Canadian Silver Hunter Announces a Second New Near-Surface Target at Keeley Frontier Project
TORONTO, ONTARIO -- (Marketwire) -- 01/18/13 -- Canadian Silver Hunter Inc. (the "Company") (TSX VENTURE: AGH) is pleased to release final results of recent sampling at the Keeley Frontier silver project in South Lorrain Township, Ontario. The Company completed a power-stripping and channel sampling program near Gibson Lake on the main Keeley Frontier claim block in November of 2012. As well, one pit was dug by excavator to a depth of 2 metres in a tailings area, with five grab samples taken at various depths in the tailings profile.
Highlights
- Channel line 7 returned composite silver values of 69.3 g/t Ag over
the full length of 2.9 metres, including 86.8 g/t Ag over 2.25
metres.
- These samples also include base metal values of 0.91% Pb, 0.65%
Zn, 0.28% Cu over 2.25 metres.
- One sample returned a value of 174 g/t Ag and 1.46% Pb over 0.95
metres.
- Channel line 8 returned a composite silver value of 28.0 g/t Ag over
2.05 metres, with 0.58% Pb, and 0.69% Zn. The composite included 70
g/t Ag 1.31% Pb, 1.64% Zn and 0.42% Cu over 0.6 metres.
- Channel line 2 returned a composite silver value of 70.4 g/t Ag over
1.85 metres, including 190 g/t Ag over 0.6 metres.
- Five (5) grab samples of tailings material (sand, silt and clay)
exposed at various depths in one location by an excavator at depths
ranging from surface to 1.8 metres depth returned silver values of
404 g/t Ag, 191 g/t Ag, 175 g/t Ag, 124 g/tonne and 74.8 g/t Ag.
- The tailings grab samples also assayed up to 0.053% bismuth, 0.33%
cobalt, and 0.09% nickel.
A total of 50.45 metres of channel cuts were completed and assayed for silver and trace elements. The average length weighted composite for all 77 channel samples taken is 11.33 g/t Ag, 0.12% Pb, 0.14% Zn and 0.12% Cu. Silver values ranged from 0.4 g/t to 190 g/t, with only seven samples assaying below 1.0 g/t Ag. A similar widespread dispersion of Pb, Zn and Cu values was also noted, with a high correlation to Ag values.
The stripped area consists of one rock type; pillowed mafic volcanics, cut by numerous brittle steeply dipping fractures and faults trending mainly between 310 and 330 degrees. Disseminated pyrite, chalcopyrite, galena, sphalerite, arsenides, native silver and bismuth were visible within and adjacent to many of the fractures. Calcite, and reddish dolomitized volcanics were locally present.
The Gibson Lake structural trend was located by surface prospecting of IP anomalies during the summer of 2012. Historic trenching was exposed using an excavator and high pressure water for approximately 40 metres along strike. Additional caved trenches can be observed along the trend. The width of the mineralized trend is exposed for 10 to 15 metres.
There are no records of previous exploration results in the Gibson Lake area. Silver and cobalt production are known to have occurred 300 metres to the east from the Woods and Watson veins. It is important to note that the current surface stripping is well outside (above by approximately 100 metres) the historic "productive zone" with which the Keeley Frontier high grade silver zones are associated. The "productive zone" follows the shallow dipping Nipissing sill/volcanic rock contact, generally 100 metres above and 50 metres below the sill contact, where most of the high grade silver and cobalt has been found. The top of the "productive zone" could be reached with a 150 metre long drill hole beneath the Gibson stripping.
It is also of interest to note that historic exploration and production in the South Lorrain silver camp focused on underground drifting along narrow high grade structures and there was generally no exploration for wider, lower grade mineralized zones using geophysics, surface drilling or power-stripping. Strong chargeability anomalies from earlier IP surveying completed by the Company suggest the presence of disseminated sulphide/arsenide targets along a northwest trending anomaly 100 metres wide by at least 400 metres long stretching northwest from the Gibson Lake area stripping.
Follow-up work on the Gibson targets will include additional geophysics and power-stripping, with shallow drilling based on additional channel sampling results. Additional power-stripping is also required proximal to hole CSH12-03 (168.22 g/t Ag over 4.2 metres within a zone grading 72.47 g/t Ag over 11.3 metres, see June 19, 2012 press release). Weather conditions this fall did not allow for sufficient power-washing of the site and no channel sampling could be completed. This area is 750 metres south of the Gibson Lake stripping and remains a high priority for surface sampling and diamond drilling.
Sampling along the edge of Little Beaver Lake was done in one location to examine the depth of tailings and distribution of silver and other metals in the tailings profile. Five (5) samples were assayed at Agat Labs and returned silver values between 74.8 g/tonne (2.18 ounces per ton) and 404 g/tonne (11.78 ounces per ton). These silver levels are encouraging and systematic sampling of tailings is being considered as part of the next exploration program.
Project Logistics and QA/QC
All analyses reported in this release are from assay certificates which passed both Canadian Silver Hunter, and AGAT Laboratories QA/QC procedures.
Channel samples were cut with a gas powered saw using a diamond blade, similar to a core cutting saw. Samples were sent for aqua regia digestion and multi-element (including Ag, Co, Ni, Bi, Sb) analysis (ICP-OES finish) at AGAT Laboratories Ltd. in Mississauga, Ontario. The excavating, power-washing and channel cutting program was carried out under contract by Laframboise Drilling Inc. of Earlton, Ontario, managed and supervised by David R. Jamieson, P.Geo and Dean R. Cutting, P.Geo.
AGAT is a fully accredited laboratory and conforms to the requirements of CAN-P-4E (ISO/IEC 17025:2005) and CAN-P-1579 by the Standards Council of Canada. AGAT Laboratories provided pickup of the channel and tailings samples from the Company's core shack in North Cobalt, to the preparation lab in Sudbury, Ontario. Analysis is performed at AGAT facilities in Mississauga, Ontario. QA/QC programs include the use of standard and blank samples inserted into the assay stream, including the tailings samples, by the Company's personnel every 25 samples in addition to the lab's internal QA/QC programs. Samples assaying greater than 100 g/t Ag are fire assayed with a gravimetric finish. QA/QC results indicate that the AGAT aqua regia digestion and multi element analytical procedures used on this program are reliable. Screen metallic assaying may be required to more accurately quantify silver values in higher grade portions of the mineralized zones due to the presence of coarse silver.
Mr. Gerald Harron, P. Eng., is the "Qualified Person" under NI 43-101 and has reviewed and approved the technical information contained in this news release.
About Canadian Silver Hunter Inc.
Canadian Silver Hunter Inc. is a Canadian-based junior precious metals exploration company. The Company's flagship project is Keeley Frontier Project, located near Cobalt, Ontario. The Company's current focus is on exploration of the Keeley Frontier Project for silver, cobalt and nickel deposits.
CAUTIONARY STATEMENT:
This release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration or project development related to the Company's mineral properties, outcomes of proposed or contemplated acquisitions or other transactions, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
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.
Contacts:
Canadian Silver Hunter Inc.
Jeffrey Hunter
President and CEO
(416) 707-4230
jhunter@cshi.ca
www.canadiansilverhunter.ca