High-Grade Silver in Outcrop Samples and Drilling
Kelowna, BC. – SHINE MINERALS CORP. (TSX.V:SMR) (“Shine” or the “Company”) is pleased to emphasize the high-grade silver potential at its Watts Lake property (the “Property”), located in north-central Saskatchewan, Canada. The company conducted surface mapping and sampling in 2018 and followed up with a seven-hole drill program on the Borys Lake Zone in 2019. Assay results showed not only wide intervals of high-grade lead-zinc mineralization but also associated high-grade silver mineralization.
In 2018, several historic surface trenches were located and sampled along the Borys Lake Zone over ~2.5km of strike length. A total of 26 samples in 5 trenches were collected along the Borys Lake Zone. All 26 samples yielded anomalous silver assay results from 2.1 g/t to 184 g/t Ag (see News Release November 14, 2018). Trench 8, located at the Will A Zone at the south-west end of the zone returned the highest grades of silver overall with five samples returning assay values between 70.2 g/t and 184 g/t Ag. Four additional trenches were sampled over 2km of strike length to the north-east and all samples yielded anomalous silver assays with values ranging from 2.1 g/t to 56.7 g/t Ag. In addition, two trenches on the parallel Cominco Trend approximately 3km to the south, also returned anomalous silver assays, ranging from 2.7 g/t to 7.6 g/t Ag.
In 2019 the Company completed a seven hole drill program testing a 50m section below Trench 4 of the Main Zone, located ~700m northeast of Trench 8. A total of 8 outcrop samples from Trench 4 returned silver values which ranged between 5.3 g/t to 56.7 g/t Ag. Six of the seven holes intersected wide intervals of silver and zinc mineralization. Highlights from mineralized sections include:
- WL19-001: 5m @ 13.71 g/t Ag (31.5m to 56.0m) including
- 0m @ 32.82 g/t Ag (39.0m to 42.0m)
- WL19-005: 0m @ 11.78 g/t Ag (16.0m to 43.0m) including
- 0m @ 24.53 g/t Ag (16.5m to 19.5m) including
- 5m @ 71.5 g/t Ag (17.5m to 18.0m)
- 0m @ 24.53 g/t Ag (16.5m to 19.5m) including
Ross McElroy, Chief Geologist, said, “With silver trading at multi-year highs, and up almost 35% this year, we are excited to highlight the high-grade silver results on the Watts Lake project. Strongly anomalous assay results from both surface outcrop samples (up to 184 g/t Ag) and drill core (up to 71.5 g/t Ag), emphasize the potential to build a high-grade silver resource as well as zinc at the Borys Lake Zone.”
Mineralization within the Main Zone generally has the following characteristics:
- Visually defined by intermittent Galena + Sphalerite + Chalcopyrite
- Zinc, lead and silver occur together. Higher grade zinc values generally have associated higher grades of lead and silver
- Historically, the zinc to lead ratio has been reported at approximately 10:1. Current drilling confirms this.
- Gold is often present, with occasional high values up to 16.1 g/t Au but grades are generally fairly low and highly anomalous values are sporadic. Copper like-wise is anomalous but low grade.
Surface and drill core samples were sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK for analysis. All samples were analyzed using the ICP3 35 element base metal exploration package. Mineralized samples are also analyzed using the base metal assay (wt%) and Gold, Platinum and Palladium by fire assay and ICP OES finish (ppb) packages. Platinum and Palladium results are still outstanding. All depths reported of core interval measurements including sample and interval widths are down-hole and are not always representative of true thickness.
About Watts Lake, including the Borys Lake Zone and Cominco Zone
Watts Lake is a large contiguous land package covering 13,248 hectares, in the established, deposit endowed La Ronge Domain, of Saskatchewan. The project covers multiple, parallel basement conductive corridors, including the ~14km long Borys Lake Corridor, which hosts the historic Borys Lake lead-zinc deposit as well as numerous other mineralized occurrences. Watts Lake is located approximately 65 km north north-east of the town of La Ronge, SK and 20km northwest of the community of Missinipe, SK. The well-maintained gravel Provincial Highway 102 runs north from La Ronge, through Missinipe to Reindeer Lake and its closest point is approximately 12.5km east of the property.
The property has been explored and developed sporadically since the mid 50’s by several companies, most recently Claude Resources Inc. in the early 90’s. Shine is compiling and verifying the considerable amount of historic work on the property. To date, the Company has located, surveyed and sampled 7 historic surface trenches, located several historic drill collars and has reviewed drill core as available. Historic drill hole and surface data is being compiled in a modern geological database. This allows for 3-Dimension spatial visualization to assist in modeling the historic deposit and the on-strike mineralized zones with the aim to understand the geometry, controls on mineralization and identifying areas of potential growth.
The Borys Lake trend follows a southwest-northeast orientation and is coincident with a ~14km long conductive trend as traced from a 2008 airborne versatile time-domain electromagnetic (VTEM) geophysical survey. The Borys Lake trend includes five historic drill-confirmed mineralized zones (Can, Will A, Will B, Main and Mac) and numerous historic outcrop trenches over ~4.5km of strike. The historic resource estimate completed by Husky Oil Operations Ltd. in 1972, included only drill holes testing the Main zone, and to a depth of 30m.
The Cominco trend is located ~3km to the south along a parallel trend to Borys Lake. The Cominco zones occur within a Greywacke-conglomerate and are underexplored compared to the Borys Lake zone. Historically, two main areas of interest were discovered along this trend, referred to as the Cominco A and Cominco B zones respectively from SW to NE. Overall, the Cominco trend appears to be more anomalous in Copper and silver and to a lesser degree in zinc and lead compared to the Borys Lake trend.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Ross McElroy, P.Geol., a qualified person and a Director of Shine.
About Shine Minerals Corp.
Shine Minerals Corp. is a Canadian based resource company specializing in the acquisition, exploration and development of mineral resource assets. The company’s primary asset is the Watts Lake project for which it has entered into an option agreement to acquire a 100% interest. The company is headquartered in Kelowna, British Columbia. Shine Minerals common shares are listed on the TSX Venture Exchange under the symbol “SMR”.
ON BEHALF OF SHINE MINERALS
Ross McElroy, P. Geol.
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