High-grade gold and silver confirmed at the main Candy Vein structure and follow up drill target development is underway
Vancouver, British Columbia--(Newsfile Corp. - April 16, 2024) - Silver Dollar Resources Inc. (CSE: SLV) (OTCQX: SLVDF) (FSE: 4YW) ("Silver Dollar" or the "Company") is pleased to report surface sample assay results from its 100%-owned Nora property (the "Property") in the state of Durango, Mexico.
As previously reported (See news release of March 12, 2024), fieldwork began in February as an initial step in the Company's re-evaluation of the Property. The focus of the work has been geological mapping and sampling of priority anomalies (Figure 1). A total of 89 rock chip and channel samples and 33 soil samples have been collected to date, including 41 samples from the primary Candy vein target.
Figure 1: Nora property plan view with surface sample locations.
Analytical results for all samples have been received and highlights include:
Twenty-one samples grading over (>) 100 grams per tonne (g/t) silver (Ag), ten samples >200 g/t Ag, four samples >500 g/t Ag and two samples >1,000 g/t or one kilogram per tonne Ag.
Sample R-053 (Photo 1) returned 29.61 g/t gold (Au) over 0.35 metres (m), confirming the presence of high-grade gold in the Candy vein structure.
Samples RM-1009 (Photo 2) returned 2,215 g/t Ag over 0.8 m and RM-1013 returned 1,212 g/t Ag over 1 m, confirming the presence of high-grade silver in the Candy vein structure.
Five samples returned grades >1% copper (Cu) with two >3% Cu.
Elevated levels of zinc (7 samples >1% Zn) and lead (20 samples >1% Pb) are also encouraging as they seem to be the best pathfinders for geochemistry.
Refer to the table below for additional highlights of the sample results. Note that grams per tonne is equivalent to parts per million (ppm), and 10,000 ppm is equivalent to one percent (1%).
Sample #
Rock Type
Thickness m
Au ppm
Ag ppm
Cu ppm
Pb ppm
Zn ppm
AgEQ ppm
R-053
Vein
0.35
29.61
103
31,040
86,820
5,850
3,240
RM-1009
Rhyolite
0.8
2.26
2,215
33,420
18,340
28,120
3,045
RM-1013
Vein
1
2.05
1,212
17,710
42,390
13,540
1,841
R-071
Rhyolite
0.5
3.80
924
11,980
75,610
4,540
1,703
R-066
Vein
0.63
3.98
972
11,300
35,040
7,390
1,611
R-038
Rhyolitic Tuff
Selective
3.52
218
7,560
53,260
6,830
839
R-063
Vein
0.9
2.25
323
2,590
28,710
22,010
752
R-065
Rhyolite
0.5
2.50
487
547
7,000
539
723
R-074
Vein
0.6
2.54
79
2,530
76,490
539
615
R-005
BX
0.5
0.01
225
197
56,660
7,190
482
R-057
Vein
0.1
4.76
35
766
4,320
545
443
RM-1001
Rhyolite
0.5
0.82
203
778
27,160
4,030
403
R-007
Dump
Selective
0.01
234
155
37,520
4,420
403
RM-1010
Vein
0.3
1.76
154
1,570
12,570
2,250
375
R-060
Rhyolite
0.9
1.17
137
1,310
15,010
2,070
316
RM-1005
Rhyolite
0.8
1.38
34
7,570
12,390
4,510
315
R-059
Vein
1.5
0.16
99
3,450
21,250
15,160
312
R-068
Rhyolite
0.5
0.26
146
719
10,520
9,760
263
RM-1008
Vein
1.7
0.24
165
883
2,900
10,570
256
RM-1011
Vein
0.3
1.60
76
954
5,930
2,880
253
R-061
Vein
0.3
1.28
103
699
6,530
1,550
246
R-064
Rhyolite
0.5
0.12
102
544
11,260
16,080
238
R-069
Vein
0.7
0.12
101
1,050
10,620
12,520
225
RM-1000
Rhyolite
1
0.18
55
4,100
20,230
4,030
222
R-054
Vein
0.3
1.01
49
2,190
6,690
1,030
189
R-070
Rhyolite
0.5
0.07
113
347
5,010
9,440
187
R-067
Rhyolite
0.5
0.23
130
1,060
3,440
1,220
181
R-056
Rhyolite
0.6
0.15
88
1,480
13,820
1,370
180
R-019
Rhyolite
1
0.01
100
118
7,830
8,720
174
Note:
The sample results and photographs above are selective by nature and may not be representative of the true grade or style of mineralization across the Property.
