Silver Mountain Mines Begins 2013 Exploration Program
CALGARY, ALBERTA--(Marketwired - Jul 23, 2013) - Silver Mountain Mines Inc. (TSX VENTURE:SMM) ("Silver Mountain" or the "Company") is pleased to announce that its 2013 exploration field program has commenced at its wholly-owned Ptarmigan Mine property located near Radium, British Columbia.
The 2013 exploration field program will include:
- Rock and soil sampling, a gravity survey, trenching and geological mapping throughout the property. See the 2012 geochemistry map on the Company's website at: http://www.silvermountainmines.com/downloads/SMM_2012_GeochemistryMap.pdf
- Continued onsite definition of the scope of a bulk extraction program and completion of supporting documentation for submission of the required permit application.
The gravity survey will be used to understand geological and structural controls related to mineralization on the Ptarmigan Mine property. Previous drilling has confirmed the presence of a fault-controlled mineralization within the Ptarmigan basin. This mineralization is interpreted to extend both north (North Ridge) and south (Hidden Vein and Iron Cap Trend) of the Ptarmigan Basin. Silver Mountain believes the gravity data will assist in the identification and delineation of both known and unknown subsurface structures and depth to mineralization.
"Accurate acquisition and interpretation of geophysical data has proven integral to successful exploration in many mining jurisdictions," states Steve Konopelky, President of Silver Mountain Mines Inc. "The Ptarmigan Project is no different. Geochemical sampling results from 2012 of 308 g/t Ag (9.00 oz/T Ag) and 12,346 g/t Ag (360.85 oz/T Ag indicates strong potential for identification of additional areas of high grade mineralization on the property. The gravity survey is designed to better define such areas for subsequent drilling."
During the first quarter of 2013, the company revised the parameters for a proposed bulk extraction program based on the final results from metallurgical studies completed in 2012 by ACME Metallurgical and through consultation with MetSolve Laboratories Inc. and Sepro Mineral Systems Corp.
A Phase II study consisting of the collection of additional geological, mineralogical and metallurgical information has been initiated to determine the feasibility of a bulk sample extraction of up to 10,000 tonnes from the historic Ptarmigan Mine.
About Silver Mountain Mines Inc.
Silver Mountain Mines Inc. is a Canadian based exploration and development company with 100% ownership of a 9,300 hectare property centered on the historical silver rich Ptarmigan Mine in south eastern, British Columbia. The property hosts two styles of mineralization: silver rich, high-grade polymetallic epithermal veins and manto style massive / semi-massive sulphide mineralization.
For further information on Silver Mountain Mines Inc. please visit the Company's website http://www.silvermountainmines.com and SEDAR (www.sedar.com).
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions and factors that could cause actual results to differ materially from those in forward looking statements Silver Mountain Mines Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
Neither the TSX-Venture Exchange nor its Regulation Services Provider, as per the term defined in the policies of the TSX Venture Exchange, accepts responsibility for the adequacy or accuracy of the release.
ON BEHALF OF THE BOARD
Steve Konopelky, President and CEO
