Silver Storm Announces Rosarios Mine Drill Results
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![Figure 1: Rosarios Zone Cross Section View to North of Key Results Holes RO-24-001 to 023A (Graphic: Business Wire)](https://mms.businesswire.com/media/20240527198653/en/2141317/4/Figure_1_Rosarios_Zone_Cross_Section_View_to_North_of_Key_Results_Holes_RO-24-001_to_023A.jpg)
Figure 1: Rosarios Zone Cross Section View to North of Key Results Holes RO-24-001 to 023A (Graphic: Business Wire)
An overview video on the
Key highlights include:
Numerous high-grade intercepts were encountered within the
-
In Central Rosarios, hole RO-24-015 returned 598 g/t Ag.Eq1 over 3.91 m including 1,170 g/t Ag.Eq over 0.50 m and 1,071 g/t Ag.Eq over 1.35 m, RO-24-014 returned 431 g/t Ag.Eq over 0.69 m and 285 g/t Ag.Eq over 1.02 m, hole RO-24-020 returned 300 g/t Ag.Eq over 1.87 m including 588 g/t Ag.Eq over 0.46 m, hole RO-24-018 returned 928 g/t Ag.Eq over 0.50 m, and hole RO-24-017 that returned 225 g/t Ag.Eq over 1.48 m
- Seven drill holes in this area encountered high-grade mineralization outside the current resource envelope
-
In Western Rosarios, hole RO-24-001 returned 283 g/t Ag.Eq over 3.84 m, including 542 g/t Ag.Eq over 1.19 m and 868 g/t Ag.Eq over 0.39 m, hole RO-24-022A returned 900 g/t Ag.Eq over 0.97 m within a broader interval of 682 g/t Ag.Eq over 1.47 m, and hole RO-24-003 intersected 450 g/t Ag.Eq over 0.30 m
- High-grade mineralization extends the zone 135 m downdip from the last mined stope in the area, demonstrating potential of extending the zone further downdip and to the west
-
In Eastern Rosarios, hole RO-24-012 returned 338 g/t Ag.Eq over 1.97 m within a broader interval of 187 g/t Ag.Eq over 4.54 m
- Extended the zone approximately 95 m downdip from the last mined stope in this area
- A new mineralized zone was identified in Eastern Rosarios with hole RO-24-007 returning 605 g/t Ag.Eq over 0.31 m and RO-24-009 returning several intercepts the most notable being 889 g/t Ag.Eq over 0.44 m and 468 g/t Ag.Eq over 0.44 m
Central Rosarios
Holes RO-24-004A to 006 and 014 to 023A targeted the
Drilling within Block A (300 m by 250 m) had four holes intersect high-grade mineralization outside of the existing resource envelope: hole RO-24-015 returned 598 g/t Ag.Eq over 3.91 m (106.94 to 110.85 m) including 1,170 g/t Ag.Eq over 0.50 m and 1,071 g/t Ag.Eq over 1.35 m, RO-24-014 returned 431 g/t Ag.Eq over 0.69 m (139.88 to 140.57 m) and 285 g/t Ag.Eq over 1.02 m (132.15 to 133.17 m), hole RO-24-004A intersected vein mineralization returning 295 g/t Ag.Eq over 0.96 m (26.55 to 27.51 m), and hole RO-24-005 returned 213 g/t Ag.Eq over 0.7 m (17.68 to 18.35 m).
There are several historical holes within Block A (see Figure 2 and Table 1) and, when combined with current drill results, are expected to have a positive impact on Mineral Resources within this area.
An average width of 1.63 m and average weighted-average grade of 267 g/t Ag.Eq has been calculated from all the historical and current holes within Block A.
Drilling within Block B (175 m by 200 m) had three holes intersect high-grade mineralization outside of the existing resource envelope: hole RO-24-020 returned 300 g/t Ag.Eq over 1.87 m (69.84 to 71.71 m) including 588 g/t Ag.Eq over 0.46 m, hole RO-24-018 returned 928 g/t Ag.Eq over 0.50 m (79.33 to 79.83 m), and hole RO-24-017 that returned 225 g/t Ag.Eq over 1.48 m (110.78 to 112.26 m).
An average width of 0.88 m and average weighted-average grade of 301 g/t Ag.Eq has been calculated from all the historical and current holes within Block B.
