Vancouver, British Columbia – February 22, 2023 – Silver Valley Metals Corp. (TSXV: SILV) (OTCQB: SVMFF) (“Silver Valley” or the “Company”), is pleased to announce a new and significant exploration target discovery, the Spring target, outside the areas of known mineralization and historic mines at the Ranger-Page Project, Silver Valley, Idaho.
To view the Spring Target in a 3-D multi-media audio-video click: https://tinyurl.com/yc7327fs
Highlights:
- The highest priority target defined to date at the project and the first target located outside the area of the historic mines on the project
- A very large and significant near surface coincident Induced Polarization and Resistivity anomaly measuring 850 metres of strike length and 375 metres of down dip extension from near surface identified
- Very importantly, the target is located at the intersection of the geologically significant Government Gulch Fault and Spring Fault. Both faults extend through to the adjacent Bunker Hill property and are regarded as important emplacement structures
- These faults intersect on the Ranger-Page project only
- The Spring-Government Gulch fault intersection is analogous to the Page-Curlew fault intersection on the project, which is related to the formation of the historic and top ten historical producer in the District, Page Mine (owned by Silver Valley)
- Zinc, lead, and copper – strong anomalous surface geochemistry results collected on top of the Resistivity and Induced Polarization anomalies and at the intersection of two major faults on the project further validates the future potential of a discovery
- Situated approximately 850 metres due south of the Company’s Blackhawk mine and 1250 metres southeast of the Company’s Page Mine
- One of seven high priority large target areas defined from the 2022 exploration campaign all constrained within a relatively small 3km x 2km area
To view exploration results in presentation format, click: https://tinyurl.com/48hwhf8d
“We are very pleased to announce the discovery of the new Spring target. In an area where there had been no previous surface exploration or production, geophysics IP, resistivity and surface geochemical surveys conducted by our field team during the 2022 field season uncovered a significant anomaly which provides us with a very large target in a new zone.
With this excellent exploration opportunity at a key structural intersection, Silver Valley Metals’ Spring Target, one of seven on the Ranger-Page project, becomes the Company highest priority to drill test at the start of Q3, 2023,” states CEO, Brandon Rook.
The Spring target is located 1,250 metres southeast from the Company’s high-grade and top ten past-producer in the District, Page Mine, and located 850 metres due south from the past producing and relatively shallow Blackhawk Mine (option to own for Silver Valley – see news release dated February 9th, 2023, for exploration results at Blackhawk: https://tinyurl.com/2fcvdw4v.
The Spring target is one of seven high priority target areas that the Company has defined from its successful 2022 exploration campaign. Importantly, all high priority areas are constrained to a relatively small area approximately 3 kilometres X 2 kilometres and each target shows significant strike and depth potential.
To view an enhanced version: Spring Target Area: please click https://tinyurl.com/2p8n435t
Geophysics: Induced Polarization
The ground Induced Polarization and Resistivity surveys indicate a significant and coincident anomaly exists on and at near surface. The I.P. measures a lateral strike length of 400 metres and down-dip vertical extent of 300 metres while the Resistivity survey measures a lateral strike length of 850 metres and down-dip vertical extent of 375 metres.
The background Induced Polarization readings observed at the Spring targets host rocks was measured at 0-4 msec, as compared to the background observed at the Prichard formation (+20 msec) located west and south of the Spring target. The Spring Induced Polarization anomaly ranges between 4 and 12 msec, which is an anomalous result from the widespread dataset accumulated during the program.
To view an enhanced version of the Spring target figure – Geophysics: Induced Polarization Anomaly please click https://tinyurl.com/2yjhxk6f
Geophysics: Resistivity
A significant increase in resistivity values at the Spring target is an indication of silicification alteration, which is closely associated with mineralization emplacement in the Coeur d’Alene mining district. Resistivity values are significantly elevated greater than +2,000 ohm which represents the strongest geophysical signature encountered from the 2022 exploration campaign.
To view an enhanced version of the Spring Target figure – Geophysics: Resistivity Anomaly please click https://tinyurl.com/yckddbyw
Geochemical Program:
A surface geochemical program was initiated to further validate the ground geophysics results and structural mapping program. Samples were collected from the B and C soil horizons on a 30-metre spacing. At each location, a pit was dug until refusal (could not dig deeper). The B and C soil horizons were sampled separately to assess and compare geochemical results from Ranger-Page weathered bedrock and soils to results published in other Silver Valley geochemical studies. Samples were described, photographed, staked and location data collected via GPS. Results were loaded into Leapfrog Geo and displayed via a proportional grade plot to highlight high values.
Results over the Spring target are summarized below. The geochemical survey used to validate the Spring Target reflects positive results, including significant elevated lead, zinc and copper values up to 68ppm, 946ppm and 119 ppm respectively. Background levels of lead, zinc and copper in the project area are typically 10 ppm, 40 ppm, 6 ppm respectively based on all 2022 Silver Valley Metals geochemical data. Trace element vector analysis is ongoing, and we expect will further validate the Spring target.
Geochemical Results:
B Horizon Geochemical Results:
C Horizon Geochemical Results:
Lab Analysis – QA-QC:
Atomic absorption analysis for Silver:
American Analytical Services, Inc (“AAS”) is an ISO/IEC 17025 accredited laboratory, located in Osburn Idaho. All analysis includes quality control measures to ensure an acceptance standard established within AAS methods. All samples sent to AAS were checked for accuracy between the chain of custody and the samples with the client present. Samples are dried before starting the prep process. The prep process includes crushing the sample in its entirety to 80% passing a 10 mesh, split in a riffle box to make a 250g sub-sample and pulverized to 85% passing a 140 mesh. Analysis for AA-Ag is done by 2 or 4 acid digestion. Detection limit for AA-Ag is 0.100 Oz/ton – 15.0 Oz/ton. Any results over the detection limit are sent to fire assay to do Ag gravimetric finish.
ICP-OES analysis for 35 element analysis:
All samples are subjected to a 4-acid digestion. Digestion QC consists of a reagent blank, control standard and for every 20 samples there is a duplicate of a sample pulp to check RPD. To begin ICP-OES analysis, the instrument is standardized with the five working standard solutions (multi-point linear fitting). Samples are then measured with the reagent blank, control standard and a CCV (continuous calibration verification). Once samples are analyzed, all QC is checked, and results are sent to LIMS system to be made into the client’s report.
Social Media:
Facebook: https://www.facebook.com/silvervalmetals
Twitter: https://twitter.com/silvervalmetals
Instagram: https://www.instagram.com/silvervalmetals
Linkedin: https://www.linkedin.com/company/silvervalmetals
Youtube: https://youtube.com/@silvervalmetals
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 Metals Corp. 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:
The Ranger-Page Project (“The Project”) is in the Silver Valley, 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 reserves 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: Silver Valley Metals:
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.
Link to Website: http://www.silvervalleymetals.com
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
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.