Silver Mountain Mines Reports High Grade Assays from Grab Samples Range Including: 308 g/t Ag (9.00 oz/T Ag) & 12,346 g/t Ag ...
December 04 2012 - 6:45AM
Marketwired Canada
Silver Mountain Mines Inc. (TSX VENTURE:SMM) ("Silver Mountain" or the
"Company") is pleased to report the results of its soil, silt and rock sampling
completed during the 2012 exploration program on its 100% owned Ptarmigan
Property near Radium, British Columbia (the "Property"). The program continued
the Company's geochemical initiative to identify new, and extend known,
mineralized areas on the Property having potential for high grade,
silver-bearing vein and semi-massive to massive pyrite-enriched, manto-style
mineralization.
The 2012 rock, soil and silt geochemical sampling program on the Ptarmigan
Property resulted in several significant Gold ("Au"), Silver ("Ag"), Copper
("Cu"), Lead ("Pb") and Zinc ("Zn") anomalies that warrant follow-up work in
2013.
Noteworthy 2012 analyses include a grab sample that ran 12,346 grams per tonne
(g/t) Ag, 6.91 g/t Au and 6.23% Cu collected from float in a talus chute west of
the Ptarmigan Mine identifying greater mineralization potential. Additional
outcrop sampling of the North Ridge and West Vein area returned values ranging
from 29 g/t Ag to 1,376 g/t Ag and 1.83 g/t Au, 0.767% Cu and 3.81% Pb. This
area lies along the projected trend of a series of northwest trending faults
which pass through the Ptarmigan Mine area (see Fault Mineralization Map @
http://www.silvermountainmines.com). In particular, the Adit #3 fault extends
north from the Iron Cap Trend through the Upper Ptarmigan Zone, the Ptarmigan
Mine and may extend north to the West Vein. Mineralization has been identified
and associated with a north-trending fault system, over a horizontal distance of
1,400 meters (m) from north to south, a vertical thickness of 250 meters and
remains open along strike and to depth.
Historical high grade, silver-bearing vein and manto-style mineralization was
mined in the Ptarmigan Mine area with known production from Adit #3 reported at
520 Tons ("T") with silver-rich ore grades averaging 77 oz/T of (Ag).
Mineralization is hosted in interconnected and irregular veins with
silver-bearing minerals; silver sulphides, argentiferous galena and sulphosalts
in quartz of large pods or pyritic lenses with tetrahedrite.
The 2012 sampling program resulted in recovery of a total of 304 soil, 25 silt
and 94 rock samples from three main areas on the Ptarmigan Property; the
McDonald, Gopher and Law Creek drainages. The following is a tabulation of
anomalous rock samples recovered during 2012 (see 2012 Geochemistry Sampling Map
@ http://www.silvermountainmines.com).
Table 1 - Rock samples, highlights from 2012 exploration sampling for major elements
----------------------------------------------------------------------------
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Au Ag Cu Pb Zn
REDLINE CREEK & NORTH RIDGE (g/t) (g/t) (ppm) (ppm) (ppm)
----------------------------------------------------------------------------
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Sample Number
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E5525024 0.71 1,357 7,670 232 553
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E5525022 6.91 12,346 62,300 50.4 2,640
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E5525023 1.83 1,376 7,710 227 558
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E5525014 0.15 22 1,900 147 192
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E5525016 0.00 1.45 1,280 114 3.6
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E5525043 0.12 29 4,460 1,190 167
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E5525045 0.37 112 963 38,100 37.1
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E5525046 0.62 54.5 345 18,800 12.3
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Au Ag Cu Pb Zn
LAW CREEK (g/t) (g/t) (ppm) (ppm) (ppm)
----------------------------------------------------------------------------
Sample Number
----------------------------------------------------------------------------
E5525041 0.14 17.2 1,730 279 62.1
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E5526016 0.00 13.5 3,620 18.9 277
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E5525040 0.01 3.83 344 1,150 84.9
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E5525036 0.13 696 5,230 18,100 673
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E5525038 0.05 308 436 91,500 402
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E5525033 0.06 54.4 12,700 270 975
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E5525032 0.26 134 18,000 35.9 764
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E5525028 0.01 5.19 20,400 1450 74.3
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E5525031 0.02 3.72 2,350 220 28
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E5524978 0.02 3.48 859 2,630 31.6
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E5525029 0.03 39.1 12,600 2,670 305
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E5525027 0.16 590 14.4 278,000 82.9
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MCDONAL CREEK
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E5524979 0.85 3,905 4,200 250,000 6,240
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E5594627 0.00 34.9 251 8,238 375
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E5525970 0.00 146 421 89,800 6,910
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E5525967 0.00 18.6 13.4 44,700 9,280
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E5524998 0.00 0.5 0 363 14,900
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E5524999 0.01 13.9 22.6 8,500 49,900
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Note: Grab samples are selective by nature and are unlikely to represent
average grades of the deposit.
