Ranger-Page Project is located in the Coeur d'Alene Mining District, a world-class silver district where over 90 mines have operated since the first major silver-lead-zinc discovery was staked in 1884
Vancouver, British Columbia--(Newsfile Corp. - November 26, 2024) - Silver Dollar Resources Inc. (CSE: SLV) (OTCQX: SLVDF) (FSE: 4YW) ("Silver Dollar" or the "Company") is pleased to announce the commencement of its inaugural diamond drilling program at the Ranger-Page Project.
Photo 1: Integri-Core drill rig setup on RP-2024-001
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https://silverdollarresources.com/images/Ranger-Page/Rig-Setup_RP-24-001.jpg
The initial drill target is the Crown Point Mine area, which is located within a kilometre of the Bunker Hill Mine (Figure 2) that was in production from 1885 to 1981 and is scheduled to restart production in the first half of 2025.
Based on the limited historical records available, mining at Crown Point started in the late 1800s with the first 3,000 tons shipped from the mine being high-grade supergene ores with up to 80 ounces per ton silver and 65% lead.1 As mining continued, out of the oxidized rocks, head grades dropped to more typical hypogene ore grades of 5 to 30 ounces per ton silver with 20% lead. After mining to 134 metres below ground surface, mining reportedly stopped in the 1950s partially due to fluctuating metal prices and complex lease agreements.
The 2022 IP survey identified a deep polarization anomaly down-plunge from the historic Crown Point Mine that has never been drill tested. The anomaly is coincident with surface geochemical data and positive trenching results over the area, which has improved the confidence level in this target, and it will be the first to be drill tested in 2024. Three holes are initially planned to test the deep anomaly with the objectives of expanding the mineralized footprint 190 metres below the lowest mine workings and locating the deep projection of the Crown Point mineralized system along with the historically reported Shea Zone and the Osburn Fault Zone (Figure 1).
Figure 1: Crown Point target looking north with polarization anomaly and proposed drill holes.
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About the Ranger-Page Project
The Ranger-Page Project is located in a world-class silver district. The land package covers six historic mines and is ideally situated near Interstate 90 with year-round access to power, water, local infrastructure and a workforce in the Silver Valley skilled in exploration and mining. The primary target areas are up and down plunge from historic underground mining, along strike where ground induced polarization (IP) surveys identify anomalies, and where surface trenching identified near surface mineralization. Additional exploration targets have also been identified away from historic mine infrastructure, using soil geochemical data, mapping, and ground IP survey data.
Figure 2: Ranger-Page claim groups, underground mine workings, and new target areas.
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Dale Moore, P.Geo., an independent Qualified Person (QP) as defined in National Instrument 43-101, has reviewed and approved the technical contents of this news release on behalf of the Company.
About Silver Dollar Resources Inc.
Silver Dollar is a dynamic mineral exploration company focused on two of North America's premier mining regions: Idaho's prolific Silver Valley and the Durango-Zacatecas silver-gold belt. Our portfolio includes the advanced-stage Ranger-Page and La Joya projects, along with the early-stage Nora project. The Company's financial backers include renowned mining investor Eric Sprott, our largest shareholder. Silver Dollar's management team is committed to an aggressive growth strategy and is actively reviewing potential acquisitions with a focus on drill-ready projects in mining-friendly jurisdictions.
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ON BEHALF OF THE BOARD
Signed "Michael Romanik"
Michael Romanik,
President, CEO & Director
Silver Dollar Resources Inc.
Direct line: (204) 724-0613
Email: mike@silverdollarresources.com
179 - 2945 Jacklin Road, Suite 416
Victoria, BC, V9B 6J9
Forward-Looking Statements:
This news release may contain "forward-looking statements." Forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this news release.
Referenced Source:
1. USGS - The Geology and ore deposits of the Coeur d'Alene district, Idaho
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231390
SOURCE: Silver Dollar Resources Inc.
