Silver Mountain Confirms Extension of High Grade Silver Mineralization With Gold Values of Up to 37.3 g/t Over 0.77 Metres
CALGARY, ALBERTA--(Marketwired - Oct 15, 2014) - Silver Mountain Mines Inc. (TSX VENTURE:SMM) ("Silver Mountain" or the "Company") is pleased to announce drill results from the remainder of the 2014 drill holes completed on its wholly-owned Ptarmigan Property (the "Property"), located near Radium, British Columbia.
The Company's 2014 diamond drill program completed 28 drill holes comprising of approximately 3,690 metres in the Ptarmigan Mine area. The program successfully extended the known sub-surface extent of high grade, silver-rich, massive sulphide mineralization by approximately 110 metres from the 2012 drill hole intercepts above the Level 1 workings and approximately 160 metres from massive sulphides exposed at surface at Adit #2.
The mineralization has been confirmed by drilling from Adit #3 at the Ptarmigan Mine to, and through, the Iron Cap, a distance of approximately 1 km. Furthermore, the mineralization has been traced north to the West Vein on the North Ridge, a further 600 m. In total, the mineralization has been traced over approximately 1.6 km, with additional lenses and pods identified adjacent to and in association with the main zones of mineralization.
The results of diamond drill results from 2012 and 2014 on the Ptarmigan massive sulphide body demonstrates the sub-surface continuity of the mineralization, as well as its polymetallic character. Drill intercepts have documented grades of up to 22,945 g/t silver and 8.24% Cu (see News Release dated October 7, 2014) and 37.30 g/t gold (see below), with anomalous lead content. Intercepts having abundant sulphosalts have returned high grade silver analyses (see News Release dated October 7, 2014). Anomalous copper is also associated with the presence of sulphosalts.
The continuity of the massive sulphide mineralized body, interpreted to extend from a massive sulphide exposure at surface (Adit #2) through mineralization exposed in the Level 1 workings and extending through to the intercept documented in PT14-128 is expected to result in further extension of the mineralized body in subsequent drilling. The 2014 drill program has confirmed new mineralization at depth and along strike and the structure remains open along strike and at depth.
Summary of significant results from additional intercepts:
| Drill Hole | From (m) | To (m) | Width (m) | Ag (g/t) | Au (g/t) | Cu (%) |
| PT14-120 | 46.17 | 46.4 | 0.23 | 1,425 | 1.75 | 0.47 |
| PT14-122 | 57.82 | 58.00 | 0.18 | 407 | 0.19 | 0.13 |
| PT14-127 | 56.04 | 56.15 | 0.11 | 428 | 1.45 | 0.17 |
| PT14-128 | 84.50 | 85.27 | 0.77 | 3.17 | 37.30 | 0.00 |
| and** | 86.06 | 90.02 | 3.96 | 269 | 1.05 | 0.14 |
| includes | 86.06 | 86.87 | 0.81 | 422 | 0.72 | 0.22 |
| includes | 86.87 | 87.47 | 0.60 | 66.5 | 0.99 | 0.03 |
| includes | 87.47 | 87.86 | 0.39 | 427 | 1.75 | 0.17 |
| includes | 87.86 | 88.60 | 0.74 | 443 | 1.25 | 0.24 |
| includes | 88.60 | 89.42 | 0.82 | 137 | 1.25 | 0.07 |
| includes | 89.42 | 90.02 | 0.60 | 128 | 0.55 | 0.05 |
| *True widths have not been calculated and are therefore not known at this time | ||||||
| **Weighted Average Value | ||||||
Results from the 2014 drill program and map sections are available on the Company's website. Please see http://www.silvermountainmines.com/maps.asp for updated maps.
QA-QC: All samples were submitted to AGAT Laboratories ("AGAT") for analysis, an independent certified laboratory and preparation facility which maintains an ISO 17025 accreditation by the Standards Council of Canada (SCC). All samples were securely stored at the Ptarmigan Mine site and shipped to AGAT's Toronto Laboratory for analysis following industry protocol for standards and blanks to ensure independent integrity of analysis.
The content of this news release has been reviewed by Rick Walker, B.Sc., M.Sc., P.Geo., a Qualified Person for the purposes of NI 43-101, with the ability and authority to verify the authenticity and validity of the data herein.
About Silver Mountain Mines Inc. (TSX VENTUYRE:SMM)
Silver Mountain Mines Inc. is a Canadian based exploration and development company with 100% ownership of a 9,986 hectare property centered on the historical silver rich Ptarmigan Mine in south eastern British Columbia. The property hosts two styles of mineralization: silver rich, high-grade polymetallic epithermal veins and manto style massive / semi-massive sulphide mineralization.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions and factors that could cause actual results to differ materially from those in forward-looking statements Silver Mountain Mines Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. Neither the TSX Venture Exchange nor its Regulation Services Provider, as per the term defined in the policies of the TSX Venture Exchange, accepts responsibility for the adequacy or accuracy of the release.
ON BEHALF OF THE BOARD
Steve Konopelky, President and CEO
Contact
For further information on Silver Mountain
Mines Inc. please visit the Company's website
http://www.silvermountainmines.com and SEDAR
(www.sedar.com) or contact Mr. Steve Konopelky,
President & CEO of the Company.
