Sierra Madre Drilling Intersects 5.95 Meters of 7.11 g/t Gold and 10.7 Meters of 4.26 g/t Gold at La Tigra Project, Nayarit

13 July 2023
377

Sierra Madre Gold and Silver Ltd.

TSXV:SM

Sierra Madre Gold and Silver Ltd. announce the results of four additional drill holes from the Phase I drill program at its La Tigra Gold/Silver Project in the State of Nayarit, Mexico.

Drill hole

From (m)

To (m)

Intercept (m)

Gold g/t

Silver g/t

AuEq g/t

LTDH004

45.50

51.50

6.0

0.37

3.0

0.40

and

328.10

328.90

0.8

1.29

2.4

1.32

and

328.10

331.70

3.6

0.45

4.0

0.50

LTDH005

12.00

32.00

20.0

2.49

9.0

2.60

Includes

15.80

26.50

10.7

4.26

14.0

4.45

LTDH006

55.50

61.45

5.95

7.11

10.55

7.25

Includes

59.05

60.65

1.6

24.35

10.20

24.49

LTDH006

66.85

67.80

0.95

4.16

9.0

4.28

LTDH007

24.35

25.50

1.15

1.63

12.0

1.79

  1. Length-weighted averages from uncut assays
  2. Intervals reported are hole lengths with true width estimated to be 90% or greater
  3. *Gold silver ratio used to calculate AuEq is 75 g/t Ag to 1 g/t Au
  4. 0.4 g/t AuEq external cut off

Gregory K. Liller, Executive Chairman and Chief Operating Officer commented “The drilling program at La Tigra continues to deliver strong results with some intercepts being wider than initially expected. These results continue to expand on the positive results to date at La Tigra.”

The Phase I drilling program at La Tigra was designed using the data acquired from extensive surface mapping, sampling and trenching programs. This work has defined a 3.5 km long structural corridor with stacked northwest striking structures. Results for the first three holes from this Phase 1 program were released on May 24, 2022.

The structures at La Tigra dip at 40⁰ to 45⁰ and holes 1 and 2 were drilled at -45⁰ and hole 3, -53⁰. As such the true width of the intersections are approximately +90% of the intersected length.

The following map shows the locations of the holes.

About Sierra Madre

Sierra Madre Gold & Silver (TSX.V:SM) is a precious metals development and exploration company, focused on evaluating the potential of restarting the La Guitarra Mine in the Temascaltepec mining district, Mexico, and the exploration and development of its Tepic and La Tigra properties in Nayarit, Mexico. The La Guitarra Mine is a permitted, past-producing underground mine which includes a 550 t/d processing facility that operated until mid-2018.

The +2,600 ha Tepic Project hosts low-sulphidation epithermal gold and silver mineralization with an existing historic resource. La Tigra, located 148 km north of Tepic, has been mined historically; Sierra Madre´s maiden 2022 drill program at the site intercepted shallow mineralization.

Sierra Madre´s management has played key roles for managing exploration and development of more than 22Moz gold and 600Moz silver in combined reserves and resources. Sierra Madre´s team of professionals has collectively raised over $1B for mining companies.

On behalf of the board of directors of Sierra Madre Gold and Silver Ltd.,

Alexander Langer

Alexander Langer
President, Chief Executive Officer and Director

Contact:
[email protected]

Sierra Madre Gold and Silver Best Practice

Sierra Madre is committed to best practice standards for all exploration and sampling activities. The Company´s exploration programs have been conducted following CIM Exploration Best Practice Guidelines which are incorporated by reference in NI 43-101. Analytical quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the sample strings. Samples are placed in sealed bags and shipped directly to Bureau Veritas Lab located in Durango, Mexico or ALS Chemex in Guadalajara, Mexico for 30 gram gold fire assay, Aqua Regia digestion for silver and multi-element analyses by four acid digestion.

Qualified Person

Mr. Gregory Smith, P. Geo, Director of Sierra Madre, is a Qualified Person as defined by NI 43-101, and has reviewed and approved the technical data and information contained in this news release. Mr. Smith has verified the technical and scientific data disclosed herein.

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James Hyland, MiningIR
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