Fabled Silver Gold  (TSXV: FCO; OTCQB: FBSGF, and FSE: 7NQ) reports that it has completed the planning for a Phase 2 exploration diamond drill program on the Santa Maria Property in Parral, Mexico.

Peter Hawley, President, CEO reports; “As mentioned before, the past year of exploration diamond drilling, underground diamond drilling, definition diamond drilling, and finally surface mapping and sampling,  has been not only aggressive, but has resulted in over 6,900 samples collected and analyzed. This massive input of data has led our stream lined analytical team to new important understandings of the structural and mineralization controls on the western sector of the property where approximately 80% of our efforts over the past year were focused.

Before we report our new findings, I would like to extend our thanks to our Project Manager Joaquin Rodriguez and senior geologist Edgar Rojas for their contribution to these important steps forward.”

When the Company embarked on this project, we were of the opinion this was a low sulfidation epithermal system deposit and contained two veins of interest. The Santa Maria and Santa Maria Dos veins.

Following the completion of the Phase 1 drilling we have now had time to “stop chasing the bit” and have compiled the total data collected. Through analysis of the data generated many things have become clear.

The veins thought to be the Santa Maria veins are in fact mineralized breccias at the contacts or within diorite dikes. Furthermore, there are different generations of structural / mineralization controls and some of the 2021 exploration drilling intercepted one of the secondary mineralized dike structures which is the Santa Maria off-set to the northeast which remains open in all directions, such as the last hole drilled on the Santa Maria deposit on the western sector of the property, where we intercepted 21.90 meters grading 5.29 g./t Au in 349.21 g/t Ag Eq with an astonishing 4,821.98 g/t Ag eq with 86.10 g/t Au.

Using the valuable 2021 drilling information, we will apply the new structural interpretation and the Santa Maria signature and controls to the rest of the property, paying particular attention to the mineralized structures / breccias.  Due to the association with the diorite dikes the present focus of sampling is the dikes, the mineralization found within or with a relationship to them.

Detailed field mapping and structural analyses led by our senior team including our Project Manager has resulted in the below, property wide interpretation  in preparation for Phase 2 exploration drill targets.

As previously reported past surface sampling of the “Northeast Structure” has reported surface sampling of 1.25 meters of 72.12 g/t Ag Eq and 2.20 meters grading 116.20 g/t Ag Eq including 206.80 g/t Ag Eq over 0.80 meters. In addition, it is now realized that drill hole SM20-11 intercepted the Northeast secondary mineralized structure and reported 3 separate mineralized zones; Zone 1 from 62.80 – 95.59 meters grading 31.72 g/t Ag Eq over the 26.90 meters including 1.20 meters grading 110.11 g/t Ag Eq; Zone 2 from 101 – 103.20 reporting 118.57 g/t Ag Eq over the 2.20 meters and the third Zone which returned 3.50 meters grading 40.80 g/t Ag Eq.

The 2022 field work and observations for the final planning of the Phase 2 Exploration Diamond Drill Program. To support the drill hole targeting the following has been completed.

• 258 new surface samples taken to date
• 11,388 square meters of detailed geological mapping
• 237 structural stations for detailed structural interpretations

The 56 sample results listed below are partial surface sampling results from the field evaluations using a 30 g/t silver cut-off, as there are too numerous results to report. See Table 1 below;

As a result of work to date, 6 mineral / structural trends or potential dilation zones have been observed and are potential targets. These are as follows;

1. Stockwork North - East mineralized breccia system, successfully intercepted in drill hole SM20-11,
2. North mineralized oxidized breccia system,
3. North 2 Dike System and mineralized breccias
4. North East breccia system
5. Middle Santa Maria Deposit trend
6. East Santa Maria Deposit trend

See Figure 1 below.

Figure 1 – Santa Maria Property Exploration Mineralized System Targets

The designed exploration diamond drill program is in two phases, of which, the second phase is result driven based on first phase results.

Exploration Drill Target #1 is a  stockwork quartz veining North - East mineralized breccia system, which was successfully intercepted in drill hole SM20-11, as discussed above. A total of 4 first priority holes for a total of 800 meters have been planned along with 300 meters in 1 hole as second priority. The results of the first 4 holes will determine if this area is followed up. See Figure 2 below.

Figure 2 – Drill Target #1 Longitudinal and Cross Section

Exploration Drill Target #2 is the north trending mineralized oxidized breccia system and the intersection of the north east breccia system which may create a dilation zone. Four first priority drill holes have been planned for a total of 1,220 meters and if successful an additional 1,100 meters of second priority drill holes have also been planned. See Figure 3 below.

Figure 3- Drill Target #2 Longitudinal and Cross Section

Exploration Drill Target #3 is the north 2 trending dike system and related mineralized breccias where 3 first priority holes totaling 650 meters have been planned and if successful an additional 550 meters in 2 holes planned. See Figure 4 below.

Figure 4- Drill Target #3 longitudinal and Cross Section

Exploration Drill Target #4 is the north east trending mineralized breccia system and the interception of the north east breccia zone which may create a dilation zone. Two first priority drill hole totaling 570 meters have been planned plus if successful and additional 4 secondary holes totaling 1,220 meters have been outlined. See Figure 5 below.

Figure 5- Drill Target #4 longitudinal and Cross Section

Exploration Drill Target #5 is the middle Santa Maria Deposit trend extension and the intersection of the north east breccia system targeting a potential dilation zone. One first priority drill hole has been planned totaling 250 meters with a results driven second priority hole of 320 meters planed for follow up if warranted

Figure 6- Drill Target #5 Longitudinal and Cross Section

Finally, exploration Drill Target #6 is the Santa Maria Deposit trend east extension where various mineralized dikes have been found on surface. One first priority drill hole has been planned totaling120 meters with a results driven second priority hole of 200 meters planed for follow up if warranted.

Figure 7- Drill Target #6 Longitudinal and Cross Section

Exploration Drill Pad Location Update

The exploration drilling pads / sites are presently being prepared in advance with ample water for surface drilling. The drill stations with the lowest environmental impact have been determined and any exploration drill stations outside the currently permitted area have been incorporated in to an amendment to our current drill permit and presently being with SEMARAT. While this process is on-going exploration drilling of the permitted sites is scheduled to begin mid June 2022.

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Disclaimer: Fabled Silver & Gold is a paid marketing client*

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