Silver Bear intersects 114 meters of 97 g/t of silver near surface, includes 37 meters of 200 g/t of silver containing 8 meters of 602 g/t of silver
Thursday, Aug 09, 2012
Silver Bear Resources Inc. ("Silver Bear" or the "Company") (TSX:SBR) is pleased to announce early drill results from its 2012 drill program on its Mangazeisky silver property located in Yakutia, Russia (the "Property").
As shown in Figure 3, the Property hosts more than 100 silver occurrences in a major North-Northwest trending mineralized structure that stretches along a 35 kilometre corridor. Drilling has confirmed management's belief in the potential to increase the current NI 43-101 compliant mineral resource estimate of 1.1 million tonnes containing 17.9 million ounces silver at 518 g/t Ag of 'Indicated' mineralization and 1.7 million tonnes containing 30.5 million ounces silver at 562 g/t Ag of 'Inferred' mineralization, as set out in its technical report dated September, 2011 (see Press Release, September 28, 2012).
As part of the 2012 exploration program, a follow-up on a prospective area called Nizhny Endybal was planned. Approximately 2,500 meters of drilling have been completed this year in this area and roughly 1,000 meters more in 2011, the last two drill seasons on this prospect. Silver Bear has now received some of the early assay results with more pending laboratory completion.
Commenting on the early results, Mark Trevisiol, President and CEO of Silver Bear said, "We believe these results enhance our potential to expand our current Silver resources and reinforces management's belief that there are potentially numerous "satellite" deposits to augment our existing feed supply from our defined Vertikalny resource area. This extra potential feed source is currently outside of the Preliminary Economic Assessment ("PEA") released last year."
A Quality Assurance/Quality Control program is part of the drilling program on the Mangazeisky deposits. This program includes chain of custody protocols as well as systematic submittals of standards, duplicates and blank samples into the flow of samples produced by the drilling. Prior to 2011 analysis was carried out at Russian certified laboratories in Yakutsk and Aldan. Analysis for 2012 was completed by ALS Chemex in Chita, Russia.
Mr. P. Gribble, FIMMM C.Eng, of Tetra Tech (formerly Wardrop), is the independent qualified person who prepared the mineral resource estimates disclosed herein, and has reviewed the scientific and technical information contained in this news release. Tetra Tech completed a NI 43-101 Technical Report supporting the mineral resource estimate. Tetra Tech also completed the preliminary economic assessment ("PEA") discussed in this news release, released by Silver Bear September 28, 2011.
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