Silver X Expands Tangana Mining Unit with Positive Surface Channel
**NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES**
SILVER X MINING CORP.
Suite 1430 – 800 West Pender Street, Vancouver, B.C. V6C 2V6
SILVER X EXPANDS TANGANA MINING UNIT WITH POSITIVE SURFACE CHANNEL
SAMPLING OF PARALLEL CAUCA VEIN SYSTEM OF UP TO 1,296 G/T AgEq
• First systematic channel sampling of the Tangana Mining Unit’s Cauca vein that extends
over 1.77 kilometres at surface at an average width of 1.8 metres
• Analytical results up to 1,296 g/t AgEq with an average grade of 236 g/t AgEq from all
channel samples collected from surface outcrop
o Ag up to 592 g/t
o Au up to 8.77 g/t
o Zn up to 3.05 %
o Pb up to 17.91 %
• Cauca represents a low-cost, rapid expansion of the Tangana Mining Unit and will use
existing mine infrastructure including an existing interconnecting 450 metre long crosscut
Vancouver, B.C., November 2, 2021. SILVER X MINING CORP. (TSX -V: AGX) (OTC
Pink: WRPSF) (“Silver X” or the “ Company”) is pleased to report recent systematic surface
channel sampling results along 1.8 kilometres of the Cauca silver -gold-polymetallic vein at its
Nueva Recuperada project in Huancavelica, Perú. The outcropping Cauca vein extends over 1.77
kilometres at surface at an average width of 1.8 metres and grades up to 1,296 g/t AgEq. The
interpreted strike-length of the vein is 2.2 kilometres long. Preliminary sampling results from the
Cauca mineralized structure where it is exposed on surface indicates that it may be longer, wider,
and have better grades at surface than the parallel Tangana 2 mineralized structure. The two
Tangana structures underpin the Tangana Mining Unit that is currently providing ore to the process
plant at a rate of 600 tonnes per day. Follow-up exploration has determined structural controls on
mineralization in preparation for an initial underground resource drill campaign. Pending further
positive geochemical sampling results, the proximity of the Cauca vein to the Tangana Mining
Unit located 450 metres to the south, will facilitate low -cost development and mining through an
existing underground crosscut interconnecting the structures.
The Cauca silver -gold-polymetallic vein is hosted within a volcanic terrane incorporating
significant zones of magmatic breccia with intermittent andesitic dome occurrences. Narrow dykes
of biotitic diorite intrusive have been encountered in drilling. The surface exposure of the vein
occurs over 1.77 km at an average width of 1.8 metres . Continuity of m ineralization in most
mineralized intermediate epithermal silver -gold-polymetallic structures is generally erratic in
nature. Recent results from surface channel sampling infer that Cauca has an average grade of 264
g/t AgEq (100 g/t Ag, 1.2 g/t Au, 1.6% Pb and 0.5% Zn). In addition to the nearby Tangana 1 & 2
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veins located to the SW, Cauca is also located relatively close to the intervening subparallel
Morlupo structure which occurs some 330 metres to the SW ( 0.4 kilometres long , 1.6 metre
average width), subparallel and closer to the Tangana 2 vein.
José Garcia Chief Executive Officer of Silver X commented, “Our focus is on expanding and
improving our understanding of the central Tangana mining unit which includes the Cauca,
Tangana 1 & 2 , Morlupito and Morlupo veins. The recent channel sampling resul ts from Cauca
indicate the strong grade and continuity of the mineralised structure seen in the other 3 members.
Our initial drill campaign which is due to start Q1 2022 will test these structures for delivery of an
upgraded resource statement targeted for first half of 2022.”
The Company is prioritizing underground mine development and resource expansion drilling in
this extensive system of silver -polymetallic veins to provide feed for a programmed increase in
production to 720 tons per day at Tangana . Pr eliminary budgeting for 2022 has included a
minimum of 10,000 metres of underground resource evaluation drilling on the Tangana Mining
Unit. The drilling will facilitate the evaluation of more than 500,000 tonnes of potentially
economic silver-gold-polymetallic mineralization. Of the mentioned 10,000 metres, around 3,000
m of drilling will target underground extensions of the Cauca mineralized structure.
Figure 1: Locality map of the Tangana Mining Unit, showing the location of key veins (Tangana veins located
centrally towards the North; Cauca immediately towards the North of Tangana), infrastructure, concession limits, etc.
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Figure 2: 3D image of the central Tangana Mining Unit displaying the surface profile and localities of outcropping
Tangana & Cauca Veins. (Note: Location of Tangana Mine Portal).
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Figure 3: Geological Plan and Long-section images of the location of systematic channel samples from outcropping
surface exposures of the Cauca Vein
Figure 4: Geological map showing the Cauca vein host lithology and the locality as well as compiled silver equivalent
analytical results from systematic channel sampling across outcropping surface exposure.
