Silver Sands announces high grade silver find in Santa Cruz
Explorations in the company´s Argentine property are currently going on.

Silver Sands Resources Corp. \[SAND-CSE; SSRSF-OTCQB\] announced on Thursday, May 21st that the company plans to start a phase 111 exploration program on its Virginia silver project in Santa Cruz Province in the Patagonia region of Argentina following the discovery of a new high grade silver zone. The high grade zone at Ely Central was discovered during a Phase 11 exploration program that was completed in the first quarter of 2021. The program consisted of 20 diamond drill holes that covered 3,104 meters, bringing the total meters completed during the field season to 5,935 meters. The company recently announced that drilling at Ely Central has identified an emerging open strike length of 200 meters with intercepts grading 9.98 meters grading 560 g / t siler including 2.87 meters grading 1,578 g / t silver. "The Phase 11 drilling confirmed our hypothesis that drilling known veins along strike will expand the current resource and define the Virginia Project as a significant silver project," the company said in a news release on May 17, 2021. "With the spectacular results at Ely Central (including hole EC-DDH-001 which intersected 10.8 meters of 625 g / t silver, including 5.7 meters of 1,110 g / t silver), we now see the potential for that the Ely Zones extend for 1.3 kilometers of strike length, "said Silver Sands CEO Keith Anderson. From the initial discovery in 2009 to four drill programs between 2010 and 2012, Mirasol Resources Ltd. \[MRZ-TSXV\] define an Initial Indicated Mineral Resource of 11.9 million ounces of silver grading 310 g / t silver and an additional Inferred Resource of 3.1 million ounces of silver grading 207 g / t silver within seven exposed bodies. Several additional vein structures within the property package remain very encouraging as Mirasol has focused the majority of its exploration efforts on the resource area. Several of these structures have silver values greater than 1,000 g / t silver and are highly likely to host additional silver resources, the company said. It said these vein structures will be the primary focus of Silver Sands exploration efforts in 2020/2021. Silver Sands will acquire a 100% interest in Virginia through the issuance of a number of shares, giving Mirasol a 19.9% interest in Silver Sands, which has committed to spending US $ 6 million on exploration over three years. Mirasol will withhold a license fee of 3.0% (Net Smelter Return) on the project. Silver Sands has an option to purchase a third of the license fee for $ 2 million. On Thursday, Silver Sands announced that it had issued 2.8 million shares in Mirasol, representing 5.0% of Silver Sands' issued and outstanding shares. Mirasol now holds 6.5 million shares of Silver Sands, representing an 11.1% stake in the company. On Thursday, Silver Sands shares were down 3.9%, or $ 0.01, to 24.5 cents when the volume was 150,000. The shares trade over a 52-week range of 49 cents and 14.5 cents.
