Vancouver, British Columbia – June 9, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Silverstock Metals Inc. (CSE: STK) (the “Company” or “Silverstock”) is pleased to provide an update on the recent exploration work carried out on the Gold Cutter Property (the “Property”).
Silverstock’s first exploration programs took place in 2020, when i) two geologists and two prospectors spent one week on the Property conducting geological reconnaissance/sampling and collected 133 grab samples; ii) a property-wide drone magnetic survey was completed; and iii) a local soil geochemical survey was undertaken. The presence of significant precious and base metal values in quartz veins mostly hosted by intrusives in the north-central part of the Property was verified.
In October 2021, two geologists and a prospector spent a further five days on the Property for Silverstock conducting additional sampling and geological reconnaissance. 111 grab samples were collected. Gold results varied from below detection to a high of 1.76 g/t; five samples had in excess of 0.5 g/t Au. Silver ranged from below detection up to 129 g/t. Base metal values varied from very low to highs of 282 ppm Cu, 2.57% Pb and 325 ppm Zn. Molybdenum had a highest value of 519 ppm (0.05%). The 2.57% Pb and 129 g/t Ag came from a 70 cm wide rounded boulder with a banded quartz-galena vein.
Figure 1: Outlined Property Targets
Two main targets have emerged from the two prospecting/geological reconnaissance campaigns: i) a northern NNW trending 1.2 km long zone with auriferous quartz veins spatially associated with dikes of syenite/monzonite (Fig. 1); and ii) elevated gold associated with a quartz veins and silica alteration in monzonite in the south-central part of the property (Fig. 1). The northern zone is open to the SSE, and the southern zone is open in all directions.
The Company will continue to review and assess the information it has obtained and lay out a path forward for 2022/2023.
Dr. Tom Setterfield, P.Geo., a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has read and approved all technical and scientific information contained in this news release.
About Silverstock Metals Inc.
Silverstock Metals Inc. is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct the exploration of its Gold Cutter Property. The Gold Cutter Property is comprised of two contiguous mineral claims totaling approximately 1,821.1 hectares and is located in the Kamloops Mining Division, British Columbia.
For more information, please refer to the Company’s prospectus dated August 3, 2021, available on SEDAR (www.sedar.com).
On Behalf of the Board of Directors
Chief Executive Officer, President and Director
For further information, please contact:
Chief Executive Officer, President and Director
(778) 897 3322
This news release includes certain forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the commencement of trading of the Company’s common shares on the Canadian Securities Exchange, future capital expenditures, anticipated content, commencement, and cost of exploration programs in respect of the Company’s projects and mineral properties, anticipated exploration program results from exploration activities, resources and/or reserves on the Company’s projects and mineral properties, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward-looking information can be identified by words such as “pro forma”, “plans”, “expects”, “will”, “may”, “should”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that market fundamentals will result in sustained precious and base metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration of the Company’s properties, that the COVID-19 global pandemic will not affect the ability of the Company to conduct the exploration program on the Gold Cutter Property, the availability of financing on suitable terms, and the Company’s ability to comply with environmental, health and safety laws.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the Company’s option to acquire the Gold Cutter Property, the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the Canadian Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company’s business, financial condition and results of operations, the Company’s limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading “Risk Factors” in the Company’s prospectus dated August 3, 2021 and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company’s profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release except as otherwise required by law.
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