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Silver Predator Corp
Symbol C : SPD
Shares Issued 41,791,468
Close 2012-06-18 C$ 0.185
Recent Sedar Documents

Silver Predator drills 4.6 m of 767.7 g/t Ag at Taylor

2012-06-19 10:33 ET - News Release

Mr. William Sheriff reports

SILVER PREDATOR REPORTS MULTIPLE INTERCEPTS INCLUDING 4.6 M OF 767.7 G/T AND 45.7 M OF 108.7 G/T SILVER FROM SURFACE AT TAYLOR, NEVADA

Silver Predator Corp. has provided results from the first 14 of 25 angled reverse circulation drill holes from its 2012 exploration program at the Taylor silver mine development project, located in White Pine county, Nevada. A total of 1,959 metres (6,425 feet) were drilled to both infill and expand the existing open pit resource, and test extensions of higher grade veins typical of the historic underground production at Taylor. Significant mineralization was encountered in 12 of the 14 holes. Highlights of the current release include:

  • SPT12-37 with 9.1 metres of 222.5 grams per tonne silver (30 feet of 6.32 ounces per ton) from a depth of 45.7 m;
  • SPT12-40 with 45.7 m of 108.7 g/t silver (150 feet of 3.17 ounces per ton) from surface;
  • SPT12-48 with 4.6 m of 767.7 g/t silver (15 feet of 22.39 ounces per ton) from a depth of 102.1 m.

Assays for the final 11 holes of the program's first phase are pending, and will be released on receipt of results and final quality assurance/quality control approval.

A complete table of results, location maps and detailed geological information can be found on the company's website.

Project geology, existing resource and mill complex

The Taylor silver deposit is an epithermal, low to high silica, largely oxidized, low-sulphide replacement deposit hosted by folded and faulted Devonian carbonate rocks of the Pilot shale, Guilmette and Joana formations intruded by Tertiary rhyolite dikes and sills.

The Taylor silver mine hosts an NI 43-101-compliant resource consisting of 1,123,000 tonnes grading 85.71 g/t silver as a measured mineral resource and 4,713,000 tonnes at 77.83 g/t silver classified as indicated, for a combined total of 14.9 million ounces of silver. In addition, the resource includes another 1.9 million ounces in the inferred category based on 687,000 tonnes grading 87.1 g/t silver. This resource estimate uses a 41.1 g/t silver cut-off grade (Hester, 2010). The company's Taylor project includes rights to a 1,320-ton-per-day mill with flotation and cyanide leach plants, water rights and approximately 3,900 acres of mining claims located near Ely, Nev.

Subsequent to the 2010 resource calculation, a total of 88 additional holes have been drilled. These drill results are being combined with surface and subsurface geologic mapping to build a new model for updating the current resource and mine plan, planned for late 2012.

Drilling and sampling methodology, quality control and quality assurance

All drilling to date in the 2012 Taylor drill program has been conducted by a reverse circulation drill rig, where 1.52 m (five-foot) samples are obtained. Sample quality for the project is generally high as all drilling is above the water table and the hole is blown clean after every 20-foot rod change.

ALS Chemex of Elko, Nev., and Vancouver, Canada, performed all primary lab analyses. Samples received in the lab were first logged in and assigned a barcode. The samples were then rotary split prior to crushing to retain a coarse sample for metallurgical work. The remainder was fine crushed to 70 per cent less than two millimetres then split with a riffle splitter with one split pulverized to 85 per cent at less than 75 microns to create the final pulp for assay. All samples were initially analyzed by aqua regia digestion and AAS. Samples exceeding 10 parts per million silver were run for silver by four-acid digestion using a two-gram nominal sample (pulp) weight with AA finish. Higher grade results above 750 ppm utilize a 0.5-gram pulp and are periodically checked with a fire assay analysis on a 30-gram pulp. Assay results for silver are reported by the lab in ppm units and all reported results are from the four-acid analyses. For public disclosure, ounce per imperial ton and gram per metric tonne is used, where 34.2857 ppm is equivalent to one ounce per ton and one ppm is equivalent to one g/t.

Samples were analyzed by ALS Chemex in Reno and Elko, Nev. All assays are reported as drilled intervals and are not to be interpreted as true widths. Refer to the company's news release dated July 5, 2011, for a complete discussion of sampling methods, quality control and assurance.

Mark Abrams, CPG, a qualified person as defined under NI 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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