SILVER SHIELD EXPANDS PROPERTY HOLDINGS AROUND WELSH SILVER MINE
BURLINGTON, ON, March 15 /CNW/ - Silver Shield Resources (TSXV: SSR) announces that it has acquired, by staking, 100% interest in 3 claim blocks totaling 19 units surrounding to the southwest, southeast and east of its primary Ontario Silver Property, the Welsh Silver Mine. This brings the property size to a total of 32 units and 1 Leased claim. The Company felt it was important to acquire the additional property prior to commencing the planned drilling program. The company plans to commence its 2011 program immediately upon procurement of a drill rig for the property.
Tim Towers, President and CEO commented "the company was founded on the Welsh Silver Mine and our belief in its potential to be brought back into production when the economics of the metals market dictated. Unlike many small mines in Ontario the former producer is located in a very prolific area with shallow deposits being easily accessible. With silver prices on the rise it is felt that mines like the Welsh can be brought on stream again and become very economic. The founders of Silver Shield have not wavered from their production goal and hope that the Welsh can be the first of their properties to be brought to small to mid scale production in the near to short term."
The new staking was designed to cover extensions of silver bearing vein structures known and inferred. The Welsh Mine Property is a typical Cobalt-style deposit having numerous carbonate veins emplaced within Nipissing Diabase rock. Mineralogy usually consists of Ag-Cu-Co-Ni minerals hosted within the calcite vein. Native silver has also been observed outside the veins in fractures within the diabase.
In 1908, The Welsh Silver Mine shaft was sunk on the #1 vein, to 160 feet and levels established at 75' and 150'. On the 75 foot level five veins were developed, Silver-rich lenses were outlined on these veins, but were never mined. In 1963 Welsh Silver Mines removed a bulk sample from the #4 vein that had an average grade of 22 oz Ag/ton.
Approximately 700 metres southeast of the Welsh Shaft another set of veins occur but in a north-south direction. In 1980 and 1982, 25,568 feet of surface drilling was performed on the Cameron Mine property immediately north of the SSR property. An underground ramp was developed in a southerly direction to the SSR claim boundary by Teck-Lacana in 1983 to prepare the property for production, along with a total of 3,885.5 feet of underground drilling. These veins were shown to extend onto the SSR ground and have been the subject of drilling by both Teck-Lacana and SSR. Previous Diamond drilling by Silver Shield has intersected numerous high-grade silver vein swarms (SCL-08-02 0.15m @ 2,659.5g/t Ag; SCL-08-09 0.20m @ 2,589.2 g/t Ag) over a 200+m strike length tracing the veins south below the thin Cobalt sedimentary cover. The southern extension of these veins is now covered by the expanded property. Silver Shield looks forward to the start of the 2011 drilling to explore these southern extensions.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined on the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Company Management, which takes full responsibility for content, prepared this news release. In order to proceed fully with the Company's exploration and acquisition plans, additional funding may be necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate the Company's plans.
