NOC:CC - Update on Gold Ridge Zone at the Taquetren Project Rio Negro Argentina
(TheNewswire)
Vancouver, British Columbia – TheNewswire - January 23 ,2023 . Norseman Silver Inc. (TSXV:NOC) ( OTC:NOCSF) (“ Norseman ” or the“ Company ”) is pleased to provide an update on theCompany’s exploration plans for 2023 and its ongoing explorationactivities on the Taquetren Project where one of the current focus isthe Cresta de Oro Zone “Gold Ridge”. Norseman Silver has an option to acquire a 100% interest in theTaquetren Project, located in Rio Negro, Argentina.
The latest rock sampling results from the Gold Ridge zone hasdiscovered a new mineralized vein structure. This NE-trending zonewhich was encountered about 1 km NE of Irma is parallel to and verysimilar to the Irma structures. A sample from a poorly exposed 20cm-wide sub-crop of the vein returned 12.2 g/t gold. The limited veinexposure is largely covered by thin overburden.
Based on the grid soil geochemistry results received so far, a strongNE-SW gold anomaly in soil conforms closely to the rock sample anomalyat the Irma area that was generated during the prospecting stage. Todate, field work has identified the Gold Ridge zone, a 2-km long NE-SWstrike and about 0.50 km wide area, the SW portion of which is theIrma area. This zone is within the 5 km long NW-SE corridor that hoststhe Marth a, Veta Nueva, Mirasol , Irma and Veta Juan targets on “CerrosMinerales”, a series of gently sloping hills approximately 150metres higher in elevation above the pampa. The targets are locatedalong the rim of a large mineralized volcanic caldera complex.
The latest results of rock sampling from the "CerrosMinerales" corridor have also discovered a new zone called ZonaCentro which consists of a series of mineralized NE-SW trending quartzveinlets. This zone is located approximately 2.5 km NW of Irma and isparallel and also very similar to the characteristics of the Irmastructures.
Multi-element soil grid geochemistry as well as detailed geologicmapping and rock sampling within an area of about 3,000 hectares areexpected to be completed by late January or early February. This mapping and sampling program will be followed by groundmagnetics and IP-Resistivity surveys in Q1 2023 to better definesub-surface targets for eventual drill testing.
Previously announced results from exploration conducted in 2021 and2022 have returned promising results. Seven (7) rock chip samplescollected at Veta Juan zone averaged 7.7% copper over a strike lengthof 300 metres in a narrow vein structure(s)approximately 0.25m in width in a largely overburden-covered area. Nueva and Mirasol target areas are located 5 km northwest ofVeta Juan. Veta Nueva returned average of 4.11% copper in 2 samples(2.7 meters @ 4.8% Cu, 0.5 g/t Au and 78.7 g/t Ag). At the Irmatarget, the maximum gold value of 11. 5 gram pertonne was picked up across 0.4 metres. Our exploration teams havefound no evidence of previous base or precious metal exploration inthe area giving Norseman a clear first mover advantage.
The Taquetren project encompasses an area of close to 59,000 has. ( 145,792 acres) and is located in the Navidad-Calcatreau Mining District, in SWRio Negro Province, and approximately 30 km north of Chubut Province.Accessed by high quality and well maintained paved and gravel roads.This under-explored district hosts several deposits, includingNavidad, one of the largest silver deposits inthe world (M&I: 632M Oz Ag contained in 155.2 Mt @ 127 g/t Ag,0.85% Pb, 0.05% Cu, 150 g/t Ag Eq).
Quality Assurance and QualityControl
As part of the QA/QC process, blanks and duplicatesamples are inserted into the sample chain at the base camp and samplestorage site located in the city of Ing. Jacobacci, Rio Negroprovince. From the base camp, all samples are transported securely byland through the company’s truck and submitted by the company’sstaff to the Alex Stewart International Argentina S.A. laboratory inthe city of Mendoza, Argentina. Samples are dried, weighed, crushed to70% passing -2mm, split to 250g pulps then crushed to 85% passingminus 75 microns. Samples are dissolved with four-acid digestion andanalyzed by ICP-MS, with gold by Fire Assay (AA Finish). Laboratoryinternal QA/QC samples (blanks, duplicates and certified standards)are also inserted in the sample stream during the laboratoryanalytical process.
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).
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 projects, located in a prolific region incentral British Columbia, Canada, and the Taquetren silver project,located in Rio Negro, Argentina. Norseman Silver’s shares are listedon the TSX Venture Exchange under the symbol NOC and on the OTCQBunder the symbol NOCSF. Learn more about Norseman Silver at www.norsemansilver.com .
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.
Onbehalf of Norseman Silver Inc.
Sean Hurd
President and CEO
Forfurther information, please contact:
Sean Hurd
President and CEO
604-505-4554
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