Silver Valley Metals Reports Exploration Results from the Crown Point Mine; Numerous High Priority Drill Targets Identified at its Ranger-Page Project in the Silver Valley, Northern Idaho, USA

Rhea-AI Summary

Silver Valley Metals Corp. (SVMFF) announced promising exploration results from the Crown Point Mine target at the Ranger-Page Project in Idaho. Key highlights include a significant Induced Polarization and Resistivity anomaly indicating potential mineralization extending over 500 meters in depth and strike length. Historical production from the site yielded 63,098 tons at 301 g/t silver and 10.18% lead, with potential zinc recoveries anticipated in future drilling. The Company identified multiple high-priority target areas for 2023 based on robust geochemical results showing silver up to 27.1 g/t and lead concentrations reaching 1,240 ppm, further supporting exploration viability.

Positive

• Strong exploration results from Crown Point Mine target.
• Significant near-surface geophysical anomalies detected.
• Historical production data indicating high-grade mineralization.
• Geochemical results show silver grading up to 27.1 g/t and lead at 1,240 ppm.

Negative

• None.

VANCOUVER, BC, Jan. 26, 2023 /PRNewswire/ - Silver Valley Metals Corp. (TSXV: SILV) (OTCQB: SVMFF) ("Silver Valley" or the "Company"), a brownfields exploration Company with two potential high impact projects that comprise silver-zinc-lead located in north Idaho, USA and lithium - potassium (sulphate of potash) located in Zacatecas and San Luis Potosi, Mexico respectively, is pleased to provide strong exploration results from its Crown Point Mine target at the Ranger-Page Project, Silver Valley, Idaho.  

Highlights:

• Significant near surface coincident Induced Polarization and Resistivity anomaly matching historical trend of the Crown Point Mine
• Geophysical anomaly located near surface plunging greater than 500 metres at depth and extends continuously greater than 500 metres on strike to the west approaching the Blackhawk Mine
• Silver, zinc, lead, copper, cadmium, antimony – strong anomalous geochemistry results from all elements collected along strike and coincident with geophysics
• Vein structure identified from historic trenching on surface with results returning 221 g/t silver and 1% lead
• Crown Point fault structure mapped and interpreted to be a linking structure between the district scale Osburn fault and the Curlew fault. This fault relationship is consistent with numerous other major mines along a 30-kilometre trend in the prolific Silver Valley
• One of seven high priority large target areas defined from 2022 exploration campaign within a 3km x 2km area
• Historical production:  63,098 tons grading 301 g/t silver and 10.18% lead, no recovery of zinc due to no past recovery capabilities – expect to see a component of zinc in the future drilling campaign

To view exploration results in a compelling multi-media video that shows stopes, underground workings and the significant scale and scope potential beyond what has been historically mined which is supported by exploration results click: https://tinyurl.com/yc7327fs

To view exploration results in presentation format:  https://tinyurl.com/2d4jakn8  

Dale Moore, Exploration Director of Silver Valley comments, "The Crown Point Mine has always been an exciting target for our team at Silver Valley Metals. It's the highest-grade deposit at the project, and we had strong suspicions the historic workings did not exhaust the available mineralization. Our IP survey has helped confirm that suspicion, with our significant anomaly down plunge of the existing Crown Point stopes. Add to that a strong geochemical anomaly over the top of the system, and it's location on a linking fault structure with the district scale Osburn fault, I believe we have a bullseye for our 2023 drilling campaign."

The Crown Point Target is the down plunge extension of the historic Crown Point mine, which historically mined 63,000 tons at 301 g/t silver and 10% lead.  Zinc was never recovered when Crown Point was mined due to limited recovery capabilities at the time, but the Company believes there will be a component of zinc when / if there are future discoveries at the target area, as evidenced in the surface sampling geochemistry. 

To view an enhanced version: Geophysics: Induced Polarization Anomaly click:
https://tinyurl.com/yxds99tn

The Crown Point Mine and target area is one of seven high priority target areas that the Company has defined from its successful 2022 exploration campaign.  Importantly, all high priority areas are located within an approximate 3-kilometre by 2-kilometre area, and each target has significant strike and depth potential.

To view an enhanced version: New Drill Target Areas click: https://tinyurl.com/3zy42u9f

The Crown Point target is located 1,000 metres northwest from Bunker Hill, one of America's largest underground mines, and located 650 metres due east from the past producing Blackhawk Mine (owned by Silver Valley) which remains open at depth below 365 metres. The Crown Point Mine is located 1,650 metres east from the Company's top ten historical producer in the District, the Page Mine.  The Page Mine has exploration drilling with compelling intercepts that extend mineralization beyond high-grade historical reserves located at the bottom of the mine (see news release dated September 20, 2022) https://tinyurl.com/bdh69m34

To view an enhanced version of Figure 3: Crown Point Target Area click: 
https://tinyurl.com/s5n32s9h

Geophysics Interpretation:

The ground Induced Polarization and Resistivity surveys indicate a significant anomaly exists above and below the existing Crown Point stopes, with an interpreted plunge line matching the historical trend of the Crown Point Mine indicating the system is open at depth and to the west, trending toward and near the Blackhawk Mine.

