VANCOUVER, British Columbia, Aug. 8, 2016 /PRNewswire/ -- Silver Standard Resources Inc. SSRI SSO ("Silver Standard") provides an update on its exploration activities at its Marigold mine in Nevada, U.S. and its Seabee Gold Operation in Saskatchewan, Canada.
Highlights:
- At the Marigold mine, we conducted Mineral Resource development drilling in the Mackay North area and the Valmy property with the objective to convert Mineral Resources to Mineral Reserves. Highlighted results include:
- At HideOut, drillhole MR6270 intersected 1.96 g/t gold over 93.0 meters from 144.8 meters below surface;
- At Valmy, drillhole MR6283 intersected 1.65 g/t gold over 59.4 meters from 91.4 meters below surface; and
- At Terry Zone North, drillhole MR6185 intersected 1.56 g/t gold over 39.6 meters from 176.8 meters below surface.
- Completed the Assay Program at the Marigold mine with results consistent with our 2015 results that contribute to a longer dated production and cost outlook for the Marigold mine later in the third quarter.
- The Seabee Gold Operation reports positive exploration drill results from an area outside existing Mineral Resources down plunge from the Santoy 8A production area. Highlighted results include:
- At Santoy 8A, drillhole SUG-16-912 intersected 39.06 g/t gold over 2.7 meters of true width;
- At Santoy 8A, drillhole SUG-16-908 intersected 15.38 g/t gold over 6.0 meters of true width; and
- At Santoy 9A, drillhole JOY-16-701 intersected 52.80 g/t gold over 2.1 meters of true width, as previously reported.
Paul Benson, President and CEO said, "We are pleased with the positive exploration results at the Mackay North area at Marigold, where we continue to encounter mineralization with higher gold grades outside current Mineral Reserves. In addition, we are focused on driving exploration efforts at the Valmy property to add to and convert Mineral Resources. We also look forward to providing a revised outlook for the Marigold mine in the third quarter, based on our Assay Program, operational improvements and exploration results."
"At the Seabee Gold Operation, exploration results in a new mineralized area demonstrate continuity and potential to add to our Mineral Resources at the Santoy mine complex. The ultimate goal of our work at both operations is mine life extension and improved operating margins."
Marigold mine, U.S.
Exploration activities in the second quarter of 2016 at the Marigold mine focused on drilling at each of the HideOut, Terry Zone North ("TZN") and 8 South pit extension ("8SX") areas and on the adjacent Valmy property. The objective of these drilling activities is to convert Mineral Resources to Mineral Reserves and to expand Mineral Resources, in certain instances. Two track–mounted rigs completed 15,575 meters of reverse circulation drilling in 73 drillholes on our targets, where previous results show potential for Mineral Resource additions. At TZN, mineralization is open to the south, while the 500-meter long corridor between the HideOut and the 8SX areas has only two drillholes and remains open to the north and south, respectively.
Figure 1 shows a plan map of drilling activities during the second quarter. Drill results demonstrate the presence and continuity of higher-grade structures with additional drillhole results pending. The best result from this period's drilling program was drillhole MR6270, which intersected 1.96 g/t gold over 93.0 meters, including 5.01 g/t over 32.0 meters at HideOut. At TZN, the best result was drillhole MR6185, which intersected 1.56 g/t over 39.6 meters, including 3.92 g/t over 13.7 meters. Table 1 lists all drill results for the second quarter of 2016, while Table 2 lists the collar coordinates and drillhole lengths.
Exploration results continue to illustrate the potential to expand the existing Mineral Resources estimate. Indicated Mineral Resources at HideOut and the 8 South areas totaled 350,000 ounces of gold as at December 31, 2015.
Valmy Property
Drilling at the Valmy property, including the Valmy and Mud pits, commenced in May 2016, with 3,275 meters of reverse circulation drilling in 17 drillholes completed during the second quarter. The most notable drill result is drillhole MR6283, which intersected 1.65 g/t gold over 59.4 meters from 91.4 meters below surface. The Valmy mineralization is open to the south, and in the second half of 2016 we expect to drill outside of the current pit areas, including the eastern extension of the Basalt pit mineralization.
Indicated Mineral Resources at the Basalt pit, on Marigold tenures, comprised 80,000 ounces of gold, while Inferred Mineral Resources at the Valmy property totaled 300,000 ounces of gold as at December 31, 2015, respectively.
Assay Program
During the second quarter 2016, we assayed 27,079 samples pursuant to our assay program (the "Assay Program") initiated in 2015. This was completed during the quarter with a total of 52,600 samples assayed in 2016. Results of the Assay Program in 2016 are consistent with results achieved in 2015 and provide better spatial definition of the lower grade portions of the Mackay pit.
The results of the Mackay North area exploration activities and the Assay Program are being applied, where applicable, to the Marigold life of mine plan. Based on this work and considering other improvements to the operation, including the addition of three haul trucks, we expect to disclose longer dated production and cost outlook for the Marigold mine later in the third quarter of 2016.
Seabee Gold Operation, Canada
For 2016, the operation planned 65,000 meters of underground drilling and 18,000 meters of surface drilling to increase and convert Mineral Resources. During the second quarter, exploration activities have focused on the Santoy mine complex.
Since March 2016, a total of 67 drillholes have been drilled to infill the Santoy Gap 9A, 9B and 9C mineralized quartz vein structures. During the first half of 2016, 29,775 meters were drilled underground at the Santoy mine complex for infill and exploration purposes. We drilled six holes in a new area down plunge from the Santoy 8A structure that returned gold grades above Mineral Resource cut-off grade, and intend to conduct further drilling in this area. Figure 2 shows the Santoy mine complex drill results relative to its Mineral Resources estimate as at December 31, 2015, projected onto a longitudinal section. Table 3 lists all drill results for the Santoy mine complex received in the second quarter of 2016.
At the Seabee mine, five holes of a planned seven-hole drill program were completed on the 15 Vein target, which is a mineralized structure offset along the 19 shear. At the Carr target, located near surface, four kilometers along strike to the north from the Santoy mine complex, we drilled approximately 2,500 meters in nine drillholes over a two-kilometer strike length. At the Herb West target, located 2,200 meters west-north-west of the Seabee mine, we drilled approximately 1,130 meters in four drillholes. Results from drillholes at these three targets revealed quartz-vein structures with gold-bearing mineralization and warrant follow-up drilling.
Next Steps
During the second half of 2016 at the Seabee Gold Operation, our focus will be on infill drilling at the Santoy Gap to convert Inferred Mineral Resources to Mineral Reserves. At surface, our drilling focus for the second half will be on exploring laterally and down plunge to extend mineralization at the Santoy mine complex.
All drilling and exploration results will be included in an updated estimate for the Seabee Gold Operation reported in our annual 2016 Mineral Reserves and Mineral Resources statement to be published in the first quarter of 2017.
