Fabled Silver Gold Corp. (“Fabled” or the “Company”) (TSXV: FCO; OTCQB: FBSGF, and FSE: 7NQ) announces the final results of Phase 1 surface diamond drilling from the upgraded 14,400 -meter drill program on the “Santa Maria” Property in Parral, Mexico.
Peter J. Hawley, CEO and President, remarks, “Planned definition hole SM20-50 was not only designed to fill in a drill poor gap in the past resource area and to follow the down dip mineralized plunge intercepted in drill hole SM20-47, 48 and 49, all of which reported broad zones of silver and gold bearing hydrothermal breccias with numerous higher-grade intercepts within, but also to vector in on the developing high-grade hydrothermal gold domain. See Figure 1 below.
Figure 1 – Longitudinal View of Area of Current Drilling Being Reported
Definition Diamond Drill Hole SM20-50 was drilled at a dip, or angle, of -75 degrees for a planned total drilled length of 294 meters. It was designed to hit the targeted zone at approximately -260 meters below surface. Before intercepting the main Santa Maria hydrothermal breccia / structure target at depth, the previously newly discovered shallow mineralized hydrothermal breccia was intersected once again from 148.00 – 153.10 meters and graded 131.49 g/t Ag Eq over the 5.10 meters.
See Photo 1, Figure 2 and Table 1 below.
Photo 1 – SM20- 50
Previously reported holes SM20-47, 48 and 49 all intercepted this new hydrothermal breccia. In this case the hanging wall of the breccia intercepted by hole SM20-50 reported 321.39 g/t Ag Eq with 0.51 g/t Au over 1.25 meters.
See photo 2, Figure 2 and Table 1 below.
This new discovery is defining previously unknown silver - gold mineralization which will be added to the data base for the internal resource model.
Photo 2 – SM20 - 50
The main target which was the the Santa Maria footwall hydrothermal breccia structure was intercepted from 267.00 – 288.90 meters. The entire 21.90 meters reported 5.29 g/t Au within 349.21 g/t Ag Eq. This gold domain hydrothermal system remains open at depth and on strike.
See Figure 2, Table 1, Photo 3, 4 below.
Figure 2 – Cross Section Diamond Drill Hole SM20-50
Within the 21.90 meters of gold – silver mineralization, 11.05 meters from 269.60 – 280.65 meters assayed an impressive 11.05 g/t Au within 664.57 g/t Ag Eq.
See Figure 2 above, Table 1 and Photos 3, 4 below.
Photo 3 – SM20 - 50
Worthy of note is the very high-grade gold intercept from 270.80 – 272.10 meters where assay results returned 86.10 g/t gold within 4,821.98 g/t Ag Eq.
Photo 4 – SM20- 50
Hole SM20-50 was extremely successful not only in infill drilling of a drill poor area, but also following the vertical down plunge of the Santa Maria structure by -160 meters from hole SM20-47 and vectoring in on earlier results from holes SM20-48 and 49.
In addition, the new up hole hydrothermal breccia that was intercepted shows that the structure has increased or opened up to 5.10 meters grading 131.49 g/t Ag Eq and contains a higher-grade component of 321.39 g/t Ag Eq with 0.51 g/t Au over 1.25 meters. This new silver – gold mineralized hydrothermal breccia not only remains open in all directions but will add new mineralized ounces to the various systems we have discovered during this first phase of drilling.
In addition to the new breccia, the strong gold bearing domain intercept of the main footwall of the Santa Maria hydrothermal breccia, where the entire 21.90 meters reported 5.29 g/t Au within 349.21 g/t Ag Eq, and the exceptional higher-grade component of 86.10 g/t gold within 4,821.98 g/t Ag Eq not only add quality gold and silver ounces to the resource build out but remain open at strike and depth.
This completes the Phase 1 exploration and definition drilling on the mineralized Santa Maria structures, breccias and diorite dikes. The Company will now compile all the results to define not only follow up definition drilling targets, but to outline targets in the eastern sector of the property. This sector includes newly discovered mineralization outcropping on surface, and also geophysical IP anomalies previously identified, all which have never been drilled.
Disclaimer: Fabled Silver is a paid marketing client*