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Silver Sands Provides Exploration Summary Ahead of Phase III Drill Program on The Virginia Silver Project

Silver Sands Provides Exploration Summary Ahead of Phase III Drill Program on The Virginia Silver Project
Vancouver, British Columbia–(Newsfile Corp. – October 5, 2021) – Silver Sands Resources Corp. (CSE: SAND) (OTCQB: SSRSF) (“Silver Sands” or th…

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Silver Sands Provides Exploration Summary Ahead of Phase III Drill Program on The Virginia Silver Project

Vancouver, British Columbia–(Newsfile Corp. – October 5, 2021) – Silver Sands Resources Corp. (CSE: SAND) (OTCQB: SSRSF) (“Silver Sands” or the “Company”) is pleased to provide an exploration summary of its extremely successful 2020/2021 exploration program at its Virginia Silver Project in Santa Cruz Province, Argentina. In addition, the Company would like to announce that its currently finalizing Phase III of its upcoming 2021/2022 exploration program, which it expects to commence as soon as crews are mobilized. Silver Sands is planning an aggressive exploration campaign designed to build on the success of last seasons discoveries.

Silver Sands controls the 59,750ha advanced exploration stage Virginia silver project. It has an existing NI-43-101 resource of 1,149,000 Tonnes at 310 g/t silver for a total of 11.9 Moz silver in the indicated category and 430,000 Tonnes at 207 g/t silver for a total of 3 Moz in the inferred category*. The mineral resources are contained within seven conceptual open pits.

*The Mineral Resource Estimate was reported by the Vendor, Mirasol Resources Ltd., in a report titled Project, Santa Cruz Province, Argentina — Initial Silver Mineral Resource Estimate” with an effective date of Oct. 24, 2014, and a report date of Feb. 29, 2016 by D. Earnest and M. Lechner. Copies of the report are available from the company.

Early exploration of the Virginia Vein Field discovered more than 15 veins, including: Julia South, Julia Central, Julia North, Ely South, Ely North, Margarita, Roxane, Naty, Martina, Magi, Priscilla, Daniela, Patricia, Maos, Mercedes, and Naty Extension. Mineralized vein outcrop widths ranged from one to five meters. Vein outcrops, subcrop, and vein float could be traced for hundreds of meters of strike length in some instances. Subsequent drilling of these vein structures was successful in the definition of a preliminary indicated and inferred resource.

Highlights From Last Season’s Exploration Program

  • Phase I exploration tested the potential for new high-grade silver zones to expand on the existing NI 43-101 resource and was comprised of a total of 2,831m in 18 diamond drill holes. A total of 80.5 line kilometres of PDP IP surveying was completed to further define the historic gradient array chargeability anomalies for drill targeting.
  • Phase II exploration program comprised 20 drill holes for a total of 3,104 m. The Phase II program focused on following up on the results of Phase I and testing several new prospective zones. A further of 37.5 line kilometres of PDP IP surveying defined a new area to NE of the main vein field and will be worked up for drill targeting.
  • New discoveries were made in areas of lower IP chargeability, opening up the potential for strike extensions of known veins, as well as new discoveries within previously untested linear trends of lower intensity.

  • Drilling led to the discovery of a new high-grade zone at Ely Central, where drilling intersected strong and continuous Ag grades in four drill holes over a 200 m strike length. Drilling also intercepted high grade silver mineralization at the Ely North, Martina NW and Julia South targets.

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Figure 1. Key Zones.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6972/98556_4436ae6c143b5918_001full.jpg

  • Phase I and II drilling confirmed the Ely structure can be traced over 1.7 km in strike length from north to south and it is still open on strike to the north and south and also at depth. The Naty-Julia Structure now extends to over 3 km in strike length and is still open to the north and south and at depth.
  • At Ely Central, drilling discovered a 200 m open ended strike length of strong silver mineralization that lies within a 580m “gap” left untested from the original drilling at Virginia by Mirasol in 2012.

