Figure 1
Table 1
VANCOUVER, British Columbia, Feb. 16, 2022 (GLOBE NEWSWIRE) — Silver Hammer Mining Corp. (CSE: HAMR/OTCQB:HAMRF) (“Silver Hammer” or the “Company”) is pleased to report exploration results from a rock sampling and mapping program that has led to Company more than doubling the Silverton Project area through the staking of additional claims. The Silverton Project is located 129 kilometres (“km”) northeast of the Tonopah silver district in Nevada and was acquired by the Company in 2021.
Program Highlights:
- Obtained multiple rock-chip samples of silver mineralization assaying up to 330 grams per tonne (“g/t”) silver (“Ag”) southwest of the former Silverton Mine
- New samples, together with structural information obtained in the field, suggest historically mined silver zone extends to southwest and potentially continues under colluvium and post-mineral volcanic rocks
- Added 19 claims (516 acres) to cover potential extension of the silver zone mined by previous operators the Silverton Mine
“Based on our exploration completed to date at the Silverton Project, where minor silver production occurred in the 1930s, we believe that the historical mining developed just a small portion of a significantly larger zone or system of silver mineralization that has now been shown to extend hundreds of metres southwest of the old mine,” stated President & CEO Morgan Lekstrom. “Detrital sediments and young volcanic rocks appear to overlie and obscure the silver mineralized system southwest of the mine and we now believe that the strike extent of the system could be significantly expanded. Consequently, we have filed for 19 additional claims in a block that is contiguous with our original six-claim Silverton Project.
Figure 1. Silverton Project – Map of Silver Hammer claim blocks and locations of rock-chip samples with silver assays graphically indicated.
https://www.globenewswire.com/NewsRoom/AttachmentNg/36dfe573-e60a-4650-a2b2-e5df2b8ff6a7
Technical Information
Assay results from 102 rock-chip samples, 40 of which were collected in January of this year, indicate that the silver mineralization in the historic Silverton Mine area is hosted by fractured limestone and quartzite beds, with distinct structures of brecciated limestone containing the highest-grade silver. These structures, also marked by patchy silicification and quartz-iron oxide veinlets, generally trend north 030° east. When the mineralized structures are followed southwest from the mine they are soon obscured by colluvium. Table 1 below, lists some of the better silver assays for the recently collected rock samples.
Table 1. Notable silver assays for January 2022 rock-chip samples
https://www.globenewswire.com/NewsRoom/AttachmentNg/635dac0c-9b05-48e5-a5db-43b1079411a5
*Sb=Antimony; ppm=parts per million
The Company’s plans for 2022 include more detailed field work to understand the controls on the mineralization, including but not limited to hyperspectral, and geophysical setting Silver Hammer up for drill targeting and drilling in the 2nd half of 2022.
Qualified Person
Technical aspects of this press release have been reviewed and approved by Philip Mulholland, P.Geo., the designated Qualified Person (QP) under National Instrument 43-101.
About Silver Hammer Mining Corp.
Silver Hammer Mining Corp. is a junior resource company advancing the flagship past-producing Silver Strand Mine in the Coeur d’Alene Mining District in Idaho, USA, as well 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 multi-mine 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 investor relations inquiries, contact:
Kristina Pillon, 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.
