TORONTO, Jan. 12, 2022 (GLOBE NEWSWIRE) -- Stroud Resources Ltd. (TSXV:SDR) (“Stroud” or the “Company”) is pleased to report on results from 9 of 21 holes completed at its Santo Domingo Silver Property (“Santo Domingo” or the “Property”), located in Hostotipaquillo, State of Jalisco, Mexico. Several drill holes intersected silver grades exceeding 100 g/t Ag including drill hole SD-21-81 which returned 1.0 metres grading 1,187 g/t silver equivalent (“AgEq”) within an intersection of 9.95 metres grading 371.60 g/t AgEq (Table 1).
In its 2021 exploration drilling program, the Company completed 7,703 metres in 21 diamond drill holes with results of core assays to date summarized in Table 1. Parameters for the 21 drill holes completed in 2021 are available on the Company website.
Highlights
- Discovery of a third mineralized trend located about 400 metres west of the Guadalupe Vein System. The “New Vein System” appears to run N-S and is about 500 metres east of the historical Santa Fe adits (Figure 1). Initial results from the New Vein System suggest it is about 10 metres wide with grades exceeding 300 g/t AgEq at the top end of the vein.
- The New Vein System was intersected by hole SD-21-81 at the top end and continues for over 80 metres to hole SD-21-58, the last hole drilled in 2021. Mineralization in Hole SD-21-58 is visible over 25 metres and the Company is eagerly awaiting the assay results from this hole.
- Hole SD-21-81: returned 372 g/t AgEq over 9.95 m, including 1,187 g/t AgEq over 1.0 metre.
- Hole SD-21-71: drilled into the La Raya Vein System, returned strong mineralization over 20.0 m with two intercepts of 618 g/t AgEq over 1.05 metres and 575 g/t AgEq over 1.10 metres.
- Several intercepts, at the south extension of La Raya Vein System, of high-grade base metals accompanied high-grade silver including hole SD-21-50 which returned 1.40 m grading 336 g/t Ag, 6.57% Zn and 2.01% Pb. Fe-poor sphalerite and galena occur within the quartz veining.
The 2021 drilling program was designed to explore the extent of known vein system-hosted silver mineralization on the Property and identify additional silver mineralized zones and vein systems which appear to strike parallel to the existing La Raya and Guadalupe silver vein systems (Figure 1).
Table 1. Summary of results from drill core assays received to date.
| Drill Hole | From (m) | To (m) | Length (m)1 | Au (g/t) | Ag (g/t) | Zn (%) | Pb (%) | Cu (%) | AgEq2 |
| SD-21-46 | 148.15 | 149.30 | 1.15 | 0.43 | 53.10 | 0.073 | 0.035 | 0.006 | 85.35 |
| and | 160.80 | 162.70 | 1.90 | 0.73 | 101.79 | 0.036 | 0.014 | 0.003 | 156.42 |
| and | 236.30 | 236.70 | 0.40 | 2.17 | 243.00 | 0.070 | 0.053 | 0.007 | 405.75 |
| SD-21-50 | 10.65 | 21.00 | 10.35 | 1.22 | 138.48 | 2.319 | 0.718 | 0.051 | 229.88 |
| Incl. | 12.00 | 13.40 | 1.40 | 3.91 | 209.00 | 4.920 | 1.715 | 0.124 | 502.25 |
| incl. | 13.40 | 14.80 | 1.40 | 0.97 | 336.00 | 6.570 | 2.010 | 0.076 | 408.75 |
| SD-21-69 | 97.30 | 98.30 | 1.00 | 0.16 | 37.50 | 0.038 | 0.114 | 0.003 | 49.50 |
| and | 99.40 | 101.60 | 2.20 | 0.12 | 36.30 | 0.102 | 0.039 | 0.004 | 45.30 |
| and | 109.55 | 110.70 | 1.15 | 0.21 | 111.00 | 0.164 | 0.164 | 0.006 | 126.75 |
| and | 128.55 | 129.70 | 1.15 | 0.18 | 39.70 | 0.066 | 0.035 | 0.002 | 53.20 |
| SD-21-69 | 148.10 | 161.35 | 13.25 | 1.05 | 80.86 | 0.010 | 0.006 | 0.002 | 159.98 |
| incl. | 152.90 | 158.90 | 6.00 | 1.45 | 122.18 | 0.013 | 0.009 | 0.003 | 230.78 |
| incl. | 152.90 | 154.10 | 1.20 | 2.76 | 171.00 | 0.014 | 0.008 | 0.005 | 378.00 |
| SD-21-69 | 165.25 | 166.45 | 1.20 | 0.07 | 51.00 | 0.111 | 0.069 | 0.006 | 56.25 |
| and | 170.15 | 172.65 | 2.50 | 0.08 | 127.05 | 0.086 | 0.058 | 0.002 | 133.05 |
| SD-21-71 | 16.80 | 41.00 | 24.20 | 0.31 | 201.14 | 0.278 | 0.336 | 0.018 | 224.10 |
| incl. | 19.00 | 37.30 | 18.30 | 0.34 | 248.57 | 0.340 | 0.431 | 0.021 | 273.81 |
| incl. | 21.40 | 22.45 | 1.05 | 0.48 | 582.00 | 0.641 | 1.080 | 0.066 | 618.00 |
