Silver Valley Metals Reports Exploration Results from the Crown Point Mine; Numerous High Priority Drill Targets Identified at its Ranger-Page Project in the Silver Valley, Northern Idaho, USA
Silver Valley Metals Reports Exploration Results from the Crown Point
Mine; Numerous High Priority Drill Targets Identified at its Ranger-Page
Project in the Silver Valley, Northern Idaho, USA
VANCOUVER, BC
,
Jan. 26, 2023
/CNW/ - Silver Valley Metals Corp. (TSXV: SILV) (OTCQB: SVMFF) ("Silver Valley" or the "Company"), a brownfields
exploration Company with two potential high impact projects that comprise silver-zinc-lead located in north
Idaho, USA
and lithium - potassium (
sulphate of
potash
) located in
Zacatecas
and
San Luis Potosi, Mexico
respectively, is pleased to provide strong exploration results from its Crown Point Mine target at the
Ranger-Page Project,
Silver Valley
, Idaho.
Highlights:
Significant near surface coincident Induced Polarization and Resistivity anomaly matching historical trend of the Crown Point Mine
Geophysical anomaly located near surface plunging greater than 500 metres at depth and extends continuously greater than 500 metres on strike to the west
approaching the Blackhawk Mine
Silver, zinc, lead, copper, cadmium, antimony – strong anomalous geochemistry results from all elements collected along strike and coincident with
geophysics
Vein structure identified from historic trenching on surface with results returning
221 g/t silver and 1% lead
Crown Point fault structure mapped and interpreted to be a linking structure between the district scale
Osburn
fault and the Curlew fault. This fault
relationship is consistent with numerous other major mines along a 30-kilometre trend in the prolific
Silver Valley
One of seven high priority
large
target areas defined from 2022 exploration campaign within a 3km x 2km area
Historical production:
63,098 tons grading 301 g/t silver and 10.18% lead,
no recovery of zinc due to no past recovery capabilities – expect to see a
component of zinc in the future drilling campaign
To view exploration results in a compelling
multi-media video
that shows stopes, underground workings and the significant scale and scope potential beyond
what has been historically mined which is supported by exploration results click:
https://tinyurl.com/yc7327fs
To view exploration results in presentation format:
https://tinyurl.com/2d4jakn8
Dale Moore
, Exploration Director of
Silver Valley
comments, "The Crown Point Mine has always been an exciting target for our team at Silver Valley Metals. It's
the highest-grade deposit at the project, and we had strong suspicions the historic workings did not exhaust the available mineralization. Our IP survey has helped
confirm that suspicion, with our significant anomaly down plunge of the existing Crown Point stopes. Add to that a strong geochemical anomaly over the top of the
system, and it's location on a linking fault structure with the district scale
Osburn
fault, I believe we have a bullseye for our 2023 drilling campaign."
The Crown Point Target is the down plunge extension of the historic Crown Point mine, which historically mined 63,000 tons at
301 g/t silver and 10% lead
. Zinc
was never recovered when Crown Point was mined due to limited recovery capabilities at the time, but the Company believes there will be a component of zinc
when / if there are future discoveries at the target area, as evidenced in the surface sampling geochemistry.
(CNW Group/Silver Valley Metals Corp.)
To view an enhanced version: Geophysics: Induced Polarization Anomaly click:
https://tinyurl.com/yxds99tn
The Crown Point Mine and target area 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 located within an approximate 3-kilometre by 2-kilometre area, and each target has significant strike and depth potential.
(CNW Group/Silver Valley Metals Corp.)
To view an enhanced version: New Drill Target Areas click:
https://tinyurl.com/3zy42u9f
The Crown Point target is located
1,000 metres
northwest from Bunker Hill, one of America's largest underground mines, and located
650 metres
due east from
the past producing Blackhawk Mine (owned by
Silver Valley
) which remains open at depth below 365 metres. The Crown Point Mine is located
1,650 metres
east
from the Company's top ten historical producer in the District, the Page Mine. The Page Mine has exploration drilling with compelling intercepts that extend
mineralization beyond high-grade historical reserves located at the bottom of the mine (see news release dated
September 20, 2022
)
https://tinyurl.com/bdh69m34
(CNW Group/Silver Valley Metals Corp.)
To view an enhanced version of Figure 3: Crown Point Target Area click:
https://tinyurl.com/s5n32s9h
Geophysics Interpretation:
The ground Induced Polarization and Resistivity surveys indicate a significant anomaly exists
above and below
the existing Crown Point stopes, with an
interpreted plunge line matching the historical trend of the Crown Point Mine indicating the system is open at depth and to the west, trending toward and
near
the
Blackhawk Mine.
