SF silver fields .16 had huge volume and might be a good cheap silver play as they have quite a stable of silver properties including a past producing mine in coeur d'Alene. whereas most silver is found close to the surface at coeur de Lene the ore goes deeper than people can mine it and some mines I htink are down over 2 miles. It gets too hot real deep; and some Mexico silver property. Could get a quick double as many peopl will be looking for cheap plays.
Thursday February 15th, 2007
Silver Fields Property Update
Chris England, President of Silver Fields Resources Inc., (“Silver Fields”) announces the following update on the Company’s current property portfolio.
Beacon Light Project
Silver Fields has an option to acquire a 70% interest in the Beacon Light Property, located in Shoshone County, in the Coeur d’Alene Silver Valley District of Northern Idaho. The property consists of 11 mineral claims covering 220 acres and is a past producing mine.
Silver Fields had engaged a mining geologist last fall to verify the condition of the surface access to various adits and shafts of the old mine workings with a view to preparing a possible detailed restoration and exploration program. The review showed one tunnel had collapsed however two others were explored as far as could safely be accessed without proper ventilation. Further staking has been recommended for the surrounding area, and the Company is prepared to hire a mining engineer to further determine the safety of the portal and the tunnels.
JE Project
Silver Fields has an option to acquire a 75% interest in the JE Property, located in Saunders County, in the State of Montana. The property consists of 125 unpatented mining claims covering 2,500 acres. The area known as the Montana Copper-Sulphide Belt is a key mining district with three world class stratiform silver-copper deposits, the Troy, Rock Creek and the Montanore. Silver Fields’ Consulting Geologist Dr. K. Warren Geiger, who is also a director of the Company had contracted with Mr. Jim Ebisch to supervise drilling an initial strategically located exploratory drill hole. In view of the instability of the soil, it was decided to use a large bore rotary drill to go through the overburden to reach the bedrock, and use a 2 ½ inch (H size) core drill within the 6 inch casing to continue drilling to the 1600 foot level. The hole reached bedrock at 203 feet and the casing was secured. All drill permits and environmental approvals have been obtained, and drilling will resume following spring breakup.
Bolshoi Project
Silver Fields has an option to acquire a 70% interest in the Bolshoi Property located in the Zacatecas area of Central Mexico. The property consists of mineral claims covering 4,700 acres, near the village of Cuauhtemoc, 50 km southeast of Zacatecas City. It comprises the Panfilo Nateras Mining District and the Ojocaliente mineralized zone. The Company hired consulting Geologist Mr. Richard Tschauder to conduct an exploration program following the completion of the recent financing. Mr. Tschauder is in Mexico at the present time.
Frisby Ridge Project
Silver Fields Resources Inc., has staked four claim blocks totalling over 73 claims, located north of Revelstoke in the Kamloops and Revelstoke Mining Divisions of east central British Columbia, Canada. The silver, lead, zinc claims cover over 1500 hectares.
The claims have had soil geochemical and geophysics carried out in the early 90’s and that program discovered a Sedex (sedimentary-exhalative) type deposit, similar to the Ruddock Creek, Cottonbelt and Jordan River deposits. The mineralized horizon has been followed for more than a kilometre and may extend throughout the entire length of the property. There is also a parallel horizon 2-5 metres thick, of extrusive carbonatite, a type of volcanic limestone. This unit hosts widespread niobium and light rare-earth elements. Mr. James Laird who is also a director of the Company, is currently working on a detailed exploration budget and exploration is expected to commence following spring breakup.
Teihsum River Project
Silver Fields has an option to acquire a 100% interest in the Teihsum River Property located in the Nanaimo Mining Division, Vancouver Island, British Columbia. The property consists of 9 mineral claims. The Company has granted an option to Grande Portage Resources Ltd of Vancouver to acquire up to 70% of Silver Field’s interest in the property. Grande Portage is currently conducting an extensive exploration program on its Merry Widow Property which is directly north of the Teihsum River project. Further exploration on this property by Grande Portage is expected in early spring of this year.
New Projects
Following the completion of the recent financing, the Board of Directors has approved an expanded search for additional properties of merit in British Columbia, under the supervision of Mr. James Laird; in Mexico, under the supervision of Mr. Richard Tschauder, who is currently in Zacatecas Mexico; and in the Silver Valley area of Idaho and Montana, under the supervision of Dr. K. Warren Geiger, who is currently in Coeur D’Alene, Idaho.
Statements about the Company’s future expectations and all other statements in this press release other than historical facts are “forward looking statements”. The Company intends that such forward-looking statements be subject to the safe harbours created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company’s actual results may differ materially from the expected results.
We seek Safe Harbor.
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