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Stroud Resources Ltd. Outlines Drilling Program for its Santo Domingo Silver Property, Mexico
TORONTO, Nov. 12, 2020 (GLOBE NEWSWIRE) -- Stroud Resources Ltd. (TSXV-SDR) (“Stroud” or the “Company”) is pleased to announce that its drilling permit applicat
About this update from Stroud Resources Ltd.
[{"type":"text","content":" TORONTO, Nov. 12, 2020 (GLOBE NEWSWIRE) -- Stroud Resources Ltd. (TSXV-SDR) (“Stroud” or the “Company”) is pleased to announce that its drilling permit application is in the final approval stage with the Mexican mining authority for its Santo Domingo Silver Property (the “Property”), located in Hostotipaquillo region of Jalisco, Mexico. Stroud submitted its drilling permit application in respect of its Santo Domingo Property in mid July when the Mexican government office in Guadalajara re-opened from a COVID-19 shutdown. We have been tracking the progress of the application and are pleased to note it has reached the final post-review stage. We anticipate receiving the drilling permit by the end of this year. The drilling permit covers 13 drill sites encompassing 50 drill holes across the Property, which incorporates both drilling programs that the Company has planned for early 2021. The first drilling program will use at least three of the sites and is designed to confirm the geological and mineral resource modelling of the Property which Stroud has developed. Our modelling of the Santo Domingo Property had identified additional mineralized zones running parallel to the previously announced mineral resource estimate. The current planned drilling program will also reach deeper into the ground to sample the silver-rich vein mineralization beyond where Spanish miners were active. It is our expectation that the grades of silver and gold in these zones would be higher as they have never been accessed. The second phase of the drilling program will use the remaining 10 drill sites to expand and in-fill drill the resources in order to produce a new National Instrument 43-101 (“NI 43-101”) Technical Report and a Preliminary Economic Assessment (“PEA”). The Company has been readying the camp at Santo Domingo in anticipation of the granting of the drilling permit for the drilling program. We expect to be mobilized within 10 days of receiving the permits. On November 20, 2017, the Company issued an updated NI 43-101 Mineral Resource Estimate and Technical Report on the Santo Domingo Property. This report is available online at SEDAR and on the Company’s website. Highlights from the technical report include: Measured and indicated mineral resources increased to 25.74M silver equivalent ounces from 15.05M. Inferred mineral resources increase...