New Discoveries and Drill Results

Drilling defined the new mineralized shoot with significant silver intercepts between the Ely South and Ely North conceptual pits. In addition, 400m between Ely Central and North remains to be drill tested. Highlights include:

  • 639 g/t Ag over 9.60m (EC-DDH-004)
  • 625 g/t Ag over 10.80m, including 1,110 g/t Ag over 5.70m (EC-DDH-005)
  • 560 g/t Ag over 9.98m, including 1,578 g/t Ag over 2.87m (EC-DDH-003)
  • 233.54 g/t Ag over 9.25m, including 441.71 g/t Ag over 4.5m (EC-DDH-001)

Drilling of lower intensity chargeability anomalies at Ely North Extension is defining a new mineralized shoot with significant silver intercepts 70m and 400m north of the existing Ely North conceptual pit, suggesting a 350m strike length. These intercepts included:

  • 476 g/t Ag over 4.0m, including 929 g/t Ag over 1.85m (EN-DDH-002)
  • 91 g/t Ag over 7.5m (EN-DDH-001)

A potential 200m long mineralized shoot is also developing at Martina NW, with silver intersections of:

  • 198.51 g/t Ag over 33.5m, including 316 g/t Ag over 17.7m (MSE-DDH-001)
  • 70.8 g/t Ag over 13.05m, including 149.54 g/t Ag over 3.13m at and 596.54 g/t Ag over 0.3m at (MSE-DDH-003)

At Julia South, Phase I and Phase II drilling indicates a strong potential for significant silver mineralization along the Julia South structural trend exists further to the south of the current Julia South conceptual resource pit. A potential 400m long mineralized shoot is developing at Julia South Extension, defined by drill holes spaced 70m to 370m south of the Julia South conceptual pit. The intercepts include:

  • 360 g/t silver over 0.4m (JSE-DDH-003)
  • 259 g/t silver over 0.7m (JSE-DDH-002)
  • 192 g/t silver over 5.5m, including 372 g/t silver over 1.6m (JS-DDH-003)
  • 140.27 g/t silver over 4.2m, including 483 g/t silver over 0.35m (JSE-DDH-001)
  • 123.43 g/t silver over 8.5m, including 168.34 g/t silver over 3.9m (JS-DDH-001)

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Figure 2. Highlighted New Zones from Phase I and Phase II Programs

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6972/98556_4436ae6c143b5918_002full.jpg

The success at Ely North and Ely Central suggests lower intensity chargeability anomalies may also indicate silver bearing veins. Mirasol only drilled the highest chargeability anomalies during their 2010-2012 programs, meaning the lower intensity chargeability anomalies within the main vein field need to be re-evaluated for potential silver bearing veins.

IP Survey Identifies 17 Similar Targets

An IP survey to the NE of the existing vein field has identified 17 targets with chargeability response similar to known veins in the main vein field.

Keith Anderson, Chief Executive Officer of Silver Sands commented, “We are eager to follow up on our Phase I and Phase II exploration successes at Virginia. Significant intersections at Ely North, Ely Central, Martina SE and Julia South bode well for resource expansion, as the Phase III program will be directed at expanding each of these zone.” He continued, “We will also continue the PDP IP to extend the Virginia vein field further to the northeast, an area where management anticipates discovery of new ounces of silver.”

About Virginia

Virginia is a low to intermediate sulphidation epithermal silver deposit located in the mineral-rich Deseado massif, lying within the mining-friendly state of Santa Cruz in the Patagonia region of Argentina. Through initial discovery in 2009 to four drill programs between 2010 and 2012, Mirasol Resources was able to define an initial indicated mineral resource of 11.9 million ounces of silver at 310 g/t Ag and a further inferred 3.1 million ounces of silver at 207 g/t Ag within seven conceptual pits. This resource is documented in a Mirasol Resources technical report entitled: “Amended Technical Report, Virginia Project, Santa Cruz Province, Argentina — Initial Silver Mineral Resource Estimate” with an effective date of Oct. 24, 2014, and a report date of Feb. 29, 2016.

Several additional vein structures within the property package remain highly prospective, as Mirasol concentrated the bulk of its exploration effort on the resource area at the expense of continuing exploration on the underexplored additional veins. Several of these structures have highlight silver values in excess of 1,000 g/t Ag and have a high probability of hosting additional silver resources. These veins structures will be the primary focus of the Silver Sands 2020/2021 exploration efforts.

Silver Sands is earning a 100-per-cent interest in Virginia by issuing sufficient shares for Mirasol to end up with 19.9 per cent of the issued and outstanding of Silver Sands and completing $6-million (U.S.) in exploration over three years. Mirasol will retain a 3-per-cent net smelter return royalty with Silver Sands having the option of purchasing one-third of the royalty for $2-million (U.S.).

About Silver Sands Resources Corp.

