Clemente Silver Project
The 6,214 hectare Clemente Silver-Gold Project is situated in northern Sonora State, Mexico within the Mojave-Sonora Megashear, a well-documented trend of structurally controlled orogenic and intrusion related gold and silver deposits. Centrally located within the trend, Clemente sits 10 km northwest of the Cerro Colorado Gold Mine and 50km south of the El Chanate Gold Mine. The project is prospective for silver, gold and base metal as evidenced by numerous historical workings within favourable lithologies and structural settings. Clemente is serviced by excellent infrastructure including water and road access making targets across the property easily accessible.
EXPLORATION HISTORY & RESULTS
The project as it exists today was staked in 2010 by Riverside Resources Inc., Historical workings exist across the property and define three main areas of interest. Riverside conducted an initial field work program including data compilation, ASTER analysis, ground magnetics and a geochemical sampling program including many of the small historical workings.
The sampling program included 152 reconnaissance rock-chip/grab samples and returned assay values from below detection up to 2,930 g/t silver, gold values from below detection up to 5.4 g/t. High grade silver mineralization exceeding 2 kg/t (60 oz/t) was identified in two separate historical workings. Multiple samples returned values over 50 g/t silver, uncommon for this region of Mexico.
Three main mineralized zones have been identified at Clemente; El Mundo, Nuevo Mundo, and Santa Elena. All areas show evidence of previous small-scale mining activity and all have returned highly anomalous silver-gold grades, confirmed by Silver Viper check sampling. The three prospect areas will be the target of drill testing during 2017.
Host rocks to mineralization consist of Proterozoic plutonic and metamorphic basement overlain by Proterozoic and Cambrian metasediments. Previous studies have concluded that mineralization occurs mainly in the Proterozoic granite of the Bamori Metamorphic Complex (1,600 – 1,750 Ma) and in the unconformably overlying dolomitic Caborca Formation, also of Proterozoic age. Structure on the project consists of two phases of Laramide thrust faulting, and one phase each of Laramide folding and Tertiary extensional faulting. Mineralization is intimately tied to faults on the project, occurring within fault zones, and showing evidence of post-mineral faulting along many veins. Mineralization on the project consists of hematite-specularite-quartz veins and breccia, and quartz- sulfide veins. High-grade silver mineralization occurs with both types of veins and is accompanied by elevated levels of gold, copper, lead, and zinc.
The style of mineralization on Clemente is not yet well defined nor definitively classified by ore-deposit type, but displays characteristics of both orogenic gold deposits and low-sulfidation epithermal gold-silver deposits. The dominant style of mineralization is sub-millimeter to 2-cm-wide veins filled with variable amounts of red hematite, specular hematite, and quartz, the majority occurring as sub-millimeter fractures, either as individual veinlets, zones of parallel sheeted veinlets, networks of cross-cutting veinlets, and stockworks. Vein attitudes group into a northwest strike and a northeast strike with dips dominantly steep in all directions. All hematite-specularite-quartz veins are surrounded by hematite alteration, and in some places hematite-altered wall rock contains up to 30% remnant disseminated sulfide minerals. Hematite-specularite breccia is composed of 0.1-3-cm angular fragments of white quartz in a red hematite and specularite matrix, accompanied by vugs filled with euhedral and botryoidal quartz and calcite.
Quartz-sulfide veins are up to 1 meter thick, composed of milky to grayish white banded quartz with bands and clots of sulfide minerals, dominantly galena. At the Santa Elena showings this vein type includes coarse-grained dolomite in clots surrounding euhedral quartz crystals. Copper and zinc and lead oxides are observed in these veins. In almost all cases, these veins are accompanied and cut by hematite-specularite-quartz veins. In all quartz-sulfide veins observed some degree of post-vein faulting has occurred.
The dominant types of alteration recognised on the project are hematite alteration and recrystalization of dolomite. Hematite alteration consists of hematite staining surrounding hematite-specularite-quartz veins accompanied in some places by silicification and rare jasper. Recrystallization of dolomite at vein margins is widespread in the three target areas, and most prominent at the Mundo target. Minor clay alteration occurs in the Bamori granite at the Nuevo Mundo target area, and minor silicification is also present.
In September 2016 the Clemente Silver-Gold Project was optioned by Silver Viper Minerals Corp. from Riverside Resources Inc. The Option agreement will provide Silver Viper with the opportunity to earn an undivided 100% interest in the Project by paying Riverside $750,000 in cash, 2,000,000 Silver Viper common shares, and incurring $4,000,000 in exploration expenditures in staged tranches within five years. Riverside will also retain a 2% net smelter returns royalty (NSR) 100% which may be purchased by Silver Viper for $4,000,000 during the five year time period of the agreement.
QUALIFIED PERSON, QA/QC & TECHNICAL DISCLOSURES
Dale Brittliffe, P. Geo., a qualified person to Silver Viper Minerals Corp. as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the preparation of this information.