Silver Standard hits more bonanza grades

Vancouver — Silver Standard Resources (SSO-V) has tabled more high-grade results from infill and exploration drilling at the Manantial Espejo silver-gold project in Argentina’s Santa Cruz province.

So far 2,868 metres have been drilled in the planned 5,000 metre program. The latest results comprise 15 holes (1,034 metres) collared on the Veta Maria area where a series of shallow holes, collared on 25-metre centres, are being drilled over the 750-metre strike length of the vein system. The best results came from the northwestern edge of the target with hole 257 cutting 3.3 metres grading 80.5 grams gold and 420.7 grams silver per tonne from 42.3 metres down-hole.Moving 750 metres southeast at the opposite end of the vein system, hole 255 hit 2.5 metres grading 1.5 gram gold and 1,328.3 grams silver from 57.4 metres down-hole.Other highlights include:

• hole 243, which cut 3.9 metres grading 2.1 grams gold and 37.4 grams silver starting from a down-hole depth of 42.3 metres,
• hole 245, which intersected 10 metres grading 3.1 gram gold and 134 grams silver starting at 91.4 metres down-hole,
• hole 248, which intersected 18.1 metres grading 1.7 grams gold and 128.5 grams silver starting at 43.8 metres down-hole; and
• hole 251, which returned 8.1 metres of 4.2 grams gold and 335.8 grams silver starting at 55.2 metres down-hole,

Following the 3,000 metres of drilling slated for the Veta Maria area, 2,000 metres is planned for other veins and new targets on the property.

At last report, measured and indicated resources at the Manantial Espejo deposit totaled 4.4 million tonnes grading 263.8 grams silver and 4.51 grams gold per tonne. The inferred resource stands at 1.6 million tonnes grading 258.2 grams silver and 3.65 grams gold. Measured and indicated resources represent 73% of the total resource.

Discovered in 1989, the project consists of eight concessions covering 225 sq. km. It is situated 160 km west of the tidewater port of Puerto San Julian and is accessible via an all-weather gravel road. Geologically, the property is underlain by Jurassic-aged andesitic flows and agglomerates covered by felsic tuffs and ignimbrites. Silver and gold mineralization is associated with northwest-trending fault zones and is generally confined to continuous shoots in quartz veins.

Silver Standard holds a 10% direct interest in Manantial Espejo and has an option to earn a further 40% from Black Hawk Mining (BHK-T), which holds 90% currently.