VANCOUVER, British Columbia,
Aug. 8, 2016 /PRNewswire/
-- 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 its Seabee Gold Operation in
Saskatchewan, Canada.
Highlights:
- At the Marigold mine, we conducted Mineral Resource development
drilling in the Mackay North area and the Valmy property with the objective to convert
Mineral Resources to Mineral Reserves. Highlighted results include:
- At HideOut, drillhole MR6270 intersected 1.96 g/t gold over
93.0 meters from 144.8 meters below surface;
- At Valmy, drillhole MR6283
intersected 1.65 g/t gold over 59.4 meters from 91.4 meters below
surface; and
- At Terry Zone North, drillhole MR6185 intersected 1.56 g/t gold
over 39.6 meters from 176.8 meters below surface.
- Completed the Assay Program at the Marigold mine with results
consistent with our 2015 results that contribute to a longer dated
production and cost outlook for the Marigold mine later in the
third quarter.
- The Seabee Gold Operation reports positive exploration drill
results from an area outside existing Mineral Resources down plunge
from the Santoy 8A production area. Highlighted results include:
- At Santoy 8A, drillhole SUG-16-912 intersected 39.06 g/t gold
over 2.7 meters of true width;
- At Santoy 8A, drillhole SUG-16-908 intersected 15.38 g/t gold
over 6.0 meters of true width; and
- At Santoy 9A, drillhole JOY-16-701 intersected 52.80 g/t gold
over 2.1 meters of true width, as previously reported.
Paul Benson, President and CEO
said, "We are pleased with the positive exploration results at the
Mackay North area at Marigold, where we continue to encounter
mineralization with higher gold grades outside current Mineral
Reserves. In addition, we are focused on driving exploration
efforts at the Valmy property to
add to and convert Mineral Resources. We also look forward to
providing a revised outlook for the Marigold mine in the third
quarter, based on our Assay Program, operational improvements and
exploration results."
"At the Seabee Gold Operation, exploration results in a new
mineralized area demonstrate continuity and potential to add to our
Mineral Resources at the Santoy mine complex. The ultimate goal of
our work at both operations is mine life extension and improved
operating margins."
Marigold mine, U.S.
Exploration activities in the second quarter of 2016 at the
Marigold mine focused on drilling at each of the HideOut, Terry
Zone North ("TZN") and 8 South pit extension ("8SX") areas and on
the adjacent Valmy property. The
objective of these drilling activities is to convert Mineral
Resources to Mineral Reserves and to expand Mineral Resources, in
certain instances. Two track–mounted rigs completed 15,575 meters
of reverse circulation drilling in 73 drillholes on our targets,
where previous results show potential for Mineral Resource
additions. At TZN, mineralization is open to the south, while the
500-meter long corridor between the HideOut and the 8SX areas has
only two drillholes and remains open to the north and south,
respectively.
Figure 1 shows a plan map of drilling activities during the
second quarter. Drill results demonstrate the presence and
continuity of higher-grade structures with additional drillhole
results pending. The best result from this period's drilling
program was drillhole MR6270, which intersected 1.96 g/t gold over
93.0 meters, including 5.01 g/t over 32.0 meters at HideOut. At
TZN, the best result was drillhole MR6185, which intersected 1.56
g/t over 39.6 meters, including 3.92 g/t over 13.7 meters. Table 1
lists all drill results for the second quarter of 2016, while Table
2 lists the collar coordinates and drillhole lengths.
Exploration results continue to illustrate the potential to
expand the existing Mineral Resources estimate. Indicated Mineral
Resources at HideOut and the 8 South areas totaled 350,000 ounces
of gold as at December 31,
2015.
Valmy Property
Drilling at the Valmy property,
including the Valmy and Mud pits,
commenced in May 2016, with 3,275
meters of reverse circulation drilling in 17 drillholes completed
during the second quarter. The most notable drill result is
drillhole MR6283, which intersected 1.65 g/t gold over 59.4 meters
from 91.4 meters below surface. The Valmy mineralization is open to the south, and
in the second half of 2016 we expect to drill outside of the
current pit areas, including the eastern extension of the Basalt
pit mineralization.
Indicated Mineral Resources at the Basalt pit, on Marigold
tenures, comprised 80,000 ounces of gold, while Inferred Mineral
Resources at the Valmy property
totaled 300,000 ounces of gold as at December 31, 2015, respectively.
Assay Program
During the second quarter 2016, we assayed 27,079 samples
pursuant to our assay program (the "Assay Program") initiated in
2015. This was completed during the quarter with a total of
52,600 samples assayed in 2016. Results of the Assay Program
in 2016 are consistent with results achieved in 2015 and provide
better spatial definition of the lower grade portions of the Mackay
pit.
The results of the Mackay North area exploration activities and
the Assay Program are being applied, where applicable, to the
Marigold life of mine plan. Based on this work and considering
other improvements to the operation, including the addition of
three haul trucks, we expect to disclose longer dated production
and cost outlook for the Marigold mine later in the third quarter
of 2016.
Seabee Gold Operation, Canada
For 2016, the operation planned 65,000 meters of underground
drilling and 18,000 meters of surface drilling to increase and
convert Mineral Resources. During the second quarter, exploration
activities have focused on the Santoy mine complex.
Since March 2016, a total of 67
drillholes have been drilled to infill the Santoy Gap 9A, 9B and 9C
mineralized quartz vein structures. During the first half of 2016,
29,775 meters were drilled underground at the Santoy mine complex
for infill and exploration purposes. We drilled six holes in a new
area down plunge from the Santoy 8A structure that returned gold
grades above Mineral Resource cut-off grade, and intend to conduct
further drilling in this area. Figure 2 shows the Santoy mine
complex drill results relative to its Mineral Resources estimate as
at December 31, 2015, projected onto
a longitudinal section. Table 3 lists all drill results for the
Santoy mine complex received in the second quarter of 2016.
At the Seabee mine, five holes of a planned seven-hole drill
program were completed on the 15 Vein target, which is a
mineralized structure offset along the 19 shear. At the
Carr target, located near surface,
four kilometers along strike to the north from the Santoy mine
complex, we drilled approximately 2,500 meters in nine drillholes
over a two-kilometer strike length. At the Herb West target,
located 2,200 meters west-north-west of the Seabee mine, we drilled
approximately 1,130 meters in four drillholes. Results from
drillholes at these three targets revealed quartz-vein structures
with gold-bearing mineralization and warrant follow-up
drilling.
Next Steps
During the second half of 2016 at the Seabee Gold Operation, our
focus will be on infill drilling at the Santoy Gap to convert
Inferred Mineral Resources to Mineral Reserves. At surface, our
drilling focus for the second half will be on exploring laterally
and down plunge to extend mineralization at the Santoy mine
complex.
All drilling and exploration results will be included in an
updated estimate for the Seabee Gold Operation reported in our
annual 2016 Mineral Reserves and Mineral Resources statement to be
published in the first quarter of 2017.
Table 1. Drillhole results from the second quarter of the 2016
exploration drill program at the Marigold mine, Nevada, U.S.
