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Rio Silver Acquires Additional Gold/Silver Concession at Ninobamba
VANCOUVER, British Columbia, July 23, 2020 (GLOBE NEWSWIRE) -- Rio Silver Inc. ("Rio Silver" or the "Company") (TSX.V: RYO) is pleased to announce that it has a
About this update from Rio Silver Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, July 23, 2020 (GLOBE NEWSWIRE) -- Rio Silver Inc. (\"Rio Silver\" or the \"Company\") (TSX.V: RYO) is pleased to announce that it has acquired by application, an additional 200 hectare concession immediately west of and adjoining our concession that covers our 100% owned Jorimina Gold-Silver zone at (“Niñobamba”). The new concession covers highly oxidized rocks on surface similar to the Jorimina Zone where the previous operator drilled in 2009 an impressive 72.3 metres of 1.19 g/t Au starting at 53 metre depth. In 2016 the Company acquired from Newmont Mining Corp. (“Newmont”) an extensive database containing assays results from drilling and surface sampling along with reports from a substantial exploration program conducted in the late 2000’s. The data contained extensive information on the Jorimina Gold-Silver zone which showed numerous similarities compared to the high-sulphidation silver-gold system identified on the Company’s principal Niñobamba zones located 6.5 kilometers to the east. Expenditures by Newmont in the area exceeded $6.5 million US. Earlier in 2020, the Company contracted Brad Ulry, P.Geo, to construct a conceptual exploration target on the main Niñobamba zones (see Company’s Press Release dated February 27th, 2020). The model focused on the Ninobamba Main zone which can be broken down into two sub-parallel zones (a north and a south zone). The following table summarizes the model: CONCEPTUAL EXPLORATION TARGET RANGE Cut-off grade Tonnes Silver grade Silver grade Silver ounces g/t MT avg. g/t avg. opt million t oz Lower Exploration target 50 7.9 90 2.88 22.9 Higher Exploration target 50 11.1 86 2.78 30.9 The model did not include any gold values as previous operators in some holes did not assay for gold. The gold potential was only recognized by the Company’s geologists in 2012 after an extensive surface exploration and trenching program. Assays from the trenches on the Northern Zone returned 56 m of 1.03 g/t Au and 98.9 g/t Ag in Trench-001 and 21 m of 1.32 g/t Au and 102.5 g/t Ag in Trench-004. The alteration associated with the gold mineralization exposed in trenches is clearly associated vuggy silica indicating a high sulphidation event. Chris Verrico, ...