Silver Storm Drills 1,810 g/t Ag.Eq over 14.6 m in C460 Zone
Silver Storm Drills 1,810 g/t Ag.Eq over 14.6 m
in C460 Zone
Toronto, Ontario--(Newsfile Corp. - January 4, 2024) - Silver Storm Mining Ltd. (TSXV: SVRS) (OTCQB:
SVRSF) (FSE: SVR) ("
Silver Storm
" or the "
Company
"), is pleased to announce further drill results
from its Phase 1 diamond drilling program at the Company's 100% owned La Parrilla Silver Mine
Complex, located in Durango Mexico. Results from the four holes within this release are from the
Quebradillas mine.
Key highlights include:
Hole Q-23-020 intersected the C460 Zone returning
1,810
g/t Ag.Eq
1
over 14.62 metres ("m")
including
2,466
g/t Ag.Eq
1
over 9.57 m and 682 g/t Ag.Eq over 4.00 m.
This intercept is
located approximately 15 m below the last mine development
in this area,
with similar high-grade mineralization:
1767 EL composited historical channel samples graded
974 g/t Ag.Eq over a strike
length of 23 m and width of 2.86 m.
Hole Q-23-017 intersected the Quebradillas Zone returning 266 g/t Ag.Eq. over 6.03 m including
496 g/t Ag.Eq over 1.67 m
and
354 g/t Ag.Eq over 0.60 m
.
Hole Q-23-019 intersected the Quebradillas Zone returning
523 g/t Ag.Eq over 1.22 m
.
Greg McKenzie, President and CEO, commented:
"C460 was the largest zone mined when
Quebradillas was previously in production by First Majestic Silver. The high-grade mineralization
reported today extends the C460 Zone at depth to the south where limited drilling was previously
performed. The mineralization in this area is higher-grade, and wider, than the previously mined stopes
immediately above. We were pleasantly surprised by the much higher grades in this area and will follow
up with additional drilling in this location in 2024."
C460 Zone
The C460 Zone is a sulphide replacement vein striking 344 degrees and dipping 63 degrees to the
northeast with a known strike length of 425 m. The zone is mineralized over a vertical extent of 570 m
and its thickness varies up to 8.5 m. The replacement vein is concordant to bedding in the sediments
and mineralization is comprised of pyrite, pyrrhotite, galena, sphalerite, arsenopyrite, acanthite, and
freibergite.
Hole Q-23-020
Hole Q-23-020 was drilled to target the C460 Zone, successfully intersecting replacement mineralization,
returning
1,810 g/t Ag.Eq over 14.62 m
(56.00 to 70.62 m), including
2,466 g/t Ag.Eq over 9.57 m
(60.50 to 70.07 m) and
682 g/t Ag.Eq over 4.00 m
(56.00 to 60.00 m). - See Table 1; Figures 1, 2 & 3.
This intercept is
located approximately 15 m below the last mine development
in this area, with
similar high-grade mineralization (Table 2):
The composited weighted average grade of historical channel samples from the 1767 EL stope
returned
974 g/t Ag.Eq over a strike length of 23 m and average width of 2.86 m
.
Quebradillas Zone
The Quebradillas Zone is comprised of fault associated quartz-carbonate veins and breccias striking
east and dipping 86 degrees to the south (088/86) with an average width of 1 to 2.5 m. The structure
pinches and swells, cutting across the sediments and granodiorite stock. Mineralization in the vein
consists of pyrite, pyrrhotite, arsenopyrite, galena, sphalerite and acanthite.
Hole Q-23-017
Hole Q-23-017 successfully intersected the Quebradillas quartz-carbonate vein and breccia
mineralization returning 266 g/t Ag.Eq over 6.03 m (36.65 to 42.68 m), including
496 g/t Ag.Eq over
1.67 m
(36.65 to 38.32 m) and
354 g/t Ag.Eq over 0.60 m
(40.12 to 40.72 m)- See Table 1; Figures 3
& 4.
This intercept is
located approximately 16 m above the last mine development
in this area, with
similar high-grade mineralization (Table 3):
The composited weighted average grade of historical channel samples from the Quebradillas
West 1892 EL stope returned 234 g/t Ag.Eq over a strike length of 18 m and average width of 2.34
m.
