Silver Mountain Mines Announces Completion of 2013 Program and Provides Corporate Update
CALGARY, ALBERTA--(Marketwired - Sep 11, 2013) - Silver Mountain Mines Inc. (TSX VENTURE:SMM) ("Silver Mountain" or the "Company") is pleased to announce that its 2013 exploration field program has successfully been completed on its wholly-owned Ptarmigan Mine property (the "Property"), located near Radium, British Columbia.
The proposed gravity survey (see News Release dated July 23, 2013) was expanded, with data acquired on the Ptarmigan/Iron Cap, Horsethief and Gopher Creek and Nip and Tuck grids. A total of 1,418 stations were measured along 74 lines over 76 kilometer throughout high areas of interest.( http://www.silvermountainmines.com/maps.asp) Strong density contrasts are expected in the resulting gravity data between fault, vein and/or manto-style massive sulphide mineralization (previously reported form the Property) and predominantly siliceous dolomites comprising the host rocks. The resulting gravity data is expected to delineate several, prominent anomalies for subsequent evaluation and follow-up assessment.
"Our goal is to obtain geophysical profiles across fault systems in areas documented to host precious and/or base metal-enriched, massive sulphide mineralization, including gold, silver, copper and lead. The gravity data is further expected to help constrain the location, depth and possible size of each anomaly, resulting in well-defined drill targets for a 2014 exploration program. The gravity survey is further expected to assist in delineating structural features, including faults and intrusive contacts, and potential alteration that may be related to mineralization" says Steve Konopelky, President of Silver Mountain.
The on-going Geochemical Sampling Program resulted in collection of additional soil, silt and/or rock samples, 151 rock samples, 11soils and 14 silts samples were collected and have been submitted to AGAT Laboratories for quantitative analysis. Results from the geochemical sampling program are pending and will be reported once analytical results have been received and reviewed by the Company. Please see http://www.silvermountainmines.com/maps.asp for updated maps
Additionally, the Company acquired 100% ownership of 699 hectares of adjacent lands to increase our position to 9,986 hectares during this year's program.
Lastly, the Company also announces that Mr. Charles Burgess, Director of the Company, will be retiring from the board at this year's Annual General Meeting. The Company thanks Mr. Burgess for his efforts and contributions, and wishes him well in his future endeavors.
About Silver Mountain Mines Inc. (TSX VENTURE: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.
For further information on Silver Mountain Mines Inc. please visit the Company's website http://www.silvermountainmines.com and SEDAR (www.sedar.com).
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