Drill hole LV21-289
Intercepts Highest Silver and Gold Grades to Date at El
Rubi
- Hole LV21-289 intercepts 130 metres1 (80.08
metres estimated true width) of silver-gold mineralization
averaging 18 g/t silver and 0.69 g/t gold before cutting an
additional 19.3 metres1 (11.89 metres estimated true
width) averaging 363 g/t silver and 21.2 g/t gold in the deepest
hit on the El Rubi structure to date
- Individual sample #21699 returns 10,681 g/t silver and 738
g/t gold over 0.5 metres1 core length (0.31 metres
estimated true width)
- Intervals from LV21-289 overshadow excellent results from
hole LV20-284, also intercepting multiple broad zones of
mineralization in the Western Zone
- Work continues to advance toward the completion of a maiden
resource calculation, with new data being incorporated into the
model
TSX.V: VIPR, OTC:VIPRF
VANCOUVER, BC, March 1, 2021 /CNW/ - Silver Viper
Minerals Corp. (the "Company" or "Silver
Viper") (TSX-V: VIPR) is extremely pleased to report the
current batch of drilling results from ongoing exploration at the
La Virginia Silver-Gold Project. The six drill holes reported
herein were drilled within the El Rubi prospect. The standout hole
of this release, and first of the 2021 program, intercepted three
main zones of mineralization, culminating in the highest grade and
deepest hit yet encountered at El Rubi. Hole LV21-289 returned a
19.30 metres1 core length (11.89 metres estimated true
width) zone averaging 363 g/t silver and 21.2 g/t gold in the
deepest hit on the El Rubi structure to date containing a best
individual sample of 0.5 metres1 core length (0.31
metres estimated true width) grading 10,681 g/t silver and 738 g/t
gold from 429.2 metres. In addition, this same interval
returned an unprecedented 6.74% Pb and 7.11% Zn, marking the
first time high-grade base metals have been reported from El Rubi.
The current results are being incorporated into the wireframe
modelling of the mineralization.
Silver Viper's President and CEO Steve
Cope states, "Hole LV21-289 really is an eye opener as to
the ultimate potential of this project. Obviously, the
presence of spectacular grades deep in the hole will grab the
markets' attention, but beyond that, it is the deepest and widest
high-grade intercept to date on the El Rubi structure which is very
encouraging. The zone in itself is cause for us to be
thrilled, but equally as important is the well mineralized
130m long zone higher in the hole
which continues to show the open pit potential of the El Rubi
area. We look forward to continuing to release results from
El Rubi and are excited about the upcoming catalyst of a maiden
resource on the project."
Silver Viper is also pleased to report that 2021 exploration
continues to advance, with crews expanding and infilling mapping
and geochemical coverage over the project area. Planned
exploration activities for 2021 include follow-up reconnaissance
work on existing geochemical anomalies, an imminent airborne LiDAR
survey and continuation of the ongoing exploration drilling
campaign at El Rubi.
Silver and gold bearing structures at El Rubi are hosted by a
gently dipping volcanic sequence of felsic to intermediate
composition within a highly structurally controlled network of
quartz veining and vein breccias. The El Rubi structure
represents a northwest trending, fault-controlled, often silicified
breccia/quartz stockwork zone which dips steeply to the
east-northeast. To date the El Rubi structure has been intercepted
by drilling over a strike length of 500 metres and a vertical depth
of 300 metres.
Low to medium grade silver-gold mineralization is also
consistently observed within the footwall of the El Rubi structure,
extending up to 200 metres west of El Rubi trend. In some
cases, fine quartz stringers form zones of weak stockwork tens of
metres in width. This broad stockwork zone is referred to by
Silver Viper as the Western Zone and is evidenced by drill
intercepts such as those in LV20-245 (see News Release dated
August 26th, 2020) and in
hole LV20-284, see below.
The entire project is situated upon a regional-scale,
north-northwest trending fault system and additional sub-parallel
trends are recognized further east of El Rubi.