See video to view proximity of Crown Point to Blackhawk:  https://tinyurl.com/yc7327fs

The background induced polarization readings observed at the Crown Point host rocks was measured at 0-4 msec, as compared to the background observed at the Prichard formation (+20 msec) located north of the Crown Point target.  The Crown Point induced polarization anomaly ranges between 6 and 20 msec. The strike and dip length of the anomaly is approximately 500 and 520 meters respectively. Additional anomalies, one situated up dip of the Crown Point Mine, and to the west of the Crown Point Mine are considered significant and make this area a high priority target for the Company. 

Geochemical Program:

A surface geochemical program was initiated to further validate the geophysics targets. Samples were collected from the B and C soil horizons on a 30-metre spacing. At each location, a pit was dug until refusal (could not dig deeper).  The B and C soil horizons were sampled separately to assess and compare geochemical results from Ranger-Page weathered bedrock and soils to results published in other Silver Valley geochemical studies. Samples were described, photographed, staked and location data collected via GPS.  Results were loaded into Leapfrog Geo and displayed via a proportional grade plot to highlight high values. 

To view the geochemical surface results on plan maps please click here:  
https://tinyurl.com/2d4jakn8

Results over the Crown Point anomaly reflect silver grading up to 27.1 g/t, compared to a background of less than 3.4 g/t. Lead, Zinc and Copper anomalies are as high as 1,240 ppm, 212 ppm, and 550 ppm respectively. Background levels of lead, zinc and copper in the project area are typically 10 ppm, 40 ppm, 6 ppm respectively.

Photo of a typical sample pit. https://tinyurl.com/4jah457b 

Geochemical Results:

B Horizon Geochemical Results:

LDL				<5 ppm	<1 ppm	<2 ppm	<5 ppm	<5 ppm	<2 ppm	<3.4 ppm
Sample ID	Easing	Northing	Elevation (m)	As (ppm)	Cd (ppm)	Cu (ppm)	Pb (ppm)	Sb (ppm)	Zn (ppm)	Ag (g/t)
GCE-2-17B	561609	5264237	897	37.6	<1.0	66.0	331.0	37.3	94.6	<3.4
GCE-2-18B	561624	5264260	896	30.4	<1.0	25.2	1070.0	21.4	86.4	<3.4
GCE-2-19B	561644	5264277	893	30.3	<1.0	15.9	414.0	19.6	51.4	<3.4
GCE-2-20B	561658	5264300	888	22.1	<1.0	18.0	585.0	22.7	98.9	<3.4
GCE-3-9B	561664	5264248	918	27.1	<1.0	11.0	101.0	19.1	52.5	<3.4
CP-1-1B	561638	5264420	823	28.0	1.7	21.7	87.6	23.5	208.0	<3.4
CP-1-2B	561620	5264393	827	9.8	<1.0	12.4	35.5	16.6	91.4	<3.4
CP-1-3B	561595	5264373	827	10.4	5.0	11.0	80.7	17.0	340.0	<3.4
CP-1-4B	561572	5264360	826	18.1	1.3	17.8	410.0	21.1	158.0	<3.4
CP-1-5B	561558	5264321	836	27.8	2.2	17.8	190.0	20.9	133.0	<3.4
CP-2-1B	561682	5264396	864	23.0	10.1	17.9	63.1	19.4	708.0	<3.4
CP-2-2B	561662	5264364	863	12.1	3.8	12.6	104.0	20.3	199.0	<3.4
CP-2-3B	561636	5264337	863	10.8	5.3	13.1	85.8	16.0	898.0	<3.4
CP-2-4B	561612	5264312	867	36.6	1.5	17.6	435.0	24.0	117.0	<3.4
CP-2-5B	561599	5264293	867	26.2	1.1	18.3	373.0	22.0	115.0	<3.4
CP-3-1B	561717	5264357	882	<5.0	5.3	8.4	19.5	15.4	229.0	<3.4
CP-3-2B	561696	5264339	880	6.3	<1.0	9.3	30.9	18.3	53.8	<3.4
CP-3-3B	561678	5264316	883	<5.0	2.5	12.0	31.3	17.2	156.0	<3.4
CP-4-1B	561677	5264270	897	45.5	<1.0	24.3	1050.0	24.8	73.1	<3.4
CP-4-2B	561699	5264294	897	<5.0	<1.0	9.8	122.0	18.8	93.3	<3.4
CP-4-3B	561714	5264318	891	19.7	2.5	14.7	90.4	17.4	159.0	<3.4
CP-5-1B	561766	5264354	871	11.0	14.1	18.1	42.3	17.7	1100.0	<3.4
CP-5-2B	561771	5264318	878	5.4	5.0	12.4	43.0	17.4	266.0	<3.4
CP-5-3B	561769	5264287	877	5.2	4.3	9.6	46.0	17.1	177.0	<3.4
CP-5-4B	561765	5264257	881	14.6	1.4	15.0	580.0	20.2	134.0	<3.4
CP-5-5B	561762	5264227	878	18.2	6.5	14.7	225.0	21.0	344.0	<3.4
CP-6-1B	561813	5264236	858	14.0	4.1	14.4	439.0	17.4	367.0	<3.4
CP-6-2B	561814	5264266	858	7.9	4.0	13.1	96.8	18.2	786.0	<3.4
CP-6-3B	561817	5264300	859	<5.0	3.2	10.8	82.0	16.5	191.0	<3.4
CP-6-4B	561821	5264334	857	7.2	3.7	16.7	44.2	16.7	262.0	<3.4
CP-6-5B	561817	5264364	855	16.1	1.7	19.7	40.2	19.4	216.0	<3.4

