Silver Stream Acquires 5,000 Metres of Solomon Pillars Gold Property Diamond Drill Core
30 Enero 2014 - 2:36PM
Marketwired
Silver Stream Acquires 5,000 Metres of Solomon Pillars Gold
Property Diamond Drill Core
LAS VEGAS, NEVADA--(Marketwired - Jan 30, 2014) - Silver Stream
Mining Corp. (the "Company" or "Silver Stream") (OTCQB:AGSM) and
Sage Gold Inc. ("Sage Gold") (TSX-VENTURE:SGX), a Canadian public
company listed on the TSX Venture Exchange, announced today that
approximately 5,000 metres of Solomon Pillars Gold Property
("Property") historic drill core stored in Copper Cliff, Ontario
has been acquired.
The BQ and NQ sized drill core is from 30 diamond drill holes
completed by Canadian Nickel Company Limited ("Canico") during the
mid-1980's operating on behalf of a Canico - Pronto Explorations
Limited (Pronto) Joint Venture. The holes tested the Main (Shaft
area) and West mineralized zones identified by Canico and will
contribute significantly to exploration work being planned by
Silver Stream for 2014 and 2015. The all-up cost to re-drill these
holes at today's prices for NQ sized core is estimated at $700,000
to $750,000, representing a substantial saving for Silver Stream.
Plans going forward are to review and resample the core as required
during the winter of 2014.
The Solomon Pillars Gold Property owned by Sage Gold is
comprised of 418.1 hectares with 22 leased and 4 staked claims
located approximately 180 kilometers northeast of Thunder Bay, near
Beardmore, Ontario. Silver Stream entered an option agreement with
Sage Gold in October 2013, whereby Silver Stream can earn up to an
80% undivided interest in the Property (News release, October 31,
2013).
The Property has been the focus of significant exploration and
development work over the years. A 3-compartment shaft that was
installed in 1935 to a depth of 91.4 meters with two levels
developed at 45 meters and 84 meters depth. A mine dump was
established next to the shaft but no production was reported. Three
mineralized zones were reported from drilling by Canico between
1969 and 1988 which resulted in a Company calculated resource in
1986 (non NI 43-101 compliant) from the Main and West zones.
The Property is located within the Southern Metasedimentary
Sub-belt of the Beardmore-Geraldton Greenstone Belt which has
hosted 11 past producing gold mines over the years and 95% of the
approximately 4.1 million ounces of gold produced from this
greenstone belt. The past-producing Leitch Mine near Beardmore was
one of the richest gold producers in Canada having produced 861,982
ounces of gold at an average grade of 0.92 ounces per ton. This
belt currently hosts the Premier Gold Hardrock Deposit near
Geraldton with resource estimates at more than 7 million ounces of
gold in all categories (December 13, 2013, Premier Gold NI 43-101
Report-filed on SEDAR).
About Silver Stream: Silver Stream is a natural
resource company engaged in the acquisition of, exploration for,
and development of, metallic mineral resources in the Americas. The
Company is currently focused on delivering shareholder value
through the exploration of the Solomon Pillars Property in
Beardmore, Ontario, Canada and the Metates Project in Sinaloa,
Mexico. The Company's Technical Advisory Team, with expertise in
geology, engineering and operations provides a foundation to assess
other mining projects for potential acquisition or joint venture
opportunities throughout the Americas and to pursue the development
of the Company's existing projects in a focused and economical
manner.
About Sage Gold Inc.: Sage is a mineral exploration and
development company that has primary interests in near-term
production and exploration properties in Ontario. Its main
properties are the Clavos Gold deposit in Timmins and the Lynx
deposit and other exploration properties in the Beardmore-Geraldton
Gold Camp. Technical reports and information relating to the
properties can be obtained from the System for Electronic Document
Analysis and Retrieval (SEDAR) website at www.sedar.com and
www.sagegoldinc.com.
The technical portion of this press release was reviewed and
approved by James Garber, P. Geo, a Qualified Person in accordance
with the Canadian regulatory requirements as set out within
National Instrument 43-101. Mr. Garber is V.P. Exploration for
Silver Stream and has worked on the Solomon Pillars property.
The management of Silver Stream and Sage Gold approved this news
release and take full responsibility for its contents. Neither the
TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
Notice to US Investors:
Current Beardmore-Geraldton Greenstone Belt resource estimates
discussed in this news release are reported under Canadian mining
and TSX Venture Exchange guidelines, which report mineral reserve
and resource estimates differently than in the U.S., and may not
meet the standards of "proven" and "probable" reserves set forth in
SEC Industry Guide 7. Investors should not infer from these results
or any historical resource estimates that are publicly available,
that there exists sufficient amounts of precious metals in these
areas to support profitable mining operations now, or in the
immediate future.
FORWARD LOOKING STATEMENTS:
Information contained herein regarding optimism related to the
Company's business, expanding exploration, development activities
and other such statements are "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995
and are subject to the safe harbors created thereby. While Silver
Stream believes such statements are reasonable, they are based on
current expectations, estimates and projections about the Company's
business and are not guarantees of future performance and involve
certain risks and uncertainties that are difficult to predict.
Actual results could vary materially from the description contained
herein due to many factors including market prices for the
Company's mineral products, international and domestic economic
conditions, and other risk factors listed in the Company's
Securities and Exchange Commission (SEC) filings under "risk
factors" and elsewhere. The Company does not undertake any
obligation to update any forward-looking statement to reflect
events or circumstances after the date of this press release,
except as required by applicable law.
Silver Stream Mining Corp.Terrence H. BybergPresident and
C.E.O.(702) 818-1775info@silverstreammining.comSAGE Gold Inc.Nigel
Lees, President and C.E.O.Mike O'Brien, Communications
Manager/Investor
Relations416-204-3170416-260-2243www.sagegoldinc.com
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