TORONTO, Oct. 22, 2021 (GLOBE NEWSWIRE) — Stroud Resources Ltd. (TSXV-SDR) (“Stroud” or the “Company”) is pleased to provide an update to its 2021 Phase 1 drilling program at its Santo Domingo Silver Property (“Santo Domingo” or the “Property”), located in Hostotipaquillo, State of Jalisco, Mexico.
To date, the Company has completed 5,725 metres in 14 diamond drill holes as part of its Phase 1 exploration drilling program (Table 1). The drilling program was designed to explore the extent of known vein-hosted silver mineralization on the Property and to begin to define additional silver mineralized zones and vein systems which are anticipated to run parallel to the existing La Raya and Guadalupe silver vein systems. The Company’s Drilling Permit covers 13 drill pads (drill setups) located across the Property and from which 50 diamond drill holes were planned.
Drilling has been slow due to difficult topography, poor ground conditions, and COVID-19 related challenges. In addition, significant historical mine workings throughout the Property have also required slow and careful drilling. Five additional holes to those listed in Table 1 were abandoned after encountering mine workings and being unable to recover the hole (Figure 1).
Table 1. Summary of drill holes completed to date, Phase 1 drilling program.
|Drill Hole||East||North||Elevation||Azimuth||Dip||Length (m)||Hole Type||Vein System Target|
|SD-21-73||606540||2334185||1130||50||-65||423||Exploration||La Raya HW|
|SD-21-74||606440||2334207||1146||50||-65||403||Exploration||La Raya HW|
|SD-21-80||606058||2334180||1160||230||-50||534||Exploration||Santa Fe/Santa Clara|
|SD-21-81||606058||2334180||1160||230||-70||540||Exploration||Santa Fe/Santa Clara|
|SD-21-82||606058||2334180||1160||50||-65||537||Exploration||Santa Fe/Santa Clara|
|SD-21-84||606328||2334142||1166||230||-55||552||Exploration||Santa Fe/Santa Clara|
Datum/Coordinate system: WGS 84 / UTM zone 13N
The first two setups (1 and 3) of the drilling program explored the western edge of the Property stepping out about 200 m south from existing mineralization in the Guadalupe Vein System (Figure 1). Holes SD-21-46, SD-21-47 and SD-21-48 were drilled from setup 1 and holes SD-21-53, SD-21-54 and SD-21-56 were drilled from setup 3. These drill holes intersected the silver vein host rocks (agglomerates) but did not produce significant mineralization. However, the geological continuity of the structure was confirmed as evidenced by quartz ± calcite veinlets and breccias with traces of fine pyrite.
Setup 12 is located 300 metres west of setup 1 and was chosen to explore for any lateral movement of the system in that direction, evidenced by the historical Santa Fe and Santa Clara mines. From setup 12, hole SD-21-80 remained in the cover rocks (grey crystal-lithic tuff), suggesting that the mineralized target rocks are located much deeper in this area, perhaps due to faulting. Hole SD-21-80 did intersect a narrow vein of mainly silver-bearing galena and lesser iron-poor sphalerite at about 264 metres.
Hole SD-21-81 was drilled parallel to hole SD-21-80 but with a steeper dip, intersecting two mineralized zones of grey quartz veining with abundant pyrite and hematite at about 140 m and 180 metres.
Hole SD-21-82 tested a parallel vein system west of Guadalupe and east of SD-21-81 by drilling in the opposite direction. It hit favourable rock but did not intersect significant mineralization.
Sampling and assaying of the drill core has begun. The Company was delayed awaiting electrical repairs to its core saw and approval from the electrical authority. The Company anticipates sending its samples to the lab this week and will report on results as they become available.
Dr. Derek McBride, P. Eng. is the Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this news release.
About Stroud Resources Ltd.
Stroud Resources is a TSXV listed company focused on the exploration and development of its Santo Domingo epithermal silver project in central Mexico.
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 and uncertainties relating to the interpretation of the drill results, geology, grade and continuity of mineral deposits.
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.