Table 1. Drillhole results from the second quarter of the 2016 exploration drill program at the Marigold mine, Nevada, U.S.
|
Hole ID |
From |
To |
Width |
Gold Grade |
Area/Comment |
|
MR6184 |
Hole Abandoned | ||||
|
MR6185 |
108.2 |
112.8 |
4.6 |
0.21 |
TZN |
|
128.0 |
141.7 |
13.7 |
0.15 |
||
|
176.8 |
216.4 |
39.6 |
1.56 |
||
|
176.8 |
190.5 |
13.7 |
3.92 |
(including) | |
|
216.4 |
222.5 |
6.1 |
0.46 |
||
|
233.2 |
242.3 |
9.1 |
0.19 |
||
|
MR6217 |
0.0 |
89.9 |
89.9 |
0.12 |
Hideout |
|
169.2 |
225.6 |
56.4 |
0.22 |
||
|
242.3 |
245.4 |
3.0 |
0.19 |
||
|
MR6220 |
0.0 |
94.5 |
94.5 |
0.13 |
8Sx Mineralized Stockpile |
|
MR6222 |
0.0 |
64.0 |
64.0 |
0.10 |
8Sx Mineralized Stockpile |
|
MR6223 |
0.0 |
103.6 |
103.6 |
0.10 |
8Sx Mineralized Stockpile |
|
MR6225 |
0.0 |
76.2 |
76.2 |
0.08 |
HideOut |
|
190.5 |
214.9 |
24.4 |
1.18 |
||
|
202.7 |
214.9 |
12.2 |
2.19 |
(including) | |
|
216.4 |
217.9 |
1.5 |
0.57 |
||
|
222.5 |
234.7 |
12.2 |
0.36 |
||
|
246.9 |
249.9 |
3.0 |
0.12 |
||
|
MR6226 |
0.0 |
99.1 |
99.1 |
0.15 |
HideOut |
|
298.7 |
301.8 |
3.0 |
0.23 |
||
|
MR6227 |
0.0 |
109.7 |
109.7 |
0.12 |
8Sx Mineralized Stockpile |
|
MR6228 |
134.1 |
163.1 |
29.0 |
0.26 |
TZN |
|
189.0 |
210.3 |
21.3 |
1.75 |
||
|
198.1 |
210.3 |
12.2 |
2.69 |
(including) | |
|
210.3 |
228.6 |
18.3 |
0.19 |
||
|
MR6229 |
0.0 |
79.2 |
79.2 |
0.10 |
HideOut |
|
150.9 |
201.2 |
50.3 |
1.27 |
||
|
182.9 |
195.1 |
12.2 |
2.72 |
(including) | |
|
MR6230 |
125.0 |
167.6 |
42.7 |
0.69 |
TZN |
|
140.2 |
147.8 |
7.6 |
2.16 |
(including) | |
|
173.7 |
199.6 |
25.9 |
0.61 |
||
|
MR6231 |
97.5 |
163.1 |
65.5 |
0.35 |
TZN |
|
121.9 |
126.5 |
4.6 |
2.21 |
(including) | |
|
176.8 |
184.4 |
7.6 |
0.41 |
||
|
184.4 |
199.6 |
15.2 |
0.16 |
||
|
MR6232 |
88.4 |
172.2 |
83.8 |
0.51 |
TZN |
|
149.4 |
157.0 |
7.6 |
2.06 |
(including) | |
|
172.2 |
182.9 |
10.7 |
0.99 |
||
|
182.9 |
199.6 |
16.8 |
0.65 |
||
|
MR6233 |
0.0 |
73.2 |
73.2 |
0.15 |
HideOut |
|
73.2 |
86.9 |
13.7 |
0.13 |
||
|
106.7 |
112.8 |
6.1 |
0.19 |
||
|
MR6234 |
0.0 |
74.7 |
74.7 |
0.07 |
HideOut |
|
74.7 |
86.9 |
12.2 |
0.28 |
||
|
102.1 |
105.2 |
3.0 |
0.14 |
||
|
121.9 |
126.5 |
4.6 |
0.64 |
||
|
MR6235 |
0.0 |
74.7 |
74.7 |
0.13 |
HideOut |
|
93.0 |
94.5 |
1.5 |
0.13 |
||
|
MR6236 |
0.0 |
68.6 |
68.6 |
0.10 |
HideOut |
|
80.8 |
96.0 |
15.2 |
0.48 |
||
|
MR6237 |
44.2 |
47.2 |
3.0 |
0.13 |
TZN |
|
74.7 |
117.3 |
42.7 |
0.22 |
||
|
135.6 |
179.8 |
44.2 |
0.75 |
||
|
179.8 |
198.1 |
18.3 |
0.95 |
||
|
MR6238 |
88.4 |
100.6 |
12.2 |
0.25 |
TZN |
|
121.9 |
128.0 |
6.1 |
0.27 |
||
|
138.7 |
167.6 |
29.0 |
0.38 |
||
|
155.4 |
158.5 |
3.0 |
1.87 |
(including) | |
|
176.8 |
185.9 |
9.1 |
0.50 |
||
|
MR6239 |
97.5 |
135.6 |
38.1 |
0.15 |
TZN |
|
147.8 |
164.6 |
16.8 |
0.89 |
||
|
147.8 |
155.4 |
7.6 |
1.70 |
(including) | |
|
MR6240 |
67.1 |
70.1 |
3.0 |
0.19 |
TZN |
|
106.7 |
149.4 |
42.7 |
0.85 |
||
|
112.8 |
117.3 |
4.6 |
3.99 |
(including) | |
|
224.0 |
233.2 |
9.1 |
0.25 |
||
|
MR6241 |
93.0 |
103.6 |
10.7 |
0.23 |
TZN |
|
128.0 |
161.5 |
33.5 |
0.39 |
||
|
MR6242 |
106.7 |
109.7 |
3.0 |
0.13 |
TZN |
|
MR6243 |
176.8 |
182.9 |
6.1 |
0.58 |
TZN |
|
190.5 |
201.2 |
10.7 |
0.95 |
||
|
201.2 |
214.9 |
13.7 |
1.13 |
||
|
207.3 |
210.3 |
3.0 |
2.47 |
(including) | |
|
MR6244 |
0.0 |
73.2 |
73.2 |
0.09 |
HideOut |
|
205.7 |
242.3 |
36.6 |
1.06 |
||
|
214.9 |
221.0 |
6.1 |
2.91 |
(including) | |
|
257.6 |
271.3 |
13.7 |
0.17 |
||
|
278.9 |
280.4 |
1.5 |
0.12 |
||
|
288.0 |
294.1 |
6.1 |
0.24 |
