Highlander Silver Announces Acquisition and Resulting 100% Ownership of the LA Estrella Epithermal Silver – GOLD Project IN Huancavelica Province, Central PERU
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HIGHLANDER SILVER ANNOUNCES ACQUISITION AND
RESULTING 100% OWNERSHIP OF THE LA ESTRELLA
EPITHERMAL SILVER – GOLD PROJECT IN HUANCAVELICA
PROVINCE, CENTRAL PERU
March 23, 202 3 - Vancouver, British Columbia – Highlander Silver Corp. (CSE:HSLV) (the
“Company” or “Highlander Silver ”) is pleased to announce that it has acquire d the 400 hectare
Estrella 001 concession pursuant to an agreement with Compañía Minera Ares S.A.C. and the
contiguous 200 hectare Estrella 002 concession by auction from the Peruvian mining authority.
Highlights
• Acquisition of the La Estrella epithermal silver – gold advanced exploration stage pr oject,
plus historical data base in Huancavelica Province, Central Peru.
• Historical significant drill intercepts, for example 70.5 m returning 0.84 g/t Au and 71.8 g/t Ag,
including 22 m of 1.41 g/t Au and 144.9 g/t Ag in hole DDH-E12 confirm prospectivity.
The La Estrella project is located in the Huancavelica Department, Central Peru, about 250 km ESE
of Lima, on the eastern slope of the Western Cordillera. It is within the prolific Miocene polymetallic
belt, approximately 34 km NNE of the Julcani Mine, which has produced over 105 million ounces of
silver from high grade vein mineralisation averaging 16 ounces per ton since production started by
Buenaventura in 1953 (Hector Barrionuevo, Julcani – Mina emblematica de Minas Buenaventura con
63 años de operación. PERU XVIII Peruvian Geological Congress).
Mineralisation at La Estrella occurs spatially and genetically associated with a sequence of volcanic
and subvolcanic rocks, comprising coarse fragmental dome- diatreme andesite, massive porphyritic
andesite and dacite dome facies, with late stage emplacement of amygdaloidal, biotite- feldspar
porphyritic lamprophyre dykes and sills. These rocks lie on the hanging wall of a west-dipping fault,
against redbeds of the Permo-Triassic Mitu Formation.
From 2003 to 2012 a total of 8,500 m was drilled in 41 holes defining a NNE tabular, west dipping
mineralised system approximately 1,800 m long north to south, up to 300 m wide east to west, and
200 m thick. The deposit, which is open to the north, south and also down dip to the west, consists
of multi -episodic polymetallic (Ag- Au ±Pb ±Zn ±Cu) intermediate sul phidation epithermal
mineralisation that often starts in drill holes within a few metres from surface.
Drill results show continuous minerali sation over long intercepts , for example in drill hole DDH-E12
(the diamond core extension of drill hole RC -E11) mineralisation extends over 70.5 m between 144
m and 214.5 m returning 0.84 g/t Au and 71.8 g/t Ag, and in hole DDH-E23, which returned 112.8 m
(from 84.4 m to 197.2 m) of 0.41 g/t Au and 21.4 g/t Ag average grade. Narrower, higher-grade
intercepts are commonly found within the longer intervals, for example 22 m of 1.41 g/t Au and 144.9
g/t Ag also in hole DDH-E12, 3.0 m (from 36.0 m to 39.0 m) grading 1.07 g/t Au and 147.6 g/t Ag in
hole DDH-E3 and 5.1 m (from 155.0 m to 160.1 m) grading 0.88 g/t Au and 225.4 g/t Ag in hole DDH-
E23. Table 1 below shows selected drill results.
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Table 1. Selected drill results from: Bear Creek Mining News Release, June 2003; Canadian Shield
News Release, February 2008 and Estrella Gold News Release, September 2012.
Acquisition terms
The Estrella 001 concession was transferred from Compañía Minera Ares S.A.C. (a subsidiary of
Hochschild Mining) for a nominal fee to cover administrative expenses and a 2% Net Smelter Return
(NSR) royalty. The Company, at it´s sole discretion and at any time may purchase 50% of the NSR
for a consideration of US$200,000 (two hundred thousand United States dollars) and the remaining
50% for a consideration of US$300,000 (three hundred thousand United States dollars) . It is
anticipated that the concession will be registered in the Peruvian Public Registry over the coming
weeks.