 

C Horizon Geochemical Results:

LDL				<5 ppm	<1 ppm	<2 ppm	<5 ppm	<5 ppm	<2 ppm	<3.4 ppm
Sample ID	Easing	Northing	Elevation (m)	As (ppm)	Cd (ppm)	Cu (ppm)	Pb (ppm)	Sb (ppm)	Zn (ppm)	Ag (g/t)
GCE-2-17C	561609	5264237	897	167.0	<1.0	550.0	281.0	304.0	212.0	27.1
GCE-2-18C	561624	5264260	896	38.9	<1.0	19.1	123.0	19.7	48.2	<3.4
GCE-2-19C	561644	5264277	893	40.2	<1.0	26.9	125.0	24.7	39.5	<3.4
GCE-2-20C	561658	5264300	888	44.8	<1.0	29.7	176.0	24.7	40.2	<3.4
GCE-3-9C	561664	5264248	918	34.7	<1.0	23.0	460.0	30.7	24.9	8.5
CP-1-1C	561638	5264420	823	21.2	1.1	36.6	33.4	37.9	127.0	<3.4
CP-1-2C	561620	5264393	827	6.4	<1.0	4.2	14.7	33.9	124.0	<3.4
CP-1-3C	561595	5264373	827	25.5	<1.0	17.5	125.0	36.7	113.0	<3.4
CP-1-4C	561572	5264360	826	21.6	<1.0	14.9	394.0	35.9	76.5	<3.4
CP-1-5C	561558	5264321	836	69.1	<1.0	16.0	240.0	33.1	60.1	<3.4
CP-2-1C	561682	5264396	864	<5.0	2.0	5.0	78.6	35.4	158.0	<3.4
CP-2-2C	561662	5264364	863	79.6	<1.0	17.2	70.2	33.5	144.0	<3.4
CP-2-3C	561636	5264337	863	8.7	<1.0	3.9	76.5	38.4	82.3	<3.4
CP-2-4C	561612	5264312	867	27.2	<1.0	32.5	460.0	36.7	56.7	<3.4
CP-2-5C	561599	5264293	867	27.9	3.1	29.2	650.0	38.0	724.0	7.1
CP-3-1C	561717	5264357	882	<5.0	<1.0	2.7	13.4	35.8	79.6	<3.4
CP-3-2C	561696	5264339	880	7.9	<1.0	3.0	11.6	<5.0	<2.0	<3.4
CP-3-3C	561678	5264316	883	<5.0	<1.0	4.3	11.0	<5.0	<2.0	<3.4
CP-4-1C	561677	5264270	897	123.0	<1.0	31.4	1240.0	50.8	62.5	5.0
CP-4-2C	561699	5264294	897	26.7	<1.0	22.7	292.0	34.7	140.0	<3.4
CP-4-3C	561714	5264318	891	21.3	<1.0	7.9	17.8	38.2	69.3	<3.4
CP-5-1C	561766	5264354	871	<5.0	<1.0	3.5	11.1	22.1	66.4	<3.4
CP-5-2C	561771	5264318	878	10.6	1.0	6.9	20.9	29.5	102.0	<3.4
CP-5-3C	561769	5264287	877	21.6	<1.0	4.7	36.2	32.9	74.3	<3.4
CP-5-4C	561765	5264257	881	18.6	<1.0	13.2	658.0	26.4	63.2	<3.4
CP-5-5C	561762	5264227	878	57.3	<1.0	31.5	520.0	56.0	76.2	<3.4
CP-6-1C	561813	5264236	858	26.8	1.3	26.3	660.0	47.3	175.0	<3.4
CP-6-2C	561814	5264266	858	<5.0	<1.0	6.6	23.9	29.9	126.0	<3.4
CP-6-3C	561817	5264300	859	10.1	<1.0	6.2	20.3	35.4	91.0	<3.4
CP-6-4C	561821	5264334	857	5.9	1.3	5.9	24.4	37.5	124.0	<3.4

