Toronto, Ontario – March 15, 2023 (Newsfile Corp.) (Investorideas.com Newswire) Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the “Company” or “Kuya Silver”) is very pleased to report a drill core intersection of native silver mineralization at its wholly-owned Campbell-Crawford area of the Silver Kings Project, located in the Cobalt, Ontario mining camp (Figure 1, 2).
This new discovery (Figure 3) is located within a 1 km radius of five major mines, with a total historic production of 48.2 million ounces of silver (Crown Reserve, Deerhorn, Drummond, King Edward, Nova Scotia). The area is less than 1 km north of the North Drummond area and 750 m southeast of a 1,300 oz/t silver intercept from 1981 underground drilling by Silver Century Explorations Ltd. (Benner 1982).
Native silver was intersected in the second drill hole at the Campbell-Crawford area and drilling is ongoing along trend
Mineralization in this vein appears to be primarily native silver, but minor cobalt mineralization is also recognized
Silver stringers occur above and below the silver vein, significantly increasing the potential width of mineralization
Drill intersection was made 170 m below the nearest underground workings (1910s exploratory tunnelling) and 230 m below surface
The Campbell-Crawford area, despite being surrounded by historic mines and mineral occurrences, has remained virtually untested since exploration occurred in the early twentieth century and the area has never been mined
Assay results are pending
Figure 1: Metallic silver mineralization in newly-drilled core, Campbell-Crawford area of the Silver Kings Project.
Figure 2: Carbonate veining containing semi-massive, native silver mineralization from the Campbell-Crawford area, Silver Kings Project, Cobalt mining camp, Ontario. This interval of NQ diamond drill core was from hole 23-SK-08, which intersected mineralization at 237 m downhole. Visually-identified silver mineralization occurs along approximately 150 cm of core (not true thickness). Two styles of mineralization are observed: semi-massive silver in carbonate veins, and thin (1-2 mm) stringers hosted in fractures within the wall rock. Core box is 150cm (1.5 m) long. Assay information is not yet available.
David Lewis, Kuya Silver’s Exploration Director, commented: “Despite more than a century of intensive mining and exploration, the legendary Cobalt mining camp can still generate exciting results. The Campbell-Crawford area was known to host low-grade mineralization on surface and in shallow exploration tunnels, but it had never been tested systematically. Work by Kuya Silver personnel in 2022 identified the area to host favorable structures for mineralization, particularly at depth (specifically at the lower contact of the Nipissing Diabase), and two drill holes were planned to test near this contact.”
“The first drill hole (23-SK-07) intersected previously known, narrow mineralized veins adjacent to a fault within the diabase, then the lower diabase contact, then four previously unknown narrow mineralized veins at depth. The second hole (23-SK-08), which was stepped back and drilled beneath the first drill hole, intersected the first of the previously known veins immediately below the diabase contact. We were very excited to see the silver mineralization in drill core, confirming our exploration model for the area.”
Campbell-Crawford target area
Cobalt-bearing veins (which are known to occur with, or grade into, silver-bearing veins), were discovered on surface in 1906. Between 1906 and 1930, two small shafts were sunk and 175 m of exploratory tunneling (adit and associated drifting) was done on a single level, with the maximum depth of workings is 35 m below surface. All shafts and adit workings are restricted to rocks of the Nipissing Diabase sill. Two diamond drill holes, totaling 560 m, were drilled in 1930. The historic description of the property is compiled after Sergiades (1968).
Mineralization in the Cobalt mining camp is spatially associated with the margins of a 300 m thick, subhorizontal and gently-folded sheet of Nipissing Diabase. The historic Campbell-Crawford workings are located near the center of this sheet; in contrast, this mineralized veining was intersected approximately 10 m below the contact.
Figure 3: Maps and vertical sections of the Campbell-Crawford area, Silver Kings Project. The Campbell-Crawford area is less than 1 km from five major mines, with total historic production of 48.2 million ounces of silver. Although cobalt-bearing veins were known on surface and in shallow exploratory workings, the lower diabase contact, where veins generally cluster, had never been tested. Silver mineralization was intersected in hole 23-SK-08, immediately below the diabase contact.
Benner, R.I. 1982. Report on the Silver Century Explorations Ltd. Group of Properties, Cobalt Ontario.; Kirkland Lake Resident Geologist’s Office, Coleman Township, assessment file 31M05NE0412.
Sergiades, A.O. 1968. Silver Cobalt Calcite Vein Deposits of Ontario; Ontario Department of Mines, Mineral Resources Circular No. 10, 498p.
National Instrument 43-101 Disclosure
The technical content of this news release has been reviewed and approved by Mr. David Lewis, P.Geo., Exploration Director of Kuya Silver and a Qualified Person as defined by National Instrument 43-101.
About Kuya Silver Corporation
Kuya Silver is a Canadian-based mineral exploration and development company with a focus on acquiring, exploring, and advancing precious metals assets in Peru and Canada.
For more information, please contact:
David Stein, President and Chief Executive Officer
Telephone: (604) 398-4493
This news release contains statements that constitute “forward-looking information,” including statements regarding the plans, intentions, beliefs, and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words “may,” “would,” “could,” “will,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “expect,” “must,” “next,” “propose,” “new,” “potential,” “prospective,” “target,” “future,” “verge,” “favourable,” “implications,” and “ongoing,” and similar expressions, as they relate to the Company or its management, are intended to identify such forward-looking information. Without limiting the generality of the foregoing statements, any discussion of the potential of exploration targets is forward-looking information. Investors are cautioned that statements including forward-looking information are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those described in the forward-looking information as a result of various factors, including but not limited to fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing, and general economic, market, and business conditions. There can be no assurances that such forward-looking information will prove accurate, and therefore, readers are advised to rely on their own evaluation of the risks and uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
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