SILVER MOUNTAIN REPORTS NEW UNDERGROUND CHANNEL SAMPLING RESULTS FROM THE METEYSACA VEIN, RELIQUIAS MINE
Highlights:
- 0.95m @ 535.26 g/t Ag, 6.43% Pb, 6.26% Zn, 1.37% Cu, and 0.58 g/t Au
- 0.90m @ 721.27 g/t Ag, 1.91% Pb, 2.62% Zn, 1.42% Cu, and 0.98 g/t Au
- 1.90m @ 313.06 g/t Ag, 2.51% Pb, 2.47% Zn, 0.76% Cu, and 1.37 g/t Au
- 0.63m @ 873.82 g/t Ag, 2.50% Pb, 3.23% Zn, 2.09% Cu, and 0.13 g/t Au
TORONTO, Feb. 14, 2023 /CNW/ – Silver Mountain Resources Inc. (TSXV: AGMR) (OTCQB: AGMRF) (BVL: AGMR) (“Silver Mountain“, “AGMR” or the “Company“) is pleased to announce new results from underground channel sampling at the Reliquias silver mine in Huancavelica, central Peru. To complement the drill campaigns and to facilitate the conversion of additional historic resources into a National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) compliant mineral resource, an extensive underground mapping and sampling program is being carried out at Reliquias. Several existing drifts, sublevels, and raises were mapped and systematically sampled in channels cut across the exposed veins.
Geochemical assays have been received for 436 rock channel samples taken from Level 480 of the Meteysaca Vein and adjacent workings, including a ramp and a raise that connect to the haulage level 415 located approximately 67 m below (Fig.1). This zone of well-developed mineralization in the Meteysaca Vein is exposed over approximately 148 m horizontally and additionally 30 m along the subvertical raise.
Samples were taken using an electric percussion hammer to produce a channel perpendicular across the veins and mineralized structures. By cutting a continuous channel approximately 3-5 cm deep by 10 cm wide, the channel samples essentially equal a drill core in their significance for future resource estimation. Where the structure is exposed along the back of the drift, channels were cut across the vein systematically every 4 m. Channel lengths range between 0.27 m and 1.97 m.
The underground sampling results from the Meteysaca Vein confirm the continuity of high-grade polymetallic mineralization within the structure, with significant concentrations of silver (Ag), lead (Pb), zinc (Zn), and copper (Cu). Gold grades, ranging on average between 0.38 g/t and 0.98 g/t in zones 2 to 6, correlate well with previously reported values from Level 415 (see news release September 8, 2022). To highlight the consistency of this vein system, the grades and widths of channels were averaged over each of the seven zones shown in Fig. 1.
Alfredo Bazo, President and CEO, commented: “Having completed the sampling program on Levels 415 and 480 of the Meteysaca vein, we are delighted about the consistent development of this structure with regard to grades and vein widths. The stopes between both haulage levels remain intact and were partially developed for extraction (Fig.1 and 2). We are planning to include this zone in the initial mine development work programmed to start in late Q3 2023.”
Torsten Danne, Director of Exploration, added: “To emphasize the potential of this vein to host additional high-grade mineralization, the longitudinal section in Fig. 2 (see below) shows that the Meteysaca structure has seen almost no extraction above Levels 520 and 560. We are presently rehabilitating Level 520, with detailed mapping and sampling programmed to start next month. We expect that this will allow us to add silver ounces beyond the mineralization confirmed to date, which currently extends over 210 m vertically between Level 480 and the deepest hole of our 2022 drill campaign.”
Source: Silver Mountain Resources Inc.
