Maverick Gold and Silver Corp.,announces that final preparations for its fully funded drill program at the Silver Vista copper-silver property are underway. The Silver Vista copper-silver property is located 55 kilometres northeast of Smithers, B.C., and is comprised of 12 mineral claims that cover 5,134.5 hectares, or 51.35 square kilometres.
Representatives of the Company recently met with the geological and drilling contractors, who have confirmed their availability, to confirm the timing of the drill program.
Ahead of the drill program starting, the Company is completing a comprehensive study of the drill core from 2018 and 2021. The objective of this study will be to improve data quality and create a consistency between historic drill holes from the two drill programs that were run by different previous operators of the project.
The platform being used integrates visible, UV, VNIR and SWIR imaging sensors, to produce continuous hyperspectral datasets that allow for semi-quantitative mineral identification, alteration mapping, and detailed geological characterization across entire core boxes. The system outputs calibrated spectral imagery, mineral classification maps, and linked photographic records, which will give the Company a unified dataset for the interpretation of lithology, alteration zonation, veining, and structural features with far greater consistency than manual logging.
The newly collected digital data will be incorporated into a three-dimensional database that will include all the drilling completed on the project to date. This includes drilling from 1991, 1992, 2018 as well as 2021, which totals 4,064 metres in 30 drill holes.
“We are excited about the potential of the Silver Vista property as sedimentary hosted copper-silver deposits make up approximately 23 % of the known global copper resources”
“The exploration target at our Silver Vista property is a sedimentary silver-copper deposit similar to Hecla Mining’s Libby and Rock Creek deposits that are located in Montana.”
stated Glen Watson, President of Maverick Gold and Silver.
This new model will allow the Company to prioritize sites for the upcoming drill program.
Table 1: Highlight drill intersections from the Silver Vista property include:
| Hole # | Easting | Northing | FROM | TO | Width | Ag | Cu | Ag Eq. | Cu Eq. |
| (m) | (m) | (m) | g/t | % | g/t | % | |||
| SV21-07 | 647472.29 | 6118264.92 | (m) | (m) | 46.00 | 48.0 | 0.62 | 102.8 | 0.97 |
| MR 91-3 | 647573.03 | 6118239.66 | 3.99 | 65.90 | 61.91 | 40.5 | 0.11 | 41.5 | 0.44 |
| MR 92-02 | 647666.55 | 6118134.23 | 176.78 | 213.36 | 36.58 | 26.8 | 0.49 | 64.0 | 0.67 |
| including | 192.62 | 195.46 | 2.84 | 195.7 | 3.65 | 473.3 | 4.98 | ||
| SV21-01 | 647500.19 | 6118310.18 | 151.86 | 199.68 | 47.82 | 37.0 | 0.21 | 47.5 | 0.50 |
| SV21-02 | 647552.44 | 6118349.75 | 171.94 | 202.00 | 30.06 | 30.0 | 0.34 | 53.4 | 0.56 |
| MR 91-5 | 647487.58 | 6118181.84 | 24.38 | 38.71 | 14.33 | 114.0 | 0.15 | 102.9 | 1.08 |
| MR 91-1 | 647611.15 | 6118280.04 | 34.19 | 67.06 | 32.87 | 34.8 | 0.19 | 44.0 | 0.46 |
| MR 91-5 | 647487.58 | 6118181.84 | 24.38 | 38.71 | 14.33 | 114.0 | 0.15 | 102.9 | 1.08 |
Silver equivalent (Ag Eq.) and copper equivalent (Cu Eq.) values are provided for comparative purposes only and were calculated using the 3 year average for metal prices (US$30.69 per ounce silver and US$4.32 per pound copper), recoveries of 88% for Ag and 92% for Cu (based on recoveries from the comparable deposits of Rock Creek and Libby [https://www.hecla.com/exploration]), with no adjustment for refining costs, smelting costs, payability, penalties, or other modifying factors. [CuEq (%) = ((Cu% x 22 x 4.32 x 0.92) +( Ag g/t / 34.286 x 30.69 x 0.88)) / 4.32 / 2200 and AgEq (g/t) = ((Cu% x 22 x 4.32 x 0.92) +( Ag g/t / 34.286 x 30.69 x 0.88)) / 30.69 x 34.286]. The Company cautions that metal equivalents are not intended to imply that the metals are recoverable in the stated proportions or that the reported equivalent values have economic significance.
The historical drill results referenced above were generated by previous operators of the Silver Vista property, which are available in BC Assessment Report 39889 titled “Report on the Diamond Drilling and Geochemistry on the Silver Vista Property” for Norseman Silver dated March 4, 2022, and BC Assessment Report 38072 titled “Diamond Drilling and Geochemistry (soil and rock) Report on the Silver Vista Property” for Amarc Resources dated March 15, 2019, and have not been independently verified by the Company. The Company believes the historical results are relevant as an indication of the exploration potential of the property; however, a qualified person for the Company has not completed sufficient work to verify the historical data, sampling procedures, analytical methods, quality assurance and quality control protocols, or chain of custody. The Company intends to use the historical information, together with newly collected data and future exploration work, to guide the design of its planned drill program.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Jeremy Hanson, P.Geo., an independent Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
About Maverick Gold and Silver Corp.
Maverick Gold and Silver Corp. (CSE: MAV) (FSE: VR61) (OTC Pink: VRCFF) is an exploration-stage company advancing a portfolio of high-potential gold, silver, and copper properties. The Company is focused on Nevada and British Columbia; mining-friendly jurisdictions that have established infrastructure, predictable permitting, and supportive regulatory frameworks.
Additional information about Maverick Gold and Silver is available on the Company’s website at www.maverickgoldsilver.com.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.
On Behalf of the Board of Maverick Gold and Silver Corp.
“Glen R. Watson”
Glen R. Watson
President & CEO
For further information, please contact:
Glen Watson, President & CEO
Phone: +1 (604) 803-5229
E-mail: info@maverickgoldsilver.com
Cautionary Note Regarding Forward-Looking Information
This news release may contain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable Canadian securities laws. Forward-looking information in this news release may include, but is not limited to, the Company’s exploration and development plans, future exploration programs, business objectives, strategic plans, and expectations regarding the Company’s operations, financial condition, and growth opportunities.
Forward-looking information is provided to inform the Company’s shareholders and potential investors about the Company’s current expectations and plans relating to the future and may not be appropriate for other purposes. Forward-looking information is often identified by words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “propose”, “potential”, “may”, “will”, “would”, “could”, “should”, and similar expressions, although not all forward-looking information contains these identifying words.
Forward-looking information is based on a number of assumptions that the Company believes to be reasonable at the time such statements are made, including, but not limited to, assumptions regarding the Company’s ability to successfully execute its exploration and development plans, and operate in a stable regulatory, economic, and business-friendly environment. These assumptions, while considered reasonable, may prove to be incorrect.
Forward-looking information is subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements of the Company to differ materially from those expressed or implied by such forward-looking information. Such risks and uncertainties include, without limitation risks inherent in mineral exploration and development, operational and technical risks, fluctuations in commodity prices, availability of financing, general economic, market, and business conditions, regulatory and environmental risks, and other risks disclosed in the Company’s public filings.
Although the Company believes that the forward-looking information that may be contained in this news release is reasonable based on information currently available, readers are cautioned not to place undue reliance on such information, as there can be no assurance that such expectations will prove to be correct. Forward-looking information that may be contained in this news release is only relevant as of the date of this release. Except as required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise.
