TORONTO, March 30, 2021 (GLOBE NEWSWIRE) — Stroud Resources Ltd. (TSXV-SDR) (“
Stroud
” or the “
Company
”) confirms that a diamond drill rig will be on site as of April 8, 2021 at its Santo Domingo Silver Property (“Santo Domingo” or the “Property”), following earlier delays. The current demand for drilling services in Jalisco affected the previously arranged drill contractor’s ability to disengage from a previous contract.
With the new drilling contract in place, the Company will initiate Phase I of the drilling program consisting of approximately 3,000 metres of drilling comprising 12 drill holes.
The Company is also pleased to announce it will be adding a second drill at the site to initiate Phase II of the drilling program which will consist of an additional 38 drill holes. The Company intends to complete both drilling programs by summer.
The Company’s Drilling Permit covers 13 drill pad locations encompassing 50 planned drill holes across the Property. The first phase of the drilling program will see 12 drill holes completed on three of the drill sites. These are expected to confirm our current geological and mineral resource modelling of the Property. Interpretations from geological modelling of Santo Domingo had identified additional mineralized zones running parallel to the previously announced Mineral Resource Estimate.
The current planned drilling program will also probe deeper into the hillside to sample silver vein mineralization beyond where historical Spanish miners were active in mining bonanza grade silver. It is our expectation that the grades of silver and gold in these zones should be higher as they have never been accessed historically. The Company expects to prepare a new National Instrument 43-101 (“NI 43-101”) Technical Report and a Preliminary Economic Assessment (“PEA”) following the completion of the two phases of drilling.
Dr. Derek McBride, P. Eng. is the qualified person as defined by National Instrument 43-101 and is responsible for the technical information of this news release.
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 news release.
About Stroud Resources Ltd.
Stroud Resources is a TSXV listed company focused on the exploration and development of its Santo Domingo epithermal silver-gold project in central Mexico.
For more information, please visit
www.stroudsilver.com
or contact Mirsad Jakubovic, Chief Financial Officer, Stroud Resources Ltd., Tel: (416) 888-8731, [email protected]
