Silver Valley Metals Announces Highest Priority Drill Target in a New Area Outside Historic Mines at its Ranger-Page Project in the Silver Valley,
Silver Valley Metals Announces Highest Priority Drill Target in a New Area
Outside Historic Mines at its Ranger-Page Project in the Silver Valley,
Northern Idaho, USA
VANCOUVER, BC
,
Feb. 22, 2023
/CNW/ - Silver Valley Metals Corp. (TSXV: SILV) (OTCQB: SVMFF) ("Silver Valley" or the "Company"), is pleased to announce
a new and significant exploration target discovery,
the Spring target
, outside the areas of known mineralization and historic mines at the Ranger-Page Project,
Silver Valley
, Idaho.
To view the Spring Target in a 3-D multi-media audio-video click:
https://tinyurl.com/yc7327fs
Highlights:
The highest priority target defined to date at the project and the first target located outside the area of the historic mines on the project
A very large and significant near surface coincident Induced Polarization and Resistivity anomaly measuring
850 metres
of strike length and
375 metres
of
down dip extension from
near surface
identified
Very importantly, the target is located at the
intersection
of the geologically significant Government Gulch Fault and Spring Fault. Both faults extend through
to the adjacent Bunker Hill property and are regarded as important emplacement structures
These faults intersect on the Ranger-Page project only
The Spring-Government Gulch fault intersection is analogous to the Page-Curlew fault intersection on the project, which is related to the formation of the
historic and top ten historical producer in the District, Page Mine (owned by Silver Valley Metals Corp.)
Zinc, lead, and copper – strong anomalous surface geochemistry results collected on top of the Resistivity and Induced Polarization anomalies and at the
intersection of two major faults on the project further validates the future potential of a discovery
Situated approximately
850 metres
due south of the Company's Blackhawk mine and
1250 metres
southeast of the Company's Page Mine.
One of seven high priority
large
target areas defined from the 2022 exploration campaign all constrained within a relatively small 3km x 2km area.
To view exploration results in presentation format, click:
https://tinyurl.com/48hwhf8d
"We are very pleased to announce the discovery of the new Spring target. In an area where there had been no previous surface exploration or production,
geophysics IP, resistivity and surface geochemical surveys conducted by our field team during the 2022 field season uncovered a significant anomaly which
provides us with a very large target in a new zone.
With this excellent exploration opportunity at a key structural intersection, Silver Valley Metals' Spring Target, one of seven on the Ranger-Page project, becomes
the Company's highest priority to drill test at the start of Q3, 2023," states CEO,
Brandon Rook
.
The Spring target is located
1,250 metres
southeast from the Company's high-grade and top ten past-producer in the District, Page Mine, and located
850
metres
due south from the past producing and relatively shallow Blackhawk Mine (option to own for
Silver Valley
– see news release dated
February 9th, 2023
,
for exploration results at Blackhawk:
https://tinyurl.com/2fcvdw4v
The Spring target is one of
seven
high priority target areas that the Company has defined from its successful 2022 exploration campaign. Importantly, all high
priority areas are constrained to a relatively small area approximately 3 kilometres X 2 kilometres and each target shows significant strike and depth potential.
Figure 1: Spring Exploration Target Area (CNW Group/Silver Valley Metals Corp.)
To view an enhanced version of the Spring Target Area, please click:
https://tinyurl.com/2p8n435t
Geophysics: Induced Polarization
The ground Induced Polarization and Resistivity surveys indicate a significant and coincident anomaly exists on and at near surface. The I.P. measures a lateral
strike length of 400 metres and down-dip vertical extent of 300 metres while the Resistivity survey measures a lateral strike length of 850 metres and down-dip
vertical extent of 375 metres.
The background Induced Polarization readings observed at the Spring target's host rocks was measured at 0-4 msec, as compared to the background observed
at the
Prichard
formation (+20 msec) located west and south of the Spring target. The Spring Induced Polarization anomaly ranges between 4 and 12 msec,
which is an anomalous result from the widespread dataset accumulated during the program.
