Silver Standard Resources Inc.: Brucejack Drilling Continues Expanding Gold-Silver Zones
Silver Standard Resources Inc.: Brucejack Drilling Continues Expanding Gold-Silver Zones
VANCOUVER, BRITISH COLUMBIA, Sep 8, 2010 (Marketwire via COMTEX News Network) — Silver Standard Resources Inc. (TSX:SSO)(NASDAQ:SSRI) (the “Company”) reports that ongoing diamond drilling at its wholly-owned Brucejack Project continues to expand gold-silver mineralization along strike and to depth at the Galena Hill, West and Bridge Zones. The Brucejack Project is adjacent to the Company’s wholly-owned Snowfield Project located approximately 65 kilometers north-northwest of Stewart, British Columbia.
West Zone
Drilling at the West Zone, located 500 meters north of the Galena Hill Zone, has defined a northern extension measuring approximately 400 meters by 400 meters. Highlights from the current results are holes SU-73 and SU-68, both of which intersected high-grade gold-silver mineralization within envelopes of lower grade material.
— SU-73 intersected 59.5 meters averaging 2.45 grams of gold and 13.2
grams of silver per tonne, including a 9.5-meter uncut interval of 57.63
grams of gold and 40.9 grams of silver per tonne.
— SU-68 intersected 18.5 meters averaging 2.41 grams of gold and 8.8 grams
of silver per tonne, including a 0.5-meter uncut interval averaging
518.0 grams of gold and 244.0 grams of silver per tonne.
Galena Hill Zone
The Galena Hill Zone is host to disseminated gold-silver mineralization together with structurally-controlled high-grade veins. Hole SU-76 was drilled on section with previously reported SU-53 which intersected 1.5 meters with uncut grades of 1,025 grams of gold and 751 grams of silver per tonne. SU-76 intersected two bands of mineralization, with the longer intersection assaying:
— 105 meters averaging 2.27 grams of gold and 20.8 grams of silver per
tonne, including 20 meters with uncut grades of 8.21 grams of gold and
66.2 grams of silver per tonne.
Hole SU-77, a step-out hole on the west side of the zone, intersected 46.5 meters averaging 1.18 grams of gold and 8.9 grams of silver per tonne.
Drilling to date at Galena Hill continues to both expand the zone and to define the continuity of high-grade gold-silver mineralization. Galena Hill is open to east and to depth.
Bridge Zone
The Bridge Zone, which exhibits porphyry-style gold-silver mineralization, has also been expanded to the south and east, and now measures approximately 600 meters by 900 meters, which is approximately three times the area defined in the 2009 drill program. Of the five holes summarized in Table 1, the two best holes are SU-69 and SU-78, whose grades appear to increase with depth. Highlights of these two holes included:
— SU-69 intersected two bands of mineralization, the first with 243 meters
averaging 0.85 grams of gold and 8.8 grams of silver per tonne and the
second interval with 177 meters averaging 1.07 grams of gold and 10.4
grams of silver per tonne. SU-69 ended in mineralization.
— SU-78 also intersected two bands of mineralization, the first with 85
meters averaging 0.57 grams of gold and 3.8 grams of silver per tonne,
and the second interval with 299 meters averaging 0.73 grams of gold and
7.1 grams of silver per tonne.
This drilling is part of an initial 42,000-meter program of infill and step-out drilling on the Brucejack and Snowfield properties, of which 24,000 meters are dedicated to Brucejack. At the Brucejack Project, drilling continues to expand all zones that have been tested and, with a number of targets that will remain untested at the end of this year’s program in October, exploration potential is significant. Drill hole location maps for the two projects are posted on Silver Standard’s web site in the “Projects” section (Snowfield Drill Plan and Brucejack Drill Plan).
Kenneth C. McNaughton, M.A.Sc., P.Eng., Senior Vice President, Exploration, Silver Standard Resources Inc., is the Qualified Person responsible for Silver Standard’s exploration programs.
Silver Standard Resources Inc. is a silver mining company that seeks growth through discovery, the development of its project pipeline, and accretive acquisition opportunities.
