VANCOUVER, Feb. 27, 2012 /CNW/ - Silver Predator Corp. (TSX:SPD) (the "Company") is pleased to announce results from its nine hole 2011 drilling program
at the Siltstone Zone of its Rusty Project, located in the Selwyn
Basin, in the central Yukon and adjacent to ATAC Resources Inc.'s
Rakla (RAU) Gold Project. Significant results include:
RM11-003 with 0.74 m of 1,055 g/t silver, 2.95% lead and 5.27% zinc
from a depth of 18.5 m;
RM11-007 with 5.40 m of 1,008 g/t silver, 22.27% lead and 3.88% zinc
from a depth of 50.0 m including 1.59 m of 3,099 g/t silver, 71.27%
lead and 3.32% zinc; and
RM11-009 with 0.66 m of 386 g/t silver, 7.80% lead and 10.17% zinc from
a depth of 102.8 m.
A complete table of results and location maps can be found on the
Company's website at:
The Siltstone Zone
The Siltstone Zone is one of twelve identified distinct mineral showings
located across the Rusty Project. Regional soil sampling was undertaken
in August 2011, and the Siltstone Zone showing was targeted with 1,335
m of diamond drilling in late September and October 2011 to validate
historical drill intercepts and grades and test for the continuation of
mineralization along strike. Previous drilling at the Siltstone Zone
had outlined a high-grade lens of silver rich material within a
northeast trending fracture system that was exposed by historic
trenching over a strike length of 125 m. (1).
The Company's 2011 drilling program succeeded in expanding the Siltstone
Zone along strike to the northeast as well as confirming historic
mineralized intercepts. As a result, the Siltstone Zone now extends for
more than 250 m along strike and remains open in both directions as
well as down dip.
Mineralization at the Siltstone zone consists of a planar "cloud" of
stockwork quartz-carbonate veinlets with galena ± sphalerite ±
chalcopyrite and an irregularly shaped lens of massive galena,
tetrahedrite, freibergite and sphalerite parallel to and truncated by a
fault. The primary Siltstone vein itself strikes northeast and dips
moderately to steeply southeast. Where the vein margins are intact,
stringers of galena and sphalerite are seen extending into the shale
wall-rock. Where the vein is faulted, the mineralization is strongly
oxidized along the fractures and a transition to bleached,
non-mineralized siltstone is sharp.
The Rusty Project is adjacent to the northern edge of ATAC's Rackla
(RAU) Gold project, where numerous carbonate replacement showings as
well as the newly identified Carlin-style mineralization at Osiris
occur. The Project is located 86 km northeast of the Keno Hill Silver
District and comprises 417 claims (8,779 hectares) under option from
Strategic Metals Ltd. and ATAC Resources Ltd. The property is host to
silver, lead and zinc mineralization hosted in veins, breccias and
replacement zones within Upper Proterozoic to Paleozic dolomite and
shale of the Selwyn Basin.
Historical work at the Rusty Property includes mapping, prospecting,
geochemistry, geophysical surveys, trenching and diamond drilling. This
work identified twelve showings within the current boundaries of the
Project. Chip and float samples collected from these showings have
returned maximum results of 8,854.7 g/t silver and 76.36% lead from
veins within limey siltstones, and 542.7 g/t silver, 43.8% lead and
5.83% zinc from veins within dolomite. Where in contact with mafic
sills, the veins carry significant chalcopyrite and tetrahedrite with
values up to 5.32% copper.(2)
Sampling Methodology, Chain of Custody, Quality Control and Quality
All sampling was conducted under the supervision of the Company's
project geologist and the chain of custody from the drill to the sample
preparation facility was continuously monitored. Core was cut at the
Yukon government's new core facility in Whitehorse and one half was
sent to the lab for analysis and the other half retained in the core
box. A blank, quarter core duplicate or certified reference material
was inserted approximately every tenth sample. The samples were shipped
to ACME Laboratories preparation facility in Whitehorse. Excluding
QA/QC, 291 samples were submitted for analysis. ACME was the first ISO
9001 accredited lab in North America, and has maintained its
accreditation since then. The samples were crushed and pulverized. The
pulps were shipped to ACME's certified laboratory in Vancouver where
they were digested by aqua-regia and analyzed for 36 elements by ICP-MS
(method 1DX2). Selected sulfide rich samples and all samples above
detection limits were analyzed by the 4-acid digestion method 7TD.
Silver values above the detection limit for the 7TD method were then
reanalyzed using a 30 gram fire-assay and gravimetric finish.
Data verification of the analytical results includes a statistical
analysis of the duplicates, standards and blanks that must pass certain
set parameters for acceptance to insure accurate and verifiable
results. All assays are reported as drilled intervals. True width is
estimated to be 88% of reported width.
The technical content of this news release has been reviewed and
approved by Farrell Andersen, PGeo, the Company's Yukon Exploration
Manager and a Qualified Person as defined by National Instrument
Report on the Vera, South Rusty Mountain and Siltstone Mineral
Occurrences, prepared for Prism Resources, February 23, 1982 by Dr.
A.J. Sinclair, P. Eng.
Yukon assessment report 093968 by J. Eaton, P. Geo., 1999.
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 provides the ability to maximize shareholder value from the
quality asset base.
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:
William M. Sheriff
Chairman & CEO