The Phase 2 drill program will focus on these two blocks of interest with the intent of increasing the drilling density to identify Indicated Resources and further extend the Inferred Resources at depth.
Western Rosarios
Five holes were drilled to test the strike and down-dip extension on the
Hole RO-24-001 successfully intersected vein mineralization returning 283 g/t Ag.Eq over 3.84 m (96.83 to 100.67 m), including 542 g/t Ag.Eq over 1.19 m and 868 g/t Ag.Eq over 0.39 m, and hole RO-24-022A returned 900 g/t Ag.Eq over 0.97 m within a broader interval of 682 g/t Ag.Eq over 1.47 m (183.00 to 184.47 m). Hole RO-24-002 intersected 212 g/t Ag.Eq over 0.57 m (65.13 to 65.70 m) and 191 g/t Ag.Eq over 1.15 m (67.98 to 69.13 m), hole RO-24-003 intersected 450 g/t Ag.Eq over 0.30 m (156.79 to 157.09 m), and hole RO-24-023A returned 228 g/t Ag.Eq over 0.50 m (186.77 to 187.27 m).
Eastern Rosarios
Holes RO-24-007 to 013 targeted the strike and downdip extension of the
Holes RO-24-007 to 009 targeted the extreme eastern extension of the
Table 1 – Select Assay Intervals from Holes RO-24-001 to RO-24-023A and Historical Results
Zone |
Hole |
From |
To |
Length
|
Ag.Eq(1)
|
Ag
|
Au
|
Pb
|
Zn
|
Cu
|
RO |
RO-24-001 |
77.54 |
78.37 |
0.83 |
157 |
124 |
0.23 |
0.04 |
0.48 |
0.01 |
RO |
RO-24-001 |
96.83 |
100.67 |
3.84 |
283 |
73 |
0.06 |
2.17 |
5.42 |
0.07 |
including |
96.83 |
98.02 |
1.19 |
542 |
123 |
0.15 |
3.73 |
11.28 |
0.08 |
|
and |
100.28 |
100.67 |
0.39 |
868 |
268 |
0.04 |
8.05 |
14.00 |
0.37 |
|
|
|
|
|
|
|
|
|
|
||
RO |
RO-24-002 |
65.13 |
65.70 |
0.57 |
212 |
30 |
0.19 |
0.16 |
5.96 |
0.02 |
RO |
RO-24-002 |
67.98 |
69.13 |
1.15 |
191 |
120 |
0.33 |
0.74 |
0.93 |
0.01 |
|
|
|
|
|
|
|
|
|
||
RO |
RO-24-003 |
156.79 |
157.09 |
0.30 |
450 |
217 |
0.01 |
5.89 |
2.73 |
0.31 |
|
|
|
|
|
|
|
|
|
||
RO |
RO-24-004A |
26.55 |
27.51 |
0.96 |
295 |
250 |
0.11 |
0.86 |
0.47 |
0.04 |
|
|
|
|
|
|
|
|
|
||
RO |
RO-24-005 |
17.68 |
18.35 |
0.67 |
213 |
117 |
0.77 |
1.06 |
0.23 |
0.19 |
RO |
RO-24-005 |
27.00 |
29.05 |
2.05 |
168 |
125 |
0.18 |
0.72 |
0.34 |
0.02 |
C340 |
RO-24-005 |
89.28 |
94.11 |
4.83 |
184 |
113 |
0.16 |
1.44 |
0.71 |
0.20 |
including |
93.50 |
94.11 |
0.61 |
347 |
221 |
0.17 |
3.63 |
0.55 |
0.20 |
|
|
|
|
|
|
|
|
|
|
||
NEW |
RO-24-006 |
31.47 |
32.08 |
0.61 |
294 |
112 |
0.05 |
4.14 |
2.45 |
0.02 |
RO |
RO-24-006 |
36.75 |
41.98 |
5.23 |
180 |
70 |
0.25 |
1.57 |
1.77 |
0.04 |
including |
41.40 |
41.98 |
0.58 |
607 |
208 |
0.20 |
5.97 |
8.18 |
0.08 |
|
|
|
|
|
|
|
|
|
|
||
NEW |
RO-24-007 |
6.68 |
6.99 |
0.31 |
605 |
208 |
0.57 |
4.54 |
8.40 |
0.16 |
|
|
|
|
|
|
|
|
|
||
NEW |
RO-24-008 |
0.60 |
0.95 |
0.35 |
182 |
95 |
0.04 |
0.84 |
2.26 |
0.03 |
NEW |
RO-24-008 |
4.74 |
5.01 |
0.27 |
280 |
25 |
0.08 |
0.45 |
8.68 |
0.06 |
|
|
|
|
|
|
|
|
|
||
NEW |
RO-24-009 |
5.53 |
5.97 |
0.44 |
468 |
289 |
0.14 |
5.56 |
0.69 |
0.23 |
NEW |
RO-24-009 |
14.28 |
14.63 |
0.35 |
239 |
22 |
0.41 |
0.15 |