||
|
MR6245 |
68.6 |
71.6 |
3.0 |
0.19 |
TZN |
|
82.3 |
83.8 |
1.5 |
0.29 |
||
|
128.0 |
129.5 |
1.5 |
0.21 |
||
|
146.3 |
161.5 |
15.2 |
0.24 |
||
|
192.0 |
207.3 |
15.2 |
1.47 |
||
|
198.1 |
202.7 |
4.6 |
3.54 |
(including) | |
|
MR6246 |
51.8 |
68.6 |
16.8 |
0.21 |
TZN |
|
97.5 |
99.1 |
1.5 |
0.14 |
||
|
111.3 |
152.4 |
41.1 |
0.44 |
||
|
169.2 |
179.8 |
10.7 |
0.36 |
||
|
MR6247 |
0.0 |
82.3 |
82.3 |
0.11 |
HideOut |
|
192.0 |
242.3 |
50.3 |
0.21 |
||
|
MR6248 |
59.4 |
62.5 |
3.0 |
0.15 |
TZN |
|
138.7 |
140.2 |
1.5 |
0.26 |
||
|
167.6 |
184.4 |
16.8 |
0.37 |
||
|
198.1 |
199.6 |
1.5 |
0.17 |
||
|
205.7 |
227.1 |
21.3 |
0.76 |
||
|
MR6249 |
80.8 |
82.3 |
1.5 |
0.36 |
TZN |
|
89.9 |
91.4 |
1.5 |
0.38 |
||
|
99.1 |
100.6 |
1.5 |
0.12 |
||
|
134.1 |
135.6 |
1.5 |
0.12 |
||
|
153.9 |
173.7 |
19.8 |
0.63 |
||
|
207.3 |
211.8 |
4.6 |
0.94 |
||
|
211.8 |
217.9 |
6.1 |
0.47 |
||
|
MR6250 |
0.0 |
82.3 |
82.3 |
0.09 |
HideOut |
|
135.6 |
157.0 |
21.3 |
0.23 |
||
|
176.8 |
178.3 |
1.5 |
0.12 |
||
|
MR6251 |
0.0 |
100.6 |
100.6 |
0.09 |
HideOut |
|
169.2 |
239.3 |
70.1 |
1.10 |
||
|
178.3 |
214.9 |
36.6 |
1.91 |
(including) | |
|
245.4 |
246.9 |
1.5 |
0.98 |
||
|
257.6 |
260.6 |
3.0 |
0.29 |
||
|
MR6252 |
109.7 |
143.3 |
33.5 |
0.15 |
TZN |
|
150.9 |
178.3 |
27.4 |
0.41 |
||
|
192.0 |
208.8 |
16.8 |
1.10 |
||
|
208.8 |
230.1 |
21.3 |
1.05 |
||
|
MR6253 |
100.6 |
138.7 |
38.1 |
0.52 |
TZN |
|
103.6 |
106.7 |
3.0 |
3.87 |
(including) | |
|
170.7 |
175.3 |
4.6 |
0.18 |
||
|
266.7 |
291.1 |
24.4 |
0.58 |
||
|
MRA6254 |
21.3 |
27.4 |
6.1 |
0.11 |
TZN |
|
128.0 |
135.6 |
7.6 |
0.21 |
||
|
259.1 |
307.8 |
48.8 |
1.09 |
||
|
MRA6255 |
45.7 |
53.3 |
7.6 |
0.59 |
8SX |
|
182.9 |
217.9 |
35.1 |
1.09 |
||
|
187.5 |
196.6 |
9.1 |
3.44 |
(including) | |
|
272.8 |
285.0 |
12.2 |
0.12 |
||
|
MRA6256 |
0.0 |
9.1 |
9.1 |
0.37 |
8SX |
|
178.3 |
240.8 |
62.5 |
0.39 |
||
|
208.8 |
216.4 |
7.6 |
1.40 |
(including) | |
|
249.9 |
256.0 |
6.1 |
0.16 |
||
|
MRA6257 |
53.3 |
54.9 |
1.5 |
0.13 |
TZN |
|
59.4 |
62.5 |
3.0 |
0.12 |
||
|
93.0 |
94.5 |
1.5 |
0.16 |
||
|
246.9 |
271.3 |
24.4 |
1.59 |
||
|
256.0 |
271.3 |
15.2 |
2.41 |
(including) | |
|
271.3 |
288.0 |
16.8 |
0.71 |
||
|
MRA6258 |
0.0 |
44.2 |
44.2 |
0.10 |
8SX |
|
155.4 |
173.7 |
18.3 |
0.20 |
||
|
182.9 |
192.0 |
9.1 |
0.18 |
||
|
MRA6259 |
0.0 |
10.7 |
10.7 |
0.12 |
8SX |
|
246.9 |
298.7 |
51.8 |
0.77 |
||
|
263.7 |
277.4 |
13.7 |
1.84 |
(including) | |
|
298.7 |
309.4 |
10.7 |
0.48 |
||
|
309.4 |
335.3 |
25.9 |
0.30 |
||
|
MRA6260 |
18.3 |
19.8 |
1.5 |
0.15 |
8SX |
|
109.7 |
140.2 |
30.5 |
1.45 |
||
|
112.8 |
123.4 |
10.7 |
3.72 |
(including) | |
|
MRA6261 |
0.0 |
22.9 |
22.9 |
0.07 |
8SX |
|
170.7 |
184.4 |
13.7 |
0.24 |
||
|
195.1 |
196.6 |
1.5 |
0.12 |
||
|
MRA6262 |
3.0 |
33.5 |
30.5 |
0.24 |
Mud |
|
51.8 |
53.3 |
1.5 |
0.25 |
||
|
126.5 |
134.1 |
7.6 |
0.12 |
||
|
143.3 |
147.8 |
4.6 |
0.13 |
||
|
147.8 |
153.9 |
6.1 |
0.44 |
||
|
MRA6263 |
24.4 |
25.9 |
1.5 |
0.24 |
Mud |
|
38.1 |
99.1 |
61.0 |
0.24 |
||
|
149.4 |
153.9 |
4.6 |
0.11 |
||
|
MRA6264 |
0.0 |
4.6 |
4.6 |
0.28 |
Mud |
|
13.7 |
22.9 |
9.1 |
0.20 |
||
|
120.4 |
125.0 |
4.6 |
0.71 |
||
|
MRA6265 |
12.2 |
29.0 |
16.8 |
0.19 |
Mud |
|
35.1 |
82.3 |
47.2 |
0.36 |
||
|
MRA6266 |
67.1 |
74.7 |
7.6 |
0.46 |
Mud |
|
82.3 |
89.9 |
7.6 |
0.46 |
||
|
MRA6267 |
0.0 |
9.1 |
9.1 |
1.39 |
Mud |
|
0.0 |
1.5 |
1.5 |
7.24 |
(including) | |
|
15.2 |
24.4 |
9.1 |
0.36 |
||
|
144.8 |
149.4 |
4.6 |
0.11 |
||
|
MRA6268 |
16.8 |
38.1 |
