SNS Silver Announces Drill Results That Significantly Increase the Vertical Extent of the South Vein Mineralization
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 6, 2008) - SNS Silver
Corporation ("SNS" or the "Company") (TSX VENTURE:SNS) is pleased to
announce assay results from the South Vein diamond drilling program at
the Crescent Property near Kellogg, Idaho.
Highlights of the results are as follows:
- Diamond drill hole H-304 grades 11.0 troy ounces of silver per
ton (377 grams per tonne) with a true width of 7.8 ft (2.38 meters)
covering the interval from 1,305.0 ft to 1,318.2 ft;
- Diamond drill hole SNS-1001 grades 11.2 troy ounces of silver
per ton (384 grams per tonne) with a true width of 5.8 feet (1.77
meters) covering the interval 927.0 ft to 936.0 ft;
- Diamond drill hole SNS-601 grades 7.3 ounces of silver per
ton (250 grams per tonne) with a true width intercept of 2.3 ft (0.70
meters) covering the interval from 702.0 ft to 706.0 ft.
All drill holes were NQ core size with recoveries exceeding 80%
and were processed as described in the Quality Assurance and Quality
Control section found below.
Core hole H-304 was drilled from the western-most underground
diamond drill station recently developed on the Hooper Level of the
historic Crescent Mine. This South Vein intercept is located
approximately 500 ft down dip from the lowest previously reported
intercept (core hole SNS-501, first reported August 29, 2007) and is
consistent with the mineralogy and tenor of other South Vein intercepts
as well as the expectations of this exploration target (see SNS Letter
to Shareholders filed on SEDAR April 30, 2008 for a full description of
the South Vein target). Significant South Vein mineralization has now
been demonstrated to persist over a vertical extent of more than 1,200
ft.
Core hole SNS-1001 was drilled from the surface and has
extended the South Vein mineralization approximately 200 ft to the
west. Core hole SNS-601 was also drilled from the surface and appears
to have delineated the eastern extent of the South Vein definition
drilling area.
"Overall, the South Vein mineralization has now been
demonstrated to extend at least 1,200 ft vertically and approximately
600 ft horizontally, and it is still open to the west as well as up and
down dip. In fact, the South Vein structure is known to extend downward
at least 3,400 ft below the H-304 intercept to where it was drifted on
the 3100 level of the historic Crescent Mine. Mineralized shoots of
significant dip length are prevalent in the Silver Belt of the Coeur
D'Alene Mining District" according to SNS Senior Geologist Brian White,
Ph.D. "We were extremely busy in June and July with as many as four
drill rigs going at one time and over 33,000 ft of core drilled. Assay
results are starting to come back from the lab and we'll be providing
updates on the Alhambra Vein as well as more results from the South
Vein over the next several weeks."
The following table contains selected results from the drill holes discussed above:
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Interval True Silver
Hole Target From To Length Width Grade
Number (ft) (ft) (ft) (ft) (oz/ton)
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H-304 South Vein 1,304.1 1,305.0 0.9 0.5 3.0
-------------------------------------------------------------------------
H-304 South Vein 1,305.0 1,306.0 1.0 0.6 28.7
-------------------------------------------------------------------------
H-304 South Vein 1,306.0 1,307.0 1.0 0.6 29.2
-------------------------------------------------------------------------
H-304 South Vein 1,307.0 1,307.9 0.9 0.5 4.0
-------------------------------------------------------------------------
H-304 South Vein 1,307.9 1,308.9 1.0 0.6 12.3
-------------------------------------------------------------------------
H-304 South Vein 1,308.9 1,310.0 1.1 0.6 9.6
-------------------------------------------------------------------------
H-304 South Vein 1,310.0 1,311.0 1.0 0.6 2.9
-------------------------------------------------------------------------
H-304 South Vein 1,311.0 1,312.0 1.0 0.6 0.2
-------------------------------------------------------------------------
H-304 South Vein 1,312.0 1,313.2 1.2 0.7 2.0
-------------------------------------------------------------------------
H-304 South Vein 1,313.2 1,314.5 1.3 0.8 1.9
-------------------------------------------------------------------------
H-304 South Vein 1,314.5 1,315.3 0.8 0.5 13.2
-------------------------------------------------------------------------
H-304 South Vein 1,315.3 1,316.4 1.1 0.6 3.0
-------------------------------------------------------------------------
H-304 South Vein 1,316.4 1,317.2 0.8 0.5 2.4
-------------------------------------------------------------------------
H-304 South Vein 1,317.2 1,318.2 1.0 0.6 35.3
-------------------------------------------------------------------------
