VANCOUVER, BC and HONG KONG / ACCESSWIRE / May 26, 2022 / Reyna Silver Corp. (TSXV:RSLV);(OTCQX:RSNVF);(FRA:4ZC) ("Reyna'' or the "Company") is pleased to announce commencement of its 2022 exploration program on the 4,831 hectare Medicine Springs Project ("Medicine Springs") in Nevada. Medicine Springs is an 80% Earn-In from Northern Lights Resources (CSE: NLR) ("Northern Lights") and shows many of the earmarks of a significant Carbonate Replacement Deposit (CRD) similar to the Santa Eulalia District in Chihuahua Mexico which hosts Reyna's Guigui Project.
2022 Exploration Program Includes
- Refining drilling targets based on on-going reevaluation of historic geological, geochemical, and geophysical data provided by Northern Lights and combining them with Reyna's Selective Jasperoid Sampling survey completed in January, which returned strong results for Silver, Lead, Zinc, and Copper, including over 1,000 g/t silver in two samples (see press release dated Jan. 10, 2022 and below);
- Conducting additional field studies to fine-tune drill targets including in-fill Jasperoid sampling in the most anomalous areas;
- Permitting the upcoming campaign through the Bureau of Land Management (BLM) Notice of Intent (NOI) process;
- Organizing camp and drilling support logistics; and
- Undertaking a fully budgeted 5,000-7,000 m of drilling in H2, 2022.
"We are excited to kick off our fully-funded, drilling-focused exploration campaign at Medicine Springs, which preliminary work indicates is a fully-preserved CRD system," commented Jorge Ramiro Monroy, Reyna Silver's CEO. "Medicine Springs is emerging as the third keystone in our portfolio of district-scale silver projects, and we look forward to uncovering its potential as we keep Guigui and Batopilas moving ahead full steam."
"We are very eager to get drills turning on Medicine Springs where we're seeing 10 out of the 13 hallmarks of a long-lived, multi-phase CRD system even before the rigs show up," said Dr. Peter Megaw, Chief Technical Advisor of Reyna Silver, "We're very pleased to see how our fieldwork has complemented the solid foundation Northern Lights put together for the project."
Medicine Springs hosts Carbonate Replacement Deposit (CRD) mineralization exposed at a very high level marked by a very well-developed swarm of multi-stage NE-SW trending jasperoid-barite veins that cut across the entire property. These veins are inferred to mark the principal hydrothermal fluid pathways, so earlier this year Reyna Silver conducted a Selective Jasperoid Sampling survey focused on them (see Press Release dated Jan.10, 2022). The results show zoning of Copper, Lead-Zinc, and Silver and are interpreted to indicate a CRD mineralization center at depth.
Historic data from Northern Lights for the property cover: small-scale early 20th Century mining; more contemporary shallow reverse-circulation and core drilling primarily focused on near-surface oxide targets; magnetics and CSAMT geophysics; and extensive rock chip and soil sampling. Comparison of the combined Northern Lights and Reyna field data to Reyna's CRD continuum exploration model supports the idea that the full CRD spectrum is present within the land position.
Figure 1. Map of the target area for the upcoming 2022 drilling campaign at Medicine Springs overlaying the results from Reyna Silver's Jasperoid Selective sampling survey. The target area is highlighted by the red ovoid.
On Behalf of the Board of Directors of Reyna Silver Corp.
Jorge Ramiro Monroy
Chief Executive Officer
For Further Information, Please Contact:
Reyna Silver Corp.
Jorge Ramiro Monroy, Chief Executive Officer
[email protected]
www.reynasilver.com
QA/QC STATEMENT
Reyna Silver follows industry standard procedures for rock-chip sampling for exploratory geochemical analyses. Rock chip samples generally weigh between 1 and 3 kg. Samples were submitted to the certified ALS Global facility in Elko, Nevada where the entire sample was crushed to 70% passing less than 2mm, then 250g were rotary split and pulverized to better than 85% passing 75 microns. The pulps were shipped to ALS Global in Vancouver, British Columbia for analysis. Geochemical analyses were done by ALS Global in Canada under an ISO 1702 Quality management system. Pulps were analyzed for precious, base-metals, and multi-elements using method code ME-MS41 following an aqua regia digestion. Overlimit values for Ag, Pb, and Zn were analyzed using method codes Ag-OG46, Pb-OG46, and Zn-OG46. Multi-element certified standards, blanks, and duplicates were systematically inserted into the sample stream to monitor lab performance.
QUALIFIED PERSON
Dr. Peter Megaw, Ph.D., C.P.G., the Company's Chief Exploration Advisor and Qualified Person, reviewed the technical aspects of the exploration projects described herein and is responsible for the design and conduct of the exploration program and the verification and quality assurance of analytical results. Dr. Megaw is not independent as he and/or companies with which he is affiliated hold Net Smelter Royalties on the Guigui and Batopilas Projects that predate Reyna Silver acquiring them.
ABOUT REYNA SILVER
Reyna Silver Corp. (TSXV:RSLV) is a growth-oriented junior exploration and development company focused on exploring for high-grade, district-scale silver deposits in Mexico and USA.
Reyna's principal properties are the Guigui and Batopilas Properties in Chihuahua, Mexico and the Medicine Springs property in Nevada, USA. Guigui covers the interpreted source area for the Santa Eulalia Carbonate Replacement District (CRD) and Batopilas covers most of Mexico's historically highest-grade silver system. Medicine Springs, where the Company has an option to acquire an 80% interest, appears to host a largely buried, widely developed CRD system.
Cautionary Statements This document contains "forward-looking statements" within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration results and plans, and our other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. Such forward-looking statements include, without limitation, our estimates of exploration investment, the scope of our exploration programs, and our expectations of ongoing administrative costs. There can be no assurance that such statements will prove to be accurate, and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company's documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and we do not undertake any obligation to update forward-looking statements should conditions or our estimates or opinions change, except as required by law. Forward-looking statements are subject to risks, uncertainties and other factors, including risks associated with mineral exploration, price volatility in the mineral commodities we seek, and operational and political risks. Readers are cautioned not to place undue reliance on forward-looking statements. |
SOURCE: Reyna Silver Corp.