Mr. William Sheriff reports
SILVER PREDATOR INITIATES 2012 DRILLING PROGRAM AT ITS TAYLOR SILVER PROJECT
Silver Predator Corp. has started a two-phase 2012 reverse circulation
drilling campaign at the company's Taylor project, located 15 miles (24
kilometres) southeast of Ely, Nev. The program calls for a minimum of 50
reverse circulation drill holes totalling approximately 15,000 feet
(4,700 metres) and will consist of infill, step-out and exploration
drilling in preparation for updating the current resource estimate that
includes measured and indicated resources of 14.9 million ounces of
silver (Hester, 2010).
Additional metallurgical testing and permitting, along with an updated
evaluation of the current mill design and capacity, are also under way
with the goal of providing key inputs for a planned prefeasibility
study, scheduled for commencement later in the year.
CURRENT TAYLOR NI 43-101 MINERAL RESOURCES*
Resource class Tonnes Silver Contained silver
Measured resource 1,123,000 85.7 3,095,000
Indicated resource 4,713,000 77.8 11,793,000
Measured and indicated 5,836,000 79.3 14,888,000
Inferred resource 687,000 87.1 1,923,000
*At a silver cut-off grade of 41.1 grams per tonne (1.2 ounces
Note: Tonnes and g/t average grades converted from originally
reported imperial units.
It is important to note that the drill hole database used for the
current Taylor resource estimate, originally prepared in 2007, does not
include the 60 holes drilled since then by the company and its
predecessors, Fury Exploration and Golden Predator Corp.
2012 exploration program
The first phase of the drilling program is designed to upgrade the
quality of the current resource base on the project, focusing on the
patented claim block on which much of the historic underground mining
was conducted between 1875 and 1892, while the second phase will test
outlying extensions with the goal of defining additional silver
resources. Upon completion of permitting, the drill program is
planned to continue on the adjacent unpatented ground, where additional
drilling will step out beyond the current resource limits. A detailed
mapping program is planned to guide additional exploration for silver
and gold targets on the project later this summer.
Goals for the 2012 Taylor exploration program include:
- Confirmation and an upgrade of the current resources;
- Delineation of additional silver resources;
- Completion of a detailed geologic map to provide a framework for the
future resource estimates and additional silver/gold exploration;
- Drill testing of two or more gold targets;
- Completion of additional metallurgical and engineering studies;
- Updated evaluation of the existing mill and the potential for mill
- Complete an updated resource estimate and technical report;
- Initiate additional prefeasibility work.
Taylor was an active open pit silver mine from 1981 until 1984, when it
closed due to low silver prices. The Taylor mill was restarted in
1989 to process other ores in the area and closed in 1991. Extensive
metallurgical testing was conducted on the project in 2007 and 2008,
along with a tailings expansion design study ready for final
geotechnical field evaluation.
Mark J. Abrams, CPG, a qualified person as defined by National
Instrument 43-101 and employee of the company, has reviewed and
verified the technical information contained in this news release.
We seek Safe Harbor.
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