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Message: New Sediment-Hosted Gold Mineralization Discovered at Taylor
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New Sediment-Hosted Gold Mineralization Discovered at Taylor Project, Nevada
Reno, Nevada, June 17, 2014: Silver Predator Corp. (TSX.V: SPD) (the "Company") is pleased to announce it has received assays for 14 reverse circulation holes designed to test outlying gold and silver target areas to the east and southeast of the current silver resource and 2 reverse circulation holes completed within the resource area. The most significant results, including hole SPT-66 with 18.3 meters of 1.02 g/t gold starting at surface, were concentrated in three holes drilled from a site immediately west of the Antimony prospect area. Further drillhole delineation of this gold enriched portion of the district will be a high priority during the next Taylor drill program.
Significant results include: All gold and silver mineralization encountered to date is considered oxide in nature. Summary Geology and Discussion Taylor, located approximately 15 miles southeast of Ely, Nevada, has been the site of intermittent historic underground and modern open pit silver production during the past 139 years. Between 2006 and 2012 Silver Predator and other companies focused their exploration efforts in and around the open pit mine workings to create a near surface pit-constrained silver resource prepared in accordance with NI 43-101 and CIM definitions and guidelines. The 2014 spring drilling program was primarily designed to test outlying gold and silver targets to the east and southeast of the current silver resource area. In these outlying areas, 14 reverse circulation (RC) drillholes totaling 11,745 feet were completed. An additional two RC holes totaling 885 feet were completed within the resource area near the Bulls Eye target. Drilling was designed to provide an initial test of the areas identified by detailed mapping and soil sampling as previously reported. Target areas typically displayed strong precious and indicator element geochemistry, prominent silicification, known or projected faults, felsic intrusive bodies as dikes and key host rock silty carbonate units. The most significant results obtained from the outlying target areas were concentrated in three holes drilled from a site immediately west of the Antimony prospect area, where potential bulk mineable gold mineralization starting from surface was encountered in all three holes (see map). Both holes drilled in the Bulls Eye target area intercepted strong silver zones in the Guilmette carbonates with significant added gold values associated with the cross cutting intrusives. Other widespread targets across the property encountered strong alteration in the upper Guilmette transition with the overlying Pilot Formation in all 14 drillholes, although no ore grade mineralization was found with this initial pass. Near Surface Intercepts- Antimony Prospect Area The Antimony prospect area, named for the small pit area where antimony was intermittently mined from silica flooded carbonates of the lower Chainman Formation over the past century, has a well demonstrated gold component known previously from surface soil and rock chip geochemistry, and limited historic drilling in the area. Three east-directed angle holes were drilled towards the prospect from a site located approximately 140 feet to the west and all three holes encountered significant gold intercepts starting at the surface as shown in the table below. SPT-75 was drilled approximately 220 feet to the northwest and appears to have cut the same silicified host rocks and Antimony Fault system from surface. Based on drillhole geology and detailed surface mapping in the area, this newly identified gold zone appears to be primarily bedding controlled with secondary structural controls and suggests that a sizable bulk mineable gold-only target may exist at surface throughout this area. Further drillhole delineation of this gold enriched portion of the district will be a high priority during the next Taylor drill program.  Near Surface Intercepts- Resource Area Bulls Eye Target Within the current silver resource envelope at Taylor, at least two areas are currently known to exhibit economically significant gold values associated with high grade silver zones, although gold potential is not currently included in the Taylor resource. One of these areas is along the southern portion of the Argus Fault, while a more recently identified gold bearing portion of the resource is being explored to the north in and around the intersection of the NW oriented Bulls Eye and N-S trending Feeder Fault zones. The Bulls Eye area precious metal distribution is unusual in that while strong silver values are associated with the silty carbonate host rocks of the upper Guilmette, anomalous gold mineralization is almost always hosted in the felsic dikes that intrude the Bulls Eye Fault zone. The intercepts in SPT 61 and 62 will provide additional information on the geometry of this zone as part of a targeting model that will be used for deeper drilling during the next Taylor drill program. Known receptive host rocks further down in the Guilmette have not been tested to date, but could provide deeper high grade potential for both silver and gold.  Maps   Sampling Methodology, Quality Control and Assurance All drilling to date in the 2014 Taylor drill program has been conducted by a reverse circulation drill rig, where 1.52m (5 foot) samples are obtained. Sample quality for the project is generally high as all reported drill intercepts were above the water table and the hole is blown clean after every 20 foot rod change. ALS Chemex of Elko, Nevada 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% less than 2 mm then split with a riffle splitter with one split pulverized to 85% at less than 75 microns to create the final pulp for assay. Sample results reported for SPT-61 and SPT-62 are based on 5 foot sample intervals, while SPT-64, 65, 66 and 75 are based on individual samples prepped on 5 foot intervals with 4 intervals composited to make a single 20 foot sample for assay. All samples were initially analyzed by aqua regia digestion for silver and fire assay for gold. Sample intervals exceeding 10 ppm silver were run for silver by four acid digestion using a 2 gram nominal sample (pulp) weight with AA finish. Higher grade silver results above 750 ppm utilize a 0.5 gram pulp and are periodically checked with a fire assay analysis on a 30 gram pulp. For public disclosure, ounce per imperial ton (oz/t) and gram per metric tonne (g/t) is used, where 34.2857 ppm is equivalent to 1 oz/t and 1 ppm is equivalent to 1 g/t. 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. The technical content of this news release has been reviewed and approved by Mark Abrams, MSc, CPG, a Consultant to the Company and a Qualified Person as defined by National Instrument 43-101. About Silver Predator Corp. Silver Predator’s corporate mandate is to advance the Springer Tungsten Mine and Mill towards production by obtaining a joint venture partner while advancing the Taylor Mine and Mill through continued exploration. The Springer Mine and Mill has a Preliminary Economic Assessment which outlines robust cash flow potential within 12 months of funding, including a 47% after-tax IRR on restart capital of $29.8 MM.(1) The Taylor Mine and Mill hosts a current silver resource and has the potential for the discovery of a new "Carlin-style" gold-silver district. With quality assets in a world-class jurisdiction, and an exploration team with a history of success in Nevada, Silver Predator is positioned to advance new and existing discoveries. For additional information: William M. Sheriff, Chairman
or
Nathan A. Tewalt, Chief Executive Officer (208) 635 5415 [email protected] www.silverpredator.com References: 1) National Instrument 43-101 Technical Report; Preliminary Economic Assessment of the Springer Tungsten Mine Pershing County, Nevada, by Associated Geosciences Ltd. dated December 31, 2013 (and effective August 20, 2012) filed on SEDAR. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 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 Predators’ 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. |
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