Oct 20 2010
Silver Corporation (TSX:USA, OTCQX:USSIF, Frankfurt:QE2) has announced positive results from underground diamond drilling at the Galena mine near Wallace, Idaho.
U.S. Silver's on-going underground exploration program continues to identify significant new mineralized structures by following up on historic diamond drilling and investigating the many under-explored areas of the mine. During the third quarter, 13,524 feet (4,122 m) in 33 drill holes were completed. Three new veins and one down-dip extension have recently been defined by drilling and/or drifting.
Tom Parker, President and CEO of U.S. Silver stated, "We continue to enjoy success with our underground drilling program at Galena. Our ongoing ability to cost effectively add reserves well in excess of our production over the past 4 years appears to be on track for 2010. Total feet drilled is expected to be over 3 times the 2009 level. There remains substantial silver to be found on our properties and we are pursuing that goal at an increasingly aggressive rate."
DRILLING HIGHLIGHTS
Galena Mine, 306 Vein, 4900-5200 Levels
Favorable drill results identified the deeper extension of the 306 Vein from the 4900 Level to the 5200 Level. Galena crews initiated the 5200-288 cross cut south to intercept the vein. The crew has completed 475 feet (153 m) of track drifting and has crosscut the 306 vein. True width rib assays on the 306 Vein are as follows:
Initial drifting along strike of the exposed vein is in progress. To date, the vein has been exposed for 68 feet (21 m) with an average grade of 21.55 opt Ag (739 gpt) and 0.83 % Cu, over an average true with of 4.1 feet (1.25 m).
Galena Mine, Polaris Fault Zone, 4000 Level
A new silver-copper (Ag - Cu) vein structure, having approximately 350 feet (107 meters) of strike length is being defined on the 4000 Level. The vein has been identified in six of seven recently completed diamond drill holes. The vein is situated west of the No. 3 Shaft Station in the immediate footwall of the Polaris Fault, and is potentially related to an existing resource of 10,200 tons grading 25.34 ounces per ton (opt) Ag (869 grams per tonne), and 0.94% Cu, over an average width of 5.3 feet (1.62 m). Results of the six holes are as follows (vein widths are corrected for true thickness):
Track drifting to the new vein will be initiated in late October of this year
Galena Mine, New Vein, 4300 Level
A new silver-copper vein structure currently having approximately 50 feet (15 m) of strike length has been identified on the 4300 Level, within 50 feet of existing drift workings. The vein has been identified in two of six completed diamond drill holes. The four holes with negative results close the vein off to the east but it remains open to the west. Results of the drilling are as follows (vein widths are corrected for true thickness):
Follow-up drilling to extend the strike length of the vein is planned for December.
Galena Mine, 55 Vein, 5200 Level
A new silver-copper vein structure is being identified on 5200 Level. The 55 Vein has been identified in three of five completed diamond drill holes. The vein is situated east of the Galena Shaft station. Results from the three holes are as follows (vein widths are corrected for true thickness):
Design of a track drift to the new vein is currently being completed.
U.S. Silver continues to operate two contract diamond drills and one in-house drill at the Galena mine. Plans are to continue this level of drilling for the foreseeable future.
QUALIFIED PERSON
Information of a technical nature in this press release respecting the properties has been prepared and reviewed by Mr. Daniel H. Hussey, Manager of Exploration for U. S. Silver, who supervised the drilling and sampling programs. Mr. Hussey is a "Qualified Person" within the meaning of National Instrument 43-101 of the Canadian Securities Administrators.
All silver assay results reported in this new release were analyzed using standard fire assay techniques by American Analytical Services located in Osburn, Idaho. Check assays are conducted by ACT Labs, located in Ontario, Canada. All samples are obtained and assays are reported under a formal quality assurance program. Underground diamond drill core holes are drilled with BQ size tools.
Source: Silver Corporation