Silver Standard Resources Inc.: Drilling Defines New Gold-Copper Zone at Snowfieldadmin
Silver Standard Resources Inc. report that diamond drilling in 2008 at its wholly-owned Snowfield project has outlined a new gold-copper zone. The Snowfield property is located 40 kilometers north of the town of Stewart in northern British Columbia and 15 kilometers southeast of Barrick’s high-grade gold-silver mine at Eskay Creek.
The new Snowfield North Zone measures approximately 700 meters by 800 meters and lies 500 meters east of Seabridge Gold’s Mitchell Deposit. Highlights of the 2008 Snowfield North program include:
– MZ-10 which intersected 620 meters of 0.75 grams of gold and 0.17% copper per tonne, including 164 meters of 1.04 grams of gold per tonne and 0.18% copper; – MZ-13 which intersected 425 meters of 0.95 grams of gold per tonne and 0.20% copper, including 117 meters of 1.19 grams of gold and 0.27% copper per tonne; – MZ-20 which intersected 662 meters of 0.86 grams of gold per tonne and 0.18% copper, including 205 meters averaging 1.07 grams of gold per tonne and 0.18% copper; – MZ-23 which intersected 338 meters of 0.91 grams of gold per tonne and 0.18% copper. This hole ended in mineralization and was stopped due to drilling issues;
– MZ-24 which intersected 637 meters 0f 0.55 grams of gold per tonne and 0.14% copper and ended in mineralization.
Silver Standard’s 2008 Snowfield program comprised 16,945 meters of diamond drilling in 31 holes. Further results are pending for holes that tested the continuity of the Snowfield North Zone, which is open to the east and south, with deeper copper-gold intervals encountered in the 2007 Snowfield Zone program.
In addition to assays from these outstanding drill holes, an updated resource estimate for the Snowfield property is anticipated in early 2009. For drill hole locations, see a new map that will be posted in the Snowfield project section of Silver Standard’s web site, www.silverstandard.com.
Previously, Silver Standard had reported a block model resource estimate for the Snowfield Zone. This estimate was prepared by Doug Blanchflower, P.Geo., an independent qualified person, as defined by Canada’s National Instrument 43-101.