Hi Ho Silver Resources Announces Acquisition by Staking of Two Promising Silver Properties
Vancouver, British Columbia--(Newsfile Corp. - February 18, 2021) - Hi Ho Silver Resources Inc. (CSE: HHS) (OTC Pink: HHSRF) (FSE: H9T1) ("Hi Ho" or the "Company") is pleased to announce that it has acquired, by staking, two promising silver properties: the Isle Silver Property and the Tatler Silver Property.
The Isle Silver Property consists of 6 units totalling 123.97ha in the Slocan Mining Division located 41km northwest of Kaslo, BC. Mineralization is hosted within a 20m wide shear zone. High silver values occur with massive sulphides on the apex of dragfolds within the shear zone. A chip sample across 0.6m of vein assayed 2358g/tonne silver, 29.9% Pb, 10.4% Sb and 9.7 g/tonne Au as sampled in 1980 by D.W. Tully, P.Eng. (1980). Minor diamond drilling and a small bulk sample returned lower results.
The Tatler Silver Property consists of 22 units totalling 452.97 ha in the Golden Mining Division located 35km southwest of Invermere, BC. There are eight documented silver showings at the Tatler Silver Property; the mineralization is localized along fault structures in limey sediments and in replacement bodies associated with these structures. The following sample results were obtained by N. Tribe, P.Eng., in 1990:
At the Copper King prospect a 1.0 metre wide chip sample across the vein assayed 75 grams per tonne silver, 1.22% copper, 1.08% zinc and 0.25% lead.
At the Great Northern prospect a 1.2 metre chip sample across the mineralized vein assayed 35 grams per tonne silver, 4.37% lead and 1.05% copper (Property File - see 082KSE004, Sheppard, EP (1971): Geological Report on the Tatler Group).
At the Butler prospect the vein has been explored with two adits and a 150 metre long crosscut. A 50 cm chip sample across the mineralized vein assayed 250 grams per tonne silver, 3.0% copper, 1.26% zinc and 0.5% lead.
The Imperial prospect consists of five quartz-barite veins containing some tetrahedrite and azurite. The main vein is 90 to 130 centimetres wide and has been exposed for approximately 30 metres along strike. The veins strike 155 degrees and dip 80 degrees west. All veins are within the middle dolomite member of the Mount Nelson Formation. Mineralization appears to be associated with tensional fractures on the crest of a northwest-trending anticline. A 1.22 metre wide chip sample across the main vein assayed 210 grams per tonne silver and 4.03 per cent copper.
The historic work on both these properties was conducted by competent professionals. However, the historic work was completed before the advent of modern 43-101 standards and cannot be considered reliable. The only relevance herein is strictly geological information. The Company intends to conduct follow-up sampling as soon as possible to obtain current information. The Company does not consider the historic sampling as current or as an indication of what might be found on the claim holdings.
Due to snow conditions the Company has not completed any current work on the properties. Since there has been road access in the past the Company intends to conduct a sampling program later in 2021.
The technical content of this news release has been approved by J.T. Shearer, M.Sc., P.Geo. (BC & Ontario), a Qualified Person under NI 43-101.
About the Company
Hi Ho Silver Resources Inc. is a Vancouver based mineral exploration company dedicated to the exploration and development of precious and base metal mineral deposits and other mineral opportunities in North America and elsewhere.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this news release.
This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate', "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
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