 

Lab Analysis – QA-QC:

Atomic absorption analysis for Silver:

American Analytical Services, Inc ("AAS") is an ISO/IEC 17025 accredited laboratory, located in Osburn Idaho. All analysis includes quality control measures to ensure an acceptance standard established within AAS methods. All samples sent to AAS were checked for accuracy between the chain of custody and the samples with the client present. Samples are dried before starting the prep process. The prep process includes crushing the sample in its entirety to 80% passing a 10 mesh, split in a riffle box to make a 250g sub-sample and pulverized to 85% passing a 140 mesh. Analysis for AA-Ag is done by 2 or 4 acid digestion. Detection limit for AA-Ag is 0.100 Oz/ton - 15.0 Oz/ton. Any results over the detection limit are sent to fire assay to do Ag gravimetric finish.

ICP-OES analysis for 35 element analysis:

All samples are subjected to a 4 acid digestion. Digestion QC consists of a reagent blank, control standard and for every 20 samples there is a duplicate of a sample pulp to check RPD. To begin ICP-OES analysis, the instrument is standardized with the five working standard solutions (multi-point linear fitting). Samples are then measured with the reagent blank, control standard and a CCV (continuous calibration verification). Once samples are analyzed, all QC is checked, and results are sent to LIMS system to be made into the client's report. 

Qualified person

Timothy Mosey, BSc, MSc, SME, is the qualified person for the company and qualified person as defined by National Instrument 43-101. Mr. Mosey supervised the preparation of the technical information in this news release.

About: MexiCan lithium - potassium (sulphate of potash) project:

Silver Valley Metals Corp. owns a 100% interest in a lithium and potassium bearing salar complex comprising 4,059 hectares on three mineral concessions (the "Mexican Projects") located on the Central Mexican Plateau in the states of Zacatecas, and San Luis Potosi, Mexico. The NI 43-101 inferred mineral resource contains 12.3Mt of Sulfate of Potash (SOP) and 243,000 tonnes of lithium carbonate equivalent (LCE) and remains open in all directions for expansion.

About: Ranger-Page project:

The Ranger-Page Project ("The Project") is in the Silver Valley, northern Idaho, USA, 60 kilometres east of Coeur d'Alene and 1 kilometre from the I-90 freeway. In 2020 Idaho was ranked the first in the world in policy perception and 9th best mining jurisdiction (Fraser Institute Annual Mining Survey). The Project borders the famous Bunker Hill Mine to the east and for the first time consolidates the western extent of the prolific Silver Valley mining corridor by one operator in the past 100+ years.

The Project comprises 6 historical mines on patented claims, without royalties. The largest of these, the Page Mine, was a top ten producer in the Silver Valley yielding over 1.1 billion pounds of zinc and lead and 14.6 million ounces of silver. The Page Mine has high grade silver-zinc-lead historic reserves and remains open at depth and along strike beyond what has been identified to date.

Historical mining on the properties shared underground infrastructure which connected the larger Page mine with five shallow historic mines within the larger Project area. The Company has underground mining data and surface geological data that supports high grade silver-zinc-lead mineralization present within the shallow, undeveloped mines. These mines remain open at depth, and laterally along strike.

Exploration potential beyond the historic mines is considered significant as modern systematic exploration is being applied to the project for the first time.

About: Silver Valley Metals:

Silver Valley Metals Corp. is a Canadian exploration company comprised of a group of experienced exploration, mining, and financing specialists focused on the pursuit of mineral discovery and development. We are focused on the advancement of strategic and precious mineral properties including Lithium-Potash in Mexico and Silver-Zinc-Lead in northern Idaho, USA.   

On behalf of the Board of Directors of Silver Valley Metals,

"Brandon Rook"

Brandon Rook, President & CEO, Director

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.

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SOURCE Silver Valley Metals Corp.

FAQ

What are the latest exploration results for Silver Valley Metals Corp (SVMFF)?

Silver Valley Metals Corp reported promising exploration results from the Crown Point Mine target, indicating significant geophysical anomalies and strong geochemical findings.

What is the historical production data of the Crown Point Mine?

Historically, the Crown Point Mine produced 63,098 tons grading 301 g/t silver and 10.18% lead.

What potential does the Crown Point target hold for future exploration?

Future drilling at the Crown Point target is expected to yield recoverable zinc along with silver and lead, based on strong surface sampling results.

How deep does the mineralization extend at the Crown Point Mine?

The mineralization at the Crown Point Mine target extends greater than 500 meters in depth.