Assay results are pending, and the Company is fully funded for 2022 exploration
Vancouver, British Columbia–(Newsfile Corp. – February 23, 2022) –( ) (OTCQB: SLVDF) (“Silver Dollar” or the “Company”) is pleased to report that a total of 2,424 metres of core drilling has been completed through eleven holes at the La Joya Silver Project (the “Property”) located in the state of Durango, Mexico (See Figure 1).
The initial drilling program is focused on the Noria portion of the Property with an emphasis on target development and testing for possible structural extensions of known mineralized zones identified in historical drilling. Drill core sample results are pending for all holes and drilling is now on standby until we receive and interpret assay results.
Figure 1: Click on the image above to view a two-minute video introducing the La Joya Project
If you cannot view the video above, please visit:
The Company has experienced multiple missed deadlines for the sample assay results. This was due to issues with the original accredited lab apparently related to Omicron, prep lab back logs, personnel changes, and internal operational issues. Upon learning of the most recent delay, the Company has taken immediate action and within 48-hours has now moved the drill core sample pulps to another accredited lab who have promised the analytical results in a shorter time frame.
“Delays with the original lab were beyond our control and we have now taken steps to mitigate the issue,” said Mike Romanik, president of Silver Dollar. “Additionally, Versa Perforaciones has left their drill rig onsite so we can resume exploration drilling as soon as we have interpreted the initial drill results and plotted our next set of drill holes.”
Mike Kilbourne, P.Geo., an independent Qualified Person as defined in NI 43-101, has reviewed and approved the contents of this news release on behalf of the Company.
About the La Joya Property
The La Joya Property is situated approximately 75 kilometres directly southeast of the state capital city of Durango in a prolific mineralized region with past-producing and operating mines including Grupo Mexico’s San Martin Mine, Industrias Penoles’s Sabinas Mine,‘s La Colorada Mine, and First Majestic’s La Parrilla and Del Toro Silver Mines. Access and infrastructure near the property are considered excellent with a highway and power lines nearby.
Silver Dollar is a mineral exploration company that completed its initial public offering in May 2020 and is fully funded for 2022 with approximately $9 million in the treasury. The Company’s projects are located in two of the prolific mining jurisdictions in the world and include the advanced exploration and development stage La Joya Silver Project in the state of Durango, Mexico; and the discovery-stage Pakwash Lake and the Longlegged Lake properties in the Red Lake Mining District of Ontario, Canada. The Company has an aggressive growth strategy and is actively reviewing potentially accretive acquisitions with a focus on drill-ready projects in mining-friendly jurisdictions internationally.
ON BEHALF OF THE BOARD
Signed “Michael Romanik”
President, CEO & Director
Direct line: (204) 724-0613
Email: [email protected]
179 – 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/114528
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