TSX: SBR Last:
Silver
-- 1.00m @ 349g/t Ag in V11-189
-- 0.50m @ 493g/t Ag in V11-182
-- 1.25m @ 230g/t Ag in V11-182
-- 0.90m @ 246g/t Ag in V11-1772.90m @ 137g/t Ag (including 0.80m @ 306g/t
Ag) In V11-189
Drilling completed during the 2011 exploration program identified additional zones of potential mineralisation in the Central Zone at Vertikalny which the Company intends to explore further during its 2012 exploration program. Figure 2 illustrates the approximate location of the Central Zone's potential mineralisation.
Table 1 - Target Mineralisation
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Silver (g/tAg) Tonnes (Million)
Zone (range) (range)
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Central East (east parallel and
joining structures) 300 - 400 0.5 - 1.0
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Central Main (main structure) 250 - 350 0.3 - 0.4
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Northwest Zone (main structure) 250 - 350 0.1 - 0.3
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The reader is cautioned that the potential quantity and grade given in the table above is conceptual in nature, that there has been insufficient exploration conducted to date to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Commenting on these results,
To view FIGURE 1: MANGAZEISKY LICENSE SHOWING VERTIKLANY RESOURCE AND HISTORICAL, please visit the following link: http://media3.marketwire.com/docs/779004_fig_1.pdf
To view Figure 2 - Central Zone Target Mineralisation, please visit the following link: http://media3.marketwire.com/docs/779004_fig_2.pdf
Table 2 - Drill Assays
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(i)
Inter-
cept
Drill Depth Depth Width Silver Gold Lead Zinc
Zone Hole From To (m) g/t g/t % %
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Northwest zone V11-161 147.5 148.5 1.00 134 2.50 1.68
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V11-161 157.1 158.1 1.00 1090 16.40 18.10
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V11-163 261.95 262.3 0.35 87.3 2.99 8.83
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V11-164 nsv
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V11-165 181.60 182.60 1.00 54 0.78 1.95
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V11-165 215.20 216.20 1.00 54 0.80 9.04
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V11-169 nsv
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V11-186 44.50 45.50 1.00 538 2.10 2.20
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Central Zone: S-
flank V11-162C 76.80 80.20 3.40 354 6.31 3.10
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incl. 1.40 583
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V11-162C 134.20 134.80 0.60 91 0.36 1.53
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V11-168 81.25 82.30 1.05 84 2.07 0.71
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V11-168 95.85 96.40 0.55 79 7.83 1.41
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V11-171 41.60 42.20 0.60 92 1.49 4.05
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V11-174 nsv
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V11-176 nsv
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V11-191 24.35 25.65 1.30 87 8.77 2.74
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Central Deeps V11-177 427.40 428.50 0.90 246 0.48 5.15 2.05
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V11-182 93.00 93.50 0.50 493 0.83 9.75
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V11-182 347.45 348.70 1.25 230 5.87 1.00
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V11-182 350.70 352.40 1.70 124 1.52 0.65
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V11-187A 81.95 82.70 0.75 172 0.76 0.67
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V11-187A 162.50 163.50 1.00 55 1.43 0.63
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V11-187B 308.40 309.00 0.60 252 0.27 4.89
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V11-187B 313.50 314.20 0.70 224 3.74 5.06
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V11-187B 315.20 317.20 2.00 77 0.53 4.23
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V11-187B 318.20 319.20 1.00 58 0.42 1.55
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V11-187B 323.50 324.50 1.00 67 0.84 1.16
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V11-187B 423.20 423.40 0.20 248 0.75 0.57 1.95
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V11-187B 430.80 431.80 1.00 64 0.43 1.29 1.97
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V11-187B 435.50 437.00 1.50 150 0.33 0.27 0.41
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incl. 0.50 318
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V11-187B 439.00 439.80 0.80 52 0.10 0.16
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V11-187B 441.30 443.90 2.60 157 0.92 2.69
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V11-187B 453.00 455.00 2.00 97 0.48 0.26 1.16
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V11-189 97.50 98.00 0.50 88 0.82 0.75
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V11-189 125.20 126.20 1.00 349 1.21 0.91
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V11-189 300.60 301.30 0.70 70 0.24 1.29
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V11-189 303.70 304.70 1.00 52 0.10 0.32
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V11-189 306.70 309.60 2.90 137 0.23 1.01
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incl. 0.80 306
