SILVER FIELDS’ KEREMEOS EXPLORATION PROGRAM UPDATE
Silver Fields Resources Inc. is pleased to report that exploration on its 100% owned Keremeos Silver Property has discovered several new mineralized areas. In addition, a large grid has been surveyed over the targeted area east of the former Dankoe Mine and over 300 soil samples have been submitted for assay. Sampling is ongoing and is expected to produce close to 500 samples in this phase of exploration. A geophysical survey (Mag, VLF-EM) of the grid area has been completed by a well-known consulting firm and report preparation is underway.
A number of drill-sites were selected by the Silverfields’ geological team and permits have been filed for up to 2,000 meters of drilling. A government response is expected within a few weeks. All drill-sites are on or near existing ranch roads and access is excellent.
The new discoveries extend the mineralized target zone to over three kilometres in length. While prospecting around the recently discovered Ag-Au “Silverfields Vein”, an unrecorded adit on a strongly mineralized vein system, now known as the “Silver Dart Tunnel” has returned several channel samples which contained precious metal values. Initial channel samples returned up to 5.69 g/t gold and 956 g/t silver by fire-assay conducted by Acme Labs in Vancouver, BC.
Another new system, the “Cow Trail Vein”, was first thought to be small but has now been exposed for a significant area. A single channel sample gave values of 3.67 g/t gold and 996 g/t silver. This vein system has now been traced for over 50 metres on the east side of the Mt. Richter ridge, and has intersected a breccia zone with several fragment types. The size and nature of this breccia zone have not been defined; it may be intrusive/volcanic or fault-related.
The “Kohler Vein” zone near the eastern edge of the property at the foot of Mt. Richter has now been gridded and sampled, and several channel samples have been sent for assay. This zone contains strong copper and lead mineralization along with silver and gold values.
All areas of the property are indicating that the Dankoe Mine mineralization may extend for several kilometres to the east. In 1967, the mine vein known as the “B” vein (MMAR 1967) was located underground near the eastern extent of the workings, and contained native silver, ruby silver and other silver minerals and assayed 20,571g/t in silver. Although mining subsequently occurred in this area, the eastern and down-dip extents were faulted off and were never defined.
Geological mapping, prospecting and diamond saw channel sampling are now proceeding and will continue until drill program permission is received. All assay results will be released upon receipt, and regular news updates will be forthcoming.
Technical material in this news release has been prepared and/or reviewed by Peter Folk, P.Eng., a Qualified Person as defined in NI43-101. Analyses quoted here were geochemical analyses performed for Silver Fields Resources In. by Acme Analytical Laboratories. It is emphasized that these analyses were performed on grab samples, which are not representative of the zone or zones as a whole.
Statements about the Company’s future expectations and all other statements in this press release other than historical facts are “forward looking statements”. The Company intends that such forward-looking statements be subject to the safe harbours created thereby. Since these statements involve risks and uncertainties and are subject to change at any time. The Company’s actual results may differ materially from the expected results.
We seek Safe Harbor.