SMR to Commence Drilling and Rehabilitation Activities at Its Reliquias Underground MINE
SMR TO COMMENCE DRILLING AND
REHABILITATION ACTIVITIES AT ITS
RELIQUIAS UNDERGROUND MINE
TSX.V
|
AGMR
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN OR INTO
THE UNITED STATES
/
TORONTO
,
April 19, 2022
/CNW/ - Silver Mountain Resources Inc. ("
Silver Mountain
" or the
"
Company
") is pleased to provide an update regarding its underground drilling activities and mine
rehabilitation work at its Reliquias underground silver mine located in central
Peru
(the "
Reliquias
Mine
").
In preparation for the Company's proposed 2022 underground drilling program (for details please
refer to the Company's news release dated
March 8, 2022
), a specialized mining contractor started
on the construction of drill platforms in late February. Work has advanced to optimize existing
transport drifts, ramps, and drill accesses, while ensuring a safe working environment. With the
underground operations on stand-by for a few years, some mine areas require the installation of
new wire meshing and anchored rockbolts. The metal supports that were installed by the previous
operator are being replaced during the on-going rehabilitation. The existing underground support
infrastructure such as electricity and water are also being improved as required. Refurbishment of
camps, offices, and other surface facilities to provide for the mine and drill contractor personnel
should be operative by
May 2022
.
A total of nine underground drill platforms are being established to perform the exploration drilling
campaign at the mine
. The first three drill platforms have been completed and drilling is
expected to commence this week.
The proposed drilling program of 70 holes for a total of 12,000 meters is expected to validate the
historical resources within SMR's vein structures. In addition, the drilling will also aim at extending
the known silver-rich zones at depth.
1
On
April 6, 2022
, Silver Mountain Resources informed the Ministry of Energy and Mines (MINEM) in
Peru
about lifting the temporary suspension of activities. This written interaction with the relevant
authorities allows the Company to advance with this underground exploration drilling.
On April 6, 2022, Silver Mountain Resources informed the Ministry of Energy and Mines (MINEM) in
Peru about lifting the temporary suspension of activities. This written interaction with the relevant
authorities allows the Company to advance with this underground exploration drilling. (CNW
Group/Silver Mountain Resources Inc.)
1
For additional information in respect of the Castrovirreyna Project, please refer to the Company's technical report entitled "National Instrument 43-101 Technical Report –
Castrovirreyna Project, Peru", dated October 6, 2021, and amended November 18, 2021, with an effective date of August 17, 2021, (the "Castrovirreyna Technical Report") and
available on the Company's profile at
www.sedar.com
.
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
Jose Vizquerra
, a Director of the Company and a Qualified Person within the meaning
of NI 43-101.
About Silver Mountain
Silver Mountain Resources Inc. is a silver explorer and mine developer planning to re-start
production at the Reliquias underground mine and undertake exploration activities at its prospective
silver camps at the Castrovirreyna project in Huancavelica,
Peru
.
Silver Mountain's subsidiary Sociedad Minera Reliquias S.A.C. owns 100% of its concessions and
holds more than 27,000 ha in the district of Castrovirreyna, Huancavelica,
Peru
.
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
. 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:
http://www.newswire.ca/en/releases/archive/April2022/19/c8152.html
%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
CO: Silver Mountain Resources Inc.
CNW 07:00e 19-APR-22