VANCOUVER, BC / ACCESSWIRE / November 9, 2021 / Fabled Silver Gold Corp. ("Fabled" or the "Company") (TSXV:FCO)(OTCQB:FBSGF)(FSE:7NQ) announces final results from underground diamond drilling of the increased 1,400-meter underground drill program on the "Santa Maria" Property in Parral, Mexico, see Figure 1.
Figure 1 - Plan View of Area of Current Underground Drilling with Modeled Mineralized Intrusive Dikes
SMUG21-20
Exploration diamond drill hole SMUG21-20 was drilled at 0-degree dip or flat and was designed to test the continuation of a Northeast trending silver impregnated intrusive intersected in previously reported SMUG21-18, 200 meters to the southwest, and surface diamond drill holes SM20- 1,2, 3, 500 meters to the northeast as seen above in Figure 1.
As previously reported SMUG21-18 was successful in the interception of a wide, low-grade silver impregnated northeast trending intrusive dike, or finger, from 58 - 129 meters. This 71-meter intercept ended in mineralized intrusive dike.
Underground hole SMUG21-20 intercepted a reddish, oxidized breccia with limestone clasts over a 11.7-meter intercept starting at 37.8 meters. From 63 meters to the end of the hole at 100 meters a reddish, oxidized mineralized dike was encountered over the entire 37 meters. The dike contained 1 mm stockwork quartz veining with oxidized pyrite. From 63 meters to 79.5 meters the 16.50-meter intercept reported 22.08g/t Ag Eq with higher grade 1.50 meter intercepts of 56.06 g/t Ag Eq and 39.57 g/t Ag Eq, respectively. See Figure 2; Photos 1, 2 and Table 1 below;
Figure 2 - Cross Section of Underground Drill Hole SMUG21- 20
Photo 1; SMUG21-20, Oxide Breccia
Photo 2; SMUG21-20, Mineralized Oxidized Dike
Table 1- Drill hole SMUG 21- 20 Assay Results
Drill Hole | From m | To m | Width m | Au g/t | Ag g/t | Ag Eq* g/t | Pb % | Zn % | Cu % |
SMUG21-20 | 63.00 | 79.50 | 16.50 | 0.04 | 20.02 | 22.08 | 0.01 | 0.03 | 0.00 |
Including | 63.00 | 66.00 | 3.00 | 0.11 | 41.90 | 47.56 | 0.02 | 0.03 | 0.00 |
Including | 63.00 | 64.50 | 1.50 | 0.11 | 50.40 | 56.06 | 0.03 | 0.04 | 0.00 |
Including | 64.50 | 66.00 | 1.50 | 0.12 | 33.40 | 39.57 | 0.02 | 0.02 | 0.00 |
- ** Ag Equivalent ("Ag Eq") grade is calculated using $20 per ounce Ag and $1,600 Au
This intercept is on trend with the intercepts of surface diamond drill holes SM20-1,2,3 which were collared 500 meters to the northeast and drilled in one fence or section. Hole SM20- 01 reported a broad zone of silver mineralization within the intrusive dike, such as 68.60 meters grading 53.24 g/t Ag Eq with higher grade intervals at a depth of -85 meters vertically. The deeper hole SM20-02 reported 6 meters grading 351.66 g/t Ag Eq at a vertical depth of -105 meters, and hole SM20-03 reported 12.50 meters of 110.51 g/t Ag Eq with numerous higher-grade intercepts at a depth of -300 meters. See Figure 3 below.
Figure 3- Cross Section of Surface Drill Holes SM20-01 - 03, inclusive
SMUG21-21
SMUG21-21 was successful in the interception of 0.6 meters of the remaining Santa Maria Footwall structure from the collar, or beginning, of the hole which graded 47.92 g/t Ag Eq. Please note that the collar of the drill station is in the mined-out section of the Santa Maria footwall.
This was followed by silicified limestone until 42 - 47.5 meters where the hole intercepted 24.20 meters of weakly mineralized intrusive dike.