Hole ID
|
From
(meters)
|
To
(meters)
|
Width
(meters)
|
Gold Grade
(g/ tonne)
|
Area/Comment
|
MR6184
|
|
|
|
|
Hole
Abandoned
|
MR6185
|
108.2
|
112.8
|
4.6
|
0.21
|
TZN
|
|
128.0
|
141.7
|
13.7
|
0.15
|
|
|
176.8
|
216.4
|
39.6
|
1.56
|
|
|
176.8
|
190.5
|
13.7
|
3.92
|
(including)
|
|
216.4
|
222.5
|
6.1
|
0.46
|
|
|
233.2
|
242.3
|
9.1
|
0.19
|
|
MR6217
|
0.0
|
89.9
|
89.9
|
0.12
|
Hideout
|
|
169.2
|
225.6
|
56.4
|
0.22
|
|
|
242.3
|
245.4
|
3.0
|
0.19
|
|
MR6220
|
0.0
|
94.5
|
94.5
|
0.13
|
8Sx Mineralized
Stockpile
|
MR6222
|
0.0
|
64.0
|
64.0
|
0.10
|
8Sx Mineralized
Stockpile
|
MR6223
|
0.0
|
103.6
|
103.6
|
0.10
|
8Sx Mineralized
Stockpile
|
MR6225
|
0.0
|
76.2
|
76.2
|
0.08
|
HideOut
|
|
190.5
|
214.9
|
24.4
|
1.18
|
|
|
202.7
|
214.9
|
12.2
|
2.19
|
(including)
|
|
216.4
|
217.9
|
1.5
|
0.57
|
|
|
222.5
|
234.7
|
12.2
|
0.36
|
|
|
246.9
|
249.9
|
3.0
|
0.12
|
|
MR6226
|
0.0
|
99.1
|
99.1
|
0.15
|
HideOut
|
|
298.7
|
301.8
|
3.0
|
0.23
|
|
MR6227
|
0.0
|
109.7
|
109.7
|
0.12
|
8Sx Mineralized
Stockpile
|
MR6228
|
134.1
|
163.1
|
29.0
|
0.26
|
TZN
|
|
189.0
|
210.3
|
21.3
|
1.75
|
|
|
198.1
|
210.3
|
12.2
|
2.69
|
(including)
|
|
210.3
|
228.6
|
18.3
|
0.19
|
|
MR6229
|
0.0
|
79.2
|
79.2
|
0.10
|
HideOut
|
|
150.9
|
201.2
|
50.3
|
1.27
|
|
|
182.9
|
195.1
|
12.2
|
2.72
|
(including)
|
MR6230
|
125.0
|
167.6
|
42.7
|
0.69
|
TZN
|
|
140.2
|
147.8
|
7.6
|
2.16
|
(including)
|
|
173.7
|
199.6
|
25.9
|
0.61
|
|
MR6231
|
97.5
|
163.1
|
65.5
|
0.35
|
TZN
|
|
121.9
|
126.5
|
4.6
|
2.21
|
(including)
|
|
176.8
|
184.4
|
7.6
|
0.41
|
|
|
184.4
|
199.6
|
15.2
|
0.16
|
|
MR6232
|
88.4
|
172.2
|
83.8
|
0.51
|
TZN
|
|
149.4
|
157.0
|
7.6
|
2.06
|
(including)
|
|
172.2
|
182.9
|
10.7
|
0.99
|
|
|
182.9
|
199.6
|
16.8
|
0.65
|
|
MR6233
|
0.0
|
73.2
|
73.2
|
0.15
|
HideOut
|
|
73.2
|
86.9
|
13.7
|
0.13
|
|
|
106.7
|
112.8
|
6.1
|
0.19
|
|
MR6234
|
0.0
|
74.7
|
74.7
|
0.07
|
HideOut
|
|
74.7
|
86.9
|
12.2
|
0.28
|
|
|
102.1
|
105.2
|
3.0
|
0.14
|
|
|
121.9
|
126.5
|
4.6
|
0.64
|
|
MR6235
|
0.0
|
74.7
|
74.7
|
0.13
|
HideOut
|
|
93.0
|
94.5
|
1.5
|
0.13
|
|
MR6236
|
0.0
|
68.6
|
68.6
|
0.10
|
HideOut
|
|
80.8
|
96.0
|
15.2
|
0.48
|
|
MR6237
|
44.2
|
47.2
|
3.0
|
0.13
|
TZN
|
|
74.7
|
117.3
|
42.7
|
0.22
|
|
|
135.6
|
179.8
|
44.2
|
0.75
|
|
|
179.8
|
198.1
|
18.3
|
0.95
|
|
MR6238
|
88.4
|
100.6
|
12.2
|
0.25
|
TZN
|
|
121.9
|
128.0
|
6.1
|
0.27
|
|
|
138.7
|
167.6
|
29.0
|
0.38
|
|
|
155.4
|
158.5
|
3.0
|
1.87
|
(including)
|
|
176.8
|
185.9
|
9.1
|
0.50
|
|
MR6239
|
97.5
|
135.6
|
38.1
|
0.15
|
TZN
|
|
147.8
|
164.6
|
16.8
|
0.89
|
|
|
147.8
|
155.4
|
7.6
|
1.70
|
(including)
|
MR6240
|
67.1
|
70.1
|
3.0
|
0.19
|
TZN
|
|
106.7
|
149.4
|
42.7
|
0.85
|
|
|
112.8
|
117.3
|
4.6
|
3.99
|
(including)
|
|
224.0
|
233.2
|
9.1
|
0.25
|
|
MR6241
|
93.0
|
103.6
|
10.7
|
0.23
|
TZN
|
|
128.0
|
161.5
|
33.5
|
0.39
|
|
MR6242
|
106.7
|
109.7
|
3.0
|
0.13
|
TZN
|
MR6243
|
176.8
|
182.9
|
6.1
|
0.58
|
TZN
|
|
190.5
|
201.2
|
10.7
|
0.95
|
|
|
201.2
|
214.9
|
13.7
|
1.13
|
|
|
207.3
|
210.3
|
3.0
|
2.47
|
(including)
|
MR6244
|
0.0
|
73.2
|
73.2
|
0.09
|
HideOut
|
|
205.7
|
242.3
|
36.6
|
1.06
|
|
|
214.9
|
221.0
|
6.1
|
2.91
|
(including)
|
|
257.6
|
271.3
|
13.7
|
0.17
|
|
|
278.9
|
280.4
|
1.5
|
0.12
|
|
|
288.0
|
294.1
|
6.1
|
0.24
|
|
MR6245
|
68.6
|
71.6
|
3.0
|
0.19
|
TZN
|
|
82.3
|
83.8
|
1.5
|
0.29
|
|
|
128.0
|
129.5
