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BURLINGTON, ON, Sept. 20, 2011 /CNW/ – Silver Shield Resources (SSR-TSXV) is pleased to announce that it has sampled additional high grade silver near the previously announced north -easterly trending shear, which returned 1.79g/t Au, 4,031g/t Ag and 6.18% Cu over 0.5m, discovered as a result of a soil geochemistry survey at its 100% owned La Cumbre Silver-Gold Property. The soil sampling program shows the mineralized fault structure extends for at least 3,000 m or 3 km. east-west with a NE trending cross structure indicating another 1,500m of mineralization.
Further sampling, from the New Shear zone returned an assay of 0.89 g/t Au, 1,799 g/t Ag (52.5 oz/ton), 6.72% Cu, 0.08% Pb and 0.05% Zn over 0.5m. A second trench 8 metres SW of the original trench returned 0.43 g/t gold , 67.6 g/t silver and 2.52 % Cu over 0.25m (0-25 cm) and 0.024g/t Au, 35.1 g/t Ag and 0.57% Cu (25-50 cm) from the same structure. Given that the New Shear has shown assays over length and width on surface, it is now a credible drill target for the forthcoming winter 2011/12 drilling campaign.
Two composite samples of malachite-rich quartz and quartz-breccia float were taken in a north sloped area ~700 M north-northwest of the La Cumbre shaft. The first sample returned 0.125 g/t Au and 19.8 g/t Ag with high copper at 3.93% and the second sample returned 0.015 g/t Au and 20.2 g/t Ag with significant copper of 2.05 %. These samples were highly oxidized and leached thereby potentially leaching the silver, gold and other metals from the samples. The “Northern Slope” veining potentially represents yet another new quartz-breccia vein system discovered on the property. A total of 20 geochemical samples from the immediate area being assayed and it is hoped that they will point to the source of the mineralized float.
Additional follow-up prospecting on the Au-Cu-Pb-Zn-Ag soil geochemical survey identified a bullseye anomaly at L400W, 2+50N that returned 0.54g/t Au, 135.4g/t Ag and 6.7% Cu from malachite-rich quartz-breccia float pieces. This represents yet another mineralized area of the property for further evaluation.
The company has recently been performing surface work at the site in preparation for further exploration in late 2011. The La Cumbre Silver-Gold Property (7,000ha) had the first phase of drilling performed in 2008. Company workers have performed maintenance on the office building at the site and have performed initial small scale rehabilitation on the adit and shaft. The shaft and adits are being evaluated for a potential development of the levels by contract miners. An underground exploration development program is being planned that will improve understanding of the vein structures in the mine, provide continuous sampling along the veins, and provide material for bulk sampling and mill metallurgical testing.
Tim Towers, CEO commented “The La Cumbre Silver-Gold Property is proving itself to be a quality asset, which is further enhanced by the new discoveries.” With these new results and $1,820 USD gold and $40 USDsilver the company is planning a phase II Diamond drilling program for early 2012. The company maintains its stated focus on acquiring and developing gold and silver properties with near surface mineralization in order to minimize mining costs when developed. The La Cumbre Silver-Gold Mine is a past producer situated in an area with numerous past producers and producers, being only 65km southwest of Farallon Resources Campo Morado Mine (VMS) and 100km west of Goldcorps Los Filos Mine (Au).
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