en.Wedoany.com Reported - Silver Wolf Exploration Ltd. (SWLF:TSX.V; SWLFF:OTCQB) has made progress in drilling at the La Recompensa gold-zinc contact skarn target within the Ana Maria property in Mexico, with one drill hole intersecting 2.78 meters of garnet-magnetite-hematite skarn.
As of the announcement date, the company has successfully completed five diamond drill holes totaling 1,301 meters, marking over half of the planned drilling program. Drill hole LRE26-05, at an azimuth of 310 degrees and a dip of -45 degrees, encountered magnetite- and hematite-bearing garnet at the contact between recrystallized Lower Cretaceous Aurora limestone and the El Sarnoso granodiorite intrusion. Iron oxide staining observed in this contact zone suggests the potential presence of weathered sulfides, enhancing the prospectivity for gold mineralization.
The company stated that the team has encountered multiple intercepts of magnetite- and garnet-rich contact skarn during drilling, accompanied by epidote, chlorite, and hematite. Additionally, garnet-magnetite skarn veins and veinlets were found within the granodiorite intrusion, indicating skarn mineralization and pointing to new gold-zinc skarn targets associated with the El Sarnoso intrusion.
Silver Wolf President Peter Latta noted that the contact skarn intercepted to date confirms the company's expectations that the gold-zinc target skarn extends along the boundary of the large, ring-shaped El Sarnoso intrusion. The next steps will build on the results of a January 2022 channel sampling that found 37 g/t gold and 7.6% zinc at the contact zone, aiming to encounter more gold-bearing skarn zones.
The company's flagship Ana Maria property is located in Durango, Mexico, covering 2,549 hectares across nine mining claims. Historically, the site (particularly the La Lucha area) was mined for iron and manganese until operations ceased in 1943, extracting approximately 12,000 tonnes of material, with remaining reserves of about 25,000 tonnes. These historical data are sourced from the Mexican government and U.S. Geological Survey websites as references for mineralization presence but have not been verified or validated to comply with current NI 43-101 standards.
Geologically, Ana Maria is situated within the fold-and-thrust belt of the Sierra Madre Oriental, a region known for hosting numerous carbonate replacement deposits (CRDs) in Cretaceous limestone and dolomite. On September 3, 2024, Silver Wolf launched its first drilling program at the El Soldado claim within the Ana Maria project, later expanding the program to 15 holes totaling 2,500 meters. Two drill rigs will execute the program, primarily testing a NW-SE favorable trend, with hole lengths ranging from 120 to 230 meters. If initial results are favorable, two optional drill holes will reach depths of 200-250 meters to explore the southeastern extension of the mineralization trend. The drilling strategy is adaptive, with the number, location, depth, and orientation of holes subject to adjustment as the program progresses.
All drill samples have been submitted for laboratory analysis, and the company expects to complete the drilling program this summer, with all results anticipated in the third or fourth quarter of 2026. Approximately 20% of the company is held by the board of directors, 11% by other management or insiders, and about 18% by strategic investor Avino Silver & Gold. Its market capitalization is CAD 7.15 million, with 62.18 million shares outstanding.
