Silver Standard Resources Inc. (TSX:SSO)(NASDAQ:SSRI) (the "Company") reports that diamond drilling at its wholly-owned Brucejack Project continues to define gold-silver mineralization along strike and to depth at the Bridge and Galena Hill Zones. The Brucejack Project is adjacent to the Company's wholly-owned Snowfield Project located approximately 65 kilometers north-northwest of Stewart, British Columbia.
Galena Hill Zone
The Galena Hill Zone is host to disseminated gold-silver mineralization together with structurally-controlled high-grade veins. Results from three more holes have been received and the highlights of two of these are summarized below:
- SU-84, a step-out hole drilled on the southwest extension of Galena Hill, intersected 64 meters averaging 1.01 grams of gold per tonne, as well as 0.44 meters of 5,480 grams of gold per tonne and 2,140 grams of silver per tonne. The latter intersection encountered a high-grade zone similar to high-grade intercepts from the 2010 program in previously reported SU-40 (see news release dated July 12, 2010), SU-53 and SU-54 (see news release dated July 29, 2010) and SU-68 and SU-73 (see news release dated September 8, 2010).
- SU-86 intersected three bands of mineralization, with the longest intersection assaying 40 meters averaging 1.38 grams of gold per tonne.
Drilling at Galena Hill has both expanded the zone and defined the continuity of high-grade gold-silver mineralization. Galena Hill is open to the east and to depth.
Bridge Zone
The Bridge Zone, which exhibits porphyry-style gold-silver mineralization, measures approximately 600 meters by 900 meters, about three times the area defined in the 2009 drill program. Of the nine holes summarized in Table 1, the two best holes are the extension of hole SU-10 and SU-89. Highlights of these two holes included:
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Hole SU-10 was extended by 118 meters which averaged 0.99 grams of gold per tonne. The entire hole of 601 meters now averages 0.76 grams of gold per tonne, ending in mineralization.
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SU-89 intersected three bands of mineralization, the first with 62 meters averaging 1.17 grams of gold per tonne and the third interval with 334 meters averaging 1.02 grams of gold per tonne, ending in mineralization.
West Zone
Drilling at the West Zone, located 500 meters north of the Galena Hill Zone, has defined a northern extension measuring approximately 400 meters by 400 meters. A highlight of recent drilling is SU-88.
- SU-88 intersected 145 meters averaging 0.95 grams of gold per tonne. This north-oriented hole intersected continuous mineralization in the bottom half of the hole.
This drilling is part of an initial 42,000-meter program of infill and step-out drilling, subsequently expanded to 51,100 meters, on the Brucejack and Snowfield properties, of which 33,100 meters were dedicated to Brucejack. Drilling has now been completed for the 2010 season, although assays for a number of holes are outstanding and will be reported when received. A new resource update is anticipated in the first half of 2011.
Kenneth C. McNaughton, M.A.Sc., P.Eng., Senior Vice President, Exploration, Silver Standard Resources Inc., is the Qualified Person responsible for Silver Standard's exploration programs.
Source: Silver Standard Resources Inc.