Silver Dollar Samples Up to 4,311 g/t AgEQ at its 100%-owned La Joya Silver Project
FOR IMMEDIATE RELEASE
Silver Dollar Samples Up to 4,311 g/t AgEQ at its
100%-owned La Joya Silver Project
Target development continues and the Company is fully funded for next phase of
drilling once priority targets are defined
VANCOUVER, BC – February 13, 2024 – Silver Dollar Resources Inc. (CSE: SLV) (OTCQX:
SLVDF) (FSE: 4YW) (“Silver Dollar” or the “Company”) is pleased to provide an update on
drill target development work on the underexplored Coloradito-Noria portion of the La Joya silver
(Cu-Au) property (the “Property”) located in the state of Durango, Mexico.
Figure 1: Coloradito-Noria geology and MAG targets.
Target development work has primarily consisted of geological mapping with limited drill testing
to follow up on data fro m the ground magnetic (M AG) survey conducted in 2022. As previously
reported (See news release of December 15, 2022 ), the MAG survey identified three notable
anomalies (Figure 1: S-1, S-2 and S-3):
- S-1 is a parallel zone to S-2 located 400 metres (m) to the east in a generally blind area
mostly covered with caliche (hardpan) with limited outcrops of l imestone and hornfels.
Samples assayed from this area have not returned any significant results to date despite the
magnetic reactions exhibited by some of the samples.
- S-2, located approximately 400 m east of S-3, is now known as the Central Dyke Zone
where mineralization is found in association with a dyke that runs north-south to north-
northwest through the central part of Cerro Coloradito. This is the priority area for drill
target development with exploration results described in detail below.
- S-3 is coincident with the Brazo Zone where drill testing in hole NOR-23-030 encountered
intense and extensive alteration but did not intersect Brazo style mineralization. A sharp
change in angle of the intrusive contact und erscores the importance of the structural
mapping that has been taking place to better refine targeting for future drilling.
Central Dyke Zone:
Mapping and sampling to date ha s included the collection of 156 channel samples along with 14
rock samples taken from outcrop a nd dumps that have delineated the Central Dyke Zone over a
strike length of 770 m. Analytical results for all samples have been received with 134 of the 170
samples collected returning assays greater than 100 grams per tonne (g/t) silver equivalent (AgEq).
Notably, sample #161 taken from a historical underground working called Hueco Grande returned
the highest grade with an assay of 4,311 g/t (or 152.07 ounces per tonne) AgEq (Photos 1 and 2).
Photos 1 and 2: Sample 161 and where it was taken within the Hueco Grande historical working.
The breakdown of the Central Dyke Zone sample assays greater than (>)100 g/t AgEq includes:
- 67 samples >100ppm AgEq,
- 39 samples >200ppm AgEq,
- 20 samples > 400ppm AqEq, and
- 8 samples >700ppm AgEq.
Note:
The rock samples results and th e photograph above are selecti ve by nature and may not be
representative of the true grade or style of mineralization across the Property.
The AgEq results disclosed herein assume US$1,750 gold and US$22 silver per/oz, and US$4.30
copper, US$1.25 lead, and US$1.50 zinc per/lb, and 100% metallurgical recovery.
Ongoing work includes additional trenching to fu rther expose, sample, a nd interpret the Central
Dyke mineralization with the aim of refining and defining potential drill targets.
Photos 3 and 4: Trenching in the Central Dyke Zone.
“We are very pleased with the La Joya target development work and particularly the stellar
sampling results that have now delineated the Central Dyke Z one over a strike length of 770
metres," said Michael Romanik, president of Silver Dollar. "Notably, sample 161 from the Hueco
Grande working returned our highest grade to date on the Property at 152.07 ounces per tonne
silver equivalent."
Procedure, quality assurance/quality control and data verification:
All rock samples were taken, described, photogra phed, and bagged, on site. They were delivered
by Silver Dollar staff to ActLabs in Zacatecas, Mexico, ActLabs is ISO 9001:2015 certified. Gold
is analyzed by a 30g Fire Assay with AA (atomic absorption spectroscopy) finish, then gravimetric
finish if greater than 10ppm Gol d. Silver and 34 other elements were analyzed using a four-acid
digestion with an ICP-OES (Inductively Coupled Plasma Optical Emission spectroscopy) finish.
Silver, lead, zinc, and copper over limits were re -assayed using an ore-gr ade four-acid digestion
with ICP-AES (Inductively coupled plasma atomic emission spectroscopy) finish. Control samples
comprising certified reference samples and blank sa mples were systematically inserted into the
sample stream and analyzed as part of the Company’s quality assurance and quality control
protocol.
About the La Joya Silver Property:
La Joya is an advanced explor ation stage property consisting of 15 mineral concessions totaling
4,646 hectares and hosts the Main Mineralized Trend (MMT), Santo Nino, and Coloradito deposits.
The previous operator, Silvercrest Mines, released a Preliminary Economic Assessment (PEA) NI
43-101 Technical Report on the La Joya Property in December 2013. The PEA included a mineral
resource estimate on the MMT and Santo Nino deposits (See Table) that was based on 89 holes
totaling 30,085 m of Silvercrest's drilling between 2010 and 2012 (See Resource area model) . The
mineral resource estimate was reported to confor m to CIM definitions for resource estimation;
however, a qualified person of Silver Dollar has not done sufficient work to classify the historical
resource, and the Company is not treating it as a current mineral res ource. Independent data
verification and an assessment of the mineral resource estimation methods are required to verify
the historical mineral resource.
Figure 2: Planview of the MMT, Santo Nino and Coloradito deposits, and Brazo and Central Dyke zones.
The Property is situated approximately 75 kilometres southeast of the Durango state capital city of
Durango in a high-grade silver region with past -producing and operating mines, including Silver
Storm’s La Parrilla Mine, Indus trias Penoles' Sabina s Mine, Grupo Mexico's San Martin Mine,
Sabinas Mine, First Majestic's Del Toro Mine, and Pan American Silver's La Colorada Mine (See
location map). Access and infrastructure near the Property are excellent.
Mike Kilbourne, P.Geo., an independent Qualif ied Person (QP) as de fined in NI 43-101, has
reviewed and approved the technical contents of this news release on behalf of the Company.
About Silver Dollar Resources Inc.
Silver Dollar is a miner al exploration company that is fully funded to execute its near-term
exploration plans having closed its last financing with lead orders from billionaire mining investor
Eric Sprott and NYSE-listed First Majestic Silv er. The Company’s primar y projects lie within
Mexico’s prolific Durango-Zacatecas silver-gold belt and include the flagship La Joya silver (Cu-
Au) property and the Nora silver-gold property. Ma nagement has an aggre ssive growth strategy
and is actively reviewing potential acquisitions w ith a focus on drill-ready projects in mining-
friendly jurisdictions.
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ON BEHALF OF THE BOARD
Signed “Michael Romanik”
Michael Romanik,
President, CEO & Director
Silver Dollar Resources Inc.
Direct line: (204) 724-0613
Email: [email protected]
179 - 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9
Forward-Looking Statements:
This news release may contain “forward-looking statements.” Forward-looking statements involve known and
unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance or
achievements of the Company to be materially different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Any fo rward-looking statement speaks only as of the date of
this news release and, except as may be required by app licable securities laws, the Company disclaims any intent or
obligation to update any forward-looking statement, whether as a result of new information, future events or results
or otherwise.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of
the contents of this news release.