Category: Exploration and Development

“While waiting for the travel restrictions to be lifted, we took the opportunity to further refine our understanding of the geology at Cerro Caliche, in order to fine tune our exploration strategy,” said Kenneth MacLeod, President and CEO of Sonoro. “This report highlights the exceptional potential for both significantly increasing the gold resource and outlining much higher-grade gold zones as we drill deeper.”

GR Silver Mining President and CEO, Marcio Fonseca, commented, “The first batch of drill hole results from the Plomosas Mine Area provides support for the significant potential of this area for discoveries of new mineralization and the delineation of additional resources in the future. The results not only confirm the continuity of the polymetallic wide breccia system down-dip from the historical underground mine, but also present discoveries of parallel Au-Ag mineralized veins and breccias. These features are being incorporated into a 3D geological model for the first time. The results indicate potential for bulk tonnage polymetallic mineralization (Zn-Pb with attractive Ag- Au grades) in un-mined zones near existing underground development, as well as new opportunities for future expansion.”

“These drill results, as well as the set released in January, are amongst the best ever drilled at Cozamin. Despite the temporary ramp down of operations at Cozamin, due to COVID-19 restrictions in Mexico, we are well ahead of schedule and still expect to deliver an updated Mineral Resource and Mineral Reserve estimate and Technical Report by the end of this year,” said Brad Mercer, SVP Exploration and Operations.

Significantly, the drilling to date continues to demonstrate that thicker units of high-grade mineralisation occur within the current resource model at Level 7 which is the deepest of the main ore workings developed at Plomosas at approximately 240m below surface.

The prospect areas to the northwest of Plomosas are prospective for gold as the area has undergone structural brittle deformation resulting in auriferous quartz, hematite veins containing variable copper mineralisation and related alteration occurring during deformation. The confirmed presence of intrusive granite to the north may be the driver for any potential mineralisation occurrence in the Don Lucas concession, which includes the La Chona-Enrique trend.

Silver Viper’s President and CEO Steve Cope states, “The drilling results have been very encouraging, and we eagerly await the opportunity to return to site to complete sampling of the two remaining drill holes and resume our Phase II drill program. We are taking the opportunity afforded by this pause in work, to focus on the interpretation of surface sampling results and diamond drilling results as well as geological mapping data assembled to date.”