Silver Viper Continues to Expand El Rubi Zone, Provides Operations Update Best Results Include 0.5m Core Length Grading 1584g/t Silver and 5.56g/t Gold From Hole LV20‐219 Drilling at the El Rubi Discovery Zone continues to advance northward in systematic step‐outs.
March 30th, 2020 T S X . V : V I P R , O T C : V I P R F
NEWS RELEASE
Silver Viper Continues to Expand El Rubi Zone, Provides Operations Update
Best Results Include 0.5m Core Length Grading 1584g/t Silver and 5.56g/t Gold From Hole LV20‐219
Drilling at the El Rubi Discovery Zone continues to advance northward in systematic step‐outs.
El Rubi Strike Length increased by 100 metres to a total of 400 metres.
Four holes now drilled into satellite target Macho Libre with a second drill; assays pending.
Helicopter‐borne magnetic survey now complete; final results pending.
Vancouver, BC. Silver Viper Minerals Corp. (the “Company” or “Silver Viper”) (TSX‐V: VIPR) is pleased
to provide results from an additional five drill holes at La Vi rginia. A highlight interval of 0.5m grading
1584g/t silver and 5.56g/t gold wa s returned from 185m down‐hol e in LV20‐219. In addition to drilling,
Silver Viper has recently completed a 4,800‐hectare, 718 line‐km helicopter‐borne magnetic‐radiometric
geophysical survey centered on the El Rubi Zone. Notably, a sec ond diamond drill has been testing the
satellite Macho Libre target.
Phase II drilling has advanced st eadily since November 2019 and now totals 24 holes for a cumulative
6,955 metres. At this point, the Company has decided to pause drilling until a time where it feels it is safe
and appropriate to resume amid the COVID‐19 global pandemic. Drilling activities have ceased, core
splitting and sampling of final holes was completed late last week. Drill equipment is being stored on site,
awaiting restart order in the coming months. At this time, the Company wishes to recognize the pro‐active
support and understanding being provided by drilling contractor , Globexplore Drilling Corp. during this
pause in work.
During late February, the Company increased exploration capacity with the addition of a second diamond
drill. Systematic step‐out drilling continued as planned at th e El Rubi discovery zone and the addition of
a second drill facilitated contemporaneous exploration of additional prospective zones. Three target
zones were identified initially, and the company has now comple ted four holes into the first, the Macho
Libre target area.
Recent work at El Rubi has focused on a north‐northwest trending mineralized zone composed of a
steeply‐dipping, gold‐silver bearing quartz stockwork/breccia zone, underlain by a series of additional
mineralized structures, currently interpreted as being parallel to the main zone. The second drill has
provided an initial test of the first of three targets, considered as “High Priority” by Silver Viper.
The diamond drilling campaign co mmenced in November 2019 and wa s planned to total 5,000m of core
collection in 20 holes. As of the date of this release, the pro gram comprises 24 drillholes for a total of
6955m, 20 holes for 6,103m were drilled at El Rubi, and a furth er 4 holes for 852m were completed on
the exploration target Macho Libre. Results from fifteen holes have now been released (see News
Releases ‐ dated Jan 13 th, Feb 12 th and Feb 26th, 2020 for details). The Compa ny intends to announce
results for the remaining holes as soon as the data is received and validated.
Silver Viper’s President and CEO Steve Cope states, “The results to date have been very encouraging. The
El Rubi zone continues to grow both along strike and at depth a nd we are excited to see what the assays
look like from Macho Libre. We have temporarily halted all fiel d exploration as we are concerned for the
health and safety of our employees, contractors and their famil ies. We will take advantage of this pause
in activity, in order to assess the recent results and consolidate our interpretation of the work to date.”
A tabulation of significant intercepts for drill holes LV20‐219 through LV20‐223 is provided below. A drill
plan showing the relative locations of the collars is accessible on the Silver Viper website.
HOLE ID FROM TO INTERVAL
(m)
Est. True
Width1
(m)
Ag
(ppm)
Au
(ppm)
Ag
Equiv2
Au
Equiv2
LV20‐219 152.0 154.5 2.50 1.78 11 0.16 23 0.32
AND 163.5 165.0 1.50 1.07 45 0.47 78 1.12
AND 166.5 168.0 1.50 1.07 64 0.70 113 1.61
AND 176.0 178.0 2.00 1.42 156 1.79 281 4.02
AND 182.0 186.0 4.00 2.84 249 1.55 357 5.10
includes 185.0 185.5 0.50 0.36 1584 5.56 1973 28.2
LV20‐220 67.0 72.0 5.00 3.55 35 0.37 61 0.87
AND 171.5 195.5 24.00 17.04 28 0.69 76 1.09
includes 176.0 177.5 1.50 1.07 63 1.16 145 2.06
AND 194.0 195.5 1.50 1.07 52 1.27 141 2.02
LV20‐221 170.0 173.0 3.00 2.13 18 0.23 34 0.48
LV20‐222 95.5 96.5 1.00 0.71 36 0.46 68 0.98
AND 115.5 118.0 2.50 1.78 28 0.31 50 0.71
AND 184.0 185.5 1.50 1.07 20 0.65 65 0.93
LV20‐223 161.5 163.0 1.50 1.07 124 3.32 356 5.09
AND 185.5 191.5 6.00 4.26 38 0.64 83 1.18
AND 208.0 216.5 8.50 6.04 74 0.99 143 2.05
includes 214.0 216.5 2.50 1.78 187 2.48 361 5.16
AND 226.0 226.5 0.50 0.36 288 3.65 543 7.76
1 True widths are difficult to estimate at this early stage of e xploration. The estimated true widths presented are based on cu rrent geological
interpretation of the mineralized zones, estimated true widths reported herein represent approximately 71% of the downhole interval. Presently
the mineralized structures are interpreted as being sub‐vertical. This interpretation may be revised as additional data are generated.
