Silver Bear Resources has released the initial results of the diamond drill campaign conducted at the Mangazeisky silver property, Russia. This property has greater than 100 silver occurrences in the main northwest-north trending mineralized formation, which extended along a corridor of 35 km.
Location Plan of 2011 Exploration Drilling Activities
This drill program has validated the company’s confidence in the possibility of growing the ongoing NI 43-101 compliant resource of 30.5 Moz of silver at 562 g/t silver of inferred mineralization and 17.9 Moz of silver at 518 g/t silver of indicated mineralization. The Mangazeisky property license has enclosed 570 sq. km.
The company has cut 1,090 g/t silver over 1.0 m in hole V11-161, 589 g/t silver over 1.4 m and 354 g/t silver over 3.4 m in hole V11-162C, 493 g/t silver over 0.5 m in hole V11-182. It has intercepted mineralization in the four drill holes at Nizhny Endybal, which is around 3 km towards the southeast part of Vertikalny. Many diamond drill holes were encountered in this region, which demonstrated three mineralization zones in a veined stock work. The intercepts found during 2011 support in connecting the prominent surface mineralization to a possible expansion at depth. Silver Bear is waiting for the assay results.
The focus of the 2011 diamond drill campaign is to examine the prospective expansions of the mineral resources in the Northwest, Central, and Southeast zones in Vertikalny, and analyze the regional targets that are located external to the mineral resource region. The company has drilled 9100 m, totaling around 50 holes.