SILVER BEAR RESOURCES INC. : http://www.silverbearresources.com/ : QwikReport
Overview
Detailed information on the Mangazeisky Project is available in the Technical Reports dated March 31, 2009 and October 15, 2007, respectively. To access these reports please see Technical Reports. The following presents a brief summary of the Mangazeisky Project.
Summary
Large exploration license (570 km2) in a highly prospective, emerging silver district;
Inferred resource estimate of 1.9 million tonnes at 508 grams per tonne for 31 million ounces;
Silver Bear holds a 100% interest in the project;
Silver Bear holds clear title to the project, the license is in good standing and was recently extended through December 2011;
Up to twenty (20) known silver anomalies identified within the license area;
Bonanza grades and specimen quality native silver identified at the Vertikalny vein;
Strong local and corporate management with experience exploring in Russia;
Excellent community and government relations;
Sufficient financing in place to allow exploration to continue through 2010;
Vertikalny vein demonstrates excellent potential to host a significant silver resource;
Other, sub vertical, vein anomalies within the license area returned encouraging results;
The Mangazeisky Project is located at 65º39' N latitude, 130º11' E longitude; in the north central portion of Yakutia, Russia; approximately 400 km north of the capital city of Yakutsk (pop 300,000). Access to the site is limited to a seasonal winter road from January through April. Small fixed wing aircraft and helicopters provide access to the site during the remainder of the year.
Russian Cossacks discovered silver, lead and zinc mineralization in 1764 and the property has seen sporadic exploration since that time. From 1991 to 2003, JSC Yangeologia identified more than 20 silver anomalies within the license area. For a general location of these anomalies please refer to Property Maps.
Silver Bear acquired a 100% interest in the Mangazeisky Project in October 2004. Through 2008, the Company completed 12,945 metres of drilling and approximately 20,000 metres of trenching, predominantly over a 1.5 km portion of the Vertikalny vein, a sub vertical, narrow vein system that cross cuts sedimentary stratigraphy over a 5.1 km strike length. A number of "specimen quality" native silver pieces have been identified and drill and trench results include several "bonanza style" intercepts in excess of 1,000 grams per tonne silver.
For a complete table of the Vertikalny results please refer to the Vertikalny Results.
In addition to the excellent results at Vertikalny, Silver Bear's 2008 exploration effort focused on preliminary evaluation of additional vein targets within the license area. During the 2008 field season, surface geochemical sampling returned favourable results from the Zabytiy target (approximately 5 kms north of Vertikalny) and the Kis-Kuelskiy target (approximately 20 kms to the southeast of Vertikalny).
Both Zabytiy and Kis-Kuelskiy appear to be similar to the Vertikalny vein in that silver mineralization appears to be related to sub-vertical veins that cross cut sedimentary stratigraphy. Surface grab samples at both targets returned values in excess of 1,000 grams of silver per tonne.