|
1.5
|
0.21
|
|
|
146.3
|
161.5
|
15.2
|
0.24
|
|
|
192.0
|
207.3
|
15.2
|
1.47
|
|
|
198.1
|
202.7
|
4.6
|
3.54
|
(including)
|
MR6246
|
51.8
|
68.6
|
16.8
|
0.21
|
TZN
|
|
97.5
|
99.1
|
1.5
|
0.14
|
|
|
111.3
|
152.4
|
41.1
|
0.44
|
|
|
169.2
|
179.8
|
10.7
|
0.36
|
|
MR6247
|
0.0
|
82.3
|
82.3
|
0.11
|
HideOut
|
|
192.0
|
242.3
|
50.3
|
0.21
|
|
MR6248
|
59.4
|
62.5
|
3.0
|
0.15
|
TZN
|
|
138.7
|
140.2
|
1.5
|
0.26
|
|
|
167.6
|
184.4
|
16.8
|
0.37
|
|
|
198.1
|
199.6
|
1.5
|
0.17
|
|
|
205.7
|
227.1
|
21.3
|
0.76
|
|
MR6249
|
80.8
|
82.3
|
1.5
|
0.36
|
TZN
|
|
89.9
|
91.4
|
1.5
|
0.38
|
|
|
99.1
|
100.6
|
1.5
|
0.12
|
|
|
134.1
|
135.6
|
1.5
|
0.12
|
|
|
153.9
|
173.7
|
19.8
|
0.63
|
|
|
207.3
|
211.8
|
4.6
|
0.94
|
|
|
211.8
|
217.9
|
6.1
|
0.47
|
|
MR6250
|
0.0
|
82.3
|
82.3
|
0.09
|
HideOut
|
|
135.6
|
157.0
|
21.3
|
0.23
|
|
|
176.8
|
178.3
|
1.5
|
0.12
|
|
MR6251
|
0.0
|
100.6
|
100.6
|
0.09
|
HideOut
|
|
169.2
|
239.3
|
70.1
|
1.10
|
|
|
178.3
|
214.9
|
36.6
|
1.91
|
(including)
|
|
245.4
|
246.9
|
1.5
|
0.98
|
|
|
257.6
|
260.6
|
3.0
|
0.29
|
|
MR6252
|
109.7
|
143.3
|
33.5
|
0.15
|
TZN
|
|
150.9
|
178.3
|
27.4
|
0.41
|
|
|
192.0
|
208.8
|
16.8
|
1.10
|
|
|
208.8
|
230.1
|
21.3
|
1.05
|
|
MR6253
|
100.6
|
138.7
|
38.1
|
0.52
|
TZN
|
|
103.6
|
106.7
|
3.0
|
3.87
|
(including)
|
|
170.7
|
175.3
|
4.6
|
0.18
|
|
|
266.7
|
291.1
|
24.4
|
0.58
|
|
MRA6254
|
21.3
|
27.4
|
6.1
|
0.11
|
TZN
|
|
128.0
|
135.6
|
7.6
|
0.21
|
|
|
259.1
|
307.8
|
48.8
|
1.09
|
|
MRA6255
|
45.7
|
53.3
|
7.6
|
0.59
|
8SX
|
|
182.9
|
217.9
|
35.1
|
1.09
|
|
|
187.5
|
196.6
|
9.1
|
3.44
|
(including)
|
|
272.8
|
285.0
|
12.2
|
0.12
|
|
MRA6256
|
0.0
|
9.1
|
9.1
|
0.37
|
8SX
|
|
178.3
|
240.8
|
62.5
|
0.39
|
|
|
208.8
|
216.4
|
7.6
|
1.40
|
(including)
|
|
249.9
|
256.0
|
6.1
|
0.16
|
|
MRA6257
|
53.3
|
54.9
|
1.5
|
0.13
|
TZN
|
|
59.4
|
62.5
|
3.0
|
0.12
|
|
|
93.0
|
94.5
|
1.5
|
0.16
|
|
|
246.9
|
271.3
|
24.4
|
1.59
|
|
|
256.0
|
271.3
|
15.2
|
2.41
|
(including)
|
|
271.3
|
288.0
|
16.8
|
0.71
|
|
MRA6258
|
0.0
|
44.2
|
44.2
|
0.10
|
8SX
|
|
155.4
|
173.7
|
18.3
|
0.20
|
|
|
182.9
|
192.0
|
9.1
|
0.18
|
|
MRA6259
|
0.0
|
10.7
|
10.7
|
0.12
|
8SX
|
|
246.9
|
298.7
|
51.8
|
0.77
|
|
|
263.7
|
277.4
|
13.7
|
1.84
|
(including)
|
|
298.7
|
309.4
|
10.7
|
0.48
|
|
|
309.4
|
335.3
|
25.9
|
0.30
|
|
MRA6260
|
18.3
|
19.8
|
1.5
|
0.15
|
8SX
|
|
109.7
|
140.2
|
30.5
|
1.45
|
|
|
112.8
|
123.4
|
10.7
|
3.72
|
(including)
|
MRA6261
|
0.0
|
22.9
|
22.9
|
0.07
|
8SX
|
|
170.7
|
184.4
|
13.7
|
0.24
|
|
|
195.1
|
196.6
|
1.5
|
0.12
|
|
MRA6262
|
3.0
|
33.5
|
30.5
|
0.24
|
Mud
|
|
51.8
|
53.3
|
1.5
|
0.25
|
|
|
126.5
|
134.1
|
7.6
|
0.12
|
|
|
143.3
|
147.8
|
4.6
|
0.13
|
|
|
147.8
|
153.9
|
6.1
|
0.44
|
|
MRA6263
|
24.4
|
25.9
|
1.5
|
0.24
|
Mud
|
|
38.1
|
99.1
|
61.0
|
0.24
|
|
|
149.4
|
153.9
|
4.6
|
0.11
|
|
MRA6264
|
0.0
|
4.6
|
4.6
|
0.28
|
Mud
|
|
13.7
|
22.9
|
9.1
|
0.20
|
|
|
120.4
|
125.0
|
4.6
|
0.71
|
|
MRA6265
|
12.2
|
29.0
|
16.8
|
0.19
|
Mud
|
|
35.1
|
82.3
|
47.2
|
0.36
|
|
MRA6266
|
67.1
|
74.7
|
7.6
|
0.46
|
Mud
|
|
82.3
|
89.9
|
7.6
|
0.46
|
|
MRA6267
|
0.0
|
9.1
|
9.1
|
1.39
|
Mud
|
|
0.0
|
1.5
|
1.5
|
7.24
|
(including)
|
|
15.2
|
24.4
|
9.1
|
0.36
|
|
|
144.8
|
149.4
|
4.6
|
0.11
|
|
MRA6268
|
16.8
|
38.1
|
21.3
|
0.28
|
Mud
|
|
45.7
|
70.1
|
24.4
|
0.39
|
|
MRA6269
|
80.8
|
86.9
|
6.1
|
0.30
|
Mud
|
MR6270
|
0.0