See video to view proximity of Crown Point to Blackhawk:
https://tinyurl.com/yc7327fs
The background induced polarization readings observed at the Crown Point host rocks was measured at 0-4 msec, as compared to the background observed at
the
Prichard
formation (+20 msec) located north of the Crown Point target. The Crown Point induced polarization anomaly ranges between 6 and 20 msec. The
strike and dip length of the anomaly is approximately
500 and 520 meters
respectively. Additional anomalies, one situated up dip of the Crown Point Mine, and to
the west of the Crown Point Mine are considered significant and make this area a high priority target for the Company.
Geochemical Program:
A surface geochemical program was initiated to further validate the geophysics targets. 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.
To view the geochemical surface results on plan maps please click here:
https://tinyurl.com/2d4jakn8
Results over the Crown Point anomaly reflect silver grading up to 27.1 g/t, compared to a background of less than 3.4 g/t. Lead, Zinc and Copper anomalies are
as high as 1,240 ppm, 212 ppm, and 550 ppm respectively. Background levels of lead, zinc and copper in the project area are typically 10 ppm, 40 ppm, 6 ppm
respectively.
(CNW Group/Silver Valley Metals Corp.)
Photo of a typical sample pit.
https://tinyurl.com/4jah457b
Geochemical Results:
B Horizon Geochemical Results:
LDL
<5 ppm
<1 ppm
<2 ppm
<5 ppm
<5 ppm
<2 ppm
<3.4
ppm
Sample ID
Easing
Northing
Elevation
(m)
As
(ppm)
Cd
(ppm)
Cu
(ppm)
Pb
(ppm)
Sb
(ppm)
Zn
(ppm)
Ag
(g/t)
GCE-2-17B
561609
5264237
897
37.6
<1.0
66.0
331.0
37.3
94.6
<3.4
GCE-2-18B
561624
5264260
896
30.4
<1.0
25.2
1070.0
21.4
86.4
<3.4
GCE-2-19B
561644
5264277
893
30.3
<1.0
15.9
414.0
19.6
51.4
<3.4
GCE-2-20B
561658
5264300
888
22.1
<1.0
18.0
585.0
22.7
98.9
<3.4
GCE-3-9B
561664
5264248
918
27.1
<1.0
11.0
101.0
19.1
52.5
<3.4
CP-1-1B
561638
5264420
823
28.0
1.7
21.7
87.6
23.5
208.0
<3.4
CP-1-2B
561620
5264393
827
9.8
<1.0
12.4
35.5
16.6
91.4
<3.4
CP-1-3B
561595
5264373
827
10.4
5.0
11.0
80.7
17.0
340.0
<3.4
CP-1-4B
561572
5264360
826
18.1
1.3
17.8
410.0
21.1
158.0
<3.4
CP-1-5B
561558
5264321
836
27.8
2.2
17.8
190.0
20.9
133.0
<3.4
CP-2-1B
561682
5264396
864
23.0
10.1
17.9
63.1
19.4
708.0
<3.4
CP-2-2B
561662
5264364
863
12.1
3.8
12.6
104.0
20.3
199.0
<3.4
CP-2-3B
561636
5264337
863
10.8
5.3
13.1
85.8
16.0
898.0
<3.4
CP-2-4B
561612
5264312
867
36.6
1.5
17.6
435.0
24.0
117.0
<3.4
CP-2-5B
561599
5264293
867
26.2
1.1
18.3
373.0
22.0
115.0
<3.4
CP-3-1B
561717
5264357
882
<5.0
5.3
8.4
19.5
15.4
229.0
<3.4
CP-3-2B
561696
5264339
880
6.3
<1.0
9.3
30.9
18.3
53.8
<3.4
CP-3-3B
561678
5264316
883
<5.0
2.5
12.0
31.3
17.2
156.0
<3.4
CP-4-1B
561677
5264270
897
45.5
<1.0
24.3
1050.0
24.8
73.1
<3.4
CP-4-2B
561699
5264294
897
<5.0
<1.0
9.8
122.0
18.8
93.3
<3.4
CP-4-3B
561714
5264318
891
19.7
2.5
14.7
90.4
17.4
159.0
<3.4
CP-5-1B
561766
5264354
871
11.0
14.1
18.1
42.3
17.7
1100.0
<3.4
