Silver Viper Continues to Intercept High-Grade Gold and Silver at El Rubi High Grade results include 22.6g/t Gold and 1,431g/t Silver over 3.0m All Holes encountered zones of significant mineralization. Intercepts from LV20-217 and 218 indicate increased grade and thickness beneath previously
February 26th, 2020 TSX.V: VIPR, OTC:VIPRF
NEWS RELEASE
Silver Viper Continues to Intercept High-Grade Gold and Silver at El Rubi
High Grade results include 22.6g/t Gold and 1,431g/t Silver over 3.0m
All Holes encountered zones of significant mineralization.
Intercepts from LV20-217 and 218 indicate increased grade and thickness beneath previously
reported holes.
El Rubi strike-length extended an additional 50m and remains open along strike and to depth.
Vancouver, BC. Silver Viper Minerals Corp. (the “Company” or “Silver Viper”) (TSX-V: VIPR) is pleased
to announce the latest batch of results from ongoing drilling at the La Virginia Gold-Silver Exploration
Project, Sonora State, Mexico. The current campaign began in late November 2019 and expands upon the
Company’s 2018 initial test of the El Rubi target, a new gold-silver zone on the Property. The El Rubi
mineralized structure has now been intercepted on seven sections for a total 300m of strike extent.
The mineralized structure is open to the north, south and to depth. In addition, results to date indicate
the likely presence of adjacent parallel mineralized structures. The current campaign was designed to
total 5,000m of diamond drilling in approximately 20 holes. Currently the Company has completed 15
holes for a total of 4,200m, with results from 10 holes now released. The Company intends to expand the
program should positive results continue to be realized.
Mineralization at El Rubi is similar in character to other mineralized centres on the Property, such as La
Virginia, Con Virginia and Las Huatas. Gold and silver mineralization is hosted in quartz veins, stockworks
and breccias controlled along a north-northwest structural trend. The Phase I drilling at El Rubi comprised
5 drill holes on three 50m spaced sections, for a total strike-length of 100m. To date Phase II comprises
10 reported holes having tested both an additional 250m along strike as well as increased depth tests of
previous intercepts.
Drilling is ongoing and will continue to provide a systematic testing along the structure on 50m sections.
Results from Phase II should provide sufficient data points to allow the estimation of a maiden resource,
encompassing all of the mineralized zones at La Virginia. Such an estimation would employ a database of
over 223 drill holes compiled from historical and newly completed work. In addition to work at El Rubi,
the program continues to advance prospective targets elsewhere on the Property.
Silver Viper’s President and CEO Steve Cope states, “The intercepts from El Rubi continue to show a highly
encouraging trend of stronger mineralized widths and grades as we progress northward and to depth. We
are excited about the commencement of a second drill on the property which will be positioned to evaluate
additional prospect areas along the trend and adjacent to El Rubi.”
Significant intercepts returned from LV19-216 to LV19-218 are tabulated below.
HOLE From
(m) To (m) Interval
(m)
Estimated
True
Width1
Au g/t Ag g/t
Au
equiv2
g/t
Ag
equiv2
g/t
LV20-216 85.0 88.0 3.0 2.29 1.02 74 2.07 145
AND 101.5 102.0 0.5 0.38 4.30 401 10.03 702
AND 157.5 160.5 3.0 2.29 1.44 99 2.85 200
LV20-217 260.5 261.5 1.0 0.57 1.45 113 3.06 214
AND 265.5 273.5 8.0 4.56 4.45 401 10.18 713
incl 270.5 272.5 2.0 1.14 15.55 1436 36.06 2524
AND 276.5 289.5 13.0 7.41 1.79 91 3.10 217
incl 277.5 278.5 1.0 0.57 7.49 586 15.86 1110
AND 279.5 280.5 1.0 0.57 7.36 91 8.66 606
AND 293.5 304.5 11.0 6.27 2.05 46 2.70 189
incl 301.5 303.5 2.0 1.14 8.44 201 11.30 791
AND 312.5 313.5 1.0 0.57 0.75 23 1.07 75
AND 316.5 317.5 1.0 0.57 3.96 38 4.50 315
AND 327.5 328.5 1.0 0.57 0.96 10 1.11 77
LV20-218 184.0 187.0 3.0 1.89 5.82 530 13.39 937
incl 185.0 186.0 1.0 0.63 14.40 1253 32.30 2261
AND 192.0 200.0 8.0 5.04 9.15 569 17.28 1210
incl 194.0 197.0 3.0 1.89 22.63 1431 43.08 3015
AND 223.0 228.0 5.0 3.15 1.22 71 2.24 157
AND 236.0 253.0 17.0 10.71 0.48 25 0.83 58
incl 238.0 239.0 1.0 0.63 1.30 78 2.42 169
AND 252.0 253.0 1.0 0.63 1.86 99 3.28 229
AND 275.5 277.0 1.5 0.95 2.14 149 4.27 299
1 True widths are difficult to estimate at this early stage of exploration. The estimated true widths presented are based on current geological
interpretation of the mineralized zones. Presently the mineralized structures are interpreted as being sub-vertical. This interpretation may be
revised as additional data are generated.
2 Gold and Silver Equivalent values are based on contained metal values reported as direct exploration results and do not assume any recovery
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 hole LV19-216 (dip -50 0, azimuth 240) representing a 50m step-out to the north, intersected the
mineralized structure(s) at a relatively shallow depth. Steeper holes are programmed to test the
mineralization at greater depths. Holes LV20-217 (dip -650, azimuth 240), and 218 (dip -550, azimuth 240)
represent deeper intercepts on previously drilled sections. LV20-217 intercepted mineralization 50m
below the intercepts in hole LV20-211, and LV20-218 intercepted mineralization approximately 80m
below the intercept in LV20-215.
In both cases, results from LV20-217 and LV20-218 indicate an increase in width and grade compared to
the previously reported shallower intercepts from the same sections. Subsequent drillholes will continue
to push northward, testing for extension along the El Rubi trend. In addition, a series of confirmation holes
at differing azimuths and dips are planned in order to better interpret the nature of the mineralization.
An updated drill plan for the El Rubi area is available at the following link.
https://silverviperminerals.com/site/assets/files/1197/rubidrillling_feb2020.pdf.
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 option agreements made with two distinct
parties. Gold and silver mineralization at La Virginia occurs within breccias, veins and stockworks hosted
primarily by andesitic volcanics, often in close spatial association to, or cross-cutting pre-mineral dacite
dykes and controlled by fractures and faults that define the regional 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.
Silver Viper’s Phase I drilling comprised work over five target areas totaling 4,753m in 20 drill holes. Phase
II is underway using the services of Hermosillo-based drill contractor Globexplore Drilling Corp and the
Company intends to drill at least 5,000m in the El Rubi area. A second drill has been contracted to test
surrounding targets and is set to commence work by the end of February. 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.
QA/QC
Analytical results herein 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 PRP70-250, 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 assay 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 achieved 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
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 statements are inherently uncertain and
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: risks 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 uncertainties, 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 update or revise forward-looking
information.
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 RELEASE.