6.64 |
0.02 |
NEW |
RO-24-009 |
26.17 |
26.47 |
0.30 |
165 |
61 |
0.05 |
1.82 |
1.91 |
0.05 |
NEW |
RO-24-009 |
28.57 |
29.00 |
0.43 |
153 |
85 |
0.09 |
1.90 |
0.38 |
0.10 |
NEW |
RO-24-009 |
35.17 |
35.61 |
0.44 |
889 |
606 |
0.61 |
8.30 |
0.38 |
0.08 |
RO |
RO-24-009 |
105.81 |
107.32 |
1.51 |
272 |
190 |
0.83 |
0.33 |
0.24 |
0.02 |
|
|
|
|
|
|
|
|
|
||
RO |
RO-24-010 |
37.70 |
40.20 |
2.50 |
140 |
68 |
0.64 |
0.59 |
0.16 |
0.00 |
|
|
|
|
|
|
|
|
|
||
RO |
RO-24-012 |
48.60 |
53.14 |
4.54 |
187 |
176 |
0.06 |
0.20 |
0.02 |
0.01 |
including |
51.17 |
53.14 |
1.97 |
338 |
320 |
0.09 |
0.39 |
0.02 |
0.01 |
|
|
|
|
|
|
|
|
|
|
||
RO |
RO-24-013 |
52.19 |
52.84 |
0.65 |
162 |
137 |
0.09 |
0.54 |
0.13 |
0.01 |
|
|
|
|
|
|
|
|
|
||
RO |
RO-24-014 |
132.15 |
133.17 |
1.02 |
285 |
119 |
0.30 |
3.93 |
1.33 |
0.02 |
RO |
RO-24-014 |
139.88 |
140.57 |
0.69 |
431 |
161 |
0.02 |
4.90 |
5.05 |
0.04 |
RO |
RO-24-014 |
144.00 |
144.35 |
0.35 |
168 |
96 |
0.01 |
2.15 |
0.49 |
0.02 |
|
|
|
|
|
|
|
|
|
||
NEW |
RO-24-015 |
21.30 |
21.55 |
0.25 |
182 |
69 |
0.03 |
2.19 |
1.90 |
0.03 |
NEW |
RO-24-015 |
66.83 |
67.47 |
0.64 |
205 |
83 |
0.25 |
3.37 |
0.41 |
0.02 |
NEW |
RO-24-015 |
75.67 |
76.70 |
1.03 |
711 |
300 |
0.04 |
8.83 |
6.26 |
0.34 |
including |
76.35 |
76.70 |
0.35 |
1,791 |
842 |
0.10 |
24.79 |
10.10 |
0.94 |
|
RO |
RO-24-015 |
99.08 |
99.81 |
0.73 |
174 |
106 |
0.01 |
2.04 |
0.45 |
0.03 |
RO |
RO-24-015 |
105.40 |
106.20 |
0.80 |
175 |
76 |
0.28 |
1.11 |
1.71 |
0.04 |
RO |
RO-24-015 |
106.94 |
110.85 |
3.91 |
598 |
501 |
0.38 |
1.21 |
1.23 |
0.08 |
including |
107.50 |
108.00 |
0.50 |
1,170 |
1,035 |
0.30 |
1.45 |
2.64 |
0.09 |
|
and |
109.50 |
110.85 |
1.35 |
1,071 |
913 |
0.75 |
2.04 |
1.58 |
0.17 |
|
|
|
|
|
|
|
|
|
|
||
NEW |
RO-24-016 |
60.30 |
60.53 |
0.23 |
301 |
134 |
0.03 |
3.29 |
2.82 |
0.13 |
RO |
RO-24-016 |
75.23 |
75.84 |
0.61 |
141 |
54 |
0.04 |
2.19 |
0.91 |
0.03 |
RO |
RO-24-016 |
78.82 |
82.34 |
3.52 |
181 |
48 |
0.11 |
2.13 |
2.44 |
0.04 |
including |
78.82 |
79.32 |
0.50 |
498 |
165 |
0.09 |
5.37 |
6.70 |
0.05 |
|
and |
81.84 |
82.34 |
0.50 |
338 |
75 |
0.39 |
3.77 |
4.79 |
0.12 |
|
|
|
|
|
|
|
|
|
|
||
RO |
RO-24-017 |
110.78 |
112.26 |
1.48 |
225 |
142 |
0.09 |
1.63 |
1.18 |
0.03 |
|
|
|
|
|
|
|
|
|
||
RO |
RO-24-018 |
79.33 |
79.83 |
0.50 |
928 |
892 |
0.42 |
0.04 |
0.05 |
0.01 |
|
|
|
|
|
|
|
|
|
||
RO |
RO-24-020 |
69.84 |
71.71 |
1.87 |
300 |
223 |
0.16 |
2.35 |
0.08 |
0.01 |
including |
69.84 |
70.30 |
0.46 |
588 |
504 |
0.20 |
2.47 |
0.04 |
0.02 |
|
|
|
|
|
|
|
|
|
|
||
RO |
RO-24-021 |
90.72 |
91.14 |
0.42 |
141 |
113 |
0.12 |
0.61 |
0.05 |
0.01 |
|
|
|
|
|
|
|
|
|
||
C340 |
RO-24-022A |
53.45 |
53.81 |
0.36 |
176 |
95 |
0.36 |
1.54 |
0.43 |
0.02 |
RO |
RO-24-022A |
183.00 |
184.47 |
1.47 |
682 |
469 |
0.07 |
5.00 |
2.67 |
1.89 |
including |
183.50 |
184.47 |
0.97 |
900 |
597 |
0.08 |
7.44 |
3.54 |
1.82 |
|
|
|
|
|
|
|
|
|
|
||
C340 |
RO-24-023A |
59.90 |
60.40 |
