TUCSON, AZ--(Marketwire - Mar 18, 2013) - International Silver, Inc. (
From August 16 through October 28, 2012, a total of 11,680 feet were drilled at 16 hole locations using reverse circulation air rotary methods. The drill program was designed to provide proof of concept information on the exploration model for the area and define mineralized zones worthy of resource definition drilling. Highlights from the results are as follows:
|Drill Hole||Footage From||Footage To||Interval||OPT Gold||OPT Silver||% Lead||% Zinc||% Manganese|
The results of the 2012 Phase I drill program indicated that three areas merit additional exploration based on the following:
1) Sediment hosted gold mineralization without significant lead-zinc grade is present on the property. Drill hole PRC 10 intercepted 190 feet of mineralization at 630 feet of depth grading 0.04 opt gold and 1.5 opt silver. Fifty feet of the intercept was oxidized while the remainder was in sulfides. Two other drill holes, PRC 19 and PRC 25 intercepted from 10 to 40 feet of gold mineralization grading 0.07 to 0.08 opt with 0.9 opt silver.
2) Limestone replacement type silver, lead, zinc, manganese mineralization was found at depths between 540 and 660 feet below surface as in drill holes PRC 23 and PRC24. The mineralization ranges from 15 feet to 80 feet in thickness and extends more or less continuously on strike for a distance of 3000 feet. This mineralized structural zone between two major faults is inferred to host 4,800,000 tons of mineralized material grading 0.019 opt gold, 1.96 opt silver, 1.0% lead, 2.1% zinc and 6.7% manganese. The mineralization is expected to be amenable to underground mining methods.
3) Drill holes PRC 11 and PRC 21 intercepted near surface, replacement type mineralization that appears to be open pit mineable. Using the 2012 drilling data combined with that from other nearby underground sampling points, an inferred tonnage of mineralized material was calculated in this area totaling 5,200,000 tons averaging 0.008 opt gold, 2.57 opt silver, 2.7 % lead, 2.2% zinc and 9.6% manganese as oxides.
Mr. Shipes, International Silver's President and CEO, commented: "We are very pleased with the results of our Phase I Drill Program; we were successful in identifying three major target areas with a very modest exploration budget. We are very excited to commence with our Phase II Definition Drilling Program later this year."
About International Silver, Inc.
International Silver, Inc. (the "Company"), headquartered in Tucson, Arizona, is an exploration and mine development company with properties in Nevada, Montana and California. An emerging silver company, International Silver's common shares are traded on the OTCQB under the symbol ISLV.
Statements made which are not historical facts, such as anticipated payments or purchases are "forward-looking statements" and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to, metals price volatility, volatility of metals production and costs, exploration risks and results, political risks, project development risks, labor issues and ability to raise financing. The information contained in this press release should not be construed as any indication whatsoever of the Company's future revenues or financial condition or the future price of its common stock. Refer to the Company's Form 8-K, Form 10-Q and 10-K reports for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation and has no intention of updating forward-looking statements.
International Silver's Home Page can be accessed on the Internet at www.internationalsilverinc.com