The Estrella 002 concession was acquired via auction with the Peruvian Mining Authority for
consideration of USD$31,000 (thirty one thousand United States dollars).
In addition, the Company has acquired the La Estrella project data base including diamond drill core,
assay results and laboratory certificates from Alianza Minerals Ltd. in consideration for the payment
of CAD$ 15,000 (fifteen thousand Canadian Dollars) and the issuance of 75,000 (seventy five
thousand) common shares of Highlander Silver.
David Fincham, President & CEO commented “ We are very excited to have both consolidated the
mining tenure over the entire La Estrella mineral system and acquired the historical project data. This
acquisition brings an advanced exploration stage, high quality silver – gold project into the Company´s
portfolio at a very reasonable cost. Historical significant silver and gold drill intercepts plus open
mineralisation in all directions provide the basis of our enthusiasm for this compelling exploration
opportunity. We believe that applying innovative, systematic exploration has the potential to expand
known mineralisation and identify further high grade zones in the mineral system. Our first technical
priority will be to build a geologic model from the extensive data base that will guide future exploration
programs focused on adding value to the project. In parallel we will engage with the local community
and other stakeholders to ensure optimal relationships are in place to support development at La
Estrella. The company continues to seek additional acquisition opportunities that will add value for
our shareholders, and we expect to be providing updates on this and the development of our current
portfolio regularly over the coming months.”
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Qualified Person
All scientific and technical information contained in this news release has been reviewed and is
approved by Graeme Lyall (FAusIMM Nº224791), non-executive Director at Highlander Silver Corp,
who serves as the qualified person (QP) under the definitions of National Instrument 43-101.
About Highlander Silver
Highlander Silver Corp. is a mineral exploration company focused on the exploration of silver -
polymetallic projects in central Peru, as well as targeting the acquisition of additional mineral projects
by leveraging the team’s significant experience in Peru and South America more widely. Additional
information about Highlander Silver and its mineral projects can be viewed on the Company’s SEDAR
(www.sedar.com) profile at www.sedar.com and its website at www.highlandersilver.com
Neither the Canadian Securities Exchange (CSE) nor the Investment Industry Regulatory
Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this news
release.
For further information, please contact:
David Fincham
Chief Executive Officer
Highlander Silver Corp.
(604) 283 7630
Forward-Looking Information
Certain information contained in this news release constitutes “forward- looking information” under
Canadian securities legislation. This includes, but is not limited to, information or statements with
respect to the future exploration plans of the Company, permitting and timing of future exploration.
Such forward looking information or statements can be identified by the use of words such as
“anticipates”, “plans”, “suggests”, “targets” or “prospects” or variations (including negative variations)
of such words and phrases, or state that certain actions, events or results “will” be taken, occur, or
be achieved. Forward- looking information involves known and unknown risks, uncertainties, and
other factors which may cause the actual results, performance, or achievements of the Company
and/or its subsidiaries to be materially different from any future results, performance, or achievements
expressed or implied by the forward-looking information. Such factors include, among others, general
business, economic, competitive, political and social uncertainties, the actual results of current
exploration activities, , changes in project parameters as plans continue to be refined, , accident,
labour disputes and other risks of the mining industry, and delays in obtaining governmental approvals
or financing. Although the Company has attempted to identify important factors that could cause
actual actions, events or results to differ materially from those described in forward- looking
information, there may be other factors that could cause actions, events or results to differ from those
anticipated, estimated or intended. Forward-looking information contained herein are made as of the
date of this news release. There can be no assurance that forward- looking information will prove to
be accurate, as actual results and future events could differ materially from those anticipated in such
statements. The Company undertakes no obligation to update forward- looking inform ation if
circumstances or management’s estimates or opinions should change, except as required by
applicable securities laws. Accordingly, the reader is cautioned not to place undue reliance on
forward-looking information.