2022-12-14 05:02:18
VANCOUVER, BC and HONG KONG, CHINA / ACCESSWIRE / December 14, 2022 / Reyna Silver Corp. (TSXV:RSLV) (OTCQX:RSNVF) (FRA:4ZC) (“Reyna” or the “Company”) announces a weather-related pause in the Phase 1 Drilling Program on its 4,831 hectare Medicine Springs Project in Elko Co., Nevada. Reyna can Earn-In an 80% interest in the project from Northern Lights Resources (See Press Release of October 5, 2020). The company completed 1,850 meters in a total of four widely-spaced holes designed to determine broad system parameters. The holes completed include the first ever drilled into the Silver Butte and Silver King areas in the high, southwestern part of the property. Samples have been sent to the lab, and we look forward to releasing results for the entire drilling to date as soon as they are available.
“We prioritized drilling in the Silver Butte area because it is further from our access points and at a higher elevation, we are very pleased to be able to complete the first holes ever drilled into the area before the weather closed in,” said Jorge Ramiro Monroy, CEO of Reyna Silver. “We look forward to resuming in the spring after seeing how the results from this historically highly prospective part of the property fit into our emerging district picture. We expect to share the assay results with our investors in early 2023.”
Medicine Springs exhibits many of the key features associated with large, high-grade Carbonate Replacement Deposits (“CRDs”) and the Phase 1 Drilling program was designed to test certain key features of the project’s overall framework to verify project potential. These features include:
- Stratigraphy – determining the extent of potentially favorable carbonate host rocks.
- Structure – determining the expression of the well-zoned, mineralized jasperoids at depth (See Press Release from January 10, 2022).
- Oxidation Depth – identifying the depth of oxidation and transition to sulphides.
- Geophysics – ground-truthing geophysical anomalies at depth.
- Broad-scale zoning and potential vectors towards the mineralizing fluid source.
Figure 1: Drill Target areas – Golden Pipe, Silver Butte and Silver King – highlighted in blue within the 4,831 ha Medicine Springs Project with the anomalous results from the Jasperoid Selective Sampling Survey (See Press Release from January 10, 2022).
QUALIFIED PERSON
Dr. Peter Megaw, Ph.D., C.P.G., the Company’s Chief Exploration Advisor and Qualified Person, reviewed the technical aspects of the exploration projects described herein and is responsible for the design and conduct of the exploration program and the verification and quality assurance of analytical results. Dr. Megaw is not independent as he and/or companies with which he is affiliated hold Net Smelter Royalties on the Guigui and Batopilas Projects that predate Reyna Silver acquiring them.
ABOUT REYNA SILVER
Reyna Silver Corp. (TSXV: RSLV) is a growth-oriented junior exploration and development company focused on exploring for high-grade, district-scale silver deposits in Mexico and USA.
Reyna’s principal properties are the Guigui and Batopilas Properties in Chihuahua, Mexico. Guigui covers the interpreted source area for the Santa Eulalia Carbonate Replacement District (CRD) and Batopilas covers most of Mexico’s historically highest-grade silver system. The Company also has an option to acquire 80% of the Medicine Springs property in Nevada, USA as well as the early stage La Durazno and Matilde and La Reyna mineral properties in Mexico.
Cautionary Statements
This document contains “forward-looking statements” within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration results and plans, and our other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. Such forward-looking statements include, without limitation, our estimates of exploration investment, the scope of our exploration programs, and our expectations of ongoing administrative costs. There can be no assurance that such statements will prove to be accurate, and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company’s documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and we do not undertake any obligation to update forward-looking statements should conditions or our estimates or opinions change, except as required by law. Forward-looking statements are subject to risks, uncertainties and other factors, including risks associated with mineral exploration, price volatility in the mineral commodities we seek, and operational and political risks. Readers are cautioned not to place undue reliance on forward-looking statements.