Figure 2: Spring Target Induced Polarization Anomaly (CNW Group/Silver Valley Metals Corp.)
To view an enhanced version of the Spring target figure - Geophysics: Induced Polarization Anomaly, please click:
https://tinyurl.com/2yjhxk6f
Geophysics: Resistivity
A significant increase in resistivity values at the Spring target is an indication of silicification alteration, which is closely associated with mineralization emplacement
in the Coeur d'Alene mining district. Resistivity values are significantly elevated greater than +2,000 ohm which represents the strongest geophysical signature
encountered from the 2022 exploration campaign.
Figure 3: Spring Target Resistivity Anomaly (CNW Group/Silver Valley Metals Corp.)
To view an enhanced version of the Spring Target figure – Geophysics: Resistivity Anomaly, please click:
https://tinyurl.com/yckddbyw
Geochemical Program:
A surface geochemical program was initiated to further validate the ground geophysics results and structural mapping program. Samples were collected from the
B and C soil horizons on a 30-metre spacing. At each location, a pit was dug until refusal (could not dig deeper). The B and C soil horizons were sampled
separately to assess and compare geochemical results from Ranger-Page weathered bedrock and soils to results published in other
Silver Valley
geochemical
studies. Samples were described, photographed, staked and location data collected via GPS. Results were loaded into Leapfrog Geo and displayed via a
proportional grade plot to highlight high values.
Results over the Spring target are summarized below. The geochemical survey used to validate the Spring Target reflects positive results, including significant
elevated lead, zinc and copper values up to 68ppm, 946ppm and 119 ppm respectively. Background levels of lead, zinc and copper in the project area are
typically 10 ppm, 40 ppm, 6 ppm respectively based on all 2022 Silver Valley Metals geochemical data. Trace element vector analysis is ongoing, and we expect
will further validate the Spring target.
Geochemical Results:
B Horizon Geochemical Results:
LDL
<5 ppm
<1 ppm
<2 ppm
<5 ppm
<5 ppm
<2 ppm
<3.4
Sample
ID
Easing
Northing
Elevation
(m)
As
(ppm)
Cd
(ppm)
Cu
(ppm)
Pb
(ppm)
Sb
(ppm)
Zn
(ppm)
Ag (g/t)
SF-1-1B
560750
5263340
1202
12.6
<1.0
25.1
34.2
20.8
152
<3.4
SF-1-2B
560733
5263377
1194