Silver Sands is a well-financed, Canada-based company engaged in the business of mineral exploration and the acquisition of mineral property assets in mining-friendly jurisdictions. Its objective is to locate and develop economic precious and base metal properties of merit. Its key asset is the Virginia silver project, located in the mining-friendly Santa Cruz state of Argentina.

On Behalf of the Board of Directors

Keith Anderson
Chief Executive Officer, Director

For further information, please contact:

Keith Anderson
Chief Executive Officer, Director (604) 786-7774

Qualified Person Statement: Silver Sand’s disclosure of technical and scientific information in this press release has been reviewed and approved by R. Tim Henneberry, P.Eng., a director of the Company, who serves as a Qualified Person under the definition of National Instrument 43-101.

QAQC: Silver Sands applies industry standard exploration sampling methodologies and techniques. All geochemical rock and drill samples are collected under the supervision of the company’s geologists in accordance with industry practice. Geochemical assays are obtained and reported under a quality assurance and quality control (QA/QC) program. Samples are dispatched to an ISO 9001:2008 accredited laboratory in Argentina for analysis. Assay results from channel, trench, and drill core samples may be higher, lower or similar to results obtained from surface samples due to surficial oxidation and enrichment processes or due to natural geological grade variations in the primary mineralization.

Forward Looking Statements: The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry and to policies linked to pandemics, social and environmental related matters. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. Silver Sands disclaims any obligations to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.

Neither the Canadian Securities Exchange (“CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

 

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/98556

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West High Yield (W.H.Y.) Resources Ltd. Announces Grant of Stock Options

Calgary, Alberta–(Newsfile Corp. – October 22, 2021) – West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) ("West High Yield" or the "Company") announces…

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Calgary, Alberta–(Newsfile Corp. – October 22, 2021) – West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) (“West High Yield” or the “Company“) announces that its board of directors has approved and authorized the grant of 350,000 stock options (the “Options“) to a consultant of the Company effective October 21, 2021. The Options are granted in accordance with the terms of the stock option plan of the Company. All of the Options vest on their date of grant and every one (1) Option entitles the holder thereof to purchase one (1) common share of the Company at a price of CAD$0.34 per common share for a period of five (5) years from the Option grant date.

About West High Yield

West High Yield is a publicly traded junior mining exploration and development company focused on the acquisition, exploration, and development of mineral resource properties in Canada with a primary objective to develop its Record Ridge magnesium deposit using green processing techniques to minimize waste and CO2 emissions.

Contact Information:

West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco, President and Chief Executive Officer
Telephone: (403) 660-3488 Facsimile: (403) 206-7159
Email: [email protected]

Cautionary Note Regarding Forward-looking Information

This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; and other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

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 OF THIS RELEASE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100621





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Scorpio Gold – Arranges Short-Term Credit Facility with Board

VANCOUVER, BC / ACCESSWIRE / October 22, 2021 / Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX-V:SGN) reports that certain of the directors…

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VANCOUVER, BC / ACCESSWIRE / October 22, 2021 / Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V:SGN) reports that certain of the directors of the Company have agreed to provide the Company with a short- term credit facility in order to maintain its operations over the short-term. The proceeds of the advances made under the credit facility will be used to bridge the Company’s activities until all Goldwedge assays have been announced so that an equity placement can be conducted later in the year.

As announced on September 29, 2021, the pending assays from the Goldwedge underground drill program will be announced upon receipt and analysis. The drill program was focused on defining the on-strike and down-dip continuity of mineralization intersected in the 2020 drilling program (July 27, 2020 news release) as well as testing new areas with the potential to define a mineral resource base.

Future drilling will test the Company’s structural interpretation that mineralization at Goldwedge could connect with mineralization in the West Pit area of the Company’s adjacent and proximal Manhattan Mine project. Goldwedge is a fully permitted underground mine and a 400 ton per day mill facility. The Manhattan Property includes 2 former producing mines, the Reliance Mine, which reportedly produced ~59,000 tons grading 0.435 oz/ton from 1932 to 1941, and the Manhattan Mine East and West pits, which produced ~236,000 oz. from 1974-1990. The deposits lie along the northwest-trending Reliance StructuralZone, which is considered the most predominant ore controlling structure in the region. The Reliance trend continues 4 km southeast to Scorpio Gold’s Keystone-Jumbo project area.

The credit facility is unsecured and interest free for US$500,000 to be drawn in advances at a minimum of US$100,000 over the next few months. All advances must be repaid within the earlier of Scorpio Gold closing a private placement more than C$1,000,000 and January 1, 2022.

