VANCOUVER, BRITISH COLUMBIA, Sep. 15, 2009 (Marketwire) --
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/15/09 -- Silver Standard Resources Inc. (TSX: SSO)(NASDAQ: SSRI) is pleased to report that diamond drilling in the Brucejack Area of its wholly-owned Snowfield Project continues to intersect significant values of gold-silver mineralization. The property is located 65 kilometers north of the town of Stewart and 15 kilometers southeast of Barrick's high-grade gold-silver mine at Eskay Creek.
Galena Hill Zone
Drilling at the Galena Hill Zone, located five kilometers south of the Snowfield Zone and referenced in the news releases dated August 5 and August 20, 2009, continues to intersect gold mineralization with significant intervals encountering visible gold.
A new highlight from the Galena Hill Zone is hole SU-12 which intersected four bands of mineralization. The best intersection included:
- 1.5 meters with uncut grades of 16.95 kilograms of gold and 8.7 kilograms of silver per tonne (4.9 feet averaging 494.3 ounces of gold and 254 ounces of silver per ton).
- This intersection ocurred within a wider interval of 20.6 meters with cut grades of 5.33 grams of gold and 159 grams of silver per tonne (68 feet averaging 0.15 ounces of gold and 4.6 ounces of silver per ton). For the quoted average gold assays, any assay in excess of 31.1 grams of gold per tonne was cut to 31.1 grams of gold per tonne.
SU-12 is collared approximately 100 meters southwest of SU-05 which intersected 155 meters averaging 1.26 grams of gold per tonne (509 feet averaging 0.04 ounces of gold per ton), including 12 meters averaging 5.37 grams of gold per tonne (39 feet averaging 0.16 ounces of gold per ton).
Bridge Zone
The Bridge Zone, located 1,200 meters south of the Galena Hill Zone, is a new discovery made by Silver Standard. Highlights from SU-19, collared approximately 100 meters southwest of SU-10, include:
- 552 meters of 0.87 grams of gold per tonne (1,811 feet averaging 0.025 ounces of gold per ton), including 260 meters of 1.19 grams of gold per tonne (852 feet averaging 0.034 ounces of gold per ton).
Previously reported hole SU-10 intersected 483 meters of 0.70 grams of gold per tonne (1,585 feet averaging 0.02 ounces of gold per ton), including two higher grade intervals of 50 meters of 1.26 grams of gold per tonne (162 feet averaging 0.037 ounces of gold per ton) and 33 meters of 1.25 grams of gold per tonne (108 feet averaging 0.036 ounces of gold per ton).
SU-19 ended in mineralization and at least 10 holes are planned in its vicinity to begin defining the size of the new discovery. SU-11 was collared approximately 500 meters northwest of SU-10 and intersected three bands of mineralization summarized in the table below.
There are also over 900 historic diamond drill holes from both surface and underground drilling in the Brucejack area. Silver Standard anticipates being able to incorporate a portion of this data in future resource estimates.
A minimum of 8,000 meters of diamond drilling is planned to test targets in the Brucejack area, and three drills are currently at work on various targets.
Selected Brucejack Area Drill Results(i)
September 2009
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