The table below documents significant intercepts from the
current batch of drill results. LV21-289 eclipses the batch
in terms of intercepted mineralization width and grade. Holes
LV20-284 and 289 are located on sections 50 metres and 100 metres
south of previously reported hole LV20-245 respectively. This
group of holes represent a systematic series of scissor holes
oriented eastward at El Rubi and spaced on 50 metre east-west
sections. The holes were planned to provide confirmation and
support to interpretations of mineralized structures encountered or
projected from previous data. Silver Viper intends to continue this
systematic approach to defining the mineralization at El Rubi.
A drill plan showing the relative locations of the collars and
selected photographs of drill intercepts are accessible on the
Silver Viper website.
EL RUBI ZONE BEST RESULTS
|
|
|
|
|
|
|
|
|
HOLE
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Estimated
True
Width1
(m)
|
Ag
(g/t)
|
Au
(g/t)
|
Ag
Equiv2
(g/t)
|
Au
Equiv2
(g/t)
|
LV20-284
|
79.00
|
126.00
|
47.00
|
28.95
|
44
|
0.77
|
98
|
1.4
|
Includes
|
81.00
|
82.35
|
1.35
|
0.83
|
329
|
5.39
|
706
|
10.1
|
Includes
|
103.00
|
106.00
|
3.00
|
1.85
|
170
|
2.95
|
377
|
5.38
|
AND
|
134.00
|
150.50
|
16.50
|
10.16
|
42
|
1.06
|
116
|
1.66
|
Includes
|
138.00
|
139.00
|
1.00
|
0.62
|
324
|
8.54
|
922
|
13.2
|
AND
|
225.50
|
227.00
|
1.50
|
0.92
|
52
|
1.82
|
179
|
2.56
|
AND
|
260.00
|
261.50
|
1.50
|
0.92
|
152
|
0.52
|
188
|
2.68
|
AND
|
317.50
|
319.00
|
1.50
|
0.92
|
231
|
11.80
|
1,057
|
15.1
|
AND
|
359.00
|
360.50
|
1.50
|
0.92
|
60
|
1.09
|
136
|
1.94
|
AND
|
379.40
|
383.60
|
4.20
|
2.59
|
52
|
0.94
|
118
|
1.69
|
LV20-285
|
57.00
|
59.00
|
2.00
|
0.75
|
10
|
0.64
|
55
|
0.79
|
LV20-286
|
70.15
|
72.00
|
1.85
|
1.52
|
78
|
1.07
|
153
|
2.18
|
LV20-287
|
37.75
|
40.50
|
2.75
|
1.10
|
105
|
0.47
|
138
|
1.98
|
AND
|
103.00
|
109.00
|
6.00
|
2.40
|
36
|
0.46
|
68
|
0.98
|
Includes
|
104.40
|
106.00
|
1.60
|
0.64
|
83
|
1.10
|
160
|
2.28
|
AND
|
111.00
|
113.25
|
2.25
|
0.90
|
36
|
0.53
|
73
|
1.04
|
AND
|
261.00
|
264.00
|
3.00
|
1.20
|
31
|
1.21
|
115
|
1.65
|
Includes
|
261.00
|
262.00
|
1.00
|
0.40
|
54
|
2.82
|
251
|
3.59
|
LV20-288
|
53.00
|
54.00
|
1.00
|
0.82
|
52
|
0.66
|
99
|
1.41
|
LV21-289
|
64.50
|
70.50
|
6.00
|
3.70
|
40
|
0.88
|
101
|
1.45
|
AND
|
127.00
|
139.00
|
12.00
|
7.39
|
38
|
0.60
|
80
|
1.14
|
AND
|
280.50
|
410.50
|
130.00
|
80.08
|
18
|
0.69
|
67
|
0.95
|
Includes
|
292.38
|
293.50
|
1.12
|
0.69
|
172
|
9.9
|
865
|
12.4
|
AND
|
321.40
|
323.50
|
2.10
|
1.29
|
123
|
6.55
|
582
|
8.32
|
AND
|
418.20
|
437.50
|
19.30
|
11.89
|
363
|
21.2
|
1,849
|
26.4
|
Includes
|
428.70
|
430.20
|
1.50
|
0.92
|
3,917
|
252
|
21,541
|
308
|
(includes)
|
429.20
|
429.70
|
0.50
|
0.31
|
10,681
|
738
|
62,369
|
891
|
1 True widths are difficult to
estimate at this early stage of exploration. Estimated true widths
presented here are calculated for each interval based on current
geological interpretation of the mineralized zones. Presently
the mineralized structures are interpreted as being sub-vertical.
