September 10, 2021 – Vancouver, British Columbia – Highlander Silver Corp. (CSE:HSLV) (the “Company” or “Highlander”) is pleased to provide an update on its ongoing exploration program at its Alta Victoria silver-polymetallic project (the “Project”) in central Peru, and advises that its new website is now on-line and can be viewed at www.highlandersilver.com.
The Project is located 160 kilometers northeast of Lima and consists of 18 mining concessions over a total area of 71 km2 within the Central Cordillera Polymetallic Mineral Belt, which hosts major scale silver and polymetallic mineral deposits. The district has produced over 1.5B oz Ag 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 adjacent properties is not necessarily indicative of the mineralization of the Company’s properties.
The Project hosts silver-rich polymetallic mineralization in a mid-late Cretaceous sequence of siliclastic and overlying carbonate sedimentary rocks. Mineralization exposed at surface and in underground mining extends over an area of approximately 4 km x 1 km. Styles of mineralization include stratabound mantos and replacements, high angle veins, breccias and irregular replacement bodies.
Two target areas, referred to as Pachas and Santa Teresita, emerged from the results of multiple generations of surface work from different companies, including Pan American Silver Corp., Glencore plc, Solitario Zinc Corp. and Minera Sociedad Corona S.A., beginning in 2007. The Company commenced exploration of the Project in 2017. Initial exploration included surface geologic mapping, systematic sampling, magnetics and IP geophysical surveys as well as sampling and inspection of historic, small scale underground mine workings. Historic mining on the property dates back to the 1970´s.
In the Panchas area, prospects include the Victoria Mine, Adriana North, Adriana East, Buenas Estrellas and the Sanguinetti mine. Sampling in and around these prospects has returned high-grade gold and base metal mineralization suggesting a proximal intrusive source. Multiple chip and grab samples have returned grades of up to 6.2 g/t Au, 4,800 g/t Ag, 0.64% Cu, 18.7% Pb, 30.1% Zn and 0.14% Mo. The Victoria Mine was worked up until 2018, having produced 1,500 tonnes at an average grade of approximately 10 opt Ag (311 g/t), 10% Pb.
At Santa Teresita, moderate to high-grade Au-Ag and base metal mineralization is hosted by brecciated sandstones. Mineralization occurs in a 400m diameter area defined by surface soil and rock sampling, centered on a structural intersection located on the NNW trending ridge of Cerro Pucara. Here a 20 centimetre quartz-galena-barite vein returned 9.6 g/t Au, 2,230 g/t Ag, 0.3% Cu, 9.5% Pb and 2.3% Zn. Santa Teresita is considered to be a distal, manganese rich, precious metals prospect.
In the fourth-quarter of 2020, the Company completed a 2,300 metre, seven diamond drill hole, scout drilling program. Six of the seven drill holes were collared in the Santa Teresita area while one hole was drilled to test the depth extension of the Sanguinetti Mine mineralization, part of the Pachas area. Table 1 below shows highlight results from this short program that effectively tested less than 10 hectares of the total 7,132 hectare property.
Table 1: Selected Results from the 2020 Alta Victoria Drill Program
* Reported intervals do not represent true thickness. True thickness is unknown at this time.
Ongoing exploration is focusing on detailed work to better define potential targets in the Pachas and Santa Teresita Areas. In parallel, steps are being taken to cover more of the concession block on a reconnaissance level aimed at generating additional areas of interest and potential drill targets.
In recent days the Company has completed a ground gravity and unmanned aerial vehicle (UAV) magnetometer survey over the Laguna Pachas target zone in the northwestern part of the project area. This geophysics program consists of 37 NW-SE lines carried out by UAV magnetometer survey for a total of approximately 61 line-kilometres. Ground gravity measurements were carried out in a 100m x 100m grid for a total of 270 field stations with all stations surveyed using differential GPS. A high-resolution digital elevation model (DEM) was developed over the area prior to the start of the survey in order to facilitate the processing and interpretation of the data. These surveys will be integrated with mapping and geochemistry to develop drill targets that are planned to be tested in 2022.
In addition, the Company’s board and management team are actively targeting additional mineral projects to acquire within Peru and South America. Further details on these efforts will be disclosed over the coming weeks as progress continues. The Company has a strong treasury, with approximately $3.5 million in working capital and a solid shareholder base.
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.
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. Additional information relating to Highlander Silver Corp. is available on its SEDAR profile at www.sedar.com.
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Forward-looking Information Cautionary Statement
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