British Columbia, Canada
.
tnw
(via Thenewswire.ca)
VANCOUVER, BC- Canada, May 27, 2013 - Hi Ho Silver Resources Inc. ("Hi Ho" or the "Company") (CNSX:HHS) is pleased to announce plans for completion of surface trenching and bulk sampling of the Silver Crown Deposit, within the Company's Fairview Gold Property, near Oliver, BC, Canada.
The Company is in the process of submitting a Mineral and Coal Notice of Work (MX NoW) permit application to the BC Ministry of Energy and Mines detailing a proposed surface trenching and 1,000 tonne surface bulk sample program for the Fairview Gold Property. The 2013 Fairview Gold Property exploration program will include surface trenching, geologic mapping, rock geochemical sampling and the collection of a 1,000 tonne bulk sample from gold-silver bearing quartz veins at the Silver Crown Deposit. The program is designed to determine the grade and surface continuity of the Silver Crown vein system as modeled from a total of 48 historic diamond drillholes and one RC hole totaling 4,425 metres (m). In addition, channel sampling of wall-rock intervals separating the three parallel quartz veins comprising the Silver Crown Deposit, which were not routinely sampled historically, is planned to determine the potential for additional zones of mineralization.
The Silver Crown Deposit comprises three closely-spaced, moderately northeast-dipping quartz veins that outcrop on surface, and are accessible by road. Historical drilling and underground workings, also currently accessible, have intersected mineralization over a 400 m strike length and to a depth of 100 m vertically. The Company recently announced an initial resource estimate for the Silver Crown Deposit comprising an Inferred Mineral Resource of 334,000 tonnes averaging 2.9 grams-per-tonne ("g/t") gold (Au) and 17.9 g/t silver (Ag), for a total of 32,000 ounces (oz) Au and 192,000 oz Ag (at a gold block cut-off grade of 1.0 g/t) (See the Company's news release dated May 8, 2013). The resource is classified as an Inferred Mineral Resource, consistent with the CIM definitions referred to in National Instrument 43-101. Inferred Mineral Resources are not Mineral Reserves. Inferred Mineral Resources do not have demonstrated economic viability, and may never be converted into Reserves.
The 2013 Fairview Gold Property exploration program is supervised by Kristopher J. Raffle, P.Geo. (BC), Principal and Consultant of APEX Geoscience Ltd., Edmonton, AB, who is the qualified person for the project as defined by National Instrument 43-101. Mr. Raffle has reviewed the portion of the technical content of this news release as it relates to the Fairview Gold Property.
Hi Ho Silver Resources Inc. is a Canadian exploration company dedicated to the exploration of precious metals deposits across Canada. Hi Ho's principal asset is its 100% owned Fairview Gold Property. For further information on the Company and its projects, please contact Mr. Dennis McKnight.
On Behalf of the Board of Directors
Dennis McKnight,
President, Chief Executive Officer and Director
Hi Ho Silver Resources Inc.
Tel: 778-868-9424
Email: [email protected]
Website: http://www.hihoresources.com/">www.hihoresources.com
