August 9, 2022 – Vancouver, British Columbia – Highlander Silver Corp. (CSE:HSLV) (the “Company” or “Highlander”) is pleased to provide an update on exploration activities including plans to drill its flagship Alta Victoria Project. Regarding advances on the Politunche Project, the Company has purchased the entire data package in the possession of Solitario Zinc Corp relating to work performed up to the end of 2011 on and around the 600 hectares making up the property.
The company is moving forward with plans to drill test priority targets generated from work carried out over the past 18 months, focusing on the Pachas and Santa Teresita target areas (see News Release of May 13, 2022). Permit adjustments have been submitted and are being reviewed by government authorities. The Company anticipates approvals to be in place whereby ground preparation and mobilization of personnel and equipment will commence the second half of August. Highlander has awarded the drill contract to Energold Peru based in Lima.
Furthermore, the Company has negotiated and executed a one year extension of the surface access agreement with the local community starting from June 1, 2022 and continues to enjoy community support for ongoing exploration of the property.
The Company has purchased all data and supporting information from Solitario Zinc Corp. generated from their work in the area which culminated in an 11 hole, 2015.6 metre diamond drilling program in 2011. The complete data package includes the following:
- Complete drill logs & core photos (Highlander has managed to salvage much of the drill core which has been re-boxed and logged by company geologists, however significant portions of mineralized intervals are missing. As a result, these logs and photos will be important for the Company to incorporate into the ongoing work on the project)
- 1062 multi-element geochemical analysis from drill core samples
Surface mapping and sampling information
- 1,924 combined rock chip and channel samples with multi-element geochemical analysis
- 712 soil samples with multi-element geochemical analysis
- Surface geological mapping
Sampling by Highlander this year on the Politunche property includes 95 surface rock samples where 13 of the 95 samples assayed between 540 g/t AgEq and 1627 g/t AgEq across a 2 km, north-south trending area. Previous drilling by Solitario also resulted in significant drill intercepts returning 1.3m @ 641 g/t AgEq, 4m @ 339 g/t AgEq and 54m @ 59 g/t AgEq (see News Release of February 21, 2020). AgEq calculated based on: $1650/oz Au, $20.60/oz Ag, $0.90/lb Pb, $1.15/lb Zn.
DRILL CORE PHOTO: Solitario drill hole DDAZ-03 @ ~165 metres depth
The photo clearly shows early gold bearing, thin, gray, sheeted and stockwork veining cut by thicker Intermediate Sulfidation (IS) veins and vein breccia mineralization containing high grade silver, lead- zinc sulfides with fine silica, white bladed barite, and fine veinlets of manganese carbonate.
This overprinting relationship indicates two unique mineralizing events whereby silver-lead-zinc mineralization in the form of epithermal IS veins overprint pre-existing, low grade gold mineralization often seen in gold rich porphyry systems. Implications of this multi-episodic mineralizing system further suggest larger scale and potential that was possibly not recognized earlier.
Highlander has paid US$20,000 and issued 200,000 common shares to Solitario for this information. Phil Anderson, interim President & CEO of Highlander commented “The purchase of this data from Solitario is a big step in advancing our understanding of the Politunche property area while saving valuable time and expenditures for Highlander. Once integrated into the Highlander database, the Company will be in a position to proceed at an accelerated pace to generate drill targets and commence the drill permitting process”.
About Highlander Silver Corp.
Highlander Silver Corp. is a mineral exploration company focused on the exploration of silver-polymetallic projects in central Peru, as well as targeting the acquisition of additional mineral projects by leveraging the team’s significant experience in Peru and South America more widely. Additional information about Highlander and its mineral projects can be viewed on the Company’s SEDAR (www.sedar.com) profile at www.sedar.com and its website at www.highlandersilver.com
Neither the Canadian Securities Exchange (CSE) nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this news release.
For further information, please contact:
Chief Executive Officer
Highlander Silver Corp.
(604) 283 7630
Certain information contained in this news release constitutes “forward-looking information” under Canadian securities legislation. This includes, but is not limited to, information or statements with respect to the future exploration plans of the Company, timing of future exploration, anticipated results of exploration and potential mineralization of the Project. Such forward looking information or statements can be identified by the use of words such as “believes”, “plans”, “suggests”, “targets” or “prospects” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “will” be taken, occur, or be achieved. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company and/or its subsidiaries to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking information. Such factors include, among others, general business, economic, competitive, political and social uncertainties, the actual results of current exploration activities, , changes in project parameters as plans continue to be refined, future prices of precious and base metalsaccident, labour disputes and other risks of the mining industry, and delays in obtaining governmental approvals or financing. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein are made as of the date of this news release. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. Accordingly, the reader is cautioned not to place undue reliance on forward-looking information.