Nevada Silver Commences Drilling at Its 100% Owned Belmont Silver Project, Nevada
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NEVADA SILVER COMMENCES DRILLING AT ITS 100% OWNED BELMONT
SILVER PROJECT, NEVADA
Toronto, Ontario, 13th July 2022: Nevada Silver Corporation (“NSC” or the “Company”) (TSXV: NSC) (OTCQB:
NVDSF) is pleased to announce the commencement of drill testing six priority targets at the Company’s 100%
owned Belmont Silver Project in Nevada, USA (Figures 1 and 2).
Six diamond drill holes will test specific sulfide zones within a large “elephant’ anomaly (Figure 3) which was
recently identified by Induced Polarization (IP) and Resistivity geophysical surveys completed in May (Refer
NSC news release dated 15th June 2022).
NSC’s exploration is the first significant mineral assessment of one of the earliest and richest silver mining
camps in the Tonopah district.
The six drill holes will test zones of alteration, quartz veins/silicification and sulfides associated with silver
mineralization beneath and along-trend from the historic silver mines at the abandoned Belmont silver mining
camp (Figure 4, Table 1), located 15 kilometers south of the Company’s Corcoran silver-gold deposit and 72
kilometers northeast of Tonopah in central Nevada.
Falcon Drilling Inc. (Carson City, NV) has commenced drilling at the first drill site (BSD001) and is expected to
take 4 to 5 weeks to complete the diamond drilling program.
NSC CEO Gary Lewis commented:
“The drill holes will test specific targets within a massive anomaly located beneath, and along trend from high-
grade, shallow silver deposits mined during the late 1800’s. Exploration success at Belmont, not far from NSC’s
Corcoran Silver-Gold Project, will benefit future development opportunities of both projects and we are
looking forward to receiving assay results in coming weeks.”
About the Belmont Mining District
The Belmont Silver Project covers the majority of old silver workings of the Belmont silver mining camp near
the historic Belmont ‘ghost’ town. The main mining area is located about 2 kilometers southeast of Belmont
(Figures 5 and 6). Belmont is among the earliest and richest silver mining camps in the Tonopah district with
an estimated ore head-grade averaging 25 ounces per ton of silver. Historical accounts describe numerous
prospect pits and mine openings of shallow underground workings with richest ore above the water table
where silver occurred mostly as silver chloride (cerargyrite). Silver-bearing sulfides together with copper,
molybdenum, lead, zinc and antimony minerals were reported at depth.
Figure 1. Drill rig setting up at Belmont drill site BSD001 Figure 2. Sulfide breccia intersected in
the first drill shift at Belmont
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During the camp’s silver mining heyday between 1865 and 1889 Belmont’s population was about 10,000 and
the town was the seat of Nye County Government. Two main vein systems were mined. The eastern veins
(Highbridge and Transylvania ledges) were hosted in slate and limestone and dip easterly at 40-50 degrees.
High-grade mineralization was reported adjacent to hanging walls of massive quartz veins and generally
conformable with strata of Ordovician shale, quartzite and limestone. There has been negligible exploration
during recent decades despite high-grade silver samples (up to 5,000g/t silver) collected from remnant dumps
during a surface geochemical study by the US Geological Survey in 1985.
Figure 3. Three -dimensional diagram of the Belmont ‘elephant -shaped’ resistivity anomaly. Features
(arrowed) are interpreted as high sulfide targets and pervasive silicification. Targets with yellow arrows
have been selected for priority drill testing in this program.
* northing easting comment
1 4270100 512331 Steep-dipping high
resistivity feature
with low
conductivity (IP)
2 4270100 512128 Flat, high resistivity
zone of silicification
or lithology
3 4270100 511846 Flat, high resistivity
zone & underlying
steep-dipping high
resistivity
4 4270500 512430 A high conductivity
(IP) response
dipping east with
flattened resistivity
5 4270500 512119 Vertical vein/
silicified structure
& horizontal
silicification
6 4269700 512270 Related high
conductivity (IP)
and steep-dipping
high resistivity
* All holes (BSD001-6) to be drilled towards grid
west to 150 meters planned depth but deepening
of holes will be undertaken if encouraging
mineralization is intersected.
Figure 4. Planned drill holes plotted on topography and elevation.
IP/resistivity lines (IP LINE 1-7) are shown together with the
locations of historic pits, old mine openings and access tracks.
Table 1. Drill hole descriptions.
NEVADA SILVER REPORTS MULTIPLE HIGH-PRIORITY DRILL TARGETS IDENTIFIED
FROM RECENT GEOPHYSICAL SURVEY AT THE BELMONT SILVER PROJECT, NEVADA
Toronto, Ontario, 15th June 2022: Nevada Silver Corporation (“NSC” or the “Company”) (TSXV: NSC) (OTCQB:
NVDSF) is pleased to announce that it has received results and evaluation of the recently completed Induced
Polarization (IP) and Resistivity survey at the Company’s 100% owned Belmont Silver Project in Nevada, USA.