6.32
<1.0
33.7
19.6
18.2
128
<3.4
SF-1-3B
560733
5263416
1181
<5.0
<1.0
20.4
6.9
16.2
66.8
<3.4
SF-1-4B
560741
5263446
1174
<5.0
<1.0
22.7
11.3
20
227
<3.4
SF-1-5B
560739
5263471
1161
<5.0
<1.0
21
6.3
15.2
64.4
<3.4
SF-1-6B
560735
5263495
1149
<5.0
<1.0
20.7
21.3
15.2
60.6
<3.4
SF-1-7B
560741
5263532
1132
<5.0
<1.0
12.6
16.2
14.7
91.5
<3.4
SF-1-8B
560746
5263554
1110
<5.0
<1.0
19.5
25
16.6
162
<3.4
SF-2-1B
560832
5263577
1122
<5.0
<1.0
19.9
<5.0
19
56.6
<3.4
SF-2-2B
560832
5263546
1133
<5.0
<1.0
57.7
8.4
20.9
311
<3.4
SF-2-3B
560830
5263518
1139
<5.0
<1.0
11.1
<5.0
17.5
126
<3.4
SF-2-4B
560837
5263484
1132
<5.0
<1.0
13.3
<5.0
16.4
53.3
<3.4
SF-2-5B
560837
5263443
1130
<5.0
<1.0
23.3
6.1
17
51.6
<3.4
SF-2-6B
560831
5263402
1136
<5.0
<1.0
11.2
<5.0
17.6
46.6
<3.4
SF-2-7B
560833
5263379
1154
<5.0
<1.0
11.4
<5.0
16.4
38.5
<3.4
SF-2-8B
560831
5263351
1170
<5.0
<1.0
13.8
<5.0
13.8
29.7
<3.4
SF-2-9B
560832
5263325
1172
<5.0
<1.0
9.6
5.2
16.1
29.7
<3.4
SF-3-1B
560898
5263319
1137
<5.0
<1.0
9.9
8.3
12
79.7
<3.4
SF-3-2B
560897
5263347
1135
<5.0
<1.0
8
5.3
16.2
35.8
<3.4
SF-3-3B
560906
5263375
1129
<5.0
<1.0
11.7
9.9
15.3
281
<3.4
SF-3-4B
560902
5263407
1119
<5.0
<1.0
12.6
5.4
16.7
87
<3.4
SF-3-5B
560907
5263437
1103
<5.0
1.0
18.9
<5.0
15.2
216
<3.4
SF-3-6B
560911
5263460
1090
<5.0
1.9
14.2
6.8
14.6
163
<3.4
SF-3-7B
560926
5263485
1074
<5.0
1.9
12.9
<5.0
12.5
421
<3.4
SF-3-8B
560933
5263517
1071
<5.0
<1.0
14.7
5.6
16.6
44.6
<3.4
SF-3-9B
560934
5263546
1072
<5.0
<1.0
22.8
7.2
18.6
173
<3.4
SF-3-10B
560927
5263574
1072
<5.0
<1.0
8.7
<5.0
18.4
48.7
<3.4
SF-4-1B
560997
5263538
1019
<5.0
<1.0
14
<5.0
20.3
204
<3.4
SF-4-2B
561012
5263502
1021
<5.0
1.6
9.2
<5.0
20
313
<3.4
SF-4-3B
561006
5263472
1034
<5.0
<1.0
9.3
<5.0
21
101
<3.4
SF-4-4B
561004
5263432
1053
<5.0
<1.0
12.8
5.1
20
41.3
<3.4
SF-4-5B
561000
5263397
1070
<5.0
1.1
6.7
5.9
17.2
122
<3.4
SF-4-6B
560992
5263360
1072
<5.0
<1.0
4.5
<5.0
15.6
35.2
<3.4
SF-4-7B
560995
5263326
1071
<5.0
1.1
7.9
<5.0
18.9
154
<3.4
SF-4-8B
560992
5263286
1068
5.5
<1.0
21.1
<5.0
19.6
147
<3.4
SF-5-1B
561056
5263284
1088
6.3
1.5
26.1
10.3
27.6
364
<3.4
SF-5-2B
561056
5263314
1071
<5.0
2.3
13.8
10
23.2
207
<3.4
SF-5-3B
561065
5263342
1054
<5.0
<1.0
14
<5.0
22.7
101
<3.4
SF-5-4B
561077
5263376
1025
7.9
3.1
25.4
14.5
22.7
946
<3.4
SF-5-5B
561075
5263407
1021
8.6
3.7
24.4
68
25
339
<3.4
SF-5-6B
561090
