August 27, 2020–Vancouver, BC: Silver Grail Resources Ltd. (“Silver Grail”) ( (“SVG”-TSX-V) is pleased to give the following update on its exploration activities:
A 439.5 km long, airborne magnetometer survey was recently completed on Silver Grail’s wholly-owned Pacifico property located at the northern end of Vancouver Island, BC. It was flown in a low-level grid pattern at 100m spacing with an average terrain clearance of 60m. The Company is awaiting a geophysical analysis of the data.
A geochemical sampling program has been initiated which consists of further soil and silt sampling augmented by rock sample collection and routine prospecting. The first phase of this program will extend sampling beyond the anomalous cobalt values obtained in the 2019 work. Highest cobalt value obtained in 2019 was 1,152 ppm which is almost twice as high as the most anomalous stream/moss mat sample recorded in the BC Government Regional Geochemistry database compiled from surveys conducted throughout the province over the past 40 years (>64,000 samples).
Golden Triangle properties
A drill permit was received on August 25 from the government for the Company’s Midas-Konkin Silver properties (Silver Grail owns 50% of the Konkin Silver and 25% of the Midas in partnership with Teuton Resources). The Company is planning to mobilize a drill into the Midas-Konkin Silver within the next week depending upon weather conditions.
The Qualified Person for the purposes of this news release is Dino Cremonese, P.Eng., President of Silver Grail Resources Ltd.; Mr. Cremonese, as president and director of the Company, is not independent of the Company.
About Silver Grail
Silver Grail owns interests in over 12 mineral properties in the southern portion of the Golden Triangle, all located within 35 km of the town of Stewart, BC. Many of these properties contain veins or shear zones hosting significant amounts of silver mineralization. In addition, the Company also owns interests in three other properties in British Columbia containing cobalt mineralization. At this time, the most prospective of these is the Pacifico on northern Vancouver Island which has some of the most anomalous cobalt stream geochemistry in the province.
“Dino Cremonese, P.Eng.”
Dino Cremonese, P.Eng.
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This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management’s objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. Silver Grail Resources Ltd. does have an ongoing obligation to disclose material information, as it becomes available.
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