Road Access Work Completed to Initiate Exploration and Development of Venturina Project, Chihuahua, Mexico
HILTON HEAD, S.C., Nov. 15, 2011 /PRNewswire/ — Silver Scott Mines, Inc. (OTC: SILS.pk) is pleased to announce that access road rehabilitation work has been completed for the Venturina Gold-Silver project in Western Sierra Madre mountains of western Chihuahua state, Mexico. This work has been completed to rehabilitate the nearly 10 km. existing dirt road into the Venturina mine site permitting the start of an exploration and development program to outline producible resources.
The Venturina mine site was previously explored in 1998 by International Northair and Meridian Gold who completed mapping, sampling, and drilling of 13 RC percussion drill holes. Bottle roll gold-silver recovery testing was also completed at that time, however the entire program was terminated in 2000. At least two vein zones of epithermal low sulfidation gold-silver mineralization are located in the 130 hectare concessions controlled by Silver Scott Mines, Inc. The ratio of silver to gold in the mineralized banded epithermal quartz veins and stockwork mineralization is established at about 20 to 1. The best intercepts of that historic drill program are from drill hole 98-6 with 53.3 meters with 1.30 grams Au per ton and 29.6 grams silver per ton and from drill hole 98-12 with 25.9 m of 3.40 gram Au per ton and 16.2 grams silver per ton (not true widths).
Drilling is planned in coordination with additional metallurgical testing to more completely outline the extent of the more than 1 km long vein zone. Numerous old underground workings exist from two older episodes of mining, one prior to 1900 and the last after 1960. This work combined with drilling in 1997 defined the Nuevo Venturina vein zone. A second parallel zone, El Salvador, has had only minor underground prospecting and development work. Our recent geological work shows the northwest oriented Venturina and other veins are terminated by a low angle east-west normal fault.
Mineralization is of a classical epithermal low sulfidation quartz vein type, containing gold and silver in the veins. This form of mineralization is typical of the western Sierra Madre mountain region of Mexico. Three other nearby operating mines are: the Ocampo gold-silver mine of Aurico Gold (reserve of 1.248 million ounces of gold with 53 million oz Ag), the Morris gold mine operated by Hochsheild, and the Pinos Altos gold-silver mine ( 7.2 million oz. Au) operated by Agnico-Eagle Gold Mining. All of these mines contain low sulfidation type epithermal mineralization similar to the Venturina. Located further north is the Mulatos gold deposits (Alamos Gold with plus 3 million oz. Au), to the west is the Santana de Yecora gold deposits (Corex Gold, circa 200,000 oz Au), and to the south is the Orosivo gold deposit (Fresnillo PLC with plus 10 million oz. Au). This Sierra Madre cluster of gold-silver deposits is becoming an important area of precious metal production.
John Ryan, CEO of Silver Scott commented, “We are very pleased at the progress being made at the Venturina mine site to establish good access for our future exploration programs. Our Venturina project, located in the western Chihuahua deposit cluster, is another of our targeted sites where our aim is to establish initial production quickly with low costs within existing defined mineralization, and continue to advance the project’s size as we learn more about the mineralization’s extent.”
For further information please contact:
Silver Scott Mines, Inc.
301 Central Ave. #384
Hilton Head, SC 29926
The source of this news release is Silver Scott Mines, Inc. This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate.
SOURCE Silver Scott Mines, Inc.