5263442
1004
12.6
2
21.9
50.6
20.9
260
<3.4
SF-5-7B
561096
5263480
995
<5.0
1.3
23.3
14.9
22.9
809
<3.4
SF-5-8B
561093
5263509
985
<5.0
<1.0
22.8
24
25.4
173
<3.4
SF-5-9B
561088
5263537
978
<5.0
<1.0
16.2
6.3
22.7
120
<3.4
SF-6-1B
561193
5263529
990
<5.0
<1.0
18.4
14.1
19
147
<3.4
SF-6-2B
561182
5263497
1002
<5.0
<1.0
8.39
<5.0
24.1
205
<3.4
SF-6-3B
561184
5263462
1020
<5.0
1
15
<5.0
25.1
109
<3.4
SF-6-4B
561178
5263436
1030
<5.0
<1.0
20.2
8.4
23.7
138
<3.4
SF-6-5B
561173
5263416
1043
<5.0
2.4
22.2
8.1
22.3
375
<3.4
SF-6-6B
561163
5263387
1063
<5.0
<1.0
9.3
<5.0
22
88.2
<3.4
SF-6-7B
561153
5263357
1073
<5.0
<1.0
10.3
<5.0
23.2
95.7
<3.4
SF-6-8B
561145
5263336
1085
<5.0
<1.0
8.2
<5.0
22
136
<3.4
SF-6-9B
561146
5263306
1098
<5.0
<1.0
8.3
16
25.4
60.1
<3.4
SF-6-10B
561138
5263276
1121
<5.0
1.6
22.4
9.0
24.4
184
<3.4
SF-7-1B
561228
5263283
1166
<5.0
<1.0
14.3
5.5
25.2
50.9
<3.4
SF-7-2B
561247
5263313
1133
<5.0
<1.0
13.8
15.3
19
197
<3.4
SF-7-3B
561259
5263343
1119
<5.0
<1.0
13.3
<5.0
20.1
133
<3.4
SF-7-4B
561271
5263372
1108
<5.0
<1.0
11.4
<5.0
21.2
52.6
<3.4
SF-7-5B
561280
5263406
1091
<5.0
1.2
12.8
<5.0
20.5
125
<3.4
SF-7-6B
561288
5263440
1068
<5.0
<1.0
14
<5.0
17.9
172
<3.4
SF-7-7B
561283
5263470
1066
<5.0
<1.0
12.8
<5.0
16.6
35.4
<3.4
SF-7-8B
561284
5263513
1047
5.0
<1.0
9.7
<5.0
17.9
142
<3.4
SF-7-9B
561284
5263554
1024
<5.0
1.4
9.2
<5.0
19.2
218
<3.4
C Horizon Geochemical Results:
LDL
<5 ppm
<1 ppm
<2 ppm
<5 ppm
<5 ppm
<2 ppm
<3.4
Sample
ID
Easing
Northing
Elevation
(m)
As
(ppm)
Cd
(ppm)
Cu
(ppm)
Pb
(ppm)
Sb
(ppm)
Zn
(ppm)
Ag (g/t)
SF-1-1C
560750
5263340
1202
<5.0
<1.0
5.5
5
17.3
35.7
<3.4
SF-1-2C
560733
5263377
1194
<5.0
<1.0
15.7
5.6
12.9
33.4
<3.4
SF-1-3C
560733
5263416
1181
<5.0
<1.0
10.6
6
14.6
36.4
<3.4
SF-1-4C
560741
5263446
1174
<5.0
<1.0
5.9
<5.0
12.4
24.1
<3.4
SF-1-5C
560739
5263471
1161
<5.0
<1.0
10.8
<5.0
13.5
35.8
<3.4
SF-1-7C
560741
5263532
1132
<5.0
<1.0
10.1
7.8
12.4
28.8
<3.4
SF-2-1C
560832
5263577
1122
<5.0
<1.0
35.1
<5.0
22.4
33.3
<3.4
SF-2-2C
560832
5263546
1133
<5.0
<1.0
119
10.5
25.1
22.8
<3.4
SF-2-3C
560830
5263518
1139
<5.0
<1.0
<2.0
<5.0
16.2
40
<3.4
SF-2-4C
560837
5263484
1132
<5.0
<1.0
5.4
<5.0
11.5
18.9
<3.4
SF-2-5C
560837
5263443
1130
<5.0
<1.0
20.4
<5.0
9.64
14.9
<3.4
SF-2-6C
560831
5263402
1136
<5.0
<1.0
3.6
<5.0
13.9
23.7
<3.4
SF-2-7C
560833
5263379
1154
<5.0
<1.0
4.5
<5.0