Hole Q-23-019
Hole Q-23-019 intersected the Quebradillas breccia mineralization returning
523 g/t Ag.Eq over 1.22 m
(45.98 to 47.20 m). This intercept is
located approximately 31 m below the last level of
development
in this area, with similar high-grade mineralization:
The composited weighted average grade of historical channel samples from the Quebradillas East
1892 EL stope returned 233 g/t Ag.Eq over a strike length of 29 m and average width of 2.16 m.
Table 1 - Select Assay Intervals from Holes Q-23-017 to Q-23-020 and Historical Results
Zone
Hole
From
To
Length
(m)
Ag.Eq
(1)
g/t
Ag
g/t
Au
g/t
Pb
%
Zn
%
Cu
%
QUE
Q-23-017
36.65
42.68
6.03
266
166
0.17
1.11
2.07
0.02
including
36.65
38.32
1.67
496
334
0.07
1.73
4.00
0.04
and
40.12
40.72
0.60
354
203
0.12
1.80
3.42
0.02
QUE
Q-23-019
45.98
47.20
1.22
523
171
0.79
2.76
7.89
0.01
C460
Q-23-020
56.00
70.62
14.62
1,810
1,151
0.13
13.83
10.18
0.06
56.00
60.00
4.00
682
279
0.21
6.21
8.06
0.07
including
60.50
70.07
9.57
2,466
1,635
0.11
18.42
11.99
0.06
QUE
ILP-Q-16-11
99.50
102.00
2.50
224
178
0.07
1.02
0.47
-
QUE
ILP-Q-16-14
95.10
98.05
2.95
152
107
0.06
0.75
0.71
-
QUE
ILP-Q-17-05
39.90
40.60
0.70
323
133
0.11
1.31
1.80
-
QUE
ILP-Q-18-02
40.30
40.75
0.45
168
68
0.04
0.13
0.02
-
QUE
ILP-Q-18-72
41.45
42.00
0.55
275
127
0.20
0.15
0.15
-
Table 2 - Historical Channel Sample Results
(2)
- C460 Zone
Zone
Channel
Width
Ag.Eq
(1)
g/t
Ag
g/t
Pb
%
Zn
%
C460
V460-1767-L0
1.60
660
288
5.40
8.37
C460
V460-1767-L1
5.10
1247
665
10.67
10.85
C460
V460-1767-L2
2.80
1447
733
12.80
13.62
C460
V460-1767-L3
2.30
1699
1053
12.10
11.82
C460
V460-1767-L4
2.00
1249
659
10.68
11.13
C460
V460-1767-L5
2.00
677
253
7.79
7.87
C460
V460-1767-L6
3.30
437
158
4.70
5.63
C460
V460-1767-L7
3.70
706
282
7.06
8.61
C460
V460-1767-L8
2.90
641
274
5.58
7.98
C460
V460-1777-L09
1.50
1002
461
7.98
12.00
C460
V460-1777-L08
2.70
376
150
3.37
4.96
C460
V460-1777-L07
3.50
1104
633
9.84
7.57
C460
V460-1777-L06
3.20
995
496
7.68
10.77
C460
V460-1777-L5S
1.80
1915
1057
13.64
18.09
C460
V460-1777-L4S
1.65
1816
1152
13.62
10.96
C460
V460-1777-L3S
2.40
893
443
7.82
8.84
C460
V460-1777-L2S
1.95
569
280
6.72
3.97
C460
V460-1777-L0
4.45
509
209
5.83
5.27
C460
V460-1777-L2N
2.35
676
294
7.64
6.47
C460
V460-1792-L1
2.30
315
148
4.19
2.01
C460
V460-1792-L2
1.25
683
332
7.06
5.94
C460
V460-1792-L3
1.40
1417
914
12.59
6.07
C460
V460-1792-L4
2.75
1712
1158
13.63
6.89
C460
V460-1792-L5
2.40
986
471
12.90
6.15
C460
V460-1792-L6
4.05
1046
614
10.61
5.39
C460
V460-1792-L7
3.65
563
236
6.04
6.06
Table 3 - Historical Channel Sample Results
(2)
- Quebradillas East and West Zones
Zone
Channel
Width
Ag.Eq
(1)
g/t
Ag
g/t
Pb
%
Zn
%
QUE EAST
TABLA IZQ. P.T+13.50 Mts.
