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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge
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To: Stephen O who wrote (5226)12/5/2001 8:57:59 AM
From: Al Collard   of 11802
 
BHK-t...in the news:

Silver Standard releases Manantial Espejo drill results

Tue 4 Dec 2001

News Release

See Silver Standard Resources Inc (SSO) News Release
Mr. Robert Quartermain of Silver Standard reports
Silver Standard Resources has released final assays for the first phase of
a continuing program of infill, extension and exploration diamond drilling
now under way at the Manantial Espejo silver-gold project in Argentina. A
total of 2,868.4 metres were drilled on Veta Maria and the 15 holes
reported here comprise 1,034.4 metres of a 5,000-metre campaign that will
be completed in early December.
The best results from this set of assays were in holes T-255 and T-257 that
are located at opposite ends of Veta Maria. T-255, drilled at the
southeastern end of the presently defined mineralization, intersected 9.5
feet of 32.9 ounces of silver per ton and 0.04 ounce of gold per ton (2.9
metres of 1,127 grams of silver per tonne and 1.3 grams of gold per tonne).
Within this intersection is a 2.6-foot interval that assayed 102.6 ounces
of silver per ton and 0.06 ounce of gold per ton (or 0.8 metre of 3,517
grams of silver per tonne and 2.1 grams of gold per tonne). The success of
hole T-255 illustrates the potential for extending Veta Maria beyond its
present strike length.
T-257, located 2,460 feet (750 metres) to the northwest of T-255, had
unusually strong gold values. This near-surface hole intersected 10.8 feet
of 12.3 ounces of silver per ton and 2.3 ounces of gold per ton (3.3 metres
of 421 grams of silver per tonne and 80.5 grams of gold per tonne). Within
this intersection is a 2.3-foot interval that assayed 7.9 ounces of silver
per ton and 11.2 ounces of gold per ton (or 0.7 metre of 272 grams of
silver per tonne and 382.8 grams of gold per tonne). The very high grades
for silver and gold in holes T-255 and T-257 will help to improve the
economics of open pit mining of Veta Maria when a production decision is
made.
Following the drilling at Veta Maria, a further 2,000 metres is planned for
extension and exploration drilling of other veins and new targets. Drilling
is currently focused on Veta Karina/Union. Silver Standard holds a
10-per-cent direct interest in the Manantial Espejo project and an option
to earn a further 40-per-cent interest from Black Hawk Mining Inc. which
currently holds a 90-per-cent interest.
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