Silver Mountain Mines Announces Board Appointment and Drill Results From its 2013 Winter Program
CALGARY, ALBERTA--(Marketwired - Jan 30, 2014) - Silver Mountain Mines Inc. (TSX VENTURE:SMM) ("Silver Mountain" or the "Company") announces the appointment of Mary P. Webster to the Board and drill results from its 2013 winter program on its wholly-owned Ptarmigan Property (the "Property"), located near Radium, British Columbia.
Mary P. Webster, B.Sc. Geology, brings extensive technical and corporate experience to the Company, including over 20 years field experience as geologist and project manager involving project planning, operations and new project generation. Two career technical highlights include Exploration Manager for Geddes Resources Ltd. (responsible for developing Windy Craggy, the largest copper deposit in the western world) and President of Liberty Mineral Exploration during its transition from the Yukon, NWT to Timmins, ON for launch as a nickel producer. Mrs. Webster served as the trusted in-house mining analyst to three corporate finance firms in Toronto. In addition, she was Founder and President of a 100% First Nation owned and controlled mining project development company involving 17 First Nations from Yukon and B.C. Mrs. Webster has instigated and managed cross-jurisdictional project compliance programs involving fisheries, wildlife, forestry, communities and First Nations, with all proponent and stakeholder considerations. Mrs. Webster also delivered a $25 million alliance between Major Operator/Banking Group and First Nation Company and was recognized for Best in Canada performance of junior resource fund management. She attended the Colorado School of Mines and holds a degree in geology from McMaster University.
"We are very pleased to announce the appointment of Mrs. Webster to our Board of Directors," commented Vince Goegan, SMM's Chairman of the Board. "Mary's depth of experience in the exploration mining and finance sectors will make a significant contribution to our company as we advance the new discoveries on our Ptarmigan Property and with the Company's near term corporate growth strategy." The appointment is subject to customary review by the TSX Venture Exchange.
The Drill Program, which commenced in December 2013, was designed to test two of the gravity anomalies identified, providing key sub-surface information required to evaluate the anomalies. Rock and soil samples recovered in the immediate area returned anomalous to highly anomalous geochemical results, supporting potential for sub-surface mineralization (see http://www.silvermountainmines.com/maps.asp).
A total of 3 holes were drilled, one vertical hole and two inclined holes. Hole PT13-101 was drilled immediately south of gravity anomaly B. A second hole, PT13 -102, was drilled at an inclination of -60 degrees toward azimuth 318 degrees to further test anomaly B. The third hole PT 13-103, was drilled at -50 degrees toward azimuth 76 degrees to test anomaly C (see http://www.silvermountainmines.com/maps.asp)
The holes provided valuable structural information and specific gravity data to further interpret the gravity results. Data from the gravity survey, combined with results from drilling, suggest an east-west cross fault along Redline Creek. The significance of a cross-fault to subsequent exploration of the Property is that fault intersections (i.e. the north-trending fault system in the Ptarmigan Basin and the east-west cross fault) often represent structural zones that are ideal hosts for subsequent mineralization events. These zones also represent significant exploration targets, as cross-faults provide a good environment for metal-bearing metamorphic fluids from deeper structural levels (see http://www.silvermountainmines.com/maps.asp).
A total of 20 samples were taken for determination of specific gravity analysis and assay (see November 13, 2013 news release). The results of this analysis and additional interpretation are intended to support a comprehensive 2014 drill program (see http://www.silvermountainmines.com/reports.asp).
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