Silver Predator Announces Initial 2011 Exploration Program Results for Taylor Silver Deposit, Ely, Nevada
NEWS RELEASE TSX:SPD July 5, 2011 NR 11‐06 www.silverpredator.com
Silver Predator Announces Initial 2011 Exploration Program Results for Taylor Silver Deposit, Ely, Nevada
Vancouver, British Columbia — July 5: Silver Predator Corp. (TSX:SPD) (the “Company”) announces the initial results of its thirty‐five hole drill program at the Taylor Project, located in White Pine County, Nevada. A total of 3,594 m of angled RC holes were drilled to both infill and expand the existing defined resource, as well as test for higher‐grade silver along near vertical veins beneath the disseminated silver deposit. Highlights from the first twenty‐five holes (see table below) include SPT11‐004 averaging 37 g/t silver over 36.6 m, SPT11‐017 assaying 35.3 g/t silver over 27.4 m, SPT11‐001 averaging 57.8 g/t silver over 18.3 m, and SPT11‐015 assaying 67 g/t silver over 13.7 m.
Overview of the Taylor Project
The Taylor silver deposit is an epithermal, high‐silica, low‐sulfide 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 property includes a National Instrument 43‐101 compliant resource consisting of 1,123,000 tonnes of 85.71 g/t silver measured mineral resource, and 4,712,000 tonnes of 77.83 g/t Ag indicated mineral resource totalling 14.9 million ounces contained silver; along with an additional 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 cut‐off grade: Hester, 2009). The Company's Taylor Project includes rights to a 1,320 ton per day mill with flotation and cyanide leach plants, water rights and approximately 3,900 acres of mining claims located near Ely, Nevada.
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 the Company’s website at www.silverpredator.com.
| Initial 2011 Reverse Circulation Holes at Taylor Project, Ely, NV | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Select Significant Intercepts(1), (2) | |||||||||
| Drill Hole | From | To | Interval | Silver | |||||
| (m) | (m) | (m) | (g/t) | ||||||
| SPT11‐001 | 0.00 | 18.29 | 18.3 | 57.8 | |||||
| including | 3.05 | 10.67 | 7.6 | 84.4 | |||||
| SPT11‐002 | 13.72 | 22.86 | 9.1 | 79.3 | |||||
| including | 16.76 | 21.34 | 4.6 | 127.3 | |||||
| SPT11‐003 | 0.00 | 7.62 | 7.6 | 51.8 | |||||
| SPT11‐004 | 1.52 | 38.10 | 36.6 | 37.0 | |||||
| including | 3.05 | 10.67 | 7.6 | 70.0 | |||||
| SPT11‐007 | 18.29 | 21.34 | 3.0 | 77.0 | |||||
| SPT11‐008 | 6.10 | 19.81 | 7.3 | 67.3 | |||||
| SPT11‐012 | 85.34 | 89.92 | 4.6 | 72.3 | |||||
| SPT11‐014 | 12.19 | 13.72 | 1.5 | 39.0 | |||||
| SPT11‐015 | 0.00 | 13.72 | 13.7 | 67.0 | |||||
| including | 9.14 | 12.19 | 3.0 | 163.5 | |||||
| SPT11‐016 | 30.48 | 32.00 | 1.5 | 190.0 | |||||
| and | 59.44 | 62.48 | 3.0 | 62.0 | |||||
| and | 117.35 | 118.87 | 1.5 | 48.0 | |||||
| SPT11‐017 | 0.00 | 27.43 | 27.4 | 35.3 |
| including | 0.00 | 4.57 | 4.6 | 104.0 |
| SPT11‐019 | 0.00 | 6.10 | 6.1 | 43.8 |
| and | 12.19 | 15.24 | 3.0 | 36.0 |
| SPT11‐020 | 42.67 | 48.77 | 6.1 | 41.5 |
| SPT11‐22 | 7.62 | 9.14 | 1.5 | 69.0 |
| and | 16.76 | 28.96 | 12.2 | 36.0 |
| SPT11‐23 | 54.86 | 60.96 | 6.0 | 65.8 |
| SPT11‐025 | 18.29 | 24.38 | 6.0 | 57.5 |
(1) > 35 g/t Ag
(2) 1 g/t = 1 gram per metric tonne
Laboratory Analysis, Quality Assurance and Quality Control
ALS CHEMEX of Reno, NV and Elko, NV performed all primary lab analyses. Samples received in the lab were first logged‐in and assigned a barcode. The samples were then rotary split prior to crushing to retain a coarse sample for metallurgical work. The remainder was fine crushed to 70% less than 2 mm then split with a riffle splitter with one split pulverized to 85% less than 75 microns. Silver was analyzed by aqua regia digestion and AAS. Samples exceeding 1,000 ppm silver were run for silver by fire assay using a 30 g nominal sample weight with gravimetric finish. Assay results for gold and silver are reported by the lab in ppm units. In public disclosure, gram per metric tonne (g/t) is used, where 1 ppm is equivalent to 1 g/t.
QA/QC procedures followed for the reverse circulation drilling include submittal of chip samples for analysis with a duplicate sample for every twenty samples submitted and also a combination of blank and referee samples included with every sample batch. All assay numbers are reported as un‐cut and all intercepts are reported as drill width and are not to be interpreted as true widths.
David R. Hembree, PGeo, Nevada 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.
About Silver Predator
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. The Company controls the Taylor silver deposit in Ely, Nevada, which hosts a NI 43‐101 compliant mineral resource estimate, as well as the highly prospective Plata project in Yukon. 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 additional information:
Silver Predator Corp.
Investor Relations (604) 648‐4653 [email protected] 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.