Silver Predator outlines potential new gold systems at Taylor silver project near Ely, Nevada
Tuesday, Jan 22, 2013
HAYDEN, ID, Jan. 21, 2013 /CNW/ - Silver Predator Corp. (TSX:SPD) (the"Company") is pleased to announce results from the 2012 detailed mapping and soil sampling program near the Company's Taylor silver project, located in White Pine County, Nevada. The 1,166 sample soil program followed an extensive six months of mapping to produce soil results that include 1.7 g/t gold and 58.0 g/t silver. This integrated field program identified key geologic features including anomalous gold, silver, antimony, arsenic and mercury pathfinder suite elements consistent other gold dominant "Carlin type" sediment hosted deposits in Nevada.
New gold and gold-silver target areas were identified at South Taylor, Crescent and Enterprise, with the Enterprise target area exhibiting the largest areal extent found to date. A drill plan is currently being developed to evaluate near surface and deeper underground targets at these prospects.
A complete table of location maps can be found on the Company's website at: http://www.silverpredator.com/
Discussion of the Exploration Program
The early 2012 field season was devoted to exploration drilling and mapping in the resource and historic mine areas of the Taylor property. By mid-summer mapping progressed outside of the resource area with the goal of identifying prospective new gold-silver targets. The Taylor silver mines and resource area has all the classic geologic features associated with Nevada's sediment hosted gold systems. Besides a dominant gold signature, these "Carlin style" deposits are commonly enriched in related pathfinder elements such as antimony, arsenic,
and mercury.
To the east and north of the resource and mine area, historic surface rock and soil sampling for gold by previous operators outlined target areas in the Antimony Pit and Chipps areas that were later drill tested. This drilling, mostly in the relatively unfavorable host rocks of the Pilot Formation, succeeded in producing multiple gold intercepts that were never followed up.
These programs demonstrated that at least locally, gold systems are present on the property. In addition, the presence of a series of small historic antimony mines and prospects, mostly along what is referred to as the "Antimony Trend", provides a strong indicator for adjacent and deeper precious metal potential as in other Nevada sediment hosted systems.
Mapping Program Results
Starting in the resource area of the property, where historic underground and open pit mining for silver exposed abundant rock faces, the Company started detailed geologic mapping in April with the goal of defining the geologic controls to mineralization. This interpretation is currently being used to complete the geologic model for a new resource estimate at Taylor planned for completion in the first quarter of 2013. Of primary importance, north-south and northwest-oriented fault zones were important mineral controls, along with the margins of felsic intrusives and silty carbonate host rocks. The best silver grades were found where these features converged and jasperoidal alteration is present. This combination of geologic controls is also found in the northern Carlin trend and in other sediment hosted gold systems in Nevada. Using this information, extensive additional mapping was conducted to the southeast, where the highly favorable host rocks of the upper Guilmette Formation are buried and could have the potential for undiscovered precious metal deposits.
SOURCE Silver Predator Corp.
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