Actually 3.41% is a great copper result too. I'd love to get a look at that six metre thick section of very shiny rock.
U.S. Silver Corporation Drills 19.8 Feet Grading 63.90 opt Silver, 3.41% Copper on the 3400 Level of the Galena Mine
Wednesday July 25, 4:09 pm ET
ca.us.biz.yahoo.com
TORONTO, ONTARIO--(MARKET WIRE)--Jul 25, 2007 -- U.S. Silver Corporation (CDNX:USA.V - News) ("U.S. Silver" or the "Company") is pleased to announce results from recently completed diamond drilling on the 3400 Level at their underground Galena mine near Wallace, Idaho. Sixteen diamond drill holes were completed in the part of the mine known as the West Argentine Zone, targeting the 215 and 117 Veins. The drill holes were intended to infill those portions of the veins that are classified as probable reserves or inferred resource, and to test for extensions of the veins along strike.
The most spectacular hole drilled (DDH 34-105) hit 19.8 feet of siderite-tetrahedrite mineralization grading 63.90 ounces per ton (opt) silver and 3.41% Cu. Aside from the grade, the intercept is significant because it is located 170 feet west of any previous mining on the 117 Vein. The intercept in hole 34-105 was approximately 106 feet above the 3400 Level. At this time the true thickness of the intercept is undetermined, but a drift towards the intercept is in progress and expected to reach the target by the end of August.
Bruce Reid, CEO of U.S. Silver, states, "We are beginning to see the benefits from our aggressive underground exploration program as we have begun development in three new areas of the mine." A silver-lead zone on the 3700 Level was discovered earlier this year and development is currently underway. Work has begun in preparation of drifting on the 2400 Level toward the silver-copper and silver-lead mineralization west of the No. 3 shaft that was discovered late in 2006. In addition, development in the silver-lead ore zone on the 3000 Level has begun and hoisting of this silver-lead ore to the surface using the Coeur Shaft will begin in early September.
The recently completed drilling on the 3400 Level was successful in extending known mineralization on the 117 Vein further to the west as well as verifying the presence of ore grade mineralization above and below the level on the 117 and 215 Veins in areas currently classified as probable reserves or inferred resource. Underground diamond drilling is ongoing in other areas of the mine with two diamond drills, each working two shifts per day.
All silver assay results reported in this news release were analyzed using standard fire assay techniques by American Analytical Services located in Osburn, Idaho. Check assays are conducted by ALS-Chemex, located in Sparks, Nevada. All samples are obtained and assays are reported under a formal quality assurance program. All diamond drill core holes were drilled with BQ size tools.
Selected drill hole intercepts from the recently completed exploration drilling on the 3400 level of the Galena mine are listed in the table below:
True
From To Length Thickness
Hole # (feet) (feet) (feet) (feet) Ag opt Cu%
-----------------------------------------------------------------
117 Vein
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34-100 268.0 272.4 4.4 4.1 9.79 0.48
34-101 255.0 262.0 7.0 6.1 38.59 2.40
34-102 260.0 266.2 6.2 5.4 17.63 1.16
285.0 295.4 10.4 8.0 23.77 1.04
34-105 435.0 454.8 19.8 63.90 3.41
34-107 423.0 431.1 8.1 5.2 6.46 0.34
215 Vein
--------
34-092 347.5 352.6 5.1 4.8 24.97 0.68
34-093 355.1 362.0 6.9 6.3 19.21 0.47
34-094 383.0 391.0 8.0 6.9 9.14 0.20
QUALIFIED PERSON
Information of a technical nature in this press release respecting the properties has been prepared and reviewed by Mr. Daniel H. Hussey, Chief Geologist of U. S. Silver. Mr. Hussey is a "qualified person" within the meaning of National Instrument 43-101 of the Canadian Securities Administrators.
ABOUT U.S. SILVER CORPORATION
U.S. Silver owns and operates the producing Galena silver mine in Shoshone County, Idaho, which is the second most prolific silver mine in US history. Total silver production from U.S. Silver's Galena and Coeur mining complex has exceeded 210 million ounces of silver production since 1953. In June 2006, U.S. Silver acquired the Galena mine, Coeur mine, and Caladay property along with a land package of 11,000 acres in the heart of the Coeur d'Alene Mining District. U.S. Silver is focused on the production and exploration of its extensive Silver Valley holdings.
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in filings by the Company with the Canadian securities regulators, which filings are available at www.sedar.com.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contact:
Contacts:
U.S. Silver Corporation
Bruce Reid
Chief Executive Officer
(647) 500-4495
U.S. Silver Corporation
Vance Loeber
Investor Relations
(604) 805-3530
Source: U.S. Silver Corporation |
