Silver Grail Resources: 2018 Exploration Results
TSX VENTURE: SVG
February 6, 2019 / TheNewswire / Vancouver, BC -- Silver Grail Resources Ltd. ("Silver Grail") ("SVG"-TSX-V) is pleased to announce results from surface programs carried out over its properties in 2018.
Three follow-up sampling programs were carried out over the 100% owned, Pacifico property located at the northern end of Vancouver Island. The principal target of these efforts was a stream from which a BC Regional Geochemistry survey had returned a value of 584 ppm cobalt, the highest stream/mossmat geochemical sample for that metal in the province. Three geochem samples were taken from the side of a road from close to the government geochem sample site, returning values of 224, 228 and 682ppm cobalt--all highly anomalous. Subsequently, a grid was emplaced and thereafter over a hundred soil samples were taken to the east, in an area transected by the anomalous stream. Sporadic cobalt highs of 180, 220 and 344ppm were obtained from marshy sites situated along the stream course. Results suggest that the source of the cobalt anomalies is further upstream. Accompanying all of the 2018 geochemical cobalt anomalies were high values in manganese, ranging from 0.5 to 5.6%.
Part of the 2018 exploration program at the Pacifico involved taking soil and/or rock samples at regular intervals along a small portion of the logging road network that criss-crosses the property. This limited work identified three anomalous areas with potential to host porphyry copper type mineralization. In one of these areas, four successive samples taken along 400m of road returned values ranging from 152 to 313ppm, averaging 202ppm. In another location over 2km away, a series of rock grabs along a partially uncovered face contained anomalous copper values. A single sample from a third site, taken from an altered intrusive rock containing very minor amounts of malachite (exposed at the side of the road), returned an assay of 1.8% copper.
Further follow-up prospecting and sampling is planned to assess the copper potential of the property as well as to continue the search for the source of the anomalous cobalt values found in streams and soils. Additional staking has been carried out.
On the Company's Roman property east of Harrison Lake, jointly owned with Teuton Resources Corp., geochemical soil sampling was carried out in 2018 in an attempt to extend known cobalt-nickel anomalies beyond the edges of a soil grid emplaced several years ago. This work was successful in extending the anomalies to the west and south.
Minor sampling was also carried out on Silver Grail's 100% owned Kobald claims This work attempted to follow-up a highly anomalous copper-cobalt stream sediment anomaly identified during a BC Regional Geochemistry survey. Although the source of the government stream sample was not determined, three of the float samples taken returned anomalous values in cobalt and copper. More follow-up work is planned.
Samples taken during the 2018 programs were analyzed by Activation Laboratories Ltd. in Kamloops, BC. and SGS Canada Inc.in Burnaby, BC. Both are accredited laboratories.
The Qualified Person for the purposes of this news release is Dino Cremonese, P.Eng., President of Silver Grail Resources Ltd.; Mr. Cremonese, as president and director of the Company, is not independent of the Company.
"Dino Cremonese, P.Eng."
President, Silver Grail Resources Ltd.
This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. Silver Grail Resources Ltd. does have an ongoing obligation to disclose material information, as it becomes available.