Drilling In Union Area Reveals CRD Mineralization At Gryphon Summit

VANCOUVER - Reyna Silver Corp. reported on the 2024 Drilling Program at the Gryphon Summit Project - where Reyna Silver is earning a 70% interest in the 12,058 ha (29,795 acre) Gold, Silver and Critical Metals project in Eureka and Elko Counties., Nevada from Golden Gryphon USA Inc. The Gryphon Project contains both Carlin-type Gold and historically mined Carbonate Replacement Deposit (CRD) mineralization. Post-1970 exploration focus has been on just the gold mineralization, because of its location on the axis of the Carlin Trend and the widespread gold mineralization identified on surface. Reyna Silver recognized the opportunity to potentially use the more chemically aggressive, structurally-controlled CRD mineralization to unlock the framework of the deposit and possibly help target both gold and silver mineralization.

The 2024 drill program marked the first time CRD mineralization was targeted at Gryphon, and the technical team is excited to report that drilling in the Union area revealed CRD mineralization and pathfinders overprinted and surrounded by gold mineralization pathfinders. The same Silver and Gold association was also cut in the Sadler target areas. The relatively shallow 2024 program tested combined geochemical, structural and geophysical anomalies believed to be associated with larger-scale targets at depth. Considering the size of the Gryphon project, identifying vectors to assist target prioritization and refinement is a major step forward as we continue exploring. The full drill results can be found by following this link.

The drill program consisted of 8 holes totalling 2,413 meters of core from 5 previously permitted drill pads in BLM and patented claim ground. Three holes were drilled at Union and five at Sadler. This represents a tiny fraction of the overall claim package. Drilling cut silver-bearing CRD mineralization, alteration and pathfinder metals with overprinting and surrounding gold mineralization for the first time at Gryphon. The geochemistry and core indicate the structures carrying this combination saw substantial mineralization-related fluid flow (See Union section below for technical details). Drilling here also cut silver-bearing CRD mineralization, alteration and pathfinder metals with overprinting and surrounding gold mineralization. Meanwhile, fieldwork identified the presence of the previously unrecognized IB Unit, regionally known as a significant host rock in the Pipeline-Cortez-Goldrush and Carlin-Goldstrike Carlin districts that also appears to be readily identifiable with CSAMT geophysics. Reevaluation of existing geophysics and extending it into new areas should significantly assist future targeting.

Reyna Silver's technical team designed a limited, shallow drilling program on the eastern side of the property area, where it is laced with multiple sub-parallel structures that show strong gold, silver, copper and pathfinder element geochemical anomalies along kilometres of their lengths. Most of these structures have never been directly targeted despite these anomalies and extensive historical prospecting work. Drilling was designed to test the overprinting hypothesis along two of these structures that were reachable from existing roads and permitted pads. The team believes the results validate the concept and warrant its much broader application across the balance of the property. Additionally, the results show that CSAMT geophysics reveals the location of a regionally well-known Carlin Gold host unit, now shown to extend across the property through the zone where major structures are associated with some of the most significant Gold and Silver results in the Sadler area.

"Gryphon is an enormous system with gold, silver and base metals everywhere, so confirming that probable Carlin-type gold overprints CRD mineralization along shared fluid pathways is an advance that may be critical for unlocking Gryphon and possibly related systems throughout the region," said Peter Megaw, Chief Technical Advisor. "We inherited decades of excellent exploration data for Gryphon and are excited to combine them with a new coherent district model to key into some of the most important targeting factors. Clearly, the results scream to have these existing data run through an AI program capable of picking out patterns based on our new concepts."