Huldra Silver Inc. Announces 2011 Exploration Plans for Treasure Mountain
16 May 2011 - 11:00PM
Marketwired
Huldra Silver Inc. (TSX VENTURE: HDA) (the "Company" or "Huldra")
is pleased to announce the Company's 2011 exploration plans for its
100% owned Treasure Mountain Property. The objective of the program
is to expand the existing resources on the developed area of the
underground and further explore the property. These plans include
underground drilling, surface drilling, soil geochemistry,
trenching, prospecting and field geology.
Underground Exploration
An underground drill program is currently being designed to
upgrade the existing resource and test for additional
mineralization by infill drilling along strike and at depth. The
current underground development consists of 2750 metres of drifts
and raises on 4 levels. The total vein indicated resource,
estimated at 11.02 ounces silver per tonne (10.0 oz silver per ton)
cut-off grade, is reported as 33,000 tonnes with 26.68 ounces
silver per tonne, 4.16% lead and 3.80% zinc, containing 880,000
ounces silver, 3,030,000 lbs. lead and 2,760,000 lbs. zinc. Total
vein inferred resource, estimated at the same cut-off grade (11.02
ounces silver per tonne) is reported as 120,000 tonnes with 29.76
ounces silver per tonne, 2.79% lead and 4.36% zinc, containing
3,580,000 ounces silver, 7,370,000 lbs. lead and 11,540,000 lbs.
zinc.
East Zone
An open cut has been designed to further explore and define the
East Zone where trenching and diamond drilling exposed a high grade
silver and lead vein (See December 6, 2010 press release). The
purpose of the program is to take a bulk sample of the material and
further delineate the structure. This work is expected to commence
in June as soon as the necessary infrastructure is on site.
JK Vein
The JK vein was discovered during a trenching program late in
the 2010 exploration program. Two shallow holes were drilled on the
western end of the structure. However, the material was partially
oxidized close to surface. Initial drilling in 2011 will
concentrate on the JK vein based on the size of the structure and
the encouraging initial results from trenching. Drilling in the
area will also step off the JK vein to the north and south to test
for extensions of the East Zone along other mineralized dykes. The
diamond drill program will consist of a minimum 2500 metres NQ size
core.
MB Zone
The MB Zone is approximately 800 metres northwest of the current
mine workings. Surface samples were taken from an exposed area of
fractured argillite in 2010 and assays were reported as high as
9221g/t Ag (Aug. 25, 2011, press release). A soil geochemistry
program will be conducted over this area in 2011 with a diamond
drill program to follow.
Jensen Portal
The Jensen Portal is 400 metres west of the current underground
workings. The area has had limited modern exploration conducted on
it and any information is prior to 43-101 regulations. The veins
were historically reported being brecciated with Ag, Pb, and Zn and
covered by a diorite cap. The location of the small underground
workings is coincident with two intersecting faults. A drill
program is being designed to follow up on historical results.
Camp Zone
A geochemical testing program conducted in 1996 identified a
large soil anomaly below the Jensen Portal, near the base of the
mountain, that was followed up with one drill hole that did not
penetrate the overburden and a second drill hole that may have
missed the target. The Company is planning further geochemical
testing in the area to be followed up with a diamond drill
program.
A map of the 2011 exploration targets can be viewed on the
website www.huldrasilver.com.
Technical information in this news release has been reviewed and
approved by Jim Cuttle, P. Geo, a Qualified Person as defined by NI
43-101. Details of the Company's Treasure Mountain property can be
found in its NI 43-101 technical report entitled "Technical Report,
Resource Estimation, Mining and Reclamation Plan and Economic
Evaluation, Treasure Mountain Property" dated June 15, 2009, as
revised July 2, 2009, which is available on SEDAR at
www.sedar.com.
About Huldra
Huldra is currently working on plans to put its Treasure
Mountain Project, located 3 hours east of Vancouver, BC, into
development, subject to permitting and financing. The Company is
also actively assessing other opportunities for acquisition and
development.
On behalf of the Board of Directors
Ryan Sharp, MBA, President, CEO & Director
Disclaimer for Forward-Looking Information
This press release contains projections and forward-looking
information that involve various risks and uncertainties regarding
future events related to the Company's proposed 2011 exploration
plans and its plans to put the Treasure Mountain project into
production. Such forward-looking information can include statements
based on current expectations involving a number of risks and
uncertainties and are not guarantees of future performance of the
Company, such as the Company's ability to finance its planned
exploration; the Company's ability to source the necessary
infrastructure to effect its exploration plans; current economic
conditions and the state of mineral exploration and mineral prices
in general. These risks and uncertainties could cause actual
results and the Company's plans and objectives to differ materially
from those expressed in the forward-looking information. Due to
conditions precedent to closing, and the risk that these conditions
precedent will not be satisfied, the Company can offer no assurance
that the mill or tailings facility will be completed in the time
expected or at all. These and all subsequent written and oral
forward-looking information are based on estimates and opinions of
management on the dates they are made and expressly qualified in
their entirety by this notice. Except as required by law, the
Company assumes no obligation to update forward-looking information
should circumstances or management's estimates or opinions
change.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Contacts: Huldra Silver Inc. Ryan Sharp 604-647-0142
604-647-0143 (FAX) ryan@huldrasilver.com or IR@huldrasilver.com
www.huldrasilver.com
(TSXV:HDA)
Historical Stock Chart
From Jun 2024 to Jul 2024
(TSXV:HDA)
Historical Stock Chart
From Jul 2023 to Jul 2024