December 19, 2016, Vancouver, BC: Silver Grail Resources Ltd. (“Silver Grail”) (“SVG”-TSX-V) is pleased to report that the first hole of the 2016 diamond drilling program at the Clone Gold property intersected 6.43 metres grading 17.83 g/t gold from 46.33 to 52.76 metres. The Clone gold property is located 20 km southeast of Stewart in the Golden Triangle region of northwestern British Columbia.
Hole CL-16-01 was designed to test the depth potential of a trench excavated in 1995 which returned a grade of 11.65 g/t gold and 0.18% cobalt across 9.0 metres. It was inclined at an angle of 55 degrees and ended at 111.9 metres. Cobalt assays are pending.
Two lesser intersections were also reported in the hole: the first ran 3.07 g/t gold over 3.05 metres from 34.14 to 37.19 metres; the second ran 1.11 g/t gold over 33.6 metres from 78.3 to 111.9 metres (ending in mineralization). At present there is not enough information to calculate true widths of any of the intersections reported in the hole.
Gold-cobalt results from a further six holes are awaited. The last five holes of the program were spotted at the southeastern end of the bulk sampling area from which several multi-ounce gold shipments have been taken.
The Clone gold and gold-cobalt bearing shear zones were first discovered in 1995. Since that date almost $6 million has been spent exploring a series of occurrences lying along a 2km package of volcanic and sedimentary rocks. The so-called Main Zone, situated in the southeast portion of this system, has produced elevated gold grades both in trenches and in diamond drill core.
Present ownership of the property is Makena Resources 50%, Silver Grail Resources Ltd. 25% and Teuton Resources 25%.
Quality control procedures in place include the field insertion of blanks and standards into the sample stream. Analytical work was done by Pioneer Laboratories of Richmond, BC., an accredited facility. Gold was analyzed by 30 gram fire assay with AA finish. The Qualified Person for this news release is Dino Cremonese, P.Eng., who as President of Silver Grail is not independent of the Company.
Respectfully:
“Dino Cremonese, P.Eng.”
President, Silver Grail Resources Ltd.
For more information contact 778-430-5680. If you would like to be added to Silver Grail’s news distribution list, please send your email address to dino@teuton.com
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. Corp. does have an ongoing obligation to disclose material information, as it becomes available.
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