VANCOUVER, British Columbia, Jan. 19, 2022 (GLOBE NEWSWIRE) — Silver Hammer Mining Corp. (CSE: HAMR/OTCQB:HAMRF) (“Silver Hammer” or the “Company”) is pleased to provide a corporate update including corporate and exploration achievements in 2021 and plans for advancing the Company’s portfolio of assets during 2022. The Company completed an IPO in early May 2021 and subsequently established an experienced and talented team, acquired three high-grade past-producing properties in top-tier jurisdictions and fast-tracked permitting and drilling at its flagship Silver Strand Project in Idaho.
Silver Hammer President and CEO, Morgan Lekstrom, stated: “Since the Company’s inception eight months ago, we have delivered on numerous key milestones, delivering a successful proof-of-concept drill campaign at Silver Strand, plus significant sample results across our entire portfolio of US assets. We plan to continue this growth and work trajectory putting Silver Hammer in a strong position to create additional shareholder value in 2022.”
2021 Highlights (May-Dec)*:
- Acquired the past-producing, high grade, Silver Strand Mine in Idaho
- Acquired high-grade past producing Eliza Silver and Silverton Mine projects
- Significant surface results at Silver Strand with up to 255 g/t Ag and 11.79 g/t Au
- Completed mine rehabilitation work to facilitate cost-effective underground drilling
- High-grade sampling results at Eliza, including 1540 g/t Ag (3,071 g/t AgEq)
- Initial sampling at Silverton returned 692 g/t Ag and 6 g/t Au
- Drill campaign at Silver Strand included 202.76 g/t AgEq over 4.42 m, 209.85 g/t AgEq over 7.93 m (incl 532 g/t AgEq over 0.92 m), and 880 g/t AgEq over 0.92 m
- Phase I drilling at Silver Strand (first in ~20 years) confirmed presence of Au-Ag mineralization at shallow depths, with deeper drilling planned in 2022
- Added key personnel, completed name change and uplisted to OTCQB in US
2022 Exploration Plans:
- Commence deeper, cost-effective underground drill campaign to continue testing Silver Strand Mine system to 200 m depth
- Commence surface drilling at Silver Strand to test targets identified by sampling and geophysics programs completed in 2021
- Complete additional mapping and sampling of outcrop at Silver Strand to enhance geological understanding and define more regional targets along 5.5 km trend
- Conduct geophysics and additional sampling programs at Eliza and Silverton (underway) to define and permit Phase I drill targets at both properties
- Advance Eliza and Silverton to drill-ready stage by H2/2022 and progress discussions with prospective partners
Lekstrom added: “We believe our 2021 drill program has given us an early indication of the massive potential at Silver Strand and look forward to completing a second phase of drilling from our underground drilling bay and testing surface targets in the near future. Our Nevada projects also offer excellent upside and we’ve been actively sampling out in the field this month at Silverton. Our projects share similar characteristics as past-producers in top-tier jurisdictions with demonstrated high-grades, and we are excited to build on a very successful 2021.”
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 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 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
*Notes: See news releases dated November 29, 2021, December 6, 2021, December 14, 2021 for more detailed exploration program data.
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.
