Phase 2 drilling also included drilling within the Deer Trail Mine Corridor (Table 2). Differing characteristics suggest Carissa and the Deer Trail Mine Corridor were both fed along separate mineralization channel-ways leading from the interpreted Deer Trail Mountain Porphyry to the west. Assays are pending for two additional holes and drilling continues 1.7 km southeast of the Carissa zone on a strong geophysical anomaly at the intersection of two major structures. Follow-up drill permits for Carissa are expected soon.
Carissa Zone Discovery: DT22-09 & 10 contain, by far, the most widespread mineralization and strongest alteration drilled on the property. Both holes cut several hundred meters of progressively increasing Argentiferous (Silver-bearing) Manganese-Oxide Mineralization (“AMOM”), marble and skarn before entering distinctive zones of Silver-Copper-Zinc bearing sulfide “lacing”, in turn cut by zones of pervasive mineralized skarn (Figure 2). DT22-10 was lost above target depth in a mineralized structure after cutting 115.7 m of very similar alteration and lacing mineralization (Table 1, Figure 1). The sulfide lacing and skarn zones in both Carissa holes become progressively stronger with depth and show significant increases in pathfinder elements (W, Sn, Bi, Mo), suggesting increasing proximity to the suspected porphyry-related mineralization source.
“Stepping out aggressively into the previously untouched Carissa zone led to the strongest and most extensive mineralization and alteration seen at
Key Takeaways:
- DT22-09 intercepted 273.8m of distinctive sulfide lacing (mineralization) averaging 12 g/t Silver, 0.2% Copper, 0.1% Lead and 0.2% Zinc, with individual sulphide bands grading 59-266 g/t Silver, 0.2-5.5% Copper, 0.1-1.5% Lead, 0.1-5.2% Zinc and Trace-1.5 g/t Gold (Table 1).
- The lacing zone in Hole DT22-09 is preceded by hundreds of metres of progressively zoned AMOM, marble and mineralized garnet-pyroxene-magnetite skarn.
- DT22-10 cut the same progression of alteration as DT22-09 over 115.6 m before being lost in sulphide lacing mineralization.
- High grade mineralization intercepted in holes DT22-05 through 08 within the “Deer Trail Mine Corridor” (Table 2, Figures 1 & 2) has differing compositional and geological characteristics from those observed at Carissa, indicating they were likely fed along separate mineralization pathways from those responsible for Carissa.
- The overall results continue to reinforce MAG’s CRD exploration model and suggest multiple mineralization channel-ways extending from the inferred
Deer Trail Mountain porphyry center. Multiple fluid channel-ways are a characteristic of many major CRD system.
Table 1: Phase 2 Drilling Highlights “Carissa Zone”
HOLE ID | From (m) | To (m) | Length (m)3 | Ag (g/t) | Au (g/t) | Cu (%) | Pb (%) | Zn (%) |
DT22-09 | 480.39 | 480.69 | 0.30 | 96 | 0.65 | 0.08 | 0.21 | 0.20 |
and | 830.50 | 830.75 | 0.25 | 81 | 0.09 | 0.03 | 0.40 | 0.02 |
and | 914.50 | 915.40 | 0.90 | 2 | 1.49 | 0.00 | 0.00 | 0.01 |
and | 1262.25 | 1262.70 | 0.45 | 68 | 0.03 | 0.01 | 0.39 | 0.47 |
and | 1295.47 | 1569.28 | 273.81 | 12 | 0.04 | 0.21 | 0.07 | 0.20 |
incl | 1303.46 | 1350.83 | 47.37 | 17 | 0.02 | 0.30 | 0.12 | 0.35 |
