Norseman Silver Inc. announced sampling results and an update on the Taquetren Project, Rio Negro, Argentina. Phase 1 work at Taquetren, this year included completing seventeen trenches and magnetometry, gradient-array IP and resistivity geophysical surveys. The work was spread across three prospects, Irma, Martha, and Centro, which are located within 4 km of each other.

At Irma, the analytical and field results indicate a sheeted complex of gold-bearing, locally discontinuous veinlets and veins covering an area of approximately 1.8 km by 0.5 km, oriented northeast-southwest. Phase 2 trenching and geophysics to generate drill targets at Irma and Centro is proposed for Fourth Quarter 2023. Rock chip results: 18.10 Au g/t, 13.43 Au g/t, 12.22 Au g/t, 11.48 Au g/t, and 9.92 Au g/t; Trench intersections include 5.2 m @ 1.8 g/t Au; 3.4 m @ 3.8 g/t Au; and 3.6m @ 1.0 g/t Au; Five clear resistivity anomalies are aligned with the vein and structural fabric orientation.

The main geological formations mapped at Taquetren Project are calc-alkaline components of the Jurassic Taquetren Formation. The dominant lithologies are andesites, intercalated with rhyolites and ignimbrites. In the southwest of the area, the Gastre Fault system traverses Taquetren in a northwesterly direction.

The Gastre fault system is a major or first-order crustal structure that hosts the Navidad silver deposit 120 km to the southeast. In the Taquetren project area a second-order structural fault system oriented to the northeast is evident. Gold-pyrite quartz veins, veinlets, and geophysical and geochemical anomalies are preferentially aligned northeast-southwest.

The adjacent Calcatreau gold deposit is controlled by similar NE-SW oriented second-order structures. At Irma, gold mineralization corresponds to a system of several veins and subparallel veinlets trending NE-SW predominantly hosted in andesites. In places the veining is intense, resembling stockwork zones.

The veins are discontinuous in grade, length and thickness but the anomalous zone as a whole covers an area approximately 1.8 km long by 0.5 km wide. At Martha, there is evidence of a buried low-sulfidation epithermal system. Weak gold and arsenic anomalism in soil geochemistry are spatially related to rhyolitic domes and ignimbritic flows.

There is silicification visible at surface, and notable rock float with well-defined lattice bladed textures that may represent the boiling zone of a typical epithermal system.