Silver Sands Updates Phase II Exploration Program at Virginia Project
Suite 830 – 1100 Melville Street, Vancouver, B.C. Canada, V6E 4A6
Tel: +1 604 786-7774 E-mail: [email protected]
www.silversandscorp.com
www.mirasolresources.com
Silver Sands Updates Phase II Exploration Program at Virginia Project
VANCOUVER, BC, April 12, 2021 — Silver Sands Resources Corp. (“Silver Sands” or the
“Company”) (CSE: SAND) (OTCQB: SSRSF) is pleased to provide an update on the on-going Phase II
exploration program at its Virginia Silver Project in Santa Cruz Province, Argentina. The Phase two
program of IP and diamond drilling commenced in late January.
“We just completed the drilling component of Phase II with 3,100 metres drilled in 20 holes, and all
samples are now at the lab. The primary objective of the Phase II program is to build on the success of
Phase I and continue to increase the mineralized footprint at Virginia,” commented Silver Sands CEO
Keith Anderson.
“We are also very excited with the results from the IP work completed directly to the north east. These
new IP results are very similar to the results that encompass the known conceptual open pits, suggesting
the north east area of the Virgina project has the potential for new resource expansion. We see similar
chargeability anomalies and responses to the existing veins on the property,” he continued. “Longer term,
we are targeting an updated resource estimate late H2 2021. We are currently sufficiently funded to
complete a Phase III drilling program and complete the resource estimate,”
Figure 1. Drilling Plan
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https://www.silversandscorp.com/images/news/SAND_20210412_Figure01.jpg
The drilling plan (Figure 1) shows the success to date with 6 newly identified areas for anticipate d
resource expansion:
• New mineralized zone expanding the existing Martina mineralized zone along strike at Martina
SE;
• Identification of new mineralized zone along the Ely Vein at Ely North and Ely Central;
• Identification of new mineralized zone along the Julia Vein at Julia South Extension;
• Identification of new mineralized zone along the Martina Vein at Martina NW and Martina SW
These targets were the primary focus of the current drill campaign. Twenty holes totaling 3104 metres
were drilled in Phase II, as shown in Figure 1. All samples have been dispatched to the laboratory for
analysis.
Figure 2. IP
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https://www.silversandscorp.com/images/news/SAND_20210412_Figure02.jpg
The Pole DiPole Induced Polarization (PDP IP) program (Figure 2) identified several linear anomalies
yielding chargeability responses similar to those of the known veins:
• A potential series of a parallel veins in the Florencia area;
• A potential series of parallel veins in the Maos area;
The IP chargeability clearly shows the faulted nature of the potential vein structures, mirroring the faulted
nature of the Naty, Julia and Ely vein structures.
Field crews continue to evaluate these linear anomalies through mapping and sampling in preparation of
trenching and subsequent drilling. The Company anticipates further resource expansion to be developed
within a number of these targets.
In addition, the potential series of parallel and convergent veins in a yet to be named area in the northeast
corner of the map will surveyed with PDP IP to pinpoint targets for subsequent exploration.
Suite 830 – 1100 Melville Street, Vancouver, B.C. Canada, V6E 4A6
Tel: +1 604 786-7774 E-mail: [email protected]
www.silversandscorp.com
www.mirasolresources.com
Figure 3.
IP and Vein Structures
https://www.silversandscorp.com/images/news/SAND_20210412_Figure03.jpg
The Virginia hosts an epithermal vein field, meaning the silver deposits within the veins formed at a
relatively consistent depth, approximately 1000 metres below the paleosurface, or the earth’s surface at
the time of deposition. In an ideal situation, erosion through time would bring the silver de posits to
surface, where they would be discovered as they were at Julia Central and Julia Norte. However, faulting
of the rock units hosting the veins, as clearly shown in the vein geology and the IP, has disturbed the
veins along strike and to the east. Recent drilling has shown Julia South has been faulted and dropped,
meaning the silver deposits at Julia South are deeper than those at Julia Central and Julia Norte. Folding
or faulting has also dropped the rock units to east of Julia and Ely, meaning silver deposits in those veins
(Martina, Margarita, Magi are deeper than those at Julia Central and Norte.
