VANCOUVER, Oct. 2, 2017 /CNW/ - Silver Viper Minerals Corp. (the "Company" or "Silver Viper") (TSX-V: VIPR) is pleased to announce that it is mobilizing a diamond drill to the Clemente Precious - Base Metal Property in Sonora State, Mexico. Drill testing of priority silver-gold targets is expected to commence this week.
The Company plans to complete an initial 2,000 m HQ core drilling test, marking first ever drilling on the property. The initial test will focus on the El Mundo and Nuevo Mundo prospect areas in a location scattered with small historical workings known locally as "Mina Grande". Situated approximately 42 km south of the regional mining and agricultural centre of Caborca, silver, gold and base metal mineralization at Clemente is hosted by quartz shear veins, quartz stockworks and hematitc vein breccias. Preliminary confirmation chip sampling by the Company returned a best result grading 1,895g/t silver, 4.46g/t gold 1.95% lead and 1.62% zinc from a 0.5 m chip sample within El Mundo workings.
"We are extremely excited to begin exploration on a target-rich project that has never been drilled before. We have a great technical team in place and look forward to developing our understanding of the Clemente project through our maiden exploration program," said Steve Cope, CEO of Silver Viper.
Known mineral deposits in the region demonstrate strong structural control. Previous work on Clemente recognizes a complex post-depositional history including two phases of thrust faulting, subsequent folding and later extensional faulting. Silver Viper considers the property to be highly prospective and is preparing an aggressive field campaign to coincide with the initial drill test.
The Company currently has permits and land use access agreements to conduct the work and has a field crew completing preparatory activities including drill pad building and camp setup in anticipation of the drill's arrival.
About the Company
Silver Viper Minerals Corp. is a Canadian-based junior mineral exploration company focused on precious metals exploration in the northwestern Mexican state of Sonora. The Company has an option to acquire 100% interest in the Clemente Precious-Base Metals Property from Riverside Resources Inc. The Clemente project is highly prospective, located within the prolific Sonora-Mojave megashear. The Company's directors and management are industry professionals with a consistent track record of identifying and advancing successful mineral exploration projects.
Dale Brittliffe, P.Geo., Vice President of Exploration, is a 'Qualified Person' under National Instrument 43-101, and has approved the scientific and technical information contained in this news release.
Forward Looking Information
This press release contains forward-looking statements based on assumptions as of that date. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to exploration and development; the ability of the Company to obtain additional financing; the Company's limited operating history; the need to comply with environmental and governmental regulations; fluctuations in currency exchange rates; fluctuations in the prices of commodities; operating hazards and risks; competition and other risks and uncertainties, including those described in the Company's Amended and Restated Prospectus dated July 21, 2017 available on www.sedar.com. Accordingly, actual and future events, conditions, and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
On behalf of the Board of Directors,
Stephen Cope, CEO
Neither the 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 release.
SOURCE Silver Viper Minerals Corp.
For further information: Silver Viper Minerals Corp., 1055 W Hastings St, Suite 1130, Vancouver, BC, V6E 2E9, Stephen Cope, CEO , (604) 687-8566, [email protected]