In a news release, Mexico-focused precious metals exploration company Silver Viper Minerals Corp. (VIPR:TSX.V; VIPRF:OTCQB) announced results from the two latest holes drilled at the El Rubi discovery zone at its La Virginia Gold-Silver Project in Sonora, Mexico.
The firm advised that hole LV21-290, which concentrated on the El Rubi structure, intercepted 28m of 88 g/t Ag and 2.43 g/t Au. Silver Viper Minerals noted that this structure is located within a zone that is believed to host the strongest silver and gold grades within the El Rubi area. The company explained that the 28-meter-long zone consists of two main mineralized sub-intervals including 10.2m of 134 g/t Ag and 3.36 g/t Au and a 14.4m segment averaging 77 g/t Ag and 2.34 g/t Au. The firm stated that it plans to incorporate the data from these latest sets of results into the maiden resource calculation.
The company's President and CEO Steve Cope commented, "The results from LV21-290 further indicate the significance of the La Virginia Project, in particular, the El Rubi discovery zone. The 28.0 meters core length interval reported here was encountered 50 meters along trend in a southerly direction from, and at a comparable elevation to, the 19.3 meters interval previously reported from hole LV21-289. We look forward to continuing to release results from El Rubi and are excited about the upcoming catalyst of a maiden resource on the project."
Silver Viper indicated that it is proceeding with its 2021 exploration program and that its field crews are now actively working on expanding and infilling mapping and geochemical coverage over the project area. The company added that the 2021 program calls for additional follow-up reconnaissance site work, an airborne LiDAR survey and continued exploration drilling at the El Rubi structure, which so far has been intersected by drilling over a 500m strike length at a vertical depth of 300m.
The firm added that low to medium grade silver-gold mineralization has been observed within the footwall of the El Rubi structure in the area Silver Viper refers to as the Western Zone.
The company noted that some of the best results from the El Rubi Zone were recorded from drill hole LV21-290, which included 6.0m of 54 g/t Ag and 2.36 g/t Au and 28m of 88 g/t Ag and 2.43 g/t Au. The lower 28-meter interval started from a drill depth of 384m to 412m and was subsequently divided into two main sub-interval mineralized zones.
Silver Viper Minerals stated that drill hole LV21-291 was drilled from the same pad as LV21-290 and returned separate sections of 1.5m of 225 g/t Ag and 8.1 g/t Au and 4.5m of 25 g/t Ag and 0.51 g/t Au.
The company explained that the La Virginia Gold-Silver Project is located in Sonora, Mexico, about 220 km east-northeast of Hermosillo. The firm noted that the project encompasses a large prospective area and that its reconnaissance program outlined and identified key targets and trends of primary interest and filed strategic claims for those prospective areas that cover approximately 6,882 hectares. The firm noted that upon completion of its 2020 exploration program at La Virginia it had drilled a total of 27,021 meters across 100 drill holes.
Silver Viper pointed out that is the operator of the La Virginia Gold-Silver Project and also owns 100% of the La Virginia concessions that it acquired from Pan American Silver Corp. The company added that it also maintains an option to acquire a 100% interest in the Rubi-Esperanza group of claims that it said are internal to those same concessions.
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