to gain a better understanding of structural controls and define potential drill targets."
Procedure, quality assurance/quality control and data verification:
All rock samples were collected, described, photographed, and bagged on-site. The samples were delivered by Silver Dollar staff to ActLabs in Zacatecas, Mexico for analysis. ActLabs is ISO 9001:2015 certified. Soil samples were screened to -80 mesh at the lab, prior to analysis. Gold is analyzed by a 30g Fire Assay with AA (atomic absorption spectroscopy) finish, then gravimetric finish if greater than 10ppm Gold. Silver and 34 other elements were analyzed using a four-acid digestion with an ICP-OES (Inductively Coupled Plasma Optical Emission spectroscopy) finish. Silver, lead, zinc, and copper over limits were re-assayed using an ore-grade four-acid digestion with ICP-AES (Inductively coupled plasma atomic emission spectroscopy) finish. Control samples comprising certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's quality assurance and quality control protocol.
About the Nora Property:
Silver Dollar acquired a 100% interest in the Nora Ag-Au property (the "Property") from Canasil Resources, subject to a 2% net smelter returns royalty (See news release of February 8, 2024).
Located in the Eastern Sierra Madre sub-province in the transition to the high plateau of Mexico, the Property lies centrally within the "Silver Trend" that runs from the northwest to the southeast through Durango State (Figure 2). Significant deposits in the region include Endeavour Silver's Guanaceví mine and Fresnillo's San Julián mine on-trend to the northwest, with Endeavour Silver's Pitarrilla project approximately 50 kilometres (km) to the east. Pitarrilla is one of the largest undeveloped silver deposits in the world and was discovered by Perry Durning and Frank (Bud) Hillemeyer, Silver Dollar's technical advisors.
The Property is located approximately 200 km north-northwest of the city of Durango (See location map), with excellent year-round access via Federal highway, paved road, and local dirt roads. Local infrastructure is available in the towns of Tepehuanes and Santa Maria del Oro and the city of Santiago Papasquiaro, all within 50km of the Property.
Mike Kilbourne, P.Geo., an independent Qualified Person (QP) as defined in NI 43-101, has reviewed and approved the technical contents of this news release on behalf of the Company. The QP and the Company have not completed sufficient work to verify the information on the Nora property, particularly regarding historical exploration, neighbouring companies, and government geological work.
About Silver Dollar Resources Inc.
Silver Dollar is a mineral exploration company that is fully funded to execute its near-term exploration plans having closed its last financing with lead orders from billionaire mining investor Eric Sprott and NYSE-listed First Majestic Silver. The Company's primary projects lie within Mexico's prolific Durango-Zacatecas silver-gold belt and include the flagship La Joya property and the Nora property. Management has an aggressive growth strategy and is actively reviewing potential acquisitions with a focus on drill-ready projects in mining-friendly jurisdictions.
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ON BEHALF OF THE BOARD
Signed "Michael Romanik"
Michael Romanik,
President, CEO & Director
Silver Dollar Resources Inc.
Direct line: (204) 724-0613
Email: mike@silverdollarresources.com
179 - 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9
Forward-Looking Statements:
This news release may contain "forward-looking statements." Forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this news release.
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