TORONTO, ONTARIO–(Marketwired – Nov. 20, 2017) – Stroud Resources Ltd. (TSX VENTURE:SDR) (“Stroud” or the “Company”) has filed an updated, independent National Instrument 43-101 (“NI 43-101”) Technical Report (the “Report”) on its Santo Domingo Project (the “Property”) located in the western silver-gold belt of the Sierra Madre Mountains of Mexico. The Property is located 90 km from Guadalajara in Jalisco Province; about 150 km south-west of First Majestic's San Martin Silver Mine and 150 km south-east of Endeavour Silvers' Terronera Development Project. The Report was prepared by Derek McBride, P. Eng. using the exploration results from 16 diamond drill holes completed in 2011-2012, primarily on the La Raya and Guadalupe zones. It shows a significant increase in the measured and indicated and inferred mineral resource estimates from numbers previously reported in a 2010 Technical Report (press release of January 27, 2010).
- Measured and Indicated resources increased to 25.74M silver equivalent ounces from 15.05M.
- Inferred Resources increased to 13.39M silver equivalent ounces from 10.68M.
- La Raya vein indicates a mineralized zone, 35 metres wide by 300 metres deep and over 700 metres along strike.
- Guadalupe vein is typically 15 to 30 metres wide.
- Five additional veins have been identified for future exploration, deeper into the hillside.
“Santo Domingo was first discovered in the 16th century and although there have been several periods of small-scale mining over the last 400 years, little modern exploration was ever carried out on the Property,” said Mirsad Jakubovic, CEO of Stroud, “We have now defined a significant silver deposit and believe we have merely scratched the surface. The strike length of the La Raya and Guadalupe zones have been drilled to a depth of approximately 150 metres, leaving considerable room to expand by drilling. With the technical sophistication available today, the opportunity exists to more sensitively and expertly extract these resources with the least amount of disruption and cost. The sites proximity to Guadalajara provides excellent access to roads and facilities, with power and water supply on-site.”
The Report confirms measured and indicated, and inferred resources as set out in the table below:
|Measured and Indicated||6,081,801||0.47||100.97||134.91||91,612||19,010,765||25,738,178|
|Cut-off grade was 45 grams per tonne silver equivalent over a three metre true width and a gold-silver ratio of 72:1|
Continuity of mineralization was established by drilling on 50 metre centres, and using a specific gravity of 2.65
The Report has an effective date of November 17, 2017, meets the guidelines and form as set out in the National Instrument 43-101 – Standards of Disclosure for Mineral Projects and CIM standards, and was prepared for Stroud by Derek McBride Geological and Management Services Ltd., a Qualified Person as defined under the NI 43-101 reporting requirements. The Mineral Resource Estimation is contained in a report entitled “NI 43-101 Technical Report on the Santo Domingo Silver-Gold Project, Hostotipaquillo Area, Jalisco State, Mexico” dated November 17, 2017, which may be found under Stroud's continuous disclosure filings at www.sedar.com.
Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the estimated Mineral Resources will be converted into Mineral Reserves. The Estimate may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues. The Mineral Resources were estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the Standards Committee on Reserve Definitions and adopted by the CIM Council on November 27, 2010.
Dr. Derek McBride P. Eng. is the Qualified Person (“QP”) within the meaning of the National Instrument 43-101 for this press release. Dr. McBride has performed assignments around the world and across the whole spectrum of commodities including base and precious metals, ferrous metals, uranium, industrial minerals and diamonds. He has over 40 years' experience and is the co-author of a comprehensive study on lode gold deposits. Dr. McBride, the QP, has prepared and supervised the preparation of, and approved the scientific and technical disclosure in this news release.
About Stroud Resources Ltd.
Stroud Resources is a TSX-V listed company focused on the exploration and development of its Santo Domingo epithermal silver-gold project in central Mexico.
Neither 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.