Work includes surface sampling of priority anomalies and resampling of the main Candy Vein structure
Vancouver, British Columbia--(Newsfile Corp. - March 12, 2024) - Silver Dollar Resources Inc. (CSE: SLV) (OTCQX: SLVDF) (FSE: 4YW) ("Silver Dollar" or the "Company") has commenced its re-evaluation of the Nora Silver-Gold property (the "Property") in the state of Durango, Mexico.
Figure 1: Nora property plan view with surface sample locations.
Fieldwork was carried out in late February that included geological mapping and sampling of priority anomalies along with resampling of the Candy Vein (Figure 1). A total of 72 surface samples were collected as follows:
12 soil grid samples were taken from the East anomaly.
10 soil grid samples were taken from the West anomaly.
9 soil grid samples were taken from the South anomaly.
41 rock/chip samples were taken from the main Candy Vein structure in an attempt to replicate the sample locations and high-grade results originally reported by Canasil Resources, the former owner of the Property. In the case where no visual evidence was found in the field of where a previous sample had been taken, the new sample was taken based on Canasil's coordinates and the probable outcrop.
All samples were described, photographed, and bagged on-site; and then delivered by Silver Dollar staff to ActLabs in Zacatecas, Mexico for analysis. The assay results will be reported once they are received.
Silver Dollar acquired a 100% interest in the Nora Ag-Au property (the "Property") from Canasil Resources, subject to a 2% net smelter returns royalty (See news release of February 8, 2024).
Located in the Eastern Sierra Madre sub-province in the transition to the high plateau of Mexico, the Property lies centrally within the "Silver Trend" that runs from the northwest to the southeast through Durango State (Figure 2). Significant deposits in the region include Endeavour Silver's Guanaceví mine and Fresnillo's San Julián mine on-trend to the northwest, with Endeavour Silver's Pitarrilla project approximately 50 kilometres (km) to the east. Pitarrilla is one of the largest undeveloped silver deposits in the world and was discovered by Perry Durning and Frank (Bud) Hillemeyer, Silver Dollar's technical advisors.
Figure 2: Location of the Nora property and other mines and deposits in the region.
The Property is located approximately 200 km north-northwest of the city of Durango, with excellent year-round access via Federal highway, paved road, and local dirt roads. Local infrastructure is available in the towns of Tepehuanes and Santa Maria del Oro and the city of Santiago Papasquiaro, all within 50km of the Property.
Mike Kilbourne, P.Geo., an independent Qualified Person (QP) as defined in NI 43-101, has reviewed and approved the technical contents of this news release on behalf of the Company. The QP and the Company have not completed sufficient work to verify the information on the Nora property, particularly regarding historical exploration, neighbouring companies, and government geological work.
About Silver Dollar Resources Inc.
Silver Dollar is a mineral exploration company that is fully funded to execute its near-term exploration plans having closed its last financing with lead orders from billionaire mining investor Eric Sprott and NYSE-listed First Majestic Silver. The Company's primary projects lie within Mexico's prolific Durango-Zacatecas silver-gold belt and include the flagship La Joya silver (Cu-Au) property and the Nora silver-gold property. Management has an aggressive growth strategy and is actively reviewing potential acquisitions with a focus on drill-ready projects in mining-friendly jurisdictions.
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ON BEHALF OF THE BOARD
Signed "Michael Romanik"
Michael Romanik, President, CEO & Director Silver Dollar Resources Inc. Direct line: (204) 724-0613 Email: [email protected] 179 - 2945 Jacklin Road, Suite 416 Victoria, BC, V9B 6J9
Forward-Looking Statements:
This news release may contain "forward-looking statements." Forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this news release.
