Re: WOW!!! This is a huge increase
in response to
by
posted on
Dec 01, 2009 10:31AM
SSO on the TSX, SSRI on the NASDAQ
yes, not only 24 million ounces now, but almost 15 million is in indicated and inferred. and while the snowfield zone is lower grade (but there is a lot of it) the brucejack area is higher grade as well! i have no doubt that at current gold prices this is economic, and it will be a mine someday, especially considering what seabridge has nearby.
Silver Standard Resources Inc. (TSX:SSO - News)(NASDAQ:SSRI - News) is pleased to report a significant increase in gold resources at the Snowfield and Brucejack gold-silver-copper projects in northern British Columbia. For the combined Snowfield Zone and the Brucejack Area, Measured and Indicated gold resources increased to 23.80 million ounces and Inferred gold resources increased to 14.91 million ounces using a cut-off grade of 0.35 grams of gold-equivalent per tonne. The property is located 65 kilometers north of the town of Stewart.
At the Snowfield Zone, Measured and Indicated gold resources are 19.77 million ounces and Inferred resources are 10.05 million ounces. This zone also hosts significant copper and molybdenum with Measured and Indicated resources of 2.3 billion pounds of copper and 174.8 million pounds of molybdenum, and Inferred resources of 1.5 billion pounds of copper and 169.5 million pounds of molybdenum.
The Brucejack Area to date comprises six modeled deposits including four deposits previously reported in the Sulphurets resource. Measured and Indicated precious metals resources for the Brucejack Area increased to 4.04 million ounces of gold and 65.4 million ounces of silver and Inferred resources are 4.87 million ounces of gold and 71.5 million ounces of silver. The previous Sulphurets resource was focused on the higher grade underground mining potential while the current resource expands those parameters to include surface bulk mining opportunities in light of higher precious metals prices.
The Snowfield Zone resources were estimated from 134 drill holes completed by Silver Standard totaling 56,133 meters in length. Grade capping levels were derived for each resource domain from examination of probability and capping graphs. Bulk density values were derived from a total of 446 measurements and applied per lithological unit. The Snowfield Zone mineral resource estimate is contained within a volume of 880 million m cubed.
The Brucejack Area resources were estimated from 359 historical surface drill holes, 439 historical underground drill holes, and 34 drill holes completed by Silver Standard, for a total length of 96,150 meters. Grade capping levels were derived for each resource domain from examination of probability and capping graphs. A bulk density value for resource estimation of 2.75 t/m cubed was derived from historical records and 313 measurements taken by Silver Standard. The Brucejack mineral resource estimate is contained within a volume of 239 million m cubed.