Oriented core has been drilled in four holes at El Rubi and to date
support this interpretation.
|
2 The use
of both silver and gold equivalents reported in the body text and
in the intercept table are justified by Silver Viper due to the
appreciable concentration of both precious metals in all reported
results. Equivalents are presented to provide context for the
reader. Preliminary bottle roll tests reported previously indicate
that there is a reasonable expectation of dissolution of both gold
and silver from El Rubi material within conventional leaching
parameters. The silver-gold equivalent calculations use an
historical price ratio of 70:1, maintained at this ratio for
consistency with Silver Viper's previous releases. Calculations are
made using the formulas Ag equivalent = Ag grade + (Au grade x
70), Au equivalent = Au grade + (Ag grade / 70). No base metals
values are used in the calculations.
|
Of the six holes reported herein, LV20-284 and 285 were designed
to test for mineralization in the Western Zone, while holes
LV20-286, 287 and 288 were situated to test portions along the
southern projection of the main El Rubi area. Hole LV21-289
was designed to test both the Western Zone, 50 metres south of
LV20-284 and to intercept the projection of El Rubi at depth in the
vicinity of local section 10,000N.
The upper portions of hole LV21-289 (azimuth 090, dip
-450) encountered mineralized stringer intervals thought
to represent the southern projection of the Western Zone.
More consistent mineralization was encountered starting at 280
metres down hole, returning a down hole length measuring 130
metres core length with an average grade of 18 g/t silver and 0.69
g/t gold. Beneath this interval, a well mineralized breccia
zone was encountered, starting at 424.85 metres down hole for
19.30 metres core length averaging 363 g/t silver and 21.2 g/t
gold, and thought to represent the projection of El
Rubi structure.
Drill hole LV20-284 (azimuth
090, dip -450) was located 50m south of, and oriented parallel to,
previously reported hole LV20-245, the discovery hole for El Rubi
Western Zone. Hole LV20-284 was an oriented core hole, providing
valuable structural data as well as intersecting a broad, 176.30
metre intercept of anomalous gold/silver mineralization starting
from 24 metres down hole. Two intervals from within this
broad anomalous zone have been selected as significant for this
release. The first starts at 79.0 metres down hole for a total of
47.0 metres core length (estimated 28.95 metres true width)
averaging 44 g/t silver and 0.77 g/t gold, and at 134.0 metres
down hole for a total of 16.5 metres core length (10.16 metres
estimated true width) averaging 42 g/t silver and 1.05 g/t
gold. These intervals contained higher grade zones such
as 1.35 metres core length grading 329 g/t silver and 5.39 g/t gold
from 81 metres depth and 1.0 metre core length grading 324 g/t
silver and 8.54 g/t gold from 138 metres depth. Other intercepts
from deeper in this same hole include 1.5 metres grading 231 g/t
silver and 11.8 g/t gold from 317.5 metres depth.
Drill hole LV20-285 (azimuth
270, dip -450) was intended as a short, oriented core
hole designed to collect structural data related to the projected
andesite/rhyolite contact and to test for additional stringer
zones, as suggested by soil geochemistry. A thin, weakly
mineralized stringer zone was encountered at a downhole depth of
57.0 metres.
Drill hole LV20-286, LV20-287
and LV20-288 (azimuths 240, dips -450, -750,
-450 respectively) were drilled on local sections 9950N
(286 and 287), and 9900N (288) and tested the southern extension of
the El Rubi structure. LV20-286 was an oriented hole designed
to gather information about vein and structure orientation in the
southern portion of El Rubi. LV20-287 was collared from the same
pad, inclined at a much steeper angle that LV20-286. Hole
LV20-288 was the final hole from 2020 and represents the
southernmost 50 metre step out on the main El Rubi structure to
date. (sharing a section with previously drilled LV20-214).
Follow up drilling designed to intersect the El Rubi structure at
deeper levels is planned for 2021.
