Precious Metals

Fabled Silver Gold Corp. announces the results of surface diamond drilling from the upgraded 14,400 -meter drill program on the "Santa Maria" Property in Parral, Mexico Peter J. Hawley, CEO and President, remarks, "Planned definition holes SM20-42 was designed to fill in a drill poor gap just to the west of the resources as seen below in Figure 1. Figure 1 - Longitudinal View of Area of Current Drilling SM20-42 ...

Fabled Silver Gold Corp. ("Fabled" or the "Company") (TSXV:FCO)(OTCQB:FBSGF)(FSE:7NQ) announces the results of surface diamond drilling from the upgraded 14,400 -meter drill program on the "Santa Maria" Property in Parral, Mexico

Peter J. Hawley, CEO and President, remarks, "Planned definition holes SM20-42 was designed to fill in a drill poor gap just to the west of the resources as seen below in Figure 1.

Figure 1 - Longitudinal View of Area of Current Drilling

SM20-42

Definition Diamond Drill Hole SM20-42 was drilled at a dip or angle of -69 degrees for a total drilled length of 221 meters and designed to hit the targeted zone at -200 meters below surface.

The hole was successful in intercepting 6 gold bearing zones of interest, see Figure 2, Table 1 and Photos 1, 2 and 3 below.

Figure 2 - Cross Section Diamond Drill Hole SM20-42

The first intercept of interest, which was near surface, began at 7.80 meters and returned 3.17 meters grading 142.70 Ag Eq with 0.49 g/t Au. This section also contained a higher-grade portion of 1.20 meters grading 257.81 g/t Ag Eq with 0.91 g/t Au.

See Figure 2 above, Table 1 and Photo 1 below.

Photo 1 - SM20-42 Drill Core

From 54.70 - 56.40 an oxidized quartz vein was intercepted, and the 1.70-meter vein reported 249.12 g/t Ag Eq with 0.43 g/t Au. See Figure 2 above, Table 1 and Photo 2 below.

Photo 2 - SM20-42 Drill Core

A weak breccia zone encountered from 140.10 - 141.00 returned 29.18 g/t Ag Eq with 0.40 g/t Au.

Further down the hole, from 180.00 - 181.10 the upper contact of the targeted Santa Maria structure breccia was encountered which reported 56.50 g/t Ag Eq.

The mineralized unit was invaded by a barren younger tertiary basaltic dike. From 181.00 - 185.30, See Figure 2 above and Photo 3 below.

From the lower contact of the young dike at 185.30, a 11.50-meter interval of the remaining Santa Maria Structure consisting of medium fractured, highly altered, laminar limestone with reddish oxidized minerals was intercepted followed by hydrothermal breccia to the depth of 207.20 meters. Intercepts of interest encountered are as follow; 0.70 meters on the lower contact reported 33.29 g/t Ag eq.

See Figure 2 above, Table 1 and Photo 3 below.

Photo 3 - SM20-42 Drill Core

From 197.4 - 207.20 meters an oxidized hydrothermal breccia was encountered and returned 33.52 g/t Ag Eq on the upper contact, 1.40 meters grading 45.82 g/t Ag Eq with 0.64 g/t Au in the middle of the zone and 0.90 meters grading 121.03 g/t Ag Eq with 0.37 g/t Au over 0.90 meters on the lower contact.

