National Instrument 43-101 Technical Report Filed on SEDAR for Fairview Gold Property, Oliver, British Columbia
(via Thenewswire.ca)
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VANCOUVER, BC- Canada, June 24, 2013 - Hi Ho Silver Resources Inc. ("Hi Ho" or the "Company") (CNSX:HHS) reports that further to its News Release of May 8, 2013, the National Instrument 43-101 Technical Report was filed on SEDAR June 21, 2013.
On May 8, 2013, Hi Ho reported an initial resource estimate for the Silver Crown gold/silver deposit at the Company's Fairview Gold Property (the "Property). The mineral resource estimate comprises an inferred mineral resource of 334,000 tonnes averaging 2.9 g/t Au and 17.9 g/t Ag based on cut-off grade of 1.0 g/t Au (see table below). The resource is classified as an inferred mineral resource, consistent with the CIM definitions referred to in National Instrument 43-101.
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|Classification| Gold |Metric |Gold |Silver|Troy Gold|Troy |
| |Block Cut|Tonnes |Grade|Grade |Ounces |Silver |
| |Off (g/t)|(t) |(g/t)|(g/t) |(oz)** |Ounces |
| | | | | | |(oz)** |
|---------------------------------------------------------------|
|Inferred |0.5 |355,000|2.8 |17.2 |32,000 |196,000|
| |------------------------------------------------|
| |1.0 |334,000|2.9 |17.9 |32,000 |192,000|
| |------------------------------------------------|
| |1.5 |267,000|3.4 |19.8 |29,000 |170,000|
| |------------------------------------------------|
| |2.0 |209,000|3.8 |21.6 |26,000 |145,000|
| |------------------------------------------------|
| |2.5 |155,000|4.4 |24.1 |22,000 |121,000|
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*Inferred Mineral Resources are not Mineral Reserves. Inferred Mineral Resources do not have demonstrated economic viability, and may never be converted into Reserves.
**Contained ounces may not add due to rounding.
The Silver Crown Deposit comprises three closely-spaced, moderately northeast-dipping quartz veins that outcrop on surface, and are accessible by road. Historical drilling and underground workings, also currently accessible, have intersected mineralization over a 400 m strike length and to a depth of 100 m vertically.
The Company's Fairview Gold Property comprises 16 mineral claims, totaling 781 hectares, located approximately 4.5 kilometres west of the town of Oliver, in the southern Okanagan region of British Columbia. The Property occurs within the Fairview mining camp, one of the oldest in British Columbia. The earliest lode discoveries date to the late 1880's and occur along a vein system which strikes over four kilometers. Three areas, the Fairview, Stemwinder and Morningstar, have been mined at various times between 1895 and 1961 and exploration adits were also driven on the Brown Bear and Silver Crown prospects. British Columbia Ministry of Mines records indicate the total combined historic production from the Fairview camp exceeds 20,000 troy ounces of gold.
The Resource Estimate reported in this press release was prepared by Kristopher J. Raffle (P.Geo.) and Steven J. Nicholls (M AIG) of APEX Geoscience Ltd., both Independent Qualified Persons as defined by National Instrument 43-101. Mr. Raffle has reviewed and verified the technical portion of this news release as it relates to the Fairview Gold Property.
Hi Ho Silver Resources Inc. is a Canadian exploration company dedicated to the exploration of precious metals deposits across Canada. Hi Ho's principal asset is its 100% owned Fairview Gold Property. For further information on the Company and its projects, please contact Mr. Dennis McKnight.
On Behalf of the Board of Directors
Dennis McKnight,
President, Chief Executive Officer and Director
Hi Ho Silver Resources Inc.
Tel: 778-868-9424
Email: dennis@hihoresources.com
Website: www.hihoresources.com
The Canadian National Stock Exchange (CNSX) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this document. Company information can be viewed here: www.CNSX.ca Note: Further information regarding the Company can be found on SEDAR at www.SEDAR.com
FORWARD LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as planned exploration activities on the Property, the establishment of a NI 43-101 compliant resource on the Property, future business strategy, competitive strengths, goals, expansion, growth of the Company's businesses, operations, plans and with respect to exploration results, the timing and success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation and timing and results of future resource estimates or future economic studies.
Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "planned", "expects" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements are based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; the existence of weather conditions suitable for exploration activities; future prices of minerals; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
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