Key Highlights – Underground diamond drilling at Reliquias
Drill Hole SMR169-23-PAS (PAS vein)
- 2.55 m @ 492 g/t Ag, 1.05% Pb, 2.38% Zn, 0.09% Cu and 2.06 g/t Au, including
- 0.20 m @ 2,558 g/t Ag, 6.37% Pb, 16.49% Zn, 0.41% Cu and 18.61 g/t Au
- 1.60 m @ 33 g/t Ag, 2.74% Pb, 7.02% Zn, 0.51% Cu and 0.04 g/t Au, including
- o 0.35 m @ 77 g/t Ag, 8.37% Pb, 21.53% Zn, 1.03% Cu and 0.09 g/t Au
Drill Hole SMR166-23-VUL (VUL vein)
- 0.85 m @ 14 g/t Ag, 1.18% Pb, 2.21% Zn, 0.06% Cu and 3.50 g/t Au, including
- 0.55 m @ 16 g/t Ag, 1.42% Pb, 2.82% Zn, 0.08% Cu and 5.09 g/t Au
The second phase of the 2023 drill program consisted of 45 underground diamond drill holes totaling 12,140 metres of HQ and NQ diameter drilling from 6 platforms targeting the Sacasipuedes, Perseguida, Pasteur, Vulcano, Natividad, Matacaballo and Beatita veins. The Company has now received results from all completed drill holes and details on the location of the underground drill platforms and drill traces are found in Figure 1. Table 1 also shows a summary of the results announced in this news release. Details from all drill holes announced to date will be posted on the Company's website (https://agmr.ca/)
Drilling during the last part of Phase 2 of the 2023 drill program focused on the eastern extension of the Matacaballo vein system, near the intersection with the Pasteur, Beatita and Vulcano veins, all three of which are northwest-southeast trending structures which were not incorporated into the current mineral resource estimate. Drilling was aimed at stepping out on known veins, tightening the drillhole spacing so as to incorporate them into the mineral resource estimate, and testing the continuity of previously undrilled or unknown veins such as Vulcano and Natividad respectively.
At the newly discovered Natividad vein, drill Hole
Drilling on the Pasteur vein has found high grade silver and gold mineralization below existing workings, and has extended the mineralized structure approximately 80 metres to the northwest. The highest grade zone remains open along strike to the northwest and at depth. Figure 3 shows an updated long section of the Pasteur vein. Twelve of the drill holes reported here intersected the Vulcano vein, one of several parallel structures to Pasteur, including the Beatita vein ("BEA"). Drilling tested approximately 700 metres of strike length and 300 metres of down dip extension along the VUL vein, with the best gold and silver results found near the deepest intercepts on hole SMR166-23-VUL. Figure 4 shows a long section of the VUL vein.
The 2023 drill program consisted of two phases: an initial 3,500 metre phase using BQ diameter core (now completed); and a second 12,140 meter phase using NQ and HQ diameter core. Full results from the BQ diameter drilling have been announced (see also
On Behalf of the Board of Directors of
For additional information in respect of the
For further information about our drill program, including cross sections of the main veins with drill hole locations, please refer to our corporate presentation, available on our website at www.agmr.ca
Silver Mountain's subsidiary Sociedad Minera Reliquias S.A.C. owns 100% of its concessions and holds more than 60,000 hectares in the district of Castrovirreyna, Huancavelica,
Neither
Silver Mountain follows systematic and rigorous sampling and analytical protocols which meet industry standards. These protocols are summarized below.
All drill holes are diamond core holes with BQ, HQ or NQ core diameters. Drill core is collected at the underground drill site where recovery measurements are taken before the core is transported by truck to the core logging facility at the Caudalosa Grande mine camp, where it is photographed and geologically logged. The core is then cut in half with a diamond saw blade with half the sample retained in the core box for future reference and the other half placed into a pre-labelled plastic bag, sealed with a plastic zip tie, and identified with a unique sample number. The core is typically sampled over a 1 - 2 metre sample interval unless the geologist determines the presence of an important geological contact. The bagged samples are then stored in a secure area pending shipment to a certified laboratory sample preparation facility.
Rock channel samples were collected with an electric percussion hammer and do not exceed 1.0 m in length. Channels are broken at obvious geologic boundaries to correctly separate rock types and mineralization styles. The sample bags were sealed with a plastic zip tie and identified with a unique sample number, pending shipment to a certified laboratory sample preparation facility.
Samples are sent by batch to the ALS or Certimin laboratories in
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to Silver Mountain's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Silver Mountain's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the factors set forth under "Forward-Looking Statements" and "Risk Factors" in the Company's final prospectus dated
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