CALGARY, ALBERTA--(Marketwired - July 10, 2014) - Silver Mountain Mines Inc. (TSX VENTURE:SMM) ("Silver Mountain" or the "Company") is pleased to announce the commencement of its 2014 exploration field program at its wholly-owned Ptarmigan Mine property located near Radium, British Columbia (the "Property").
The 2014 exploration field program will include further gravity surveys in the Ptarmigan basin and an estimated 3,200 metres 2014 diamond drill program to test and confirm mineralized depth. The area surrounding the Property hosts an abundance of documented former producing mines, including the Mineral King, Blue Bell and Paradise Mines. The Company believes that currently identified mineralization could include both polymetallic Ag-Au-Cu-Pb-Zn veins and Ag-Au-Pb manto style mineralization.
Management's 2014 goal is to better define and increase both size and potential of the Ptarmigan Basin using all compiled data with updated interpretations from its 2012 and 2013 programs to strategically plan its 2014 exploration program.
Key highlights from prior programs (http://www.silvermountainmines.com/news.asp) in the Ptarmigan Basin to date include:
- A gravity survey that defined numerous gravity anomalies (previously released on January 22nd, 2014)
- At least two fault zones have been identified, hosting high grade Ag+/-Au+/-Cu+/-Pb+/- Zn mineralization with strike length of at least 1.4 km trending north-northeast from the Iron Cap through the Upper Ptarmigan and Ptarmigan Mine to the Dunwalk and then on to the North Ridge (http://www.silvermountainmines.com/maps.asp).
- The most significant mineralized zones tested by the 2012 drill program were in the Ptarmigan Mine area and a mineralized fault structure in the East Ptarmigan area. Drill result highlights include: 1,576 grams per tonne (g/t) silver (Ag) and 0.74 g/t gold (Au) over 0.6 metres (m) in PT 12-72; 433g/t Ag and 0.54 g/t Au over 1.4 m, including 666 g/t Ag and 0.79 g/t Au over 0.9 m in PT12-74; and, 9,680 g/t Ag and 8.48 g/t Au with 4.22% copper (Cu) over 0.3 m in PT12-75 (previously released, November 15th, 2012)
- Other drill intercepts includes: 452 g/t Ag over 6.8 m; 839 g/t Ag over 2.9 m; 1,642 g/t Ag over 1.1 m; and, 4,806 g/t Ag and 6.99 g/t Au over 0.3 m. (previously released on October 16, 2012)
The Company also announces that Mrs. Sandra Beaulieu has replaced Daryn Gordon as CFO. The Board of Directors and Management wish to thank Daryn for his valuable contributions and wish him success in his future endeavors. Mrs. Beaulieu is a Certified General Accountant with more than 20 years of experience working with junior public companies. Mrs. Beaulieu presently provides CFO and accounting services to several TSX Venture Exchange listed companies.
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 9,986 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. Neither the TSX-Venture Exchange nor its Regulation Services Provider, as per the term defined in the policies of the TSX Venture Exchange, accepts responsibility for the adequacy or accuracy of the release.
ON BEHALF OF THE BOARD
Steve Konopelky, President and CEO