Silver Dollar Resources Inc. [SLV-CSE; SLVDF-OTCQX] reported final assay results from phase 2 drilling at the underexplored Noria portion of the 100%-optioned La Joya silver project located in the state of Durango, Mexico.
Highlights include Hole NOR-22-023 that returned 686 g/t silver equivalent (AgEq) over 1.29 metres. Hole NOR-22-024 returned 894 g/t AgEq over 0.5 metres.
A total of 3,428 metres of drilling over 17 holes have been completed in phase 2 drilling. Assay results for the first nine holes of the phase 2 program were previously reported.
Hole NOR-22-021 was drilled to target an extension below the gold mineralization encountered in hole NOR-22-012 (1 g/t gold over 26.85 metres). The intrusive contact was shallower and flatter, and the hornfels zone was narrower than expected. This hole returned lower gold assays, but with increased Ag+Cu+Zn near the skarn front while largely absent higher up.
Hole NOR-22-022 was drilled to target the southeast extension of the Brazo mineralization, stepping out 68 metres to look for an increase in gold values below historical hole S-3 and similar to that in hole NOR-22-009. The intrusive was hit much shallower than expected, and the only notable intercept in this hole was some shallow zinc values near a fine-grained dyke of 7.49% over 0.67 metres.
Hole NOR-22-023 was a step-out hole drilled to target 33 m to the north of NOR-22-020. While there were anomalous values at the main intrusive contact, the margins of a smaller granitic dyke were more fertile with values of 0.68 g/t Au, 304 g/t Ag, 0.05% Cu, 1.81% Cu, 5.35% Zn or 686 g/t AgEq over 1.29 metres.
Hole NOR-22-024 & 025 were drilled at 115degree perpendicularly to target below a potential cross structure exposed in historic workings. There were some narrow intervals with high zinc up to 10.03% over 0.50 metres (NOR-22-024) associated with the footwall of a vaguely-defined fine grained dyke.
Hole-22-026 was a step-out hole drilled 45 metres north of NOR-22-023 targeting the strike to the north and a possible confluence of Brazo with the E-W striking structure related to the drainage north of Coloradito. The only notable intercept in this hole was a narrow interval of 5.49% zinc over 0.79 metres.
Hole-22-027 and 028 were drilled to test the downward extension of an intercept in hole NOR-22-020 of 0.38 g/t Au, 332.9 g/t Ag, 0.11% Cu, 1.77% Pb, 4.60% Zn or 662 g/t AgEq over 2.33 metres.
|NOR-22-027 targeted 35 metres below NOR-22-020, intercepting 0.1 g/t Au, 63 g/t Ag, 0.17% Cu, 0.26% Pb, 1% Zn or 152 g/t AgEq over 6.67 metres. While this deeper hole was justified, these values were less than expected
NOR-22-028 targeted 35 metres below NOR-22-027 intercepting 0.28 g/t Au, 69.10 g/t Ag, 1.15% Cu or 248 g/t AgEq over 5.38 metres.
“The phase II drill program was successful in expanding the dimensions of the Brazo structure in both strike directions and at depth,” said Mike Romanik, president. “Interpretation of the drill results is being integrated with the geophysics and surface work to propose the next steps to expand on the Brazo mineralization and test for similar style mineralization proximal to and around the Coloradito intrusive contact. The drill remains on site and can be mobilized quickly.”
The La Joya property is approximately 75 km directly southeast of the state capital city of Durango in a prolific mineralized region with past-producing and operating mines including Grupo Mexico’s San Martin Mine, Industrias Penoles’s Sabinas Mine, Pan American Silver’s La Colorada Mine, and First Majestic’s La Parrilla and Del Toro Silver Mines.
Silver Dollar is funded for 2022 with approximately $7 million in the treasury.