investors underground

Fabled Underground Diamond Drilling Continues To Intercept Multiple Zones Of Silver Mineralization, Including; 223.79 g/t Ag Eq over 3.00 meters

 

Fabled Silver Gold Corp. ("Fabled" or the "Company") (TSXV:FCO)(OTCQB:FBSGF), and (FRA:7NQ) is pleased to announce results of underground diamond drilling from the 1,200-meter underground drill program on the "Santa Maria" Property in Parral, Mexico

 

Preamble
As mentioned previously, underground drilling is currently taking place from drill stations in the ramp, or in mined out areas, where bulk samples were taken by previous property holders. Unfortunately, the ramp was centered down the Santa Maria vein to access mineralized material as they advanced the ramp. This has resulted in the higher-grade portion of the Santa Maria Vein being absent from the beginning of most of the drill holes.

 

This begs the question that, if this is the case, what is the purpose of drilling? We know from previous holes drilled in this program, that the Santa Maria vein and Santa Maria Dos veins are the footwall and hanging wall of a mineralized structure and the purpose of the program is to determine the widths of this structure. As the ramp is restrictive, useful available drill locations will become sparser, and therefore the Company is planning to establish new "proper" drill bays for future holes, see Figure 1.

 

Figure 1 - Longitudinal View of Area of Current Underground Drilling

 

Drill holes SMUG21-04, 5, 6 were all drilled from the same drill station and were collared approximately 75 meters east of drill station 03 and designed to test the extent of the Santa Maria Dos footwall mineralization.

 

Drill hole SMUG21-04 was drilled at a dip of -30 degrees and was successful in intercepting three zones of silver mineralization. From the beginning or the collar of the hole, 9.0 meters of silver mineralization was found, including 4.50 meters grading 147.19 g/t Ag Eq. This is part of the mineralized foot wall of the Santa Maria vein. Further on, a 5.40 meters silver bearing breccia zone was encountered reporting 50.09 g/t Ag Eq, and at the hanging wall of the structure or the location of the Santa Maria Dos vein 2.2 meters was intercepted grading 127.66 g/t Ag Eq.

 

Table 1- Drill hole SMUG 21- 04 Assay Results

 
                                                  

Drill Hole

From m

 

To

 

m

 

Width m

Au g/t

Ag g/t

AgEq* g/t

Pb %

Zn %

Cu %

SMUG21-04

0.00

9.00

9.00

0.10

50.00

55.14

0.02

0.09

0.00

Including

4.50

6.00

1.50

0.06

144.00

147.19

0.01

0.11

0.01

SMUG21-04

43.50

48.90

5.40

0.41

29.00

50.09

0.01

0.05

0.00

SMUG21-04

81.00

83.20

2.20

0.11

122.00

127.66

0.06

0.26

0.01

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

Drill hole SMUG21-06 as drilled at a dip of -45 degrees and again was successful in the interception of a 3.70 meter breccia zone, which included 0.70 meters 0f 102.89 g/t Ag Eq and the hanging wall structure, which reported 95.58 g/t Ag Eq over 2.90 meters including 194.76 g/t Ag Eq over 1.15 meters.

 

Table 2- Drill hole SMUG 21- 06 Assay Results

 
                                                  

Drill Hole

From m

 

To

 

m

 

Width m

Au g/t

Ag g/t

AgEq* g/t

Pb %

Zn %

Cu %

SMUG21-06

80.30

84.00

3.70

0.18

25.90

38.95

0.01

0.09

0.00

Including

83.30

84.00

0.70

0.27

88.20

102.29

0.02

0.11

0.00

SMUG21-06

103.25

106.15

2.90

0.06

92.70

95.58

0.02

0.04

0.00

Including

103.25

104.40

1.15

0.07

191.00

194.76

0.03

0.06

0.01

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

Figure 2 - Cross Section for Drill Holes SMUG21-04, 06

 

Peter J. Hawley, CEO and President, remarks, "The results of SMUG21-04 - 06 inclusively, continues to further define and refine the hanging wall zones of silver mineralization in the Santa Maria Structure."

 

As the ramp increases in depth, we expect the near surface lower grade oxide component to decrease, and start to see some supergene enrichment at the contact between oxides and sulphides.

 

Underground drill hole SMUG21-05 was drilled on a different azimuth or direction than holes SMUG20-04 and SMUG20-06 at -20 degrees dip. Once again, we successfully intercept silver mineralization on the hanging wall structure that reported 150.33 g/t Ag Eq over 4.8 meters and which contained a higher-grade section of 3.0 meters of 223.79 g/t Ag Eq.

