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Silver Predator Corp. (TSX: SPD) (the “Company”) is pleased to announce results of the final 10 holes from its thirty-five hole drill program at the Taylor Project, located in White Pine County, Nevada. A total of 3,528 meters of angled RC holes were drilled to test for higher grade feeder veins as well as to expand the current mineral resource.
Significant results include:
A complete table of results and location map can be found on the Company’s website at (http://www.silverpredator.com/documents/SPD-NR11-09-Taylor-Results-Aug-17-FINAL.pdf).
The Taylor Project
The Taylor silver deposit is an epithermal, high-silica, low-sulfide replacement deposit hosted by folded and faulted Devonian carbonate rocks of the Pilot Shale, Guilamette, and Joana formations intruded by Tertiary rhyolite dikes and sills. The Taylor property includes a NI 43-101 compliant resource consisting of 1,123,000 tonnes of 85.71 g/t silver measured mineral resource, and 4,712,000 tonnes of 77.83 g/t silver indicated mineral resource totalling 14.9 million ounces contained silver; along with an additional 1.9 million ounces silver from an inferred mineral resource of 687,000 tonnes grading 87.1 g/t silver using a 41.1 g/t silver cutoff grade: (Hester, 2010).
The Company’s Taylor Project includes rights to a 1,320 ton per day mill with flotation and cyanide leach plants, water rights and approximately 3,900 acres of mining claims located near Ely, Nevada
2011 Drill Program
The 2011 drilling program extended stratabound silver mineralization to the northeast of the currently defined resource and extended the mineralization at depth and along strike in the Bishop and Argus pit areas. Notably, holes SPT11-026 and SPT11-027 both bottomed in mineralization. The Company plans to remodel the existing data on Taylor, to assist in future drill programs with the goal of preparing an updated resource estimate in Q2, 2012.
The next phase of drilling will concentrate on extending the stratabound northeast zone as well as testing feeder structures beneath the Argus and NE pits. In addition, the Company plans to conduct first phase drilling of the Chipps and Antimony Pit prospects, both of which feature jasperoid hosted gold-antimony mineralization lying adjacent to the existing silver resources at Taylor.
The Chipps deposit was drilled by Alta Gold and Nerco in the early 1990’s and a small, non-NI 43-101 compliant resource was defined by over fifty shallow RC drill holes. The gold occurs at the contact between the Joanna Limestone and the underlying Pilot shale, the same host rocks as seen at numerous mines in east-central Nevada including Bald Mountain, Easy Junior and Pan. The favorable horizon for the jasperoid hosted silver deposits at Taylor has not been tested at the Chipps and Antimony prospects, and may host additional mineralization beneath the gold bearing stratigraphy.
Sampling Methodology, Quality Control and Assurance
Samples were analyzed by ALS Chemex in Reno and Elko, Nevada. Refer to the Company’s news release dated July 5, 2011 for a complete discussion of sampling methods, quality control and assurance.
David R. Hembree, PGeo, Nevada Exploration Manager, is the Qualified Person as defined under National Instrument 43-101, overseeing Silver Predator’s Taylor exploration programs and has reviewed Information presented on QA/QC procedures and technical aspects of the drilling results in this press release.
About Silver Predator Corp.
Silver Predator Corp.’s corporate mandate is to explore and develop commercially viable silver resources in the leading silver districts of Yukon, Canada and Nevada, USA. Working within stable geopolitical jurisdictions, Silver Predator is focused on silver-dominant bulk tonnage and/or high grade opportunities. Proven management plus access to unparalleled geological talent in the Yukon and extensive experience in Nevada provide the ability to maximize shareholder value from the quality asset base.
