Sierra Madre Drilling Intersects 4.35 Meters of 309 G/T Ageq & 2.5 Meters of 296 G/T Ageq at the New Taunas Discovery at Tepic Project, Nayarit
SIERRA MADRE DRILLING INTERSECTS 4.35 METERS OF 309 G/T AGEQ & 2.5
METERS OF 296 G/T AGEQ AT THE NEW TAUNAS DISCOVERY AT TEPIC PROJECT,
NAYARIT
Vancouver, British Columbia – August 15, 2023 – Sierra Madre Gold and Silver Ltd. (TSXV: SM, OTCQX:
SMDRF) ("Sierra Madre" or the "Company") is pleased to announce the results of six additional diamond
drill holes from the Phase 2 drilling program at its Tepic Silver Gold Project in the State of Nayarit,
Mexico. The results for holes TDH0017 through TDH022 are tabulated below:
Area Drill Hole From
(m)
To
(m)
Interval
(m)
Silver
g/t
Gold
g/t
AgEq
g/t
Taunas
TDH017 6.50 9.00 2.50 209 1.15 296
and 23.80 24.40 0.60 111 2.06 266
TDH018 24.85 25.50 0.65 66 0.55 108
Veta Tomas
TDH019 154.50 159.35 4.85 84 0.24 101
and 161.40 164.00 2.60 49 0.36 76
and 167.50 177.55 10.05 158 0.46 193
includes 167.50 171.85 4.35 258 0.68 309
includes 173.85 177.55 3.70 108 0.40 138
TDH020 122.00 123.00 1.00 92 0.36 119
TDH021 54.35 55.50 1.15 8 1.39 112
TDH022 46.65 48.95 2.30 24 1.35 125
1. Length-weighted averages from uncut assays
2. Intervals reported are hole lengths with true width estimated to be 90% or greater
3. *Gold silver ratio used to calculate AgEq is 75 g/t Ag to 1 g/t Au
4. 75 g/t AgEq external cut off
Gregory K. Liller, Executive Chairman and Chief Operating Officer commented, “The drilling program at
Tepic continues to deliver strong drill intercepts. The Veta Tomas vein continues to be extended and I am
especially pleased with the Taunas holes. These are the first 2 holes on a previously unrecognized target
and are located approximately 2km north east of the historic resource area.”
There is no record of the previous operator having conducted work on the eastern side of the Project
and much of the area is covered by a thin layer of colluvium. First pass mapping and reconnaissance
sampling by the Company’s geologic team has resulted in the delineation of the Taunas structure.
Taunas has a strike length in excess of one kilometre and consists of a core quartz vein/breccia structure,
with widths of up to 15 metres, surrounded by a silicified and stockwork zone with argillic alteration.
The following map shows the locations of the holes.
The Phase 2 drill program has been designed to test extensions of the previously defined breccia/vein
structures, test newly defined targets and infill the existing drill pattern in order to facilitate the estimation
of an updated NI 43-101 compliant resource. The Tepic Project is a +2,600 -hectare project where the
previous operator completed 149 core holes totaling more than 31,000 meters.
About Sierra Madre
Sierra Madre Gold & Silver (TSX.V: SM, OTCQX: SMDRF) is a precious metals development and explora-
tion company, focused on evaluating the potential of restarting the La Guitarra Mine in the Temascal-
tepec mining district, Mexico, and the exploration and development of its Tepic and La Tigra properties
in Nayarit, Mexico. The La Guitarra Mine is a permitted, past-producing underground mine which in-
cludes a 550 t/d processing facility that operated until mid-2018.
The +2,600 ha Tepic Project hosts low-sulphidation epithermal gold and silver mineralization with an ex-
isting historic resource. La Tigra, located 148 km north of Tepic, has been mined historically; Sierra Ma-
dre´s maiden 2022 drill program at the site intercepted shallow mineralization.
Sierra Madre´s management has played key roles for managing exploration and development of more
than 22Moz gold and 600Moz silver in combined reserves and resources. Sierra Madre´s team of profes-
sionals has collectively raised over $1B for mining companies.
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 Exploration Best Practice Guide-
lines 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, Mex-
ico or ALS Chemex in Guadalajara, Mexico for 30 gram gold fire assay, Aqua Regia digestion for silver and
multi-element analyses by four 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 poli-
cies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news re-
lease.
This press release contains "forward-looking information" and "forward-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 cer-
tain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. For-
ward-looking information in this press release includes, but is not limited to, statements with respect to
the completion of the Transaction on the terms set out in the definitive agreement (or at all) and the abil-
ity of the Company to obtain requisite corporate and regulatory approvals for the Transaction, including
but not limited to the approval of the Exchange, Mexican antitrust approval and other governmental ap-
provals as currently anticipated.
In making the forward-looking statements included in this news release, the Company has applied sev-
eral material assumptions, including that the Company will be able to receive all required regulatory ap-
provals by the timelines currently anticipated (or at all); and that the Company will be able to complete
the Transaction on the terms of the definitive agreement. 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 Company is not able to complete Transaction on the terms set out in the de-
finitive agreement (or at all) and the risk that the Company is unable to obtain requisite corporate and
regulatory approvals, including but not limited to the approval of the TSX Venture Exchange, the Mexican
antitrust approval and governmental approval as currently anticipated.
Such forward-looking information represents management´s best judgment based on information cur-
rently 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.
SOURCE: Sierra Madre Gold and Silver