Table 2- Soil samples, highlights from 2012 exploration sampling for major elements
--------------------------------------------------------------------------
Au Ag Cu Pb Zn
Law Creek (g/t) (g/t) (ppm) (ppm) (ppm)
--------------------------------------------------------------------------
Sample Number
--------------------------------------------------------------------------
Law-54 0.03 28 286 1,460 218
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Law-103 0.02 8.15 2,540 306 77.4
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Law-49 0.00 4.79 97 1,310 402
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Law-68 0.01 3.51 96.6 106 67.3
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Law-53 0.01 3.3 63.6 138 74.1
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Law-19 0.01 3.19 179 50.4 35.4
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Law-25 0.00 2.47 132 140 59.6
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Law-48 0.00 2.28 116 558 199
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T12-14-S4 0.00 0.3 2,020 93.8 1,510
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To date, the Company has only explored an estimated 15% of its highly
prospective Ptarmigan Property. Assessment of all the results from the 2012
drilling and geochemical sampling program (including rock, soil and silt
sampling) is ongoing and will assist the Company in understanding the mineral
potential characterizing the Property and will guide recommendation for ongoing
work.
QA-QC All samples were submitted to AGAT Laboratories ("AGAT") for analysis, an
independent certified laboratory and preparation facility which maintains an ISO
17025 accreditation by the Standards Council of Canada (SCC). All samples were
securely stored at the Ptarmigan Mine site or within sight of the Project
Manager and/or Supervising Geologist, at all times. Samples were secured in rice
bags, delivered to AGAT Laboratory in Calgary, Alberta, from where they were
shipped to their Vancouver Laboratory for analysis.
The content of this news release has been reviewed by Rick Walker, B.Sc., M.Sc.,
P. Geo., a Qualified Person for the purposes of NI 43-101, with the ability and
authority to verify the authenticity and validity of the data herein.
About Silver Mountain Mines Inc. (TSX VENTURE:SMM)
Silver Mountain Mines Inc. is a Canadian based exploration and development
company with 100% ownership of a 9,200 hectare property centered on the
historical silver rich Ptarmigan Mine in south eastern, British Columbia. The
property hosts two styles of mineralization: silver rich, high-grade
polymetallic epithermal veins and manto style massive / semi-massive sulphide
mineralization.
For further information on Silver Mountain Mines Inc. please visit the Company's
website http://www.silvermountainmines.com and SEDAR (www.sedar.com) or contact
Mr. Steve Konopelky, President & CEO of the Company.
This news release may contain forward-looking statements including but not
limited to comments regarding the timing and content of upcoming work programs,
geological interpretations, potential mineral recovery processes, etc.
Forward-looking statements address future events and conditions and therefore
involve inherent risks and uncertainties. Actual results may differ materially
from those currently anticipated in such statements. These statements are based
on a number of assumptions and factors that could cause actual results to differ
materially from those in forward looking statements Silver Mountain Mines Inc.
does not assume any obligation to update or revise its forward-looking
statements, whether as a result of new information, future events or otherwise,
except to the extent required by applicable law.
ON BEHALF OF THE BOARD
Steve Konopelky, President and CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Silver Mountain Mines Inc.
Steve Konopelky
President & CEO
+1 403 229 9140
www.silvermountainmines.com
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