2 Gold and Silver mineralization tends to report in the same int ervals at El Rubi. Equivalent values are based on contained me tal concentrations
reported as direct exploration results and do not assume any re covery characteristics or other parameters. Equivalent values were calculated
using an Au:Ag ratio of 70:1, for example, Gold Equivalent grade = Au grade + (Ag grade / 70), Silver grade = Ag grade + (Au grade x 70)..
Drill holes LV20‐219 to LV20‐223 reported above, are situated in the northern portion of the El Rubi Zone.
LV20‐219 (Azimuth 240, dip ‐55 0) was drilled 50m beneath and behind previously announced hole LV20‐
216. Holes LV20‐220 and LV20‐221 (Azimuth 240, dips‐50 0), were drilled on a new section 50m to the
north, with collars spaced 50m apart. Drill hole LV20‐222 (Azimuth 2400, dip ‐500) represents an additional
50m step‐out, on a new section to the north. Drill hole LV20‐223 (Azimuth 090, Dip ‐450) was designed as
a scissor hole, drilled toward and cutting between previously r eported holes, in order to gain insight into
the orientation and distribution of mineralized structures, wit hin the greater mineralized envelope. The
holes reported to date, reflect intercepts on a mineralized tre nd that is now 400 metres in strike length,
with the deepest significant intercept being 300m below surface.
About the Project
La Virginia is located 220km east‐northeast of Hermosillo, Sonora. It is a large exploration area, primarily
prospective for fault‐controlled, low‐sulphidation epithermal precious metal mineralization. The Property
and historical exploration database were acquired by way of opt ion agreements made with two distinct
parties. Gold and silver mineralization at La Virginia occurs w ithin breccias, veins and stockworks, hosted
primarily by andesitic volcanics, often in close spatial associ ation to, or cross‐cutting pre‐mineral dacite
dykes and controlled by fractures and faults that define the re gional structural trend. Originally 37,700
hectares in size, Silver Viper’s reconnaissance program has identified key targets and trends which are of
primary interest. The Company has filed reductions of the large concessions to better focus efforts on the
high priority trends.
At La Virginia, Silver Viper’s Phase I drilling comprised work over five target areas totaling 4,753m in 20
drill holes. Phase II drilling is currently paused at a meterage of 6,955m in 24 holes. Hermosillo‐based drill
contractor Globexplore Drilling Corp has provided the drilling services. Drilling by the Company to date
builds upon a sizeable database including 52,635m of drill core from 188 diamond drill holes, generated
by the efforts of previous operators between 2010 and 2013. Silver Viper is expanding upon this work by
continuing exploration northward into prospective untested ground. The recently completed airborne
was flown by Geotech Ltd.
QA/QC
Analytical results of drilling intercepts reported by Silver Viper represent samples of halved diamond drill
core submitted by Silver Viper staff directly to Bureau Veritas, Hermosillo, Sonora, Mexico. Samples were
crushed, split and pulverized as per Bureau Veritas method PRP7 0‐250, then analysed for gold by lead
collection fire assay fusion on a 30g split with AAS finish, and for a multi‐element suite including silver by
multi‐acid digestion with ICP‐ES/MS finish. Samples triggering precious metal over‐limit thresholds of
10g/t Au or 200g/t Ag were retested by lead collection fire ass ay fusion with a gravimetric finish. Silver
Viper monitors QA/QC using commercially sourced standards and locally sourced blank materials inserted
within the sample sequence at regular intervals.
Dale Brittliffe, P.Geo., Vice President of Exploration is the ‘ Qualified Person’ under National Instrument
43‐101 and has approved the scientific and technical information contained in this news release. Ongoing
verification of scientific and technical information is achieve d by direct involvement in the exploration
work, requiring regular site visits by the Qualified Person.
About the Company
Silver Viper Minerals Corp., is a Canadian‐based junior mineral exploration company focused on precious
metals exploration in the northwestern Mexican state of Sonora. The Company currently operates the La
Virginia Gold‐Silver Project. Silver Viper has 100% ownership of the La Virginia concessions acquired from
the most recent operator, Pan American Silver Corp. and has an option to acquire a 100% interest in the
Rubi‐Esperanza group of claims internal to those concessions. Silver Viper is under management provided
by Belcarra Group Management Ltd., which is comprised of highly qualified mining professionals.
On behalf of the board of directors,
Steve Cope
President and CEO
For Further Information please contact, Silver Viper Minerals Corp. at (604) 687‐8566, email
[email protected] or visit our website at www.silverviperminerals.com
Forward Looking Information
Information set forth in this press release contains forward‐looking statements. These statements reflect
management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future
performance. The Company cautions that all forward‐looking state m e n t s a r e i n h e r e n t l y u n c e r t a i n a n d
that actual performance may be affected by a number of material factors, many of which are beyond the
Company’s control. Such factors include, among other things: ri sks and uncertainties relating to
exploration and development, the ability of the Company to obtain additional financing, the need to
comply with environmental and governmental regulations, fluctuations in the prices of commodities,
operating hazards and risks, competition and other risks and un certainties, including those described in
the Company’s financial statements available on www.sedar.com. Accordingly, actual and future events,
conditions and results may differ materially from the estimates, beliefs, intentions and expectations
expressed or implied in the forward‐looking information. Except as required under applicable securities
legislation, the Company undertakes no obligation to publicly u pdate or revise forward‐looking
information.
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