Minco Silver Corporation Starts Initial Exploration Program On Its Norwegian Projects
VANCOUVER, Sept. 6, 2022 - Minco Silver Corp. ("Minco Silver" or the "Company") (TSX: MSV) (OTCQX: MISVF) (WKN: A0ESX5) announced today that it had started an initial exploration program on its newly acquired Sagvoll and Sulitjelma projects in Norway.
At Sagvoll, mineralization and historic mining areas are positioned along a 13-kilometre trend. Although multiple historic mines are present in the area, only limited historical drilling has occurred, most of which were drilled over 100 years ago. Many prospects and mining areas remain untested. The most recent work conducted in the district occurred in 2006 when Xstrata PLC ("Xstrata") flew airborne geophysical surveys and identified five prioritized nickel-copper targets and 11 VMS targets for further exploration and drill testing. However, the follow-up exploration work was never completed. No modern exploration has been conducted during the last two decades.
The initial exploration program consists of the compilation of historical data, re-interpretation of Xstrata EM data, systematic mapping and sampling along the know mineralization trends. The program's objective is to define and delineate areas for drill testing.
Sulitjelma was one of the largest operating base metal mines in Norway. VMS style mineralization occurs along a trend that extends over 20 kilometers and is developed along multiple stratigraphic horizons and structurally repeated sections. Metamorphism and deformation have caused the area's thickening and repetition of mineralized horizons. The district produced over 25 million tonnes, averaging 1.84% copper, 0.86% zinc, 10 g/t silver and 0.25 g/t gold. Significant historical resources were left unmined at the time of closure in the early 1990's. The district has seen minimal modem exploration works during the last 40 years.
Four areas of high interest have been defined for the initial exploration program on the Sulitjelma Project. The Company has acquired the raw airborne VTEM data, including 766-line km, 150m line spacing and 1500 tie-lines. Reid Geophysics has been engaged to reprocess the VTEM data, identify VTEM anomalies, 3D modelling, and geological integration. In addition, systematic mapping and soil/outcrop sampling program is currently conducted over the four selected areas. The Company plans to follow up on the target areas defined and delineated during this exploration program by drill testing.
Mr. Fang Wan, P.Geo, of Minco Silver, is a Qualified Person ("QP") as defined by National Instrument 43-101 ("NI 43-101") and has approved the scientific and technical disclosure in this news release and prepared or supervised its preparation.
For more information on Minco Silver, please visit the Company's website at www.mincosilver.ca.
The information herein may contain "forward-looking statements" within the applicable securities legislation. Forward-looking statements relate to information that is based on numerous assumptions and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.
SOURCE Minco Silver Corp.
Minco Silver Corp., 2060-1055 W. Georgia St., Vancouver, BC, Canada, V6E 3R5, Tel: (604) 688-8002, Fax: (604) 688-8030, E-mail: email@example.com, Website: www.mincosilver.ca.