About Virginia
Suite 830 – 1100 Melville Street, Vancouver, B.C. Canada, V6E 4A6
Tel: +1 604 786-7774 E-mail: [email protected]
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www.mirasolresources.com
Virginia is a low to intermediate sulphidation epithermal silver deposit located in the mineral-rich
Deasado massif, lying within the mining-friendly state of Santa Cruz in the Patagonia region of
Argentina. Through initial discovery in 2009 to four drill programs between 2010 and 2012, Mirasol
Resources was able to define an initial indicated mineral resource of 11.9 million ounces of silver at
310 g/t Ag and a further inferred 3.1 million ounces of silver at 207 g/t Ag within seven outcropping
bodies. This resource is documented in a Mirasol Resources technical report entitled: "Amended
Technical Report, Virginia Project, Santa Cruz Province, Argentina -- Initial Silver Mineral Resource
Estimate" with an effective date of Oct. 24, 2014, and a report date of Feb. 29, 2016.
Several additional vein structures within the property package remain highly prospective, as Mirasol
concentrated the bulk of its exploration effort on the resource area at the expense of continuing
exploration on the underexplored additional veins. Several of these structures have highlight silver
values in excess of 1,000 g/t Ag and have a high probability of hosting additional silver resources.
These veins structures will be the primary focus of the Silver Sands 2020/2021 exploration efforts.
Silver Sands is earning a 100-per-cent interest in Virginia by issuing sufficient shares for Mirasol to
end up with 19.9 per cent of the issued and outstanding of Silver Sands and completing $6-million
(U.S.) in exploration over three years. Mirasol will retain a 3-per-cent net smelter return royalty with
Silver Sands having the option of purchasing one-third of the royalty for $2-million (U.S.).
About Silver Sands Resources Corp.
Silver Sands is a well-financed, Canada-based company engaged in the business of mineral exploration
and the acquisition of mineral property assets in mining-friendly jurisdictions. Its objective is to locate
and develop economic precious and base metal properties of merit. Its key asset is the Virginia silver
project, located in the mining-friendly Santa Cruz state of Argentina.
On Behalf of the Board of Directors
Keith Anderson
Chief Executive Officer, Director
For further information, please contact:
Keith Anderson
Chief Executive Officer, Director (604) 786-7774
Qualified Person Statement: Silver Sand’s disclosure of technical and scientific information in this press
release has been reviewed and approved by R. Tim Henneberry, P.Eng., a director of the Company, who
serves as a Qualified Person under the definition of National Instrument 43-101.
QAQC: Silver Sands applies industry standard exploration sampling methodologies and techniques. All
geochemical rock and drill samples are collected under the supervision of the company’s geologists in
accordance with industry practice. Geochemical assays are obtained and reported under a quality
assurance and quality control (QA/QC) program. Samples are dispatched to an ISO 9001:2008 accredited
laboratory in Argentina for analysis. Assay results from channel, trench, and drill core samples may be
higher, lower or similar to results obtained from surface samples due to surficial o xidation and
enrichment processes or due to natural geological grade variations in the primary mineralization.
Suite 830 – 1100 Melville Street, Vancouver, B.C. Canada, V6E 4A6
Tel: +1 604 786-7774 E-mail: [email protected]
www.silversandscorp.com
www.mirasolresources.com
Forward Looking Statements: The information in this news release contains forward looking statements
that are subject to a number of known and unknown risks, uncertainties and other factors that may cause
actual results to differ materially from those anticipated in our forward-looking statements. Factors that
could cause such differences include: changes in world commodity markets, equity markets, costs and
supply of materials relevant to the mining industry, change in government and changes to regulations
affecting the mining industry and to policies linked to pandemics, social and environmental related
matters. Forward-looking statements in this release include statements regarding future exploration
programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery
processes. Although we believe the expectations reflected in our forward -looking statements are
reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or
achievements. Silver Sands disclaims any obligations to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise, except as may be required by
applicable law.
Neither the Canadian Securities Exchange (“CSE”) nor its Regulation Services Provider (as that term is
defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.