The project hosts low-sulphidation epithermal-style gold-silver in quartz stockworks, veins and hydrothermal breccias controlled by the regional north-northwest trend. Mineralization is hosted by intermediate volcanics, and pre-mineral, dacite-rhyodacite dykes emplaced along fractures aligned to the regional trend. The structures are laterally extensive and often conspicuous due to the erosion-resistant nature of the coincident dykes. Work to date has identified anomalous gold and silver mineralization over many kilometres. Historical underground workings indicate that mineralized zones within dilationary jogs or bends along the target structures can achieve true widths of up to 20m.
Silver Viper’s property originally comprised 35,598 hectares in six mineral concessions collectively referred to as La Virginia Gold-Silver Project. The claims were acquired in two phases from June 2018, the first being a 2102 hectare group of three claims known as Rubi-Esperanza, currently being acquired under option. The second group was acquired in December 2018 and is a large group of three concessions now owned 100% by Silver Viper. The Company has completed a project-wide reconnaissance campaign and has filed paperwork which will to reduce the area of the large claims, significantly reducing the claim maintenance costs, allowing the company to focus on exploration of the recognized mineralized trend.
The project is remote and a field camp is in place on the property. Exploration work began with a regional targeting and reconnaissance survey and progressed to drill testing in September 2018. Recent exploration work has included two phases of diamond drill testing. Phase I drilling, designed as a first pass test along known mineralized trends and potential parallel structures, was completed in December 2018 and totaled 20 holes for 4,753 metres. Phase II focused on target areas north of the historical exploration areas, notably the El Rubi discovery area and added 20 more holes for 6,955metres. Total meterage completed by Silver Viper at La Virginia now totals 11,708 metres in 40 hole between December 2018 and March 2020. Work on the property continues to refine targets and Silver Viper expects to recommence drilling once authorities give the all clear to return to the field.