SILVER SHIELD PREPARES FOR DRILLING - CONTRACTS DRILLER FOR WELSH SILVER MINE
29 Março 2011 - 9:30AM
PR Newswire (Canada)
BURLINGTON, ON, March 29 /CNW/ -- BURLINGTON, ON, March 29 /CNW/ -
Silver Shield Resources (TSXV: SSR) announces that it has been
successful in procuring a drill for its Welsh Silver Mine in
Elk Lake, Ontario. The drill is presently occupied on a drill
project but is expected to become free in the next short while. At
that time it will be moved to the Welsh Silver Mine and commence a
minimum 1,200 metre drill project for Silver Shield Resources
(TSXV: SSR). Due to the close proximity of the drilling and
shallow nature of the Welsh Mine mineralization the company expects
holes to be drilled in 100-200 metre lengths. Phase II
drilling completed by the company previously encountered massive
mineralized vein swarming to the south east of the mine. A
subsequent small stripping program that was done in the area
located these swarms on surface and the company is anxious to drill
this area as soon as a drill is available. With new staking
completed in the area by Silver Shield, the Company feels it has
secured its position in this area. Upon geological review, certain
targets hope to be identified on these new claims and a small
number of exploratory drill holes completed. Of particular interest
to the company is the area near the Historic Cotley Mine. To aid in
the Company's already large data base of the mine, a survey of
the area around the mine and to the east of the mine is being
commissioned. The survey report will hopefully
identify old markings and elevations, relevant points
including the Welsh shaft, shaft southeast of Welsh main shaft and
the adit to the Welsh Silver Mine and all drill holes. With
this survey it is felt the Company can more accurately locate the
workings and mineralized areas of the mine on previous technical
reports and aid in the new drilling. Tim D. Towers commented, "In
these times of rapidly escalating prices of Silver, and experts
predicating higher prices to come, we feel we have a real gem
in this former producing Silver Mine. The close proximity of
infrastructure and ease of access taken in conjunction with past
results excites me. The demand for drills has hindered us in
acquiring one, but since this has now been accomplished we can't
wait for the rig to be available! Our shareholders have been
patient and supportive and we look forward to rewarding their
patience. I urge all investors to review our original 43-101
technical report on the Welsh Silver Mine by clicking the link at
the end of this release. After this drill campaign we will be
updating our original 43-101." About the Former Producing Welsh
Silver Mine In 1908, The Welsh Silver Mine shaft was sunk on the #1
vein, to 160 feet and levels established at 75' and 150'. On the 75
foot level five veins were developed, Ag-rich lenses were outlined
on these veins, but were never mined. In 1963 Welsh Silver Mines
removed a bulk sample from the #4 vein that had an average grade of
22 oz Ag/ton. Approximately 700 metres southeast of the Welsh Shaft
another set of veins occur but in a north-south direction. In 1980
and 1982, 25,568 feet of surface drilling was performed on the
Cameron Mine property immediately north of the SSR property. An
underground ramp was developed in a southerly direction to the SSR
claim boundary by Teck-Lacana in 1983 to prepare the property for
production, along with a total of 3,885.5 feet of underground
drilling. These veins were shown to extend onto the SSR ground and
have been the subject of drilling by both Teck-Lacana and SSR.
Recent diamond drilling by Silver Shield has intersected numerous
high-grade silver vein swarms (SCL-08-02 0.15m @ 2,659.5g/t Ag;
SCL-08-09 0.20m @ 2,589.2 g/t Ag) over a 200+m strike length
tracing the veins south below the thin Cobalt sedimentary
cover. The southern extension of these veins is now covered
by the expanded property. To view the Welsh Silver Property 43-101
Technical Report, please follow:
http://www.silvershieldresources.com/investor-relations/pdf/Welsh_Property_NI43-101.pdf
To receive a copy of our Welsh Area Mine Map please email the
company. Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined on the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. Company Management, which takes full
responsibility for content, prepared this news release. In
order to proceed fully with the Company's exploration and
acquisition plans, additional funding may be necessary and,
depending on market conditions, this funding may not be forthcoming
on a schedule or on terms that facilitate the Company's plans. To
view this news release in HTML formatting, please use the following
URL:
http://www.newswire.ca/en/releases/archive/March2011/29/c7109.html
p /p p please visit a
href="http://www.silvershieldresources.com"www.silvershieldresources.com/a
or contact: /p p bTim Towers, President and Chief Executive
Officer/bbr/ Phone: (289) 337-6162 Email: a
href="mailto:silvershield@cogeco.net"silvershield@cogeco.net/abr/
bDonald Shaxon, Manager of Corporate Development, /bbr/ Phone:
(289) 838-5936 Email: a
href="mailto:don@shaxon.ca"don@shaxon.ca/a /p p a
href="http://www.silvershieldresources.com"www.silvershieldresources.com/a
Phone: 289-337-616
Fax: 289-337-6678 /p
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