Reyna Silver posts Gryphon Summit drill results, Nevada

Reyna Silver Corp. [TSXV: RSLV; OTCQX: RSNVF; FRA: 4ZC] reported results of its eight-hole, 2,413-metre 2024 drilling program at the Gryphon Summit Project where Reyna is earning a 70% interest in the 12,058 ha (29,795 acre) gold, silver and critical metals project in Eureka and Elko counties, Nevada from Golden Gryphon USA Inc.

The Gryphon Project contains both Carlin-type Gold and historically mined Carbonate Replacement Deposit (CRD) mineralization. Post-1970 exploration focus has been on just the gold mineralization, because of its location on the axis of the Carlin Trend and the widespread gold mineralization identified on surface. Reyna Silver recognized the opportunity to potentially use the more chemically aggressive, structurally controlled CRD mineralization to unlock the framework of the deposit and possibly help target both gold and silver mineralization.

The 2024 drill program marked the first time CRD mineralization was targeted at Gryphon, and the technical team reported that drilling in the Union area revealed CRD mineralization and pathfinders overprinted and surrounded by gold mineralization pathfinders. The same silver and gold association was also cut in the Sadler target areas. The relatively shallow 2024 program tested combined geochemical, structural and geophysical anomalies believed to be associated with larger-scale targets at depth. Considering the size of the Gryphon project, identifying vectors to assist target prioritization and refinement is a major step forward as we continue exploring.

Key Exploration Takeaways – GENERAL: The drill program consisted of eight holes totalling 2,413 metres of core from five previously permitted drill pads in BLM and patented claim ground. Three holes were drilled at Union and five at Sadler. This represents a tiny fraction of the overall claim package.

UNION: Drilling cut silver-bearing CRD mineralization, alteration and pathfinder metals with overprinting and surrounding gold mineralization for the first time at Gryphon. The geochemistry and core indicate the structures carrying this combination saw substantial mineralization-related fluid.

SADLER: Drilling here also cut silver-bearing CRD mineralization, alteration and pathfinder metals with overprinting and surrounding gold mineralization. Meanwhile, fieldwork identified the presence of the previously unrecognized IB Unit, regionally known as a significant host rock in the Pipeline-Cortez-Goldrush and Carlin-Goldstrike Carlin districts that also appears to be readily identifiable with CSAMT geophysics. Reevaluation of existing geophysics and extending it into new areas should significantly assist future targeting.

Reyna Silver’s technical team designed a limited, shallow drilling program on the eastern side of the property area, where it is laced with multiple sub-parallel structures that show strong gold, silver, copper and pathfinder element geochemical anomalies along kilometres of their lengths. Most of these structures have never been directly targeted despite these anomalies and extensive historical prospecting work.

Drilling was designed to test the overprinting hypothesis along two of these structures that were reachable from existing roads and permitted pads. The team believes the results validate the concept and warrant its much broader application across the balance of the property. Additionally, the results show that CSAMT geophysics reveals the location of a regionally well-known Carlin Gold host unit, now shown to extend across the property through the zone where major structures are associated with some of the most significant Gold and Silver results in the Sadler area.

“Gryphon is an enormous system with gold, silver and base metals everywhere, so confirming that probable Carlin-type gold overprints CRD mineralization along shared fluid pathways is an advance that may be critical for unlocking Gryphon and possibly related systems throughout the region,” said Dr. Peter Megaw, Chief Technical Advisor to Reyna Silver. “We inherited decades of excellent exploration data for Gryphon and are excited to combine them with a new coherent district model to key into some of the most important targeting factors. Clearly, the results scream to have these existing data run through an AI program capable of picking out patterns based on our new concepts.”

“Achieving basic proof of concept with associated follow-up targets on Reyna’s first pass is an exciting move forward for the gold, silver and critical metals potential of Gryphon,” said Jorge Ramiro Monroy, Reyna’s CEO. “We can now turn what we’ve learned to more aggressive exploration of one of the largest properties on the principal Carlin Trend not held by a major.”

Reyna’s drilling and surface mapping show that the stratigraphic contact marked by the IB coincides with a strong CSAMT geophysical anomaly that appears in the same position in many of the 17 km of CSAMT survey lines run in 2006 and 2021. The anomaly appears to expand notably to the east of South Sadler towards one of the most interesting historic holes, GS11-02, where the same IB-related stratigraphic break between siliclastics and carbonates is seen.

It is not yet clear whether the CSAMT response stems from the IB directly or mineralization and alteration affecting or underlying it, nonetheless it appears to be a promising guide to mineralization across the entire property. Follow-up work combining the existing CSAMT lines with the detailed surface mapping and sampling data to identify high-potential target areas is underway.