Geochemical Survey on Silver Grail’s Pacifico Property Generates High Cobalt Values; Plans for 2021 Program on Midas-Konkin Silver Property, Golden Triangle
SILVER GRAIL RESOURCES LTD.
2130 Crescent Road
Victoria, BC V8S 2H3
Phone: (778) 430-5680
Website: www.silvergrail.com
NEWS RELEASE
Geochemical Survey on Silver Grail’s Pacifico Property Generates High Cobalt Values;
Plans for 2021 Program on Midas-Konkin Silver Property, Golden Triangle
March 25, 2021--Vancouver, BC: Silver Grail Resources Ltd. (“Silver Grail”) ( (“SVG”-
TSX-V) is pleased to give the following update on its exploration activities:
Pacifico Property
A geochemical sampling program consisting of extended stream sediment sampling and
reconnaissance soil lines was carried out in 2020. The silt sampling surpassed the 2019 high
of 1,152 ppm with an extremely anomalous 2,512 ppm cobalt. Altogeth er 8 separate s tream
sediment sample sites on the Pacifico property have now recorded values in excess of 1,000
ppm cobalt. To put th ese values in context, one can refer to the more than 64,000 stream
sediment/moss ma t samples which have been taken over a 40 year period throughout the
province of British Columbia by the BC Government Regional Geochemistry program:
highest sample in th at entire database was 860 ppm cobalt but that one came from a warm
spring and was not from a conventional stream. The third highest sample in the database, 584
ppm cobalt, came from what was subsequently staked as Silver Grail’s 100%-owned Pacifico
property. The 2020 Pacifico cobalt stream sediment anomalies were also accompanied by
anomalous levels of both silver and manganese. [2019 and 2020 geochemical results are shown
in the accompanying map entitled “Pacifico Colbalt Property – 2020 Airborne Magnetic
Survey & Geochemical Sampling”, the URL for which is at the end of this release.]
One of two recon soil sample lines (almost a kilometer in le ngth) produced two consecutive
anomalous results of 255 and 1,145 ppm cobalt which are the first indications on the property
of possible proximity to source rock. These soil anomalies were situated close to altered bluffs
and will be followed up immediately in 2021.
A 439.5 km long, airborne magnetometer survey was also completed in 2020 over the Pacifico
property (see map). The geophysicist who interpreted the data has outlined four additional
areas on the property with similar characteristics to the high cobalt an omalous sites. Rather
than a single source for the various anomalies, it now appears that a number of discrete sources
are giving rise to the anomalies, possibly related to the many fault structures on the property.
D. Cremonese, P. Eng., President of Silver Grail , commented as follows: “Systematic
exploration of the Pacifico property has outlined several cobalt anomalous sites, many
accompanied by anomalous silver-manganese values. We have yet to explain these anomalies
with mineralization in place, although we hope that will occur in the present year with a
considerable expansion of work on the property.”
Further work is planned in the upco ming months. This will include exp anded geochemical
surveys, prospecting and geological mapping. Any targets defined by this work will be
followed up by drilling. The cobalt price has almost doubled in the past year and now stands
at $23.90 US/lb.
Golden Triangle properties
A drill permit was received on August 25, 2020 on the Midas-Konkin Silver properties (Silver
Grail owns 50% of the Konkin Silver and 25% of the Midas in partnership with Teuton
Resources). Weather conditions after the permit was granted were not such as to allow a drill
program to proceed safely in the limited time window a vailable before the end of the field
season. The Company now plans to proceed with this program in 2021.
Two types of targets present themselves. The first are deep ZTEM anomalies o n both the
Midas and the Konkin Silver. The ZTEM anomaly in the northern portion of the Midas claim
is situated close to and below a zone which is geologically quite similar to the Argo zone drilled
in 2020 by Decade on the Del Norte property adjoining directly to the north. This Midas zone
was drilled by Sabina Silver in 2006 and 2007 (under option from Teuton Resources) and drill
core taken at the time bears a strong resemblance to the Argo core.
The second target is a series of silver structures discovered in the 1990s on the Konkin Silver
but never drilled. These include the Niknok, Onkkin and the Leszek. The Niknok was trenched
and returned values of 18.98 oz/ton silver across 9.0 m and the Leszek was chip sampled and
returned 0.202 oz/ton gold and 16.4 oz/ton silver over 4.0 m.
About Silver Grail
Silver Grail owns interests in over 12 mineral properties in the southern portion of the Golden
Triangle, all located within 35 km of the town of Stewart, BC. Many of these properties
contain veins or shear zones hosting significant amounts of silver mineralization. In addition,
the Company also owns interests in three other properties in British Columbia containing
cobalt mineralization. At this time, the most prospective of these is the Pacifico on northern
Vancouver Island which has some of the most anomalous cobalt stream geochemistry in the
province.
URL for Pacifico Map: http://silvergrail.com/Pacifico-Geophysics
Respectfully:
“Dino Cremonese, P.Eng.”
Dino Cremonese, P.Eng.
President
For more information contact Investor Relations at 778-430-5680 or [email protected]. If you
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its operations and its financial performance and condition, as well as management’s objectives, strategies, beliefs
and intentions. Forward -looking statements are frequently identified by such words as “may”, “will”, “plan”,
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looking statements are based on the current opinions and expect ations of management. All forward -looking
information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the
speculative nature of mineral exploration and development, fluctuating commodity prices, competiti ve risks and
the availability of financing, as described in more detail in our recent securities filings available at
www.sedar.com. Actual events or results may differ materially from those projected in the forward looking -
statements and we caution agains t placing undue reliance thereon. Silver Grail Resources Ltd. does have an
ongoing obligation to disclose material information, as it becomes available.
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