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Silver Standard Resources Inc.
Summary
| Project: | Marigold Mine | |
|---|---|---|
| Deposit: | Marigold Mine | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 11/7/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 7-11-2016: Silver Standard Resources Inc. announces an Exploration/Drilling Update report for its Marigold Mine deposit at the Marigold Mine project. Drilling results incl. 45.7m @ 1.93g/t Au from 0m at Mud Pit. VANCOUVER, B.C. -- Silver Standard Resource | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: James N. Carver (Internal) | |
| ABSTRACT: | VANCOUVER, B.C. -- Silver Standard Resources Inc. (NASDAQ: SSRI) (TSX: SSO) (“Silver Standard”) provides an update on its exploration activities at its Marigold mine in Nevada, U.S. and Seabee Gold Operation in Saskatchewan, Canada. Paul Benson, President and CEO said, “We are encouraged by these exploration results at Marigold and Seabee as they demonstrate resource growth potential. We expect our exploration activity at both operations will positively impact our 2016 Mineral Reserves statement, generating value for our shareholders. Infill and conversion drilling at Seabee indicate the potential to grow our Mineral Resources at that high-margin operation, while we broaden our scope in the district targeting a new discovery in 2017.” Exploration activities during the third quarter of 2016 focused on drilling oxide resource targets at the HideOut area and the adjoining Valmy property. The objective of our drilling activities is the expansion of Mineral Resources and their conversion to Mineral Reserves. We completed 13,408 meters of reverse circulation drilling in 50 drillholes on the HideOut and Valmy target areas, where previous results demonstrated potential for Mineral Resource addition or Mineral Reserve conversion. At HideOut, in addition to in-fill drilling, we extended the high-grade structure by 150 meters in the direction of the 8 South pit extension (“8SX”) zone. The most notable result was drillhole MRA6341, which intersected 3.25 g/t gold over 18.3 meters, including 7.13 g/t over 7.6 meters, as shown on Figure 1. Such results demonstrate the potential to increase Mineral Resources or convert to Mineral Reserves at Hideout. The 350-meter long area between the HideOut and the 8SX areas remains open for extension of the existing mineralized areas. Indicated Mineral Resources at HideOut and the 8 South areas totaled 350,000 ounces of gold as at December 31, 2015. | |
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