Silver Bear Resources Inc. announces airborne geophysics supports origins of surface gold veins near silver deposit
Wednesday, Jan 16, 2013Silver Bear Resources Inc. ("Silver Bear" or the "Company") (TSX:SBR) announces results of its 2012 airborne geophysics program on its Mangazeisky property lease (see Figure 1). A significant magnetic high anomaly was observed only 500 meters from the company's Vertikalny Silver deposit (see Figure 2). This is in the same area where historical mineralization of gold, silver and copper has been identified (see Table 2).
In 2012, the Company conducted airborne geophysical surveys covering an area of 310 square kilometres on the property. Electromagnetic (EM) and Magnetic geophysical surveys were flown by helicopter along east-west lines, at a nominal line spacing of 100 metres (m), and at an average altitude of 15 m. Some results of the Magnetic survey are shown in Figure 2, including a significant magnetic high anomaly approximately 500 m east of the Vertikalny Silver deposit. Past geological work has identified porphyritic rock alterations in this area, specifically in rhyolite and plagiogranite samples taken from trenching excavations. The high magnetic response shown in Figure 2 supports these earlier interpretations of the geologic features of the area. Silver Bear has now termed this area of the property, the Porphyrovy prospect.
Several trenches (Figure 4) on the Porphyrovy prospect have revealed four quartz-carbonate-sulfide veins containing primarily gold and silver mineralization. Copper is also present in the veins with minor amounts of lead and zinc identified. Some of this exploration work was done prior to Silver Bear's acquisition of the property in 2004. Table 1 highlights some of the assay results from the trench work. The trenching and assays were performed between 1990 and 2006 mostly by Yangeologia - a regional government geological institution. Sampling was performed according to Russian sampling procedures. (As noted below in Table 1, these findings are considered to be historical information, see cautionary note herein).
"This is a significant step in our understanding and development of the property," said Mark Trevisiol, President and CEO of Silver Bear. "The abundance of surface gold- bearing veins containing silver and copper, the trench samples and this new geophysical data all reinforce our geological model that silver and gold mineralization were part of an epithermal geological system." He added: "We believe these latest results have the potential to greatly enhance the value of our property and will help us in defining our plans for 2013, exploring this gold mineralization right next door to our Silver deposit."