16.6
27.3
<3.4
SF-2-8C
560831
5263351
1170
<5.0
<1.0
7.3
<5.0
12.4
21.1
<3.4
SF-2-9C
560832
5263325
1172
<5.0
<1.0
6.5
7
14.4
23.7
<3.4
SF-3-1C
560898
5263319
1137
<5.0
<1.0
3.5
<5.0
14.4
30.2
<3.4
SF-3-2C
560897
5263347
1135
<5.0
<1.0
3
<5.0
17
31.1
<3.4
SF-3-3C
560906
5263375
1129
<5.0
<1.0
3.1
<5.0
11.8
43.8
<3.4
SF-3-4C
560902
5263407
1119
<5.0
<1.0
3.9
<5.0
15.7
31.5
<3.4
SF-3-8C
560933
5263517
1071
<5.0
<1.0
6.5
<5.0
14
28
<3.4
SF-3-9C
560934
5263546
1072
<5.0
<1.0
10.7
<5.0
14.9
39.9
<3.4
SF-3-10C
560927
5263574
1072
<5.0
<1.0
9.8
<5.0
14.5
20.2
<3.4
SF-4-3C
561006
5263472
1034
<5.0
<1.0
2.2
<5.0
13.1
16.6
<3.4
SF-4-4C
561004
5263432
1053
<5.0
<1.0
5.3
<5.0
18.6
26.9
<3.4
SF-4-5C
561000
5263397
1070
<5.0
<1.0
10.4
<5.0
21.7
57.3
<3.4
SF-4-6C
560992
5263360
1072
<5.0
<1.0
2.5
<5.0
12.8
24.2
<3.4
SF-4-7C
560995
5263326
1071
<5.0
<1.0
4.8
<5.0
14.8
29.4
<3.4
SF-6-1C
561193
5263529
990
<5.0
<1.0
<2.0
21.3
18
26.7
<3.4
SF-6-3C
561184
5263462
1020
<5.0
<1.0
6.5
5.3
15.8
23.7
<3.4
SF-6-6C
561163
5263387
1063
<5.0
<1.0
3.3
13.4
12.3
21
<3.4
SF-6-7C
561153
5263357
1073
<5.0
<1.0
4.2
<5.0
16.6
21.5
<3.4
SF-6-8C
561145
5263336
1085
<5.0
<1.0
8.6
5.5
17.3
31.1
<3.4
SF-6-9C
561146
5263306
1098
<5.0
<1.0
14
41.4
18.3
41.4
<3.4
SF-7-1C
561228
5263283
1166
<5.0
<1.0
2.2
5.9
14.8
12.9
<3.4
SF-7-2C
561247
5263313
1133
7.2
<1.0
9.2
16.1
17.6
36
<3.4
SF-7-5C
561280
5263406
1091
<5.0
<1.0
12.7
87
18.7
33.6
<3.4
SF-7-6C
561288
5263440
1068
<5.0
<1.0
8.4
19.7
15.6
26.5
<3.4
SF-7-7C
561283
5263470
1066
<5.0
<1.0
7
<5.0
19
15.5
<3.4
SF-7-8C
561284
5263513
1047
<5.0
<1.0
7.8
11.2
15.4
27.3
<3.4
SF-7-9C
561284
5263554
1024
<5.0
<1.0
3.4
<5.0
15
65.4
<3.4
Lab Analysis – QA-QC:
Atomic absorption analysis for Silver:
American Analytical Services, Inc ("AAS") is an ISO/IEC 17025 accredited laboratory, located in
Osburn Idaho
. All analysis includes quality control measures to
ensure an acceptance standard established within AAS methods. All samples sent to AAS were checked for accuracy between the chain of custody and the
samples with the client present. Samples are dried before starting the prep process. The prep process includes crushing the sample in its entirety to 80% passing
a 10 mesh, split in a riffle box to make a 250g sub-sample and pulverized to 85% passing a 140 mesh. Analysis for AA-Ag is done by 2 or 4 acid digestion.