The AgEq results disclosed herein assume US$1,750 gold and US$22 silver per/oz, and US$4.30 copper, US$1.25 lead, and US$1.50 zinc per/lb, and 100% metallurgical recovery.
"We are very encouraged by the initial results from our re-evaluation of the Nora Project," said Michael Romanik, president of Silver Dollar. "Follow-up geological mapping is underway and will include a detailed examination of the Candy Vein outcrops and known faults in the surrounding area to gain a better understanding of structural controls and define potential drill targets."
Procedure, quality assurance/quality control and data verification:
All rock samples were collected, described, photographed, and bagged on-site. The samples were delivered by Silver Dollar staff to ActLabs in Zacatecas, Mexico for analysis. ActLabs is ISO 9001:2015 certified. Soil samples were screened to -80 mesh at the lab, prior to analysis. Gold is analyzed by a 30g Fire Assay with AA (atomic absorption spectroscopy) finish, then gravimetric finish if greater than 10ppm Gold. Silver and 34 other elements were analyzed using a four-acid digestion with an ICP-OES (Inductively Coupled Plasma Optical Emission spectroscopy) finish. Silver, lead, zinc, and copper over limits were re-assayed using an ore-grade four-acid digestion with ICP-AES (Inductively coupled plasma atomic emission spectroscopy) finish. Control samples comprising certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's quality assurance and quality control protocol.
About the Nora Property:
Silver Dollar acquired a 100% interest in the Nora Ag-Au property (the "Property") from Canasil Resources, subject to a 2% net smelter returns royalty (See news release of February 8, 2024).
Located in the Eastern Sierra Madre sub-province in the transition to the high plateau of Mexico, the Property lies centrally within the "Silver Trend" that runs from the northwest to the southeast through Durango State (Figure 2). Significant deposits in the region include Endeavour Silver's Guanaceví mine and Fresnillo's San Julián mine on-trend to the northwest, with Endeavour Silver's Pitarrilla project approximately 50 kilometres (km) to the east. Pitarrilla is one of the largest undeveloped silver deposits in the world and was discovered by Perry Durning and Frank (Bud) Hillemeyer, Silver Dollar's technical advisors.
The Property is located approximately 200 km north-northwest of the city of Durango (See location map), with excellent year-round access via Federal highway, paved road, and local dirt roads. Local infrastructure is available in the towns of Tepehuanes and Santa Maria del Oro and the city of Santiago Papasquiaro, all within 50km of the Property.
Mike Kilbourne, P.Geo., an independent Qualified Person (QP) as defined in NI 43-101, has reviewed and approved the technical contents of this news release on behalf of the Company. The QP and the Company have not completed sufficient work to verify the information on the Nora property, particularly regarding historical exploration, neighbouring companies, and government geological work.
About Silver Dollar Resources Inc.
Silver Dollar is a mineral exploration company that is fully funded to execute its near-term exploration plans having closed its last financing with lead orders from billionaire mining investor Eric Sprott and NYSE-listed First Majestic Silver. The Company's primary projects lie within Mexico's prolific Durango-Zacatecas silver-gold belt and include the flagship La Joya property and the Nora property. Management has an aggressive growth strategy and is actively reviewing potential acquisitions with a focus on drill-ready projects in mining-friendly jurisdictions.
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ON BEHALF OF THE BOARD
Signed "Michael Romanik"
Michael Romanik, President, CEO & Director Silver Dollar Resources Inc. Direct line: (204) 724-0613 Email: [email protected] 179 - 2945 Jacklin Road, Suite 416 Victoria, BC, V9B 6J9
Forward-Looking Statements:
This news release may contain "forward-looking statements." Forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this news release.
