TORONTO, Feb. 10, 2022 (GLOBE NEWSWIRE) — Stroud Resources Ltd. (TSXV: SDR) (“
Stroud
” or the “
Company
”) is pleased to report the latest round of core assay results from the drilling program at its Santo Domingo Silver Project (“Santo Domingo” or the “Property” or the “Project”), located in Hostotipaquillo, State of Jalisco, Mexico. The Property, consisting of two concessions that cover approximately 135 ha, is located within the area same area of concessions held by GoGold Resources Inc., who recently announced a planned 2022 drilling program to be located about 500 m south of Stroud’s Project (
see
GoGold Resources news release dated December 30, 2021).
Phase 1 drilling at Santo Domingo returned several drill holes that intersected silver grades exceeding 100 g/t Ag and silver equivalent (“AgEq”), including:
- SD-21-49: 625 g/t AgEq over 1.55 m (103.45-105.00 m)
- SD-21-52: 240 g/t AgEq over 10.5 m (10.80-21.30 m)
-
SD-21-57: 276 g/t AgEq over 6.10 m (14.60-20.70 m), including 514 g/t AgEq over 3.05 m (14.60-17.65 m)
Company President Scott Jobin-Bevans commented, “We are very pleased with the results to date which have demonstrated the potential for several wide vein systems hosting high-grade silver and important gold grades. In addition to the two main vein systems we have also identified new parallel veins, including Zopilote, which will be targeted as part of the soon to begin Phase 2 drilling program.”
Stroud’s 2021 Phase 1 exploration drilling program totalled 7,703 m in 21 diamond drill holes with results from the initial 9 holes released earlier this year (
see
Stroud news release dated January 17, 2022) and results from another 7 drill holes summarized in Table 1. Parameters for the 21 diamond drill holes completed in 2021 are available on the Company website.
The Phase 1 drilling program was designed to explore the extent of known vein system-hosted silver mineralization on the Property and identify additional silver mineralized zones and vein systems which appear to strike parallel to the well defined La Raya and Guadalupe silver vein systems, including the westernmost Zopilote vein system (Figure 1).
Based on positive results and exploration data/information to date, the Company is currently updating its planned Phase 2 drilling program and will refine the program as the balance of assay results are received. Remaining assays from the 2021 drilling program will be reported as they continue to be released from the laboratory. Phase 2 drilling is expected to start soon, with initial assay results expected by the end of Q1 2022.
Table 1. Summary of core assay results for the latest 8 diamond drill holes, Santo Domingo Project, Mexico.
|
Drill Hole |
From (m) |
To (m) |
Interval (m) 1 |
Au (g/t) |
Ag (g/t) |
AgEq (g/t) 2 |
Vein System |
| SD-21-49 | 87.00 | 89.15 | 2.15 | 0.32 | 70.2 | 94.2 | Guadalupe |
| SD-21-49 | 103.45 | 105.00 | 1.55 | 0.01 | 624.0 | 624.8 | Guadalupe |
| SD-21-49 | 131.05 | 133.75 | 2.70 | 0.13 | 42.8 | 52.3 | Guadalupe |
| SD-21-51 | 24.00 | 42.00 | 18.00 | 0.13 | 109.4 | 119.1 | La Raya |
| incl. | 27.00 | 30.00 | 3.00 | 0.18 | 308.0 | 321.5 | La Raya |
| incl. | 36.00 | 40.30 | 4.30 | 0.14 | 145.0 | 155.5 | La Raya |
| SD-21-51 | 44.50 | 51.00 | 6.50 | 0.12 | 51.3 | 60.2 | La Raya |
| incl. | 44.50 | 48.00 | 3.50 | 0.15 | 80.5 | 91.8 | La Raya |
| SD-21-51 | 57.00 | 58.50 | 1.50 | 0.09 | 44.7 | 51.5 | La Raya |
| SD-21-52 | 10.80 | 25.90 | 15.10 | 1.11 | 112.7 | 195.8 | La Raya |
| incl. | 10.80 | 21.30 | 10.50 | 1.36 | 137.5 | 239.9 | La Raya |
