Silver Viper Minerals Acquires La Virginia Gold-Silver Concessions in Sonora, Mexico from Pan American Silver Corp
TSX VENTURE: VIPR
VANCOUVER, Dec. 17, 2018 /CNW/ - Silver Viper Minerals Corp. (the "Company" or "Silver Viper") (TSX-V: VIPR) is pleased to announce that it has acquired three large mineral concessions totaling 35,598 hectares ("ha") that comprise part of the La Virginia Gold-Silver Project in Sonora, Mexico, from a subsidiary of Pan American Silver Corp. ("Pan American") pursuant to an assignment agreement dated December 14, 2018 (the "Assignment Agreement"). The Assignment Agreement, combined with the previously announced option agreements providing Silver Viper with rights to acquire 2,102 ha of concessions (the "Optioned Properties") from certain third parties (see June 22, 2018 news release), has allowed Silver Viper to consolidate its land holdings into a single La Virginia Gold-Silver Project. The La Virginia Gold-Silver Project is situated in the prolific Sierra Madre Occidental region of eastern Sonora State, Mexico. A map detailing the land positions is provided on the Silver Viper website.
Under the Assignment Agreement, Pan American is entitled to a 2% net smelter return royalty over the entirety of Silver Viper's consolidated La Virginia Gold-Silver Project. The Assignment Agreement provides Pan American with a right of first refusal on the Optioned Properties in the event that Silver Viper does not exercise its option and a right of first offer over the entirety of Silver Viper's consolidated La Virginia project.
The La Virginia area is characterized by laterally extensive epithermal-style, gold-silver mineralization in quartz stockworks, veins and hydrothermal breccias, hosted in andesites and felsic dykes. Mineralization is controlled by structures related to the north-northwest regional trend. Anomalous geochemical results have been returned from these structures along the length of the property. Historical mining activities in the core claims, evidenced by several underground workings, are developed on zones of increased silica alteration and veining. The largest historical workings, "La Virginia" and "Con Virginia" are still accessible and host mineralization ranging between one metre to greater than 20 metres in thickness. The addition of the concessions will provide Silver Viper access to strike extensions and potential parallel mineralized structures in addition to the upside of a 40km long regional exploration property.
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.
About the Company
Silver Viper Minerals Inc. is a Canadian-based junior mineral exploration company focused on precious metals exploration in northwestern Mexican state of Sonora. Silver Viper is under management provided by the experienced Belcarra Group Management Ltd ("Belcarra Group"). The Belcarra Group is comprised of highly qualified mining professionals.
On behalf of the board of directors,
President and CEO
Forward Looking Information
Information set forth in this press release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations and 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, 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. 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.
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