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Table 1: Assay results from 49 systematic channel samples taken at surface across outcropping portions of the
Cauca vein. Each sample is a complete interval taken perpendicular to mineralized structure.
Channel
Sample
ID
True
width
(m)
Metal Grades
Easting Northing Ag Au Pb Zn AgEq
(ppm) (ppm) (%) (%) (g/t)
CN1 499274 8561761 3.93 9.0 0.14 0.05 0.08 25
CN2 499266 8561765 4.79 67.7 0.54 1.63 0.25 171
CN3 499249 8561780 3.00 10.2 0.50 0.12 0.11 56
CN4 499074 8561874 8.00 92.3 3.17 0.48 0.21 354
CN5 499885 8561427 1.10 19.5 0.18 0.00 0.06 36
CN6 499876 8561439 2.10 1.4 0.05 0.01 0.01 6
CN7 499874 8561434 0.40 1.9 0.61 0.05 0.17 56
CN8 499866 8561444 0.20 17.0 0.71 0.36 0.33 98
CN9 499831 8561461 0.70 8.4 0.33 0.32 0.29 57
CN10 499061 8561875 2.79 591.7 2.32 0.52 0.87 829
CN11 499051 8561876 1.10 203.0 2.90 2.64 1.52 573
CN12 499037 8561880 3.00 4.8 0.36 0.06 0.11 39
CN13 499024 8561892 3.00 6.7 0.76 0.17 0.10 73
CN14 499810 8561477 1.45 3.0 0.15 0.03 0.02 16
CN15 499798 8561483 3.60 12.4 0.52 0.14 0.02 56
CN16 499330 8561715 2.40 62.1 0.46 1.63 0.21 159
CN17 499336 8561706 1.60 462.0 2.62 17.91 1.35 1297
CN18 499349 8561691 0.80 38.6 2.19 0.60 0.72 254
CN19 499002 8561905 1.65 11.0 1.09 0.32 0.10 107
CN20 498824 8562021 0.80 516.0 0.65 2.04 0.87 676
CN21 498818 8562025 1.80 44.5 1.32 0.32 0.44 174
CN22 498792 8562042 2.00 22.4 0.30 0.07 0.48 70
CN23 498376 8562300 0.35 69.4 6.08 0.61 0.07 545
CN24 498352 8562314 0.45 137.0 2.79 0.00 0.11 354
CN26 499846 8561457 0.55 4.1 0.28 0.12 0.03 31
CN27 499837 8561457 0.30 71.5 0.85 0.00 0.11 143
CN28 499823 8561469 1.40 5.0 0.85 0.08 0.02 72
CN29 499364 8561695 0.72 21.4 1.15 0.17 0.60 140
CN30 499378 8561684 0.50 7.4 0.22 0.15 0.88 69
CN31 499481 8561622 2.00 393.5 3.10 8.11 3.05 1085
CN32 499490 8561624 0.70 17.5 0.14 0.42 0.76 77
CN33 499315 8561726 0.30 303.0 0.78 8.45 0.81 689
CN34 499304 8561733 1.20 206.0 0.39 6.53 0.72 489
CN35 499294 8561740 1.50 125.3 0.87 1.31 1.10 284
CN36 498992 8561914 1.00 6.8 1.35 0.14 0.23 125
CN37 498982 8561927 1.30 4.5 0.36 0.05 0.07 36
CN38 498966 8561932 2.10 7.1 0.83 0.19 0.08 79
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CN39 498961 8561935 1.80 4.2 0.13 0.12 0.12 23
CN40 498950 8561938 1.90 5.4 8.77 0.06 0.12 663
CN41 498945 8561947 3.90 5.9 0.36 0.18 0.09 43
CN42 498934 8561956 4.00 4.5 0.34 0.12 0.09 38
CN43 498914 8561969 2.70 62.0 1.91 0.61 0.23 236
CN44 499498 8561621 0.75 146.0 0.68 3.89 1.01 369
CN45 499507 8561616 1.65 90.0 0.50 5.40 0.51 329
CN46 499527 8561604 1.00 231.0 0.79 4.29 1.76 519
CN47 499539 8561600 0.60 538.0 0.97 6.48 0.77 856
CN48 499553 8561593 1.70 84.4 0.20 1.22 0.55 165
CN49 498901 8561979 1.20 15.9 0.23 0.07 0.08 39
Sampling, Analytical Analysis, Quality Assurance and Quality Control (QAQC)
Rock-chips from all surface channel sampling are taken as near as perpendicularly as possible
across silver-polymetallic structures and stored on-site in clearly labelled plastic sample-bags in a
secure storage facility attached to the Company core -shed. Channel sample length and locality
coordinates are registered. The geological description of the sample is recorded. Where
mineralized vein structures are fully exposed in surface outcrop, sampling is done from one side
of the mineralized structure to the o ther. Minimum sample lengths are dependent on width of
available outcrop. The lengths of the reported channel samples are indicated in the tabulated
information as presented in Table 1. Taking care not to allow contamination of the sample, each
channel sam ple is collected with the use of a hammer and chisel. Rock chips representing a
minimum channel width of 10 cm and minimum channel depth of 5 cm are carefully stored in a
plastic bag. Samples have unique number identifiers for “chain of custody” tracking o f samples
and for subsequent incorporation into the database once QAQC sign -off on analytical results has
been received. Depending on the width, length, depth, and bulk density of the channel sample,
approximately 3-5 kg per sample are collected for analysis.
