FOR FURTHER INFORMATION PLEASE CONTACT:
Silver Standard Resources Inc.
Robert A. Quartermain
President
(604) 689-3846
or
Silver Standard Resources Inc.
Paul LaFontaine
Manager, Investor Relations
(604) 689-3846
E-Mail: invest@silver-standard.com
www.silver-standard.com
--------------------------------------------------------------------------------
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: SILVER STANDARD RESOURCES INC.
VSE SYMBOL: SSO
NASDAQ SYMBOL: SSRIF
FEBRUARY 22, 1999
Silver Standard Reports Three Zones Open as 1998 Drilling
Completed at Bowdens Project
VANCOUVER, BRITISH COLUMBIA--Silver Standard Resources Inc. is
pleased to report assay results for nine remaining reverse
circulation drill holes totalling 982 metres at the company's 100
percent-owned Bowdens silver project in New South Wales,
Australia. All holes intersected mineralization and results
include further significant silver and base metal values in both
infill and step-out drilling in the Main Zone North, and Bundarra
North and Bundarra South Zones. Potential for further resource
expansion exists in the Main Zone South, and Bundarra North and
South Zones, as well as other prospects in the extensive claim
area.
The best results in terms of core length and grade were drilled in
the Main Zone North. Two holes tested the continuity of earlier
high-grade drill results in the northern area of the planned open
pit. Significant results from vertical hole BGR 132 included 215
grams per tonne or 6.3 ounces per ton of silver-equivalent over 31
metres. BGR 133, collared approximately 100 metres to the
northeast, intersected 146 grams per tonne or 4.3 ounces per ton
of silver-equivalent over 65 metres.
At the Bundarra North Zone, hole BGR 134 tested mineralization in
an area where little drilling has been completed. Previously
reported results from this hole included 144 grams per tonne or
4.2 ounces per ton of silver-equivalent over 13 metres and 92
grams per tonne or 2.7 ounces per ton of silver-equivalent over 10
metres. In addition, the 13-metre section included a higher grade
interval which assayed 265 grams per tonne or 7.7 ounces per ton
of silver-equivalent over four metres.
BGR 135, 136 and 137 were collared within 100 metres of BGR 134.
BGR 137 is located in the untested northwestern area of the
Bundarra North Zone. Its results were the best of the three new
holes, intersecting 69 grams per tonne or 2.0 ounces per ton of
silver-equivalent over 95 metres. The mineralized zone is open to
the north and to the west. BGR 138 and 139 tested the
southwestern area of the Bundarra North Zone and both holes
intersected higher grade silver-equivalent mineralization in core
intervals ranging from three to 16 metres.
BGR 140 tested outcropping mineralization in the Bundarra South
Zone. Values included 62 grams per tonne or 1.8 ounces per ton of
silver-equivalent over 23 metres in this relatively untested new
area. Potential for expansion of silver resources also exists in
the Main Zone South where planned drilling was interrupted by
heavy rainfall.
Since Silver Standard commenced drilling at Bowdens, 100 reverse
circulation and 22 diamond drill holes totalling 12,793 metres
have been completed. All data are now being compiled as part of
the ongoing feasibility study to be completed in the third quarter
of 1999. Metallurgical optimization, environmental and
engineering studies are continuing.
Silver Standard Resources Inc. is a silver resource company with
exploration projects and regional offices in Australia, Argentina,
Bolivia, the United States, Mexico and Peru. Silver Standard's
advanced projects, owned and under option, have a combined total
exceeding 120 million ounces of silver-equivalent resources.
/T/
Drill Coordinates Interval Length Silver Silver
Hole (metres) (metres) Equivalent
From To (g/t) (g/t) (oz/ton)
MAIN ZONE NORTH
BGR 132 10450N 15343E 57 88 31 187 215 6.27
BGR 133 10500N 15425E 82 147 65 116 146 4.26
incl. 82 101 19 241 257 7.50
BUNDARRA NORTH ZONE
BGR 134 10550N 15100E 33 43 10 54 92 2.68
46 59 13 80 144 4.20
incl. 54 58 4 163 265 7.73
BGR 135 10500N 15100E 53 65 12 23 69 2.01
70 86 16 24 62 1.81
BGR 136 10500N 15100E 18 26 8 82 126 3.67
47 60 13 41 99 2.89
BGR 137 10550N 15050E 12 107 95 33 69 2.01
incl. 41 102 61 40 79 2.30
BGR 138 10300N 15025E 26 36 10 61 110 3.21
(x) 69 85(x) 16 104 127 3.70
incl. 72 78 6 157 192 5.60
BGR 139 10275N 15000E 0 6 6 68 72 2.10
23 26 3 103 129 3.76
BUNDARRA SOUTH ZONE
BGR 140 10075N 14950E 0 23 23 55 62 1.81
incl. 14 23 9 81 95 2.77
(x) Hole ended in mineralization
/T/
To receive Silver Standard's news releases by e-mail, contact
Investor Relations at invest@silver-standard.com, or sign up at
the company's web site at silver-standard.com.
The Vancouver Stock 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.
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