About the Project
La Virginia is located 220 km east-northeast of Hermosillo, Sonora. It is a large exploration
area, primarily prospective for fault-controlled, low-sulphidation
epithermal precious metal mineralization. The Property and
historical exploration database were acquired by way of option
agreements made with two distinct parties. Gold and silver
mineralization at La Virginia occurs within breccias, veins and
stockworks, hosted primarily by andesitic volcanics, often in close
spatial association to, or cross-cutting pre-mineral dacite dykes
and controlled by fractures and faults that define the regional
structural trend. Silver Viper's reconnaissance program
identified key targets and trends which are of primary interest and
filed strategic reductions in claims to attain a final surface area
of 6,882 hectares. The Company has filed reductions of the large
concessions to better focus efforts on the high priority
trends.
At the completion of the 2020 exploration work at La Virginia,
Silver Viper had completed a total of 100 drill holes for a
combined meterage of 27,021 metres across the project. Exploration
drilling continues at La Virginia using a single diamond drill
supplied by Hermosillo-based drill
contractor, Globexplore Drilling Corp. Drilling by the
Company to date builds upon a sizeable database of recent
historical work including 52,635 metres of drill core from 188
diamond drill holes, generated by the efforts of previous operators
between 2010 and 2013. Silver Viper is expanding upon this work by
continuing exploration north and south into prospective untested
ground.
QA/QC
Analytical results of drilling intercepts reported by Silver
Viper represent samples of halved diamond drill core submitted by
Silver Viper staff directly to Bureau Veritas, Hermosillo, Sonora, Mexico. Samples were
crushed, split and pulverized as per Bureau Veritas method
PRP70-250, then analyzed for gold by lead collection fire assay
fusion on a 30g split with AAS finish, and for a multi-element
suite including silver by multi-acid digestion with ICP-ES/MS
finish. Samples triggering precious metal over-limit thresholds of
10g/t Au or 200g/t Ag were retested by lead collection fire assay
fusion with a gravimetric finish (method code FA530. In the
case of sample #21699, an additional analysis reserved for
concentrates was employed, analysis code FA501-Ag. Silver Viper
monitors QA/QC using commercially sourced standards and locally
sourced blank materials inserted within the sample sequence at
regular intervals.
Dale Brittliffe, P.Geo., Vice President of Exploration, is the
'Qualified Person' under National Instrument 43-101 and has
approved the scientific and technical information contained in this
news release. Ongoing verification of scientific and technical
information is achieved by direct involvement in the exploration
work, the most recent site visit was conducted in November 2020.
About the Company
Silver Viper Minerals Corp. is a Canadian-based junior mineral
exploration company focused on precious metals exploration in the
northwestern Mexican state of Sonora. The Company currently
operates the La Virginia Gold-Silver Project. Silver Viper has 100%
ownership of the La Virginia concessions acquired from the most
recent operator, Pan American Silver Corp., and has an option to
acquire a 100% interest in the Rubi-Esperanza group of claims
internal to those concessions. Silver Viper is under management
provided by the Belcarra Group, which is comprised of highly
qualified mining professionals.
On behalf of the board of directors,
Steve Cope
President and CEO
Forward Looking Information
Information set forth in this press release contains
forward-looking statements. These statements reflect management's
current estimates, beliefs, intentions and expectations; they are
not guarantees of future performance. The Company cautions that all
forward-looking statements are inherently uncertain and that actual
performance may be affected by a number of material factors, many
of which are beyond the Company's control. Such factors include,
among other things: risks and uncertainties relating to exploration
and development, the ability of the Company to obtain additional
financing, the need to comply with environmental and governmental
regulations, fluctuations in the prices of commodities, operating
hazards and risks, competition and other risks and uncertainties,
including those described in the Company's financial statements
available on www.sedar.com. Accordingly, actual and future events,
conditions and results may differ materially from the estimates,
beliefs, intentions and expectations expressed or implied in the
forward-looking information. Except as required under applicable
securities legislation, the Company undertakes no obligation to
publicly update or revise forward-looking information.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/silver-viper-drills-0-5-metres-core-length-grading-10-681-gt-silver-738-gt-gold-6-74-pb-and-7-11-zn-at-la-virginia-301237614.html
SOURCE Silver Viper Minerals Corp.