ON BEHALF OF THE BOARD

SCORPIO GOLD CORPORATION

Brian Lock
Chief Executive Officer

Brian Lock
Tel: (604) 889-2543
Email: [email protected]

Anthony Simone
Tel: (416) 881-5154
Email: [email protected]
Website: www.scorpiogold.com

Neither 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.

The Company relies on litigation protection for forward-looking statements. This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur, and include, without limitation, statements regarding the Company’s plans with respect to the exploration of its Goldwedge and Manhattan mines project. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements, including risks involved in mineral exploration programs and those risk factors outlined in the Company’s Management Discussion and Analysis as filed on SEDAR. Any forward-looking statement speaks only as of the date on which it is made 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. Forward-looking statements are not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty thereof.

SOURCE: Scorpio Gold Corporation

View source version on accesswire.com:
https://www.accesswire.com/669314/Scorpio-Gold–Arranges-Short-Term-Credit-Facility-with-Board





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Canstar Adopts Advance Notice By-law

 

Toronto, Ontario – TheNewswire – October 22, 2021 – CANSTAR RESOURCES INC. (TSXV:ROX) & (OTC:CSRNF) (“Canstar” or the “Company”) announces…

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Toronto, Ontario – TheNewswire – October 22, 2021 – CANSTAR RESOURCES INC. (TSXV:ROX) & (OTC:CSRNF) (“Canstar” or the “Company”) announces that its board of directors approved the adoption of an advance notice by-law (the “Advance Notice By-law”), establishing a framework for advance notice of nominations of directors by shareholders of the Company (“Shareholders”). Among other things, the Advance Notice By-law fixes certain deadlines by which Shareholders must submit a notice of director nominations to the Company prior to any annual or special meeting of shareholders where directors are to be elected and sets forth the information that must be included in the notice.  

The Advance Notice By-law provides a clear process for Shareholders to follow for director nominations and sets out a reasonable time frame for the submissions of nominees and the accompanying information. The Advance Notice By-law will help to ensure that all Shareholders receive adequate notice of the nominations to be considered at a Shareholder meeting at which directors are to be elected and can thereby exercise their voting rights in an informed manner. The Advance Notice By-law is similar to the advance notice by-laws adopted by many other Canadian public companies.

More specifically, the Advance Notice By-law requires advance notice to the Company in circumstances where nominations of persons for election as a director of the Company are made by Shareholders other than pursuant to a request for a meeting or through a Shareholder proposal, in each case in accordance with the Business Corporations Act (Ontario) (the “OBCA”)

In the case of an annual meeting of Shareholders, notice to the Company must be given not less than 30 or more than 65 days prior to the date of the annual meeting. In the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be given not later than the close of business on the 10th day following such public announcement.

In the case of a special meeting of Shareholders (which is not also an annual meeting), notice to the Company must be given not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.

The Advance Notice By-law is effective immediately and will be placed before Shareholders for approval, confirmation and ratification at the next annual and special meeting of Shareholders of the Company to be held on November 29, 2021 (the “Meeting”). Pursuant to the provisions of the OBCA, the Advance Notice By-law will cease to be effective unless approved, ratified and confirmed by a resolution adopted by a majority of the votes cast by Shareholders at the Meeting.

 

About Canstar Resources Inc.

Canstar is focused on the discovery and development of economic mineral deposits in Newfoundland and Labrador, Canada. Canstar has an option to acquire a 100% interest in the Golden Baie Project, a large claim package (62,175 hectares) with recently discovered, multiple outcropping gold occurrences on a major structural trend in south Newfoundland. The Company also holds the Buchans-Mary March project and other mineral exploration properties in Newfoundland. Canstar Resources is based in Toronto, Canada, and is listed on the TSX Venture Exchange under the symbol ROX and trades on the OTCPK under the symbol CSRNF.

 

For further information, please contact:

Rob Bruggeman P.Eng., CFA

President & CEO

Email: [email protected]

Phone: 1-647-247-8715

www.canstarresources.com

 

Forward-Looking Statements

Neither 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.

 

This News Release includes certain “forward-looking statements” which are not comprised of historical facts. Forward looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the obtaining of Shareholder approval at the Meeting in respect of the Advance Notice By-law, the expected timing of the Meeting, the Company’s expectation that the Advance Notice By-law will provide the Company’s shareholders, directors and management with a transparent, fair and structured framework under which Shareholders may submit director nominations, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Copyright (c) 2021 TheNewswire – All rights reserved.




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