Silver Standard extends South Ridge

Ongoing drilling by Silver Standard Resources (SSO-T) has extended the South Ridge zone on the Pitarrilla silver project, 150 km north of Durango city, Mexico.

The latest results are highlighted by hole no. 50, which intersected 199.6 metres running 102.9 grams silver per tonne, including the first 10.7 metres from surface averaging 285.3 grams silver).

Hole no. 51 returned 115.8 metres averaging 131.6 grams silver, including 53.4 metres of 177.9 grams silver). Nearby hole no. 47 encountered 132.5 metres at 146.2 grams silver. PD-45 and PD-47 were collared on the west side of the ridge.

Around 100 metres to the north, hole no. 45 intersected 269.9 metres averaging 127 grams silver, including 80.8 metres of 170 grams.

Meanwhile, on the east side of the ridge, hole 42 returned 30.5 metres running 163.7 grams silver, while hole 43, collared about 150 metres to the south, intersected 32 metres of 136.1 grams silver.

Silver Standard says the holes suggest that the intersections represent a thick sequence of mineralized volcanic tuffs, breccias and rhyolitic intrusives, which dip gently to the southeast.

The zones measures up to 110 metres in thickness over an area measuring 300 metres by 400 metres.

South Ridge is one of five mineralized zones identified by drilling so far; the others are: Cordon Colorado, Pena Dyke, Breccia Ridge/South Ridge, Javelina Creek, and Saddle zones.

In early September, SSO linked Pitarilla’s Breccia Ridge and South Ridge zones for a total strike length of more than 1.1 km. The zone remains open along strike and at depth.

Drilling on the Breccia Ridge zone is highlighted by an 83.8-metre section running 130.2 grams silver, 1.6% zinc, and 0.6% lead, including 28.2 metres of 308.6 grams silver, 1% zinc and 0.7% lead.

RC drilling some 500 metres to the north, on the newly discovered Saddle zone, cut up to 28 metres containing 154 grams silver. Infill drilling on the recently discovered near-surface Javelina Creek zone, about 1 km north of the Breccia Ridge zone, is highlighted by 50 metres of 198.8 grams silver. The zone measures 200 meters by 300 meters.

So far, indicated resources in the Cordon Colorado and Pena Dyke zones are pegged at 16.5 million tonnes grading 113.5 grams silver, for 60.2 million contained ounces of silver. Another 4.8 million tonnes of inferred material runs 85.1 grams of silver.

The company is currently updating resource estimates at Cordon Colorado, Pena Dyke, with an initial resource estimate for Javelina Creek to follow. The company has 2 drill rigs running, and plans a resource estimate for the Breccia Ridge/South Ridge zone once drilling wraps up.

Engineering studies and metallurgical test work also continue. Preliminary tests indicate silver recoveries of 95% to 99% via pre-treating by pressure oxidation, as some of the silver is refractory. Work to optimize the process continues.

The company plans to focus its efforts for the rest of the year on extension- and infill drilling on the Breccia Ridge/South Ridge zone. Drilling will also target the Saddle zone.