VANCOUVER, BC / ACCESS Newswire / March 17, 2025 / Rio Grande Resources Ltd. (CSE:RGR) ("Rio Grande" or "RIO" the "Company"), an emerging North American gold and silver exploration company, is pleased to announce an exploration and sample program will commence on Monday, March 24, 2025 at its Winston Group of Gold and Silver Properties ("Winston" or "The Winston Project") located in the Black Range Mountains in the Chloride Mining District of Sierra County, New Mexico, USA. The initial phase of this program is strategically designed to refine targets for evaluation, to test new high-priority zones and will include systematic sampling for additional targets.
Jason Barnard, CEO of Rio Grande Resources, comments: "Rio Grande is embarking on a new chapter at our Winston Project at an exciting time, with a robust and bullish gold/silver market providing an ideal backdrop. Given that the Winston Project hosts several past and present silver mines, we are confident that this exploration program will identify additional promising targets. We are sitting on a district hosting several past and present gold and silver mines, and we believe it holds tremendous potential for significant discoveries. Our systematic sampling and comprehensive analysis will build a strong foundation for future drilling and bring us closer to realizing the property's full potential, with our team dedicated to rapidly advancing the Winston Project for our shareholders."
The Winston Project encompasses over 3,000 acres and includes the historic Ivanhoe, Emporia, and Little Granite mines, with exploration being undertaken under the leadership of Dr. M. Feinstein, PhD, CPG. The Ivanhoe and Emporia consists of 2 patented lode claims, which were past producing gold-silver mines, under the same name. Discovered in the 1880s, the Ivanhoe features three shafts reaching a depth of 470 feet and multiple subterranean levels intermittently worked throughout its history. The Little Granite, consisting of 4 lode mine claims, has a main vein that has been traced for over 200 meters by past drilling and remains open along strike and at depth. Historic reports suggest the Little Granite Vein widens to approximately 3m (10ft) at depth. Mining in this area only ceased due to the decline in the price of silver and gold and not for a lack of significant mineralization.
The sampling program will include:
Infill areas with limited existing sampling data
Investigate and sample previously unknown historic diggings identified through LiDAR
Investigate extensions of vein trends in the northern portion of the property.
Figure 1. Area of Interest Highlighting Rio Grande's Core North Land Holding Along the Paymaster Fault Zone Corridor
The program will focus on geological mapping and systematic sampling along a 3 KM area of interest along the Paymaster Fault zone (highlighted section in red circle in figure 1), a significant structural feature associated with historical gold-silver vein deposits. In late 2022, the Company expanded its land holdings by acquiring eight additional claims along the northern extension of the Paymaster Fault. Rio will also conduct additional exploration along a prospective mineralized footprint that extends 8-kilometers in strike length and ranges from 1 to 2 kilometers in width. Geological evidence suggests a low-to-intermediate sulfidation epithermal vein system, with high-grade gold and silver mineralization confirmed across the property. While previous exploration occurred primarily in the 1970s and 1980s, Rio intends to leverage modern exploration concepts and advanced technologies including high-resolution geophysics, geochemical analysis and systematic methodologies to define geometry, controls on mineralization to delineate potential ore zones.
All samples collected will be submitted to ALS Global Laboratories via their intake facility in Tucson, AZ, for gold analysis by Fire Assay and multi-element analysis by 4-acid digestion and ICP. Assays will be released in a future news release.
Leadership Updates
Rio Grande would like to announce that Raymond Strafehl has transitioned from his role as President and into the role as Vice President of Corporate Development. He will continue on the Board. Current CEO, Jason Barnard, will be acting as Interim President effective immediately until his successor is announced.
Equity Grant
Further, the Company announces that it has granted an aggregate 50,000 stock options to a consultant of the Company, exercisable at $.07and valid for a 3-year term. All stock options issued are subject to a statutory hold period of four months and one day and have been granted in accordance with the Company's Omnibus Long-Term Incentive Plan dated December 20, 2024 and the policies of the Canadian Securities Exchange.
Qualified Person
Technical information in this news release has been reviewed and approved by Michael Feinstein, PhD, CPG, who is a Qualified Person as identified by Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects.
AboutRio Grande Resources
Rio Grande Resources (CSE:RGR) is a burgeoning mineral exploration company focused on unlocking the high-grade gold and silver potential within its 3,000-acre drill-ready property in the Black Range of Sierra County, New Mexico. The company holds 100% interest in the Winston project group, which includes the 2 patented historic Ivanhoe & Emporia Claims, and Little Granite mines, all known for their past production of high-grade precious metals. Rio Grande Resources is led by a team of experienced professionals with expertise in mineral exploration and development, who are targeting large-scale precious metal discoveries within the property's well-documented low-sulfidation epithermal setting. To view the company fact sheet and corporate presentation please visit our website at www.riogranderesources.ca
Except for the statements of historical fact contained herein, the information presented in this news release and oral statements made from time to time by representatives of the Company are or may constitute "forward-looking statements" as such term is used in applicable United States and Canadian laws and including, without limitation, within the meaning of the Private Securities Litigation Reform Act of 1995, for which the Company claims the protection of the safe harbor for forward looking statements. Such forward-looking statements and forward-looking information include, but are not limited CSE and the proposed benefits of the Arrangement. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect," "is expected," "anticipates" or "does not anticipate," "plans," "estimates" or "intends," or stating that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which 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 such forward-looking statements. Such risks and other factors include, among others, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, continuity of agreements with third parties, the satisfaction of the conditions to the Arrangement, risks and uncertainties associated with the environment and delays in obtaining governmental approvals, permits or financing. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company's filings on SEDAR+. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities. Please refer to the Company's most recent filings under its profile at on SEDAR+ at www.sedarplus.ca for further information respecting the risks affecting the Company and its business.
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