|
83.8
|
83.8
|
0.11
|
HideOut
|
|
137.2
|
138.7
|
1.5
|
0.13
|
|
|
144.8
|
237.7
|
93.0
|
1.96
|
|
|
167.6
|
199.6
|
32.0
|
5.01
|
(including)
|
MR6271
|
0.0
|
82.3
|
82.3
|
0.18
|
HideOut
|
|
131.1
|
134.1
|
3.0
|
0.15
|
|
|
141.7
|
173.7
|
32.0
|
0.34
|
|
MR6272
|
48.8
|
51.8
|
3.0
|
0.12
|
TZN
|
|
112.8
|
126.5
|
13.7
|
0.13
|
|
|
138.7
|
155.4
|
16.8
|
0.47
|
|
|
169.2
|
189.0
|
19.8
|
0.92
|
|
|
176.8
|
179.8
|
3.0
|
2.49
|
(including)
|
|
189.0
|
198.1
|
9.1
|
0.25
|
|
MR6273
|
103.6
|
112.8
|
9.1
|
0.27
|
TZN
|
|
123.4
|
131.1
|
7.6
|
0.44
|
|
|
138.7
|
143.3
|
4.6
|
0.16
|
|
|
164.6
|
182.9
|
18.3
|
0.29
|
|
MR6274
|
115.8
|
118.9
|
3.0
|
0.23
|
TZN
|
|
125.0
|
143.3
|
18.3
|
0.40
|
|
|
163.1
|
167.6
|
4.6
|
0.42
|
|
|
173.7
|
187.5
|
13.7
|
4.14
|
|
|
184.4
|
187.5
|
3.0
|
9.84
|
(including)
|
|
187.5
|
198.1
|
10.7
|
0.77
|
|
MR6275
|
146.3
|
161.5
|
15.2
|
0.22
|
Valmy
|
|
167.6
|
173.7
|
6.1
|
0.13
|
|
|
190.5
|
193.5
|
3.0
|
0.34
|
|
|
216.4
|
217.9
|
1.5
|
0.15
|
|
|
224.0
|
227.1
|
3.0
|
0.20
|
|
|
256.0
|
257.6
|
1.5
|
0.52
|
|
MR6276
|
59.4
|
62.5
|
3.0
|
0.11
|
Mud
|
|
80.8
|
83.8
|
3.0
|
0.14
|
|
|
152.4
|
153.9
|
1.5
|
0.18
|
|
|
158.5
|
170.7
|
12.2
|
0.11
|
|
MR6277
|
3.0
|
4.6
|
1.5
|
0.11
|
Mud
|
|
18.3
|
24.4
|
6.1
|
0.21
|
|
|
53.3
|
64.0
|
10.7
|
1.65
|
|
|
54.9
|
57.9
|
3.0
|
4.81
|
(including)
|
MR6278
|
12.2
|
32.0
|
19.8
|
1.36
|
Mud
|
|
18.3
|
24.4
|
6.1
|
3.43
|
(including)
|
MR6279
|
|
|
|
NSV
|
Mud
|
MRA6280
|
19.8
|
25.9
|
6.1
|
0.32
|
Mud
|
|
57.9
|
62.5
|
4.6
|
0.24
|
|
|
157.0
|
160.0
|
3.0
|
0.55
|
|
MRA6281
|
0.0
|
70.1
|
70.1
|
0.27
|
HideOut
|
MR6283
|
91.4
|
150.9
|
59.4
|
1.65
|
Valmy
|
|
106.7
|
120.4
|
13.7
|
3.22
|
|
|
141.7
|
147.8
|
6.1
|
3.12
|
|
|
160.0
|
164.6
|
4.6
|
0.56
|
|
|
196.6
|
208.8
|
12.2
|
0.16
|
|
|
275.8
|
278.9
|
3.0
|
0.15
|
|
|
285.0
|
289.6
|
4.6
|
0.12
|
|
MR6284
|
22.9
|
25.9
|
3.0
|
0.11
|
Valmy
|
|
57.9
|
62.5
|
4.6
|
0.37
|
|
|
112.8
|
121.9
|
9.1
|
0.12
|
|
|
163.1
|
205.7
|
42.7
|
0.20
|
|
|
283.5
|
286.5
|
3.0
|
0.15
|
|
|
371.9
|
373.4
|
1.5
|
0.34
|
|
|
382.5
|
385.6
|
3.0
|
0.20
|
|
MR6285
|
70.1
|
71.6
|
1.5
|
0.11
|
Valmy
|
|
79.2
|
80.8
|
1.5
|
0.13
|
|
|
112.8
|
115.8
|
3.0
|
0.12
|
|
|
163.1
|
169.2
|
6.1
|
0.14
|
|
|
195.1
|
205.7
|
10.7
|
0.37
|
|
MRA6292
|
0.0
|
74.7
|
74.7
|
0.06
|
HideOut
|
|
121.9
|
161.5
|
39.6
|
0.86
|
|
|
169.2
|
184.4
|
15.2
|
0.19
|
|
|
198.1
|
201.2
|
3.0
|
0.45
|
|
|
230.1
|
240.8
|
10.7
|
0.11
|
|
MRA6293
|
0.0
|
68.6
|
68.6
|
0.11
|
HideOut
|
|
102.1
|
103.6
|
1.5
|
0.10
|
|
MRA6293B
|
0.0
|
76.2
|
76.2
|
0.08
|
HideOut
|
|
102.1
|
129.5
|
27.4
|
1.11
|
|
MRA6294
|
0.0
|
70.1
|
70.1
|
0.09
|
HideOut
|
|
97.5
|
99.1
|
1.5
|
0.11
|
|
|
108.2
|
161.5
|
53.3
|
0.73
|
|
|
239.3
|
249.9
|
10.7
|
0.21
|
|
MRA6295
|
0.0
|
61.0
|
61.0
|
0.07
|
HideOut
|
|
61.0
|
91.4
|
30.5
|
0.46
|
|
MRA6297
|
0.0
|
68.6
|
68.6
|
0.13
|
HideOut
|
|
96.0
|
103.6
|
7.6
|
0.52
|
|
MRA6298
|
0.0
|
54.9
|
54.9
|
0.14
|
HideOut
|
|
Notes: Width in
meters represents downhole intersected length, which may or may not
be a true thickness of the mineralization. NSV means "no
significant values".
|
Table 2. Drillhole collars from the second quarter of the 2016
exploration drill program at the Marigold mine, Nevada, U.S.
HOLE ID
|
UTM-N
(Nad27 Zone11)
|
UTM-E
(Nad27 Zone11)
|
Elevation
(masl)
|
Azimuth
(deg.)
|
Dip
(deg.)
