Reyna Silver And Reyna Gold Start Drilling at The Gryphon Summit Project
Rhea-AI Summary
Reyna Silver (TSXV:RSLV) and Reyna Gold (TSXV:REYG) have commenced drilling at the Gryphon Summit Project in Nevada, USA. The program targets the first-ever Carbonate Replacement Deposit (CRD) prospects within the recently consolidated 12,058-hectare Gold, Silver, and Critical Metals project. The companies are executing a 3,000-metre drilling program, focusing on three main target areas:
1. Union: Newly acquired patented claims allowing exploration of deeper sulfides.
2. 007 Zone: Reinterpretation of structures with 20-25 g/t Gold potential.
3. Sadler: Area with high-grade Copper (1% to 11.6%) and Silver (120 to 1322 g/t) in breccias and veins.
The project aims to identify oxidation levels, potentially mineralized structures, and fundamental ore-system exploration vectors. Reyna Silver and Reyna Gold are earning a 70% interest in the project from Golden Gryphon USA Inc.
Positive
- Commencement of 3,000-metre drilling program at Gryphon Summit Project
- Exploration of first-ever Carbonate Replacement Deposit (CRD) targets
- Recent consolidation of 12,058-hectare project area for Gold, Silver, and Critical Metals
- Acquisition of patented claims allowing exploration of deeper sulfides at Union target
- High-grade potential: 20-25 g/t Gold at 007 Zone, up to 11.6% Copper and 1322 g/t Silver at Sadler target
Negative
- Drilling program subject to weather conditions
- Companies still in the process of earning 70% interest in the project, not full ownership
News Market Reaction
On the day this news was published, REYGF declined 23.41%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
VANCOUVER, BC AND HONG KONG, CHINA / ACCESSWIRE / September 5, 2024 / Reyna Silver Corp. (TSXV:RSLV)(OTCQX:RSNVF)(FRA:4ZC) ("Reyna Silver") and Reyna Gold (TSXV:REYG)(OTCQB:REYGF) ("Reyna Gold") are pleased to announce the drill is turning on the first ever Carbonate Replacement Deposit ("CRD") targets at the Gryphon Summit Project ("Gryphon"), the start of a 3,000 metre program, weather permitting, in Nevada, USA. Reyna Silver and Reyna Gold are earning into a
"It's awesome to have the drill turning at the first ever CRD target at Gryphon!" said Jorge Carrillo, Senior Project Geologist for Reyna Silver. "It's amazing to mature into a position of responsibility on a project of this magnitude alongside this exploration team's depth of experience in CRDs and major discoveries in district-scale plays. Seeing my mentors equally excited… we all can't wait to see what Gryphon has to offer!"
Click to listen to Project Geologist, Jorge Carrillo, on site at Gryphon.
The Main 2024 Program Target Areas (Figure 1):
Union: Reyna's recent acquisition of these patented claims makes drilling this CRD target possible for the first time. Historically, Silver, Lead, Zinc mineralization was mined to the base of oxidation, leaving the deeper sulfides untouched, and now the drill rig is turning in that direction (See Press Release August 6, 2024).
007 Zone: Reyna Silver's technical team's reinterpretation of the structures bearing 20 to 25 g/t Gold generated a new target building upon previous explorers' most successful hole GG22-007, which cut 2.9 metres of 5.5 g/t Au (See Press Release from November 29, 2023).
Sadler: These patented claims and surrounding area contain numerous breccias and veins carrying high-grade Copper (
1% to11.6% Cu) and Silver (120 to 1322 g/t Ag). (See Press Release from November 29, 2023).
The technical team continues to work on refining and defining the numerous other targets within Gryphon.
Figure 1: Map of the 12,058-hectare Gryphon Project in Nevada, USA with claim boundaries delineated in dark grey. Patented claims blocks are delineated in red. Target Areas are highlighted in hot pink. Anomalous rock samples are shown in graduated sizes representing grade and colors differentiating the metals with yellow for Gold, burgundy for Copper, blue for Silver, green for Zinc and grey for Lead
For Further Information, Please Contact:
Michael Wood, CEO
michael@reynagold.com
www.reynasilver.com
QUALIFIED PERSON
Dr. Peter Megaw, Ph.D., C.P.G., the Company's Chief Exploration Advisor and Qualified Person, reviewed the technical aspects of the exploration projects described herein and is responsible for the design and conduct of the exploration program and the verification and quality assurance of analytical results. Dr. Megaw is not independent as he and/or companies with which he is affiliated hold Net Smelter Royalties on the Guigui and Batopilas Projects that predate Reyna Silver acquiring them.
About Reyna Silver Corp.
Reyna Silver is a growth-oriented junior exploration and development company. The Company focuses on exploring for high-grade, district-scale silver deposits in Mexico and the United States. In Nevada USA, the Company has an option to acquire
About Reyna Gold Corp.
Reyna Gold is a gold exploration company focused on district-scale exploration. Reyna Gold has a portfolio of assets on the Mojave-Sonora Megashear and the Sierra Madre Gold in Mexico, and a joint option with Reyna Silver to acquire the 10,300-hectare combined Carlin-style and CRD Gryphon Summit Project in Eureka Co., Nevada, USA. Reyna Gold has an experienced management team with a proven track record of wealth creation through project discovery, advancement, and monetization.
Forward Looking Information
This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements may include, without limitation, statements relating to the Offering and the use of proceeds therefrom. The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. All forward-looking statements in this press release are made as of the date of this press release. The forward-looking statements contained herein are also subject generally to assumptions and risks and uncertainties that are described from time to time in the Company's public securities filings with the Canadian securities commissions. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
SOURCE: Reyna Gold Corp
View the original press release on accesswire.com
FAQ
What is the size of the drilling program at Gryphon Summit Project for Reyna Gold (REYGF)?
What are the main target areas for Reyna Gold's (REYGF) drilling at Gryphon Summit?
What is the total area of the Gryphon Summit Project that Reyna Gold (REYGF) is exploring?
What percentage interest is Reyna Gold (REYGF) earning in the Gryphon Summit Project?
