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Silver Viper Mobilizes for Drill Phase II

Tuesday, November 5th, 2019

Silver Viper Minerals Corp has announced mobilization of an exploration crew to La Virginia. The Company plans to commence diamond drilling over key target areas at the La Virginia Gold-Silver Project, located in the Sierra Madre of eastern Sonora state, Mexico. The upcoming program is designed to build on the success of the Company’s previous phase of work and will include drilling at the El Rubi Discovery, a previously undrilled gold-silver bearing target tested for the first time ever by Silver Viper in 2018.

Silver Viper’s first phase drilling program in 2018 at La Virginia included five drillholes at El Rubi, returning a best result of 13.3m core length(estimated true width 6.0m) averaging 3.16g/t gold and 228g/t silverfor a gold equivalent1 grade of 6.42g/t gold or silver equivalent1 grade of 449g/t silver (see news release of Jan 14th, 2019). Drilling at El Rubi has encountered mineralization over 100m of strike length. Phase II work is designed to test for the extension of this zone along trend and at depth. The program will provide a systematic test of the structure on 50m sections. With this work, Silver Viper hopes to generate sufficient data points to allow the calculation of a maiden resource estimate at El Rubi. In addition to work at El Rubi, the program will continue to probe prospective targets.

Access trail clearing is complete and camp refurbishment is underway. The newly completed camp will house the drilling crew and geological team for the duration of field operations. In addition to drill testing, fieldwork designed to refine several new targets identified by Silver Viper during project-wide soil sampling is also ongoing. Project-scale surface exploration undertaken by Silver Viper has identified soil anomalies which indicate the continuation of the main trend to the north, and appear to define a mineralized trend east of, and parallel to, that main trend.

Silver Viper’s President and CEO Steve Cope states, “Initiation of our second phase drilling is a priority and we are extremely happy to announce that crews are onsite and preparing for the upcoming work. We are especially excited to build upon the El Rubi discovery by stepping out along strike and down dip. Our program will also include drill testing of anomalies generated by our exploration team in the hope of making new discoveries on these previously unidentified and untested targets.”

Since acquiring the project, Silver Viper has completed diamond drilling on five target areas totaling 4,753m in 20 drill holes and completed regional exploration programs of stream sediment sampling, geological/prospecting traverses and soil sampling. The regional program to date has resulted in the collection of over 1,600 soil samples and rock chip samples across the largely unexplored property. Drilling by the Company to date builds upon a sizeable database including 52,635m of drill core from 188 diamond drillholes generated by the efforts of previous operators between 2010 and 2013. Silver Viper is expanding upon this work by continuing exploration northward into prospective untested ground.

About the Project

La Virginia is located 220km east-northeast of Hermosillo, Sonora. It is a large exploration property, primarily prospective for fault-controlled, low-sulphidation epithermal precious metal mineralization. The property and historical exploration database were acquired by way of option agreements made with two distinct parties. Gold and silver mineralization at La Virginia occurs within breccias, veins and stockworks hosted primarily by andesitic volcanics, often in close spatial association to or cross-cutting pre-mineral dacite dykes and controlled by fractures and faults that define the regional structural trend. Originally 37,700 hectares in size, Silver Viper’s reconnaissance program has identified key targets and trends which are of primary interest. The Company has filed reductions of the large concessions to better focus efforts on the high priority trends.

QA/QC

Analytical results herein represent samples of halved diamond drill core submitted by Silver Viper staff directly to Bureau Veritas, Hermosillo, Sonora, Mexico. Samples were crushed, split and pulverized as per Bureau Veritas method PRP70-250, then analysed for gold by lead collection fire assay fusion on a 30g split with AAS finish, and for a multi-element suite including silver by multi-acid digestion with ICP-ES/MS finish. Samples triggering precious metal over-limit thresholds of 10g/t Au or 200g/t Ag were retested by lead collection fire assay fusion with a gravimetric finish. Silver Viper monitors QA/QC using commercially sourced standards and locally sourced blank materials inserted within the sample sequence at regular intervals.

Dale Brittliffe, P.Geo., Vice President of Exploration is the ‘Qualified Person’ under National Instrument 43-101 and has approved the scientific and technical information contained in this news release.

https://www.mexicominingcenter.com/silver-viper-mobilizes-for-drill-phase-ii-at-la-virginia/
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