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Silver Storm Drills 911 g/t Ag.Eq Over 13.05 m, Expanding C460 Zone 74 m at Depth

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Silver Storm Drills 911 g/t Ag.Eq Over 13.05 m, Expanding C460 Zone 74 m at Depth

 

 

 

 

 

Silver Storm Mining Ltd. (TSX-V: SVRS) (OTCQB: SVRSF) (FSE: SVR), is pleased to announce further drill results from its Phase 1 diamond drilling program at the Company’s 100% owned La Parrilla Silver Mine Complex, located in Durango Mexico. Results from the three holes within this release are from the Quebradillas mine. An overview video on the La Parrilla Project is available at youtu.be/dybgKXcGrYo?si=DLHZq8jGX2kEA0Uq.

 

Key highlights include:

  • Hole Q-23-022A intersected the C460 Zone returning 911 g/t Ag.Eq1 over 13.05 metres including 2,361 g/t Ag.Eq over 2.60 m and 1,266 g/t Ag.Eq over 2.15 m.
  • This intercept is located approximately 62 m below Hole Q-23-020 which returned 1,810 g/t Ag.Eq over 14.6 m, and 74 m vertically below the last mine development in this area, with similar high-grade mineralization:

– 1767 EL composited historical channel samples graded 974 g/t Ag.Eq over a strike length of 23 m and width of 2.86 m.

  • Hole Q-23-023 intersected the C460 Zone returning 347 g/t Ag.Eq. over 9.65 m including 397 g/t Ag.Eq over 5.30 m.

 

Greg McKenzie, President and CEO, commented: “Drill results from within the C460 Zone continue to deliver exceptional results. The high-grade mineralization reported today in hole Q-23-022A extends this zone 62 metres below hole Q-23-020 (1,810 g/t Ag.Eq over 14.6 m). Combined, these two holes have demonstrated the mineralization extends 74 metres below the last mined stope (1767 EL), with higher grades and widths than what was previously mined in this area. We will follow up with additional drilling in this location in 2024.”

 

C460 Zone

 

The C460 Zone is a sulphide replacement vein striking 344 degrees and dipping 63 degrees to the northeast with a known strike length of 425 m. The zone is mineralized over a vertical extent of 570 m and its thickness varies up to 8.5 m. The replacement vein is concordant to bedding in the sediments and mineralization is comprised of pyrite, pyrrhotite, galena, sphalerite, arsenopyrite, acanthite, and freibergite.

 

Hole Q-23-022A

 

Hole Q-23-022A was drilled to target the downdip extension of the C460 Zone, successfully intersecting replacement mineralization, returning 911 g/t Ag.Eq over 13.05 m (125.55 to 138.60 m), including 2,361 g/t Ag.Eq over 2.60 m (129.00 to 131.60 m) and 1,266 g/t Ag.Eq over 2.15 m (134.85 to 137.00 m) – See Table 1; Figures 1, 2 & 3.

 

This intercept is located approximately 62 m below Hole Q-23-020 which returned 1,810 g/t Ag.Eq over 14.62 m (refer to news release January 4, 2024) and located approximately 74 m vertically below the last mine development in this area, with similar high-grade mineralization (Table 2):

  • The composited weighted average grade of historical channel samples from the 1767 EL stope returned 974 g/t Ag.Eq over a strike length of 23 m and average width of 2.86 m.

 

Hole Q-23-022A also intercepted replacement mineralization, returning 535 g/t Ag.Eq over 0.55 m (119.65 to 120.20 m).

 

Hole Q-23-023

 

Hole Q-23-023 was drilled to target the C460 Zone, successfully intersecting replacement mineralization, returning 347 g/t Ag.Eq over 9.65 m (70.55 to 80.20 m) including 397 g/t Ag.Eq over 5.30 m (72.00 to 77.30 m).

 

This intercept was drilled 13 m below the previously developed 1740 EL stope:

  • The composited weighted average grade of historical channel samples from the 1740 EL stope returned 928 g/t Ag.Eq over a strike length of 31 m and average width of 1.94 m.