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V11-189 324.00 325.00 1.00 86 0.13 1.19
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V11-189 327.40 328.30 0.90 82 0.34 2.37
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V11-189 337.00 337.60 0.60 59 0.17 0.72
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V11-190 91.70 93.00 1.30 63 0.20 6.32
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V11-190 112.50 113.00 0.50 167 0.39 1.41
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South East
Extension V11-173 93.60 96.00 2.40 129 0.77 0.24
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incl. 0.40 206
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V11-180 nsv
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V11-183 nsv
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V11-183B 46.90 47.40 0.50 199 8.89 0.34
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V11-184 nsv
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Nizhniy Endybal
Prospect END-14B 24.70 25.10 0.40 242 6.33 0.08
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END-14B 30.10 31.00 0.90 84 1.37 0.23
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END-14B 41.00 42.00 1.00 79 1.48 0.30
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END-14B 97.70 98.30 0.60 640 0.49 0.32
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END-14B 105.70 106.30 0.60 183 0.24 0.59
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END-15A nsv
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END-16 104.00 105.00 1.00 144 0.02 0.03
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END-16 124.00 125.00 1.00 59 0.06 0.03
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END-16 159.00 160.00 1.00 145 0.02 0.01
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END-16 161.00 162.00 1.00 59 0.01 0.01
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END-16 163.00 165.00 2.00 362 0.05 0.02
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incl. 1.00 508
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END-17 13.70 14.20 0.50 102 0.36 0.08
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END-17 77.50 78.50 1.00 60 0.00 0.02
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END-17 82.50 89.50 7.00 100 0.06 0.03
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END-17 94.50 95.50 1.00 52 0.02 0.04
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END-17 96.50 97.50 1.00 356 0.02 0.08
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END-17 104.50 105.50 1.00 508 0.02 0.10
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END-17 114.50 115.50 1.00 90 0.01 0.04
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END-17 120.50 121.50 1.00 176 0.05 0.07
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END-17 206.50 207.50 1.00 263 0.09 0.07
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END-18 62.80 63.50 0.70 206 0.03 0.01
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END-18 71.00 72.00 1.00 67 0.53 0.03 0.06
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END-18 89.00 90.00 1.00 28 0.73 0.04 0.02
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(i) True width is approximately 60% of the quoted intercept width
nsv = no significant values (above 50g/t Ag);
Holes abandoned due to technical difficulties before reaching target depth:
V11-162,V11-162A, V11-162B, V11-164, V1 V11-166A, V11-172, V11-174, V11-
174A, V11-174B, V11-181, V11-181A, V11-183, V11-183A, V11-190
Twinned holes drilled on Central Zone for metallurgical testwork: V11-167,
V11-170, V11-172, V11-175, not part of this
Holes not sampled owing to lack of visible mineralisation: V11-178, V11-179,
V11-185, V11-188
Interpretation of assay results from the drill-core at Nizhniy Endybal, the area located approximately 3 kilometres from the Vertikalny deposit, remains ongoing. Some of the 2011 assays (listed in Table 2) include:
-- 0.60m @ 640g/t Ag in END-14B -- 2.00m @ 362g/t Ag (including 1.00m @ 508g/t Ag) in END-16 -- 7.00m @ 100g/t Ag in END-17 -- 1.00m @ 356g/t Ag in END-17 -- 1.00m @ 508g/t Ag in END-17
Diamond drill holes completed at Nizhniy Endybal in 2005 included three significant stratigraphically-controlled silver-bearing intersections with vertical widths from 4 metres to 64 metres. Drilling completed during 2011 has confirmed this mineralisation, which has been determined to be hosted in at least three different sandstone units of 15 metres to 60 metres thickness, enclosed by interbedded siltstones. The sandstones are siderite-stockworked to varying intensity, and mineralised in proximity to steep cross-cutting hydrothermal feeder structures. The silver content depends on the level of silver-sulfosalts (Freibergite) precipitated in the fracture-vein network. An assessment of target mineralisation based on the Company's analysis of its 2011 drilling data and historical work is pending. Based on management's initial interpretations, the following characteristics are favourable:
1. The prospect has multiple, thick, gently dipping mineralised bodies;
2. The silver-bearing sandstone units are outcropping on a vertical cliff-
face, on the hill-slope above, and have now been drilled below the
valley floor;
3. The mineralisation is open to the north and south along strike, and to
depth; and
4. Silver is predominantly hosted in sulfosalts and not finely disseminated
in galena as is the case at Vertikalny (see Table 2 lead assays).
