Sierra Madre Announces the Start of Phase 2 Drillng at the Tepic Project, Nayarit, Mexico
SIERRA MADRE ANNOUNCES THE START OF PHASE 2 DRILLNG AT THE TEPIC PROJECT,
NAYARIT, MEXICO
Vancouver, British Columbia – February 8, 2022 – Sierra Madre Gold and Silver Ltd. (TSXV: SM,
OTCQB: SMDRF) ("Sierra Madre" or the "Company") is pleased to announce commencement of
its Phase II drill program at its Tepic Silver Gold project, located in Nayarit, Mexico. With the
success of the ongoing field work activities; including trenching, Sierra Madre has also increased
its permitted drill pads from 47 to 182 drill pads with SEMERNAT, the Mexican federal
environmental agency. This will allow the Company to potentially drill in excess of 300 holes,
utilizing the same drill pads with offset drilling. The Company has also secured exploration
agreements with all surface owners in the areas to be drilled.
The drilling contractor, Tecindyser S.A. de C.V., has mobilized one core rig to the project site.
The plan is to move the drilling equipment back and forth between the Tepic and La Tigra
projects so as to ensure assay results are available before off set or step out drilling is begun.
Additional rigs will be added as the assays data flow increases to ensure maximum efficiency.
Tepic drilling will initially focus primarily on areas in and adjacent to historic drilling. New
targets are to be methodically tested and as new assay data is acquired more drilling will be
conducted on the new discovery targets developed by the company’s 2021 work activities.
Gregory K. Liller, Executive Chairman and COO of Sierra Madre states, “Our Phase II drilling
program at Tepic has been designed using the data we have acquired during our extensive
surface mapping, sampling and trenching programs; together with the valuable insights we
gained from our Phase I drilling program. I am very pleased with the progress we have achieved
since listing of the company in April of 2021.”
Alexander Langer, President & CEO of Sierra Madre stated, “We are delighted to have been able
to increase budgets to further delineate potential resources in anticipation of an updated NI 43-
101 resource report, at completion of the Phase II drilling program.”
About Sierra Madre
Sierra Madre Gold and Silver Ltd. is a mineral exploration company, currently focused on the
acquisition, exploration and development of the Tepic and La Tigra Properties in Nayarit, Mexico.
The Company has an experienced management team with a proven trac k record of wealth
creation in Mexico through project discovery, advancement, and monetization. Sierra Madre’s
key objective is to advance exploration on the Tepic and La Tigra Properties to determine whether
they contain commercially exploitable deposits of precious or base metals.
On behalf of the board of directors of Sierra Madre Gold and Silver Ltd.,
“Alexander Langer”
Alexander Langer
President, Chief Executive Officer and Director
Contact:
Sierra Madre Gold and Silver Best Practice
Sierra Madre is committed to best practice standards for all exploration and sampling activities.
The Company’s exploration programs have been conducted following CIM Exp loration Best
Practice Guidelines which are incorporated by reference in NI 43 -101. Analytical quality
assurance and quality control procedures include the systematic insertion of blanks, standards
and duplicates into the sample strings. Samples are placed in sealed bags and shipped directly to
Bureau Veritas Lab located in Durango, Mexico for 30 gram gold fire assay and multi -element
analyses by acid digestion.
Qualified Person
Mr. Gregory Smith, P. Geo, Director of Sierra Madre, is a Qualified Person as defined by NI 43 -
101, and has reviewed and approved the technical data and information contained in this news
release. Mr. Smith has verified the technical and scientific data disclosed herein.
Cautionary Note
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this news release.
This press release contains "forward -looking information" and "for ward-looking statements"
within the meaning of applicable securities legislation. The forward-looking statements herein are
made as of the date of this press release only, and the Company does not assume any obligation
to update or revise them to reflect new information, estimates or opinions, future events or results
or otherwise, except as required by applicable law. Often, but not always, forward -looking
statements can be identified by the use of words such as "plans", "expects", "is expected",
"budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets",
"aims", "anticipates" or "believes" or variations (including negative variations) of such words and
phrases or may be identified by statements to the effect that certain actions "may", "could",
"should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information
in this press release includes, but is not limited to, statements with respect plans for the La Tigra
property, including the prospect of preparing a technical report containing a mineral resource
estimate. Forward -looking statements and information are subject to various known and
unknown risks and uncertainties, many of which are beyond the ability of the Company to control
or predict, that may cause the Company’s actual results, performance or achievements to be
materially different from those expressed or implied thereby, and are developed based on
assumptions about such risks, uncertainties and other factors set out herein, including , but not
limited to, the risk that the La Tigra Property may not yield the results expected and the general
risk factors related to exploration and development as are set out under the heading "Risk
Factors" in the Company's final long form non-offering prospectus dated March 31, 2021 available
for review on the Company's profile at www.sedar.com. Such forward -looking information
represents management's best judgment based on information currently available. No forward -
looking statement can be guaranteed and actual future results may vary materially. Accordingly,
readers are advised not to place undue reliance on forward-looking statements or information.