 

The intercept is also approximately 7 m to the west of the previously developed 1725 EL stope:

  • The composited weighted average grade of historical channel samples from the 1725 EL stope returned 780 g/t Ag.Eq over a strike length of 43 m and average width of 1.79 m.

 

Hole Q-23-021

 

Hole Q-23-021 intersected the C460 Zone, successfully intersecting replacement mineralization, returning 154 g/t Ag.Eq over 0.54 m (101.56 to 102.10 m).

 

Table 1 – Select Assay Intervals from Holes Q-23-021 to Q-23-023 and Historical Results

 

Zone Hole From To Length
(m)
Ag.Eq(1)
g/t
Ag
g/t
Au
g/t
Pb
%
Zn
%
Cu
%
C460 Q-23-021 101.56 102.10 0.54 154 13 0.04 0.10 4.99 0.02
                     
C460 Q-23-022A 119.65 120.20 0.55 535 64 0.06 0.47 16.65 0.21
                     
C460 Q-23-022A 125.55 138.60 13.05 911 498 0.08 6.48 8.52 0.06
  including 129.00 131.60 2.60 2,361 1,550 0.23 21.03 8.38 0.06
  and 134.85 137.00 2.15 1,266 674 0.06 5.42 16.23 0.06
                     
C460 Q-23-023 70.55 80.20 9.65 347 124 0.16 0.58 7.17 0.07
  including 72.00 77.30 5.30 397 136 0.18 0.40 8.68 0.08
                     
C460 Q-23-020 56.00 70.62 14.62 1,810 1,151 0.13 13.83 10.18 0.06
  including 56.00 60.00 4.00 682 279 0.21 6.21 8.06 0.07
  and 60.50 70.07 9.57 2,466 1,635 0.11 18.42 11.99 0.06
                     
C460 ILP-Q-19-03 141.70 142.35 0.65 127 32 0.12 0.14 3.01 0.04
C460 ILP-Q-19-05 78.80 79.75 0.95 278 26 0.17 0.27 8.50 0.06
C460 ILP-Q-19-12 159.25 160.05 0.80 229 91 0.05 1.74 3.22 0.05
  and 167.95 168.60 0.65 265 54 0.02 0.83 6.90 0.22
  and 169.50 170.20 0.70 136 18 0.01 0.08 4.25 0.03
  and 172.70 173.00 0.30 173 24 0.03 0.13 5.27 0.13
  and 173.20 173.90 0.70 214 16 0.01 0.04 7.21 0.07

 

 

Table 2 – Historical Channel Sample Results (2) – C460 Zone

 

Elevation Zone Channel Width Ag.Eq(1)
g/t
Ag
g/t
Pb
%
Zn
%
1725 C460 ACCESO 12-10 (L-0) 4.70 1,099 607 6.86 11.30
1725 C460 L-1 Q 3.30 796 304 3.19 14.91
1725 C460 L-2 Q 0.80 129 3 0.29 4.35
1725 C460 L-3 W_Quebradillas 0.70 86 24 0.40 1.90
1725 C460 L-4 W_Quebradillas 0.90 626 285 8.35 4.27
1725 C460 L-5 W_Quebradillas 0.50 1,376 701 16.20 8.83
1725 C460 L-6 W_Quebradillas 0.60 894 569 8.34 3.70
1725 C460 L-7 W_Quebradillas 2.40 1,821 1,245 13.42 7.91
1725 C460 L-8 W 1.30 802 343 12.37 4.63
1725 C460 L-9 W_Quebradillas 1.60 816 547 6.76 3.22
1725 C460 L-10 W_Quebradillas 1.40 493 305 4.44 2.55
1725 C460 L-11 W_Quebradillas 0.60 884 343 5.77 14.20
1725 C460 L-11+1.50 Mts 1.20 1,261 866 8.95 5.69
1725 C460 L-12+2 Mts 2.30 816 373 7.49 8.92
1725 C460 L-13+.50 Mts 3.20 633 284 7.04 5.87
1725 C460 L-13+1.50 Mts 3.60 504 242 6.00 3.67
1725 C460 L-14 W_Quebradillas 1.30 231 98 3.30 1.62
               
