2.0 x 1.2 km-sized advanced argillic alteration zone with vuggy silica ledges Channel samples include: 2.10 m
SILVER MOUNTAIN IDENTIFIES HIGH
SULPHIDATION TARGET AT PUCASORA
ZONE / DORITA PROJECT
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN OR INTO
THE UNITED STATES
/
Highlights:
2.0 x 1.2 km-sized advanced argillic alteration zone with vuggy silica ledges
Channel samples include:
2.10 m
@ 1.53 g/t Au and 70.1 g/t Ag,
7.53 m
@ 0.55 g/t Au and 30.5 g/t Ag
3.23 m
@ 0.36 g/t Au and 123.4 g/t Ag
TORONTO
,
Sept. 15, 2022
/CNW/ - Silver Mountain Resources Inc. ("
Silver Mountain
", "
AGMR
" or
the "
Company
") is pleased to report that a high sulphidation epithermal gold-silver target has been
recognized at the Pucasora zone, within the Company's 15000-ha Dorita property block in
Huancavelica, central
Peru
(Fig. 1). Pucasora is located approximately 3 km southwest of the
previously described Dorita vein system (see press release
July 7, 2022
).
Based on the results of 1:2000-scale geological mapping, the Pucasora target is underlain by dacitic
to andesitic volcanic rocks, intruded by a subvolcanic stock of dioritic composition. This prospect is
characterized by the occurrence of a large alteration zone typical for high sulphidation epithermal
systems. The dominant feature is an advanced argillic alteration zone extending over an area of 2.0
x 1.2 km, with common alteration minerals including alunite, dickite, and kaolinite. Hydrothermal
breccias, silica ledges, and silicified tensional fractures can be observed within the advanced argillic
zone, indicating a structural control of the mineralization. Vuggy silica is developed in discrete
structures and ledges, locally accompanied by native sulphur. The structural corridors show
predominantly northwest-southeast and northeast-southwest strike directions, reaching strike lengths
of up to
870 m
.
Assay results have been received for 660 rock channel samples, systematically collected from key
areas across the Pucasora target (Fig. 1). The channel sample results include strongly anomalous
concentrations of gold (Au) and silver (Ag) at surface, similar to known high sulphidation systems
throughout the Andes. Individual structural corridors display average Au values between 0.20 and
0.40 g/t, with highs of up to 1.53 g/t Au. Silver assays averaged over individual structural corridors
range from 3.29 to 41.10 g/t, reaching a maximum of 217 g/t Ag. Pathfinder elements like arsenic,
antimony, bismuth, and mercury show consistently elevated concentrations in surface samples,
implying limited erosion and therefore a largely preserved epithermal system. Hydrothermal breccias
containing pervasively silicified fragments with disseminated electrum and pyrite or clasts of vuggy
silica with native sulphur indicate the presence of favourable lithological horizons at depth.
Petrographic studies of rock samples from the Pucasora zone
1
have identified no less than five
hydrothermal pulses, of which at least two have introduced gold and silver in the form of finely
disseminated electrum into the system. Associated minerals include tetrahedrite, pyrite, covellite,
and minor sphalerite, either disseminated or as wispy veinlets in the rock matrix.
The geological characteristics recognized to date at the Pucasora zone confirm the presence of a
high sulphidation system with promising Au-Ag values at surface. As a next step, the Company is
planning to conduct detailed mapping and selective sampling of the most prospective zones, with the
objective of identifying targets for an initial drill campaign during 2023.
_____________________________
1
Andes Consultores & Prospectores EIRL: Avance Petrográfico y Mineragráfico (July 2022)
Fig.1: Map of the Pucasora zona, Dorita project, showing alteration zones, dominant structural
corridors, and gold values of surface channel samples. (CNW Group/Silver Mountain Resources
Inc.)
The following table provides more detail regarding selected channel sampling results:
Table 1: Results of channel sampling from surface outcrops at Pucasora target, Dorita property
block. Where channel is composed of more than one sample, assays shown are weighted average
over complete channel width. (CNW Group/Silver Mountain Resources Inc.)
On Behalf of the Board of Directors of Silver Mountain Resources Inc.
