SILVER SHIELD EXPANDS PROPERTY HOLDINGS AROUND WELSH SILVER MINE
March 15 2011 - 7:00AM
PR Newswire (Canada)
BURLINGTON, ON, March 15 /CNW/ -- BURLINGTON, ON, March 15 /CNW/ -
Silver Shield Resources (TSXV: SSR) announces that it has acquired,
by staking, 100% interest in 3 claim blocks totaling 19 units
surrounding to the southwest, southeast and east of its primary
Ontario Silver Property, the Welsh Silver Mine. This brings the
property size to a total of 32 units and 1 Leased claim. The
Company felt it was important to acquire the additional property
prior to commencing the planned drilling program. The company plans
to commence its 2011 program immediately upon procurement of a
drill rig for the property. Tim Towers, President and CEO commented
"the company was founded on the Welsh Silver Mine and our belief in
its potential to be brought back into production when the economics
of the metals market dictated. Unlike many small mines in Ontario
the former producer is located in a very prolific area with shallow
deposits being easily accessible. With silver prices on the rise it
is felt that mines like the Welsh can be brought on stream again
and become very economic. The founders of Silver Shield have
not wavered from their production goal and hope that the
Welsh can be the first of their properties to be brought to small
to mid scale production in the near to short term." The new staking
was designed to cover extensions of silver bearing vein structures
known and inferred. The Welsh Mine Property is a typical
Cobalt-style deposit having numerous carbonate veins emplaced
within Nipissing Diabase rock. Mineralogy usually consists of
Ag-Cu-Co-Ni minerals hosted within the calcite vein. Native silver
has also been observed outside the veins in fractures within the
diabase. In 1908, The Welsh Silver Mine shaft was sunk on the #1
vein, to 160 feet and levels established at 75' and 150'. On the 75
foot level five veins were developed, Silver-rich lenses were
outlined on these veins, but were never mined. In 1963 Welsh Silver
Mines removed a bulk sample from the #4 vein that had an average
grade of 22 oz Ag/ton. Approximately 700 metres southeast of the
Welsh Shaft another set of veins occur but in a north-south
direction. In 1980 and 1982, 25,568 feet of surface drilling was
performed on the Cameron Mine property immediately north of the SSR
property. An underground ramp was developed in a southerly
direction to the SSR claim boundary by Teck-Lacana in 1983 to
prepare the property for production, along with a total of 3,885.5
feet of underground drilling. These veins were shown to extend onto
the SSR ground and have been the subject of drilling by both
Teck-Lacana and SSR. Previous diamond drilling by Silver Shield has
intersected numerous high-grade silver vein swarms (SCL-08-02 0.15m
@ 2,659.5g/t Ag; SCL-08-09 0.20m @ 2,589.2 g/t Ag) over a 200+m
strike length tracing the veins south below the thin Cobalt
sedimentary cover. The southern extension of these veins is now
covered by the expanded property. Silver Shield looks forward to
the start of the 2011 drilling to explore these southern
extensions. Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined on the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. Company Management, which takes full
responsibility for content, prepared this news release. In order to
proceed fully with the Company's exploration and acquisition plans,
additional funding may be necessary and, depending on market
conditions, this funding may not be forthcoming on a schedule or on
terms that facilitate the Company's plans. To view this news
release in HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/March2011/15/c2873.html
pPlease visit a
href="http://www.silvershieldresources.com"www.silvershieldresources.com/a
or contact:/p table border="0"trtd colspan="2"bSilver Shield
Resources Corp./b/td/tr trtd colspan="2"Tim Towers, Chief Executive
Officer,/td/tr trtd colspan="2"Donald Shaxon, Manager of Corporate
Development, (289) 838-5936/td/tr trtda
href="http://www.silvershieldresources.com/"www.silvershieldresources.com/a
br/ Phone: 289-337-6162
/td tda
href="mailto:silvershield@cogeco.net"silvershield@cogeco.net/abr/
Fax: 289-337-6678/td/tr/table
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