Renamed from American Bullion Development Corp.
North American Royalties and Assets in Nevada and the Yukon
Message: Silver Predator intersects 5.4 m of 1,008 g/t Silver, 22.27% Lead and 3.88% Zinc
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NEWS RELEASE |
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Silver Predator intersects 5.4 m of 1,008 g/t Silver, 22.27% Lead and 3.88% Zinc |
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Vancouver, British Columbia, February 27th, 2012: Silver Predator Corp. (TSX:SPD) (the “Company”) is pleased to announce results from its nine hole 2011 drilling program at the Siltstone Zone of its Rusty Project, located in the Selwyn Basin, in the central Yukon and adjacent to ATAC Resources Inc.’s Rakla (RAU) Gold Project. Significant results include:
The Siltstone Zone is one of twelve identified distinct mineral showings located across the Rusty Project. Regional soil sampling was undertaken in August 2011, and the Siltstone Zone showing was targeted with 1,335 m of diamond drilling in late September and October 2011 to validate historical drill intercepts and grades and test for the continuation of mineralization along strike. Previous drilling at the Siltstone Zone had outlined a high-grade lens of silver rich material within a northeast trending fracture system that was exposed by historic trenching over a strike length of 125 m. (1). The Company’s 2011 drilling program succeeded in expanding the Siltstone Zone along strike to the northeast as well as confirming historic mineralized intercepts. As a result, the Siltstone Zone now extends for more than 250 m along strike and remains open in both directions as well as down dip. Mineralization at the Siltstone zone consists of a planar “cloud” of stockwork quartz-carbonate veinlets with galena ± sphalerite ± chalcopyrite and an irregularly shaped lens of massive galena, tetrahedrite, freibergite and sphalerite parallel to and truncated by a fault. The primary Siltstone vein itself strikes northeast and dips moderately to steeply southeast. Where the vein margins are intact, stringers of galena and sphalerite are seen extending into the shale wall-rock. Where the vein is faulted, the mineralization is strongly oxidized along the fractures and a transition to bleached, non-mineralized siltstone is sharp. Rusty Project The Rusty Project is adjacent to the northern edge of ATAC’s Rackla (RAU) Gold project, where numerous carbonate replacement showings as well as the newly identified Carlin-style mineralization at Osiris occur. The Project is located 86 km northeast of the Keno Hill Silver District and comprises 417 claims (8,779 hectares) under option from Strategic Metals Ltd. and ATAC Resources Ltd. The property is host to silver, lead and zinc mineralization hosted in veins, breccias and replacement zones within Upper Proterozoic to Paleozic dolomite and shale of the Selwyn Basin. Historical work at the Rusty Property includes mapping, prospecting, geochemistry, geophysical surveys, trenching and diamond drilling. This work identified twelve showings within the current boundaries of the Project. Chip and |
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