Exploration Summary Ahead Of Phase III Drill Program On The Virginia Silver Project
VANCOUVER - Silver Sands Resources Corp. reported on exploration of the 2020/2021 exploration program at its Virginia Silver Project in Santa Cruz Province, Argentina. In addition, its currently finalizing Phase III of its upcoming 2021/2022 exploration program, which it expects to commence as soon as crews are mobilized. Silver Sands is planning an aggressive exploration campaign designed to build on the success of last seasons discoveries.
The Company controls the 59,750ha advanced exploration stage Virginia silver project. It has an existing NI-43-101 resource of 1,149,000 Tonnes at 310 g/t silver for a total of 11.9 Moz silver in the indicated category and 430,000 Tonnes at 207 g/t silver for a total of 3 Moz in the inferred category*. The mineral resources are contained within seven conceptual open pits.
Early exploration of the Virginia Vein Field discovered more than 15 veins, including: Julia South, Julia Central, Julia North, Ely South, Ely North, Margarita, Roxane, Naty, Martina, Magi, Priscilla, Daniela, Patricia, Maos, Mercedes, and Naty Extension. Mineralized vein outcrop widths ranged from one to five meters. Vein outcrops, subcrop, and vein float could be traced for hundreds of meters of strike length in some instances. Subsequent drilling of these vein structures was successful in the definition of a preliminary indicated and inferred resource.
The success at Ely North and Ely Central suggests lower intensity chargeability anomalies may also indicate silver bearing veins. Mirasol only drilled the highest chargeability anomalies during their 2010-2012 programs, meaning the lower intensity chargeability anomalies within the main vein field need to be re-evaluated for potential silver bearing veins. An IP survey to the NE of the existing vein field has identified 17 targets with chargeability response similar to known veins in the main vein field.
Keith Anderson, Chief Executive Officer, said, "We are eager to follow up on our Phase I and Phase II exploration successes at Virginia. Significant intersections at Ely North, Ely Central, Martina SE and Julia South bode well for resource expansion, as the Phase III program will be directed at expanding each of these zone." He continued, "We will also continue the PDP IP to extend the Virginia vein field further to the northeast, an area where management anticipates discovery of new ounces of silver."