incl | 1372.60 | 1375.53 | 2.93 | 171 | 0.19 | 0.68 | 1.08 | 0.82 |
incl | 1511.03 | 1569.28 | 58.25 | 22 | 0.10 | 0.44 | 0.11 | 0.26 |
incl | 1511.03 | 1521.17 | 10.14 | 43 | 0.15 | 0.85 | 0.14 | 0.21 |
incl | 1518.87 | 1521.17 | 2.30 | 108 | 0.26 | 2.65 | 0.29 | 0.65 |
incl | 1542.66 | 1569.28 | 26.62 | 30 | 0.16 | 0.62 | 0.17 | 0.46 |
incl | 1543.25 | 1545.11 | 1.86 | 93 | 0.16 | 0.07 | 1.46 | 5.24 |
incl | 1565.30 | 1569.00 | 3.70 | 53 | 0.49 | 1.98 | 0.08 | 0.07 |
incl | 1566.42 | 1566.62 | 0.20 | 142 | 0.82 | 5.47 | 0.29 | 0.15 |
DT22-102 | 833.80 | 834.90 | 1.10 | 32 | 0.07 | 0.01 | 0.23 | 0.20 |
and | 1285.35 | 1286.25 | 0.90 | 39 | 0.02 | 0.62 | 0.45 | 0.99 |
and | 1240.00 | 1355.68 | 115.68 | 11 | 0.01 | 0.20 | 0.12 | 0.32 |
incl | 1294.90 | 1319.85 | 24.95 | 24 | 0.01 | 0.44 | 0.26 | 0.68 |
incl | 1309.45 | 1317.55 | 8.10 | 34 | 0.02 | 0.61 | 0.36 | 1.02 |
incl | 1314.75 | 1317.55 | 2.80 | 45 | 0.03 | 0.87 | 0.46 | 1.17 |
and | 1354.55 | 1355.15 | 0.60 | 31 | 0.14 | 0.97 | 0.04 | 7.47 |
incl | 1354.75 | 1354.95 | 0.20 | 35 | 0.20 | 1.92 | 0.01 | 14.90 |
1 grammes per tonne 2 hole lost within mineralization at 1355.68m 3 core length
Deer Trail Mine Corridor: Narrow high-grade mineralization was also intercepted in three holes within the “Deer Trail Mine Corridor" (Figure 1, Table 2) with intercept grades of 17-151 g/t Silver, Trace (Tr)-6.5 g/t Gold, Tr-0.9% Copper and Tr-29.5% Lead plus Zinc, all of which appear related to bleeder structures.
Table 2: Phase 2 Drilling Highlights “Deer Trail Mine Corridor”
HOLE ID | From (m) | To (m) | Length (m)2 | Ag (g/t) | Au (g/t) | Cu (%) | Pb (%) | Zn (%) |
DT21-04 | Lost | |||||||
DT21-05 | 645.95 | 646.40 | 0.45 | 5 | 2.74 | 0.00 | 0.00 | 0.01 |
and | 700.36 | 700.85 | 0.49 | 137 | 0.60 | 0.18 | 15.30 | 14.24 |
and | 906.38 | 906.62 | 0.24 | 41 | 1.85 | 0.43 | 5.66 | 5.16 |
and | 912.35 | 913.10 | 0.75 | 75 | 1.11 | 0.34 | 0.28 | 0.32 |
DT21-06 | 1466.38 | 1469.70 | 3.32 | 17 | 0.12 | 0.92 | 0.26 | 0.53 |
DT22-07 | 690.72 | 691.88 | 1.16 | 151 | 0.53 | 0.06 | 0.03 | 0.11 |
and | 939.67 | 940.07 | 0.40 | 1 | 6.53 | 0.01 | 0.00 | 0.00 |
and | 1082.80 | 1085.70 | 2.90 | 24 | 0.03 | 0.67 | 6.69 | 7.37 |
DT22-08 | 1112.37 | 1113.40 | 1.03 | 2 | 0.11 | 0.50 | 0.00 | 0.01 |
1 grammes per tonne 2 core length
Phase 2 Drilling Program
The Phase 2 drilling program was designed to follow up on 2021’s limited Phase 1 drilling, which successfully proved three vital features for project viability:
- Adequate thickness of favorable host rocks: All holes cut between 250 and 300 meters of the Redwall Limestone, a regionally pure limestone and excellent potential host for CRD mineralization;
- Traceable Plumbing: All holes succeeded in cutting projections of identified mineralized “feeder” structures to depth; and
- Mineralization: All holes cut high-grade Silver-Gold-Copper-Lead-Zinc mineralization in the targets.
The Phase 2 drilling program built on those results and is focused on:
- Follow-up testing of Phase 1 mineralized intercepts;
- Testing newly developed targets (including Carissa); and
- Identifying vectors leading towards the Porphyry Copper-Molybdenum source intrusion inferred to underlie
Deer Trail Mountain 3 km to the west.
