Vancouver, British Columbia--(Newsfile Corp. - September 12, 2022) - Silver Valley Metals Corp. (TSXV: SILV) (OTCQB: SVMFF) ("Silver Valley" or the "Company"), a brownfields exploration Company with two potential high impact projects that comprise lithium - potassium (sulphate of potash) located in Zacatecas and San Luis Potosi, Mexico and silver-zinc-lead located in Idaho, USA respectively, is pleased to provide an exploration update from its Ranger-Page Project, Silver Valley, Idaho.
The Company has successfully completed phase-one of the 2022 exploration campaign and has recently initiated a second exploration phase which is scheduled to continue through November 2022. Results from phase-one have produced numerous high priority follow-up targets including near surface newly discovered mineralized vein structures and additional targets located at relatively shallow depths (<100 metres) identified from three progressive stages of IP geophysical surveys and magnetic surveys.
High priority targets, which are the focus of the phase-two exploration activities are located within 4 new areas outside of the known projections from underground mineralization. Drill targets at these known locations are currently being refined as geophysical data is interpreted. This is a significant development for the project as the potential mineral endowment has increased significantly using modern exploration techniques for the first time. Ongoing geophysical interpretations, a fourth phase of IP geophysics, geochemical surveys, trenching, sampling, and geological mapping are the focus for phase-two exploration work. Integration of a recently completed LIDAR program will further improve the Companies modern data set. These combined achievements will validate existing drill targets and refine new drill targets in preparation for an inaugural drill program.
The four new target areas are:
- A strong geophysical anomaly approximately 600 metres in strike length, trending northwest-southeast has been defined between the underground workings at the Blackhawk Mine (located centrally in the project area) through to the Wyoming and Ranger mine complex (located in the central eastern part of the project area). This trend extends several hundred metres beyond the complex to the southeast. This is significant as vein structures can strike over great lengths in the Silver Valley, and both these mines remain open along strike and at depth. This newly identified trend strikes similarly to the Bluebird-type vein structures, which were the main productive veins at Bunker Hill. Very large ore shoots occur in the Bunker Hill mine where the east-northeast veins (Blackhawk, Ranger, Wyoming) intersect Bluebird-type veins in the prolific Revett formation;
- Vein structures on surface have been discovered in the northern area of the project, between the Curlew mine (located to the east of the past producing Page Mine) and the Blackhawk mine (located west of these newly discovered vein structures);
- South of the Osburn fault located in the north-eastern part of the project area, (this fault being a major control structure for the entire Silver Valley), the Company is working up a potential new discovery that exhibits strong structural potential from field work coincident with a significant geophysical signature; this target is coincident with the past producing Crown Point mine and these new drill targets appear near surface;
- A coincident target in the south-central area of the project, located alongside the Spring Fault. The Spring fault runs parallel and approximately 1.5 to 2.0 kilometers south of the Osburn fault. The newly discovered target area is approximately 250 metres x 200 metres and is in the hanging wall of the Spring Fault which is important for the exploration potential of this anomalous area. Also, the target is in the Revett formation which is the primary formation for ore production in the Silver Valley.
Ranger-Page Project
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New Target Areas
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To view an enhanced version of the new target area locations:
To view the corporate presentation please click:
https://silvervalleymetals.com/wp-content/uploads/2022/08/svm-presentation-220812.pdf
Lastly, over the past several months, the Company has been compiling a significant amount of newly acquired historical data including detailed underground maps of the Page Mine and surrounding project area. This new data has complemented our existing underground and surface database that is reflecting an even greater opportunity for the Company to have exploration success in this under-explored area of the western end of the Silver Valley mining corridor.
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: MexiCan lithium - potassium (sulphate of potash) project:
Silver Valley owns a 100% interest in a lithium and potassium bearing salar complex comprising 4,059 hectares on three mineral concessions (the "Mexican Projects") 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.
About: Ranger-Page project:
Silver Valley's primary focus is on its flagship Ranger-Page Project ("The Project") located in the Silver Valley of Idaho, 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 is on patented claims, there are no royalties and comprise 6 historical mines. The largest of these, the Page Mine, was a top ten producer in the Silver Valley producing over 1 billion pounds of zinc and lead and 14.6 million ounces of silver. The Page Mine has high grade silver-zinc-lead historic reserves and remains wide open at depth beyond what has been defined to date.
There is shared underground infrastructure connecting 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 historical mines is considered significant due to no modern systematic exploration applied to the project.
About Silver Valley Metals Corp.
We are a group of experienced exploration, mining, and financing specialists focused on the pursuit of mineral discovery and development. Our expertise in evaluating targets, consummating strategic and accretive outright sales, joint ventures, and /or acquisitions while maintaining a favourable share structure via the least dilutive option is the mandate for Silver Valley Metals Corp. We look to further de-risk potential projects via obtaining historical geological data that reflects untapped exploration potential that are in top tier mining jurisdictions preferably near producing mines.
On behalf of the Board of Directors of Silver Valley Metals,
"Brandon Rook"
Brandon Rook, President & CEO, Director
For further information please contact us at:
604-800-4710
info@silvervalleymetals.com
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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