CALGARY, ALBERTA--(Marketwired - Oct. 7, 2014) - Silver Mountain Mines Inc. (TSX VENTURE:SMM) ("Silver Mountain" or the "Company") is pleased to announce further drill results from its wholly-owned Ptarmigan Property (the "Property"), located near Radium, British Columbia, including results from additional drill holes.
Significant results of weighted average drill intercepts include 4.60 metres grading 1,949 g/t Ag, 0.803 g/t Au and 0.72 % Cu, including 0.33 metres grading 22,945 g/t Ag, 5.75 g/t Au and 8.24% Cu and 1.49 metres grading 5,919 g/t Ag, 1.87 g/t Au and 2.18% Cu in hole PT14-118. These results increase the length of high grade silver-rich, massive sulphide mineralization documented by over 110 metres from the 2012 drill hole intercepts above the Level 1 workings and approximately 160 metres from massive sulphides exposed at surface at Adit #2. Mineralization remains open along faults to the south towards Iron Cap Basin.
Additional mineralized intercepts have been documented from the following holes: PT14-112 with 1.34 metres grading 1,208 g/t of Ag, 2.35 g/t Au and 1.26% Cu, including 0.29 meters grading 5,426 g/t Ag, 16.26 g/t Au and 3.21% Cu, PT14-116 with 1.0 metre grading 1,188 g/t of Ag, 0.55 g/t Au and 0.45% Cu, including 0.21 meters grading 5,261 g/t Ag, 2.18 g/t Au and 1.99% Cu and PT14-119 with 0.26 metres grading 5,243 g/t Ag, 2.20 g/t Au and 1.88% Cu. In addition, PT14-114 intersected 0.98 metres grading 0.64 g/t Au from a second intercept of massive sulphide mineralization at a shallower depth. These additional drill results, together with results previously released (see News Release dated Sept. 8, 2014) in the Ptarmigan Mine area confirm extension of massive sulphide mineralization remaining in the Level 1 workings. In addition, high grade intercepts documented at shallower levels suggest at least three mineralized structures within the target area.
"Our goal is to continue expanding the high grade mineralization and to further develop the potential of significant polymetallic manto/vein mineralization in a historically rich mineralized area. I believe results to date strongly support interpretations extending documented mineralization along the west margin of the Ptarmigan Basin southward toward mineralization documented within the Iron Cap Adits and the underground workings of the Nip and Tuck Mine. Together, these occurrences of known high grade mineralization demonstrate the discovery potential for additional well mineralized hidden targets throughout the property," says Steve Konopelky, President of the company.
Summary of significant results from additional intercepts:
| Drill Hole |
From (m) |
To (m) |
Width (m) |
Ag (g/t) |
Au (g/t) |
Cu (%) |
| PT14-108 |
59.84 |
59.90 |
0.06 |
249 |
1.18 |
0.11 |
| PT14-111 |
65.38 |
65.43 |
0.26 |
882 |
0.23 |
0.38 |
| PT14-112 |
146.67 |
147.07 |
0.40 |
1,810 |
2.35 |
1.26 |
| |
148.61 |
149.95 |
1.34 |
1,208 |
3.69 |
0.72 |
| includes |
149.30 |
149.59 |
0.29 |
5,426 |
16.26 |
3.21 |
| PT14-113 |
52.48 |
53.92 |
1.44 |
169 |
0.51 |
0.07 |
| includes |
52.48 |
53.20 |
0.72 |
294 |
0.42 |
0.12 |
| includes |
52.80 |
53.20 |
0.40 |
406 |
0.604 |
0.16 |
| includes |
53.59 |
53.92 |
0.33 |
63 |
1.25 |
0.03 |
| PT14-116 |
59.14 |
60.14 |
1.00 |
1,188 ** |
0.55 |
0.45 |
| includes |
59.14 |
59.46 |
0.32 |
19.1 |
0.159 |
0.01 |
| includes |
59.46 |
59.67 |
0.21 |
5,261 |
2.18 |
1.99 |
| includes |
59.67 |
60.14 |
0.47 |
165 |
0.08 |
0.07 |
| PT14-118 |
83.80 |
88.40 |
4.60 |
1,949 ** |
0.803 |
0.72 |
| and |
84.27 |
85.76 |
1.49 |
5,919 ** |
1.868 |
2.18 |
| includes |
83.80 |
84.27 |
0.47 |
42 |
0.33 |
0.01 |
| includes |
84.27 |
84.60 |
0.33 |
22,945 |
5.75 |
8.24 |
| includes |
84.60 |
85.14 |
0.54 |
594 |
1.10 |
0.28 |
| includes |
85.14 |
85.76 |
0.62 |
1,495 |
0.47 |
0.61 |
| includes |
85.76 |
86.48 |
0.72 |
61 |
0.69 |
0.02 |
| includes |
86.48 |
87.16 |
0.68 |
8 |
0.10 |
0.00 |
| includes |
87.16 |
87.45 |
0.29 |
250 |
0.56 |
0.15 |
| includes |
87.45 |
88.40 |
0.95 |
6 |
0.03 |
0.00 |
| PT14-119 |
56.52 |
56.78 |
0.26 |
5,243 |
2.20 |
1.88 |
| |
86.16 |
90.84 |
4.68 |
46.40 |
0.19 |
0.02 |
| includes |
86.16 |
87.00 |
0.84 |
180 |
0.31 |
0.09 |
| *True widths have not been calculated and are therefore not known at this time |
| ** Weighted averages. |
The results of further drill holes subsequently completed in the Ptarmigan Mine area will be released as results become available. Please see http://www.silvermountainmines.com/maps.asp for updated maps.
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 and shipped to AGAT's Toronto Laboratory for analysis following industry protocol for standards and blanks to ensure independent integrity of 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 9,986 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).
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