Sierra Madre Underground Channel Samples Return 0.7 Metres of 239.0 G/T GOLD at LA Tigra Project, Nayarit, Mexico
SIERRA MADRE UNDERGROUND CHANNEL SAMPLES RETURN 0.7 METRES OF 239.0 G/T GOLD
AT LA TIGRA PROJECT, NAYARIT, MEXICO
Vancouver, British Columbia – May 12, 2022 – Sierra Madre Gold and Silver Ltd. (TSXV: SM)
(OTCQB: SMDRF) ("Sierra Madre" or the "Company") is pleased to provide an update on its La
Tigra Gold/Silver Project (La Tigra”) located in the State of Nayarit, Mexico. La Tigra is located
approximately 148 km north of Sierra Madre’s Tepic Project.
Assays have been received for 154 channel samples taken from Level 200 of the historic El Tigre
mine. The samples ranged between of 0.011 grams per tonne gold (“g/t Au”) and 239.0 g/t Au.
Sample channel widths varied between 0.35 meters and 1.70 meters, averaging 0.92 meters.
All samples contained detectable gold. The average grade of all the samples is 3.14 g/t Au with
65 samples greater than 0.5 g/t Au and 39 samples greater than 1.0 g/t Au. Silver values range
from below the 0.5 g/t Ag detection limit to 76.0 g/t Ag.
The table below shows highlight underground channel sample assays:
Channel Sample From (m) To (m) Int (m) Au g/t Ag g/t AuEq g/t*
LTR-UG-002 LTR-914 1.25 1.95 0.70 239.00 29.8 239.4
LTR-UG-056 LTR-1058 1.00 1.55 0.55 24.40 23.1 24.7
LTR-UG-056 LTR-1057 0.00 1.00 1.00 24.40 21.3 24.7
LTR-UG-062 LTR-1071 0.00 0.70 0.70 18.15 23.4 18.5
LTR-UG-058 LTR-1062 0.00 0.90 0.90 13.15 17.0 13.4
LTR-UG-024 LTR-972 0.55 1.85 1.30 10.70 18.7 11.0
LTR-UG-004 LTR-923 1.40 2.40 1.00 9.75 43.1 10.3
LTR-UG-030 LTR-981 0.85 1.70 0.85 8.04 5.8 8.1
LTR-UG-029 LTR-978 0.00 1.35 1.35 7.43 8.5 7.5
LTR-UG-062 LTR-1072 0.70 1.80 1.10 6.86 8.9 7.0
LTR-UG-026 LTR-974 0.00 1.30 1.30 6.27 12.8 6.4
LTR-UG-028 LTR-446 0.00 1.10 1.10 6.15 9.3 6.3
LTR-UG-010 LTR-946 0.00 1.05 1.05 5.75 21.2 6.0
LTR-UG-031 LTR-982 0.00 1.20 1.20 5.23 4.9 5.3
LTR-UG-027 LTR-977 1.70 3.00 1.30 5.02 12.2 5.2
1. Channel samples from underground workings
2. Widths are sample width with true width estimated to be >90%
3. *Gold silver ratio used to calculate Gold Equivalent (“AuEq”) is 75 g/t Ag to 1 g/t Au
4. Table includes samples with greater than 5.0 g/t Au
Trenching:
The surface trenching program at La Tigra continues with LTZ19 returning 8.9 meters of 3.27 g/t
gold including 2.7 meters of 6.74 g/t gold and 2.1 meters of 4.52 g/t gold. The trench began
and ended in mineralization.
The following tabulates all surface trenches since the last trench results release from March 29,
2022 :
Area Trench
From
(m)
To
(m)
Int
(m)
Au
g/t
Ag
g/t
AuEq
g/t*
North East Fault
System
LTZ12 Geologic Trench Parallel to Structures
LTZ13 Geologic Trench Parallel to Structures
La Concha
LTZ014 14.25 23.25 9.0 0.27 1.1 0.28
LTZ015 0 11.5 11.5 0.35 5.6 0.43
LTZ16 Low Grade
El Tigre West LTZ017 0 9 9.0 0.53 0.6 0.54
El Tigre South LTZ18 Low Grade
El Tigre
LTZ019 0 8.9 8.9 3.27 6.4 3.36
Includes 1.9 4.6 2.7 6.74 3.8 6.80
and 6.8 8.9 2.1 4.52 16.1 4.74
1. Length-weighted averages from uncut assays
2. *Gold silver ratio used to calculate Gold Equivalent (“AuEq”) is 75 g/t Ag to 1 g/t Au
3. 0.15 g/t AuEq external cut off
Drilling:
Two drill rigs have been moved from the Company’s Tepic Project to La Tigra. A third rig with
greater depth capacity has been brought to site and will replace one of the smaller rigs.
Geologic and surveying activities have focused on mapping and sampling the underground
workings in the 200 level of the El Tigre mine, as well as opening and securing the 300 level for
additional channel sampling to further enhance drill target definition.
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 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 t o 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.