Silver Predator Cuts 42.67 m of 100.25 g/t Silver at Taylor Silver Deposit, Ely, Nevada
NEWS RELEASE TSX: SPD August 17, 2011 NR 11‐09 www.silverpredator.com
Silver Predator Cuts 42.67 m of 100.25 g/t Silver at Taylor Silver Deposit, Ely, Nevada
Vancouver, British Columbia, August 17, 2011: Silver Predator Corp. (TSX:SPD) (the “Company”) is pleased to announce results of the final 10 holes from its thirty‐five hole drill program at the Taylor Project, located in White Pine County, Nevada. A total of 3,528 meters of angled RC holes were drilled to test for higher grade feeder veins as well as to expand the current mineral resource.
Significant results include:
- SPT11‐027 with 42.67 m of 100.25 g/t silver from a depth of 67.05 m
- SPT11‐031 with 7.62 m of 104.2 g/t silver from a depth of 4.57 m; and 6.1 m of 111.75 g/t
silver from a depth of 44.19 m
- SPT11‐034 with 27.43 m of 96.5 g/t silver from surface
- SPT11‐035 with 13.72 m of 134.78 g/t silver from a depth of 38.1m
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 NI 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 silver 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 cutoff grade: (Hester, 2010).
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
2011 Drill Program
The 2011 drilling program extended stratabound silver mineralization to the northeast of the currently defined resource and extended the mineralization at depth and along strike in the Bishop and Argus pit areas. Notably, holes SPT11‐026 and SPT11‐027 both bottomed in mineralization. The Company plans to remodel the existing data on Taylor, to assist in future drill programs with the goal of preparing an updated resource estimate in Q2, 2012.
The next phase of drilling will concentrate on extending the stratabound northeast zone as well as testing feeder structures beneath the Argus and NE pits. In addition, the Company plans to conduct first phase drilling of the Chipps and Antimony Pit prospects, both of which feature jasperoid hosted gold‐ antimony mineralization lying adjacent to the existing silver resources at Taylor.
The Chipps deposit was drilled by Alta Gold and Nerco in the early 1990’s and a small, non‐NI 43‐101 compliant resource was defined by over fifty shallow RC drill holes. The gold occurs at the contact between the Joanna Limestone and the underlying Pilot shale, the same host rocks as seen at numerous mines in east‐central Nevada including Bald Mountain, Easy Junior and Pan. The favorable horizon for the jasperoid hosted silver deposits at Taylor has not been tested at the Chipps and Antimony prospects, and may host additional mineralization beneath the gold bearing stratigraphy.
| Final Results 2011 Diamond Drill Holes at Taylor Project, Ely, NV | ||||||||
|---|---|---|---|---|---|---|---|---|
| Select Significant Intercepts | ||||||||
| Drill Hole | From | To | Interval (m) | Silver | ||||
| (m) | (m) | (g/t) | ||||||
| SPT11‐026 | 44.19 | 64.00 | 19.81 | 58.92 | ||||
| and | 91.44 | 108.20 | 16.76 | 43.73 | ||||
| SPT11‐027 | 38.10 | 54.86 | 16.76 | 51.27 | ||||
| and | 67.05 | 109.72 | 42.67 | 100.25 | ||||
| Including | 83.82 | 97.53 | 13.72 | 153.33 | ||||
| SPT11‐028 | 39.62 | 48.77 | 9.14 | 44.67 | ||||
| and | 88.39 | 94.48 | 6.10 | 76.50 | ||||
| SPT11‐029 | 53.34 | 60.96 | 7.62 | 48.60 | ||||
| SPT11‐030 | 10.67 | 22.86 | 12.19 | 54.27 | ||||
| SPT11‐031 | 4.57 | 12.19 | 7.62 | 104.20 | ||||
| and | 18.29 | 25.91 | 7.62 | 56.60 | ||||
| and | 44.19 | 50.29 | 6.10 | 111.75 |
| SPT11‐032 | 50.29 | 54.86 | 4.57 | 48.00 |
| SPT11‐033 | 6.10 | 9.14 | 3.05 | 41.00 |
| SPT11‐034 | 0.00 | 27.43 | 27.43 | 96.50 |
| and | 27.43 | 36.57 | 9.14 | INS |
| and | 36.57 | 39.62 | 3.05 | 53.50 |
| SPT11‐035 | 3.05 | 28.95 | 25.91 | 66.41 |
| and | 38.10 | 51.81 | 13.72 | 134.78 |
Notes: 1 troy ounce per short ton = 34.2857143 grams per metric tonne 1 metre = 3.28 feet 1 g/t = 1 gram per metric tonne INS = insufficient sample/no recovery mine workings
Sampling Methodology, Quality Control and Assurance
Samples were analyzed by ALS Chemex in Reno and Elko, Nevada. Refer to the Company’s news release dated July 5, 2011 for a complete discussion of sampling methods, quality control and assurance.
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 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 additional information:
William M. Sheriff Chairman & CEO
(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.