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Drilling Continues to Expand the Brazo Discovery at Silver Dollar's La Joya Project in Durango, Mexico

Further assay results are pending from Phase II drilling, and the Company is fully funded for 2022

Vancouver, British Columbia--(Newsfile Corp. - August 17, 2022) - Silver Dollar Resources Inc. (CSE: SLV) (OTCQX: SLVDF) ("Silver Dollar" or the "Company") is pleased to report the latest assay results from Phase II drilling at the underexplored Noria portion of the La Joya Silver Project (the "Property") located in the state of Durango, Mexico.

Key Highlights:

  • Hole NOR-22-017 returned 1,052 grams per tonne (g/t) silver equivalent AgEQ over 1.87 metres (m).

  • Hole NOR-22-020 returned 662 g/t AgEQ over 2.33 m within a broader intercept of 145 g/t AgEQ over 22.36 m.

A total of 3,428 metres of drilling over 17 holes have been completed to date in Phase II drilling (See drill plan map). Drill core logging and sampling of all holes is complete, and all samples have been submitted for analysis. Assay results for the initial four holes of the Phase II program were previously reported (See: new release of June 13, 2022), and the results reported below are for the next five holes.

Phase II Drilling Objectives and Discussion

Hole NOR-22-016 was drilled in the Brazo Zone 30° steeper below NOR-22-015 to target the area between the silver-zinc and gold zones and was successful in expanding the Brazo Zone at depth (See: cross-section).

Hole NOR-22-017 was drilled to test for mineralization 25 m to the south of the shallow gold zone encountered in NOR-21-004. This hole encountered a 12.87 g/t gold intercept that correlates to one of the gold intercepts in NOR-21-004. (See: cross-section).

Hole NOR-22-018 was drilled in the same section as NOR-21-004 at 15° shallower to target the gold mineralization 35 m and 44 m to the east. This hole missed the target suggesting that if the gold mineralization has continuity, it may dip to the east steeper than the -60° of hole NOR-22-018.

Hole NOR-22-019 was drilled in the Brazo Zone on the same section and 26 m back to target mineralization 40 m down section from NOR-22-016. The Brazo structure is now mineralized over a drilled strike length of 155 m and remains open in both strike directions and at depth (See: cross-section).

Hole-22-020 was drilled in the Brazo Zone to target an extension 35 m to the northwest of the high-grade mineralization intercepted in hole NOR-22-013. This hole cut the same type of skarn alteration and sulphide mineralization (See: cross-section).

"Drilling continues to expand the Brazo Discovery, and we are awaiting results for eight more holes from the Phase II program," said Mike Romanik, president of Silver Dollar. "We have paused further drilling until we receive the balance of the Phase II results, and the drill rig has been left onsite as we plan our next phase of exploration."

Table 1: A summary of the latest downhole drill intersection results for the Phase II program.

Drill Hole
#

From
(m)

To
(m)

Length1 (m)

Ag
(g/t

Au
(g/t)

Cu
%

Pb
%

Zn
%

AgEQ2
(g/t)

NOR-22-016

10.50

13.50

3.00

24.50

0.19

0.03

0.18

2.25

156

"

127.22

137.13

9.91

33.70

0.80

0.47

-

0.03

161

NOR-22-017

130.50

132.37

1.87

21.10

12.87

0.04

-

0.2

1,052

NOR-22-018

206.73

211.23

4.50

28.00

1.26

0.27

-

0.03

165

NOR-22-019

31.88

44.28

12.40

8.00

0.39

0.02

0.04

0.81

81

Including

31.88

33.95

2.07

25.00

1.06

0.02

0.03

0.40

132

NOR-22-019

115.25

162.95

47.70

39.00

0.35

0.11

0.02

0.17

90

Including

132.00

152.43

20.43

65.00

0.44

0.13

0.02

0.04

119

Including

132.00

135.40

3.40

132.00

0.74

0.17

0.02

0.07

218

NOR-22-020

90.76

96.78

6.02

68.10

0.08

0.03

0.25

0.58

115

Including

90.76

91.51

0.75

268.3

0.26

0.07

1.79

3.56

534

NOR-22-020

133.20

134.70

1.50

6.70

0.05

-

-

2.7

140

NOR-22-020

162.34

184.70

22.36

66.8

0.24

0.16

0.22

0.61

145

Including

164.84

167.17

2.33

332.9

0.38

0.11

1.77

4,60

662

  • True widths have yet to be determined.