Table 1- SM20-42 Drill Hole Assay Results

Drill Hole

From m

To

m

Width m

Au g/t

Ag g/t

Ag Eq* g/t

Pb %

Zn %

Cu %

SM20-42

7.80

11.50

3.70

0.49

117.49

142.70

0.05

0.09

0.00

Including

7.80

9.00

1.20

0.91

211.00

257.81

0.09

0.11

0.01

54.70

56.40

1.70

0.43

227.00

249.12

0.09

0.28

0.01

117.00

126.00

9.00

0.43

16.85

38.97

0.03

0.10

0.04

Including

117.00

118.50

1.50

0.62

51.45

83.34

0.10

0.44

0.02

Including

120.00

121.5

1.50

0.41

12.60

33.69

0.01

0.02

0.00

Including

123.00

124.50

1.50

0.46

7.40

31.06

0.00

0.02

0.00

Including

124.50

126.00

1.50

0.51

6.00

32.23

0.01

0.02

0.00

140.10

141.00

0.90

0.40

8.60

29.18

0.00

0.01

0.00

142.50

144.50

2.00

0.25

6.40

19.26

0.00

0.01

0.00

150.00

151.50

1.50

0.37

3.80

22.83

0.01

0.01

0.00

180.00

207.20

27.20

0.15

17.57

25.29

0.04

0.12

0.00

Drill Hole

From m

To

m

Width m

Au g/t

Ag g/t

Ag Eq* g/t

Pb %

Zn %

Cu %

Including

180.00

181.10

1.10

0.28

42.10

56.50

0.03

0.07

0.01

Including

185.70

186.40

0.70

0.20

23.00

33.29

0.05

0.16

0.00

Including

187.40

189.00

1.60

0.27

9.80

23.69

0.04

0.13

0.00

Including

197.40

198.60

1.20

0.29

18.60

33.52

0.03

0.07

0.01

Including

198.60

205.00

6.40

0.25

33.60

46.46

0.07

0.13

0.01

Including

198.60

200.00

1.40

0.64

12.90

45.82

0.02

0.06

0.01

Including

204.10

205.00

0.90

0.37

102.00

121.03

0.23

0.24

0.01

  • ** Ag Equivalent ("Ag Eq") grade is calculated using $20 per ounce Ag and $1,600 Au

Summary

Hole SM20-42 was successful in providing valuable information in this drill poor area and from a shallow intercept starting at 7.80 meters intercepted 6 zone of interest.

All recent drill results are presently being compiled. This not only includes the assay data but also structures intercepted, mineralized sheeted veins in dikes and related breccias will provide a comprehensive detailed view of this section and should provide high value material for resource consideration and maybe applied to other parts of the property. See Figure1 above.

Definition drill hole SM20-43, located approximately 200 meters east of hole 42, will in fill the drill poor data in the resource area of the deposit. See Figure 3 below.

QA QC Procedure

Analytical results of sampling reported by Fabled Silver Gold represent core samples that have been sawn in half with half of the core sampled and submitted by Fabled Silver Gold staff directly to ALS Chemex, Chihuahua, Chihuahua, Mexico. Samples were crushed, split, and pulverized as per ALS Chemex method PREP-31, then analyzed for ME-ICP61 33 element package by four acid digestion with ICP-AES Finish. ME-GRA21 method for Au and Ag by fire assay and gravimetric finish, 30g nominal sample weight.

Over Limit Methods

For samples triggering precious metal over-limit thresholds of 10 g/t Au or 100 g/t Ag, the following is being used:

Au-GRA21 Au by fire assay and gravimetric finish with 30 g sample.

Ag-GRA21 Ag by fire assay and gravimetric finish.

Fabled Silver Gold monitors QA/QC using commercially sourced standards and locally sourced blank materials inserted within the sample sequence at regular intervals

About Fabled Silver Gold Corp.

Fabled is focused on acquiring, exploring and operating properties that yield near-term metal production. The Company has an experienced management team with multiple years of involvement in mining and exploration in Mexico. The Company's mandate is to focus on acquiring precious metal properties in Mexico with blue-sky exploration potential.

The Company has entered into an agreement with Golden Minerals Company (NYSE American and TSX: AUMN) to acquire the Santa Maria Property, a high-grade silver-gold property situated in the center of the Mexican epithermal silver-gold belt. The belt has been recognized as a significant metallogenic province, which has reportedly produced more silver than any other equivalent area in the world.

Mr. Peter J. Hawley, President and C.E.O.
Fabled Silver Gold Corp.
Phone: (819) 316-0919
peter@fabledfco.com

For further information please contact:
info@fabledfco.com

The technical information contained in this news release has been approved by Peter J. Hawley, P.Geo. President and C.E.O. of Fabled, who is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Neither the TSX Venture Exchange nor its Regulations Service Provider (as that term is defined in the policies of the TSX Venture Exchange) does accept responsibility for the adequacy or accuracy of this news release.

Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains any required regulatory approvals.

Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; industry conditions, including fluctuations in commodity prices; governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in mining operations; changes in tax laws and incentive programs relating to the mining industry; as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

SOURCE: Fabled Silver Gold Corp



View source version on accesswire.com:
https://www.accesswire.com/675188/Fabled-Definition-Drilling-to-the-East-Hits-Near-Surface-Mineralization-with-25781-gt-Ag-Eq-over-120-meters-in-Broader-37-Meter-Zone

News Provided by ACCESSWIRE via QuoteMedia

Fabled Silver Gold

Fabled Silver Gold

Overview

Mexico produces more silver than any other country in the world, and the city of Parral in Chihuahua, Mexico, is exceptionally special. After the discovery of silver in 1631, San José de Parral was established as a mining town and later declared “the capital of the silver world” by King Philip IV of Spain. The district continues to be a significant center for silver mining and presents companies operating in the area with a world-class opportunity for silver discovery and high-quality exploration.

Fabled Silver Gold (TSXV:FCO,FWB:7NQ,OTCQB:FBSGF) is focused on acquiring, exploring and developing properties that yield high-grade, near-term metal production. It is currently operating its high-quality Santa Maria silver-gold project in Parral, Mexico.

santa_maria_project

CEO Peter Hawley, an industry titan with more than 35 years in the industry overseeing exploration, development and production, officially came out of retirement to oversee the early stages of growth and development for Fabled Silver Gold and its ongoing projects.

