Silver Mountain Mines Receives Positive Initial Results From Its Ground Gravity Survey and Provides a Corporate Update
CALGARY, ALBERTA--(Marketwired - Oct 17, 2013) - Silver Mountain Mines Inc. (TSX VENTURE:SMM) ("Silver Mountain" or the "Company") is pleased to announce positive initial results from a ground gravity survey program on its wholly-owned Ptarmigan Property (the "Property"), located near Radium, British Columbia.
The gravity survey was completed between July 30th and August 30th, 2013, within the Company's mineral tenures located in the East Kootenay region of British Columbia. The survey included a total of 1,418 ground gravity stations, with 20 meter stations on lines spaced 100 meters, and infill lines at 50 meter spacing. The survey also included 11 regional airborne readings. (http://www.silvermountainmines.com/maps.asp)
The survey was designed to evaluate potential for a larger areal "footprint" of fault hosted mineralization and manto-style mineralization on the Property. In addition, survey included an evaluation of the density contrast between massive sulphide style mineralization and the predominantly carbonate and/or siliciclastic sediments hosting the mineralization.
Completion of the 2013 gravity survey is an integral component in the Company's continued, multi-disciplinary exploration program to evaluate the mineral potential of the Property. The results of the gravity survey, taken together with previous mapping, geochemical surface sampling, airborne and ground geophysical surveys and diamond drill results, define one or more anomalies tentatively interpreted by the Company as suggesting potential for additional mineralization at depth.
In addition, Silver Mountain Mines is pleased to announce James Macintosh has joined the Company's Board of Directors, effective immediately. Mr. Macintosh brings diversified geological and business experience to the Company. Mr. Macintosh holds a B.Sc. in Geology and brings over 26 years' experience as an executive in the mining industry and as a mining analyst. For the past 20 years he has held various executive and directorial positions with numerous public and private companies in Canada and the United States. The Company also announces that Mr. Terry Tucker, Director of the Company, has retired from the board effective October 15, 2013. Silver Mountain wishes to thank Mr. Tucker for his efforts and contributions and wishes him well in his future endeavors.
Clarification: On October 8th, 2013, the Company issued a news release interpreting an extension of a "mineralized zone of 400 square meters". The Company clarifies that the news release should have read a "mineralized zone of 400 meters strike length".
The content of this news release has been reviewed by Rick Walker, B.Sc., M.Sc., P. Geo., a Qualified Person for the purposes of NI 43-101, with the ability and authority to verify the authenticity and validity of the data herein.
About Silver Mountain Mines Inc. (TSX VENTURE:SMM)
Silver Mountain Mines Inc. is a Canadian based exploration and development company with 100% ownership of a 9,986 hectare property centered on the historical silver rich Ptarmigan Mine in south eastern, British Columbia. The property hosts two styles of mineralization: silver rich, high-grade polymetallic epithermal veins and manto style massive / semi-massive sulphide mineralization.
For further information on Silver Mountain Mines Inc. please visit the Company's website http://www.silvermountainmines.com and SEDAR (www.sedar.com).
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions and factors that could cause actual results to differ materially from those in forward looking statements Silver Mountain Mines Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. Neither the TSX-Venture Exchange nor its Regulation Services Provider, as per the term defined in the policies of the TSX Venture Exchange, accepts responsibility for the adequacy or accuracy of the release.
ON BEHALF OF THE BOARD
Steve Konopelky, President and CEO