Silver Bear Resources Inc.: High Grade Silver Near Surface Identified-Drilling Commenced
26 Novembro 2013 - 9:30AM
Marketwired Canada
Silver Bear Resources Inc. (TSX:SBR) ("Silver Bear" or the "Company") announces
that it has identified three prominent high grade silver zones averaging greater
than 1000 g/t Silver near surface on its Vertikalny deposit. Combined, the zones
have a total of approximately 5.7 million oz at 2041 g/t Ag of estimated
inferred mineral resources and 5.1 million oz at 1569 g/t Ag of estimated
indicated mineral resources, details are shown below in Table 1. The company's
Vertikalny deposit is located within its Mangazeisky License area in Yakutia,
Russia. In September of this year (see Sept. 3, 2013 press release), Silver Bear
received its mining license for the Vertikalny deposit from Russian authorities.
Table 2 delineates the Company's mineral resource estimate prepared in
accordance with National Instrument 43-101 covering the total license area.
"This information confirms the potential that these areas could supply early
high grade ore for processing using cost effective open pit mining methods,"
said Mark Trevisiol, President and CEO of Silver Bear. He added, "The
identification of these high grade silver zones is valuable on its own, having
the mineralization near surface just makes this project all that more exciting."
Figure 1 is a long section through the Vertikalny ore body. The high grade zones
near surface identified as Zone 1, Zone 2 and Zone 3 show the relative location
of the areas where silver grades are at or greater than 1000 g/t Ag.
Following up on this opportunity, Silver Bear has initiated near surface
drilling on its Vertikalny deposit. Drilling commenced in October of this year
with a total target of 3000 meters of drilling planned. Good progress has been
made with Silver Bear having drilled approximately 1800 meters to date.
During this past summer, the Silver Bear team completed over 11,000 cubic meters
of trenching. Trenching was focused in areas around the Vertikalny prospect and
in the Mangazeisky North zone within the exploration license area.
Mineralization was uncovered in all of the 25 trenches which were excavated. Of
the 25 trenches completed, 5 trenches were located in areas where no previous
veins or mineralized zones had been mapped. Within these 5 trenches, the
mineralization appears to be similar to those elsewhere on the property, which
contain high levels of galena minerals containing silver. These samples have
typically returned some of the highest concentrations of silver on the property.
More detailed mapping of the trenching is being prepared.
Assays are pending for both the current drill program and the trenching
conducted through the summer.
To view Figure 1 accompanying this press release, please visit the following
link: http://media3.marketwire.com/docs/913762.png
Table 1 (i)- High Grade Estimated Silver Mineral Resources Prepared in
Accordance with NI 43-101 effective as of September 28, 2011 - Zones 1,2
and 3 Vertikalny Central Zone (see Figure 1)
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Zone #/Resource Type Tonnage Grade (g/t) Contained Ag (oz)
---------------------------------------------------------------------------
1/indicated 30,211 1,303 1,266,070
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2/indicated 41,898 1,829 2,463,229
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3/indicated 29,153 1,473 1,380,767
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Totals Indicated 101,262 1,570 5,110,066
---------------------------------------------------------------------------
1/inferred 72,251 2,218 5,151,692
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2/inferred 11,193 1,055 379,791
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3/inferred 4,183 1,632 219,471
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Totals Inferred 87,627 2,041 5,750,954
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(i) All estimated mineral resources set out in Table 1 above are based upon
estimated mineral resource calculation prepared in accordance with NI 43-
101 using a cut-off grade of 1000 g/t Ag.
These Zones form part of an overall NI 43-101 resource as detailed in Table
2 here in. Please refer to cautionary note for Table 2 below.
Table 2 - Total Estimated Mineral Resources Prepared in Accordance with NI
43-101 - Total Mangazeisky License area
---------------------------------------------------------------------------
Indicated Resource Inferred Resource
------------------------ ----------------------
Area - Estimated Tonnes Ag Oz Tonnes Ag Oz
mineral Resources (Mt) (g/t) (M) (Mt) (g/t) (M)
---------------------------------------------------------------------------
Vertikalny Central Zone 1.1 518.2 17.9 1.1 649.0 23.8
---------------------------------------------------------------------------
Vertikalny Northwest Zone 0.0 0.0 0.0 0.5 379.0 6.6
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Nizhny Endybal Deposit 0.0 0.0 0.0 3.2 133 13.5
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Total 1.1 518 17.9 4.9 282 43.9
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Cautionary Notes:
-- Mineral resources that are not mineral reserves do not have
demonstrated economic viability. Due to the uncertainty of measured,
indicated or inferred mineral resources, these mineral resources may
never be upgraded to proven and probable mineral reserves.
-- The effective date for the Vertikalny resource is September 28, 2011
while that of Nizhny Endybal is September 20, 2012.
-- Cut-off grades for the Vertikalny resource and Nizhny Endybal resource
are 181 g/t Ag and 75 g/t Ag respectively. All in mining and processing
costs for Vertikalny and Nizhny Endybal are $106/tonne ore and $80/
tonne ore respectively.
Mr. P. Gribble, FIMMM, C.Eng., formerly Sr. Geologist of Tetra Tech WE Inc., is
the independent qualified person who prepared the mineral resource estimates
disclosed above.
Paul Daigle, P.Geo., of Tetra Tech, is a qualified person and has reviewed the
information in this press release.
Nick Vessenine (Ph.D. Mining, Moscow State University) has reviewed the
technical information in this press release.
Mark Trevisiol, P.Eng., President and CEO of Silver Bear, is a qualified person
under National Instrument 43-101 and has reviewed and approved the content of
this press release.
Forward-Looking Information
This release and subsequent oral statements made by and on behalf of the Company
may contain forward-looking statements, which reflect management's expectations.
Wherever possible, words such as "intends", "expects", "scheduled", "estimates",
"anticipates", "believes" and similar expressions or statements that certain
actions, events or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved, have been used to identify these forward-looking
statements. Although the forward-looking statements contained in this release
reflect management's current beliefs based upon information currently available
to management and based upon what management believes to be reasonable
assumptions, Silver Bear cannot be certain that actual results will be
consistent with these forward-looking statements. A number of factors could
cause events and achievements to differ materially from the results expressed or
implied in the forward-looking statements. Such risks factors include but are
not limited to the uncertainties inherent to using historical exploration
information collected in accordance with Russian standards, the risks inherent
to conducting business in Russia and risks factors identified by Silver Bear in
its continuous disclosure filings filed from time to time on SEDAR. These
factors should be considered carefully and prospective investors should not
place undue reliance on the forward-looking statements. Forward-looking
statements necessarily involve significant known and unknown risks, assumptions
and uncertainties that may cause Silver Bear's actual results, events, prospects
and opportunities to differ materially from those expressed or implied by such
forward-looking statements. Although Silver Bear has attempted to identify
important risks and factors that could cause actual actions, events or results
to differ materially from those described in forward-looking statements, there
may be other factors and risks that cause actions, events or results not to be
as anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements.
Accordingly, prospective investors should not place undue reliance on
forward-looking statements. These forward-looking statements are made as of the
date of this release, and Silver Bear assumes no obligation to update or revise
them to reflect new events or circumstances, unless otherwise required by law.
For further details, please visit www.silverbearresources.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Mark Trevisiol
President and Chief Executive Officer
65 Queen Street West, Suite 825
Toronto, Ontario
M5H 2M5
Robin Birchall
Executive Chairman
Silver Bear Resources Inc.
1 Adam Street
London, WC2N 6LE
UK+44 771 131 3019
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