TSX: SPD
www.silverpredator.com
VANCOUVER, April 10, 2012 /CNW/ - Silver Predator Corp. (TSX:SPD) (the "Company") is pleased to announce the start of a two-phase 2012 reverse circulation
drilling campaign at the Company's Taylor Project, located 15 miles (24
km)southeast of Ely, Nevada. The program calls for a minimum of 50
reverse circulation drill holes totaling approximately 15,000 feet
(4,700 m) and will consist of in-fill, 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 underway
with the goal of providing key inputs for a planned pre-feasibility
study, scheduled for commencement later in the year.
Current Taylor NI 43-101 Mineral Resources* |
Resource Class | Tonnes | Silver grams/tonne | Contained Silver Ounces |
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 41.1 g/t (1.2 oz/ton) silver cutoff grade. 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 (TSX:GPD).
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
expansion;
-
complete an updated resource estimate and technical report; and
-
initiate additional pre-feasibility 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 re-started 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.
Mr. 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.
About Silver Predator Corp.
Silver Predator's corporate mandate is to explore and develop
commercially viable silver resources in the leading US silver districts
of Nevada, Idaho and Alaska, with a developing portfolio in Yukon,
Canada. Working within stable geopolitical jurisdictions, Silver
Predator is focused on silver‐dominant bulk tonnage and high grade
exploration and near-term production opportunities. A management team
with a demonstrated record of building shareholder value, plus an
exploration team with a history of exploration success in the western
US and Yukon provide the ability to build on the current foundation
established from our quality asset base.
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein. This
press release contains projections and forward‐looking information that
involve various risks and uncertainties regarding future events. Such
forward‐looking information can include without limitation statements
based on current expectations involving a number of risks and
uncertainties and are not guarantees of future performance. There are
numerous risks and uncertainties that could cause actual results and
Silver Predator's plans and objectives to differ materially from those
expressed in the forward‐looking information. Actual results and future
events could differ materially from those anticipated in such
information. These and all subsequent written and oral forward‐looking
information are based on estimates and opinions of management on the
dates they are made and are expressly qualified in their entirety by
this notice. Except as required by law, Silver Predator assumes no
obligation to update forward‐looking information should circumstances
or management's estimates or opinions change.
<p> <b>Silver Predator Corp.</b><br/> <b>William M. Sheriff, </b>Chairman <i>or</i><br/> <b>Nathan A. Tewalt, </b>Chief Executive Officer<br/> (604) 648‐4653<br/> <a href="mailto:info@silverpredator.com">info@silverpredator.com</a><br/> <a href="http://www.silverpredator.com">www.silverpredator.com</a> </p>