1725 C460 SE L-3 E_Quebradillas 2.00 1,243 547 9.47 16.24
1725 C460 SE L-4 E_Quebradillas 2.90 1,479 906 12.40 8.79
1725 C460 SE L-5 E_Quebradillas 1.70 3,402 2,483 23.32 10.74
1725 C460 SE L-6 E_Quebradillas 0.70 452 273 2.72 3.91
1725 C460 SE L-7 E_Quebradillas 1.30 343 81 2.60 7.07
1725 C460 SE L-8 E_Quebradillas 1.60 1,035 430 10.04 12.32
1725 C460 SE L-9 E_Quebradillas 2.00 289 136 2.50 3.15
1725 C460 SE L-10 E_Quebradillas 1.80 1,765 1,193 15.88 5.31
               
1740 C460 L-3 S_Quebradillas 1.60 199 48 1.45 4.13
1740 C460 L-4 S_Quebradillas 4.70 993 572 8.67 6.91
1740 C460 L-5 S_Quebradillas 1.50 639 338 6.07 5.09
1740 C460 L-7 S_Quebradillas 0.70 185 117 1.86 0.65
1740 C460 L-8 S 1.00 1,517 964 14.50 6.00
1740 C460 L-9 S 1.90 1,248 839 11.04 4.12
1740 C460 L-10 S 2.40 601 400 5.26 2.18
1740 C460 L-11 S 3.10 484 297 4.21 2.73
1740 C460 L-13 S 0.60 2,489 1,789 18.50 7.47
               
1740 C460 SE L-5 S_Quebradillas 2.20 1,227 707 8.50 10.70
1740 C460 SE Xo. 2 L-1 1.90 2,702 1,958 21.49 6.09
1740 C460 SE Xo. 2 L-2 1.60 1,105 497 6.51 15.93
1740 C460 SE Xo. 2 L-3 2.20 224 42 1.13 5.60
               
1740 C460 SW L-5 S_Quebradillas 3.10 404 142 3.72 5.98
1740 C460 SW Xro 1 L-1 2.20 809 511 7.65 3.42
1740 C460 SW Xro 1 L-2 3.50 319 156 3.17 2.85
               
Previously Disclosed Channel Sample Results
1767 C460 V460-1767-L0 1.60 660 288 5.40 8.37
1767 C460 V460-1767-L1 5.10 1,247 665 10.67 10.85
1767 C460 V460-1767-L2 2.80 1,447 733 12.80 13.62
1767 C460 V460-1767-L3 2.30 1,699 1,053 12.10 11.82
1767 C460 V460-1767-L4 2.00 1,249 659 10.68 11.13
1767 C460 V460-1767-L5 2.00 677 253 7.79 7.87
1767 C460 V460-1767-L6 3.30 437 158 4.70 5.63
1767 C460 V460-1767-L7 3.70 706 282 7.06 8.61
1767 C460 V460-1767-L8 2.90 641 274 5.58 7.98
               
1777 C460 V460-1777-L09 1.50 1,002 461 7.98 12.00
1777 C460 V460-1777-L08 2.70 376 150 3.37 4.96
1777 C460 V460-1777-L07 3.50 1,104 633 9.84 7.57
1777 C460 V460-1777-L06 3.20 995 496 7.68 10.77
1777 C460 V460-1777-L5S 1.80 1,915 1,057 13.64 18.09
1777 C460 V460-1777-L4S 1.65 1,816 1,152 13.62 10.96
1777 C460 V460-1777-L3S 2.40 893 443 7.82 8.84
1777 C460 V460-1777-L2S 1.95 569 280 6.72 3.97
1777 C460 V460-1777-L0 4.45 509 209 5.83 5.27
1777 C460 V460-1777-L2N 2.35 676 294 7.64 6.47
               
