SILVER STANDARD RESOURCES INC ("SSO-V;SSRI-2")
- Argentina Drilling Intersects More High-Grade Silver and Gold
- At Manantial Espejo
Silver Standard is pleased to report that diamond drilling results to
date from the Karina/Union and Melissa veins have intersected high-grade
gold and silver values. These results are part of a 5,000-metre drill
program that has now been completed and further assays from the program
will be reported on receipt.
The objective of the Karina/Union drilling was to provide
additional information on near-surface continuity and grade of
mineralization encountered in deeper drilling on specific
sections. The best assay results (see Table 1) were received from
T-259 and T-260 which intersected thick sequences of high-grade
precious metals mineralization. T-259, drilled on Line 425 East,
reported 11.2 ounces of silver per ton and 0.10 ounces of gold per
ton over 48.6 feet (382.9 grams of silver per tonne and 3.6 grams
of gold per tonne over 14.8 metres). Within this interval were
33.2 ounces of silver per ton and 0.59 ounces of gold per ton over
2.6 feet (or 1,138.6 grams of silver per tonne and 20.3 grams of
gold per tonne over 2.6 feet).
T-260, which was drilled 25 metres away from T-259 on Line 450
East, reported 13.8 ounces of silver per ton and 0.10 ounces of
gold per ton over 36.1 feet (474.6 grams of silver per tonne and
3.5 grams of gold per tonne over 11.0 metres). Within this
interval were 30.8 ounces of silver per ton and 0.29 ounces of
gold per ton over 4.6 feet (or 1,055.2 grams of silver per tonne
and 9.9 grams of gold per tonne over 1.4 feet). The results from
holes T-259 and T-260 are expected to move inferred resources into
measured and indicated resources at Karina/Union.
The three holes at Veta Melissa reported in this release were
drilled to define the orientation of a high-grade shoot
encountered in previous drilling. Within a thick interval of
mineralization (21.0 ounces of silver per ton and 0.43 ounces of
gold per ton over 23.0 feet or 722 grams of silver per tonne and
14.8 grams of gold per tonne over 7.0 metres), Hole T-264
intersected up to 132 ounces of silver per ton and 2.2 ounces of
gold per ton over 1.6 feet (4,524.1 grams of silver per tonne and
73.8 grams of gold per tonne over 0.5 metres). Veta Melissa is of
interest because it may represent the faulted-off continuation of
Veta Maria which hosts most of the currently defined resources at
Manantial Espejo. Further assay results from drilling of other
targets on the property are expected soon.
Silver Standard holds a 10% direct interest in the Manantial
Espejo project and an option to earn a further 40% interest from
Black Hawk Mining Inc. which currently holds a 90% interest.
Silver Standard is well-financed with a current cash position of
$6.2 million. The company continues advancing its silver-dominant
projects located in Australia, Argentina, the United States and
Canada.
To receive Silver Standard's news releases by e-mail, contact Paul
LaFontaine, manager, investor relations at
invest@silverstandard.com or call (888) 338-0046. The Canadian
Venture Exchange has neither approved nor disapproved of the
information contained herein. The statements that are not
historical facts are forward-looking statements involving known
and unknown risks and uncertainties which could cause actual
results to vary considerably from these statements. The risks and
uncertainties include those described in Silver Standard's SEC
Form 20F as amended.
//st
Table 1 - SELECTED DIAMOND DRILL RESULTS
MANANTIAL ESPEJO SILVER-GOLD PROJECT, ARGENTINA
Drill From To Interval Gold Silver Silver Interval Silver
Hole (m) (m) (m) (g/t) (g/t) Equiv. (feet) Equiv.
(55:1) (55:1)
(g/t) (oz/ton)
Veta Karina/Union
T-258 10.9 12.4 1.5 1.6 279.5 364.7 4.9 10.6
50.9 51.5 0.6 3.1 409.1 577.8 2.0 16.9
60.0 61.9 1.9 1.9 187.4 292.5 6.2 8.5
T-259 14.6 29.4 14.8 3.6 382.9 582.0 48.6 16.9
incl. 19.6 23.3 3.7 8.4 685.8 1,148.9 12.1 33.5
incl. 22.5 23.3 0.8 20.3 1,138.6 2,252.4 2.6 65.7
incl. 28.5 29.4 0.9 15.9 1,376.6 2,249.5 3.0 65.6
42.9 49.2 6.3 1.0 166.6 223.3 20.7 6.5
62.3 68.8 6.5 1.3 271.0 342.6 21.3 10.0
T-260 17.1 23.4 6.3 1.0 171.6 224.1 20.7 6.5
46.5 57.5 11.0 3.5 474.6 666.1 36.1 19.4
incl. 46.5 47.9 1.4 9.9 1,055.2 1,597.3 4.6 46.6
incl. 54.9 55.9 1.0 10.4 1,452.2 2,025.9 3.3 59.1
69.5 77.1 7.6 1.3 199.0 271.6 24.9 7.9
T-261 22.0 23.6 1.6 1.9 289.3 395.5 5.2 11.5
27.6 29.3 1.7 5.7 467.7 778.6 5.6 22.7
45.9 47.9 2.0 2.6 324.3 464.6 6.6 13.6
50.0 51.6 1.6 6.7 639.6 1,005.4 5.2 29.3
T-262 20.2 22.1 1.9 2.3 229.5 354.4 6.2 10.3
Veta Melissa
T-263 Anomalous values
T-264 73.7 76.2 2.5 10.5 350.2 927.2 8.2 27.0
incl. 75.4 76.2 0.8 33.6 980.3 2,826.1 2.6 82.4
81.6 88.6 7.0 14.8 722.2 1,536.2 23.0 44.8
incl. 81.6 82.1 0.5 73.8 4,524.1 8,583.1 1.6 250.3
incl. 85.7 86.8 1.1 53.3 976.9 3,906.2 3.6 113.9
incl. 86.8 87.5 0.7 9.3 1,564.3 2,077.3 2.3 60.6
T-265 Anomalous values
//et
TEL: (604) 689-3846 Silver Standard Resources Inc.
Robert A. Quartermain, President
Internet: www.silver-standard.com
TEL: (604) 484-8212 Silver Standard Resources Inc.
TEL: 1-888-338-0046 Paul LaFontaine, Manager, Investor Relations
E-mail: invest@silverstandard.com |