CP-5-2B
561771
5264318
878
5.4
5.0
12.4
43.0
17.4
266.0
<3.4
CP-5-3B
561769
5264287
877
5.2
4.3
9.6
46.0
17.1
177.0
<3.4
CP-5-4B
561765
5264257
881
14.6
1.4
15.0
580.0
20.2
134.0
<3.4
CP-5-5B
561762
5264227
878
18.2
6.5
14.7
225.0
21.0
344.0
<3.4
CP-6-1B
561813
5264236
858
14.0
4.1
14.4
439.0
17.4
367.0
<3.4
CP-6-2B
561814
5264266
858
7.9
4.0
13.1
96.8
18.2
786.0
<3.4
CP-6-3B
561817
5264300
859
<5.0
3.2
10.8
82.0
16.5
191.0
<3.4
CP-6-4B
561821
5264334
857
7.2
3.7
16.7
44.2
16.7
262.0
<3.4
CP-6-5B
561817
5264364
855
16.1
1.7
19.7
40.2
19.4
216.0
<3.4
C Horizon Geochemical Results:
LDL
<5 ppm
<1 ppm
<2 ppm
<5 ppm
<5 ppm
<2 ppm
<3.4
ppm
Sample ID
Easing
Northing
Elevation
(m)
As
(ppm)
Cd
(ppm)
Cu
(ppm)
Pb
(ppm)
Sb
(ppm)
Zn
(ppm)
Ag
(g/t)
GCE-2-17C
561609
5264237
897
167.0
<1.0
550.0
281.0
304.0
212.0
27.1
GCE-2-18C
561624
5264260
896
38.9
<1.0
19.1
123.0
19.7
48.2
<3.4
GCE-2-19C
561644
5264277
893
40.2
<1.0
26.9
125.0
24.7
39.5
<3.4
GCE-2-20C
561658
5264300
888
44.8
<1.0
29.7
176.0
24.7
40.2
<3.4
GCE-3-9C
561664
5264248
918
34.7
<1.0
23.0
460.0
30.7
24.9
8.5
CP-1-1C
561638
5264420
823
21.2
1.1
36.6
33.4
37.9
127.0
<3.4
CP-1-2C
561620
5264393
827
6.4
<1.0
4.2
14.7
33.9
124.0
<3.4
CP-1-3C
561595
5264373
827
25.5
<1.0
17.5
125.0
36.7
113.0
<3.4
CP-1-4C
561572
5264360
826
21.6
<1.0
14.9
394.0
35.9
76.5
<3.4
CP-1-5C
561558
5264321
836
69.1
<1.0
16.0
240.0
33.1
60.1
<3.4
CP-2-1C
561682
5264396
864
<5.0
2.0
5.0
78.6
35.4
158.0
<3.4
CP-2-2C
561662
5264364
863
79.6
<1.0
17.2
70.2
33.5
144.0
<3.4
CP-2-3C
561636
5264337
863
8.7
<1.0
3.9
76.5
38.4
82.3
<3.4
CP-2-4C
561612
5264312
867
27.2
<1.0
32.5
460.0
36.7
56.7
<3.4
CP-2-5C
561599
5264293
867
27.9
3.1
29.2
650.0
38.0
724.0
7.1
CP-3-1C
561717
5264357
882
<5.0
<1.0
2.7
13.4
35.8
79.6
<3.4
CP-3-2C
561696
5264339
880
7.9
<1.0
3.0
11.6
<5.0
<2.0
<3.4
CP-3-3C
561678
5264316
883
<5.0
<1.0
4.3
11.0
<5.0
<2.0
<3.4
CP-4-1C
561677
5264270
897
123.0
<1.0
31.4
1240.0
50.8
62.5
5.0
CP-4-2C
561699
5264294
897
26.7
<1.0
22.7
292.0
34.7
140.0
<3.4
CP-4-3C
561714
5264318
891
21.3
<1.0
7.9
17.8
38.2
69.3
<3.4
CP-5-1C
561766
5264354
871
<5.0
<1.0
3.5
11.1
22.1
66.4
<3.4
CP-5-2C
561771
5264318
878
10.6
1.0
6.9
20.9
29.5
102.0
<3.4
CP-5-3C
561769
5264287
877
21.6
<1.0
4.7
36.2
32.9
74.3
<3.4
CP-5-4C
561765
5264257
881
18.6
<1.0
13.2
658.0
26.4
63.2
<3.4
CP-5-5C
561762
5264227
878
57.3
<1.0
31.5
520.0
56.0
76.2
<3.4
CP-6-1C
561813
5264236
858
26.8
1.3
26.3
660.0
47.3
175.0
<3.4
CP-6-2C
561814
5264266
858
<5.0
<1.0
6.6
23.9
29.9
126.0
<3.4
CP-6-3C
561817
5264300
859
10.1
<1.0
6.2
20.3
35.4
91.0
<3.4
CP-6-4C
561821
5264334
857
5.9
1.3
5.9
24.4
37.5
124.0
<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.
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.
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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For further information:
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CO: Silver Valley Metals Corp.
CNW 08:00e 26-JAN-23