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Silver Standard Resources Inc.
Summary
| Project: | Chinchillas | |
|---|---|---|
| Deposit: | Chinchillas | |
| Location: | Argentina | |
| Commodities: | Silver-Lead-Zinc | |
| Date: | 5/31/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 31-5-2017: Silver Standard Resources Inc. announces a Pre-Feasibility Study report for its Chinchillas deposit at the Chinchillas project. Silver Standard rereleases Pre-Feasibility in support of JV formation with Golden Arrow. On September 30, 2015 Golde | |
| Resources: | (Reserve, P+P): 11.71Mt @ 154g/t Ag, 1.2% Pb, 0.49% Zn at project | |
| CP/QP: | [Resources]: Robert Sim (SIM Geological Inc.) | |
| ABSTRACT: | On September 30, 2015 Golden Arrow Resources Corporation (“Golden Arrow”), Silver Standard Resources Inc. (“Silver Standard”) and certain of their affiliates entered into an agreement (the “Agreement”) pursuant to which Golden Arrow granted to Silver Standard an option (the “Option”) to require the parties to form a joint venture to combine Golden Arrow’s Chinchillas property, comprised of its interest in a silver-lead-zinc deposit located in northern Argentina (the “Chinchillas Property”) and Silver Standard’s Pirquitas project which consists of the San Miguel open pit mine which ceased operations in January 2017 (the “Pirquitas Pit”) and the associated mineral processing facilities and proposed tailings facility (the “Pirquitas Operation”). On March 31, 2017 Silver Standard exercised the Option. The contribution of the shares of Valle del Cura S.A. (“VDC”), which owns the Chinchillas Property, and the units of Mina Pirquitas, LLC (“MPLLC”) which, through its Argentine branch, Mina Pirquitas, LLC Sucursal Argentina (“MPSA”), owns the Pirquitas Pit and the Pirquitas Operation, to Puna Operations Inc. (“POI”) is expected to close on or around May 31, 2017 (the “Transaction”). Upon closing of the Transaction, Golden Arrow will own 25% of POI and Silver Standard will own 75% of POI and POI will own the Chinchillas Property, the Pirquitas Pit and the Pirquitas Operation and their associated assets and liabilities. This Technical Report has been prepared on the basis that the Transaction has closed and that POI has indirectly acquired a 100% interest in the Chinchillas Property, the Pirquitas Operation and the Pirquitas Pit. The purpose of this Technical Report is to summarize and present the results of a pre-feasibility study (“PFS”) for the combined development of the Chinchillas Property and the Pirquitas Operation (the “Project”) under the guidelines of the Canadian Securities Administrators’ (“CSA”) National Instrument 43- 101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and Form 43-101F1 (CSA, 2011). | |
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