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Silver Hammer Mining Corp. (CSE: HAMR,OTC:HAMRF) (the "Company" or "Silver Hammer") is pleased to announce that the Company has engaged Alford Drilling, LLC of Elko, Nevada to complete the Phase 1 Drill Program for its 100%-controlled Silverton Project in Nye County, Nevada. In addition, the Company has also engaged Modern Land and Development, LCC for site preparation including road work, and drill pad and sump construction. The exploration drill program will be comprised of up to 5,000 feet in up to eight (8) reverse circulation ("RC") holes. The drill program is now planned to commence by the second week of November 2025.
"The Company will finally test below the high-grade Silverton underground workings," commented Peter A. Ball, President & CEO. "It is always an exciting point when you have the opportunity to test below a previously operating high-grade silver mine that closed nearly 80 years ago! The Company is also currently putting together an initial exploration plan to review the Fahey Group Silver Project that was recently acquired in Idaho, and in addition also finalizing the Plan of Operations permitting for the Eliza Project, where multiple historical high-grade silver mines have been awaiting modern day exploration and drilling for over 80 years. It will be a busy year ahead for Silver Hammer and we appreciate our shareholders patience and support."
Silverton Project, Nevada
Silver Hammer has identified several targets at its Silverton Project and currently has multiple drill targets identified. The Company's technical team has ranked and prioritized the key targets at Silverton designed to initially test the mineralized area proximal to, and under, the historic high-grade, near surface mine workings with up to eight (8) RC drill holes, totalling up to 5,000 feet. The drill program is designed to test primarily for down-dip continuity of the high-grade silver mineralization previously mined in the 1930s and 1950s.
Previous Company exploration work, including rock and soil sampling, geologic mapping and satellite imagery, provided evidence for two separate mineralized systems: an eastern, gold-dominant system and a western, silver-dominant system. Prior exploration on the volcanic-hosted, gold system returned grades ranging from 0.06 grams per tonne ("g/t") to 6.1 g/t gold ("Au"). The silver dominated mineral system is hosted by silicified limestone with grades ranging from 0.32 g/t silver ("Ag") to 692 g/t Ag, from Company exploration work (please refer to the Company's press release dated November 29, 2021 for previous disclosure).
Silver was discovered at the Silverton Mine in 1921. Small-scale production is recorded from the 1930s and the mine produced its last shipment in 1953, totalling less than 100,000 tons, with historic production grades ranging from 300 g/t Ag to 933 g/t Ag (Source: westernmininghistory.com and thediggings.com). In addition to the identified 100-foot shaft and underground workings (five known adits), the area to the west and the north of the mine shaft has been the subject of only surface exploration comprised of numerous small test pits and trenches. In-situ rock samples by the Company (chip and channel) returned silver grades, up to 692 g/t Ag, with a further six samples having returned over 100 g/t Ag, from this Central Zone from past mining, pitting and trenching; the Central Zone measures approximately 1,000 feet in diameter (refer to Figure 1).
Figure 1: Silverton Mine, Project Geology and Exploration Map Fall 2025
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The Silverton Mine Silver Project is situated within the Williams Ridge Caldera, near its eastern rim. The caldera is a large-scale structure, over 30 miles in diameter, with ring faults, radial faults and low-angle faults providing ample conduits for hydrothermal solutions following the Tertiary eruption of rhyolitic magmas, forming ash-flow tuffs within the caldera structure. The lithologic unit overlying the caldera magma chamber was thick Devonian sedimentary units, predominantly dolomite, with intercalated arenite, a setting which may be prospective for CRD-type mineral occurrence in the carbonates and epithermal-type in the tuff units.
Alteration noted in area has been mapped as pervasive weak silicification in the Devonian-aged carbonate units and weak argillic in the Tertiary-aged tuffs. Alteration intensifies in two areas of the property, in the vicinity of mapped faults and shears:
- In the western portion of the property, in the Central Zone, in proximity of the intersection of the N-S Silverton and the E-W Basin Faults, silicification comprises veins, zones of stockwork and occurrences of jasperoid with significant silver mineralization — the primary drill target.
- In the eastern portion of the property an area of quartz veinlets and extensive jasperoid alteration with gold mineralization forms a secondary exploration target.
Qualified Person
The scientific and technical aspects of this press release have been reviewed and approved under the supervision of Damir Cukor, P.Geo. Mr. Cukor is a Qualified Person (QP) under National Instrument 43-101 Standards of Disclosure for Mineral Projects and as a consultant for the Company as Technical Director — Projects.
About Silver Hammer Mining Corp.
Silver Hammer Mining Corp. is a junior resource company focused on advancing past-producing high-grade silver projects in the United States. Silver Hammer controls 100% of seven previously producing silver mines which are located within the Silver Strand Project in the Coeur d'Alene Mining District in Idaho, USA, and within the Eliza Silver Project and the Silverton Silver Mine in Nevada. The Company also controls the Fahey Group Silver Project in the Silver Valley, Idaho and the Lacy Gold Project in British Columbia, Canada. Silver Hammer's primary focus is to explore, define and develop silver projects near past-producing mines that have not been adequately tested. The Company's portfolio also provides exposure to copper and gold.
On Behalf of the Board of Silver Hammer Mining Corp.
Peter A. Ball
President & CEO, Director
E: peter@silverhammermining.com
For investor relations inquiries, contact:
Peter A. Ball
President & CEO
778.344.4653
E: investors@silverhammermining.com
Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information in this press release includes, without limitation, statements relating to the Offering, the intended use of proceeds from the Offering, and other statements which are subject to a number of conditions, as described elsewhere in this news release. These statements are based upon assumptions that are subject to significant risks and uncertainties, including risks regarding the mining industry, commodity prices, market conditions, general economic factors, management's ability to manage and to operate the business, and explore and develop the projects of the Company, and the equity markets generally. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance of the Company may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, they can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assume no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.
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