Silver Bear Resources has announced additional results from the drilling campaign of 2012 performed at the Mangazeisky silver property, which is situated in Yakutia, Russia.
The property houses over 100 silver occurrences in a key mineralized structure trending towards north-northwest, stretching along a 35 km corridor. The company has on its Mangazeisky property that outlined a NI 43-101 compliant mineral resource calculation of 1.7 Mt containing 30.5 Moz silver of Inferred mineralization and 1.1 Mt containing 17.9 Moz of silver of Indicated mineralization.
The company drilled two metallurgical test holes, as a part of this year’s exploration campaign, down dip in the resource area of Vertikalny. These holes returned positive results and were mainly drilled to capture mineralization in more tonnes for laboratory metallurgical testing program. They were drilled at the ore body’s down dip. Four metallurgical holes were drilled, wherein two holes were halted because of drilling problems.
According to Silver Bear Resources’ CEO and President, Mark Trevisiol, this shows the important grades in which the company considers that the Mangazeisky property has potential to deliver and is encouraging given that these reported results were from 74 m of surface. The company will test the resource model again to find if this intersection shows modification to Vertikalny’s overall resource.
The company announced the previous drill program results from other potential region near to the Vertikalny resource - Nizhny Endybal and is waiting for additional results. A potential inferred resource is being analyzed on this prospect.