  • AgEQ in results assume (USD) $1,750 Au and $22 Ag per/oz, and $4.30 Cu, $1.25 Pb, and $1.50 Zn per/lb, and 100% metallurgical recovery.

 

Drill Hole #

Target
Area

X
Collar

Y
Collar

Azimuth

Dip

Hole
Length (m)

NOR-22-016

Noria

608194

2640781.6

65

-75

165

NOR-22-017

Noria

609610

2641234.9

85

-75

210

NOR-22-018

Noria

609610

2641234.6

60

-60

249

NOR-22-019

Noria

608169

2640770.6

65

-72

207

NOR-22-020

Noria

608108

2640688

90

-60

216

 

Procedure, Quality Assurance / Quality Control, and Data Verification

The diamond drill core (HQ size) was geologically logged, photographed, and marked for sampling. Core designated for sampling was sawn in half with a diamond blade core saw. One-half of the core was sealed in plastic bags and shipped for analysis. The remaining half portion was returned to the core trays for storage and/or for metallurgical test work.

The sealed and tagged sample bags were transported to the ActLabs facility in Zacatecas, Mexico where the samples were crushed and 200-300-gram pulp samples prepared with ninety percent passing Tyler 150 mesh (106μm). The pulps were assayed for gold using a 30-gram charge by fire assay (Code 1A2 and/or FA450) and over limits greater than 10 grams per tonne were re-assayed using a gravimetric finish (Code 1A3 and/or FA550). Silver and multi-element analysis was completed using total digestion (Code 1F2 Total Digestion ICP). Over limits greater than 100 grams per tonne silver were re-assayed using a gravimetric finish (Code 8-Ag FA-GRAV Ag).

Quality assurance and quality control ("QA/QC") procedures monitor the chain of custody of the samples and include the systematic insertion and monitoring of appropriate reference materials (certified standards, blanks, and duplicates) into the sample strings. The results of the assaying of the QA/QC material included in each batch were tracked to ensure the integrity of the assay data. All results stated in this announcement have passed Silver Dollar's QA/QC protocols.

Mike Kilbourne, P.Geo., an independent Qualified Person as defined in NI 43-101, has reviewed and approved the technical contents of this news release on behalf of the Company.

About the La Joya Project

The La Joya Property is situated approximately 75 kilometres directly southeast of the state capital city of Durango in a prolific mineralized region with past-producing and operating mines including Grupo Mexico's San Martin Mine, Industrias Penoles's Sabinas Mine, Pan American Silver's La Colorada Mine, and First Majestic's La Parrilla and Del Toro Silver Mines. Silver Dollar previously reported analytical results for its Phase I program that consisted of 2,424 metres of drilling completed over 11 holes (See news releases of March 24, 2022 and May 4, 2022). For additional information on the Property click on the image below to watch the two-minute video.

Figure 1: Click on the image above to view a two-minute video introducing the La Joya Project

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/7232/134018_4db7f02374569966_001full.jpg

About Silver Dollar Resources Inc.

Silver Dollar is a mineral exploration company that completed its initial public offering in May 2020 and is fully funded for 2022 with approximately $8 million in the treasury. The Company's projects are located in two of the prolific mining jurisdictions in the world and include the advanced exploration and development stage La Joya Silver Project in the state of Durango, Mexico; and the discovery-stage Pakwash Lake and the Longlegged Lake properties in the Red Lake Mining District of Ontario, Canada. The Company has an aggressive growth strategy and is actively reviewing potentially accretive acquisitions with a focus on drill-ready projects in mining-friendly jurisdictions internationally.

For additional information, you can download our latest presentation by clicking here and you can follow us on Twitter by clicking here.

ON BEHALF OF THE BOARD

Signed "Michael Romanik"

Michael Romanik,
President, CEO & Director
Silver Dollar Resources Inc.
Direct line: (204) 724-0613
Email: mike@silverdollarresources.com
179 - 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9

Forward-Looking Statements:

This news release may contain "forward-looking statements." Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134018