2.00
101
57
0.68
0.95
QUE EAST
TABLA DER. P.T+18 Mts.
4.20
115
63
0.86
1.05
QUE EAST
P.T+9 MTS
0.50
343
241
2.46
1.30
QUE EAST
P.T+10 MTS
2.20
336
209
2.06
2.65
QUE EAST
P.T+13 MTS
1.30
227
160
1.46
1.02
QUE EAST
L - 8+1 Mts.
2.50
287
203
1.34
1.76
QUE EAST
L - 30
3.90
227
182
0.95
0.72
QUE EAST
L- 31
0.90
120
3
2.46
1.89
QUE EAST
TABLA IZQ. L-29
1.90
341
262
1.98
0.93
QUE WEST
VQ-1892-114
1.05
330
184
2.06
3.32
QUE WEST
VQ-1892-117
0.50
182
93
0.89
2.39
QUE WEST
VQ-1892-121
0.45
116
77
0.66
0.75
QUE WEST
VQ-1892-124
8.00
113
80
0.55
0.65
QUE WEST
VQ-1892-127
2.70
213
110
1.64
2.13
QUE WEST
VQ-1892-127
1.45
414
292
2.61
1.91
QUE WEST
VQ-1892-130
3.55
194
118
1.24
1.55
QUE WEST
VQ-1892-133
1.00
307
218
2.17
1.12
(1)
All results in this release are rounded. Assays are uncut and undiluted. Widths are core-lengths, not true widths. Silver equivalent: Ag.Eq g/t
was calculated using commodity prices of US$22.50 /oz Ag, US$1,800 /oz Au, US$0.94 /lb Pb, and US$1.35 /lb Zn applying metallurgical recoveries
of 70.1% for silver and 82.8% for gold in oxides and 79.6% for silver, 80.1% for gold, 74.7% for lead and 58.8% for zinc in sulphides. Metal payable
used was 99.6% for silver and 95% for gold in doré produced from oxides, and 95% for silver, gold, and lead and 85% for zinc in concentrates
produced from sulphides. Cut-off grades considered for oxide and sulphide were, respectively 140 g/t Ag.Eq and 125 g/t Ag.Eq and are based on
2017 costs adjusted by the inflation rate and include sustaining costs.
(2)
Weighted average grades were calculated over the mineralized widths of each channel (Figures 1-5).
Sample Analysis and QA/QC Program
Silver Storm uses a quality assurance/quality control (QA/QC) program that monitors the chain of
custody of samples and includes the insertion of blanks, duplicates, and reference standards in each
batch of samples sent for analysis. The drill core is photographed, logged, and cut in half, with one half
retained in a secured location for verification purposes and one half shipped for analysis. Sample
preparation (crushing and pulverizing) is performed at ALS Geochemistry, an independent ISO
9001:2001 certified laboratory, in Zacatecas, Mexico and pulps are sent to ALS Geochemistry in
Vancouver, Canada for analysis. The entire sample is crushed to 70% passing -2 mm, and a riffle split of
250 grams is taken and pulverized to better than 85% passing 75 microns. Samples are analyzed for
gold using a standard fire assay with Atomic Absorption Spectrometry (AAS) (Au-AA23) from a 30-gram
pulp. Gold assays greater than 10 g/t are re-analyzed on a 30-gram pulp by fire assay with a gravimetric
finish (Au-GRA21). Samples are also analyzed using a 34 element inductively coupled plasma (ICP)
method with atomic emission spectroscopy (AES) on a pulp digested by four acids (ME-ICP61).
Overlimit sample values for silver (>100 g/t), lead (>1%), zinc (>1%), and copper (>1%) are re-assayed
using a four-acid digestion overlimit method with ICP-AES (ME-OG62). For silver values greater than
1,500 g/t, samples are re-assayed using a fire assay with gravimetric finish on a 30-gram pulp (Ag-
GRA21). Samples with lead values over 20% are re-assayed using volumetric titration with EDTA on a
1-gram pulp (Pb-VOL70). No QA/QC issues were noted with the results reported herein.
