- Early success identifying vein structures at surface at the
silver-rich Crown Point Mine and surrounding target
area
- First of six high priority targets project-wide to be
exposed at surface
- Early success at Crown Point exposing vein structures at
surface validating the first phase mineralization identification
program from 2022 that included ground geophysics, surface
geochemistry, structural mapping, underground database compilation,
3D modeling
- Final phase of exploratory work that is refining drill
targeting and de-risking the inaugural drill campaign anticipated
to commence later in 2023
VANCOUVER, BC, June 8, 2023
/CNW/ - Silver Valley Metals Corp. (TSXV: SILV) (OTCQB: SVMFF)
("Silver Valley" or the "Company") announces that the Company has
commenced a multi-kilometer trenching program at its Ranger-Page
Project located in the Silver
Valley of north Idaho,
USA. The trenching and field program is designed to expose
veins on surface at multiple areas. By exposing vein
structures in multiple areas on surface, the dip and trend of these
structures will be clearly identified.
A comprehensive geological model has been developed along with
the integration of the highly anomalous results from the first
modern exploration program in 2022 at Ranger-Page. These
results, combined with the field and trench program, will
significantly assist the Company in targeting the vein structures
near surface and at depth for the upcoming drilling campaign
scheduled later this year.
Work that has just been initiated at the Company's first
high-priority target, the Crown Point Mine and surrounding area has
already revealed significant vein structures being identified on
surface in multiple locations (see Figure 1).
These new discoveries which were found in quick order
validates the comprehensive exploration program from 2022.
Results at these new surface discoveries will be reported
after assay data is received and compiled.
A video depicting a 3D view of the Crown Point exploration
anomaly can be viewed
here: https://www.youtube.com/watch?v=0FwaLUxMLTA
CEO, Mr. Brandon Rook, commented,
"We are extremely pleased to have identified the first
surface expression of the Crown Point vein structure as it
validates the team's conclusions from the first phase of
exploration. By understanding the location of the vein
structures on surface in multiple locations, we are better able to
situate the drill platforms for the upcoming drilling
program.
This exciting development is consistent with the IP and
Resistivity geophysics, surface geochemistry analysis, and field
work of 2022 which confirms what we were anticipating at this stage
- to identify vein structures on surface associated with the
historic Crown Point mine and, more importantly, laterally away
from the small underground footprint of workings before we drill
test for mineralization at depth."
The Company plans to trench other high priority targets that are
located parallel to Crown Point, working southward to the other
high priority targets: first, East Curlew then to
Ranger-Wyoming followed by
Buckeye, then to Spring and lastly, the upper Blackhawk (see
Figure 1).
The historic Crown Point mine operated between 1886 and 1940,
producing silver and lead only. Zinc was never recovered due
to the lack of technology to recover zinc at that time. The
Company expects a component of zinc to be present when the Crown
Point is drilled. Silver produced from the Crown Point mine
represented the highest grades of any of the historic mines on the
Ranger-Page project.
The Crown Point target is located 1,000
metres northwest from the Bunker Hill mine, one of
America's largest underground mines, and located 650
metres due east from the past producing Blackhawk Mine
(owned by Silver Valley Metals Corp.) which remains open at depth
below 365 metres. The Crown Point Mine is located 1,650
metres east from the Company's top ten historical producer
in the District, the Page Mine. The Page Mine has exploration
drilling with compelling intercepts that extend mineralization
beyond high-grade historical reserves located at the bottom of the
mine.
Qualified person:
Timothy Mosey, BSc, MSc, SME, is
the qualified person for the company and qualified person as
defined by National Instrument 43-101. Mr. Mosey supervised the
preparation of the technical information in this news release.
About Silver Valley Metals Corp.:
Silver Valley Metals Corp. is a Canadian exploration company
comprised of a group of experienced exploration, mining, and
financing specialists focused on the pursuit of mineral discovery
and development. We are focused on the advancement of strategic and
precious mineral properties including Lithium-Potash in
Mexico and Silver-Zinc-Lead in
northern Idaho,
USA.