| incl. | 18.50 | 19.90 | 1.40 | 3.07 | 130.0 | 360.3 | La Raya |
| SD-21-52 | 53.10 | 54.95 | 1.85 | 0.18 | 67.6 | 81.1 | La Raya |
| SD-21-52 | 77.95 | 84.70 | 6.75 | 0.21 | 35.3 | 51.2 | La Raya |
| incl. | 77.95 | 79.30 | 1.35 | 0.76 | 54.9 | 111.9 | La Raya |
| SD-21-52 | 100.50 | 109.25 | 8.75 | 0.53 | 137.7 | 177.5 | La Raya |
| incl. | 100.50 | 105.80 | 5.30 | 0.83 | 213.9 | 276.4 | La Raya |
| SD-21-52 | 113.95 | 114.25 | 0.30 | 0.37 | 81.7 | 109.5 | La Raya |
| SD-21-52 | 121.25 | 122.65 | 1.40 | 0.05 | 26.5 | 30.3 | La Raya |
| SD-21-52 | 132.85 | 134.20 | 1.35 | 0.16 | 71.3 | 83.3 | La Raya |
| SD-21-57 | 6.00 | 10.55 | 4.55 | 0.50 | 138.2 | 175.8 | La Raya |
| SD-21-57 | 12.60 | 13.25 | 0.65 | 0.18 | 50.4 | 63.9 | La Raya |
| SD-21-57 | 14.60 | 20.70 | 6.10 | 1.05 | 197.4 | 276.3 | La Raya |
| incl. | 14.60 | 17.65 | 3.05 | 2.02 | 362.0 | 513.5 | La Raya |
| SD-21-57 | 183.35 | 184.40 | 1.05 | 0.04 | 64.7 | 67.7 | Guadalupe |
| SD-21-57 | 197.05 | 204.95 | 7.90 | 0.31 | 35.1 | 58.6 | Guadalupe |
| incl. | 200.50 | 203.40 | 2.90 | 0.63 | 61.5 | 108.5 | Guadalupe |
| SD-21-57 | 213.70 | 217.10 | 3.40 | 0.92 | 67.4 | 136.6 | Guadalupe |
| incl. | 213.70 | 214.85 | 1.15 | 1.72 | 102.0 | 231.0 | Guadalupe |
| SD-21-57 | 233.10 | 243.10 | 10.00 | 0.07 | 53.2 | 58.7 | Guadalupe |
| incl. | 233.10 | 241.10 | 8.00 | 0.08 | 57.0 | 63.1 | Guadalupe |
| SD-21-57 | 259.60 | 260.80 | 1.20 | 0.26 | 45.3 | 64.9 | Guadalupe |
| SD-21-58 | 265.30 | 267.05 | 1.75 | 0.32 | 32.4 | 56.4 | Zopilote |
| SD-21-58 | 279.30 | 283.65 | 4.35 | 0.35 | 33.4 | 60.0 | Zopilote |
| incl. | 282.60 | 283.65 | 1.05 | 1.03 | 96.1 | 173.4 | Zopilote |
| SD-21-58 | 291.60 | 293.35 | 1.75 | 0.33 | 39.2 | 64.0 | Zopilote |
| SD-21-68A | no significant assays | ||||||
| SD-21-73 | no significant assays | ||||||
1
drill core intervals are not true widths and are reported as core lengths.
2
AgEq calculated using a silver to gold ratio of 75:1 and assuming recoveries of 100%.
Note: significant assays are considered >25 g/t Ag over >0.5 m interval.
Dr. Scott Jobin-Bevans (P.Geo.), President and a Director of Stroud, is the Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this news release.
About Stroud Resources Ltd.
Stroud Resources is a TSXV listed company (TSXV:SDR) focused on the exploration and development of its Santo Domingo epithermal silver project in central Mexico.
For more information, please visit
www.stroudsilver.com
or contact Mirsad Jakubovic, Chief Financial Officer, Stroud Resources Ltd., Tel: 1-416-888-8731,
[email protected]
.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY
FOR
THE
ADEQUACY
OR
ACCURACY
OF THIS
RELEASE.
The information contained herein contains “forward-looking statements” within the meaning of applicable
securities legislation. Forward-looking statements relate to information that is based on assumptions of
management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements”.
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events
or results to differ from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to the interpretation of the drill results, geology, grade and continuity of mineral deposits.
Should
one
or
more
of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results
may vary materially from those described in forward-looking statements. Investors are cautioned against
attributing
undue
certainty
to
forward-looking
statements.
These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company’s expectations or projections.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/008faa78-d531-4fb7-88da-01c5d07498d4
