Sierra Madre Intercepts 2.55 metres Grading 1,106 AgEq & 12.1 metres Grading 194 g/t AgEq at the Tepic Project, Nayarit, Mexico
Sierra Madre Intercepts 2.55 metres Grading 1,106 AgEq & 12.1
metres Grading 194 g/t AgEq at the Tepic Project, Nayarit, Mexico
VANCOUVER, BC / ACCESSWIRE / April 12, 2022 / Sierra Madre Gold and Silver Ltd. (TSXV:SM)
(OTCQB:SMDRF) ("Sierra Madre" or the "Company") is pleased to announce the results from
the first seven drill holes from the Phase 2 drilling program at its Tepic Silver/Gold Project in the
State of Nayarit, Mexico.
Four of the holes are up-dip extensions from the previously defined historic resource area while
three are strike extensions. All seven holes intersected a minimum of three metres of 100 g/t
AgEq (silver equivalent grams per tonne) and will significantly add to the potential size of the
upcoming NI 43:101 resource report. Hole TDH006 also intersected mineralization from a
known vein that was drilled past a perceived fault that was incorrectly identified by a previous
operator. This continuous mineralization increases the strike-length potential by multiple
kilometres for the Dos Hornos 2 Vein. Dos Hornos 2 was a substantial vein system in the historic
resource area.
Gregory K. Liller, Executive Chairman and Chief Operating Officer commented, “We are
delighted with the results from the first seven diamond drill holes from our Phase 2 exploration
program at our Tepic Silver/Gold Project. Having all drill holes intersect relatively shallow
mineralization is a real plus for the project. This bodes extremely well for the upcoming NI
43:101 resource report. Holes 8-15 have now been completed and results will be released as
assay results are received.”
The results of the first seven holes are tabulated below:
Area Hole From To Int (m) Ag g/t Au g/t AgEq
Dos Hornos 1
TDH001 15.05 22.10 7.05 124.7 0.90 192
TDH002 11.25 14.45 3.2 193.8 1.36 296
and 31.85 43.95 12.1 145.8 0.64 194
Includes 31.85 33.35 1.5 489.0 0.77 546
TDH003 1.35 3.60 2.25 48.1 0.90 115
and 7.05 9.00 1.95 47.3 0.63 95
and 24.00 25.50 1.5 6.7 1.89 148
TDH004 30.15 31.35 1.2 100.0 0.14 111
and 34.00 40.50 6.5 128.4 1.05 207
Includes 34.65 39.25 4.6 156.2 1.20 246
Dos Hornos 2 TDH005 13.50 18.30 4.8 106.0 1.48 217
Includes 14.50 15.90 1.4 141.0 3.54 407
TDH006 6.00 9.25 3.25 101.3 0.21 117
TDH007 57.55 60.10 2.55 878.4 3.04 1106
and 64.95 66.05 1.1 130 0.73 185
and 69.00 70.05 1.05 10.7 2.66 210
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/tAgEq cut Off
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 NI43-101 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 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 track 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
Exploration 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 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 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 "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 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.
SOURCE: Sierra Madre Gold and Silver