|
Length
(meters)
|
Area
|
MR6184
|
4510440
|
485358
|
1496
|
90
|
-90
|
123
|
TZN
|
MR6185
|
4510291
|
485204
|
1501
|
247
|
-89
|
245
|
TZN
|
MR6217
|
4508969
|
485809
|
1605
|
283
|
-89
|
276
|
HideOut
|
MR6220
|
4510009
|
486121
|
1501
|
0
|
-90
|
94
|
8SX
|
MR6222
|
4509948
|
486133
|
1500
|
0
|
-90
|
64
|
8SX
|
MR6223
|
4509801
|
486292
|
1498
|
90
|
-90
|
140
|
8SX
|
MR6225
|
4509152
|
485835
|
1593
|
200
|
-90
|
276
|
HideOut
|
MR6226
|
4509463
|
485880
|
1607
|
54
|
-90
|
306
|
HideOut
|
MR6227
|
4509364
|
485910
|
1608
|
0
|
-90
|
110
|
8SX
|
MR6228
|
4510383
|
485291
|
1498
|
18
|
-90
|
230
|
TZN
|
MR6229
|
4508918
|
485850
|
1605
|
233
|
-90
|
245
|
HideOut
|
MR6230
|
4510472
|
485321
|
1496
|
338
|
-89
|
200
|
TZN
|
MR6231
|
4510501
|
485355
|
1494
|
72
|
-89
|
200
|
TZN
|
MR6232
|
4510533
|
485386
|
1493
|
113
|
-90
|
200
|
TZN
|
MR6233
|
4508809
|
485939
|
1589
|
75
|
-89
|
154
|
HideOut
|
MR6234
|
4508770
|
486016
|
1597
|
16
|
-89
|
245
|
HideOut
|
MR6235
|
4508773
|
485953
|
1590
|
302
|
-89
|
245
|
HideOut
|
MR6236
|
4508763
|
485980
|
1590
|
158
|
-90
|
245
|
HideOut
|
MR6237
|
4510509
|
485416
|
1494
|
103
|
-90
|
200
|
TZN
|
MR6238
|
4510447
|
485418
|
1495
|
226
|
-90
|
203
|
TZN
|
MR6239
|
4510389
|
485408
|
1496
|
202
|
-89
|
200
|
TZN
|
MR6240
|
4510440
|
485479
|
1494
|
66
|
-89
|
239
|
TZN
|
MR6241
|
4510412
|
485452
|
1495
|
34
|
-90
|
200
|
TZN
|
MR6242
|
4510354
|
485449
|
1496
|
4
|
-89
|
215
|
TZN
|
MR6243
|
4510471
|
485573
|
1492
|
291
|
-89
|
215
|
TZN
|
MR6244
|
4509104
|
485812
|
1593
|
115
|
-90
|
294
|
HideOut
|
MR6245
|
4510228
|
485326
|
1501
|
90
|
-90
|
245
|
TZN
|
MR6246
|
4510198
|
485385
|
1500
|
100
|
-89
|
230
|
TZN
|
MR6247
|
4508949
|
485784
|
1605
|
319
|
-90
|
270
|
HideOut
|
MR6248
|
4510163
|
485385
|
1502
|
44
|
-89
|
245
|
TZN
|
MR6249
|
4510189
|
485329
|
1502
|
314
|
-90
|
245
|
TZN
|
MR6250
|
4508919
|
485871
|
1605
|
351
|
-89
|
215
|
HideOut
|
MR6251
|
4508980
|
485849
|
1604
|
213
|
-90
|
261
|
HideOut
|
MR6252
|
4510503
|
485302
|
1495
|
154
|
-90
|
230
|
TZN
|
MR6253
|
4510048
|
485344
|
1504
|
299
|
-90
|
291
|
TZN
|
MRA6254
|
4510048
|
485345
|
1504
|
89
|
-63
|
315
|
TZN
|
MRA6255
|
4509705
|
486091
|
1524
|
269
|
-75
|
325
|
8SX
|
MRA6256
|
4509620
|
486072
|
1523
|
268
|
-70
|
337
|
8SX
|
MRA6257
|
4510084
|
485367
|
1503
|
89
|
-58
|
288
|
TZN
|
MRA6258
|
4509790
|
486214
|
1500
|
267
|
-59
|
245
|
8SX
|
MRA6259
|
4509650
|
486041
|
1523
|
271
|
-59
|
337
|
8SX
|
MRA6260
|
4509687
|
486289
|
1500
|
268
|
-73
|
169
|
8SX
|
MRA6261
|
4509675
|
486130
|
1525
|
90
|
-59
|
215
|
8SX
|
MRA6262
|
4506390
|
486776
|
1640
|
265
|
-54
|
154
|
Mud Pit
|
MRA6263
|
4506388
|
486839
|
1640
|
270
|
-56
|
154
|
Mud Pit
|
MRA6264
|
4506419
|
486738
|
1640
|
269
|
-57
|
154
|
Mud Pit
|
MRA6265
|
4506421
|
486812
|
1640
|
270
|
-55
|
123
|
Mud Pit
|
MRA6266
|
4506418
|
486857
|
1639
|
271
|
-64
|
154
|
Mud Pit
|
MRA6267
|
4506450
|
486743
|
1640
|
271
|
-64
|
154
|
Mud Pit
|
MRA6268
|
4506450
|
486808
|
1639
|
269
|
-69
|
215
|
Mud Pit
|
MRA6269
|
4506450
|
486856
|
1639
|
271
|
-69
|
123
|
Mud Pit
|
MR6270
|
4508889
|
485832
|
1605
|
306
|
-89
|
245
|
HideOut
|
MR6271
|
4508889
|
485874
|
1605
|
249
|
-90
|
230
|
HideOut
|
MR6272
|
4510259
|
485343
|
1500
|
51
|
-89
|
215
|
TZN
|
MR6273
|
4510260
|
485220
|
1501
|
194
|
-89
|
215
|
TZN
|
MR6274
|
4510382
|
485338
|
1497
|
359
|
-89
|
215
|
TZN
|
MR6275
|
4504499
|
487145
|
1863
|
318
|
-90
|
283
|
Valmy
|
MR6276
|
4506431
|
486451
|
1656
|
156
|
-90
|
215
|
Mud Pit
|
MR6277
|
4506480
|
486797
|
1639
|
270
|
-90
|
154
|
Mud Pit
|
MR6278
|
4506481
|
486759
|
1640
|
41
|
-89
|
163
|
Mud Pit
|
MR6279
|
4506480
|
486833
|
1639
|
98
|
-89
|
105
|
Mud Pit
|
MRA6280
|
4506389
|
486807
|
1641
|
267
|
-54
|
197
|
Mud Pit
|
MR6281
|
4508978
|
485851
|
1604
|
0
|
-90
|
70
|
HideOut
|
MR6283
|
4504493
|
487111
|
1864
|
132
|
-89
|
290
|
Valmy
|
MR6284
|
4504468
|
487182
|
1871
|
31
|
-90
|
398
|
Valmy
|
MR6285
|
4504466
|
487210
|
1872
|
235
|
-90
|
239
|
Valmy
|
MRA6292
|
4508805
|
485825
|
1578
|
348
|
-80
|
245
|
HideOut
|
MRA6293
|
4508804
|
485856
|
1581
|
180
|
-80
|
123
|
HideOut
|
MRA6293B
|
4508806
|
485855
|
1581
|
345
|
-80
|
142
|
HideOut
|
MRA6294
|
4508807
|
485854
|
1581
|
344
|
-80
|
261
|
HideOut
|
MRA6295
|
4508788
|
485833
|
1578
|
179
|
-80
|
123
|
HideOut
|
MRA6297
|
4508804
|
485885
|
1584
|
343
|
-80
|
233
|
HideOut
|
MRA6298
|
4508794
|
485883
|
1583
|
178
|
-79
|
154
|
HideOut
|
|
Notes: This table
reports all the drillholes completed during the second quarter of
2016. The numerical gaps in the drillhole sequence result from
drillholes reported previously or drillholes expected to be drilled
in the third quarter of 2016.
|
Table 3. Drillhole results from the second quarter 2016
exploration drill program at the Seabee Gold Operation,
Saskatchewan, Canada.