About Ranger-Page project:
The Ranger-Page Project ("The Project") is in the Silver Valley of northern Idaho, USA, 60 kilometres east of Coeur
d'Alene and 1 kilometre from the I-90 freeway. In 2020 Idaho
was ranked the first in the world in policy perception and 9th best
mining jurisdiction (Fraser Institute Annual Mining Survey).
The Project borders the famous Bunker Hill Mine to the east
and for the first time consolidates the western extent of the
prolific Silver Valley mining
corridor by one operator in the past 100+ years.
The Project comprises 6 historical mines on patented claims,
without royalties. The largest of these, the Page Mine, was a top
ten producer in the Silver Valley
yielding over 1.1 billion pounds of zinc and lead and 14.6 million
ounces of silver. The Page Mine has high grade silver-zinc-lead
historic resources and remains open at depth and along strike
beyond what has been identified to date.
Historical mining on the properties shared underground
infrastructure which connected the larger Page mine with five
shallow historic mines within the larger Project area. The Company
has underground mining data and surface geological data that
supports high grade silver-zinc-lead mineralization present within
the shallow, undeveloped mines. These mines remain open at
depth, and laterally along strike.
Exploration potential beyond the historic mines is considered
significant as modern systematic exploration is being applied to
the project for the first time.
About MexiCan Lithium - Potassium (sulphate of
potash) Project:
Silver Valley Metals Corp. owns a 100% interest in a lithium and
potassium bearing salar complex comprising 4,056 hectares on three
mineral concessions ("the Mexico-Canada Project" or "MexiCan
Project") located on the Central Mexican Plateau in the states of
Zacatecas, and San Luis Potosi, Mexico. The NI 43-101
inferred mineral resource contains 12.3Mt of Sulfate of Potash
(SOP) and 243,000 tonnes of lithium carbonate equivalent (LCE) and
remains open in all directions for expansion.
On behalf of the Board of Directors of Silver Valley Metals
Corp.,
"Brandon Rook"
Brandon Rook, President &
CEO, Director
Link to Website: http://www.silvervalleymetals.com
Social Media:
Facebook:
https://www.facebook.com/silvervalmetals
Twitter: https://twitter.com/silvervalmetals
Instagram: https://www.instagram.com/silvervalmetals
Linked-In: https://www.linkedin.com/company/silvervalmetals
YouTube: https://youtube.com/@silvervalmetals
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains "forward-looking
statements" within the meaning of applicable securities
legislation. Forward-looking statements relate to information that
is based on assumptions of management, forecasts of future results,
and estimates of amounts not yet determinable. Any statements that
express predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance are not
statements of historical fact and may be "forward-looking
statements." Forward-looking statements are subject to a variety of
risks and uncertainties which could cause actual events or results
to differ from those reflected in the forward-looking statements,
including, without limitation: risks related to failure to obtain
adequate financing on a timely basis and on acceptable terms; risks
related to the outcome of legal proceedings; political and
regulatory risks associated with mining and exploration; risks
related to the maintenance of stock exchange listings; risks
related to environmental regulation and liability; the potential
for delays in exploration or development activities or the
completion of feasibility studies; the uncertainty of
profitability; risks and uncertainties relating to the
interpretation of drill results, the geology, grade and continuity
of mineral deposits; risks related to the inherent uncertainty of
production and cost estimates and the potential for unexpected
costs and expenses; results of prefeasibility and feasibility
studies, and the possibility that future exploration, development
or mining results will not be consistent with the Company's
expectations; risks related to commodity price fluctuations; and
other risks and uncertainties related to the Company's prospects,
properties and business detailed elsewhere in the Company's
disclosure record. Should one or more of these risks and
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described
in forward-looking statements. Investors are cautioned against
attributing undue certainty to forward-looking statements. These
forward-looking statements are made as of the date hereof and the
Company does not assume any obligation to update or revise them to
reflect new events or circumstances. Actual events or results could
differ materially from the Company's expectations or
projections.
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SOURCE Silver Valley Metals Corp.