Eight holes were completed in the Phase 2 drilling program with results for six reported here. Two holes, DT22-04 and 10 were lost before reaching target depth. Assays are pending for completed holes DT22-11 & 12 and a large step out hole (DT22-13) is currently in progress 1.7 km southeast of the Carissa zone testing a strong geophysical anomaly coincident with the intersection of 2 major structures. Like Phase 1, all completed Phase 2 holes have cut 210 m – 320 m of intensely marbled +/- skarned Redwall Limestone and all but the abandoned DT22-10 ended in a felsic porphyritic intrusive rock interpreted to post-date mineralization.
As with Phase 1, all core is:
- oriented, allowing collection of structural data down hole;
- photographed in natural and UV light; and
- systematically analysed with a pXRF and Terraspec Halo providing inexpensive detailed downhole geochemical and alteration profiles.
Deer Trail Mine Corridor Holes: DT21-04 to DT22-08
DT22-04 to 08 were designed to test:
- the down dip extension of well-mineralized feeder structures intercepted in Phase 1 within the mixed lithologies of the Callville Limestone (see Press Release dated
September 7, 2021 ) projected into the Redwall Limestone; and - highly prospective additional targets within the Deer Trail Mine Corridor.
Narrow (0.2 m to 3.3 m) mineralization was intercepted in these holes. DT22-05 (a redo of the lost DD22-04) was aimed at the intersection of the mineralized Wet and Monster Faults and intercepted 0.5 m grading 137 g/t Silver, 0.6 g/t Gold, and 30% Lead plus Zinc in bedding controlled manto-style mineralization. Hole DT22-06 a follow-up of DT21-02 from Phase 1, targeted the mineralized Red Fissure Fault, the principal feeder of the historic Deer Trail Manto, deeper within the Redwall Limestone. DT21-06 cut 3.3 m grading 17 g/t Silver, 0.12 g/t Gold, and 0.8% Lead plus Zinc and 0.9% Copper. DT22-07, a splay off of Hole 05, cut 2.9 m grading 24 g/t Silver, 0.03 g/t Gold, and 14.0% Lead plus Zinc. DT22-08, a follow-up splay off of DT21-03 from Phase 1, targeted the Wet Fault deeper within the Redwall Limestone and intersected 1.03 m grading 2 g/t Silver, 0.11 g/t Gold, and 0.01% Lead plus Zinc and 0.5% Copper.
The mineralization and alteration intercepted in these holes include manto-style sulphides, skarn and marble alteration features indicating the targeted feeder structures are nearby. These feeders appear to be offset across the Callville Limestone/Redwall Limestone contact. The high grades encountered in Phase 1 drilling, the extensive alteration in both phases and the indications of feeder proximity in Phase 2 indicates additional drilling is justified to continue seeking stronger mineralization along the feeders in these areas.
DT21-09 to DT22-10 - Carissa Zone Discovery
The discovery of the
Property Wide Exploration
Since MAG consolidated the
About
The silver-rich Deer Trail Carbonate Replacement Deposit “CRD” project in
MAG has consolidated the
Quality Assurance and Control: The samples (half core) are shipped directly in security-sealed bags to
Qualified Persons: Dr.
About
Neither the
This release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the US Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts are forward looking statements, including statements that address future mineral production, reserve potential, exploration drilling, exploitation activities and events or developments. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although MAG believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, changes in commodities prices, changes in mineral production performance, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions, political risk, currency risk and capital cost inflation. In addition, forward-looking statements are subject to various risks, including that data is incomplete and considerable additional work will be required to complete further evaluation, including but not limited to drilling, engineering and socio-economic studies and investment. The reader is referred to the Company’s filings with the
Please Note: Investors are urged to consider closely the disclosures in MAG's annual and quarterly reports and other public filings, accessible through the Internet at www.sedar.com and www.sec.gov
LEI: 254900LGL904N7F3EL14
Figure 1 accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/643f498b-dc63-45cf-93fd-99fc47d38910
Figure 2 accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/b981d61f-6c5a-40f6-8000-4ba3d8446fd2
For further information on behalf ofMAG Silver Corp. ContactMichael J. Curlook , VP Investor Relations and Communications Phone: (604) 630-1399 Website: www.magsilver.com Toll Free: (866) 630-1399 Email: info@magsilver.com
Figure 1
Figure 1
Figure 2
Figure 2: A) Unaltered Redwall Limestone. B) Pervasively dolomitized and marbled Redwall. C) and D) Sulfide lacing within Redwall Limestone. E) Mineralized Gamet-Pyroxene Skarn. F) Mineralized Magnetite Skarn
2023 GlobeNewswire, Inc., source