Hole ID
|
From
(meters)
|
To
(meters)
|
Mine E
(midpoint)
|
Mine N
(midpoint)
|
Elevation
(midpoint)
|
Gold
(g/t)*
|
True
Width
(meters)
|
Zone
|
SUG-16-012
|
129.3
|
130.1
|
3955
|
4930
|
-358
|
0.06
|
0.8
|
9A
|
SUG-16-013
|
159.0
|
162.4
|
3956
|
4920
|
-391
|
0.05
|
3.2
|
9A
|
SUG-16-014
|
152.6
|
166.9
|
3917
|
4974
|
-423
|
1.65
|
11.3
|
9A
|
SUG-16-015
|
131.9
|
133.3
|
3931
|
4948
|
-383
|
0.10
|
1.3
|
9A
|
SUG-16-016
|
152.9
|
157.0
|
3922
|
4975
|
-408
|
10.83
|
3.4
|
9A
|
SUG-16-017
|
145.3
|
147.2
|
3919
|
4960
|
-406
|
0.10
|
1.6
|
9A
|
SUG-16-018
|
114.6
|
116.0
|
3891
|
4954
|
-372
|
0.10
|
1.3
|
9C
|
SUG-16-018
|
134.4
|
138.0
|
3890
|
4944
|
-390
|
5.65
|
3.3
|
9A
|
SUG-16-019
|
127.8
|
130.4
|
3896
|
4935
|
-375
|
22.88
|
2.5
|
9A
|
SUG-16-020
|
120.3
|
125.5
|
3887
|
4965
|
-384
|
2.40
|
4.4
|
9C
|
SUG-16-020
|
140.8
|
147.0
|
3886
|
4958
|
-403
|
2.19
|
5.3
|
9B
|
SUG-16-020
|
152.8
|
156.5
|
3885
|
4954
|
-413
|
0.50
|
3.2
|
9A
|
SUG-16-021
|
136.3
|
142.5
|
3872
|
4975
|
-402
|
21.06
|
4.7
|
9C
|
SUG-16-021
|
154.3
|
160.6
|
3869
|
4971
|
-419
|
28.64
|
4.9
|
9B
|
SUG-16-021
|
166.2
|
176.8
|
3867
|
4968
|
-433
|
1.25
|
8.2
|
9A
|
SUG-16-022
|
165.3
|
175.0
|
3880
|
4989
|
-436
|
0.90
|
6.9
|
9C
|
SUG-16-023
|
159.4
|
167.3
|
3898
|
4975
|
-428
|
16.17
|
6.3
|
9C
|
SUG-16-023
|
172.7
|
175.8
|
3899
|
4973
|
-438
|
2.54
|
2.5
|
9A
|
SUG-16-024
|
135.7
|
136.2
|
3916
|
4934
|
-384
|
0.23
|
0.5
|
9A
|
SUG-16-025
|
130.3
|
132.0
|
3927
|
4924
|
-369
|
0.10
|
1.7
|
9A
|
SUG-16-026
|
131.6
|
132.0
|
3943
|
4913
|
-355
|
0.01
|
0.4
|
9A
|
SUG-16-027
|
131.2
|
138.1
|
3980
|
4933
|
-356
|
3.47
|
6.0
|
9A
|
SUG-16-028
|
153.8
|
159.4
|
3933
|
4973
|
-417
|
2.13
|
4.3
|
9C
|
SUG-16-028
|
165.9
|
167.9
|
3935
|
4970
|
-427
|
0.58
|
1.6
|
9A
|
SUG-16-029
|
151.6
|
156.5
|
4004
|
4945
|
-374
|
3.70
|
3.8
|
9A
|
SUG-16-030
|
165.0
|
168.7
|
3954
|
4982
|
-425
|
1.81
|
2.8
|
9A
|
SUG-16-031
|
193.7
|
195.0
|
4015
|
4987
|
-424
|
7.67
|
0.9
|
9A
|
SUG-16-032
|
246.2
|
246.8
|
4068
|
4998
|
-453
|
0.01
|
0.4
|
9A
|
SUG-16-033
|
270.0
|
277.1
|
4021
|
5210
|
-409
|
3.03
|
1.7
|
HWZ
|
SUG-16-300
|
181.1
|
181.9
|
4097
|
4977
|
-381
|
0.07
|
0.4
|
9A
|
SUG-16-301
|
238.8
|
239.2
|
4038
|
4985
|
-406
|
0.01
|
0.2
|
9A
|
SUG-16-303
|
219.0
|
224.5
|
4029
|
4966
|
-372
|
1.78
|
1.9
|
9A
|
SUG-16-304
|
189.3
|
191.9
|
4066
|
4948
|
-366
|
0.02
|
1.2
|
9A
|
SUG-16-305
|
168.7
|
169.1
|
4074
|
4929
|
-335
|
0.01
|
0.2
|
9A
|
SUG-16-306
|
199.5
|
203.0
|
4251
|
4796
|
-127
|
5.08
|
1.4
|
9A
|
SUG-16-307
|
138.9
|
150.0
|
4266
|
4848
|
-159
|
20.14
|
4.0
|
9A
|
SUG-16-308
|
153.0
|
161.2
|
4285
|
4848
|
-153
|
27.28
|
2.7
|
9A
|
SUG-16-309
|
50.4
|
51.8
|
3767
|
4819
|
-202
|
0.27
|
1.1
|
9C
|
SUG-16-310
|
13.7
|
15.0
|
3793
|
4800
|
-221
|
0.10
|
0.9
|
9A
|
SUG-16-310
|
41.2
|
41.7
|
3773
|
4817
|
-215
|
19.13
|
0.4
|
9B
|
SUG-16-310
|
57.1
|
61.4
|
3760
|
4829
|
-210
|
1.92
|
3.0
|
9C
|
SUG-16-311
|
15.1
|
16.8
|
3791
|
4802
|
-224
|
6.28
|
1.0
|
9A
|
SUG-16-311
|
70.2
|
72.3
|
3752
|
4841
|
-225
|
0.10
|
1.2
|
9C
|
SUG-16-312
|
15.5
|
16.0
|
3793
|
4799
|
-214
|
0.01
|
0.4
|
9A
|
SUG-16-312
|
45.0
|
46.5
|
3776
|
4816
|
-196
|
0.57
|
1.3
|
9C
|
SUG-16-313
|
14.5
|
15.0
|
3793
|
4802
|
-223
|
9.97
|
0.3
|
9A
|
SUG-16-313
|
56.5
|
60.1
|
3765
|
4835
|
-218
|
0.26
|
2.6
|
9C
|
SUG-16-314
|
7.7
|
10.8
|
3796
|
4797
|
-222
|
0.29
|
1.9
|
9A
|
SUG-16-314
|
48.5
|
51.4
|
3763
|
4817
|
-210
|
0.04
|
1.8
|
9C
|
SUG-16-315
|
6.8
|
7.4
|
3799
|
4797
|
-221
|
0.87
|
0.5
|
9A
|
SUG-16-315
|
40.3
|
42.0
|
3777
|
4818
|
-205
|
4.38
|
1.4
|
9C
|
SUG-16-316
|
43.1
|
44.4
|
3783
|
4817
|
-192
|
0.01
|
1.2
|
9C
|
SUG-16-317
|
13.0
|
15.2
|
3795
|
4804
|
-225
|
8.88
|
1.4
|
9A
|
SUG-16-317
|
50.0
|
55.8
|
3771
|
4835
|
-225
|
8.83
|
3.9
|
9C
|
SUG-16-318
|
10.4
|
11.9
|
3800
|
4803
|
-221
|
2.77
|
1.4
|
9A
|
SUG-16-318
|
37.6
|
39.5
|
3790
|
4827
|
-212
|
23.53
|
1.7
|
9C
|
SUG-16-319
|
13.8
|
16.5
|
3800
|
4808
|
-225
|
0.94
|
2.1
|
9A
|
SUG-16-319
|
50.5
|
52.5
|
3790
|
4843
|
-224
|
0.11
|
1.6
|
9C
|
SUG-16-320
|
10.9
|
12.9
|
3803
|
4805
|
-222
|
1.39
|
1.8
|
9A
|
SUG-16-320
|
40.6
|
41.7
|
3797
|
4833
|
-215
|
0.43
|
1.0
|
9C
|
SUG-16-321
|
8.5
|
10.2
|
3804
|
4800
|
-217
|
1.56
|
1.7
|
9A
|
SUG-16-321
|
34.8
|
38.0
|
3799
|
4819
|
-198
|
8.48
|
3.2
|
9C
|
SUG-16-322
|
9.4
|
11.0
|
3806
|
4803
|
-219
|
5.07
|
1.6
|
9A
|
SUG-16-322
|
37.8
|
40.3
|
3807
|
4828
|
-206
|
1.38
|
2.5
|
9C
|
SUG-16-323
|
36.9
|
39.7
|
3810
|
4822
|
-201
|
2.76
|
2.8
|
9C
|
SUG-16-324
|
9.7
|
12.5
|
3808
|
4804
|
-222
|
5.55
|
2.6
|
9A
|
SUG-16-324
|
35.7
|
36.4
|
3812
|
4827
|
-213
|
0.50
|
0.7
|
9B
|
SUG-16-324
|
41.5
|
42.1
|
3812
|
4832
|
-211
|
0.73
|
0.6
|
9C
|
SUG-16-325
|
18.0
|
19.0
|
3812
|
4810
|
-221
|
1.40
|
0.9
|
9A
|
SUG-16-325
|
28.7
|
34.5
|
3816
|
4822
|
-217
|
2.32
