Silver Valley Metals Announces Commencement of Ground Geophysical Survey on Entire Ranger-Page Project
Vancouver, British Columbia – August 11, 2021 – Silver Valley Metals Corp. (“Silver Valley Metals” or “the Company”) (TSX-V:SILV / FSE:L3U / OTC:BNRJF) is pleased to announce that it has commenced a ground geophysical survey on the entire Ranger-Page Project (the “Project”) in the Silver Valley, Idaho. The survey will be a first for the Project. It is anticipated to be completed in the fourth quarter of 2021. The Company is currently finalizing its 3D digital geological model sourced from a comprehensive underground workings database which will be utilized alongside the geophysical survey to identify drill targets for the Company’s maiden diamond drill program anticipated to start towards the end of 2021.
The survey will be conducted by Gradient Geophysics (“Gradient”) from Missoula, Montana and will be comprised of two phases. The first phase is a continuous reading magnetometer survey in conjunction with a VLF-EM survey (readings every 10 meters) at 120 meter line spacing. The second phase will be a high-resolution induced polarization (“IP”) survey oriented north-south at the same line spacing of 120 meters. The IP data is planned to detail the east-west vein systems and will be presented in 3D color contour plots. Furthermore, a high-resolution surface lidar and imagery collection over the entirety of the survey area is underway and anticipated to be completed prior to geophysical data collection.
Silver Valley Metals President & CEO and Director, Brandon Rook commented “We are excited to commence the geophysical survey at the Company’s flagship Ranger-Page Project, as part of the exploration and development program for the 2021 season. Gradient’s high resolution magnetometer system coupled with detailed IP in 3D imaging is a proven exploration tool and will help us delineate and increase our confidence on several promising targets. Gradient’s previous experience in the Silver Valley and understanding of the area’s geology bodes well for Silver Valley Metals in the lead up to drill target definition. Combined with surface geochemistry, bedrock and alteration mapping, underground 3D geological modelling and ground-based geophysics, we expect that targets developed using the detailed geophysics dataset will increase our confidence in advancing these targets to the drilling stage. It is our goal to identify a number of geophysical anomalies throughout the property in order to further prioritize drill targets for our maiden diamond drill program at Ranger-Page.”
The Ranger-Page Project was never consolidated within one company and was owned historically by up to five different groups, thereby limiting mining capabilities because of disjointed small scale mining operations. Despite bordering two prolific past producing mines, the Ranger-Page Project has remained unavailable for exploration and development over the past 80 years due to claim boundary issues between Bunker Hill Mining and ASARCO, as well as the subsequent transfer of the property to the US Environmental Protection Agency and the closure of the area for mining in the late 1970’s. Today, the Project is consolidated, free of encumbrances, and open for exploration and development once again.
Ranger-Page Project Highlights:
- Patented Lode Claims – Ownership of both surface and mineral rights; no Federal permitting required; permitting with the State of Idaho is efficient; no pre-existing royalties.
- Top Tier Mining Jurisdiction – Focused on The Silver Valley within the Coeur d’Alene Mining District in Idaho, a prolific mining jurisdiction ranked 9th in the world (source: 2020 Fraser Institute Annual Survey).
- Bordering Two Major Mines – The Bunker Hill Mine and the Page Mine border the Project on the east and west boundaries and historically mined into the Ranger-Page Project area. Mined to depths of 5,800 feet and 3,400 feet below elevation, respectively.
- Historical Production – 5 historic mines; 4 of 5 historic mines on the Ranger-Page Project explored and mined to ~200 feet below surface. The 5th historic mine, the Blackhawk Mine, mined to ~1,200 feet below surface.
- Secondary Source of Ore Feed – The Blackhawk Mine was a secondary source for ore grade mill feed to the Page Mine for 21 years. Blackhawk ceased being a lease mine to ASARCO’s Page Mine in the mid-1900’s.
- Exploration Potential at Depth and Along Strike – The east-west striking veins at the Project have been partially explored with evidence that there is continuation throughout the Project area. Strong evidence that mineralization continues from where historical underground mining operations ceased.
- Established and Nearby Infrastructure – 1 km from Interstate 90 Highway and 1.2 km from mining town of Smelterville, Idaho. Access to a well-trained exploration and underground mining workforce.
- Mill Nearby – One operating flotation mill available to purchase or lease (within 10 km) and a 4-hour drive to the smelter in Trail, BC.
- Experienced Management – Operations team in Idaho with deep roots into the area.
Timothy Mosey, B.Sc., M.Sc., SME, is the Qualified Person (“QP”) for the Company and qualified person as defined by National Instrument (“NI”) 43-101. Mr. Mosey supervised the preparation of the technical information in this news release.
About Silver Valley Metals Corp.
Silver Valley Metals is a brownfields exploration company focused on its flagship Ranger-Page Project located in the prolific Silver Valley of Idaho, 60 kilometres east of Coeur d’Alene and 1 kilometre from the I-90 freeway. Idaho was ranked the 9th best mining jurisdiction in the world in 2020 (Fraser Institute 2020 Annual Mining Survey). The Project is strategically located bordering two large mines, Bunker Hill to the east and Page to the west. Five historic mines are on the Project with underground mining data and surface geological data supporting high grade silver-zinc-lead mineralization present within the shallow, undeveloped mines. These mines remain open at depth, and laterally along strike, with no modern systematic exploration applied to the Project.
The Company also has a 100%-owned 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. The Company is led by an experienced group of mining, financing, and exploration specialists.
On behalf of the Board of Directors of Silver Valley Metals,
Brandon Rook, President & CEO, Director
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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.