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Silver Viper Minerals Corp (TSXV:VIPR) is pleased to provide a tabulation of significant intercepts contained within a historical database from exploration on La Virginia. In December 2018, Silver Viper signed a Definitive Agreement with Pan American Silver Corp (PAAS) (TSX:PAAS) on the La Virginia group of claims (see news release dated December 17, 2018).
Silver Viper Minerals Corp (TSXV:VIPR) is pleased to provide a tabulation of significant intercepts contained within a historical database from exploration on La Virginia. In December 2018, Silver Viper signed a Definitive Agreement with Pan American Silver Corp (PAAS) (TSX:PAAS) on the La Virginia group of claims (see news release dated December 17, 2018). Upon signing the agreement, Silver Viper assumed ownership of three prospective mineral concessions (La Virginia claims) and acquired a significant project exploration database previously generated by PAAS and its subsidiaries. Highlights from the database not previously reported follow in the table below.
Silver Viper took the data into account when planning its 2018 program, which achieved 4,753 metres in 20 diamond drill holes and tested five prospect areas. Limited confirmation drilling was completed at the Las Huatas and Con Virginia prospects. These holes were drilled to test gaps in the known data. Previously undrilled prospects Huarache, La Gloria and El Rubi were also tested in 2018. To date, the Company has released results for the confirmation drilling at Las Huatas. Subsequent results and a discussion of the 2018 program and plans for 2019 are scheduled for release in the near future.
Drilling data contained within the package was collected originally by Minefinders Corporation Ltd (Minefinders) on the Rubi-Esperanza claims internal to PAAS mineral concessions. That company regularly disclosed exploration results and progress reports up to and including hole LV11-050 (Minefinders news release October 17, 2011). Following the announcement of a takeover bid by PAAS, public disclosure of the La Virginia program ceased, while exploration activities continued, operated first by Minefinders, then by PAAS until work paused in mid-2013.
The Rubi-Esperanza group totals 2,102 hectares in three claims and is currently under option by Silver Viper (see news release dated June 25th, 2018). The Rubi-Esperanza group and three claims acquired by way of the recent PAAS agreement, are collectively referred to as the La Virginia Gold-Silver Project.
The historical exploration database includes drilling data from 52,635 metres in 188 diamond drill holes completed between 2010 and 2013. Also contained within the database are 22,553 individual multi-element analyses and fire assay results, supported by QA/QC, consisting of regularly inserted standards and blanks. To date, results from 138 drill holes had yet to be publicly disclosed. The results, now part of the accumulated La Virginia dataset, may be considered material to Silver Viper’s exploration effort. A tabulation of significant intercepts has been presented below.
Historical drill core, laboratory sample rejects and pulps are securely stored by PAAS in Hermosillo and several visits to this facility were made by Silver Viper staff during 2018. Numerous drill holes were reviewed as Silver Viper staff familiarized themselves with the database and historical logging. A series of random drill holes were subject to check analyses using an in-house portable XRF unit to the satisfaction of the Company. Silver Viper considers the data reliable and of a suitable standard to provide direction for ongoing exploration activities and as a guide to expected tenor and length of intercepts at this project. The Company recognizes the need for a comprehensive QA/QC program including analysis of sample pulps and quartering of core, as necessary to ensure a level of confidence for use in any future resource calculations.
Results detailed below are presented by prospect and represent intervals from 3.0 km along strike along the main trend. For a map showing the relative locations of each prospect, see the Silver Viper website, https://silverviperminerals.com/projects/la-virginia/.
Significant Intercept tables generated from historical database – Hole 50 onward
*True widths are not stated, estimated to average 75-80% of drill interval length
+Gold equivalents calculated using a long term silver to gold ratio of 70:1 using the formula (Au grade) + (Ag grade/70)
Silver Viper’s President and CEO Stephen Cope states, “We are happy to finally share with the market some of the historic assays that attracted our interest to this project. These results come from a small portion of the La Virginia land package. While these occurrences are very interesting by themselves, we look toward making new discoveries on the untested targets to unlock the true potential of this project.”
Dale Brittliffe, P.Geo., Vice President of Exploration is a ‘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 northwestern Mexican state of Sonora. The Company currently operates the La Virginia Gold-Silver Project. Silver Viper is entitled to 100% ownership of the La Virginia concessions recently acquired from PAAS 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 PAAS and is an early stage exploration property, targeting a series of laterally extensive intrusive dykes and breccia zones, hosting low-sulphidation epithermal gold-silver mineralization. Silver Viper is under management provided by Belcarra Group Management Ltd. which is composed 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 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.
For further information: please contact Silver Viper Minerals Corp. at (604) 687-8566, email info@silverviperminerals.com or visit our website at www.silverviperminerals.com
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Source: www.newswire.ca