|
5.0
|
9B
|
SUG-16-325
|
46.0
|
48.6
|
3821
|
4836
|
-213
|
3.95
|
2.2
|
9C
|
SUG-16-326
|
17.2
|
21.0
|
3816
|
4807
|
-215
|
1.00
|
3.2
|
9A
|
SUG-16-326
|
30.5
|
35.5
|
3823
|
4816
|
-208
|
2.01
|
4.2
|
9B
|
SUG-16-326
|
46.1
|
50.3
|
3831
|
4827
|
-200
|
5.08
|
3.5
|
9C
|
SUG-16-327
|
14.0
|
17.1
|
3816
|
4801
|
-215
|
26.84
|
2.5
|
9A
|
SUG-16-327
|
50.4
|
52.4
|
3834
|
4821
|
-191
|
2.90
|
1.6
|
9C
|
SUG-16-328
|
10.2
|
12.6
|
3811
|
4802
|
-219
|
9.96
|
2.3
|
9A
|
SUG-16-328
|
40.3
|
43.2
|
3820
|
4826
|
-202
|
5.08
|
2.7
|
9C
|
SUG-16-329
|
12.5
|
15.7
|
3814
|
4801
|
-216
|
0.93
|
2.8
|
9A
|
SUG-16-329
|
46.1
|
47.7
|
3827
|
4821
|
-193
|
1.17
|
1.4
|
9C
|
SUG-16-901
|
400.8
|
406.5
|
4456
|
5240
|
-551
|
1.76
|
2.0
|
8a
|
SUG-16-902
|
475.3
|
494.0
|
4429
|
5296
|
-617
|
0.26
|
8.1
|
8a
|
SUG-16-903
|
441.3
|
454.5
|
4329
|
5254
|
-553
|
4.62
|
5.4
|
8a
|
SUG-16-904
|
580.2
|
583.2
|
4307
|
5340
|
-675
|
0.09
|
2.2
|
8a
|
SUG-16-905
|
678.0
|
683.7
|
4260
|
5411
|
-742
|
0.18
|
1.2
|
8a
|
SUG-16-906
|
313.5
|
318.7
|
4396
|
5132
|
-446
|
1.92
|
3.8
|
8a
|
SUG-16-907
|
378.9
|
388.3
|
4292
|
5158
|
-467
|
9.38
|
4.8
|
8a
|
SUG-16-908
|
331.4
|
340.8
|
4355
|
5139
|
-451
|
15.38
|
6.0
|
8a
|
SUG-16-909
|
424.3
|
431.8
|
4230
|
5125
|
-471
|
4.51
|
3.8
|
8a
|
SUG-16-910
|
373.3
|
381.1
|
4334
|
5168
|
-488
|
2.69
|
3.1
|
8a
|
SUG-16-911
|
387.4
|
389.9
|
4289
|
5156
|
-471
|
12.60
|
1.3
|
8a
|
SUG-16-912
|
387.2
|
392.4
|
4301
|
5167
|
-481
|
39.06
|
2.7
|
8a
|
SUG-16-913
|
392.5
|
399.0
|
4354
|
5202
|
-515
|
0.55
|
2.8
|
8a
|
SUG-16-914
|
421.9
|
426.1
|
4296
|
5204
|
-517
|
4.92
|
2.1
|
8a
|
|
* Gold values cut to
75 g/t. Intersection midpoints determined where mineralized
structure intersected or projected. Width determined from average
plane dipping 52 degrees towards 356 degrees azimuth in mine grid
space.
|
Note: Drillholes
SUG-16-034, SUG-16-302 and SUG-16-900 did not encounter zone
intersections.
|
Sampling and Analytical Procedures
All drill samples in respect of the Marigold mine drilling
program were sent for processing and analysis to the offices of
American Assay Laboratories, Inc. ("AAL") in Sparks, Nevada which is an ISO 17025
accredited laboratory independent from Silver Standard. Fire assay
was completed on a 30 gram sample (AAL method code FA-PB30-ICP)
with an Inductively Coupled Plasma ("ICP") finish after a two acid
digestion. Samples with assay results greater than 10 g/t were fire
assayed on a 30 gram sample (AAL method code Grav Au30) with a
gravimetric finish. We employ a rigorous Quality Assurance/Quality
Control ("QA/QC") program, which includes real-time assay quality
monitoring through the regular insertion of blanks, duplicates, and
certified reference material, as well as reviewing
laboratory-provided QA/QC data.
All drill samples in respect of the Seabee Gold Operation
drilling program were assayed by our onsite non-accredited assay
laboratory, which is not independent from Silver Standard.
Duplicate check assays were conducted at site as well as
at TSL Laboratories in Saskatoon, which is
independent from Silver Standard. Results of the spot checks were
consistent with those reported. Sampling interval was established
by minimum or maximum sampling lengths and geological and/or
structural criteria. Two hundred gram samples were pulverized until
greater than 80 percent passes through 150 mesh screen. Thirty gram
pulp samples were then analyzed for gold by fire assay with
gravimetric finish (0.01 grams per tonne detection limit).
Qualified Persons
The scientific and technical data contained in this news release
relating to the Marigold mine has been reviewed and approved by
James N. Carver, SME Registered
Member and a Qualified Person under National Instrument 43-101 —
Standards of Disclosure for Mineral Projects ("NI 43-101").
Mr. Carver is our Chief Geologist at the Marigold mine. The
scientific and technical data contained in this news release
relating to the Seabee Gold Operation has been reviewed and
approved by F. Carl Edmunds, P.
Geo., a Qualified Person under NI 43-101. Mr. Edmunds is our Chief
Geologist, Exploration.
About Silver Standard
Silver Standard is a Canadian-based precious metals producer
with three wholly-owned and operated mines, including the Marigold
gold mine in Nevada, U.S., the
Seabee Gold Operation in Saskatchewan,
Canada and the Pirquitas silver mine in Jujuy Province,
Argentina. We also have two
feasibility stage projects and an extensive portfolio of
exploration properties throughout North and South America. We are committed to delivering
safe production through relentless emphasis on Operational
Excellence. We are also focused on growing production and Mineral
Reserves through the exploration and acquisition of assets for
accretive growth, while maintaining financial strength.
