NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWS WIRES
Toronto, Ontario, 7th September 2021: Nevada Silver Corporation (“NSC” or the “Company”) (TSXV: NSC) is pleased to announce commencement of a diamond drilling program on its 100% owned Corcoran Silver-Gold Project (“Corcoran” or the “Project”) located 22 kilometers east of Kinross’s Round Mountain Gold Mine in Nye County, Nevada, USA.
Corcoran includes the Silver Reef near-surface epithermal silver-gold deposit which is a NE-trending mineralized zone 300 meters wide and 1 kilometer long at Silver Reef Hill near the centre of the Project. The Silver Reef deposit is open laterally and at depth and NSC plans to test the mineralization within the area of previous drilling as well as peripheral to the deposit, including a 12 square kilometer zone of prospective rock alteration containing anomalous precious metals.
Initially, eight HQ-sized diamond core verification drill holes are intended to confirm strongly mineralized drill intersections reported by other companies at Silver Reef and will form the first stage of the program (see Figure 1). Historical reported drill intersections to be tested include:
- CC02 (1.5m @ 3,531g/t Ag) as well as (1.5m @ 4,114g/t Ag and 0.27g/t Au)
- CC30 (42.7m @ 390g/t Ag and 0.34g/t Au) as well as (4.6m @ 521g/t Ag and 0.45g/t Au)
- CC38 (6.1m @ 1,874g/t Ag and 2.57g/t Au)
- CCD04 (7.6m @ 1,150g/t Ag and 1.99g/t Au)
- CCD09 (1.5m @ 4,103g/t Ag and 4.08g/t Au)
- CCD15 (23.1m @ 39g/t Ag and 2.15g/t Au) as well as (1.8m of 1,186g/t Ag and 0.89g/t Au)
- CCD21 (14.9m @ 268g/t Ag and 0.38g/t Au)
Figure 1: Planned Phase One Drill Holes
An immediate follow-on program of approximately 20 HQ holes (total 2,000-3,000 meters) will test for extensions to the Silver Reef mineralization and will also provide considerable in-fill data. This drilling is expected to extend the area of known mineralization and will form both the basis for an updated NI 43-101-compliant resource estimate as well as material for metallurgy and mineralogy studies. Additional drill holes may also be undertaken for groundwater, geotechnical and processing investigations.
Figure 2: Falcon Drilling rig operating at Corcoran
Figure 3: Drill core from CC21-VA
The scientific and technical data contained in this news release was reviewed and approved by Ian James Pringle PhD, who is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
For further Information please contact:
Group CEO & Director
T: +1 (416) 941 8900
About Nevada Silver Corporation
Nevada Silver Corporation (TSXV:NSC) is a US-based, multi-commodity resource company with two advanced stage exploration projects in the USA. NSC’s principal asset is the Corcoran Silver-Gold Project in Nevada. In addition, NSC also owns the Emily Manganese Project in Minnesota which has been the subject of considerable technical studies with US$23 million invested to date. Both Corcoran and Emily are wholly (100%) owned by NSC.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words “believes,” “may,” “plans,” “will,” “anticipates,” “intends,” “could”, “estimates”, “expects”, “forecasts”, “projects” and similar expressions, and the negative of such expressions.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including, without limitation, risks as a result of the Company having a limited operating history and may have a wide variance from actual results, risks concerning the ability to raise additional equity or debt capital to continue its business, uncertainty regarding the inclusion of inferred mineral resources in the mineral resource estimate which are too speculative geologically to be classified as mineral reserves, uncertainty regarding the ability to convert any part of the mineral resource into mineral reserves, uncertainty involving resource estimates and the ability to extract those resources economically, or at all, uncertainty involving exploration (including drilling) programs and the Company’s ability to expand and upgrade existing resource estimates, risks involved in any future regulatory processes and actions, risks from making a production decision (if any) without any feasibility study completed on the Company’s properties, risks applicable to mining exploration, development and/or operations generally, and risk as a result of the Company being subject to certain covenants with respect to its activities by creditors, as well as other risks.
Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.