| incl. | 26.70 | 27.80 | 1.10 | 0.25 | 557.00 | 0.572 | 1.250 | 0.024 | 575.75 |
| incl. | 31.20 | 34.60 | 3.40 | 0.20 | 206.00 | 0.226 | 0.172 | 0.009 | 221.00 |
| SD-21-71 | 108.50 | 120.65 | 12.15 | 0.30 | 60.58 | 0.050 | 0.034 | 0.004 | 83.09 |
| incl. | 109.60 | 110.70 | 1.10 | 1.16 | 140.00 | 0.042 | 0.043 | 0.006 | 227.00 |
| incl. | 119.50 | 120.65 | 1.15 | 0.34 | 101.00 | 0.117 | 0.125 | 0.005 | 126.50 |
| SD-21-75 | 65.10 | 68.55 | 3.45 | 1.31 | 71.07 | 0.889 | 1.745 | 0.087 | 169.07 |
| incl. | 65.10 | 66.25 | 1.15 | 0.54 | 103.00 | 1.505 | 1.685 | 0.099 | 143.50 |
| SD-21-75 | 69.70 | 72.00 | 2.30 | 0.28 | 44.15 | 1.209 | 1.452 | 0.042 | 64.78 |
| SD-21-75 | 75.15 | 77.55 | 2.40 | 1.81 | 48.13 | 1.069 | 0.135 | 0.016 | 183.78 |
| SD-21-75 | 80.25 | 99.80 | 19.55 | 1.31 | 76.50 | 2.363 | 0.441 | 0.034 | 174.53 |
| incl. | 81.65 | 82.65 | 1.00 | 2.17 | 114.00 | 2.970 | 0.495 | 0.014 | 276.75 |
| incl. | 86.80 | 87.85 | 1.05 | 1.03 | 120.00 | 2.970 | 0.171 | 0.007 | 197.25 |
| incl. | 91.45 | 93.55 | 2.10 | 0.55 | 111.50 | 0.108 | 0.056 | 0.007 | 152.38 |
| incl. | 95.75 | 97.10 | 1.35 | 0.85 | 169.00 | 4.750 | 2.830 | 0.230 | 232.75 |
| SD-21-80 | 264.00 | 264.35 | 0.35 | 0.51 | 24.80 | 1.820 | 6.920 | 0.236 | 63.05 |
| SD-21-81 | 175.15 | 185.10 | 9.95 | 1.51 | 258.42 | 0.023 | 0.015 | 0.008 | 371.60 |
| incl. | 176.05 | 181.10 | 5.05 | 2.05 | 391.53 | 0.028 | 0.022 | 0.012 | 545.14 |
| incl. | 176.05 | 177.05 | 1.00 | 4.71 | 834.00 | 0.040 | 0.025 | 0.015 | 1,187.25 |
| incl. | 184.20 | 185.10 | 0.90 | 3.17 | 319.00 | 0.004 | 0.004 | 0.002 | 556.75 |
| SD-21-81 | 198.70 | 201.60 | 2.90 | 0.48 | 148.14 | 0.048 | 0.023 | 0.006 | 184.26 |
| incl. | 200.80 | 201.60 | 0.80 | 0.63 | 198.00 | 0.027 | 0.031 | 0.008 | 245.25 |
| SD-21-81 | 295.85 | 297.95 | 2.10 | 0.19 | 38.40 | 1.287 | 2.088 | 0.062 | 52.65 |
| SD-21-82 | 247.80 | 248.95 | 1.15 | 0.54 | 37.90 | 0.036 | 0.018 | 0.003 | 78.40 |
| SD-21-84 | 330.70 | 332.25 | 1.55 | 0.14 | 50.80 | 0.071 | 0.028 | 0.015 | 61.30 |
1Drill core lengths are not true widths and are reported as core intervals.
2AgEq calculated using a silver to gold ratio of 75:1 and assuming recoveries of 100%.
The Company’s current Drilling Permit covers 13 drill pads (drill setups) located across the Property and from which 50 diamond drill holes were planned (see news release dated February 18, 2021). A second drilling permit will be submitted seeking additional drill pad locations to facilitate further delineation of the three mineralized vein systems. In addition to the 21 drill holes completed in the 2021 program, another five holes were abandoned due to poor ground conditions or after encountering historical mine workings (Figure 1).
The Company is currently updating its planned drilling program for 2022 and will refine the program as the balance of assay results are received. Remaining assays from the 2021 drilling program will be reported as they continue to be released from the laboratory. Drilling is expected to start before the end of January 2022, with at least 3,500 metres planned to be completed by the end of Q1 2022.
Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6d3d5d7f-24bd-4a04-8fad-c9271151967c
Dr. Scott Jobin-Bevans (P.Geo.), President and a Director of Stroud, is the Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this news release.
About Stroud Resources Ltd.
Stroud Resources is a TSXV listed company (TSXV:SDR) focused on the exploration and development of its Santo Domingo epithermal silver project in central Mexico.
For more information, please visit www.stroudsilver.com or contact Mirsad Jakubovic, Chief Financial Officer, Stroud Resources Ltd., Tel: 1-416-888-8731, mirsad@cpamba.ca.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements”.
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to the interpretation of the drill results, geology, grade and continuity of mineral deposits.
Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company’s expectations or projections.
