Fabled Increases Drill Program to 9,200 meters and Adds Second Drill

Rhea-AI Summary

Fabled Silver Gold Corp. has announced an expansion of its ongoing drill program at the Santa Maria property in Parral, Mexico, increasing it from 8,000 meters to a minimum of 9,200 meters. The additional 1,200 meters will be drilled by Maza Drilling, focusing on delineating the Santa Maria Central Structure. To date, approximately 3,000 meters have been completed with several holes already sampled and submitted for analysis. This strategic move aims to enhance the confidence level of various resource categories and improve the understanding of the mineralized bodies.

Positive

• Increased drill program from 8,000 meters to 9,200 meters.
• Focus on delineating the Central Structure to enhance resource characterization.
• Use of advanced underground drilling techniques to assess resource width and grade.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / April 15, 2021 / Fabled Silver Gold Corp. ("Fabled" or the "Company") (TSXV:FCO)(OTCQB:FBSGF)(FSE:7NQ) is pleased to announce that it has increased the on-going 8,000 meter drill program to a minimum of 9,200 meters.at the "Santa Maria" Property in Parral, Mexico.

The extra 1,200 meter drill program has been awarded to Maza Drilling who is currently performing the surface drilling and has underground diamond drilling machines capable of drilling HQ size, (2.5 inches) drill core.

This program will be focused underground to delineate the Santa Maria Central Structure with multi underground drill stations being prepared, see Figure 1.

Peter J. Hawley, CEO and President, states, "As we advance the surface drill program and compile these findings into our data base and remodel the mineralized bodies with respect to orientation of structure, width, grade and predictability we are now ready to start at the same time to delineate the central sector of the Santa Maria structure. This cost-effective measure allows us, from underground, to drill with a second machine and determine the true width to the hanging wall and foot wall of the structure and also begin to infill drill the resource area to increase the confidence level of the various resource categories."

Figure 1: Longitudinal Section of Central Santa Maria Structure

The Company has completed drill holes SM20-01 - 12 for a total of approximately 3,000 meters of the now increase 9,200 meter drill program completed to date. Holes SM20-8B, (resampled) and SM20-10, 11 have been sampled and submitted to ALS Chihuahua Laboratory for analysis. Hole SM20-12 has been completed and is in the process of being sampled, Hole SM20-13 is currently in progress.

QA QC Procedure

Analytical results of sampling reported by Fabled Silver Gold represent core samples that have been sawn in half with half of the core sampled and submitted by Fabled Silver Gold staff directly to ALS Chemex, Chihuahua, Chihuahua, Mexico. Samples were crushed, split, and pulverized as per ALS Chemex method PREP-31, then analyzed for ME-ICP61 33 element package by four acid digestion with ICP-AES Finish. ME-GRA21 method for Au and Ag by fire assay and gravimetric finish, 30g nominal sample weight.

Over Limit Methods

For samples triggering precious metal over-limit thresholds of 10 g/t Au or 100 g/t Ag, the following is being used:

Au-GRA21 Au by fire assay and gravimetric finish with 30 g sample.
Ag-GRA21 Ag by fire assay and gravimetric finish.

Fabled Silver Gold monitors QA/QC using commercially sourced standards and locally sourced blank materials inserted within the sample sequence at regular intervals.

About Fabled Silver Gold Corp.

Fabled is focused on acquiring, exploring and operating properties that yield near-term metal production. The Company has an experienced management team with multiple years of involvement in mining and exploration in Mexico. The Company's mandate is to focus on acquiring precious metal properties in Mexico with blue-sky exploration potential.

The Company has entered into an agreement with Golden Minerals Company (AUMN) to acquire the Santa Maria Property, a high-grade silver-gold property situated in the center of the Mexican epithermal silver-gold belt. The belt has been recognized as a significant metallogenic province, which has reportedly produced more silver than any other equivalent area in the world.

Mr. Peter J. Hawley, President and C.E.O.

Fabled Silver Gold Corp.
Phone: (819) 316-0919
peter@fabledfco.com

For further information please contact:

info@fabledfco.com

The technical information contained in this news release has been approved by Peter J. Hawley, P.Geo. President and C.E.O. of Fabled, who is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Neither the TSX Venture Exchange nor its Regulations Service Provider (as that term is defined in the policies of the TSX Venture Exchange) does accept responsibility for the adequacy or accuracy of this news release.

Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains any required regulatory approvals.

Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; industry conditions, including fluctuations in commodity prices; governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in mining operations; changes in tax laws and incentive programs relating to the mining industry; as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

SOURCE: Fabled Silver Gold Corp.

View source version on accesswire.com:
https://www.accesswire.com/640484/Fabled-Increases-Drill-Program-to-9200-meters-and-Adds-Second-Drill

FAQ

What is the recent announcement by Fabled Silver Gold Corp regarding the drill program on April 15, 2021?

Fabled Silver Gold Corp announced an increase in its drill program at the Santa Maria property from 8,000 meters to a minimum of 9,200 meters.

Who is conducting the additional drilling for Fabled Silver Gold Corp's program?

Maza Drilling has been awarded the additional drilling contract.

What is the purpose of the expanded drill program at the Santa Maria property?

The purpose is to delineate the Santa Maria Central Structure and improve resource characterization.

How much drilling has been completed to date in the ongoing program as of April 2021?

Approximately 3,000 meters of drilling has been completed.

What are some of the analytical methods used for sampling in Fabled Silver Gold Corp’s drilling program?

Samples are analyzed using methods like ME-ICP61 for multiple elements and Au and Ag by fire assay methods.