Silver Standard cuts more silver at Bowdens

Vancouver — Silver Standard Resources (SSO-V) has tabled more assay results from its infill drilling campaign at its wholly-owned Bowdens silver project located in New South Wales, Australia.

These assay results are part of a recently completed 19,000-metre drill program that commenced last October. Most of the holes in this batch of results were collared in the Main Zone North area. The remaining holes were collared at Bundarra North and Main Zone South.

Silver Standard states that the drill program confirmed the continuity of mineralization at the deposit and identified local high-grade silver values over significant widths.

The company states that the best results from this batch of 30 reverse circulation drill holes came from the Main Zone North area. Highlights of some of the results are as follows;

• Hole BGR-286 cut 10 metres averaging 132 grams silver 0.39% lead and 0.18% zinc starting 19 metres down-hole. This was followed by a 51-metre interval that averaged 278 grams silver, 0.54% lead and 0.42% zinc, starting 42 metres down-hole. This included a 10-metre interval that averaged 1,056 grams silver, 1.09% lead and 0.58% zinc.
• Hole BGR-280 cut 36 metres averaging 299 grams silver, 0.64% lead and 0.18% zinc, starting 83 metres down-hole. This included a 3-metre interval that averaged 1,163 grams silver, 1.68% lead and 0.48% zinc.
• Hole BGR-278 cut 16 metres averaging 618 grams silver, 1.25% lead and 1.31% zinc, starting 48-metres down-hole. This included a 2-metre interval that averaged 3,086 grams silver, 4.55% lead and 3.35% zinc.
• Hole BGR-299, a single infill hole in the Main Zone South, cut 71 metres averaging 63 grams silver, 0.44% lead and 0.96% zinc, starting 12 metres down-hole. This included a 7-metre section that averaged 113 grams silver, 0.97% lead and 2.14% zinc.
• The best result from Bundarra North area came from hole BGR-301. This hole cut 13 metres averaging 132 grams silver, 2.14% lead and 0.95% zinc, starting 59 metres down-hole. This was followed by a 53-metre section averaging 37 grams silver, 0.66% lead and 0.41% zinc, starting 105 metres down-hole as well as a 74-metre section averaging 26 grams silver, 0.31% lead and 0.17% zinc starting 163 metres down-hole.

The deposit remains open to the north and northwest were reverse circulation drilling is inhibited with the current equipment. Results from an additional 12 holes are still pending. Once all of the assay results are received, Silver Standard will complete a new block model resource calculation.

Resources at Bowdens were audited by Pincock Allen & Holt in late 2001 and are based on a cut-off of 50 grams of silver-equivalent per tonne. Based on this estimate the deposit hosts a measured and indicated resource of 36.1 million tonnes averaging 51.8 grams silver, 0.24% lead and 0.32% zinc. The inferred portion of the resource is pegged at 22.9 million tonnes averaging 42.5 grams silver, 0.20% lead and 0.30% zinc.

The company is examining the economics of mining 2 million tonnes of ore annually, producing 4.5 million ounces of silver, 4,750 tonnes of lead, and 4,500 tonnes of zinc. Low silver prices adversely affect the current economics of the silver-dominant deposit.

Meanwhile, in Chile, Silver Standard is drilling its Challacollo property in Chile and its La Valenciana property in the State of Durango, Mexico.