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 Assurance
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 43‐101.
|(1)||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.|
|(2)||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.
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