SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : SSRIF Silver Standard Resources
SSO 81.99+0.3%Jun 13 4:00 PM EDT

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Claude Cormier who wrote (390)1/12/2000 10:58:00 PM
From: Archie Meeties   of 403
 

Silver Standard Intersects Bonanza Grades At Argentina Project
TUESDAY, JANUARY 11, 2000 6:42 PM
- Canadian Corporate News

VANCOUVER, BRITISH COLUMBIA--(Canadian Corp News, January 11, 2000)--Silver Standard Resources Inc. is pleased to report the intersection of bonanza and high-grade assays from drilling completed in December 1999 at the 225 km (square) Manantial Espejo silventina. Seventeen diamond drill holes totalling 1,416 metres were completed on six veins. Most holes successfully tested new targets and results, together with further drilling, are expected to add to the previously reported resource of 89.3 mil lion ounces of silver-equivalent.

The best results included T-124 which intersected over 1.2 kilograms per tonne of silver-equivalent over 5.9 metres (or 36.0 ounces per ton over 19.4 feet), including 12.7 kilograms per tonne over 0.5 metres (or 372 ounces per ton over 1.7 feet); T-13 1 which intersected over 2.9 kilograms of silver-equivalent per tonne over a width of 4.1 metres (or 86.4 ounces per ton over 13.5 feet); and T-132 which intersected over 1.5 kilograms of silver-equivalent per tonne over a width of 1.2 metres (or 45.2 ouncesper ton over 3.9 feet).

Veta Karina is the only vein system that was previously drilled. In the most recent program, extensions and a zone parallel to Veta Karina were tested by six drill holes. Intersections included several high-grade continuations of known mineralizatio n and discovery of a new parallel vein, the 9K Vein, with enriched oxide mineralization. Holes T-123 and T-124 confirmed the continuity of Veta Karina mineralization at depth. T-123 intersected 902 grams of silver and 8.6 grams of gold over 2.0 metre s (40.2 ounces of silver-equivalent per ton). T-124 intersected 557 grams of silver and 8.2 grams of gold over 3.3 metres (29.4 ounces of silver-equivalent per ton). The western extension of Veta Karina was tested by T-125 and T-126. Although both h

oles intersected low-grade mineralization at shallow depths, they confirm that mineralization extends westward and analysis of host rocks and mineralization indicates strong potential for high-grade mineralization at depth.T-124 also intersected a p reviously unrecognized parallel zone, the 9K Vein, which averaged 913 grams of silver and 5.83 grams gold per tonne over 5.9 metres (36.0 ounces of silver-equivalent over 19.4 feet). This included a 0.5 metre interval grading 9,350 grams of silver and 61.3 grams of gold per tonne (371.6 ounces of silver equivalent per ton over 1.7 feet). Step-out holes drilled 30 metres on either side of T-124 cored leached vein material. T-138, the western step-out, intersected 0.7 metres ofremnant mineralizatio

n grading 315 grams of silver and 2.1 grams of gold per tonne (12.6 ounces of silver-equivalent per ton over 2.3 feet). The 9K Vein remains open at depth.The 1999 drilling program also targeted five other new veins. Veta Sol is located 200 metres n orth of Veta Karina and has the same apparent structural control. Three holes tested this new target of which T-127 and T-129 returned moderate to high-grade mineralization over narrow widths. Silver grades appear to improve with depth and interpreta tion suggests good potential for improvement in vein thickness and grades below these intersections. Maria Este was tested with a single hole which intersected a1.6-metre vein with moderate grades. Additional field work will be required to assess the

significance of this hole.Veta Marta, located two kilometres northeast of Maria Este, is a new vein which was tested with a single drill hole. T-131 intersected several high-grade zones, including a 4.1 metre intersection averaging 1,160 grams of s ilver and 32.7 grams of gold per tonne (86.4 ounces of silver-equivalent over 13.5 feet). Within this intersection was a 1.3 metre sample which graded 2,566 grams of silver and 73.1 grams of gold per tonne (192 ounces of silver-equivalent over 4.3 fee

t). Veta Martha has been mapped on surface for several hundred metres. Veinlet and quartz-filled breccia along strike of the vein indicate potential for an additional one kilometre of mineralization.The Candelaria Extension is another newly discove red zone on the western side of the large property. Two holes tested high-grade mineralization found on surface. T-132 intersected a 1.2 metre-wide vein grading 1,537 grams of silver per tonne (45.2 ounces of silver-equivalent per ton over 3.9 feet).

Additional work will follow up this intersection.The Candelaria Zone was tested with four drill holes. Most of these holes intersected narrow bands of moderate to high-grade mineralization, indicating that the zone pinches below surface. A struc

tural analysis is planned to determine if there is potential for the vein to flatten and widen with depth. Samples were prepared by Bondar-Clegg & Co. Ltd. in Mendoza, Argentina and sent for assay at its lab in Santiago, Chile.This program clearly d emonstrated the property's significant potential to host additional veins with high-grade mineralization. It also showed that some veins contain small tonnages of bonanza-grade supergene mineralization. Future work programs will focus on delineating these zones as well as identifying additional targets.

Silver Standard has an option to acquire 50% of Black Hawk Mining Inc.'s share in the Manantial Espejo project located in Santa Cruz province, Argentina. It is currently held by a wholly-owned subsidiary of Black Hawk Mining Inc. (80%) and Barrick Go ld Corporation (20%). On completion of a feasibility study, Barrick must elect to either sell its 20% interest to Black Hawk's subsidiary or increase its interest to 40%, based on predetermined prices. Silver Standard is operator until completion of the feasibility study.

Silver Standard Resources Inc. is a silver resource company with projects in Australia, Argentina, Bolivia, the United States, Mexico and Peru. Silver Standard's advanced projects, owned and under option, have a combined total exceeding 300 million o unces of silver and silver-equivalent resources.

A map showing the location of recent drill holes, is available by fax on request to (604) 689-3846, local 212. See accompanying page for a tabular summary of drill results.To receive Silver Standard's news releases by e-mail, contact Investor Rela

tions at invest@silverstandard.com, or sign up at the company's web site at www.silver-standard.com.The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties which could cause actu al results to vary considerably from these statements. The risks and uncertainties include those described in Silver Standard's SEC Form 20F as amended.





Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext