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Silver Bear Resources Plc
Summary
| Project: | Mangazeisky | |
|---|---|---|
| Deposit: | Sterzhnevoy, Porphirovy | |
| Location: | Russia | |
| Commodities: | Silver | |
| Date: | 11/28/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 28-11-2016: Silver Bear Resources Plc announces a Resource Estimation report for its Sterzhnevoy, Porphirovy deposit at the Mangazeisky project. Initial mineral resource estimate for the Sterhnevoy and Porphirovy deposits. October 14, 2016 – Toronto, Onta | |
| Resources: | (Inf): (Porphirovy) 0.08Mt @ 1.7g/t Au, 46g/t Ag, 0.6% Cu. (Sterzhnevoy) 0.048Mt @ 1530g/t Ag | |
| CP/QP: | [Resources]: Joseph Hirst, Rober Davies (Tetra Tech/Coffey Mining Ltd.) | |
| ABSTRACT: | October 14, 2016 – Toronto, Ontario – Silver Bear Resources Inc. ("Silver Bear" or the "Company") (TSX: SBR) is pleased to announce the maiden Mineral Resource for two additional deposits, the Sterzhnevoy and Porphirovy, located within haulage distance of the Vertikalny mine development at the Mangazeisky Silver Project in the Republic of Sakha (Yakutia), Russia. The NI 43-101 Technical Report prepared by Tetra Tech will be filed on SEDAR within 45 days of this release. Silver Bear’s CEO, Graham Hill commented: “On the heels of our Vertikalny resource upgrade, we have once again increased our mineral resource inventory, demonstrating the exploration potential of the Mangazeisky licence. In addition, the Sterzhnevoy discovery has an Inferred resource grade of 1,500 g/t silver similar to that of the Vertikalny deposit. Like Mangazeisky North and South deposits, both the Sterzhnevoy and Porphirovy discoveries are within a short distance of the Vertikalny mine development, supporting our goal to increase resources and mine life by establishing a multi-pit single plant mining operation. In keeping with this objective, the Company has engaged Tetra Tech to complete a preliminary economic assessment (“PEA”) on the Mangazeisky North deposit, with the intention of incorporating it into the Vertikalny mine plan further enhancing the attractive economic; October Feasibility Study pre-tax NPV, at a 5% discount, of US$132.6 million and a pre-tax IRR of 86.1%." | |
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