From 60.8 meters to 63.3 meters, the 5.5 meter interval consisted of a greenish aphanitic dike transitioning to a mineralized oxidized limestone from 63.3 - 72.6 meters. A 2.5 meters intercept reported 20.87 g/t Ag Eq with 0.7 meters reporting 27.91 g/t Ag Eq.
See Figure 4, Photo's 3, 4 and Table 2 below.
Figure 4- Cross Section of Underground Drill Hole SMUG21- 21
Photo 3 - SMUG21-21; Porphyritic Dike
Photo 4 - SMUG21-21; Mineralized Oxidized Limestone
Table 2- Drill hole SMUG21-21 Assay Results
Drill Hole | From m | To m | Width m | Au g/t | Ag g/t | AgEq* g/t | Pb % | Zn % | Cu % |
SMUG21- 21 | 0.00 | 0.60 | 0.60 | 0.29 | 33.00 | 47.92 | 0.02 | 0.11 | 0.00 |
60.80 | 63.30 | 2.50 | 0.02 | 19.84 | 20.87 | 0.00 | 0.06 | 0.00 | |
Including | 60.80 | 61.50 | 0.70 | 0.01 | 27.40 | 27.91 | 0.00 | 0.05 | 0.00 |
- ** Ag Equivalent ("Ag Eq") grade is calculated using $20 per ounce Ag63.86 and $1,600 Au
FUTURE UNDERGROUND DRILLING UPDATE
These results conclude the Phase 1 preliminary underground drill program and as such all hole drilled have been reported.
The Underground exploration diamond drill hole program was successful in outlining or intersection the various objectives such as defining the locations of the various types of mineralized intrusive dikes and related breccia's in addition to expanding the high grade portion of the Santa Maria Footwall and ot Hanging wall structures.
Please follow our surface definition drilling program as results become available.
QA QC Procedure
Analytical results of sampling reported by Fabled Silver Gold represent core samples that have been sawn in half with half of the core sampled and submitted by Fabled Silver Gold staff directly to ALS Chemex, Chihuahua, Chihuahua, Mexico. Samples were crushed, split, and pulverized as per ALS Chemex method PREP-31, then analyzed for ME-ICP61 33 element package by four acid digestion with ICP-AES Finish. ME-GRA21 method for Au and Ag by fire assay and gravimetric finish, 30g nominal sample weight.
Over Limit Methods
For samples triggering precious metal over-limit thresholds of 10 g/t Au or 100 g/t Ag, the following is being used:
Au-GRA21 Au by fire assay and gravimetric finish with 30 g sample.
Ag-GRA21 Ag by fire assay and gravimetric finish.
Fabled Silver Gold monitors QA/QC using commercially sourced standards and locally sourced blank materials inserted within the sample sequence at regular intervals.
About Fabled Silver Gold Corp.
Fabled is focused on acquiring, exploring, and operating properties that yield near-term metal production. The Company has an experienced management team with multiple years of involvement in mining and exploration in Mexico. The Company's mandate is to focus on acquiring precious metal properties in Mexico with blue-sky exploration potential.
The Company has entered into an agreement with Golden Minerals Company (NYSE American and TSX: AUMN) to acquire the Santa Maria Property, a high-grade silver-gold property situated in the center of the Mexican epithermal silver-gold belt. The belt has been recognized as a significant metallogenic province, which has reportedly produced more silver than any other equivalent area in the world.
Mr. Peter J. Hawley, President and C.E.O.
Fabled Silver Gold Corp.
Phone: (819) 316-0919
peter@fabledfco.com
For further information please contact:
The technical information contained in this news release has been approved by Peter J. Hawley, P.Geo. President and C.E.O. of Fabled, who is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Neither the TSX Venture Exchange nor its Regulations Service Provider (as that term is defined in the policies of the TSX Venture Exchange) does accept responsibility for the adequacy or accuracy of this news release.
Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains any required regulatory approvals.
Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; industry conditions, including fluctuations in commodity prices; governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in mining operations; changes in tax laws and incentive programs relating to the mining industry; as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
SOURCE: Fabled Silver Gold Corp
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