The city of Parral in Chihuahua, Mexico has a rich mining history and has produced over 250 million ounces of silver to date. Operating out of this district strategically positions Fabled Silver Gold to leverage its mining-friendly conditions, and the company has built strong community relationships.

The Santa Maria silver-gold project hosts a strong foundation for growth. All 21 veins discovered to date are on surface and open on strike and at depth have the potential for expansion and deep exploration. The project site has significant infrastructure, including access to paved and dirt roads and grid power.

In March 2021, Fabled announced its trading commencement on the OTCQB Venture Marketplace. This graduation demonstrates its fast-growing potential as a serious contender in the silver mining space and exposes the company to a much broader range of US investors.

The next steps for the company include an 8,000 meter drilling program over the Santa Maria property. The company has already published five drill hole results of the approximately 30 intended for drilling. With additional sampling, geophysics and exploration, the project could see similar success to neighboring deposits such as Silver Crest’s early-stage Las Chispas project.

The Fabled Silver Gold management team brings together a proven track record of success in technical experience, local expertise and capital markets. Their experience and dedication to the Santa Maria project prime the company for significant high-grade silver discovery and economic growth.

Fabled Silver Gold’s Company Highlights

  • Fabled Silver Gold is a mineral exploration company focused on exploring, acquiring and developing high-quality and near-term metal projects.
  • The company’s flagship Santa Maria silver-gold project leverages the mining-friendly conditions of the Parral jurisdiction in Mexico. The prolific district hosts a rich mining history and widespread high-grade silver mineralization.
  • Santa Maria presents the company with an option for 100 percent ownership. The projects’ unique structure and vein system opens the possibility for expansion and silver discovery with an extensive drilling campaign currently in the works.
  • The property hosts a NI 43-101 resource of 3.24 million ounces of indicated and 1.1 million ounces of inferred silver equivalent mineralization. It has favorable epithermal veining, and 21 veins have been discovered to date at surface level.

Fabled Silver Gold’s Key Projects

Santa Maria Project

The Santa Maria gold-silver property is situated in the center of the Mexican epithermal silver-gold belt in the mining-friendly Parral district in Chihuahua, Mexico. The district hosts multiple major operators in the vicinity and has excellent infrastructure, including accessible roadways, grid power and skilled labor networks. Fabled has the option to own 100 percent of the property from Golden Minerals Company (TSX:AUMN,NYSEAMERICAN:AUMN).

The property hosts a high-grade silver-gold mine with a robust vein system. Twenty-one veins have been discovered to date on surface level and all veins appear to be open on strike and at depth. Additionally, surface samples from 14 veins show elevated gold and silver values, with the remaining veins never sampled.

santa_maria_project

In March 2021, the company completed six diamond drill holes with assay results reporting five silver-bearing north to south structures. Mineralized grades from this campaign returned 1.40 g/t gold, 862 g/t silver and 934.02 g/t silver equivalents.

The project presents Fabled with immense discovery opportunity, and has an existing NI 43-101 resource of 3.2 million ounces of indicated and 1.1 million ounces of inferred silver equivalent mineralization. The unique ore body structure and identified anomalies make this project all the more special. Advancement of drilling and expanded exploration efforts are in the works for Santa Maria.

Fabled Silver Gold’s Management Team

David Smalley, BA, LLB — Chairman of the Board

David Smalley is a corporate finance and securities lawyer who has practiced for 28 years. He has been a director and officer of public companies for over 19 years. Smalley was one of the founders of Canaco Resources.

Peter Hawley, BSc, PGeo — CEO, President & Director

Peter Hawley is the co-founder of Fabled Silver Gold Corp, then Fabled Copper, as well as founder of Scorpio Mining Corporation, renamed Americas Gold and Silver Corporation. Hawley is also the co-founder of Niogold Resource Corp and has over 35 years of mining industry experience that spans grassroots exploration through to development and production.

Luc Pelchat — Director

Luc Pelchat is the founder and president of the Canadian Chamber of Commerce in North Mexico. Following 24 years with a Canadian multinational company operating in the construction industry, Pelchat formed many of his own companies and has realized multiple projects in the construction industry in Mexico. He has extensive business, financial and human resources experience in Canada, Mexico and Africa. Pelchat is currently a director of Scorpio Gold Corp, listed on the TSX Venture Exchange.

Michael Harrison — Director

Michael Harrison was previously an investment banker and CDO for Planvest Capital in Vancouver from 1987 to 1992. After, he was the CDO of Biocoll Medical., a biotech company that successfully commercialized its technology and divested it to GenSci Regeneration Sciences Inc. From 2016 to 2020, Harrison was the Chairman, CEO and founder of Pebble Labs in Los Alamos, New Mexico, and he is currently the CEO of Batik Resources Inc., a junior exploration company interested in gold mining in Indonesia.