For further information contact:
W. John DeCooman, Jr.
Vice President, Business Development and Strategy
Silver Standard Resources Inc.
Vancouver, BC
N.A. toll-free: +1 (888) 338-0046
All others: +1 (604) 689-3846
E-Mail: invest@silverstandard.com
To receive Silver
Standard's news releases by e-mail, please register using the
Silver Standard website at www.silverstandard.com.
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Cautionary Note
Regarding Forward-Looking Statements:
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This news release
contains forward-looking information within the meaning of Canadian
securities laws and forward-looking statements within the meaning
of the U.S. Private Securities Litigation Reform Act of 1995
(collectively, "forward-looking statements") concerning the
anticipated developments in our operations in future periods, and
other events or conditions that may occur or exist in the future.
All statements, other than statements of historical fact, are
forward-looking statements.
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Generally,
forward-looking statements can be identified by the use of words or
phrases such as "expects," "anticipates," "plans," "projects,"
"estimates," "assumes," "intends," "strategy," "goals,"
"objectives," "potential," or variations thereof, or stating that
certain actions, events or results "may," "could," "would," "might"
or "will" be taken, occur or be achieved, or the negative of any of
these terms or similar expressions. The forward-looking statements
in this news release relate to, among other things: our ability to
add Mineral Resources and Mineral Reserves at the Marigold mine and
the Seabee Gold Operation; future production of gold, silver and
other metals; estimated production rates for gold, silver and other
metals produced by us; ongoing or future development plans and
capital replacement, improvement or remediation programs; and our
plans and expectations for our properties and
operations.
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These
forward-looking statements are subject to a variety of known and
unknown risks, uncertainties and other factors that could cause
actual events or results to differ from those expressed or implied,
including, without limitation, the following: uncertainty of
production, development plans and cost estimates for the Marigold
mine and the Seabee Gold Operation; our ability to replace Mineral
Reserves; our ability to complete and successfully integrate an
announced acquisition; commodity price fluctuations; political or
economic instability and unexpected regulatory changes; currency
fluctuations; the possibility of future losses; general economic
conditions; counterparty and market risks related to the sale of
our concentrate and metals; uncertainty in the accuracy of Mineral
Reserves and Mineral Resources estimates and in our ability to
extract mineralization profitably; differences in U.S. and Canadian
practices for reporting Mineral Reserves and Mineral Resources;
lack of suitable infrastructure or damage to existing
infrastructure; future development risks, including start-up delays
and cost overruns; our ability to obtain adequate financing for
further exploration and development programs and opportunities;
uncertainty in acquiring additional commercially mineable mineral
rights; delays in obtaining or failure to obtain governmental
permits, or non-compliance with our permits; our ability to attract
and retain qualified personnel and management; potential labour
unrest; the impact of governmental regulations, including health,
safety and environmental regulations, including increased costs and
restrictions on operations due to compliance with such regulations;
reclamation and closure requirements for our mineral properties;
social and economic changes following closure of a mine;
unpredictable risks and hazards related to the development and
operation of a mine or mineral property that are beyond our
control; indigenous peoples' title claims and rights to
consultation and accommodation may affect our existing operations
as well as development projects and future acquisitions;
assessments by taxation authorities in multiple jurisdictions,
including the recent reassessment by the Canada Revenue Agency;
claims and legal proceedings, including adverse rulings in
litigation against us and/or our directors or officers; compliance
with anti-corruption laws and internal controls, and increased
regulatory compliance costs; complying with emerging climate change
regulations and the impact of climate change; uncertainties related
to title to our mineral properties and the ability to obtain
surface rights; the sufficiency of our insurance coverage; civil
disobedience in the countries where our mineral properties are
located; operational safety and security risks; actions required to
be taken by us under human rights law; competition in the mining
industry for mineral properties; shortage or poor quality of
equipment or supplies; an event of default under our convertible
notes may significantly reduce our liquidity and adversely affect
our business; failure to meet covenants under our senior secured
revolving credit facility; conflicts of interest that could arise
from certain of our directors' involvement with other natural
resource companies; information systems security threats; and those
other various risks and uncertainties identified under the heading
"Risk Factors" in our most recent Annual Information Form filed
with the Canadian securities regulatory authorities and included in
our most recent Annual Report on Form 40-F filed with the U.S.
Securities and Exchange Commission ("SEC").
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This list is not
exhaustive of the factors that may affect any of our
forward-looking statements. Our forward-looking statements are
based on what our management currently considers to be reasonable
assumptions, beliefs, expectations and opinions based on the
information currently available to it. Assumptions have been made
regarding, among other things, our ability to carry on our
exploration and development activities, our ability to meet our
obligations under our property agreements, the timing and results
of drilling programs, the discovery of Mineral Resources and
Mineral Reserves on our mineral properties, the timely receipt of
required approvals and permits, including those approvals and
permits required for successful project permitting, construction
and operation of our projects, the price of the minerals we
produce, the costs of operating and exploration expenditures, our
ability to operate in a safe, efficient and effective manner, our
ability to obtain financing as and when required and on reasonable
terms and our ability to continue operating the Marigold mine and
the Seabee Gold Operation. You are cautioned that the foregoing
list is not exhaustive of all factors and assumptions which may
have been used. We cannot assure you that actual events,
performance or results will be consistent with these
forward-looking statements, and management's assumptions may prove
to be incorrect. Our forward-looking statements reflect current
expectations regarding future events and operating performance and
speak only as of the date hereof and we do not assume any
obligation to update forward-looking statements if circumstances or
management's beliefs, expectations or opinions should change other
than as required by applicable law. For the reasons set forth
above, you should not place undue reliance on forward-looking
statements.
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Cautionary Note
to U.S. Investors
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This news release
includes Mineral Reserves and Mineral Resources classification
terms that comply with reporting standards in Canada and the
Mineral Reserves and the Mineral Resources estimates are made in
accordance with NI 43-101. NI 43-101 is a rule developed by the
Canadian Securities Administrators that establishes standards for
all public disclosure an issuer makes of scientific and technical
information concerning mineral projects. These standards differ
significantly from the requirements of the SEC set out in SEC
Industry Guide 7. Consequently, Mineral Reserves and Mineral
Resources information included in this news release is not
comparable to similar information that would generally be disclosed
by domestic U.S. reporting companies subject to the reporting and
disclosure requirements of the SEC. Under SEC standards,
mineralization may not be classified as a "reserve" unless the
determination has been made that the mineralization could be
economically produced or extracted at the time the reserve
determination is made. In addition, the SEC's disclosure standards
normally do not permit the inclusion of information concerning
"Measured Mineral Resources," "Indicated Mineral Resources" or
"Inferred Mineral Resources" or other descriptions of the amount of
mineralization in mineral deposits that do not constitute
"reserves" by U.S. standards in documents filed with the SEC. U.S.
investors should understand that "Inferred Mineral Resources" have
a great amount of uncertainty as to their existence and great
uncertainty as to their economic and legal feasibility. Moreover,
the requirements of NI 43-101 for identification of "reserves" are
also not the same as those of the SEC, and reserves reported by us
in compliance with NI 43-101 may not qualify as "reserves" under
SEC standards. Accordingly, information concerning mineral deposits
set forth herein may not be comparable with information made public
by companies that report in accordance with U.S.
standards.
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SOURCE Silver Standard Resources Inc.