Silver Dollar Retains Tetra Tech as Technical Advisors for the La Joya Silver Project in Durango, Mexico
Tetra Tech visited the La Joya Project several times when preparing historical reports including two resource estimates and a preliminary economic assessment
Vancouver, British Columbia--(Newsfile Corp. - October 21, 2020) - Silver Dollar Resources Inc. (CSE: SLV) (OTCQB: SLVDF) ("Silver Dollar" or the "Company") is pleased to announce it has hired Tetra Tech Inc. as technical advisors to work alongside the Company in guiding future exploration efforts on the La Joya Silver Project (the "Project") in Durango, Mexico.
Tetra Tech was previously involved with the Project providing technical support services between 2010 and 2015 when SilverCrest Mines Inc. ("SilverCrest") owned and operated the Project. The Tetra Tech team consists of independent Qualified Persons as defined by National Instrument (NI) 43-101, who previously have visited the Project on several occasions and have completed two Inferred mineral resource estimates and developed a preliminary economic assessment study on behalf of SilverCrest.
We are thrilled to be working with the Tetra Tech team, whose previous experience and knowledge of the La Joya Project is already paying dividends," said Mike Romanik president of Silver Dollar. "This enables us to hit the ground running as we prepare for our initial drilling program. A formal historical data compilation is in progress and will be used for the development of an updated geological model to aid in identifying regional hot spots for follow up exploration."
About the La Joya Project:
Under the terms of the Definitive Agreement between Silver Dollar and First Majestic (see news release of August 10th, 2020), Silver Dollar has been granted an exclusive option to acquire an initial 80% interest, and if exercised, a second option to acquire an additional 20% interest for an aggregate 100% interest in First Majestic's La Joya silver-copper-gold property. The Property, located in the south-eastern portion of the State of Durango in the Mexican Silver Belt (Figure 1), consists of 15 mineral concessions totaling 4,646 hectares and hosts the Main Mineralized Trend (MMT), Santo Nino, and Coloradito deposits (Figure 2).
The Property is situated approximately 75 kilometres (km) directly southeast of the state capital city of Durango in a prolific mineralized region with past-producing and operating mines including Grupo Mexico's San Martin Mine, Industrias Penoles' Sabinas Mine, Pan American Silver's La Colorada Mine, and First Majestic's La Parrilla and Del Toro Silver Mines. Access and infrastructure near the Property are considered excellent with highway, rail, and power lines nearby.
The two mineral resource estimates previously completed by SilverCrest are treated by Silver Dollar to be historical and are not relied upon. Work is required to review and complete data verification in order to update the mineral resource estimates prior to being relied upon as current mineral resources estimates. The preliminary economic assessment previously completed by SilverCrest is not in any way relied upon by Silver Dollar and is not considered to represent a valid economic assessment of the property under current conditions.
- James F. Barr, P.Geo., of Tetra Tech Inc., a Qualified Person as defined in NI 43-101, has reviewed and approved the technical content in this press release.
About Tetra Tech:
Tetra Tech has been serving private and public sector clients through the mining and minerals industry life cycle for over 50 years with access to a network of global offices of mining-focused industry experts. By Leading with Science® Tetra Tech continues to provide innovative, technical solutions to address multidisciplinary challenges related to geology, mine engineering, metallurgy, processing engineering, water management, infrastructure design, transportation, tailings, geotechnical, water management, and environmental services.
About Silver Dollar Resources Inc.
Silver Dollar Resources Inc. is a mineral exploration company focused on creating shareholder value by finding and developing economic precious and base metal deposits. Having completed its initial public offering in May 2020, the Company trades on the CSE under the symbol "SLV" and on the OTCQB under "SLVDF". Silver Dollar's projects are located in two of the prolific mining jurisdictions in the world and include the advanced exploration and development stage La Joya Silver Project in Durango, Mexico, and the discovery-stage Pakwash Lake and the Longlegged Lake properties in the Red Lake Mining District of Ontario, Canada. The Company has an aggressive growth strategy and is actively reviewing projects in mining-friendly jurisdictions internationally for potential acquisition.
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Joseph Cullen,
Investor Relations Manager
Direct line: (778) 919-8615
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ON BEHALF OF THE BOARD
Signed "Michael Romanik"
Michael Romanik,
President, CEO & Director
Silver Dollar Resources Inc.
Suite 108 - 800 Kelly Road, Suite 416
Victoria, BC, V9B 6J9
Forward-Looking Statements:
This news release may contain "forward-looking statements." Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.