BURLINGTON, ON, April 7 /CNW/ - Silver Shield Resources (TSXV: SSR) is pleased to announce that it has begun a minimum 1,200 metre diamond
drilling program at its Welsh Silver Mine in the Elk Lake , Ontario.
The drill is presently located to the south of Silver Claim Lake and
later it will be moved to the Welsh Silver Mine. Due to the close
proximity of the drilling and shallow nature of the Welsh Mine area
mineralization the company expects holes to be drilled in 100-200 metre
lengths. Phase II drilling completed by the company previously
encountered mineralized vein swarming to the south east of the mine. A
subsequent small stripping program that was done in the area located
these swarms on surface and the company is anxious to drill this area.
With new staking completed in the area by Silver Shield, the Company
feels it has secured its position in this area. Upon geological review,
certain targets hope to be identified on these new claims and a small
number of exploratory drill holes completed.
To aid in the companies already large data base of the mine, a survey of
the area around the mine and to the east of the mine is being
commissioned. The survey report will identify old markings and
elevations , relevant points including the Welsh shaft, shaft southeast
of Welsh main shaft the adit to the Welsh Silver Mine and all diamond
drill holes. With this survey it is felt the Company can more
accurately locate the workings and mineralized areas of the mine on
previous technical reports and aid in the new drilling.
Tim D. Towers commented "We are pleased to be back in the Historic
Producing "Silver Belt of Ontario". The Welsh Silver Mine and
surrounding area has a rich heritage and the company feels in these
times of escalating silver, Elk Lake is the place to be. With an
expanded claim package around the Welsh Mine, and drilling by Amador
Gold (AGX-TSX-V) ongoing on their property in close proximity to Silver
Shield, we are enthused and excited for this area play. Our
shareholders have been patient and supportive and we look forward to
rewarding their patience. I urge all investors to review our original
43-101 technical report on the Welsh Silver Mine. After this drill
campaign we will be up-dating our original 43-101."
About the Former Producing Welsh Silver Mine
In 1908, The Welsh Silver Mine shaft was sunk on the #1 vein, to 160
feet and levels established at 75' and 150'. On the 75 foot level five
veins were developed, Ag-rich lenses were outlined on these veins, but
were never mined. In 1963 Welsh Silver Mines removed a bulk sample from
the #4 vein that had an average grade of 22 oz Ag/ton.
Approximately 700 metres southeast of the Welsh Shaft and south of
Silver Claim Lake another set of veins occur but in a north-south
direction. In 1980 and 1982, 25,568 feet of surface drilling was
performed on the Cameron Mine property immediately north of the SSR
property. An underground ramp was developed in a southerly direction to
the SSR claim boundary by Teck-Lacana in 1983 to prepare the property
for production, along with a total of 3,885.5 feet of underground
drilling. These veins were shown to extend onto the SSR ground and have
been the subject of drilling by both Teck-Lacana and SSR. Recent
diamond drilling by Silver Shield has intersected numerous high-grade
silver vein swarms e.g. SCL-08-02 (0.15m @ 2,659.5g/t Ag), SCL-08-09 (0.20m @ 2,589.2 g/t Ag) over a 200+m strike length tracing numerous veins south and extending
below the thin Cobalt sedimentary cover. The southern extensions of
these veins are now covered by the expanded property.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined on the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Company Management, which takes full responsibility for content,
prepared this news release. In order to proceed fully with the
Company's exploration and acquisition plans, additional funding may be
necessary and, depending on market conditions, this funding may not be
forthcoming on a schedule or on terms that facilitate the Company's
SOURCE Silver Shield Resources Corp.
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For further information please visit www.silvershieldresources.com or contact:
Silver Shield Resources Corp.