Forty Pillars Mining Corp. Completes Exploration Program on the Silver Dollar Project
Vancouver, B.C. – November 29, 2024 ‐ Forty Pillars Mining Corp. (CSE: PLLR) (the “Company” or “Forty Pillars”) is pleased to announce the successful completion of a late-season exploration program on the Silver Dollar Project (the “Project,” or the “Property”) located 45 kilometers southeast of the city of Revelstoke and 15 kilometers north-northeast of the community of Trout Lake, British Columbia.
Highlights
- 26 rock samples collected comprising grab* and channel samples
- High-grade mineralization observed in-situ within historical and in newly discovered outcrop;
Assays pending.
- Previous sampling has produced bonanza-grade silver, gold, and base metal values.
- Potential for new discoveries along under-explored km-scale corridor.
The objective of this fieldwork was to systematically target the historical past-producing Silver Dollar and Beatrice mines. Located over one kilometer apart, the Company believes these prospects represent an underexplored Ag-Au mineralized corridor that stretches along the Camborne fault system. Known historical workings were confirmed and examined, and previously-undocumented mineralization was discovered along strike from these workings. A total of 19 rock grab samples and seven channel samples of various lengths were collected.
Mineralization observed within rock samples comprised galena, sphalerite, chalcopyrite, pyrite and arsenopyrite in varying amounts. Sulphide-bearing quartz veins were the dominant sample material, with rare entrained phyllite or metasediment clasts. Rock grab samples were taken from outcrop, exposed muck piles near historical workings, and from within historical trenches. Channel samples were collected from outcrop by using a gas-powered saw equipped with a circular diamond blade. Parallel cuts approximately 3-4 cm apart were cut to depth, after which rock slabs were removed with a hammer and chisel.
The Silver Dollar Project
The Silver Dollar Project is located 45 kilometers southeast of the city of Revelstoke and 15 kilometers north-northeast of the community of Trout Lake, British Columbia. The Project consists of 10 contiguous claims covering 3,344.68 hectares which includes two Crown grants totaling 41.85 hectares of land. The project encompasses numerous historical small-scale past-producing mines that exploited highgrade gold, silver, and base metal mineralization associated with the prolific Camborne fault. Most notably, the Silver Dollar mine produced 9.8 kg Ag, 1,378 kg Pb, and 1,009 kg Zn from a single 6 tonne shipment in 1947 (BC Minfile 082KNW101).
More recent exploration since 2017 has produced bonanza-grade gold and silver rock samples, including 57.1 g/t Au & 108 g/t Ag returned from a grab sample at the Gillman occurrence, and 1,991 g/t Ag in a select grab sample from the Beatrice (BC Minfile 082KNW040) Crown grant. Airborne data collected in 2019 clearly defines the Camborne fault striking through the entirety of the Project, and soil samples collected since 2017 have outlined multi-element anomalies tracing this mineralizing structure.
*The reader is cautioned that grab samples by nature are selective and therefore may not be representative of the mineralization being evaluated.
Qualified Person
Patrick McLaughlin, P.Geo. (#41479), a “Qualified Person” for the purposes of National Instrument 43- 101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
About Forty Pillars
Forty Pillars Mining Corp. is a Vancouver, B.C. based mineral exploration company focused on exploring the Silver Dollar Project located in the Greenwood Mining Division, B.C.
FOR FURTHER INFORMATION CONTACT:
Nader Vatanchi Chief Executive Officer
p: 778-881-4631
Neither the Canadian Securities Exchange nor its Market Regulator (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news release.
Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to: statements with respect to anticipated results of the Project, the exploration work and further exploration or drilling work in the future, the mineralization potential of the Project and the Company’s objectives, goals or future plans with respect to the Project. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “anticipates”, “anticipated” “expected” “intends” “will” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are from those expressed or implied by such forward-looking statements or forward-looking information subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different, including receipt of all necessary regulatory approvals. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or 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 statements 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 statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.