Detection limit for AA-Ag is 0.100 Oz/ton - 15.0 Oz/ton. Any results over the detection limit are sent to fire assay to do Ag gravimetric finish.
ICP-OES analysis for 35 element analysis:
All samples are subjected to a 4-acid digestion. Digestion QC consists of a reagent blank, control standard and for every 20 samples there is a duplicate of a
sample pulp to check RPD. To begin ICP-OES analysis, the instrument is standardized with the five working standard solutions (multi-point linear fitting). Samples
are then measured with the reagent blank, control standard and a CCV (continuous calibration verification). Once samples are analyzed, all QC is checked, and
results are sent to LIMS system to be made into the client's report.
Social Media:
Facebook:
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Qualified person
Timothy Mosey, BSc
, MSc, SME, is the qualified person for the company and qualified person as defined by National Instrument 43-101. Mr. Mosey supervised
the preparation of the technical information in this news release.
About: MexiCan
lithium - potassium (
sulphate of potash
)
project:
Silver Valley Metals Corp. owns a 100% interest in a lithium and potassium bearing salar complex comprising 4,059 hectares on three mineral concessions (the
"Mexican Projects") located on the Central Mexican Plateau in the states of
Zacatecas
, and
San Luis Potosi, Mexico
. The NI 43-101 inferred mineral resource
contains 12.3Mt of Sulfate of Potash (SOP) and 243,000 tonnes of lithium carbonate equivalent (LCE) and remains open in all directions for expansion.
About: Ranger-Page project:
The Ranger-Page Project ("The Project") is in the
Silver Valley
, northern
Idaho, USA
, 60 kilometres east of Coeur d'Alene and 1 kilometre from the I-90 freeway.
In 2020 Idaho was ranked the first in the world in policy perception and 9th best mining jurisdiction (Fraser Institute Annual Mining Survey). The Project borders
the famous Bunker Hill Mine to the east and for the first time consolidates the western extent of the prolific
Silver Valley
mining corridor by one operator in the
past 100+ years.
The Project comprises 6 historical mines on patented claims, without royalties. The largest of these, the Page Mine, was a top ten producer in the
Silver Valley
yielding over 1.1 billion pounds of zinc and lead and 14.6 million ounces of silver. The Page Mine has high grade silver-zinc-lead historic reserves and remains
open at depth and along strike beyond what has been identified to date.
Historical mining on the properties shared underground infrastructure which connected the larger Page mine with five shallow historic mines within the larger
Project area. The Company has underground mining data and surface geological data that supports high grade silver-zinc-lead mineralization present within the
shallow, undeveloped mines. These mines remain open at depth, and laterally along strike.
Exploration potential beyond the historic mines is considered significant as modern systematic exploration is being applied to the project for the first time.
About: Silver Valley Metals:
Silver Valley Metals Corp. is a Canadian exploration company comprised of a group of experienced exploration, mining, and financing specialists focused on the
pursuit of mineral discovery and development. We are focused on the advancement of strategic and precious mineral properties including Lithium-Potash in
Mexico
and Silver-Zinc-Lead in northern
Idaho
, USA.
Link to Website:
http://www.silvervalleymetals.com
On behalf of the Board of Directors of Silver Valley Metals,
"Brandon Rook"
Brandon Rook
, President & CEO, Director
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASE.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate
to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that
express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and
may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to
differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and
on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the
maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the
completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity
of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of
prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's
expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed
elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-
looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them
to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
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SOURCE
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For further information:
please contact us at: 604-800-4710, [email protected]
CO: Silver Valley Metals Corp.
CNW 08:00e 22-FEB-23