BURLINGTON, ON, March 29 /CNW/ - Silver Shield Resources (TSXV: SSR) announces that it has been successful in procuring a drill for its Welsh Silver Mine in Elk Lake, Ontario. The drill is presently occupied on a drill project but is expected to become free in the next short while. At that time it will be moved to the Welsh Silver Mine and commence a minimum 1,200 metre drill project for Silver Shield Resources (TSXV: SSR). Due to the close proximity of the drilling and shallow nature of the Welsh Mine mineralization the company expects holes to be drilled in 100-200 metre lengths. Phase II drilling completed by the company previously encountered massive mineralized vein swarming to the south east of the mine. A subsequent small stripping program that was done in the area located these swarms on surface and the company is anxious to drill this area as soon as a drill is available.
With new staking completed in the area by Silver Shield, the Company feels it has secured its position in this area. Upon geological review, certain targets hope to be identified on these new claims and a small number of exploratory drill holes completed. Of particular interest to the company is the area near the Historic Cotley Mine.
To aid in the Company's already large data base of the mine, a survey of the area around the mine and to the east of the mine is being commissioned. The survey report will hopefully identify old markings and elevations, relevant points including the Welsh shaft, shaft southeast of Welsh main shaft and the adit to the Welsh Silver Mine and all drill holes. With this survey it is felt the Company can more accurately locate the workings and mineralized areas of the mine on previous technical reports and aid in the new drilling.
Tim D. Towers commented, "In these times of rapidly escalating prices of Silver, and experts predicating higher prices to come, we feel we have a real gem in this former producing Silver Mine. The close proximity of infrastructure and ease of access taken in conjunction with past results excites me. The demand for drills has hindered us in acquiring one, but since this has now been accomplished we can't wait for the rig to be available! Our shareholders have been patient and supportive and we look forward to rewarding their patience. I urge all investors to review our original 43-101 technical report on the Welsh Silver Mine by clicking the link at the end of this release. After this drill campaign we will be updating our original 43-101."
About the Former Producing Welsh Silver Mine
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, Ag-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. Recent 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.
To view the Welsh Silver Property 43-101 Technical Report, please follow: http://www.silvershieldresources.com/investor-relations/pdf/Welsh_Property_NI43-101.pdf
To receive a copy of our Welsh Area Mine Map please email the company.
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.
