Mr. Tim Towers reports
SILVER SHIELD DISCOVERS ADDITIONAL HIGH GRADE IN NEW SHEAR ZONE SAMPLES 1799 G/T SILVER AT THE LA CUMBRE SILVER/GOLD PROPERTY MEXICO
Silver Shield Resources Corp. has sampled additional high-grade silver near the previously announced northeasterly trending
shear which returned 1.79 grams per tonne gold, 4,031 g/t silver and 6.18 per cent copper over 0.5 metre,
discovered as a result of a soil geochemistry survey at its 100-per-cent-owned
La Cumbre silver-gold property. The soil sampling program shows the
mineralized fault structure extends for at least 3,000 metres, or three kilometres, east-west with a northeast-trending cross structure indicating another 1,500 metres
of mineralization.
Further sampling from the new shear zone returned an assay of 0.89 g/t Au, 1,799 g/t Ag (52.5 ounces per ton), 6.72 per cent Cu, 0.08 per cent lead and 0.05 per cent zinc over 0.5 metre. A second trench eight metres southwest of the original trench returned 0.43 g/t
Au, 67.6 g/t Ag and 2.52 per cent Cu over 0.25 metre (from surface to 25 centimetres), and 0.024 g/t
Au, 35.1 g/t Ag and 0.57 per cent Cu (from 25 to 50 centimetres) from the same structure. Given
that the new shear zone has shown assays over length and width on surface,
it is now a credible drill target for the forthcoming winter 2011/2012
drilling campaign.
Two composite samples of malachite-rich quartz and quartz-breccia float
were taken in a north-sloped area about 700 metres north-northwest of the La
Cumbre shaft. The first sample returned 0.125 g/t Au and 19.8 g/t Ag
with high copper at 3.93 per cent, and the second sample returned 0.015 g/t Au
and 20.2 g/t Ag with significant copper of 2.05 per cent. These samples were
highly oxidized and leached, thereby potentially leaching the silver,
gold and other metals from the samples. The "northern slope" veining
potentially represents yet another new quartz-breccia vein system
discovered on the property. A total of 20 geochemical samples from the
immediate area are being assayed and it is hoped that they will point to
the source of the mineralized float.
Additional follow-up prospecting on the Au-Cu-Pb-Zn-Ag soil geochemical
survey identified a bull's-eye anomaly that returned
0.54 g/t Au, 135.4 g/t Ag and 6.7 per cent Cu from malachite-rich quartz-breccia
float pieces. This represents yet another mineralized area of the
property for further evaluation.
The company has recently been performing surface work at the site in
preparation for further exploration in late 2011. The La Cumbre
silver-gold property (7,000 hectares) had the first phase of drilling
performed in 2008. Company workers have performed maintenance on the
office building at the site and have performed initial small-scale
rehabilitation on the adits and shaft. The shaft and adits are being
evaluated for a potential development of the levels by contract miners.
An underground exploration development program is being planned that
will improve understanding of the vein structures in the mine, provide
continuous sampling along the veins, and provide material for bulk
sampling and mill metallurgical testing.
Tim Towers, chief executive officer, commented, "The La Cumbre silver-gold property is proving
itself to be a quality asset, which is further enhanced by the new
discoveries." With these new results, and a price of $1,820 (U.S.) for gold and $40 (U.S.) for
silver, the company is planning a phase 2 diamond drilling program for
early 2012. The company maintains its stated focus on acquiring and
developing gold and silver properties with near-surface mineralization
in order to minimize mining costs when developed. The La Cumbre
silver-gold mine is a past producer situated in an area with numerous
past producers and producers, being only 65 kilometres southwest of Farallon
Resources' Campo Morado mine (VMS) and 100 kilometres west of Goldcorp's Los Filos
mine (Au).
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