Silver Mountain Mines Releases Year-End Financial Results, Its Technical Report and Provides Corporate Update
02 April 2014 - 2:17AM
Marketwired
Silver Mountain Mines Releases Year-End Financial Results, Its
Technical Report and Provides Corporate Update
CALGARY, ALBERTA--(Marketwired - Apr 1, 2014) - Silver Mountain
Mines Inc. (TSX-VENTURE:SMM) ("Silver Mountain" or the "Company")
is pleased to release its year-end financial statements on SEDAR
(www.sedar.com) and an updated NI 43-101 Technical Report for its
wholly-owned Ptarmigan Property (the "Property"), located near
Radium, British Columbia.
Modeling the 2013 gravity data from the detailed grid area has
returned several exciting anomalies for subsequent follow-up in
2014. Two West-East sections
(http://www.silvermountainmines.com/maps.asp) illustrate the
results of modeling with respect to schematic results of relatively
shallow diamond drilling to date. The two sections show
representative, near surface drill intercepts of high grade Silver
and Gold mineralization interpreted as several sub vertical
parallel lenses and/or pods, up to 8m in horizontal thickness.
Gravity modeling and drill results from 100 drill holes are
interpreted to suggest potential for significant mineralization at
depth. Mineralization intersected to date is interpreted to
represent high level expressions of the larger potentially
mineralized gravity anomalies identified at depth. The potential
grade of expected mineralization is anticipated to be similar to
drill grades from intercepts previously released in 2012 and
surface sampling throughout the basin and sampling from the adits.
(http://www.silvermountainmines.com/reports.asp)
The lateral expression of the gravity anomalies is supported by
the results of surface sampling that extends over 2 km along a
north-trending fault system and exemplified by the Iron Cap Trend,
Hidden Vein and the West Zone. Surface mineralization, together
with mineralized intercepts from drilling, defines multiple
mineralized zones open along strike and to depth in the Ptarmigan
and Iron Cap basins.
Gravity anomalies are interpreted to represent composite manto-
and vein-style mineralization consisting of a network of high grade
silver sulphide and/or sulphosalt mineralization developed between
manto- and vein-style occurrences. Mineralization is hosted within
favourable horizons in the carbonate succession of the Middle
Dolomite of the Mount Nelson Formation.
"The compilation of our ground and airborne geophysics, surface
sampling, trenching and over 11,000 m of diamond drilling results
has been incorporated in our exploration model, which has provided
us with an expectation of intersecting semi-massive to massive,
high grade precious metals in the 2014 drill program,"
says Steve Konopelky, President and CEO.
The content of this news release has been reviewed by Rick
Walker, B.Sc., M.Sc., P. Geo., a Qualified Person for the purpose
of NI 43-101, with the ability and authority to verify the
authenticity and validity of the data herein.
About Silver Mountain Mines Inc. (TSX-VENTURE:SMM)
Silver Mountain Mines Inc. is a Canadian based exploration
and development company with 100% ownership of a 9,986 hectare
property centered on the historical silver rich Ptarmigan Mine in
south eastern, British Columbia. The property hosts two styles of
mineralization: silver rich, high-grade polymetallic epithermal
veins and manto style massive / semi-massive sulphide
mineralization.
For further information on Silver Mountain Mines Inc. please
visit the Company's website http://www.silvermountainmines.com and
SEDAR (www.sedar.com) or contact Mr. Steve Konopelky, President
& CEO of the Company.
This news release may contain forward-looking statements
including but not limited to comments regarding the timing and
content of upcoming work programs, geological interpretations,
potential mineral recovery processes, etc. Forward-looking
statements address future events and conditions and therefore
involve inherent risks and uncertainties. Actual results may differ
materially from those currently anticipated in such statements.
These statements are based on a number of assumptions and factors
that could cause actual results to differ materially from those in
forward looking statements Silver Mountain Mines Inc. does not
assume any obligation to update or revise its forward-looking
statements, whether as a result of new information, future events
or otherwise, except to the extent required by applicable law.
Neither the TSX-Venture Exchange nor its Regulation Services
Provider, as per the term defined in the policies of the TSX
Venture Exchange, accepts responsibility for the adequacy or
accuracy of the release.
ON BEHALF OF THE
BOARD
Steve Konopelky,
President and CEO
Silver Mountain Mines Inc.Steve KonopelkyPresident and
CEO403-229-9140steve@silvermountainmines.comwww.silvermountainmines.com
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