VANCOUVER, April 5 /CNW/ - Silver Predator Corp. (TSX:SPD) ("Silver Predator" or the "Company") is pleased to announce that drilling has commenced at its Taylor Project, located in White Pine County, Nevada. The Taylor Property includes a National Instrument ("NI") 43-101 compliant resource of 14.9 million ounces silver from measured and indicated mineral resources of 5.84 million tonnes grading 79.2 g/t silver and 1.9 million ounces silver from an inferred mineral resource of 687,000 tonnes grading 87.1 g/t silver (using a 41.1 g/t silver cutoff grade: Hester, 2009). The 2011 Taylor Project drill program is planned to include at least 31 reverse circulation angle holes totaling over 2,900 m.
The drilling will focus on the higher grade feeder veins as identified in Golden Predator Corp.'s 2009 program which included 13.7 m of 147.9 g/t silver from a depth of 39.6 m in hole GPT006 and 16.8 m of 196.8 g/t silver from a depth of 7.6 m in hole GPT008.(1) The 2009 drilling confirmed the extension of the higher grade veins mined in the Argus Mine, at the south end of the open pit deposit, with steeply dipping feeder structures traversing more than 900 m along the eastern edge of the known open pit resource. The current program is planned to test more than 600 m along the strike of this higher grade feeder zone. The majority of the current resource has been modeled using vertical holes into the stratabound replacement mineralization and did not consider the higher grade feeder structures that are the subject of the current drill program.
The Taylor Project
Silver Predator has an option to acquire a 100% interest in 261 unpatented mining claims and 4 patented mining claims located near Ely, Nevada in White Pine County, known as the Taylor Property and a 50% interest in the Taylor Mill Facility (for details please refer to the Company's news release dated March 14, 2011).
The Taylor silver deposit is an epithermal, high-silica, low-sulphide replacement deposit hosted by folded and faulted Devonian carbonate rocks of the Pilot Shale, Guilamette, and Joana formations intruded by Tertiary rhyolite dikes and sills. The Taylor Mill Facility comprises five mill site claims and a 1,200-tonne-per-day mill complex including primary, secondary and tertiary crushers, eight ball mills, a leaching and counter-current decant thickening circuit, a flotation circuit, a maintenance shop, an assay office, an electrical substation and a mine office.
Additional information on the historic drilling and resource estimates can be found in the NI 43-101 compliant technical report on the Taylor silver project, prepared by Michael Hester and dated December 14, 2010. The technical report is posted on SEDAR, and can also be found on our website at www.silverpredator.com.
David R. Hembree P.Geo., Exploration Manager, is the Qualified Person as defined under National Instrument 43-101, overseeing Silver Predator's Taylor exploration programs and has reviewed Information presented on QA/QC procedures and technical aspects of the drilling results in this press release.
(1) June 23, 2009 News Release TSX-V: GPD
About Silver Predator Corp.
Silver Predator Corp.'s corporate mandate is to explore and develop commercially viable silver resources in the leading silver districts of Yukon, Canada and Nevada, USA. Working within stable geopolitical jurisdictions, Silver Predator is focused on silver-dominant bulk tonnage and/or high grade opportunities. Proven management plus access to unparalleled geological talent in the Yukon and extensive experience in Nevada provide the ability to maximize shareholder value from the quality asset base. For more information on Silver Predator Corp. please visit our website at www.silverpredator.com.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties that could cause actual results and Silver Predator's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Silver Predator assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
SOURCE Silver Predator Corp.
For further information: Silver Predator Corp., Investor Relations: (604) 648-4653, firstname.lastname@example.org