Highlander Silver moves to acquire High-Grade Silver Politunche Property in Miocene Polymetallic Belt of Central Peru
Highlander Silver moves to acquire High-Grade Silver Politunche Property in
Miocene Polymetallic Belt of Central Peru
November 30, 2021 - Vancouver, British Columbia – Highlander Silver Corp. (CSE:HSLV) (the “Company”
or “Highlander”) is pleased to announce the recent signing of a Letter of Intent (“LOI”) which lays out
proposed terms for an option to purchase 100% of the 600 hectare Politunche Property (“the Property)
located in the prolific, silver- rich polymetallic belt of central Peru and just 15 kilometres from the
company´s flagship, Alta Victoria Project.
Letter of Intent Deal Terms
The company can earn 100% ownership of the property by:
• Paying a total of US$2,000,000 cash in payments over 4 years (including a balloon
payment of US$1.64M on completion of 4 year term);
• Drilling a minimum of 2,500 metres;
• Owner retains a 2% NSR which Highlander may buy back for US$500,000 per 1%; and
• Upon completion of a Positive Feasibility St udy the Company will pay US$1M to the
vendor.
Property Location
The maps in Figure 1 below show the location of the property in relation to Alta Victoria and other
important mines and deposits in the district.
Figure 1
Mineralization & Characteristics of the Property
Discovery potential lies in delineating high grade mineralisation within a multitude of discrete veins and
breccia zones similar to mineralisation initially sampled by Highlander. Highlights of the results from this
sampling return the following:
• sample 2019004 with 879 g/t Ag, 0.89 g/t Au, 1.4% Pb, 5.4% Zn from talus block grab
• sample 2019006 with 1,535 g/t Ag, 0.64 g/t Au, 1.53% Pb and 1.21% Zn over 0.6m
• sample 2019008 with 511 g/t Ag, 0.11 g/t Au, 3.61% Pb, 6.53% Zn over 0.3m
This high grade silver with associated zinc, lead & gold is hosted in a large area of strong hydrothermal
alteration of Miocene volcanic domes, dikes, flows and pyroclastic rocks shown in Figure 2 below.
Furthermore, there is evidence of potential for bulk min eable mineralisation seen in the photos below
where stockwork, vein swarms and disseminated mineralisation may be hidden under thin cover.
Previous work leading up to the completion of 11 diamond core drill holes in 2011 includes geologic
mapping, with surface soil and rock sampling.
Figure 2
Mine dump grab with
241ppm Ag, 2.62% Pb, 4.26%
Rock chip 60cm vein-bx outcrop
1535 ppm Ag, 1.5% Pb, 1.2% Zn
Stockwork veining in fine grain
pyroclasitc rocks under thin
cover (results pending) 30cm chip, banded vein from 1.5m wide
open cut 511ppm Ag, 3.61% Pb, 6.53% Zn
Vein swarm & stockwork in outcrop
mineralisation (results pending)
Talus block grab sample with
879ppm Ag, 1.4% Pb; 5.43% Zn
“The successful acquisition of the Politunche Property will add important discovery potential for
Highlander,” said President and CEO, Ron Stewart. “ Not only does Politunche appear highly prospective,
its close proximity to the company´s base of field oper ations will complement our ongoing work at Alta
Victoria where we continue to discover new zones of mineralisation.”
Highlander maintains an active dialogue and excellent relationship with the local communities and
landowners in the vicinity of its projects. The Company recognizes the critical role community support
plays in achieving its exploration goals. Additional information about Highlander and its mineral projects
can be viewed on the Company’s SEDAR profile at www.sedar.com and its website at
www.highlandersilver.com.
Quality Control
All rock and soil samples reported in this press release were delivered to ALS Laboratories, a certified
laboratory located in Lima, Peru for preparation and analysis. Rock samples were weighed, dried, crushed
to 70% <2mm and riffle split while soils were weighed, dried and screened to -180 µm. A 250g subsample
was pulverized to 85% <75 µm for both rock and soil sample types. All samples were assayed using a 30g
nominal weight fire assay with atomic absorption finish (Au -AA25) for gold, and 48 elements by 4 -acid
ICP-MS (method ME-MSC61). When MS61 results were >100ppm for Ag and 10,000 for Pb, Zn and Cu
assays were reported using four-acid digest method (Ag -OS62 and base metal ME-OG62). No standards
or blanks were inserted by Highlander. ALS routinely inserts certified gold, silver and base metal
standards, blanks and pulp duplicates, and results of all ALS QA/QC samples are reported. The standard,
blank and duplicate samples used by ALS were considered sufficient QA/QC for Highlander’s sample
analysis.
Management Consulting Agreement
In connection with his role as President and CEO, Highlander has entered into a management consulting
agreement with Ronald Stewart . As part of his compensation, Highlander proposes to issue 50,000
common shares of the Company to Mr. Stewart in the coming days. Subject to approval of the board, and
based on Mr. Stewart’s performance, a further 250,000 common shares may be issued on August 12,
2022, and 300,000 on August 12, 2023. The shares will be subject to a 4 month hold from the date of
issuance.
The issuance of shares to Mr. Stewart constitutes a “related party transaction” under Multilateral
Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The
Company will rely on the exemptions from the formal valuation and minority approval requirements set
out in subsection 5.5(a) and subsection 5.7(a) of MI 61-101 in connection with the share issuance, as the
fair market value of the share issuance does not exceed 25% of the Company’s market capitalization. Prior
to the share issuance, Mr. Stewart did not own any shares of Highlander, and will own less than 1% of the
common shares following issuance of the above noted shares.
Qualified Person Statement
All scientific and technical information contained in this news release was prepared and approved by
Ronald Stewart, P.Geo., President and CEO of Highlander Silver Corp. who is a Qualified Person as defined
in NI 43 -101. Mr. Stewart has verified the scientific and technical information disclosed in this news
release by reviewing the sampling, analytical and drilling data from the Property, as well as reviewing and
referencing published scientific papers and government assessment reports related to the Property that
outline their geology and structure, mineralization potential, and deposit style.
About Highlander Silver Corp.
Highlander Silver Corp. is a mineral exploration company focused on the exploration of the Alta Victoria
silver-polymetallic project 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.
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:
Ronald Stewart
Chief Executive Officer
Highlander Silver Corp.
(604) 283 7360
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 entering into and terms of the Agreement, the future exploration plans of the Company, costs and timing
of future exploration, anticipated results of exploration, potential mineralization of the Property, potential
for future acquisitions and anticipated timing of such acquisitions . Such forward looking information or
statements can be identified by the use of words such as “believes”, “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 othe rs, general business, economic, competitive, political and social
uncertainties, the actual results of current exploration activities, conclusions of economic evaluations,
changes in project parameters as plans continue to be refined, future prices of precious and base metals,
possible variations of ore grade or recovery rates, failure of plant, equipment, or processes to operate as
anticipated, accident, labour disputes and other risks of the mining industry, and delays in obtaining
governmental approvals or financing, or in the completion of development or construction activities.
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 information 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.