The samples are shipped by Company 4x4 vehicle from the field to the certified and independent
Certimin analytical laboratory facility in Lima. Certimin complies with ISO 9001, OHSAS 18001
and is a fully recognized and certified facility. After the un derground channel samples have been
prepared for analysis (code G0640), the sample pulps are then analyzed for gold, silver, and multi-
elements using relevant Certimin analytical methodologies. All samples are analyzed using 30 g
nominal weight fire assay with an ICP finish (code G0108) and multi -element four acid digest
ICP-AES/ICP-MS methodology (code G0176). Where Au analytical results from G0108 are >10
g/t, the analysis is repeated with 30 g nominal weight fire assay and a gravimetric finish (code
G0014). Where multi-element results from G0176 are greater than 100 ppm for Ag, the analysis
is repeated with ore -grade four acid digest method (Code G0002). Where multi -element results
from G0176 are greater than 10,000 ppm for Cu, Pb or Zn, the analysis is repeated with ore-grade
four acid digest methods, respectively codes G0039, G0077 and G0388. Periodically, duplicate
sample pulps are sent to independent umpire laboratories for review and checking of Certimin
analytical analyses results.
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Silver X Mining h as introduced a fully NI 43 -101 compliant quality assurance/quality control
(QAQC) protocol on all its advanced and exploration projects. Our trained QAQC staff insert both
fine and coarse blank samples, field duplicates and twin samples into each batch of field samples
prior to delivery to the i ndependent certified analytical laboratory. The QAQC control samples,
including the random insertion of certified reference material, are designed to test the integrity of
the samples by providing an independent check on precision, accuracy, and possibilit ies of
contamination during sample preparation and analytical procedure within the elected commercial
laboratory. With the objective of assuring best practice compliance, resource and exploration
related assay results are not reported until the results of internal QAQC procedures have been
reviewed and approved.
Qualified Person
Mr. A. David Heyl who is a qualified person under NI 43 -101, has reviewed and approved the
technical content of this news release for Silver X. Mr. Heyl, B.Sc., C.P.G., QP is a Ce rtified
Professional Geologist and Qualified Person under NI 43 -101. With over 25 years of field and
upper management experience, Mr. Heyl has a solid geological background in generating and
conducting exploration and mining programs for gold, rare earth metals, and base metals, resulting
in several discoveries. Mr. Heyl has 20 years of experience in Peru. He worked for Barrick Gold,
was the exploration manager for Southern Peru Copper, and spent over twelve years working in
and supervising underground and open pit mining operations in the Americas. Mr. Mr. A. David
Heyl is a consultant for Silver X.
About Silver X Mining
Silver X Mining is a Canadian silver mining company with assets in Peru and Ecuador. The
Company’s flagship asset is the Nueva Recuperad a silver lead zinc project located in
Huancavelica, Peru. Founders and management have a successful track record of increasing
shareholder value. For more information visit our website at www.silverx-mining.com.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of
the securities described in this news release in the United States. Such securities have not been,
and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S.
Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within
the United States, or to or for the account or benefit of persons in the United States or "U.S.
Persons", as such term is defined in Regulation S promulgated under the U.S. Securities Act,
unless registered under the U.S. Securities Act and applicable state securities laws or pursuant
to an exemption from such registration requirements.
ON BEHALF OF THE BOARD
José M García
CEO and Director
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For further information, please contact:
Silver X Mining Corp.
+ 1 604 358 1382 | [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Cautionary Statement Regarding “Forward-Looking” Information
This press release contains “forward -looking information” within the meaning of applicable Canadian securities
legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such
as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”,
“anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain acts,
events or results “may”, “could”, “ would”, “might” or “will be taken”, “occur” or “be achieved”. Forward -looking
information in this press release may include, without limitation, exploration plans, results of operations, expected
performance at the Tangana Mining Unit and the expected financial performance of the Company.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause
the actual results, level of activity, performance, or achievements of the Company, as the case may be, to be materially
different from those expressed or implied by such forward-looking information. Although the Company has attempted
to identify important factors that could cause actual results to differ materially from those contained in forward-looking
information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be
no assurance that such information will prove to be accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward -looking
information. The Company does not undertake to update any forward-looking information, except in accordance with
applicable securities laws.