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Silver Viper Minerals Corp. (TSXV:VIPR) is pleased to announce mobilization of an exploration crew to La Virginia.
Silver Viper Minerals Corp. (the “Company” or “Silver Viper”) (TSXV:VIPR) is pleased to announce mobilization of an exploration crew to La Virginia. The Company plans to commence diamond drilling over key target areas at the La Virginia Gold-Silver Project, located in the Sierra Madre of eastern Sonora state, Mexico. The upcoming program is designed to build on the success of the Company’s previous phase of work and will include drilling at the El Rubi Discovery, a previously undrilled gold-silver bearing target tested for the first time ever by Silver Viper in 2018.
Silver Viper’s first phase drilling program in 2018 at La Virginia included five drillholes at El Rubi, returning a best result of 13.3m core length (estimated true width 6.0m) averaging 3.16g/t gold and 228g/t silver for a gold equivalent1 grade of 6.42g/t gold or silver equivalent1 grade of 449g/t silver (see news release of Jan 14th, 2019). Drilling at El Rubi has encountered mineralization over 100m of strike length. Phase II work is designed to test for the extension of this zone along trend and at depth. The program will provide a systematic test of the structure on 50m sections. With this work, Silver Viper hopes to generate sufficient data points to allow the calculation of a maiden resource estimate at El Rubi. In addition to work at El Rubi, the program will continue to probe prospective targets.
Access trail clearing is complete and camp refurbishment is underway. The newly completed camp will house the drilling crew and geological team for the duration of field operations. In addition to drill testing, fieldwork designed to refine several new targets identified by Silver Viper during project-wide soil sampling is also ongoing. Project-scale surface exploration undertaken by Silver Viper has identified soil anomalies which indicate the continuation of the main trend to the north, and appear to define a mineralized trend east of, and parallel to, that main trend.
Silver Viper’s President and CEO Steve Cope states, “Initiation of our second phase drilling is a priority and we are extremely happy to announce that crews are onsite and preparing for the upcoming work. We are especially excited to build upon the El Rubi discovery by stepping out along strike and down dip. Our program will also include drill testing of anomalies generated by our exploration team in the hope of making new discoveries on these previously unidentified and untested targets.”
Since acquiring the project, Silver Viper has completed diamond drilling on five target areas totaling 4,753m in 20 drill holes and completed regional exploration programs of stream sediment sampling, geological/prospecting traverses and soil sampling. The regional program to date has resulted in the collection of over 1,600 soil samples and rock chip samples across the largely unexplored property. Drilling by the Company to date builds upon a sizeable database including 52,635m of drill core from 188 diamond drillholes generated by the efforts of previous operators between 2010 and 2013. Silver Viper is expanding upon this work by continuing exploration northward into prospective untested ground.
1 Gold and Silver Equivalent values were calculated using an Au:Ag ratio of 70:1, for example, Gold Equivalent = Au grade + (Ag grade / 70), Silver
Equivalent = Ag grade + (Au grade x 70).
About the Project
La Virginia is located 220km east-northeast of Hermosillo, Sonora. It is a large exploration property, primarily prospective for fault-controlled, low-sulphidation epithermal precious metal mineralization. The property and historical exploration database were acquired by way of option agreements made with two distinct parties. Gold and silver mineralization at La Virginia occurs within breccias, veins and stockworks hosted primarily by andesitic volcanics, often in close spatial association to or cross-cutting pre-mineral dacite dykes and controlled by fractures and faults that define the regional structural trend. Originally 37,700 hectares in size, Silver Viper’s reconnaissance program has identified key targets and trends which are of primary interest. The Company has filed reductions of the large concessions to better focus efforts on the high priority trends.
QA/QC
Analytical results herein represent samples of halved diamond drill core submitted by Silver Viper staff directly to Bureau Veritas, Hermosillo, Sonora, Mexico. Samples were crushed, split and pulverized as per Bureau Veritas method PRP70-250, then analysed for gold by lead collection fire assay fusion on a 30g split with AAS finish, and for a multi-element suite including silver by multi-acid digestion with ICP-ES/MS finish. Samples triggering precious metal over-limit thresholds of 10g/t Au or 200g/t Ag were retested by lead collection fire assay fusion with a gravimetric finish. Silver Viper monitors QA/QC using commercially sourced standards and locally sourced blank materials inserted within the sample sequence at regular intervals.
Dale Brittliffe, P.Geo., Vice President of Exploration is the ‘Qualified Person’ under National Instrument 43-101 and has approved the scientific and technical information contained in this news release.
About the Company
Silver Viper Minerals Inc is a Canadian-based junior mineral exploration company focused on precious metals exploration in the northwestern Mexican state of Sonora. The Company currently operates the La Virginia Gold-Silver Project. Silver Viper has 100% ownership of the La Virginia concessions recently acquired from Pan American Silver Corp. and has an option to acquire a 100% interest in the Rubi-Esperanza group of claims internal to those concessions. The property was most recently operated by Pan American Silver. Silver Viper is under management provided by Belcarra Group Management Ltd., which is comprised of highly qualified mining professionals.
On behalf of the board of directors,
Steve Cope
President and CEO
Forward Looking Information
Information set forth in this press release contains forward-looking statements. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to exploration and development, the ability of the Company to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in the prices of commodities, operating hazards and risks, competition and other risks and uncertainties, including those described in the Company’s financial statements available on www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
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 OR ACCURACY OF THIS RELEASE.
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