Silver Dollar Retains Country Manager for La Joya Silver Project in Durango, Mexico
Vancouver, British Columbia--(Newsfile Corp. - November 17, 2020) - Silver Dollar Resources Inc. (CSE: SLV) (OTCQB: SLVDF) ("Silver Dollar" or the "Company") is pleased to announce it has hired Mark Malfair as Country Manager to work alongside the Company in guiding future exploration efforts at the La Joya Silver Project (the "Project") in Durango, Mexico.
Based in Durango and bilingual in Spanish and English, Mark is a consulting geologist with 25 years of experience in all phases of the mining industry from prospect generation and exploration through to production. He has served as country manager in both Mexico and Honduras handling all geological, administrative, legal and stakeholder relations aspects of running a company and its exploration programs.
Mark's previous roles include vice president of exploration for Chesapeake Gold Corp. (2007-2015) where he was lead member of the ground team responsible for advancing the Metates Au-Ag-Zn Project in Durango State through pre-feasibility. Metates is the largest undeveloped Au-Ag project in Mexico with proven and probable reserves of 18.5 million ounces of gold, 526 million ounces of silver and 4.2 billion pounds of zinc.
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).
First Majestic acquired the La Joya Property as part of its acquisition of SilverCrest Mines Inc. (SilverCrest) in 2015. A total of 182 historical drillholes, totaling 51,600.16 metres (m), have been completed on the Property to date. SilverCrest drilled 78 of the holes (25,812.65 m) and an additional 11 validation holes (4,272.63 m) during 2011-2012 that were used to support a historical Inferred Mineral Resource estimate for Ag-Cu-Au and for W-Mo mineralization. The mineral resource estimate previously completed by SilverCrest is treated by Silver Dollar to be historical and is not relied upon. Work is required to review and complete data verification in order to update the mineral resource estimate prior to being relied upon as a current mineral resource estimate.
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.
P. 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 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 Canadian Securities Exchange 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.
Investor Relations Manager
Direct line: (778) 919-8615
ON BEHALF OF THE BOARD
Signed "Michael Romanik"
President, CEO & Director
Silver Dollar Resources Inc.
Suite 108 - 800 Kelly Road, Suite 416
Victoria, BC, V9B 6J9
This news release may contain "forward-looking statements" that 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.
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