SILVER MOUNTAIN RESOURCES INC. /NOT FOR DISTRIBUTION TO
Highlights:
- 1.65m @ 128.1 g/t Ag, 0.21% Cu, 7.70% Pb, 10.88% Zn, and 0.15 g/t Au
- 2.17m @ 173.0 g/t Ag, 0.11% Cu, 1.73% Pb, 4.37% Zn, and 0.67 g/t Au
- 1.18m @ 133.4 g/t Ag, 0.16% Cu, 8.98% Pb, 9.62% Zn, and 0.12 g/t Au
- 1.40m @ 160.0 g/t Ag, 0.40% Cu, 4.84% Pb, 5.96% Zn, and 0.16% Au
Assays have been received for 299 rock channel samples taken along 175 m of the Sublevel 735-2, part of the 390 m level of the Matacaballo structure (Fig.1 to 3). A zone of well-developed mineralization in the Matacaballo Vein is exposed over 87 m along the western part of sublevel 735-2. Further east, the vein displays an irregular thickness, with lower metal contents. The length of the mineralized shoot on this sublevel and the reported metal grades show a close correlation to the results of the sublevel 735-1 located approximately 20 m below (see previously published release,
Samples were taken using an electric percussion hammer to produce a channel perpendicular across the veins and mineralized structures. By cutting a continuous channel approximately 3-5 cm deep by 10 cm wide, the channel samples are essentially equal to a drill core in their significance for future resource estimation. Where the structure is exposed along the back of the drift, channels were cut across the vein systematically every 4 m. Channel lengths range between 0.30 m and 3.58 m, not including samples collected from the adjacent wall rocks.
The underground sampling results from this part of the Matacaballo Vein confirm the continuity of well-developed polymetallic mineralization within the structure, with significant concentrations of silver (Ag), lead (Pb), zinc (Zn), gold (Au) and copper (Cu). To highlight the continuity of this vein system, the grades and widths of individual channels (Tab.1) were averaged over the 87 m-long well-mineralized shoot exposed in the western half of the sublevel. Weighted metal grades reached 71.1 g/t Ag, 2.34% Pb, 4.81% Zn, 0.14% Cu and 0.35 g/t Au with an average channel width of 1.59 m. Individual Ag assays returned a maximum value of 621 g/t Ag. A total of 17 individual rock channel samples assayed over 0.5 g/t Au, with a maximum value of 7.64 g/t Au.
The Matacaballo structure exhibits hydrothermal brecciation, irregular banding, and crustiform textures typical of intermediate sulphidation veins. Sulphide minerals are present as semi-massive pods, fine veinlets, or in disseminated form, within a matrix composed of several generations of quartz, with minor rhodochrosite (Fig.4). Galena, sphalerite, silver sulpho-salts, lesser disseminated chalcopyrite, and minor pyrite were encountered. In the hanging as well as the foot wall, the central Matacaballo vein is accompanied by 20 to 50 cm wide splays, which show brecciation and contain sulphides as matrix or in cockade textures around argillized or silicified wall rock clasts with disseminated pyrite.
The following table provides more detail regarding the channel sample results from sublevel 735-2 of the Matacaballo Vein structure.
On Behalf of the Board of Directors of
The scientific and technical information contained in this news release has been reviewed and approved by
For additional information in respect of the
Silver Mountain's subsidiary Sociedad Minera Reliquias S.A.C. owns 100% of its concessions and holds more than 27,000 hectares in the district of Castrovirreyna, Huancavelica,
Silver Mountain follows systematic and rigorous sampling and analytical protocols which meet industry standards. These protocols are summarized below.
All channel samples were collected with an electric percussion hammer and do not exceed 1.0 m in length. Channels are broken at obvious geologic boundaries to correctly separate rock types and mineralization styles. The sample bags were sealed with a plastic zip tie and identified with a unique sample number, pending shipment to a certified laboratory sample preparation facility. Samples are sent by batch to the ALS laboratory in
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to Silver Mountain's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Silver Mountain's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the factors set forth under "Forward-Looking Statements" and "Risk Factors" in the Company's final prospectus dated
SOURCE
© Canada Newswire, source
