Canadian Silver Hunter Inc. (TSXV: AGH.H) (“Canadian Silver Hunter” or the “Company”) is pleased to provide an outlook for 2022 and review of company operations in 2021.
The Lac LaChance property, Windfall Lake, QC
The Lac Lachance property is located in the Windfall Lake area of Quebec, near the town of Lebel sur Quevillon. The Company recently acquired additional prospective lands in and around their existing northern block holdings, and now control a total of 177 mining claims covering just over 9,900 hectares. The additional land was acquired by staking.
The northern portion of the Lac Lachance claims cover electromagnetic anomalies associated with east-west trending fault zones on the northern limit of the Urban-Barry volcanic belt that hosts numerous gold deposits, including the Osisko Mining Inc., Lac Windfall Gold Deposit.
CSH will return to the Lac Lachance Property in 2022 and conduct several exploration programs on several known showings, including but not limited to; stripping of outcrop and channel sampling, geological field mapping, continuation with the building of the existing exploration model; drilling the high-value targets based on the existing data, field mapping and the 2022 season results.
Recent work by Osisko in the vicinity of the Lachance North claim group has indicated gold mineralization detected by diamond drilling associated with conductive sulphide zones. A 2018 Osisko report stated that drill hole OSK-UB-18-092 (Figure 1), “intersected 0.71 g/t Au over 1 metre. This grade is hosted in a massive sulphide zone within a strongly silicified unit of intermediate composition. Other anomalous gold values were intersected, ranging from 0.11 to 0.48 g/t Au, associated to other massive pyrrhotite-pyrite zones, often located at their contacts”. (GM70939, Quebec Assessment Files).
Osisko drill hole OSK-UB-18-092 is located within 900m of Canadian Silver Hunter’s claims, which are also located on strike, both east and west of the Osisko drill hole.
In addition, Noranda Exploration drilled three holes on the Canadian Silver Hunter’s newly acquired claims in 1992. All three holes intersected sulphide mineralization including one that intersected 0.38% zinc over 3.1 meters. The other two holes were drilled in close proximity to each other and intersected 20% pyrrhotite and trace chalcopyrite over widths of 4.2m and 5.2m respectively. (GM51713 Quebec Assessment Files).
The geological conditions that hosted gold mineralization on the Osisko property also exist on Canadian Silver Hunter’s northern claims.
The Keeley-Frontier Mine, Cobalt ON
The Keeley Frontier mine is located in the Silver Centre area of the South Lorrain township, just south of Cobalt, Ontario, and includes the prolific past producing Keeley and Frontier silver-cobalt mines. The project also includes the Veinlode Silver Mines property as well as other strategic prospective mineral claims in and around the Silver Centre Camp. The entire property is approximately 3,100 hectares in size and is located in the Larder Lake Mining Division, approximately 600 kms north of Toronto, Ontario.
CSH is planning to drill existing silver and cobalt targets to follow up on the successful drill programs of 2017/2018 and 2012 where the Company had previously intersected several rich silver intercepts.
Historically, the Keeley & Frontier mines are the most prolific past producing silver/cobalt mines in Canadian history by average grade per tonne. The two mines combined produced close to 20 million ounces of silver and 3.5 million pounds of cobalt; an average grade of 58 ounces of silver per tonne, and 3.5 pounds cobalt per tonne. (“Technical Report on Keeley Frontier Project”, G. A. Harron June 8, 2011).
The Lost Dog property, West Timmins, ON
Results from the November 2020 soil sample program identified five clusters of anomalous values on the property. Anomalous values in gold, silver, copper, lead and zinc provided excellent targets for follow up work. Of the 350 samples collected and submitted for analysis, just over one third assayed at or above the minimum detection limit for gold (0.005 ppm). The samples also returned a single sample assay result of 13g/t (ppm) silver, and another sample that returned 416 ppm copper (CSH PR, February 09, 2021).
The Company completed a maiden drill program on the Lost Dog property of just under 1000 metres in November 2021. Although gold and silver were background levels, one sample with 1.54% sulphur showed slightly anomalous values in copper and cobalt (76 and 188 ppm respectively).
Results of the maiden exploratory drill program were helpful in providing additional information on geology, structure and mineralization. The Company will return to re-examine the core and look to pull additional samples for assay, reporting on same as they become available.
The contents of this press release have been reviewed by Wayne Holmstead, P.Geo, Qualified Person as defined by National Instrument 43-101.
About Canadian Silver Hunter Inc.
Canadian Silver Hunter Inc. is a Canadian mineral exploration company focused on gold, silver and cobalt exploration in Ontario and Quebec. The Company currently owns three properties: the Keeley Frontier Silver Centre property, located near Cobalt, Ontario; the Lac Lachance property, located in the Lac Windfall area near Lebel sur Quevillon, Quebec; the Dark Horse and Whitesides property located near West Timmins, Ontario, and has an option to acquire a 100% interest in the Lost Dog property, located near Timmins, Ontario. For further details about the Company’s projects, plans and results please visit the company website at www.canadiansilverhunter.ca.
For more information please contact:
President & CEO
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Notice Regarding Forward-Looking Information
Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, and commodity prices. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward looking information. The parties undertake no obligation to update forward-looking information except as otherwise may be required by applicable securities law.