Huldra Silver Inc. Samples Up to 2920g/t Ag or 85.16oz/t Ag in New Mineralized Zone at Treasure Mountain
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/14/10 -- Huldra Silver Inc. (TSX VENTURE: HDA) (the 'Company' or 'Huldra Silver') is pleased to announce assay results from a new mineralized zone and completion of a 17 hole drill program. The samples were taken on September 12, 2010 by independent QP Erik Ostensoe, P.Geo and were highlighted by a 2920g/t chip sample over a width of 30.5cm. The new zone was discovered using mechanized trenching following up on results from a historical soil sampling program. All samples were analyzed at the Eco Tech Laboratory in Kamloops, B.C., a full service, ISO 9001:2008 accredited analytical laboratory. All lab quality control protocols were observed. Complete results are presented in the following: (note that 'g/t' represents 'grams per metric tonne' and that 34.286 grams equals one troy ounce per short ton, 'st' ):
East Zone Extension
The following chip sample results were from trenches beginning 190m east of where a 15 hole drill program was completed (results are pending) after previous chip samples yielded results up to 6650g/t Ag. Prior to receiving the lab results management decided to drill 2 additional shallow holes in the vicinity of sample WP 016 in an effort to test the new structure below surface and beneath the oxidization.
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Sample Descriptions - East Zone Extension
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Sample silver silver
No 12-Sep-10 Description g/tonne oz/tonne lead % zinc %
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Chip samples Width
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WP 016 Trench 190m
East of
Previous
Samples
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63981 west end of
trench North
wall 18' = 45.7 cm 16 0.47 0.43 0.27
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63982 vein - centre
of trench 26' = 66 cm 468 13.65 5.25 1.22
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63983 south wall of
trench 25' = 63.5 cm 20 0.58 0.12 0.16
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Second
trenched area
about 30 m
east of WP 016
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63984 east side of
trench 16' = 40.6 cm 54 1.58 0.51 0.51
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63985 center of
trench 24' = 61 cm 74 2.16 0.63 0.58
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63986 wall rock -
argillite 16' = 40.6 cm 12 0.35 0.11 0.16
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63987 specimen
sample (R.S.) grab sample 30 0.88 0.14 1.53
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63988 WP 017 southeast end
of trench 30' = 76 cm 340 9.92 4.02 1.03
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63989 WP 018 eastmost end
of trench grab sample 420 12.25 1.05 1.25
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WP 019 Lowermost
trench about
100m East of
WP 016
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63990 Oxidized Vein 36' = 91.4 cm 214 6.24 2.30 0.66
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63991 continuation
of sample no.
63990 30' = 76 cm 388 11.32 6.15 0.66
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63992 continuation
of sample no.
63991 12' = 30.5 cm 2920 85.16 38.50 0.50
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The surface expression of this structure was traced another 50m further east before the overburden became too deep to follow the structure any further. These results are very encouraging due to the anticipated strike length of the structure and the positive lab results despite the weathering and oxidization of the vein. There are existing roads and access points that will allow for drill access over a 400m length on this structure. Making a new discovery of this size demonstrates to us the exploration potential on the historic 7000 acre Treasure Mountain Property, 100% owned by Huldra Silver Inc.
The samples from the East Zone Extension begin approximately 1000 metres east of the Main Mine area where a NI 43-101 compliant resource estimate in 2009 reported a total vein indicated resource, using a 10oz/t Ag cut-off, of 33,000 tonnes grading 26.68oz/tonne Ag, 4.16%Pb, and 3.8% Zn and a total vein inferred resource, using a 10oz/t Ag cut-off, of 120,000 tonnes grading 29.76oz/tonne Ag, 2.79%Pb, and 4.36% Zn. 2750 metres of underground development has been completed on four levels in the main mine area.
Details of the Company's property can be found in its 43-101 Technical Report filed on Sedar on July 21, 2009.
Technical information in this news release has been reviewed and approved by Erik Ostensoe, P. Geo., the Company's independent Qualified Person as defined by NI 43-101. Huldra Silver is currently working on plans to put the Treasure Mountain Project, located 3 hours east of Vancouver, BC, into development subject to permitting and financing. The Company is also actively assessing other opportunities for acquisition and development.
On behalf of the Board of Directors
Ryan Sharp, MBA, President, CEO & Director
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's overall business development objectives and plans. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future, and include discussion of the Company's planned work to be undertaken as a result of the Company's receipt of the Mines Act Permit, and that the Company intends to put the Treasure Mountain Project into development. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause the Company's actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with silver exploration, (3) a decreased demand for silver, (4) any number of events or causes which may delay exploration and development of the Company's property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and labour problems, (5) the risk that the Company does not execute its business plan, (6) inability to finance operations and growth, (7) inability to obtain all necessary permitting and financing, and (8) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws. Additional information about the Company and these and other assumptions, risks and uncertainties is available in the Company's public filings with Canadian securities regulators, available on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contacts:
Huldra Silver Inc.
Ryan Sharp
President, CEO & Director
604-818-1486
ryan@huldrasilver.com / IR@huldrasilver.com
www.huldrasilver.com