1792 C460 V460-1792-L1 2.30 315 148 4.19 2.01
1792 C460 V460-1792-L2 1.25 683 332 7.06 5.94
1792 C460 V460-1792-L3 1.40 1,417 914 12.59 6.07
1792 C460 V460-1792-L4 2.75 1,712 1,158 13.63 6.89
1792 C460 V460-1792-L5 2.40 986 471 12.90 6.15
1792 C460 V460-1792-L6 4.05 1,046 614 10.61 5.39
1792 C460 V460-1792-L7 3.65 563 236 6.04 6.06
(1) All results in this release are rounded. Assays are uncut and undiluted. Widths are core-lengths, not true widths. Silver equivalent: Ag.Eq g/t was calculated using commodity prices of US$22.50 /oz Ag, US$1,800 /oz Au, US$0.94 /lb Pb, and US$1.35 /lb Zn applying metallurgical recoveries of 70.1% for silver and 82.8% for gold in oxides and 79.6% for silver, 80.1% for gold, 74.7% for lead and 58.8% for zinc in sulphides. Metal payable used was 99.6% for silver and 95% for gold in doré produced from oxides, and 95% for silver, gold, and lead and 85% for zinc in concentrates produced from sulphides. Cut-off grades considered for oxide and sulphide were, respectively 140 g/t Ag.Eq and 125 g/t Ag.Eq and are based on 2017 costs adjusted by the inflation rate and include sustaining costs.
(2) Weighted average grades were calculated over the mineralized widths of each channel (Figures 1-3).

 

 

Sample Analysis and QA/QC Program

 

Silver Storm uses a quality assurance/quality control program that monitors the chain of custody of samples and includes the insertion of blanks, duplicates, and reference standards in each batch of samples sent for analysis. The drill core is photographed, logged, and cut in half, with one half retained in a secured location for verification purposes and one half shipped for analysis. Sample preparation (crushing and pulverizing) is performed at ALS Geochemistry, an independent ISO 9001:2001 certified laboratory, in Zacatecas, Mexico and pulps are sent to ALS Geochemistry in Vancouver, Canada for analysis. The entire sample is crushed to 70% passing -2 mm, and a riffle split of 250 grams is taken and pulverized to better than 85% passing 75 microns. Samples are analyzed for gold using a standard fire assay with Atomic Absorption Spectrometry (AAS) (Au-AA23) from a 30-gram pulp. Gold assays greater than 10 g/t are re-analyzed on a 30-gram pulp by fire assay with a gravimetric finish (Au-GRA21). Samples are also analyzed using a 34 element inductively coupled plasma (ICP) method with atomic emission spectroscopy (AES) on a pulp digested by four acids (ME-ICP61). Overlimit sample values for silver (>100 g/t), lead (>1%), zinc (>1%), and copper (>1%) are re-assayed using a four-acid digestion overlimit method with ICP-AES (ME-OG62). For silver values greater than 1,500 g/t, samples are re-assayed using a fire assay with gravimetric finish on a 30-gram pulp (Ag-GRA21). Samples with lead values over 20% are re-assayed using volumetric titration with EDTA on a 1-gram pulp (Pb-VOL70). No QA/QC issues were noted with the results reported herein.

 

Review by Qualified Person and QA/QC

 

The scientific and technical information in this document has been reviewed and approved by Bruce Robbins, P.Geo., a Qualified Person as defined by National Instrument 43-101.

 

About Silver Storm Mining Ltd.

 

Silver Storm Mining Ltd. holds advanced-stage silver projects located in Durango, Mexico. Silver Storm recently completed the acquisition of 100% of the La Parrilla Silver Mine Complex, a prolific operation which is comprised of a 2,000 tpd mill as well as five underground mines and an open pit that collectively produced 34.3 million silver-equivalent ounces between 2005 and 2019. The Company also holds a 100% interest in the San Diego Project, which is among the largest undeveloped silver assets in Mexico.

 

Figure 1: Longitudinal Section of C460 Zone View Toward West (Photo: Business Wire)

 

Figure 2: Plan View C460 Zone 1792 EL and Below (Photo: Business Wire)

 

Figure 3: Oblique View to NW of C460 Channel Samples 1792, 1777, 1767, 1740 and 1725 EL Stopes (Photo: Business Wire)

Posted February 25, 2024

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