21.3 |
0.28 |
Mud |
|
45.7 |
70.1 |
24.4 |
0.39 |
||
|
MRA6269 |
80.8 |
86.9 |
6.1 |
0.30 |
Mud |
|
MR6270 |
0.0 |
83.8 |
83.8 |
0.11 |
HideOut |
|
137.2 |
138.7 |
1.5 |
0.13 |
||
|
144.8 |
237.7 |
93.0 |
1.96 |
||
|
167.6 |
199.6 |
32.0 |
5.01 |
(including) | |
|
MR6271 |
0.0 |
82.3 |
82.3 |
0.18 |
HideOut |
|
131.1 |
134.1 |
3.0 |
0.15 |
||
|
141.7 |
173.7 |
32.0 |
0.34 |
||
|
MR6272 |
48.8 |
51.8 |
3.0 |
0.12 |
TZN |
|
112.8 |
126.5 |
13.7 |
0.13 |
||
|
138.7 |
155.4 |
16.8 |
0.47 |
||
|
169.2 |
189.0 |
19.8 |
0.92 |
||
|
176.8 |
179.8 |
3.0 |
2.49 |
(including) | |
|
189.0 |
198.1 |
9.1 |
0.25 |
||
|
MR6273 |
103.6 |
112.8 |
9.1 |
0.27 |
TZN |
|
123.4 |
131.1 |
7.6 |
0.44 |
||
|
138.7 |
143.3 |
4.6 |
0.16 |
||
|
164.6 |
182.9 |
18.3 |
0.29 |
||
|
MR6274 |
115.8 |
118.9 |
3.0 |
0.23 |
TZN |
|
125.0 |
143.3 |
18.3 |
0.40 |
||
|
163.1 |
167.6 |
4.6 |
0.42 |
||
|
173.7 |
187.5 |
13.7 |
4.14 |
||
|
184.4 |
187.5 |
3.0 |
9.84 |
(including) | |
|
187.5 |
198.1 |
10.7 |
0.77 |
||
|
MR6275 |
146.3 |
161.5 |
15.2 |
0.22 |
Valmy |
|
167.6 |
173.7 |
6.1 |
0.13 |
||
|
190.5 |
193.5 |
3.0 |
0.34 |
||
|
216.4 |
217.9 |
1.5 |
0.15 |
||
|
224.0 |
227.1 |
3.0 |
0.20 |
||
|
256.0 |
257.6 |
1.5 |
0.52 |
||
|
MR6276 |
59.4 |
62.5 |
3.0 |
0.11 |
Mud |
|
80.8 |
83.8 |
3.0 |
0.14 |
||
|
152.4 |
153.9 |
1.5 |
0.18 |
||
|
158.5 |
170.7 |
12.2 |
0.11 |
||
|
MR6277 |
3.0 |
4.6 |
1.5 |
0.11 |
Mud |
|
18.3 |
24.4 |
6.1 |
0.21 |
||
|
53.3 |
64.0 |
10.7 |
1.65 |
||
|
54.9 |
57.9 |
3.0 |
4.81 |
(including) | |
|
MR6278 |
12.2 |
32.0 |
19.8 |
1.36 |
Mud |
|
18.3 |
24.4 |
6.1 |
3.43 |
(including) | |
|
MR6279 |
NSV |
Mud | |||
|
MRA6280 |
19.8 |
25.9 |
6.1 |
0.32 |
Mud |
|
57.9 |
62.5 |
4.6 |
0.24 |
||
|
157.0 |
160.0 |
3.0 |
0.55 |
||
|
MRA6281 |
0.0 |
70.1 |
70.1 |
0.27 |
HideOut |
|
MR6283 |
91.4 |
150.9 |
59.4 |
1.65 |
Valmy |
|
106.7 |
120.4 |
13.7 |
3.22 |
||
|
141.7 |
147.8 |
6.1 |
3.12 |
||
|
160.0 |
164.6 |
4.6 |
0.56 |
||
|
196.6 |
208.8 |
12.2 |
0.16 |
||
|
275.8 |
278.9 |
3.0 |
0.15 |
||
|
285.0 |
289.6 |
4.6 |
0.12 |
||
|
MR6284 |
22.9 |
25.9 |
3.0 |
0.11 |
Valmy |
|
57.9 |
62.5 |
4.6 |
0.37 |
||
|
112.8 |
121.9 |
9.1 |
0.12 |
||
|
163.1 |
205.7 |
42.7 |
0.20 |
||
|
283.5 |
286.5 |
3.0 |
0.15 |
||
|
371.9 |
373.4 |
1.5 |
0.34 |
||
|
382.5 |
385.6 |
3.0 |
0.20 |
||
|
MR6285 |
70.1 |
71.6 |
1.5 |
0.11 |
Valmy |
|
79.2 |
80.8 |
1.5 |
0.13 |
||
|
112.8 |
115.8 |
3.0 |
0.12 |
||
|
163.1 |
169.2 |
6.1 |
0.14 |
||
|
195.1 |
205.7 |
10.7 |
0.37 |
||
|
MRA6292 |
0.0 |
74.7 |
74.7 |
0.06 |
HideOut |
|
121.9 |
161.5 |
39.6 |
0.86 |
||
|
169.2 |
184.4 |
15.2 |
0.19 |
||
|
198.1 |
201.2 |
3.0 |
0.45 |
||
|
230.1 |
240.8 |
10.7 |
0.11 |
||
|
MRA6293 |
0.0 |
68.6 |
68.6 |
0.11 |
HideOut |
|
102.1 |
103.6 |
1.5 |
0.10 |
||
|
MRA6293B |
0.0 |
76.2 |
76.2 |
0.08 |
HideOut |
|
102.1 |
129.5 |
27.4 |
1.11 |
||
|
MRA6294 |
0.0 |
70.1 |
70.1 |
0.09 |
HideOut |
|
97.5 |
99.1 |
1.5 |
0.11 |
||
|
108.2 |
161.5 |
53.3 |
0.73 |
||
|
239.3 |
249.9 |
10.7 |
0.21 |
||
|
MRA6295 |
0.0 |
61.0 |
61.0 |
0.07 |
HideOut |
|
61.0 |
91.4 |
30.5 |
0.46 |
||
|
MRA6297 |
0.0 |
68.6 |
68.6 |
0.13 |
HideOut |
|
96.0 |
103.6 |
7.6 |
0.52 |
||
|
MRA6298 |
0.0 |
54.9 |
54.9 |
0.14 |
HideOut |
|
Notes: Width in meters represents downhole intersected length, which may or may not be a true thickness of the mineralization. NSV means "no significant values". |
Table 2. Drillhole collars from the second quarter of the 2016 exploration drill program at the Marigold mine, Nevada, U.S.