Keep reading... Show less
barrels of  oil and gold coins on keyboard

Top Stories This Week: Gold Nears US$1,850, "Everything Looks Good" in Oil and Gas

Top Stories This Week: Gold Nears US$1,850, "Everything Looks Good" in Oil and Gas youtu.be

It was a week of upward momentum for the gold price, which took off mid-week, briefly passing US$1,846 per ounce after going as low as U$1,810 earlier in the period.

The metal was around US$1,830 at the time of this writing on Friday (January 21) afternoon.

Industry commentators have explained gold's increase by pointing to a slew of factors, including weakness in the US dollar and lower 10 year Treasury yields, along with a correction in the NASDAQ Composite (INDEXNASDAQ:.IXIC) that left the index down over 10 percent from its November high.

Keep reading... Show less

Kibali Delivers Another Stellar Performance and Expects to Grow Its Mineral Reserves Net of Depletion

All amounts expressed in US dollars

Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) The Kibali gold mine produced a total of 812,152 ounces 1 well within guidance for 2021, and expects to increase its mineral reserves net of depletion for the third successive year, maintaining its plus 10-year life as one of Barrick Gold Corporation's Tier One 2 assets.

Keep reading... Show less
New Orogenic Gold Discovery by Goldplay at Goldstorm South Project, BC Returns 21.8 g/t Au

New Orogenic Gold Discovery by Goldplay at Goldstorm South Project, BC Returns 21.8 g/t Au

Goldplay Mining Inc. (TSXV:AUC)(OTCQB:AUCCF)(Frankfurt:9FY), (the "Company" or "Goldplay"), is pleased to announce results from its 2021 field program on the Goldstorm South Project ("Goldstorm South" or the "Project"), formerly referred to as the Niut Mountain Project, located within 4 km from road access and 20 km southeast of White Saddle Air Services Ltd.'s permanent helicopter base in the western Chilcotin District of southwestern British Columbia

HIGHLIGHTS

Keep reading... Show less
Red Pine Extends Mineralization 140 m Down-Dip of the Current Surluga Resource

Red Pine Extends Mineralization 140 m Down-Dip of the Current Surluga Resource

Red Pine Exploration Inc. (TSX-V: RPX) ("Red Pine" or the "Company") is pleased to report drilling results from its 2021 drilling program. Hole SD-21-308 discovered significant mineralization 140 m down-dip of the resource boundary in the northern part of the Surluga deposit in the Jubilee Shear Zone. This new zone, starting at approximately 240 metres vertical depth and named the Surluga North Discovery, has the potential to expand the current resource of the Surluga Deposit at the Wawa Gold Project.

Highlights of the on-going drilling program ( Figure 1 )

Keep reading... Show less
TDG Gold Corp. Samples Up To 32.9 g/t And 27.6 g/t Gold at Mets, Toodoggone, B.C.

TDG Gold Corp. Samples Up To 32.9 g/t And 27.6 g/t Gold at Mets, Toodoggone, B.C.

TDG Gold Corp. (TSXV:TDG) (the "Company" or "TDG") is pleased to announce the results of the 2021 exploration program at its former producing high-grade gold Mets Mining Lease located in the road accessible Toodoggone Production Corridor of north-central, B.C. Highlights include grab samples yielding 32.90 grams per tonne ("gt") gold ("Au") and 27.61 gt Au collected from locations of known historical drill collars (Table 1

TDG's Mets Mining Lease consists of 200 hectares located 23 kilometres ("km") by road from TDG's Baker Mine (Figure 1). A summary of historical exploration work completed at Mets was published by TDG in its news release dated May 19, 2021 (here). TDG has recompiled 7,944 metres ("m") of diamond drilling of the 8,784 m reported to have been drilled historically, along with review of the 2,622 m of historical trenching. Historical drill highlights include DDH MT86-08 which intersected 25.9 m of 9.52 g/t Au and MT86-05 intersecting 46.4 m of 3.57 g/t Au (including 11.8 m of 13.93 g/t Au).

Keep reading... Show less
Golden Independence Announces Management Change

Golden Independence Announces Management Change

Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) (the "Company" or "Golden Independence") announces that Christos Doulis has resigned as the Chief Executive Officer and a director of the Company effective January 20, 2022 to pursue other endeavours. Jeremy Poirier, a director of the Company, has been appointed as Interim Chief Executive Officer until a suitable permanent replacement is located.

"Christos has been instrumental in the advancement of Independence Project and, specifically, in the recent formation of the joint venture with America's Gold Exploration Inc. to develop the project. The board would like to sincerely thank Christos for his significant contributions to the Company and wish him well in his future endeavours," commented Jeremy Poirier, Interim Chief Executive Officer.

Keep reading... Show less

Latest Press Releases

Related News

×