Silver Viper Minerals Terminates Option on Clemente Project
TSX VENTURE: VIPR
VANCOUVER, Aug. 27, 2018 /CNW/ - Silver Viper Minerals Corp. (the "Company" or "Silver Viper") (TSXV: VIPR) announces that it has terminated the option agreement on the Clemente Precious - Base Metal Property in Sonora State, Mexico that it entered into on December 2, 2016 with Riverside Resources Inc.
"We would like to thank Riverside for the opportunity to advance the Clemente project and we look forward to working with them again in the future. At this time, our focus has shifted towards the La Virginia project. It is far more advanced and has a history of some very successful drill results while still being underexplored throughout most of the project." said Steve Cope, CEO of Silver Viper.
The La Virginia Gold-Silver Project is 220 kilometres east-northeast of Hermosillo, Sonora, Mexico. Camp and drill pad construction is currently underway and Silver Viper expects to commence drilling on a 5,000 m initial exploration campaign shortly. The first phase of work will be conducted within the Rubi-Esperanza group of claims currently under option by Silver Viper (see news release of the Company dated June 25, 2018).
Silver Viper has received all permits and completed land-owner agreements necessary to commence work. Due to the location of the drilling area, drilling as well as core logging and sampling, will be conducted from the field camp currently under construction. Silver Viper's regional exploration effort continues to prospect and refine additional targets slated for drill testing in the coming months.
About the Company
Silver Viper Minerals Corp. is a Canadian-based junior mineral exploration company focused on precious metals exploration in the northwestern Mexican state of Sonora. The Company's directors and management are industry professionals with a consistent track record of identifying and advancing successful mineral exploration projects.
Dale Brittliffe, P.Geo., Vice President of Exploration, is a 'Qualified Person' under National Instrument 43-101, and has approved the scientific and technical information contained in this news release.
Forward Looking Information
This press release contains forward-looking statements based on assumptions as of that date. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to exploration and development; the ability of the Company to obtain additional financing; the Company's limited operating history; the need to comply with environmental and governmental regulations; fluctuations in currency exchange rates; fluctuations in the prices of commodities; operating hazards and risks; competition and other risks and uncertainties, including those described in the Company's Amended and Restated Prospectus dated July 21, 2017 available on www.sedar.com. Accordingly, actual and future events, conditions, and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
On behalf of the Board of Directors,
Stephen Cope, CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.