SILVER FIELDS COMMENCES PERMITTING PROCESS ON KEREMEOS SILVER PROJECT
Silver Fields Resources Inc. has completed the necessary financing to implement exploration plans for its 100% owned mineral claims in the Keremeos area of Southern British Columbia. The property consists of 1,228 Hectares (3,034 acres) and is located between Keremeos and Osoyoos in the Similkameen Mining District.
Management has commenced the initial permitting process to carry out a program which will continue work which was started in the summer of 2008 and 2009. The work in 2009 was the subject of a report written by Mr. Peter Folk, P.Eng., the mine manager of the former Dankoe-Utica Silver Mine, which produced and milled ore from 1915 through to 1984. According to the B.C. Government Minfiles, the former mine produced 433,396 tonnes of ore from which approximately 127 million grams (4,089,409 oz) of silver, 333 thousand grams (10,706 oz) of gold, plus copper, lead and zinc were extracted. Production ceased when commodity prices declined.
In view of the resurgence in the price of silver, the Company has approved an exploration plan, as outlined by Mr. Folk, who is a Qualified Person. The program will consist of magnetic & VLF-EM surveying, an evaluation of known mineral occurrences, and mechanized trenching. The Company has allowed for up to 2000 meters of drilling.
As well, once permits are in place, the main Portal of the former Dankoe mine will also be opened and secured, after which, an underground program will be carried out to geologically map and sample the underground workings where accessible.
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.