NOCSF - Norseman Silver Completes Exploration at Caribou Silver Copper Property and Silver Switchback
(TheNewswire)
Vancouver, British Columbia – TheNewswire - October 4 ,2021 – Norseman Silver Inc. (TSXV: NOC ) , ( OTC: NOCSF ) (“ Norseman ” or the “ Company ”) ispleased to announce that two teams have beendeployed and completed the prospecting work at Caribou and thenewly-acquired Caribou North concession area, located in BritishColumbia, Canada.
The focus of the program was on expanding previouslyannounced results that include 4.93% copper,242.5 g/t silver in a 7.6 m trench within a 1500 metre by 500 metresoil anomaly. The prospecting work in the northern block involvedmapping and rock sampling within the 1,867 hectare concession. TheIn-fill geochemical soil sampling program conducted closer-spaced gridspacing which were sampled during the 2011 and 2017 surveys. This newsoil sampling program will cover a 117-hectare Eastern Block where theNH prospect is located and another 115-hectare Western Block.
A ground IP-Resistivity survey has been completed inthe NH prospect area and its immediate vicinity within the EasternBlock. The program consisted of a total of 6 IP line kilometres withina 45-hectare area. The results of this IP survey will complement thedata from the closer-spaced soil sampling program to better definemineralized targets for further sub-surface evaluation throughtrenching and/ drilling.
Silver Switchback Update
The surface program which involved geologic mapping with rock and grid soil geochemicalsampling has been completed. Exploration has successfully extended thesoil grid lines further to the east and northwest directions of thepreviously delineated soil geochemical-anomaly zone. In addition, 4more in-fill lines were added to the south. The 2021 surface mappingand sampling program covered in greater detail an approximately 3-km.long and 1.40 km-wide NW-SE trending soil geochemical anomaly zone atthe Switchback property. A total of 373 soilsamples were collected during this latest field campaign, yielding atotal number of 923 soil samples collected to date. Likewise, eight(8) rock outcrop and float samples were collected during the course ofthe mapping activity, obtaining a total of 109 rock samples in totalthus far.
In addition to the main Switchback Showing (CentralZone), the closer-spaced soil sampling density has indicated 2 moredistinct geochemical anomaly zones (the NW and SE Zones) along the3-km. target area. The two additional zones include a 20-hectare NWZone and another 70-hectare SE Zone. The silver anomalies are stronglycoincident with the gold, zinc and arsenic anomalies in the Centraland SE zones. Silver in soils have elevated values as high as 24ppmwhile maximum values of 0.30ppm for Au, 2,711 ppm for Zn and 191ppmfor As were also picked up. Soil anomalies in Cu are more distinct inthe Central and NW zones and showed values as high as 1,148 ppm. Alead anomaly is more distinct in the SE and values as high as 1,309ppm were detected.
Due to the scarcity of rock outcrops, very limited rocksamples were collected during this latest field assessment. Mostnotable of the newly-collected samples are from two outcrops ofmassive, gray/white to purple and fine-grained andesitic rock linedwith thin but semi-massive pyrite veinlets associated with minor finespecks of chalcopyrite and bornite. These rocks assayed 0.04% to 0.06%Cu and 0.91 to 2.2 g/t Ag. All the other rock samples are highlyoxidized and leached, and these showed relatively more subdued metalassay values.
Following the results of the concluded field program, anext step ground IP-Resistivity survey will be carried out to fullycover the three (3) geochemical soil anomaly zones. The aim is todefine sub-surface targets for subsequent probing by drilling. Allthese follow-up activities are expected to be carried out in the nextfield season.
The Switchback property is located 55 kilometreseast-southeast of Terrace, B.C., in the Stikine terrane. The rocks onthe property are of the Hazelton Group volcanic and sedimentary rocks.To date, only limited reconnaissance programs have been conducted onthe property, which include a small, anomalous for copper and silver,soil grid over the northern portion of the Switchback showing. Theearlier-completed outcrop sampling includes samples that returned626.3 grams per tonne Ag and 4.39 per cent Cu, located roughly in thecentre portion of the claims (and the showing), and 138 g/t Ag and4.02 per cent Cu in an outcrop approximately 100 m to thenorth.
About Norseman Silver
Norseman Silver is focused on acquiring, exploring anddeveloping silver assets with upside potential in the Americas. TheCompany’s current property portfolio includes the Cariboo, SilverVista, Silver Switchback and New Moon projects, located in a prolificregion in central British Columbia, Canada, and the Taquetren silverproject, located in Rio Negro, Argentina, host to one of the largestsilver deposits in the world. Headquartered in Vancouver, Canada,Norseman Silver’s shares are listed on the TSX Venture Exchangeunder the symbol NOC and on the OTCQB under the symbol NOCSF. Learnmore about Norseman Silver at www.norsemansilver.com .
Qualified Person
The technical information in this news release wasreviewed by Rene Victorino, P. Geo., Vice President for Exploration ofNorseman Silver Inc., a qualified person as defined under NationalInstrument 43-101 (NI 43-101).
This press release does not constitute an offer to sellor a solicitation of an offer to buy any of the securities in theUnited States. The securities have not been and will not be registeredunder the United States Securities Act of 1933, as amended, or anystate securities laws and may not be offered or sold within the UnitedStates or to or for the account or benefit of a U.S. person (asdefined in Regulation S under the United States Securities Act) unlessregistered under the U.S. Securities Act and applicable statesecurities laws or an exemption from such registration isavailable.
On behalf of Norseman Silver Inc.
Sean Hurd
President and CEO
For further information, pleasecontact:
Sean Hurd
President and CEO
T: 604 505-4554
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
CAUTIONARYSTATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain"forward-looking statements" which are not comprised ofhistorical facts. Forward looking statements include estimates andstatements that describe the Company’s future plans, objectives orgoals, including words to the effect that the Company or managementexpects a stated condition or result to occur. Forward-lookingstatements may be identified by such terms as “believes”,“anticipates”, “expects”, “estimates”, “may”,“could”, “would”, “will”, or “plan”. Sinceforward-looking statements are based on assumptions and address futureevents and conditions, by their very nature they involve inherentrisks and uncertainties. Although these statements are based oninformation currently available to the Company, the Company providesno assurance that actual results will meet management’sexpectations. Risks, uncertainties and other factors involved withforward-looking information could cause actual events, results,performance, prospects and opportunities to differ materially fromthose expressed or implied by such forward-looking information.Forward looking information in this news release includes, but is notlimited to: the Company’s objectives, goals or future plans;exploration and drilling activities; final approval of the Offering;and the use of the proceeds from the Offering. Factors that couldcause actual results to differ materially from such forward-lookinginformation include, but are not limited to: delays in obtaining orfailures to obtain required governmental, environmental or otherproject approvals; political risks; inability to fulfill the duty toaccommodate indigenous peoples; uncertainties relating to theavailability and costs of financing needed in the future; changes inequity markets; inflation; changes in exchange rates; fluctuations incommodity prices; delays in the development of projects; capital andoperating costs varying significantly from estimates; other risksinvolved in the mineral exploration and development industry; aninability to predict and counteract the effects of COVID-19 on thebusiness of the Company and markets generally; and those risks set outin the Company’s public documents filed on SEDAR. Although theCompany believes that the assumptions and factors used in preparingthe forward-looking information in this news release are reasonable,undue reliance should not be placed on such information, which onlyapplies as of the date of this news release, and no assurance can begiven that such events will occur in the disclosed time frames or atall. The Company disclaims any intention or obligation to update orrevise any forward-looking information, whether as a result of newinformation, future events or otherwise, other than as required bylaw.
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