|
HOLE ID |
UTM-N |
UTM-E |
Elevation |
Azimuth |
Dip |
Length |
Area |
|
MR6184 |
4510440 |
485358 |
1496 |
90 |
-90 |
123 |
TZN |
|
MR6185 |
4510291 |
485204 |
1501 |
247 |
-89 |
245 |
TZN |
|
MR6217 |
4508969 |
485809 |
1605 |
283 |
-89 |
276 |
HideOut |
|
MR6220 |
4510009 |
486121 |
1501 |
0 |
-90 |
94 |
8SX |
|
MR6222 |
4509948 |
486133 |
1500 |
0 |
-90 |
64 |
8SX |
|
MR6223 |
4509801 |
486292 |
1498 |
90 |
-90 |
140 |
8SX |
|
MR6225 |
4509152 |
485835 |
1593 |
200 |
-90 |
276 |
HideOut |
|
MR6226 |
4509463 |
485880 |
1607 |
54 |
-90 |
306 |
HideOut |
|
MR6227 |
4509364 |
485910 |
1608 |
0 |
-90 |
110 |
8SX |
|
MR6228 |
4510383 |
485291 |
1498 |
18 |
-90 |
230 |
TZN |
|
MR6229 |
4508918 |
485850 |
1605 |
233 |
-90 |
245 |
HideOut |
|
MR6230 |
4510472 |
485321 |
1496 |
338 |
-89 |
200 |
TZN |
|
MR6231 |
4510501 |
485355 |
1494 |
72 |
-89 |
200 |
TZN |
|
MR6232 |
4510533 |
485386 |
1493 |
113 |
-90 |
200 |
TZN |
|
MR6233 |
4508809 |
485939 |
1589 |
75 |
-89 |
154 |
HideOut |
|
MR6234 |
4508770 |
486016 |
1597 |
16 |
-89 |
245 |
HideOut |
|
MR6235 |
4508773 |
485953 |
1590 |
302 |
-89 |
245 |
HideOut |
|
MR6236 |
4508763 |
485980 |
1590 |
158 |
-90 |
245 |
HideOut |
|
MR6237 |
4510509 |
485416 |
1494 |
103 |
-90 |
200 |
TZN |
|
MR6238 |
4510447 |
485418 |
1495 |
226 |
-90 |
203 |
TZN |
|
MR6239 |
4510389 |
485408 |
1496 |
202 |
-89 |
200 |
TZN |
|
MR6240 |
4510440 |
485479 |
1494 |
66 |
-89 |
239 |
TZN |
|
MR6241 |
4510412 |
485452 |
1495 |
34 |
-90 |
200 |
TZN |
|
MR6242 |
4510354 |
485449 |
1496 |
4 |
-89 |
215 |
TZN |
|
MR6243 |
4510471 |
485573 |
1492 |
291 |
-89 |
215 |
TZN |
|
MR6244 |
4509104 |
485812 |
1593 |
115 |
-90 |
294 |
HideOut |
|
MR6245 |
4510228 |
485326 |
1501 |
90 |
-90 |
245 |
TZN |
|
MR6246 |
4510198 |
485385 |
1500 |
100 |
-89 |
230 |
TZN |
|
MR6247 |
4508949 |
485784 |
1605 |
319 |
-90 |
270 |
HideOut |
|
MR6248 |
4510163 |
485385 |
1502 |
44 |
-89 |
245 |
TZN |
|
MR6249 |
4510189 |
485329 |
1502 |
314 |
-90 |
245 |
TZN |
|
MR6250 |
4508919 |
485871 |
1605 |
351 |
-89 |
215 |
HideOut |
|
MR6251 |
4508980 |
485849 |
1604 |
213 |
-90 |
261 |
HideOut |
|
MR6252 |
4510503 |
485302 |
1495 |
154 |
-90 |
230 |
TZN |
|
MR6253 |
4510048 |
485344 |
1504 |
299 |
-90 |
291 |
TZN |
|
MRA6254 |
4510048 |
485345 |
1504 |
89 |
-63 |
315 |
TZN |
|
MRA6255 |
4509705 |
486091 |
1524 |
269 |
-75 |
325 |
8SX |
|
MRA6256 |
4509620 |
486072 |
1523 |
268 |
-70 |
337 |
8SX |
|
MRA6257 |
4510084 |
485367 |
1503 |
89 |
-58 |
288 |
TZN |
|
MRA6258 |
4509790 |
486214 |
1500 |
267 |
-59 |
245 |
8SX |
|
MRA6259 |
4509650 |
486041 |
1523 |
271 |
-59 |
337 |
8SX |
|
MRA6260 |
4509687 |
486289 |
1500 |
268 |
-73 |
169 |
8SX |
|
MRA6261 |
4509675 |
486130 |
1525 |
90 |
-59 |
215 |
8SX |
|
MRA6262 |
4506390 |
486776 |
1640 |
265 |
-54 |
154 |
Mud Pit |
|
MRA6263 |
4506388 |
486839 |
1640 |
270 |
-56 |
154 |
Mud Pit |
|
MRA6264 |
4506419 |
486738 |
1640 |
269 |
-57 |
154 |
Mud Pit |
|
MRA6265 |
4506421 |
486812 |
1640 |
270 |
-55 |
123 |
Mud Pit |
|
MRA6266 |
4506418 |
486857 |
1639 |
271 |
-64 |
154 |
Mud Pit |
|
MRA6267 |
4506450 |
486743 |
1640 |
271 |
-64 |
154 |
Mud Pit |
|
MRA6268 |
4506450 |
486808 |
1639 |
269 |
-69 |
215 |
Mud Pit |
|
MRA6269 |
4506450 |
486856 |
1639 |
271 |
-69 |
123 |
Mud Pit |
|
MR6270 |
4508889 |
485832 |
1605 |
306 |
-89 |
245 |
HideOut |
|
MR6271 |
4508889 |
485874 |
1605 |
249 |
-90 |
230 |
HideOut |
|
MR6272 |
4510259 |
485343 |
1500 |
51 |
-89 |
215 |
TZN |
|
MR6273 |
4510260 |
485220 |
1501 |
194 |
-89 |
215 |
TZN |
|
MR6274 |
4510382 |
485338 |
1497 |
359 |
-89 |
215 |
TZN |
|
MR6275 |
4504499 |
487145 |
1863 |
318 |
-90 |
283 |
Valmy |
|
MR6276 |
4506431 |
486451 |
1656 |
156 |
-90 |
215 |
Mud Pit |
|
MR6277 |
4506480 |
486797 |
1639 |
270 |
-90 |
154 |
Mud Pit |
|
MR6278 |
4506481 |
486759 |
1640 |
41 |
-89 |
163 |
Mud Pit |
|
MR6279 |
4506480 |
486833 |
1639 |
98 |
-89 |
105 |
Mud Pit |
|
MRA6280 |
4506389 |
486807 |
1641 |
267 |
-54 |
197 |
Mud Pit |
|
MR6281 |
4508978 |
485851 |
1604 |
0 |
-90 |
70 |
HideOut |
|
MR6283 |
4504493 |
487111 |
1864 |
132 |
-89 |
290 |
Valmy |
|
MR6284 |
4504468 |
487182 |
1871 |
31 |
-90 |
398 |
Valmy |
|
MR6285 |
4504466 |
487210 |
1872 |
235 |
-90 |
239 |
Valmy |
|
MRA6292 |
4508805 |
485825 |
1578 |
348 |
-80 |
245 |
HideOut |
|
MRA6293 |
4508804 |
485856 |
1581 |
180 |
-80 |
123 |
HideOut |
|
MRA6293B |
4508806 |
485855 |
1581 |
345 |
-80 |
142 |
HideOut |
|
MRA6294 |
4508807 |
485854 |
1581 |
344 |
-80 |
261 |
HideOut |
|
MRA6295 |
4508788 |
485833 |
1578 |
179 |
-80 |
123 |
HideOut |
|
MRA6297 |
4508804 |
485885 |
1584 |
343 |
-80 |
233 |
HideOut |
|
MRA6298 |
4508794 |
485883 |
1583 |
178 |
-79 |
154 |
HideOut |
|
Notes: This table reports all the drillholes completed during the second quarter of 2016. The numerical gaps in the drillhole sequence result from drillholes reported previously or drillholes expected to be drilled in the third quarter of 2016. |
Table 3. Drillhole results from the second quarter 2016 exploration drill program at the Seabee Gold Operation, Saskatchewan, Canada.