 

Table 3- Drill hole SMUG21-005 Assay Results

 
                              

Drill Hole

From m

 

To

 

m

 

Width m

 

Au

 

g/t

 
 

Ag

 

g/t

 

AgEq* g/t

 

Pb

 

%

 
 

Zn

 

%

 
 

Cu

 

%

 

SMUG21-005

87.0091.804.801.2088.60150.330.010.050.00
Includes87.0090.003.001.94124.00223.790.020.070.00
 
  • ** Ag Equivalent ("Ag Eq") grade is calculated using $20 per ounce Ag and $1,600 Au

Figure 3 - Cross Section for Drill Hole SMUG21-005

 

FUTURE UNDERGROUND DRILLING UPDATE
As mentioned in the preamble drill site space becomes more confined in areas due to the nature of the exploration ramp being driven down the mineralized Santa Marie footwall structure.

 

SMUG20- 7-10, inclusive were abandoned due to either hitting a void from previous bulk samples taken or deviation. Holes SMUG20- 11 and 12 have been completed and submitted for assay while SMUG20-13 is in progress.

 

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 (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/658101/Fabled-Underground-Diamond-Drilling-Continues-To-Intercept-Multiple-Zones-Of-Silver-Mineralization-Including-22379-gt-Ag-Eq-over-300-meters

News Provided by ACCESSWIRE via QuoteMedia

The Conversation (0)
Gold bars with text: "5 Top Canadian Mining Stocks This Week."

Top 5 Canadian Mining Stocks This Week: Avanti Gold Gains 158 Percent on Misisi Settlement

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

Statistics Canada released its June Labour Force Survey on Friday (July 11). The data indicated that 83,000 new jobs were added to the workforce, led by 34,000 new employees in the wholesale and retail trade category and a 17,000 worker rise in the healthcare and social assistance category.

In other positive news for the Canadian job market, the overall employment rate rose by 0.1 percent to 60.9 percent, while the unemployment rate declined by 0.1 percent to 6.9 percent.

Keep reading...Show less
Gold bar on nuggets with "5 Top Australian Mining Stocks" text overlay.

Top 5 Australian Mining Stocks This Week: Yandal Shares Double on Arrakis Drilling Results

Welcome to the Investing News Network's weekly round-up of Australia’s top-performing mining stocks on the ASX, starting with news in Australia's resource sector.

This week's top-performing stocks list is dominated by oil and gas companies, alongside gold and lithium companies.

In Australian mining news, the Fair Work Commission ruled that BHP (ASX:BHP,NYSE:BHP,LSE:BHP) must raise the wages of 2,200 workers at three coal mines in Queensland. The workers in question were employed indirectly through a hiring firm and were being paid significantly less than their peers working directly under BHP.

The case was brought by two worker's unions and based on the Same Job, Same Pay reforms made by the government last year. To align wages, the FWC ruled BHP must raise the labour hire employees' wages by AU$30,000 each.

Keep reading...Show less
Pilbara region, Western Australia, Australia.

Pilbara 2.0: Inside Australia’s Newest Gold Frontier

The Central Pilbara region of Western Australia is undergoing a quiet revolution that is rapidly reshaping the global gold exploration landscape.

Once dismissed as a technically challenging and geologically inconsistent terrain, Pilbara is now emerging as one of the world’s most exciting new gold frontiers and drawing serious attention from institutional investors, driven by transformative discoveries, a maturing geological model and a wave of junior explorers tapping into underexplored intrusive-hosted systems.

Anchored by the multimillion-ounce Hemi discovery — one of the most significant gold finds in Australia in over a decade — this region is not just proving its geological potential, but also demonstrating the kind of scale, consistency and margin profile that modern gold investors seek. As the discovery window remains wide open and valuations are still accessible, the Central Pilbara presents a rare opportunity for early exposure to what may become one of Australia’s next tier-one gold districts.

Keep reading...Show less
A mining truck within the outline of Australia's map on a clear day.

Is Australia on the Brink of a New Mining Super Cycle?

Mining remains as a cornerstone of Australia’s GDP and export earnings, but current global challenges such as trade disputes and price changes may be straining its foundations.

A recent FocusEconomics report tackled Australia’s resource wealth, tracing from the gold rushes of the 1850s to the iron ore and coal booms of the 21st century.

Keep reading...Show less
Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

 
  •   High-grade gold intercepts highlighted by 15.5 m at 2.30 g/t Au, incl. 8.3 m at 3.43 g/t Au at the Road Cut Zone  
  •  
  •   Initial drilling on the gap between Jagger and Road Cut Zone confirms target structure, warrants further testing  
  •  
  •   Current drill phase complete; Geological modelling and planning underway for 15,000 m drill program expected to begin in H2 2025  
  •  

 

 Kobo Resources Inc. (" Kobo" or the " Company ") ( TSX.V: KRI ) is pleased to report additional diamond drill results from the Road Cut Zone at its 100%-owned Kossou Gold Project (" Kossou ") in Côte d'Ivoire. Results from these holes continue to strengthen the Company's understanding of the key structural controls that define this prospective target area.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×