H-304 South Vein 1,318.2 1,319.2 1.0 0.6 2.8
-------------------------------------------------------------------------
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SNS-
1001 South Vein 925.4 927.0 1.6 1.0 2.4
-------------------------------------------------------------------------
SNS-
1001 South Vein 927.0 929.4 2.4 1.6 31.0
-------------------------------------------------------------------------
SNS-
1001 South Vein 929.4 931.7 2.3 1.5 2.1
-------------------------------------------------------------------------
SNS-
1001 South Vein 931.7 933.1 1.4 0.9 5.5
-------------------------------------------------------------------------
SNS-
1001 South Vein 933.1 934.3 1.2 0.8 4.5
-------------------------------------------------------------------------
SNS-
1001 South Vein 934.3 936.0 1.7 1.1 4.4
-------------------------------------------------------------------------
SNS-
1001 South Vein 936.0 938.0 2.0 1.3 0.0
-------------------------------------------------------------------------
-------------------------------------------------------------------------
SNS-
601 South Vein 701.0 702.0 1.0 0.6 0.3
-------------------------------------------------------------------------
SNS-
601 South Vein 702.0 703.0 1.0 0.6 5.5
-------------------------------------------------------------------------
SNS-
601 South Vein 703.0 704.2 1.2 0.7 6.7
-------------------------------------------------------------------------
SNS-
601 South Vein 704.2 706.0 1.8 1.0 8.6
-------------------------------------------------------------------------
SNS-
601 South Vein 706.0 707.3 1.3 0.7 1.4
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Quality Assurance / Quality Control Procedures for Diamond Drilling at the Crescent Project:
SNS Silver follows rigorous procedures for handling of diamond
drill core at the Crescent property. These procedures have been
developed by staff geologists with guidance from SRK Consulting (USA),
and are designed to produce an accurate dataset to serve as the basis
for comprehensive mine planning.
The core is processed and stored in buildings that are locked
when geologic staff are not present. The core is delivered to the core
processing facility by the contract drillers at the end of each shift,
where it is promptly photographed and examined for mineralized
intercepts.
The core is logged noting recoveries and geologic features.
Samples are marked and split under the supervision of a geologist. One
split is returned to the core box and labelled, while the other split
is placed in a sample bag with a paper ticket.
The samples are shipped to ALS Chemex in Sparks or Elko, Nevada
for assay preparation. Commercial blanks and standards are included in
each batch. Prepared sample pulps are subsequently shipped to the ALS
Chemex laboratory in Vancouver, B.C. and are analyzed by ICP for Ag,
Cu, Pb and Sb. Silver fire assays are performed on all samples
returning greater than 1500 ppm Ag by the ICP method.
The batch is rerun if any standard results are outside plus or
minus three standard deviations of the average stated Ag grade, or the
blank results exceed 5 ppm Ag. Results are not disclosed unless the
standards and blanks have met specified tolerances.
For a more detailed description of Crescent Project QA/QC Procedures see our website at www.snssilver.com.
Thomas F. Fudge Jr., P. Eng, President and Chief Executive
Officer of SNS Silver Corp. is a qualified person as defined by
National Instrument 43-101 and has supervised the technical preparation
of this press release.
Silver Wheaton is our largest shareholder with 12%.
SNS Silver Corporation (TSX VENTURE:SNS) is an exploration
company, whose primary asset is the 100% owned Crescent Property, which
hosts the historic Crescent Mine, located near Kellogg, Idaho. The
Property is located in one of the largest silver districts in North
America with over one billion ounces of silver produced. The property
consists of 24 patented mining claims over approximately 350 acres,
alongside 40 acres of surface rights. The Company currently has a
comprehensive and well-funded drill program underway. Their main focus
is on upper country core drilling on the Alhambra and South Veins, as
well as restoration and extension of existing underground
infrastructure.
The Company has not completed the work necessary to
independently verify the classification of the mineral resource
estimates and is not treating the mineral resource estimates as
National Instrument 43-101 defined resources verified by a qualified
person. The historical estimates should not be relied upon. The
Crescent Mine will require considerable further evaluation, which the
Company's management and consultants are in the process of completing.
FOR FURTHER INFORMATION PLEASE CONTACT:
SNS Silver Corp.
David Greenway
Vice President, Corporate Development
(604) 689-0896 or Toll Free: 1-800-663-4567
Email: dg@snssilver.com
Website: www.snssilver.com