Review by Qualified Person and QA/QC
The scientific and technical information in this document has been reviewed and approved by Bruce
Robbins, P.Geo., a Qualified Person as defined by National Instrument 43-101.
About Silver Storm Mining Ltd. (formerly Golden Tag Resources Ltd.)
Silver Storm Mining Ltd. holds advanced-stage silver projects located in Durango, Mexico. Golden Tag
recently completed the acquisition of 100% of the La Parrilla Silver Mine Complex, a prolific operation
which is comprised of a 2,000 tpd mill as well as five underground mines and an open pit that collectively
produced 34.3 million silver-equivalent ounces between 2005 and 2019. The Company also holds a
100% interest in the San Diego Project, which is among the largest undeveloped silver assets in Mexico.
For more information regarding the Company and its projects, please visit our website at
www.silverstorm.ca
.
For additional information, please contact:
Greg McKenzie, President & CEO
Ph: +1 (416) 504-2024
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements:
Certain statements in this news release are forward-looking and involve a number of risks and
uncertainties. Such forward-looking statements are within the meaning of the phrase 'forward-looking
information' in the Canadian Securities Administrators' National Instrument 51-102 - Continuous
Disclosure Obligations. Forward-looking statements are not comprised of historical facts. Forward-
looking statements include estimates and statements that describe the Company's future plans,
objectives or goals, including words to the effect that the Company or management and Qualified
Persons (in the case of technical and scientific information) expects a stated condition or result to
occur. Forward-looking statements may be identified by such terms as "believes", "anticipates",
"expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are
based on assumptions and address future events and conditions, by their very nature they involve
inherent risks and uncertainties. Although these statements are based on information currently
available to the Company, the Company provides no assurance that actual results will meet
management's expectations. Risks, uncertainties and other factors involved with forward-looking
information could cause actual events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking information. Forward-looking
information in this news release includes, but is not limited to, the future exploration performance at La
Parrilla, the timing and extent of the drill program, the ability to increase Mineral Resources therein,
and the ability to eventually place the La Parrilla Complex back into production.
In making the forward-looking statements included in this news release, the Company and Qualified
Persons (in the case of technical and scientific information) have applied several material
assumptions, including that the Company's financial condition and development plans do not change
because of unforeseen events, that future metal prices and the demand and market outlook for metals
will remain stable or improve, management's ability to execute its business strategy and no
unexpected or adverse regulatory changes with respect to La Parrilla. 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, there being no assurance that the Company's current and future
exploration programs will grow the Mineral Resource base or upgrade Mineral Resource confidence,
the risk that the assumptions referred to above prove not to be valid or reliable, the risk that the
Company is unable to achieve its goal of placing La Parrilla back into production; market conditions
and volatility and global economic conditions including increased volatility and potentially negative
capital raising conditions resulting from the continued or escalation of the COVID-19 pandemic, risk
of delay and/or cessation in planned work or changes in the Company's financial condition and
development plans; risks associated with the interpretation of data (including in respect of third party
mineralized material) regarding the geology, grade and continuity of mineral deposits, the uncertainty
of the geology, grade and continuity of mineral deposits and the risk of unexpected variations in
Mineral Resources, grade and/or recovery rates; risks related to gold, silver and other commodity
price fluctuations; employee relations; relationships with and claims by local communities and
indigenous populations; availability and increasing costs associated with mining inputs and labour,
the speculative nature of mineral exploration and development, including the risks of obtaining
necessary licenses and permits and the presence of laws and regulations that may impose
restrictions on mining, including the Mexican mining reforms; risks relating to environmental
regulation and liability; the possibility that results will not be consistent with the Company's
expectations.
Such forward-looking information represents managements and Qualified Persons (in the case of
technical and scientific information) 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.
Figure 1: Plan View C460 Zone 1792 EL and Below
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Figure 2: Oblique View to SW of C460 Channel Samples 1792, 1777, 1767 EL Stopes
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Figure 3: Longitudinal Section of C460 Zone View Toward WSW
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