Business
Silver Dollar Submits Drilling Permit Application for Nora Silver-Gold Property
The Company is fully funded and ready to commence its first drilling program since acquiring the ...
About this update from Silver Dollar Resources, Inc.
[{"type":"text","content":"Silver Dollar Submits Drilling Permit Application for Nora Silver-Gold PropertyThe Company is fully funded and ready to commence its first drilling program since acquiring the project in AprilVancouver, British Columbia--(Newsfile Corp. - August 1, 2023) - Silver Dollar Resources Inc. (CSE: SLV) (OTCQX: SLVDF) (FSE: 4YW) (\"Silver Dollar\" or the \"Company\") is pleased to report it has submitted a drilling permit application for the next phase of drilling at the high-grade Nora silver-gold property (the \"Property\") in the state of Durango, Mexico.Figure 1: Location of Nora property and other mines and deposits in the region.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/7232/175554_d3c427120449fa2f_001full.jpg\"With the surface rights agreements in place, we look forward to starting our inaugural exploration campaign on the Nora property once the drilling permit is received,\" said Michael Romanik, president of Silver Dollar. \"Multiple drilling contractors have visited the Property, and we are currently evaluating their bids.\"Silver Dollar can acquire a 100% interest in the Nora property under an option agreement with Canasil Resources Inc. Situated in the Eastern Sierra Madre sub-province, in the transition to the high plateau of Mexico, the Property lies centrally within the \"Silver Trend\" that runs from the northwest to the southeast through Durango State. Significant deposits in the region include Endeavour Silver's Guanaceví mine and Fresnillo's San Julián mine on-trend to the northwest, with Endeavour Silver's Pitarrilla Project approximately 50 kilometres (km) to the east. Pitarrilla is one of the largest undeveloped silver deposits in the world and was discovered by Perry Durning and Frank (Bud) Hillemeyer, who serve as Silver Dollar's technical advisors.Figure 2: Nora property looking north at the main outcrop of the Candy vein structure.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/7232/175554_d3c427120449fa2f_002full.jpgThe geological setting is a Tertiary-aged volcanic flow-dome complex. Gold-silver mineralization is hosted within two structurally controlled epithermal veins, Candy and Nora. Drilling by Canasil in 2020 and 2021 was the first on the Property, with 3,296 metres (m) drilled over 13 holes t...