|
Hole ID |
From |
To |
Mine E |
Mine N |
Elevation |
Gold |
True |
Zone |
|
SUG-16-012 |
129.3 |
130.1 |
3955 |
4930 |
-358 |
0.06 |
0.8 |
9A |
|
SUG-16-013 |
159.0 |
162.4 |
3956 |
4920 |
-391 |
0.05 |
3.2 |
9A |
|
SUG-16-014 |
152.6 |
166.9 |
3917 |
4974 |
-423 |
1.65 |
11.3 |
9A |
|
SUG-16-015 |
131.9 |
133.3 |
3931 |
4948 |
-383 |
0.10 |
1.3 |
9A |
|
SUG-16-016 |
152.9 |
157.0 |
3922 |
4975 |
-408 |
10.83 |
3.4 |
9A |
|
SUG-16-017 |
145.3 |
147.2 |
3919 |
4960 |
-406 |
0.10 |
1.6 |
9A |
|
SUG-16-018 |
114.6 |
116.0 |
3891 |
4954 |
-372 |
0.10 |
1.3 |
9C |
|
SUG-16-018 |
134.4 |
138.0 |
3890 |
4944 |
-390 |
5.65 |
3.3 |
9A |
|
SUG-16-019 |
127.8 |
130.4 |
3896 |
4935 |
-375 |
22.88 |
2.5 |
9A |
|
SUG-16-020 |
120.3 |
125.5 |
3887 |
4965 |
-384 |
2.40 |
4.4 |
9C |
|
SUG-16-020 |
140.8 |
147.0 |
3886 |
4958 |
-403 |
2.19 |
5.3 |
9B |
|
SUG-16-020 |
152.8 |
156.5 |
3885 |
4954 |
-413 |
0.50 |
3.2 |
9A |
|
SUG-16-021 |
136.3 |
142.5 |
3872 |
4975 |
-402 |
21.06 |
4.7 |
9C |
|
SUG-16-021 |
154.3 |
160.6 |
3869 |
4971 |
-419 |
28.64 |
4.9 |
9B |
|
SUG-16-021 |
166.2 |
176.8 |
3867 |
4968 |
-433 |
1.25 |
8.2 |
9A |
|
SUG-16-022 |
165.3 |
175.0 |
3880 |
4989 |
-436 |
0.90 |
6.9 |
9C |
|
SUG-16-023 |
159.4 |
167.3 |
3898 |
4975 |
-428 |
16.17 |
6.3 |
9C |
|
SUG-16-023 |
172.7 |
175.8 |
3899 |
4973 |
-438 |
2.54 |
2.5 |
9A |
|
SUG-16-024 |
135.7 |
136.2 |
3916 |
4934 |
-384 |
0.23 |
0.5 |
9A |
|
SUG-16-025 |
130.3 |
132.0 |
3927 |
4924 |
-369 |
0.10 |
1.7 |
9A |
|
SUG-16-026 |
131.6 |
132.0 |
3943 |
4913 |
-355 |
0.01 |
0.4 |
9A |
|
SUG-16-027 |
131.2 |
138.1 |
3980 |
4933 |
-356 |
3.47 |
6.0 |
9A |
|
SUG-16-028 |
153.8 |
159.4 |
3933 |
4973 |
-417 |
2.13 |
4.3 |
9C |
|
SUG-16-028 |
165.9 |
167.9 |
3935 |
4970 |
-427 |
0.58 |
1.6 |
9A |
|
SUG-16-029 |
151.6 |
156.5 |
4004 |
4945 |
-374 |
3.70 |
3.8 |
9A |
|
SUG-16-030 |
165.0 |
168.7 |
3954 |
4982 |
-425 |
1.81 |
2.8 |
9A |
|
SUG-16-031 |
193.7 |
195.0 |
4015 |
4987 |
-424 |
7.67 |
0.9 |
9A |
|
SUG-16-032 |
246.2 |
246.8 |
4068 |
4998 |
-453 |
0.01 |
0.4 |
9A |
|
SUG-16-033 |
270.0 |
277.1 |
4021 |
5210 |
-409 |
3.03 |
1.7 |
HWZ |
|
SUG-16-300 |
181.1 |
181.9 |
4097 |
4977 |
-381 |
0.07 |
0.4 |
9A |
|
SUG-16-301 |
238.8 |
239.2 |
4038 |
4985 |
-406 |
0.01 |
0.2 |
9A |
|
SUG-16-303 |
219.0 |
224.5 |
4029 |
4966 |
-372 |
1.78 |
1.9 |
9A |
|
SUG-16-304 |
189.3 |
191.9 |
4066 |
4948 |
-366 |
0.02 |
1.2 |
9A |
|
SUG-16-305 |
168.7 |
169.1 |
4074 |
4929 |
-335 |
0.01 |
0.2 |
9A |
|
SUG-16-306 |
199.5 |
203.0 |
4251 |
4796 |
-127 |
5.08 |
1.4 |
9A |
|
SUG-16-307 |
138.9 |
150.0 |
4266 |
4848 |
-159 |
20.14 |
4.0 |
9A |
|
SUG-16-308 |
153.0 |
161.2 |
4285 |
4848 |
-153 |
27.28 |
2.7 |
9A |
|
SUG-16-309 |
50.4 |
51.8 |
3767 |
4819 |
-202 |
0.27 |
1.1 |
9C |
|
SUG-16-310 |
13.7 |
15.0 |
3793 |
4800 |
-221 |
0.10 |
0.9 |
9A |
|
SUG-16-310 |
41.2 |
41.7 |
3773 |
4817 |
-215 |
19.13 |
0.4 |
9B |
|
SUG-16-310 |
57.1 |
61.4 |
3760 |
4829 |
-210 |
1.92 |
3.0 |
9C |
|
SUG-16-311 |
15.1 |
16.8 |
3791 |
4802 |
-224 |
6.28 |
1.0 |
9A |
|
SUG-16-311 |
70.2 |
72.3 |
3752 |
4841 |
-225 |
0.10 |
1.2 |
9C |
|
SUG-16-312 |
15.5 |
16.0 |
3793 |
4799 |
-214 |
0.01 |
0.4 |
9A |
|
SUG-16-312 |
45.0 |
46.5 |
3776 |
4816 |
-196 |
0.57 |
1.3 |
9C |
|
SUG-16-313 |
14.5 |
15.0 |
3793 |
4802 |
-223 |
9.97 |
0.3 |
9A |
|
SUG-16-313 |
56.5 |
60.1 |
3765 |
4835 |
-218 |
0.26 |
2.6 |
9C |
|
SUG-16-314 |
7.7 |
10.8 |
3796 |
4797 |
-222 |
0.29 |
1.9 |
9A |
|
SUG-16-314 |
48.5 |
51.4 |
3763 |
4817 |
-210 |
0.04 |
1.8 |
9C |
|
SUG-16-315 |
6.8 |
7.4 |
3799 |
4797 |
-221 |
0.87 |
0.5 |
9A |
|
SUG-16-315 |
40.3 |
42.0 |
3777 |
4818 |
-205 |
4.38 |
1.4 |
9C |
|
SUG-16-316 |
43.1 |
44.4 |
3783 |
4817 |
-192 |
0.01 |
1.2 |
9C |
|
SUG-16-317 |
13.0 |
15.2 |
3795 |
4804 |
-225 |
8.88 |
1.4 |
9A |
|
SUG-16-317 |
50.0 |
55.8 |
3771 |
4835 |
-225 |
8.83 |
3.9 |
9C |
|
SUG-16-318 |
10.4 |
11.9 |
3800 |
4803 |
-221 |
