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Gold/Mining/Energy : SSRIF Silver Standard Resources -- Ignore unavailable to you. Want to Upgrade?

To: philv who wrote (132)	1/9/1998 4:14:00 PM
From: posthumousone	Read Replies (1) \| Respond to of 403

can anyone interpret these drill results???? they are pleased to present them......of course they are still no where near there 260 projection also note they sneaked in the warrant redemption Dilution: Silver Standard Resources: More Drill Results From Australian Silver Project BusinessWire, Friday, January 09, 1998 at 14:19 VANCOUVER, B. C.--(BUSINESS WIRE)--Jan. 9, 1998--Silver Standard Resources Inc. (VSE:SSO) (NASDAQ:SSRIF) is pleased to report final assay results from a recently completed program of reverse circulation drilling on the company's wholly- owned Mudgee project located 200 kilometres northwest of Sydney, N.S.W., Australia. A total of 27 reverse circulation holes totalling 1,834 metres were completed on two areas, the Bowdens deposit and the Coomber prospect. Drilling in the Bundarra South zone of the Bowdens deposit identified a high-grade extension of near-surface silver mineralization. Significant results included: T Drill Interval Width Silver Grade Zinc Lead Holes (in (in (in (in (in (in (in metres) metres) feet) g/t) oz/ton) p.cent) p.cent) BGR-024 0 - 22 22 72.2 174 5.1 0.98 0.33 40 - 60 20 65.6 41 1.2 0.24 0.10 BGR-026 6 - 10 4 13.1 174 5.1 0.70 0.48 BGR-028 4 - 16 12 39.4 58 1.7 - - BGR-029 4 - 16 12 39.4 178 5.2 0.33 0.39 T Previous drilling on the Bowdens deposit had outlined inferred silver resources of 18.8 million tonnes grading 99 grams of silver per tonne, or approximately 60 million ounces of silver. Thirty (30) kilometres to the south, all drilling at the Coomber prospect intersected narrow, high-grade zones of silver within broad haloes of anomalous silver values. Silver Standard now owns 100 percent of the Mudgee project which consists of five exploration licences totalling 411 km2. The company is planning additional drilling of the Bowdens deposit, further exploration of prospects near Coomber and follow-up of other silver and base metal stream sediment anomalies. In other corporate developments, the company reports that the securities commissions of Ontario and British Columbia issued receipts on December 19, 1997 for a final prospectus filed by Silver Standard in connection with two private placements of special warrants. The private placements resulted in gross proceeds of $3,203,500 and the issuance of 819,500 commons shares. Silver Standard now has 15,320,797 common shares issued and outstanding and 16,850,797 common shares on a fully diluted basis. Silver Standard is a significant silver resource company with major projects located in Australia, the Russian Far East, Bolivia and the United States. The company now has in excess of 160 million ounces of silver resources, owned and under option.