September 29, 2021 – Vancouver, British Columbia – Highlander Silver Corp. (CSE:HSLV) (the “Company” or “Highlander”) is pleased to report high-grade rock chip sample results from ongoing reconnaissance exploration at its 71km2, Alta Victoria silver-polymetallic project (the “Project”) in central Peru. In addition, the company has added two key members to the local Peruvian team.
- New discoveries of high-grade silver-lead-zinc-gold mineralization in previously unworked areas adjacent to, and northwest of the Buena Estrella prospect and along strike to the Victoria mine
- Rock chip samples from these areas returned up to 270 g/t Ag, 11.25% Pb, 23.70% Zn
- Mineralization is controlled by northeast trending feeder structures and favorable stratigraphic horizons which hosts highly anomalous multi-element geochemistry in soil and rock samples.
Prospective area grows SW & NW of Buena Estrella
Three northeast trending, mineralised structural corridors, have been identified along strike to the northwest for 1.2 km (see Figure 1). Mineralisation is hosted in the lower member of the Jumasha Formation (“Fm”) limestone. Multi-element anomalism has been defined based on a high-density survey of soil and rock samples using a portable X-Ray Fluorescence (pXRF) analyzer. The survey was conducted over a 1500 x 500 metre area between the Buena Estrella prospect and the Victoria mine where previously unknown mineralization was found to occur in outcrop and/or small historic prospect pits. Rock chip sampling of this mineralization returned high-grade silver, lead and zinc results along with anomalous gold, copper, arsenic, antimony and tellurium (see Table 1). Follow up rock chip sampling collected for multi-element ICP analysis and detailed mapping in the upper Buena Estrella area has been completed with sample results pending.
“We continue to be highly encouraged by the results from our exploration efforts and the discovery potential at Alta Victoria,” said Ron Stewart, President and CEO of Highlander. “Based on the extent of the alteration and anomalous geochemistry we’ve identified at surface, together with the size and intensity of the IP chargeability anomaly, we believe the Alta Victoria has the potential to host a significant deposit comparable to other major polymetallic deposits in the district. We expect to continue to find compelling new drill targets to be tested in the coming months.”
Mineralization is spatially associated with feldspar porphyritic dikes and sills and also occurs as poorly exposed heterolithic, hydrothermal breccia bodies hosted in lower Jumasha Fm limestones. The old Buena Estrella mine workings occurs within a 300-metre wide, northeast trending, white, bleached and variably leached hornfelsed alteration zone. The trend of this structural corridor is on strike with the Adriana North prospect over 500 metres to the NE. Adriana North hosts multiple anomalous rock samples collected by Highlander including the highest-grade sample taken thus far on the property that assayed 4820 g/t silver. Mineralization at Adriana North also occurs as a manto-style layer at the contact between the siliciclastic Farrat Fm and the overlying Pariahunca Fm limestones. The Company believes this to be a highly prospective stratigraphic horizon dipping moderately to the west-southwest.
Buena Estrella Prospect
The Buena Estrella prospect comprises 2 underground workings separated by approximately 25 metres vertically. Quartz-barite-sulfide-oxide “feeder” veins featuring pyrite, Zn, Pb and Cu oxides trend NE-SW and dip steeply to the NW. One select sample from a 0.3 metre thick sub-horizontal manto in the upper level assayed 228 g/ Ag, 0.45% Cu, 11.3% Pb, 30.1% Zn and 0.14% Mo. (see: NI 43-101 Technical Report titled “Alta Victoria Polymetallic Property, Huaros and Marcapomacocha Districts, Canta and Yauli Provinces, Departments of Lima and Junín, Peru”, dated effective April 30, 2021). In the broader sense the Buena Estrella Prospect is part of the Pachas target area which also incorporates the Victoria Mine, Adriana North, Adriana East, and the Sanguinetti mine.
The Victoria Mine was active on a small scale up until 2018. The property owner and operator focused on select high grade lead-silver mineralisation hosted in Jumasha Fm limestone. Production over a 15 year time span is estimated to be 1500 metric tonnes of ore with an average grade of 10% lead and 10 ounce per tonne (311 g/t) silver.
Most of this year´s field work has been focused on better defining known targets, specifically in the Santa Teresita and Pachas areas. A 61 line-km of UAV (drone) magnetic survey along with a 270-station gravity geophysical survey were recently completed over roughly 2.5 square kilometers in the Pachas area. Compilation and data analysis will be completed once the final sample results from ALS labs are received.
Going forward, field work will concentrate on areas that have received little or no attention in the past. It is important to note that of the 7,132 hectares of exploration ground controlled by Highlander, over half of the project area has yet to be explored and only 7 drill holes have been drilled to date.