0.50 |
166 |
114 |
0.05 |
1.40 |
0.37 |
0.05 |
RO |
RO-24-023A |
186.77 |
187.27 |
0.50 |
228 |
29 |
0.04 |
0.30 |
6.89 |
0.13 |
|
|
|
|
|
|
|
|
|
||
RO |
LBT-11-01 |
286.70 |
292.60 |
5.90 |
268 |
225 |
- |
0.88 |
0.74 |
0.03 |
including |
288.55 |
289.15 |
0.60 |
523 |
363 |
- |
2.95 |
2.97 |
0.04 |
|
and |
291.30 |
292.60 |
1.30 |
670 |
623 |
- |
1.00 |
0.73 |
0.10 |
|
|
|
|
|
|
|
|
|
|
|
|
RO |
ILP-RO-14-18 |
69.05 |
72.25 |
3.20 |
246 |
111 |
0.47 |
1.53 |
2.05 |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
RO |
ILP-RO-18-60 |
131.45 |
137.70 |
6.25 |
434 |
185 |
0.02 |
6.49 |
2.68 |
0.04 |
including |
131.45 |
132.90 |
1.45 |
1,167 |
532 |
0.01 |
18.13 |
5.37 |
0.04 |
|
|
|
|
|
|
|
|
|
|
|
|
RO |
ILP-RO-14-10 |
25.70 |
26.75 |
1.05 |
177 |
94 |
0.01 |
0.78 |
2.25 |
0.01 |
and |
27.55 |
27.90 |
0.35 |
192 |
176 |
0.01 |
0.18 |
0.39 |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
RO |
ILP-RO-14-08 |
26.90 |
29.35 |
2.45 |
195 |
148 |
- |
0.56 |
1.16 |
0.04 |
|
|
|
|
|
|
|
|
|
|
|
RO |
ILP-RO-14-26 |
86.70 |
87.00 |
0.30 |
313 |
85 |
2.09 |
1.58 |
0.63 |
0.01 |
and |
89.00 |
89.40 |
0.40 |
268 |
178 |
0.02 |
2.07 |
1.19 |
0.03 |
|
|
|
|
|
|
|
|
|
|
|
|
RO |
ILP-RO-18-57 |
103.85 |
104.15 |
0.30 |
262 |
80 |
0.07 |
3.88 |
2.63 |
0.02 |
|
|
|
|
|
|
|
|
|
|
|
RO |
ILP-RO-18-71 |
128.05 |
128.80 |
0.75 |
493 |
201 |
1.22 |
2.64 |
4.51 |
0.08 |
|
|
|
|
|
|
|
|
|
|
|
RO |
ILP-RO-18-52 |
86.35 |
86.60 |
0.25 |
205 |
101 |
0.06 |
2.10 |
1.54 |
0.02 |
|
|
|
|
|
|
|
|
|
|
|
RO |
ILP-RO-18-49 |
93.85 |
94.95 |
1.10 |
239 |
141 |
0.18 |
1.31 |
1.82 |
0.04 |
|
|
|
|
|
|
|
|
|
|
|
RO |
ILP-RO-18-45 |
99.55 |
99.90 |
0.35 |
168 |
57 |
0.22 |
1.70 |
1.75 |
0.01 |
and |
103.50 |
104.25 |
0.75 |
152 |
61 |
0.01 |
2.38 |
0.97 |
0.01 |
|
and |
106.50 |
106.75 |
0.25 |
436 |
211 |
0.01 |
6.31 |
2.05 |
0.02 |
|
|
|
|
|
|
|
|
|
|
|
|
RO |
ILP-RO-18-48 |
85.65 |
86.25 |
0.60 |
303 |
250 |
0.02 |
1.04 |
0.87 |
0.04 |
|
|
|
|
|
|
|
|
|
|
|
RO |
RO-10 |
427.50 |
428.50 |
1.00 |
214 |
143 |
0.21 |
1.00 |
1.00 |
0.05 |
|
|
|
|
|
|
|
|
|
|
|
RO |
RO-22 |
385.10 |
385.90 |
0.80 |
277 |
197 |
0.12 |
2.09 |
0.56 |
0.02 |
|
|
|
|
|
|
|
|
|
|
|
RO |
ILP-RO-18-55 |
129.50 |
130.20 |
0.70 |
280 |
151 |
0.05 |
4.06 |
0.56 |
0.04 |
-
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, andUS$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.
Sample Analysis and QA/QC Program
Silver Storm uses a quality assurance/quality control (QA/QC) 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
Review by Qualified Person and QA/QC
The scientific and technical information in this document has been reviewed and approved by
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Cautionary Note Regarding Forward Looking Statements:
Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of the phrase ‘forward-looking information’ in the Canadian Securities Administrators’ National Instrument 51-102 – Continuous Disclosure Obligations. Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management and Qualified Persons (in the case of technical and scientific information) expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the future exploration performance at La Parrilla, the timing and extent of current and future drill programs, the ability to increase Mineral Resources therein, and the ability to eventually place the
In making the forward-looking statements included in this news release, the Company and Qualified Persons (in the case of technical and scientific information) have applied several material assumptions, including that the Company´s financial condition and development plans do not change because of unforeseen events, that future metal prices and the demand and market outlook for metals will remain stable or improve, management’s ability to execute its business strategy and no unexpected or adverse regulatory changes with respect to La Parrilla. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, there being no assurance that the Company’s current and future exploration programs will grow the Mineral Resource base or upgrade Mineral Resource confidence, the risk that the assumptions referred to above prove not to be valid or reliable, the risk that the Company is unable to achieve its goal of placing La Parrilla back into production; market conditions and volatility and global economic conditions including increased volatility and potentially negative capital raising conditions resulting from the continued or escalation of the COVID-19 pandemic, risk of delay and/or cessation in planned work or changes in the Company’s financial condition and development plans; risks associated with the interpretation of data (including in respect of third party mineralized material) regarding the geology, grade and continuity of mineral deposits, the uncertainty of the geology, grade and continuity of mineral deposits and the risk of unexpected variations in Mineral Resources, grade and/or recovery rates; risks related to gold, silver and other commodity price fluctuations; employee relations; relationships with and claims by local communities and indigenous populations; availability and increasing costs associated with mining inputs and labour, the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits and the presence of laws and regulations that may impose restrictions on mining, including the Mexican mining reforms; risks relating to environmental regulation and liability; the possibility that results will not be consistent with the Company’s expectations.
Such forward-looking information represents managements and Qualified Persons (in the case of technical and scientific information) best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240527198653/en/
For additional information:
Ph: +1 (416) 504-2024
greg.mckenzie@silverstorm.ca
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