Silver Standard expands zone at Pitarrilla (June 05, 2006)

Vancouver – The first deep hole drilled to test the Breccia Ridge zone has intersected silver mineralization with associated base metals over 502 metres (1,647 feet) at the Pitarrilla project in northern Durango State, Mexico. The advanced project is held by Silver Standard Resources (SSO-T, SSRI-Q), which has three rigs on site carrying out step-out and infill drilling programs aimed at expanding and upgrading existing resources.

In early March, the company reported that Pitarrilla hosted an indicated resource of 18.6 million tonnes grading 112.4 grams silver per tonne, plus an inferred resource of 32.4 million tonnes of 124.8 grams silver, based on a 40-grams silver cutoff grade.

Hole PD-128, the deepest hole drilled to date, averaged 63.4 grams (1.8 oz.) over the 502-metre intersection, starting at 221.9 metres and ending in mineralization. The hole returned four mineralized intervals (with base metal values increasing at depth): 194.1 metres averaging 81.9 grams silver per tonne; 60.6 metres averaging 111.8 grams silver, 1.11% zinc and 0.48% lead; 41.6 metres of 20.4 grams silver and 3.23% zinc; and 46.1 metres of 72.8 grams silver, 0.77% zinc, 0.4% lead, and 0.1% copper.

Silver Standard notes that the deep hole expanded the Breccia Ridge zone to the east by more than 200 metres. The results are described as having potential to “significantly increase” the existing project resource in all directions, and at depth. More holes are planned to test the full extent of the zone.

The company also reported results from several infill drill holes at the Breccia Ridge zone. Hole PD-97 collared 200 metres west of PD-128 intersected 45.7 metres averaging 129.8 grams silver. Hole PD-108, collared 280 metres south of PD-128, intersected two mineralized intervals; 40.8 metres averaging 113.9 grams silver, and 62.5 metres averaging 80.6 grams silver.

Silver Standard holds a sizable portfolio of silver projects in various parts of the world, including the advanced Pirquitas project in Argentina’s Jujuy Province, and the Bowdens project in Australia.