The Alta Victoria Project is located 160 kilometers northeast of Lima and consists of 18 mining concessions within the Central Cordillera Polymetallic Mineral Belt, which hosts major scale silver and polymetallic mineral deposits. The district has produced over 1.5 billion ounces silver historically from carbonate replacement deposits, skarn, vein, manto, and diatreme related deposits. Five major mines (Uchucchacua, Santander, Chungar, Iscaycruz and Casapalca) lie along and/or adjacent to the Alpamarca Fault to the NW and SE of the Project. Concessions controlled by Highlander straddle nearly 14 km of the Alpamarca/Chonta Fault at the heart of this district. Note that information regarding mines in the district is not necessarily indicative of the mineralization of the Alta Victoria property.
Key Positions Filled
The company is very pleased to announce the addition of Joanna Liu, as company administrator and Alex Tadeo, Exploration Manager – Peru. Both Ms. Liu and Mr. Tadeo have extensive experience in the mineral exploration and mining profession.
Ms. Liu has worked in the administrator capacity and held positions as General Manager and Director for Peru based junior exploration companies starting in 2004 with Gallant Minerals and continued in such roles for Canadian Shield Resources, Estrella Gold, Alianza Minerals and CAPPEX Mineral Ventures leading up to the combination with Lido Minerals resulting in the formation of Highlander Silver Corp. In addition to being a highly competent administrative professional, Ms. Liu holds an associates degree in Peruvian Mining Law.
Mr. Tadeo will take on much of the day to day management of Highlander´s exploration activities in Peru. As Senior Exploration Geologist, Alex brings over 14 years of Peruvian and international exploration and mining experience and is credited with increasing the reserve base at the artisanal Santa Rosa mine to 7Moz Ag resulting in a mine production rate of 350 tpd. In his most recent role working with the Stellar Mining Group, Alex led his exploration team in discovering the Maria-Cecilia Cu-Mo porphyry system subsequently sold to Camino Minerals.
Phil Anderson, Exploration Director for Highlander commented “I could not be more pleased than to have the opportunity to continue working with Joanna and have Alex join the local team. Both individuals bring the talent, knowledge, competence and professionalism needed for these two critical positions to support and lead Highlander to exploration success in Peru.”
Additional information about Highlander and its mineral projects can be viewed on the Company’s SEDAR profile at www.sedar.com and its website at www.highlandersilver.com, including the technical information referenced in this news release which can be found in the NI 43-101 Technical Report on the Project filed on SEDAR under Highlander Silver Corp.’s profile and is available for download at the link above.
All new rock and soil samples reported in this press release were delivered to ALS Peru S.A., a certified laboratory located in Lima, Peru for preparation and analysis. Rock samples were weighed, dried, crushed to 70% <2mm and riffle split while soils were weighed, dried and screened to -180 μm. A 250g subsample was pulverized to 85% <75 μm for both rock and soil sample types. All samples were assayed using a 30g nominal weight fire assay with atomic absorption finish (Au-AA25) for gold, and 48 elements by 4-acid ICP-MS (method ME-MSC61). When MS61 results were >100ppm for Ag and 10,000 for Pb, Zn and Cu assays were reported using four-acid digest method (Ag -OS62 and base metal ME-OG62). No standards or blanks were inserted by Highlander. ALS routinely inserts certified gold, silver and base metal standards, blanks and pulp duplicates, and results of all ALS QA/QC samples are reported. The standard, blank and duplicate samples used by ALS were considered sufficient QA/QC for Highlander’s sample analysis.
Hand-held Xray Refraction Fluorescence (pXRF) analysis has been conducted in the field on rock and soil using a model XRF540622 SA GEOCHEM ANALYSER KIT. The instrument is rented from AMC Reflex located in Lima, Peru. The instrument is rented complete with a calibrating disc and a series of 6 standards. Highlander field technicians are careful to periodically re-calibrate the instrument throughout each day in the field to maintain the maximum level of data integrity that is collected.
Qualified Person Statement
All scientific and technical information contained in this news release was prepared and approved by Ronald Stewart, P.Geo., President and CEO of Highlander Silver Corp. who is a Qualified Person as defined in NI 43-101. Mr. Stewart has verified the scientific and technical information disclosed in this news release by reviewing all of the sampling, analytical and drilling data from the Company’s drill program, the technical report on the Project, as well as reviewing and referencing published scientific papers, historical NI 43-101 reports, news releases, and government assessment reports related to the Company’s properties that outline their geology and structure, mineralization potential, and deposit style.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer
Highlander Silver Corp.
810 – 789 West Pender Street
Vancouver, BC V6C 1H2 (604) 687-2038
About Highlander Silver Corp.
Highlander Silver Corp. is a mineral exploration company focused on the exploration of the Alta Victoria silver-polymetallic project 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.
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