2.77 |
1.4 |
9A |
|
SUG-16-318 |
37.6 |
39.5 |
3790 |
4827 |
-212 |
23.53 |
1.7 |
9C |
|
SUG-16-319 |
13.8 |
16.5 |
3800 |
4808 |
-225 |
0.94 |
2.1 |
9A |
|
SUG-16-319 |
50.5 |
52.5 |
3790 |
4843 |
-224 |
0.11 |
1.6 |
9C |
|
SUG-16-320 |
10.9 |
12.9 |
3803 |
4805 |
-222 |
1.39 |
1.8 |
9A |
|
SUG-16-320 |
40.6 |
41.7 |
3797 |
4833 |
-215 |
0.43 |
1.0 |
9C |
|
SUG-16-321 |
8.5 |
10.2 |
3804 |
4800 |
-217 |
1.56 |
1.7 |
9A |
|
SUG-16-321 |
34.8 |
38.0 |
3799 |
4819 |
-198 |
8.48 |
3.2 |
9C |
|
SUG-16-322 |
9.4 |
11.0 |
3806 |
4803 |
-219 |
5.07 |
1.6 |
9A |
|
SUG-16-322 |
37.8 |
40.3 |
3807 |
4828 |
-206 |
1.38 |
2.5 |
9C |
|
SUG-16-323 |
36.9 |
39.7 |
3810 |
4822 |
-201 |
2.76 |
2.8 |
9C |
|
SUG-16-324 |
9.7 |
12.5 |
3808 |
4804 |
-222 |
5.55 |
2.6 |
9A |
|
SUG-16-324 |
35.7 |
36.4 |
3812 |
4827 |
-213 |
0.50 |
0.7 |
9B |
|
SUG-16-324 |
41.5 |
42.1 |
3812 |
4832 |
-211 |
0.73 |
0.6 |
9C |
|
SUG-16-325 |
18.0 |
19.0 |
3812 |
4810 |
-221 |
1.40 |
0.9 |
9A |
|
SUG-16-325 |
28.7 |
34.5 |
3816 |
4822 |
-217 |
2.32 |
5.0 |
9B |
|
SUG-16-325 |
46.0 |
48.6 |
3821 |
4836 |
-213 |
3.95 |
2.2 |
9C |
|
SUG-16-326 |
17.2 |
21.0 |
3816 |
4807 |
-215 |
1.00 |
3.2 |
9A |
|
SUG-16-326 |
30.5 |
35.5 |
3823 |
4816 |
-208 |
2.01 |
4.2 |
9B |
|
SUG-16-326 |
46.1 |
50.3 |
3831 |
4827 |
-200 |
5.08 |
3.5 |
9C |
|
SUG-16-327 |
14.0 |
17.1 |
3816 |
4801 |
-215 |
26.84 |
2.5 |
9A |
|
SUG-16-327 |
50.4 |
52.4 |
3834 |
4821 |
-191 |
2.90 |
1.6 |
9C |
|
SUG-16-328 |
10.2 |
12.6 |
3811 |
4802 |
-219 |
9.96 |
2.3 |
9A |
|
SUG-16-328 |
40.3 |
43.2 |
3820 |
4826 |
-202 |
5.08 |
2.7 |
9C |
|
SUG-16-329 |
12.5 |
15.7 |
3814 |
4801 |
-216 |
0.93 |
2.8 |
9A |
|
SUG-16-329 |
46.1 |
47.7 |
3827 |
4821 |
-193 |
1.17 |
1.4 |
9C |
|
SUG-16-901 |
400.8 |
406.5 |
4456 |
5240 |
-551 |
1.76 |
2.0 |
8a |
|
SUG-16-902 |
475.3 |
494.0 |
4429 |
5296 |
-617 |
0.26 |
8.1 |
8a |
|
SUG-16-903 |
441.3 |
454.5 |
4329 |
5254 |
-553 |
4.62 |
5.4 |
8a |
|
SUG-16-904 |
580.2 |
583.2 |
4307 |
5340 |
-675 |
0.09 |
2.2 |
8a |
|
SUG-16-905 |
678.0 |
683.7 |
4260 |
5411 |
-742 |
0.18 |
1.2 |
8a |
|
SUG-16-906 |
313.5 |
318.7 |
4396 |
5132 |
-446 |
1.92 |
3.8 |
8a |
|
SUG-16-907 |
378.9 |
388.3 |
4292 |
5158 |
-467 |
9.38 |
4.8 |
8a |
|
SUG-16-908 |
331.4 |
340.8 |
4355 |
5139 |
-451 |
15.38 |
6.0 |
8a |
|
SUG-16-909 |
424.3 |
431.8 |
4230 |
5125 |
-471 |
4.51 |
3.8 |
8a |
|
SUG-16-910 |
373.3 |
381.1 |
4334 |
5168 |
-488 |
2.69 |
3.1 |
8a |
|
SUG-16-911 |
387.4 |
389.9 |
4289 |
5156 |
-471 |
12.60 |
1.3 |
8a |
|
SUG-16-912 |
387.2 |
392.4 |
4301 |
5167 |
-481 |
39.06 |
2.7 |
8a |
|
SUG-16-913 |
392.5 |
399.0 |
4354 |
5202 |
-515 |
0.55 |
2.8 |
8a |
|
SUG-16-914 |
421.9 |
426.1 |
4296 |
5204 |
-517 |
4.92 |
2.1 |
8a |
|
* Gold values cut to 75 g/t. Intersection midpoints determined where mineralized structure intersected or projected. Width determined from average plane dipping 52 degrees towards 356 degrees azimuth in mine grid space. |
|
Note: Drillholes SUG-16-034, SUG-16-302 and SUG-16-900 did not encounter zone intersections. |
Sampling and Analytical Procedures
All drill samples in respect of the Marigold mine drilling program were sent for processing and analysis to the offices of American Assay Laboratories, Inc. ("AAL") in Sparks, Nevada which is an ISO 17025 accredited laboratory independent from Silver Standard. Fire assay was completed on a 30 gram sample (AAL method code FA-PB30-ICP) with an Inductively Coupled Plasma ("ICP") finish after a two acid digestion. Samples with assay results greater than 10 g/t were fire assayed on a 30 gram sample (AAL method code Grav Au30) with a gravimetric finish. We employ a rigorous Quality Assurance/Quality Control ("QA/QC") program, which includes real-time assay quality monitoring through the regular insertion of blanks, duplicates, and certified reference material, as well as reviewing laboratory-provided QA/QC data.