This survey is the first significant exploration to be undertaken at the Belmont Silver Project in over a century
and has identified a large “elephant ”-shaped anomaly with multiple untested targets of potential
sulphide mineralization that will be drill-tested in the coming weeks (Figure 1).
The pole-dipole IP/Resistivity geophysical survey was completed across the abandoned Belmont silver
mining camp , located 15 kilometers south of the Company’s Corcoran Silver-Gold deposit and 72
kilometers northeast of Tonopah in central Nevada. The survey was undertaken to identify drill targets
in zones of alteration, quartz veins/silicification and sul phides asso ciated with silver mineralization
beneath and along-trend from the historic silver mines (Figure 2). A number of extremely interesting
resistivity and IP responses that indicate sulphide-rich drill targets have been identified for drill
testing.
The s tudy defined both IP responses and zones of high resistivity which appear to be due to both
stratigraphic and structurally controlled features. The s trongest IP responses are associated with
carbonaceous sediments and graphite along crosscutting structures, and many are interpreted to be
structurally controlled alteration features that have been identified at surface during recent detailed
surface mapping. Associated resistivity highs are related to vein -filled structures and pervasive
silicified/pyritic zones that include both vertical and flat-lying structures as well as lithology contacts.
Figure 1. Three-dimensional diagram of the Belmont ‘elephant-shaped’ resistivity anomaly.
Targets (white arrows) are interpreted as high sulphide targets within pervasive silicification.
N
Strong resistivity
(sulphide rich)
Moderate resistivity
(abundant sulphide)
500 meters
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Twenty-four resistivity targets and related chargeability anomalies all indicate sulphide-rich accumulations in
the vicinity of veins and from these six high priority targets have been selected for initial drill testing (Figure 2)
NSC’s CEO Gary Lewis commented:
“The geophysical results show a monster untested anomaly located beneath, and along trend from, high-
grade, shallow silver deposits mined during the late 1800s. Nevada Silver has identified very exciting drill
targets in what appears to be sulphide-rich mineralization with possible high-silver content.”
“With little-to-no exploration in more than a century, NSC is looking forward to drill testing these outstanding
targets in coming weeks and has secured drill hole permitting and a drill rig for the work.”
“Fresh discoveries of silver, favorably located close to NSC’s Corcoran Silver-Gold Project will be a huge benefit
to future development opportunities of both projects.”
Target Selection
Section data was prepared for each line traverse and Figure 3 (chargeability) and Figure 4 (resistivity)
illustrate processed data sections for the northern line (IP LINE 1) which trends along 4270500N (Figure
2). Notably, there are similar and important drill targets on all seven of the traverses.
Figure 2. IP/resistivity lines plotted on topography and elevation. The lines are labeled IP LINE 1
through IP LINE 7 from north to south respectively. Locations of h istoric pits and old mine
openings are shown as well as access tracks. Yellow stars identify NSC’s top priority drill targets.
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About Nevada Silver Corporation
Nevada Silver Corporation (TSXV: NSC) (OTCQB: NVDSF) is a multi-commodity exploration and development
company with two US-based exploration projects with NI 43-101 compliant mineral resources and an
experienced, multidisciplinary technical team and board. The Company’s principal asset is the Corcoran Silver
Project in Nevada, which has mineralization near-surface, is open in all directions, and has an Inferred Mineral
Resource of 33.5 million silver-equivalent ounces. The Corcoran Silver Project has a number of high-priority
exploration targets that provide excellent growth potential. In February 2022, NSC acquired the historic
Belmont Silver Project, which was among the earliest and richest silver mining camps in the Tonapah district,
with an estimated ore head-grade averaging 25 ounces per ton of silver. In addition to Corcoran and Belmont,
NSC has exclusive ownership and management rights over the Emily Manganese Project in Minnesota, USA.
The Emily Project contains North America’s highest-grade manganese resource and has been the subject of
considerable technical studies, with USD$24 million invested to date.
Qualified Person
The scientific and technical data contained in this news release was reviewed and approved by Ian James
Pringle PhD, who is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral
Projects.
For further Information please contact:
Nevada Silver Corporation
Gary Lewis
Group CEO & Director
T: +1 (657) 846 5299
CHF Capital Markets
Perry Rapagna
Manager, Corporate Development
T: +1 (416) 868-1079 x 230
Corcoran Ag-
Au deposit
North Belmont
Silver Project
Belmont Silver
Project
Drilling area
(Figure 2)
Figure 5. Location map of Nevada Silver
Corporation’s Belmont Silver, North Belmont Silver
and Corcoran Canyon Silver-Gold Deposit.
Figure 6. View looking east during drill rig
access preparation. The majority of historic
silver workings of the Belmont silver mining camp
are to the left (north) of this photograph.
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