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Silver Standard Reports Significant Silver and Zinc
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Silver Standard Resources Inc. (TSX:SSO)(NASDAQ:SSRI) reported significant silver and zinc mineralization intercepts within the first eight holes drilled in the Cortaderas target area during its 2012 exploration program at the Pirquitas mine in Jujuy, Argentina. Select assay results from the first eight holes completed include:
-- DDH-230: 24 meters at 1,764 g/t Ag and 4.9% Zn -- DDH-231: 78 meters at 756 g/t Ag and 9.8% Zn -- DDH-232: 25 meters at 425 g/t Ag and 4.4% Zn -- DDH-233: 69 meters at 324 g/t Ag and 5.8% Zn
Ron Burk, Vice President of Exploration, commented: \”These drill results again highlight the growing potential of the resources discovered last year in the Cortaderas target area, situated approximately 300 meters north of the open-pit. The eight reported drill holes tested for and confirmed the lateral continuation of the Cortaderas Breccia resource. The high-grade breccia-hosted mineralization intersected by holes DDH-230 and DDH-231 is very similar to the style of mineralization previously intersected by holes DDH-167 and DDH-214(1). Based on the results of these drill holes, we are confident the Cortaderas Breccia body will be extended by 50 meters to the west, east and south, with the east and west margins remaining open.\”
As of July 25th the Company had completed approximately 19,000 meters of a planned 28,000-meter drilling program on the property using two drill rigs. The Company plans to accelerate drilling on the property during the second half of the year using a third rig that was recently delivered to the site. The drill holes are spaced such that the density of assay data should allow the Company to reclassify inferred resources to the indicated category. Additionally, the drill program is designed to increase Silver Standard\’s previously estimated Cortaderas Valley and Cortaderas Breccia inferred mineral resources as described in our latest NI 43-101 compliant technical report dated December 23, 2011. Periodic updates will be provided as assay results become available.
Details of the Cortaderas Breccia intercepts received to date are presented in Table 1 and Figure 1, respectively. Note that the drill holes reported are oriented at shallow angles to the inferred plunge orientation of the mineralized breccia body. The current drilling program includes drill holes that will intersect the mineralized breccia zone at orientations that are expected to enable the Company to estimate the true thickness of the body.
Table 1: Significant Cortaderas Breccia intercepts as of July
25th, 2012
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FROM TO INTERVAL Ag Zn
DRILL HOLE (m) (m) (m) (g/t) (%)
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DDH-225 140.20 307.55 167.35 30.32 2.18
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DDH-227 110.00 128.00 18.00 40.35 3.85
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DDH-228 111.00 130.75 19.75 36.91 3.17
----------------------------------------------------
139.68 144.00 4.32 43.35 3.32
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DDH-229 87.00 160.25 73.25 77.04 5.32
----------------------------------------------------
372.00 384.00 12.00 89.10 8.02
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DDH-230 188.00 214.00 26.00 84.80 4.60
----------------------------------------------------
297.00 330.00 33.00 118.38 6.22
----------------------------------------------------
338.00 354.00 16.00 56.88 4.33
----------------------------------------------------
380.80 404.56 23.76 1,763.73 4.91
----------------------------------------------------
435.92 490.00 54.08 798.29 15.60
----------------------------------------------------------------
DDH-231 220.00 298.00 77.38 756.11 9.78
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DDH-232 188.00 240.40 52.40 66.46 3.37
----------------------------------------------------
298.80 311.00 12.20 369.43 4.48
----------------------------------------------------
332.00 356.85 24.85 425.36 4.40
----------------------------------------------------
411.30 418.83 7.53 99.02 5.19
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DDH-233 126.00 195.33 69.33 324.22 5.76
----------------------------------------------------------------
Notes to Table 1:
1. Drill holes are oriented at shallow angles to the inferred plunge
orientation of mineralized breccia body.
2. Mineralized intercepts are not true thicknesses. Thicknesses are to be
determined with follow-up drilling.
3. The assay data presented in Figure 1 have not been capped (top-cut).
4. Reported intervals were selected above a 20 g/t Ag cut-off.
Posted July 25, 2012
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