Alfredo Bazo
, Chief Executive Officer and Director
Qualified Person
The scientific and technical information contained in this news release has been reviewed and
approved by
Antonio Cruz
, an independent consultant of the Company and a Qualified Person within
the meaning of National Instrument 43-101
Standards of Disclosure for Mineral Projects
of the
Canadian Securities Administrators.
About Silver Mountain
Silver Mountain Resources Inc. is a silver explorer and mine developer planning to restart production
at the Reliquias underground mine and undertake exploration activities at its prospective silver
camps at the Castrovirreyna Project in Huancavelica,
Peru
.
For additional information in respect of the Castrovirreyna Project, please refer to the Company's
technical report, titled National Instrument 43-101 Technical Report—Castrovirreyna Project,
Peru
,
dated
October 6, 2021
, amended
November 18, 2021
, effective date
August 17, 2021
, available at
https://sedar.com
Silver Mountain's subsidiary Sociedad Minera Reliquias S.A.C. owns 100% of its concessions and
holds more than 27,000 hectares in the district of Castrovirreyna, Huancavelica,
Peru
.
Sampling, QA/QC, and Analytical Procedures
Silver Mountain follows systematic and rigorous sampling and analytical protocols which meet
industry standards. These protocols are summarized below.
All surface rock samples were collected with an electric diamond saw, typically over a 1–2-meter
sample interval. The sample bags were sealed with a plastic zip tie and identified with a unique
sample number, pending shipment to a certified laboratory sample preparation facility. Samples are
sent by batch to the ALS laboratory in
Lima
for assaying. Silver Mountain independently inserts
certified control standards, fine and coarse blanks, and duplicates into the sample stream to monitor
data quality. These standards are inserted "blindly" to the laboratory in the sample sequence prior to
departure from the storage facilities. At the laboratory samples are dried, crushed, and pulverized
and then analyzed using a fire assay-AA finish analysis for gold and a full multi-acid digestion with
ICP-AES analysis for other elements. Samples with results that exceed maximum detection values
for the main elements of interest (Ag, Zn, Pb, Cu) are re-analyzed using precise ore-grade ICP
analytical techniques, while high gold values are re-analyzed by fire assay with a gravimetric finish.
Forward Looking Statements
This news release contains forward-looking statements and forward-looking information within the
meaning of Canadian securities legislation (collectively, "
forward-looking statements
") that relate
to Silver Mountain's current expectations and views of future events. Any statements that express, or
involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or
performance (often, but not always, through the use of words or phrases such as "will likely result",
"are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated",
"intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical
facts and may be forward-looking statements and may involve estimates, assumptions and
uncertainties which could cause actual results or outcomes to differ materially from those expressed
in such forward-looking statements. No assurance can be given that these expectations will prove to
be correct and such forward-looking statements included in this news release should not be unduly
relied upon. These statements speak only as of the date of this news release. Forward-looking
statements in this news release include, but are not limited to, statements in respect of the
Company's proposed exploration program and the timing and potential results thereof.
Forward-looking statements are based on a number of assumptions and are subject to a number of
risks and uncertainties, many of which are beyond Silver Mountain's control, which could cause
actual results and events to differ materially from those that are disclosed in or implied by such
forward-looking statements. Such risks and uncertainties include, but are not limited to, the factors
set forth under "
Forward-Looking Statements"
and "
Risk Factors
" in the Company's final prospectus
dated
January 26, 2022
and other disclosure documents available on
www.sedar.com
. Silver
Mountain undertakes no obligation 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 law. New
factors emerge from time to time, and it is not possible for Silver Mountain to predict all of them or
assess the impact of each such factor or the extent to which any factor, or combination of factors,
may cause results to differ materially from those contained in any forward-looking statement. Any
forward-looking statements contained in this news release are expressly qualified in their entirety by
this cautionary statement.
SOURCE
Silver Mountain Resources Inc.
View original content to download multimedia:
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%SEDAR: 00052252E
For further information:
Alfredo Bazo, President, CEO & Director, [email protected]; Jean Pierre
Fort, Chief Financial Officer, [email protected]; Silver Mountain Resources Inc, 82 Richmond Street
East, Toronto, ON M5C 1P1, [email protected], 647-262-4017, www.agmr.ca
CO: Silver Mountain Resources Inc.
CNW 07:00e 15-SEP-22