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The Company is fully funded for 2022 exploration
Vancouver, British Columbia--(Newsfile Corp. - January 13, 2022) - Silver Dollar Resources Inc. (CSE: SLV) (OTCQB: SLVDF) ("Silver Dollar" or the "Company") is pleased to report that exploration drilling has recommenced at the La Joya silver property (the "Property") located in the state of Durango, Mexico (See Figure 1).
The initial drilling program is focused on the Noria portion of the Property with an emphasis on target development and testing for possible structural extensions of known mineralized zones identified in historical drilling. A total of 1,134 metres of core drilling was completed over five holes before the Christmas break (See news release of December 22, 2022) and sample results from those holes will be reported as they are received.
Figure 1: Click on the image above to view a two-minute video introducing the La Joya Project
If you cannot view the video above, please visit:
Image Source: https://silverdollarresources.com/images/LaJoya/LaJoya-3.jpg
The first two drill holes of 2022 are planned at the Coloradito area of the Property to test for deeper occurrences of silver-copper-gold mineralization, which might be coincident with a currently untested induced polarization (IP) chargeability high in the northern regions of the zone. These holes will also test the continued near-surface tungsten and molybdenum potential of the Coloradito area.
"Notably, one of the highest-grade samples taken to date from the La Joya property is a surface sample from the Coloradito area that returned 5,318.8 grams per tonne (g/t) silver, 54.7 g/t gold, and 6.3% lead over 2 metres. This historic sample was collected in 1999 by the Boliden/Luismin joint venture (SilverCrest Mines Inc. news release of February 16, 2012)," said Mike Romanik, president of Silver Dollar. "While surface samples are selected samples and are not necessarily representative of the overall mineralization hosted on the property, we are nevertheless excited to be drill testing the discovery potential of this underexplored area of the Property."
Mike Kilbourne, P.Geo., an independent Qualified Person as defined in NI 43-101, has reviewed and approved the contents of this news release on behalf of the Company.
About the La Joya Property
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. Access and infrastructure near the property are considered excellent with a highway and power lines nearby.
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 $9 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.
ON BEHALF OF THE BOARD
Signed "Michael Romanik"
President, CEO & Director
Silver Dollar Resources Inc.
Direct line: (204) 724-0613
179 - 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9
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/110005