All drill samples in respect of the Seabee Gold Operation drilling program were assayed by our onsite non-accredited assay laboratory, which is not independent from Silver Standard. Duplicate check assays were conducted at site as well as at TSL Laboratories in Saskatoon, which is independent from Silver Standard. Results of the spot checks were consistent with those reported. Sampling interval was established by minimum or maximum sampling lengths and geological and/or structural criteria. Two hundred gram samples were pulverized until greater than 80 percent passes through 150 mesh screen. Thirty gram pulp samples were then analyzed for gold by fire assay with gravimetric finish (0.01 grams per tonne detection limit).
Qualified Persons
The scientific and technical data contained in this news release relating to the Marigold mine has been reviewed and approved by James N. Carver, SME Registered Member and a Qualified Person under National Instrument 43-101 — Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Carver is our Chief Geologist at the Marigold mine. The scientific and technical data contained in this news release relating to the Seabee Gold Operation has been reviewed and approved by F. Carl Edmunds, P. Geo., a Qualified Person under NI 43-101. Mr. Edmunds is our Chief Geologist, Exploration.
About Silver Standard
Silver Standard is a Canadian-based precious metals producer with three wholly-owned and operated mines, including the Marigold gold mine in Nevada, U.S., the Seabee Gold Operation in Saskatchewan, Canada and the Pirquitas silver mine in Jujuy Province, Argentina. We also have two feasibility stage projects and an extensive portfolio of exploration properties throughout North and South America. We are committed to delivering safe production through relentless emphasis on Operational Excellence. We are also focused on growing production and Mineral Reserves through the exploration and acquisition of assets for accretive growth, while maintaining financial strength.
For further information contact:
W. John DeCooman, Jr.
Vice President, Business Development and Strategy
Silver Standard Resources Inc.
Vancouver, BC
N.A. toll-free: +1 (888) 338-0046
All others: +1 (604) 689-3846
E-Mail: invest@silverstandard.com
|
To receive Silver Standard's news releases by e-mail, please register using the Silver Standard website at www.silverstandard.com. |
|
Cautionary Note Regarding Forward-Looking Statements: |
|
This news release contains forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking statements") concerning the anticipated developments in our operations in future periods, and other events or conditions that may occur or exist in the future. All statements, other than statements of historical fact, are forward-looking statements. |
|
Generally, forward-looking statements can be identified by the use of words or phrases such as "expects," "anticipates," "plans," "projects," "estimates," "assumes," "intends," "strategy," "goals," "objectives," "potential," or variations thereof, or stating that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved, or the negative of any of these terms or similar expressions. The forward-looking statements in this news release relate to, among other things: our ability to add Mineral Resources and Mineral Reserves at the Marigold mine and the Seabee Gold Operation; future production of gold, silver and other metals; estimated production rates for gold, silver and other metals produced by us; ongoing or future development plans and capital replacement, improvement or remediation programs; and our plans and expectations for our properties and operations. |
|
These forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation, the following: uncertainty of production, development plans and cost estimates for the Marigold mine and the Seabee Gold Operation; our ability to replace Mineral Reserves; our ability to complete and successfully integrate an announced acquisition; commodity price fluctuations; political or economic instability and unexpected regulatory changes; currency fluctuations; the possibility of future losses; general economic conditions; counterparty and market risks related to the sale of our concentrate and metals; uncertainty in the accuracy of Mineral Reserves and Mineral Resources estimates and in our ability to extract mineralization profitably; differences in U.S. and Canadian practices for reporting Mineral Reserves and Mineral Resources; lack of suitable infrastructure or damage to existing infrastructure; future development risks, including start-up delays and cost overruns; our ability to obtain adequate financing for further exploration and development programs and opportunities; uncertainty in acquiring additional commercially mineable mineral rights; delays in obtaining or failure to obtain governmental permits, or non-compliance with our permits; our ability to attract and retain qualified personnel and management; potential labour unrest; the impact of governmental regulations, including health, safety and environmental regulations, including increased costs and restrictions on operations due to compliance with such regulations; reclamation and closure requirements for our mineral properties; social and economic changes following closure of a mine; unpredictable risks and hazards related to the development and operation of a mine or mineral property that are beyond our control; indigenous peoples' title claims and rights to consultation and accommodation may affect our existing operations as well as development projects and future acquisitions; assessments by taxation authorities in multiple jurisdictions, including the recent reassessment by the Canada Revenue Agency; claims and legal proceedings, including adverse rulings in litigation against us and/or our directors or officers; compliance with anti-corruption laws and internal controls, and increased regulatory compliance costs; complying with emerging climate change regulations and the impact of climate change; uncertainties related to title to our mineral properties and the ability to obtain surface rights; the sufficiency of our insurance coverage; civil disobedience in the countries where our mineral properties are located; operational safety and security risks; actions required to be taken by us under human rights law; competition in the mining industry for mineral properties; shortage or poor quality of equipment or supplies; an event of default under our convertible notes may significantly reduce our liquidity and adversely affect our business; failure to meet covenants under our senior secured revolving credit facility; conflicts of interest that could arise from certain of our directors' involvement with other natural resource companies; information systems security threats; and those other various risks and uncertainties identified under the heading "Risk Factors" in our most recent Annual Information Form filed with the Canadian securities regulatory authorities and included in our most recent Annual Report on Form 40-F filed with the U.S. Securities and Exchange Commission ("SEC"). |
|
This list is not exhaustive of the factors that may affect any of our forward-looking statements. Our forward-looking statements are based on what our management currently considers to be reasonable assumptions, beliefs, expectations and opinions based on the information currently available to it. Assumptions have been made regarding, among other things, our ability to carry on our exploration and development activities, our ability to meet our obligations under our property agreements, the timing and results of drilling programs, the discovery of Mineral Resources and Mineral Reserves on our mineral properties, the timely receipt of required approvals and permits, including those approvals and permits required for successful project permitting, construction and operation of our projects, the price of the minerals we produce, the costs of operating and exploration expenditures, our ability to operate in a safe, efficient and effective manner, our ability to obtain financing as and when required and on reasonable terms and our ability to continue operating the Marigold mine and the Seabee Gold Operation. You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. We cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. Our forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and we do not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements. |
|
Cautionary Note to U.S. Investors |
|
This news release includes Mineral Reserves and Mineral Resources classification terms that comply with reporting standards in Canada and the Mineral Reserves and the Mineral Resources estimates are made in accordance with NI 43-101. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ significantly from the requirements of the SEC set out in SEC Industry Guide 7. Consequently, Mineral Reserves and Mineral Resources information included in this news release is not comparable to similar information that would generally be disclosed by domestic U.S. reporting companies subject to the reporting and disclosure requirements of the SEC. Under SEC standards, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically produced or extracted at the time the reserve determination is made. In addition, the SEC's disclosure standards normally do not permit the inclusion of information concerning "Measured Mineral Resources," "Indicated Mineral Resources" or "Inferred Mineral Resources" or other descriptions of the amount of mineralization in mineral deposits that do not constitute "reserves" by U.S. standards in documents filed with the SEC. U.S. investors should understand that "Inferred Mineral Resources" have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. Moreover, the requirements of NI 43-101 for identification of "reserves" are also not the same as those of the SEC, and reserves reported by us in compliance with NI 43-101 may not qualify as "reserves" under SEC standards. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards. |
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/silver-standard-corporate-exploration-update-300310268.html
SOURCE Silver Standard Resources Inc.
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