Vancouver, British Columbia – April 11, 2023 – Silver Valley Metals Corp. (TSXV: SILV) (OTCQB: SVMFF) (“Silver Valley” or the “Company”), a brownfield exploration Company with two potential high impact projects that comprise silver-zinc-lead located in north Idaho, USA and lithium – potassium (sulphate of potash) located in Zacatecas and San Luis Potosi, Mexico respectively, is pleased to provide strong exploration results from the Ranger-Wyoming target, related to an under-developed complex of historical mine workings, at the Ranger-Page Project, Silver Valley, Idaho.
To view the Ranger-Wyoming Target in a 3-D multi-media audio-video click: https://tinyurl.com/yc7327fs
Highlights:
- Largest anomalous target area defined at the project.
- Significant coincident induced polarization and resistivity geophysical anomalies measuring approximately 1,200 metres in strike length and up to 600 metres depth along the prominent 96 Fault structure that projects into the Bunker Hill mine hosting significant high-grade mineralization adjacent to the project area.
- High values of silver, zinc, lead, and copper in soil and located coincident with the geophysics anomalies and on top of the 96 Fault with silver values as high as 21.9 g/t, lead values up to 7,640 ppm, copper values up to 339 ppm and zinc values up to 274 ppm. Cadmium, arsenic, and antimony are also elevated which are strong indicators of silver and lead mineralization found in the District.
- Related to the Ranger-Wyoming complex historical mine workings.
- The Ranger-Wyoming target is situated parallel approximately 200 metres south of the East Curlew and Blackhawk targets.
- First assessment of the Ranger-Wyoming target and ’96 Fault’ with modern exploration technologies.
Dale Moore, Exploration Director for Silver Valley Metals, comments, ”We are excited about the target rich environment we have developed at the Ranger-Page project over the past year. This latest target at the Ranger-Wyoming complex is located along the 96 Fault, an important fault on our project, and at the Bunker Hill Mine located next door. The Ranger-Wyoming complex of underground workings mined mineralization related to the 96 fault and now, nearly 100 years later, we think we’ve located its extension.“
To view exploration results in Presentation format, click: https://tinyurl.com/2duxbskr
Brandon Rook, CEO, stated, “Our exploration efforts at Ranger-Page Project have paid off nicely with the addition of the Ranger-Wyoming target added to the list of high priority drill-ready targets. The potential extension of mineralization to surface, and along strike is very exciting for the Company, and we look forward to getting the drills turning in this area in 2023. We are using modern exploration techniques for the first time in the project’s history, and it is allowing us to gain a stronger understanding for the potential of these zones.”
Silver Valley Metals’ Ranger – Wyoming target is closely related to the Ranger-Wyoming complex of mine workings, which extracted near surface high-grade silver, zinc, and lead ores. The Ranger and Wyoming deposits are associated with the 96 Fault which is a significant project scale structure traced across much of the Company’s property. The 96 Fault merges with the Buckeye Fault (also a prominent fault) on the eastern edge of the property boundary, immediately east of the target area, where it projects into the Bunker Hill mine. This fault structure has been identified as a strong contributor to silver, zinc, and lead mineralization that has been mined on Bunker Hill’s project.
To view an enhanced version of the Ranger-Wyoming Target Area, please click: https://tinyurl.com/33etaw5d
The exploration team identified a potential extension of the Ranger-Wyoming complex mineralization along strike, and up-plunge of the historic mine workings. Coincident ground induced polarization geophysics and soil geochemical results have constrained a target area with approximate dimensions of 1,200 metres of strike length and 600 metres of dip length. The anomaly is situated in the hanging wall of the 96 Fault representing a significant expansion beyond the known mineralization extent.
The ground induced polarization geophysics results are more than twice the observed background of the host rock and the high values of the resistivity ground geophysics also indicate the possible presence of silicic alteration, which is a strong indicator of mineralization in the Coeur d’Alene mining district.
To view an enhanced version of the Ranger-Wyoming target figure – Geophysics: Induced Polarization Anomaly, please click: https://tinyurl.com/5ysky2yu
To view an enhanced version of the Ranger-Wyoming target figure – Geophysics: Resistivity Anomaly, please click: https://tinyurl.com/bdfubnu7
A comprehensive surface geochemical program was undertaken and was positioned along and on top of the 96 Fault and on and near the geophysics anomalies. Results were significant with silver values as high as 21.9 g/t, lead values up to 7,640 ppm and copper values as much as 339 ppm, and zinc values up to 274 ppm. Cadmium, arsenic, and antimony are also elevated, which are strong indicators of lead and silver mineralization found in the Coeur d’Alene mining district.
Lastly, the historic Ranger-Wyoming complex; positioned closely to the former producing Blackhawk and Crown Point mines, 200 metres north and 500 metres north respectively – were only partially developed, to less than 70 metres in depth. The Ranger-Wyoming target shows great potential for further expansion, laterally and vertically, and the fact that many of the region’s current and historic mines are developed to 1200 metres, 2,500 metres and beyond, the Ranger-Wyoming target is a top priority for the Company’s upcoming drilling program in 2023.
Geophysics: Induced Polarization
Background induced polarization observed in the host rock at the Ranger-Wyoming complex and surrounding area in the western end of the Silver Valley is typically between 0 and 4 msec, as compared to the +20 msec background observed in the Prichard formation to the north of the Osburn Fault. The Ranger-Wyoming induced polarization anomaly are locally as high as 10msec, more than twice the observed background polarization of the host rock. The strike length of this anomaly is approximately 1200 metres. The depth is approximately 600 meters. High overlapping resistivity data at the Ranger-Wyoming target is interpreted to be silicic alteration associated with a potential mineralized system. This is a strong indicator of mineralization in the Coeur d’Alene mining district and complements both the induced polarization response in addition to anomalous geochemistry on surface.
Geochemical Program:
A follow up geochemical program was implemented to further validate the target, and results show the presence of anomalous silver, lead, and copper along the trace of the ‘96 Fault’ in the target area. Soil geochemistry sampling over the induced polarization anomaly shows silver values up to 21.9 g/t compared to a background of <0.1. Lead, and Copper anomalies are as high as 7,640 ppm and 339 ppm respectively. Background levels of lead, copper and zinc in the project area are typically 10 ppm, 6 ppm and 40 ppm respectively based on all 2022 Silver Valley Metals geochemical data. Trace element vector analysis is ongoing, and we expect that will further validate the Ranger-Wyoming target.
Field Program description:
A north-south soil grid oriented over the Induced Polaization anomaly was used to guide sample locations. Samples of the B and C soil horizons were collected on a 30-metre spacing. At each location, a pit was dug until refusal (could not dig deeper). The C and B soil horizons were sampled separately, 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.
B-Horizon Geochemical Sample data:
C-Horizon Geochemical Sample data:
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
Linked-In: 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 4,056 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 Doug Dobbs, Corporate Development Director and Investor Relations at:
509-475-1173, or
604-800-4710
Email: [email protected]
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.