VANCOUVER, BC, Nov. 29, 2021 /CNW/ -- Silverton Metals
Corp. (TSX-V: SVTN) (OTCQB: SVTNF) ("Silverton" or the "Company") is pleased to
announce it has signed an access agreement with the
Comisariado Ejidal of Ejido Mapimi, owner of the communal land on
which the Company's Pluton silver – zinc project is situated, in
Durango, Mexico. The three-year
agreement provides for access to the land for surface exploration
work including diamond drilling, and use of a core storage
facility. Silverton has initiated
exploration work on the property including preparations for a
seismic survey scheduled for January
2022, which will be followed by data integration, analysis,
target selection and drill permitting in 1H2022 and drilling in
2H2022.
Recent processing and 3D-modelling of geophysical data
commissioned by the Company reveals new target areas and features
not previously identified, which are potentially related to
mineralization. To date, magnetometry reprocessing has been
completed while ZTEM and gravity modelling are nearing completion.
The seismic profile is expected to determine the depth to carbonate
rocks that host silver-rich manto-chimney deposits (carbonate
replacement deposits) in the district (see SVTN news release dated
October 25, 2021).
Mr. John Theobald, President
& CEO of Silverton, comments, "I am pleased to have
successfully concluded a three-year access agreement for Pluton.
The district is a major hydrothermal system with excellent
potential to locate high-grade silver-zinc manto-chimney deposits
similar to those mined in the historic Ojuela Mine and the nearby
Platosa mine, which is Mexico's
highest-grade silver mine with a silver equivalent grade of over
1,000g/t1. The ZTEM and gravity geophysical data
analysis is nearing completion and once we also have results from
the seismic survey in 1Q2022 we will firm up and permit our targets
in 1H2022 with the view to drilling selected targets in
2H2022."
1 Excellon's website corporate presentation
July 2021
The Company is also pleased to announce that it has engaged
Proactive investors North America
Inc. ("Proactive") to provide editorial coverage of the Company for
a period of twelve months using interview-based articles, audio –
video interviews, promotion on social media, a curated profile page
and other articles for a period of twelve months. Proactive is a
multimedia news organization and investor portal operating
financial websites with news, commentary and analysis on listed
companies and the global financial market. Total consideration for
services provided by Proactive is $25,000, with the option to renew for an
additional twelve months. The Company and Proactive are at arm's
length and, to the Company's knowledge, Proactive does not have any
direct interest in the Company or its securities. The agreement is
subject to the acceptance of the TSX Venture Exchange.
Qualified Person
The scientific and technical information contained in this news
release has been reviewed and approved by Peter Born, P. Geo., a Qualified Person for the
purpose of NI 43-101.
On behalf of the Board
John Theobald
President, CEO & Director
Silverton Metals Corp
About Silverton Metals Corp.
Silverton Metals Corp. is a Canadian company focused on the
exploration and development of quality silver projects. The company
holds a 100% interest in three significant silver assets in
Mexico – Pluton, in Durango,
Peñasco Quemado in Sonora and La
Frazada in Nayarit. Silverton management and board have extensive
experience identifying and evaluating acquisition targets and
exploration prospects. The company intends to build a strong
portfolio of silver and gold-silver projects to drive future growth
by exploration success and from later stage projects with
production potential. To achieve this growth, the Silverton business plan calls for a dynamic
combination of development of its existing properties,
acquisitions, and partnerships.
For further information please contact:
Silverton Metals Corp.
W. Barry Girling, VP Corporate
Development and Director
(604) 683-0911
Forward-Looking Statements
Information set forth in this news release contains
forward-looking statements that are based on assumptions as of the
date of this news release. These statements reflect management's
current estimates, beliefs, intentions and expectations. They are
not guarantees of future performance. Silverton cautions that all forward looking
statements are inherently uncertain and that actual performance may
be affected by a number of material factors, many of which are
beyond Silverton's control. Such
factors include, among other things: risks and uncertainties
relating to Silverton's limited
operating history and the need to comply with environmental and
governmental regulations. Accordingly, actual and future
events, conditions and results may differ materially from the
estimates, beliefs, intentions and expectations expressed or
implied in the forward looking information. Except as required
under applicable securities legislation, Silverton undertakes no obligation to publicly
update or revise forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
For further information please contact:
Silverton Metals Corp.
John Theobald, CEO and Director
www.silvertonmetals.ca
(604) 683-0911
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SOURCE Silverton Metals Corp.