Future exploration of this area will remain focused on defining the west to east lateral extents and to determine the geometry of potential silver concentrations.
Commenting on the overall exploration results,
2012 Exploration Work Plan
Management of the Company is currently developing its 2012 exploration program. The main focus of the program will be on:
1. Mineral resource estimate extensions of the Northwest Zone where 1.0m @
538g/t Ag was intersected in 2011;
2. Upgrading confidence level of inferred resources to that of indicated
resources; and
3. Increasing drill density around the target mineralization in the above
noted zones as well as at Nizhniy Endybal.
Geological Sampling Procedures
A Quality Assurance/Quality Control program is part of the drilling
program on the Mangazeisky deposits. This program includes chain of
custody protocols as well as systematic submittals of standards,
duplicates and blank samples into the flow of samples produced by the
drilling. Prior to 2011 analysis was carried out at Russian certified
laboratories in Yakutsk and Aldan. Analysis for 2011 was completed by
Mr.
Tetra Tech completed a NI 43-101 Technical Report supporting the
mineral resource estimate. Tetra Tech also completed the preliminary
economic assessment ("PEA") discussed in this news release, released by
Silver Bear
Forward-Looking Information
The PEA is preliminary in nature and is based on a number of assumptions that may be changed in the future as additional information becomes available. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The PEA includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized.
This release and subsequent oral statements made by and on behalf of
the Company may contain forward-looking statements, which reflect
management's expectations. Wherever possible, words such as "intends",
"expects", "scheduled", "estimates", "anticipates", "believes" and
similar expressions or statements that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur or be
achieved, have been used to identify these forward-looking statements.
Although the forward-looking statements contained in this release
reflect management's current beliefs based upon information currently
available to management and based upon what management believes to be
reasonable assumptions, Silver Bear cannot be certain that actual
results will be consistent with these forward-looking statements. A
number of factors could cause events and achievements to differ
materially from the results expressed or implied in the forward-looking
statements. Such risks factors include but are not limited to risks
factors identified by Silver Bear in its continuous disclosure filings
filed from time to time on SEDAR. These factors should be considered
carefully and prospective investors should not place undue reliance on
the forward-looking statements. Forward-looking statements necessarily
involve significant known and unknown risks, assumptions and
uncertainties that may cause Silver Bear's actual results, events,
prospects and opportunities to differ materially from those expressed or
implied by such forward-looking statements. Although Silver Bear has
attempted to identify important risks and factors that could cause
actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors and
risks that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, prospective investors should not place undue
reliance on forward-looking statements. These forward-looking statements
are made as of the date of this release, and Silver Bear assumes no
obligation to update or revise them to reflect new events or
circumstances, unless otherwise required by law. The head office of
65 Queen Street West
Suite 805, P.O. Box 71Toronto, ON M5H 2M5 For further details, please visit www.silverbearresources.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Silver Bear Resources Inc.
Dominique Vaillancourt
Manager, Investor Relations
65 Queen Street West , Suite 825, Toronto ON
dvaillancourt@silverbearresources.com
Silver Bear Resources Inc.
Mark Trevisiol
President and Chief Executive Officer
65 Queen Street West , Suite 825, Toronto, Ontario , M5H 2M5
www.silverbearresources.com
Source: Silver Bear Resources Inc.
