VANCOUVER, British Columbia, Nov. 29, 2021 (GLOBE NEWSWIRE) -- Silver Hammer Mining Corp. (CSE: HAMR/ OTC: HAMRF) ("Silver Hammer" or the "Company") is pleased to report results from sampling, mapping and detailed hyperspectral satellite imaging programs at the Company’s past-producing Silverton Project (the "Project"), located 129 kilometres ("km") northeast of the 174-million-ounce* Tonopah silver district in Nevada.
A total of 35 rock chip samples and 111 soil samples were collected from the Project area with highlighted samples assaying up to 692 g/t silver ("Ag"). Soil sampling focused on areas of anomalous gold and silver rock samples collected from a pediment area on the Project. Based on assay results and geological mapping, the Project appears to cover a volcanics-hosted gold system as well as a separate silver-dominated mineral system hosted by silicified limestone.
“We are excited by these results as they are the first clear indication of two mineralized precious metal systems existing on the Silverton Project—one marked by high-grade silver as was recovered from the historical Silverton Mine and the other consisting of disseminated lower-grade gold mineralization,” stated President & CEO Morgan Lekstrom. “Furthermore, we are obtaining surface samples grading up to 692 g/t Ag and numerous additional samples with encouraging silver grades outside of our initial target area. We look forward to refining our target concepts and initiating a first phase of drilling at Silverton in 2022.”
The Silverton Project was acquired along with the Eliza Silver Project (see press release August 9, 2021), which is also located in Nevada along strike from the historic Hamilton mining district. In addition to the new sampling results from Silverton (summarized below), initial exploration and rock chip sample results from Eliza will also be reported during Q4/2021.
Assays from the 19 rock chip samples from the west limestone-hosted area ranged from 0.32 g/t Ag to 692 g/t Ag and averaged 63.27 g/t Ag (see Figure 1 below). The 15 rock chip samples from the eastern part of the Project ranged from 0.009 to 15.0 and averaged 3.17 g/t Ag. Previously released samples from the eastern section of the Project believed to host the gold system indicate ranges from 0.06 g/t to 6.1 g/t gold Au.
A review of 19 samples on the west side, or limestone-hosted area, showed good correlation between Ag, lead (Pb) and antimony (Sb). This area contained the highest Ag results, and the best correlations to pathfinder elements such as Pb and Sb.
Since acquiring the Silverton property in September, the Company has moved quickly to expand its geological understanding through sampling and geochemistry programs. The rock sampling program has outlined two potential systems suitable for further targeted exploration: the expansion of the historic silver mine and potential high-grade surrounding area and a new potential gold system.
Qualified Person Technical aspects of this press release have been reviewed and approved under the supervision of Philip Mulholland, P.Geo. Mr. Mulholland is a Qualified Person (QP) under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Silver Hammer Mining Corp. Silver Hammer Mining Corp. is a junior resource company advancing the past-producing Silver Strand Mine in the Coeur d’Alene Mining District in Idaho, USA, both the Eliza Silver Project and the Silverton Silver Mine in one of the world’s most prolific mining jurisdictions in Nevada and the Lacy Gold Project in British Columbia, Canada. The Company has commenced an initial drill program at Silver Strand that will test for silver and gold mineralization immediately below the mine’s lowest level extending only 90 metres below surface. Silver Hammer strives to become a multimine silver producer and will focus near-term exploration and drilling plans at the Company’s Idaho and Nevada silver-gold assets.
*Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property.
On Behalf of the Board of Silver Hammer Mining Corp.
Morgan Lekstrom, President and CEO
Corporate Office: 551 Howe Street, Vancouver, British Columbia V6C 2C2, Canada For further information contact: Kristina Pillon, President, High Tide Consulting Corp. T: 604.908.1695 E: investors@silverhammermining.com
For media inquiries, contact: Adam Bello, Primoris Group Inc. T: 416.489.0092 E: media@primorisgroup.com
The CSE does not accept responsibility for the adequacy or accuracy of this release.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.
*All historic production information from Nevada Bureau of Mines & Geology, Bulletin 51.
