Silver Sands Resources Commences Airborne Geophysics at Detour Lake Property
Vancouver, British Columbia--(Newsfile Corp. - July 22, 2020) - Silver Sands Resources Corp. (CSE: SAND) (the "Company" or "Silver Sands") is pleased to announce the commencement of an airborne geophysics survey at its Detour Lake Gold project in the Detour Lake District, Ontario, Canada.
Prospectair Geosurveys Inc. of Gatineau, Quebec will undertake the high-resolution heliborne magnetics survey at 50 metre line spacings across the entire 3,840 hectare property. The regional magnetics show strong folding in the west block and changes in strike of magnetic lineaments in the east block. Gold deposits in the Detour Greenstone Belt are strongly structurally related, so the objective of the survey is to confirm the location of structure for ground follow-up in preparation for later drilling.
"The Archean greenstone belts of Ontario and Quebec have historically been the source of considerable Canadian gold," said Silver Sands CEO Keith Anderson. "Our Detour Lake gold project is ideally located with one such belt that hosts the Detour Lake Gold Deposit among other deposits," he continued. "The airborne magnetics survey should help define potential gold bearing structures for later drilling," he concluded.
About Detour Lake:
- Located in the Detour Greenstone Belt, host to the Detour Gold Mine Complex, the Fenlon Gold Project recently discovered by Wallbridge Mining, the Balmoral Resources Ni-Cu Discovery, the past and current producing Casa Berardi Mine and the past producing Selbaie VMS Mine;
- Only Detour Gold and Aurelius Minerals have any significant land holdings in the area and the SAND Detour Lake Gold Project is contiguous to both;
- Structural setting combined with postulated gabbroic intrusive makes an excellent host for potential gold mineralization;
- Proximal to the Zone 58N Gold Deposit and the Lipton Gold Zone; and
- The Company is earning a 100% interest, subject to a 2% NSR, by making cash payments of $95,000, issuing 3 million shares and completing $650,000 in exploration expenditures over the next three years. The Company can buy out the total NSR for $1,000,000.
Silver Sands cautions investors mineralization on the above mentioned properties is not necessarily indicative of similar mineralization on the Northbound claim block.
About Silver Sands Resources Corp.
Silver Sands is a well-financed, Canadian-based company engaged in the business of mineral exploration and the acquisition of mineral property assets in mining-friendly jurisdictions. Its objective is to locate and develop economic precious and base metal properties of merit. The company has signed a definitive agreement with Mirasol Resources to acquire a 100-per-cent interest in the 73,411-hectare Virginia silver project, its key asset. There is an indicated mineral resource of 11.9 million ounces of silver at 310 grams per tonne silver and an inferred resource of 3.1 million ounces of silver at 207 g/t Ag in 2016.
The technical content of this news release has been reviewed and approved by R. Tim Henneberry, P.Geo. (BC) a Qualified Person under NI43-101 and a Director of Silver Sands.
On Behalf of the Board of Directors
Chief Executive Officer, Director
For further information, please contact:
Chief Executive Officer, Director
This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future capital expenditures, anticipated content, commencement, and cost of exploration programs in respect of the Company's projects and mineral properties, anticipated exploration program results from exploration activities, resources and/or reserves on the Company's projects and mineral properties, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "will", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the Company's option to acquire the Maple Bay Project, the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the Canadian Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, the Company's limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading "Risk Factors" in the Company's prospectus dated August 30, 2019 and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this presentation or incorporated by reference herein, except as otherwise required by law.
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