Silver Dollar Updates Fieldwork at Longlegged Lake Property in Red Lake Mining Division, Ontario
FOR IMMEDIATE RELEASE
Silver Dollar Updates Fieldwork at Longlegged Lake
Property in Red Lake Mining Division, Ontario
Neighbours active in the area include Great Bear Resources, Golden Goliath
Resources and BTU Metals
VANCOUVER, BC – December 3, 2020 – Silver Dollar Resources Inc. (CSE: SLV) (“Silver
Dollar” or the “Company”) is pleased to provide an update of the ongoing exploration on its
Longlegged Lake property (the “Property”) located in the Red La ke Mining Division of
northwestern Ontario (Figure 1).
Figure 1: Regional Claimholders include Great Bear, BTU Metals and Golden Goliath
The Property was acquired to cover a portion of the regionally defined Pakwash Lake Fault Zone
(PLFZ). To further define the PLFZ, Silver Dollar completed a heliborne high-resolution magnetic
(MAG) survey in 2019 that refined the dominan t northeast-southwest MAG tren d. The PLFZ is
interpreted to be the deep-seated crustal scale fault system (Figure 2).
Figure 2: Deep Penetrating Regional Lithoprobe Seismic Survey
To further evaluate the PLFZ, Silver Dollar completed prospecti ng and soil sampling of areas
interpreted to be prospective to host gold mineralization. A ti ll sampling program of 30 samples
was completed to assess the potential of gold in basal till dow n ice direction of the PLFZ. These
samples were sent to Overburden Drilling Management in Nepean, Ontario for determination of
the presence of gold grains. Gold grains within the samples will be classified as to their shape and
size to help determine proximity to the potential source. The r esults of the sampling have been
recently received and are being integrated into the exploration model.
The next phase of exploration is comprised of two areas of Indu ced Polarization (IP) surveying
which is ongoing with expectati ons of completion in the next tw o w e e k s . T h e t w o g r i d s w e r e
selected using the interpretation of the airborne magnetics. Th e IP survey is intended to define
sulfide mineralization within or adjacent to the PLFZ. In other locations within the Red Lake area,
sulfide mineralization is associated with gold values. Figure 3 below illustrates the locations of the
IP surveys.
Figure 3: IP Survey Areas
“With drill permits in place and a healthy treasury, we will mo ve quickly to follow up on any
encouraging coincident targets,” said Mike Romanik, President of Silver Dollar.
Silver Dollar entered into an option agreement in late 2018 to earn a 100% interest in the
Longlegged Lake Property subject to 1.5% net smelter returns royalty. The 2,597-hectare Property
is located approximately 30 km s outh of the town of Red Lake wi th excellent local infrastructure
and year-round access.
Garry Clark, P.Geo., of Clark Exploration Consulting, is the "Q ualified Person" as defined in
National Instrument 43-101, who has reviewed and approved the t echnical content in this press
release.
About Silver Dollar Resources Inc.
Silver Dollar Resources Inc. is a mineral exploration company f ocused on creating shareholder
value by finding and developing economic precious and base metal deposits. Having completed its
initial public offering in May 2020, the Company trades on the Canadian Securities Exchange under
the symbol "SLV" and on the OTCQB under “SLVDF”. Silver Dollar’s projects are located in two
of the prolific mining jurisdic tions in the world and include t he advanced exploration and
development stage La Joya Silver Project in Durango, Mexico, an d the discovery-stage Pakwash
Lake and the Longlegged Lake properties in the Red Lake Mining District of Ontario, Canada. The
Company has an aggressive growth strategy and is actively revie wing projects in mining-friendly
jurisdictions internationally for potential acquisition.
For additional information: contact investor relations, you can download our latest presentation
by clicking here and you can follow us on Twitter by clicking here.
Joseph Cullen,
Investor Relations Manager
Direct line: (778) 919-8615
Email: [email protected]
ON BEHALF OF THE BOARD
Signed “Michael Romanik”
Michael Romanik,
President, CEO & Director
Silver Dollar Resources Inc.
Suite 108 - 800 Kelly Road, Suite 416
Victoria, BC, V9B 6J9
Forward-Looking Statements:
This news release may contain “forward-looking statements” that 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 forward-looking statement speaks only as of the date of this news release and, except as may be
required by applicable 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.