Huldra Silver drills 1.12 m of 825.5 g/t Ag at Treasure

Huldra Silver Inc. has provided an update of the current underground drilling program and mining progress at the Treasure Mountain mine in British Columbia, Canada.

Preliminary (i) assay results have been received for the first five holes of the underground drill program. Highlights include:

 

  • 825.5 grams per tonne silver, 6.74 per cent lead and 9.43 per cent zinc over 1.12 metres true width in hole TMUD13-1;
  • 202 grams per tonne silver, 0.41 per cent lead and 13.07 per cent zinc over 1.02 metres true width in hole TMUD13-2;
  • 593.2 grams per tonne silver, 5.21 per cent lead and 1.23 per cent zinc over one metre true width in hole TMUD13-4;
  • 356 grams per tonne silver, 4.64 per cent lead and 21 per cent zinc over 0.61 metre true width in hole TMUD13-5.

 

A table summarizing the significant results of the first five holes is attached.

 

                                          
Hole ID    Sample No.     From        To    Length      Ag      Pb      Zn 
                            (m)       (m)       (m)   (g/t)     (%)     (%)

TMUD13-1     1980295     59.37     59.55      0.18    3070   23.96    7.99
TMUD13-1     1980297     59.55     60.16      0.61   10.25    0.10    0.84
TMUD13-1     1980299     60.16      60.5      0.34    1100    9.53   25.60
TMUD13-1                 True width           1.12   825.5    6.74    9.43
TMUD13-2     1980362     49.39     49.98      0.59     343    0.63   22.10
TMUD13-2     1980364     49.98     50.41      0.43    8.58    0.10    0.67
TMUD13-2                 True width           1.02     202    0.41   13.07
TMUD13-3     1980402     37.45     37.58      0.13     138   1.255    2.67
TMUD13-3                 True width           0.12     138   1.255    2.67
TMUD13-4     P912016     66.21     66.57      0.36     291    3.58    3.15
TMUD13-4     P912018     66.57     66.92      0.35    5.82    0.10    0.51
TMUD13-4     P912019     66.92     67.08      0.16    3780   25.57    0.74
TMUD13-4     P912020     67.08     67.38       0.3     145    1.85    0.46
TMUD13-4     P912022     67.38      67.8      0.42     448    5.50    0.92
TMUD13-4                 True width              1   593.2    5.21    1.23
TMUD13-5     P912056      40.6     41.22      0.62     356    4.64      21
TMUD13-5                 True width           0.61     356    4.64      21

 

Samples were analyzed by ALS Chemex at its Vancouver laboratory. ALS Chemex Vancouver is an ISO 9001:2000-certified lab. Samples were prepared by crushing to 70 per cent less than two millimetres, riffle splitting off up to 250 grams and then pulverizing the split to better than 85 per cent passing 75 microns. A 0.25-gram sample was then digested using a four-acid digest, and the solution was analyzed by multielement ICP-AES. Silver, lead and zinc overlimits were analyzed using the ME-OG62 method. Silver overlimits greater than 1,500 grams per tonne silver were analyzed by 30-gram fire assay with gravimetric finish.

(i) The results are preliminary in nature as all reference materials and blanks submitted with the drill core have passed quality assurance/quality control verification. However, some duplicate tests did not fall within tolerance. Affected certificates have been returned to ALS Chemex for investigation, and the results published here provide only an indication of the probable grade for the intercepts.

Since the underground drill program began in late March, 2013, a total of 1,923 metres of HQ-sized diamond drill core from 21 drill holes have been completed. The total length of the drill program is expected to be 4,700 metres spread over 54 holes. The preliminary results from the first five holes are located approximately 60 to 80 metres west of stope 1 and 120 to 140 metres west of the area currently being mined between level 1 and the surface. Drill holes TMUD13-1 and TMUD13-2 have identified mineralization between level 1 and level 2, whereas hole TMUD13-4 has identified mineralization 20 metres below level 2 at the western edge of the target area. Drill hole TMUD13-8, which tests for mineralization 40 metres below level 2, was extended and intercepted vein material that lies into the hangingwall of the level 3 main haulage drift. The 0.44-metre intercept (not converted to true width) is a mix of siderite and massive galena. Assays are pending. A diagram of the underground drill program is available on the company’s website.

Mining continues, with stope 2 currently in production. To date, the company has mined the stope over 65 metres in length, with a vertical height of 12 metres and a width of 1.7 metres. Stope 2 is the third stope to be mined from the uppermost level of the mine. Preliminary (i) composite assay results have been received for the first four lifts of the stope and are presented in the attached table.

 

Sample ID          Width        Ag        Pb        Zn 
                      (m)     (g/t)       (%)       (%)

S2L1-1              1.72    1095.7       7.7       9.1
S2L1-2              1.63     661.2       5.5       3.5
S2L1-3              1.82    1140.3      19.1       3.3
S2L1-4              1.32     233.5       2.0       6.4
S2L1-5              1.12     171.2       2.1       0.7
S2L1-6              1.48      97.4       1.1       0.1
S2L1-7              0.92       1.2       0.0       0.0
S2L1-8              0.87     537.4       4.2       1.0
S2L1-9              1.44     850.5       6.9       3.6
S2L2-4              1.57     155.2       0.9       1.0
S2L2-5              2.17     597.9       6.6       7.7
S2L2-6              1.32    1080.6       5.7       9.8
S2L2-7              2.03      20.8       0.1       0.3
S2L2-8              1.94     143.9       1.7       1.1
S2L2-9              1.02     106.1       0.2       0.9
S2L2-10              1.1    2216.2      19.4       6.2
S2L2-11             1.05      10.6       0.1       0.4
S2L2-12             1.13     363.6       2.4       1.5
S2L2-13              1.2      54.9       0.3       0.6
S2L2-14              1.5     133.9       0.8       0.3
S2L2-15             1.21     556.8       0.8       0.3
S2L2-16             0.77      23.6       0.3       0.1
S2L2-17             1.35      85.8       2.6       0.1
S2L3-1              1.83     115.7       0.2       1.3
S2L3-2              1.96     174.5       0.7       0.5
S2L3-3              1.97     302.4       1.0       1.2
S2L3-4              1.56    1473.0      16.8       7.5
S2L3-5              1.67     850.3      11.3       5.0
S2L3-6              1.79     766.6       9.4       2.9
S2L3-7              1.38    2170.3      20.6       3.1
S2L3-8              1.12     276.9       0.6       4.1
S2L3-9              1.01     148.4       0.8       2.1
S2L3-10             1.17     185.5       1.5       0.7
S2L3-11             1.23     235.6       2.1       0.2
S2L3-12             1.36     115.0       1.5       0.2
S2L3-13             1.24       6.2       0.1       0.1
S2L3-14             1.17       1.0       0.0       0.0
S2L3-15             1.51       3.1       0.0       0.0
S2L3-16             1.22      89.4       0.1       0.1
S2L3-17             1.56      35.8       0.4       0.1
S2L3-18             0.71    1179.4       9.4       2.7
S2L4-1              1.31      14.6       0.0       0.0
S2L4-2              1.83      56.2       0.5       0.4
S2L4-3               1.6      10.9       0.5       0.1
S2L4-4               1.6      44.4       0.1       0.0
S2L4-5              1.26       3.8       0.0       0.0
S2L4-6              1.21      10.4       0.1       0.2
S2L4-7              1.25      26.6       0.6       0.2
S2L4-8              1.79       6.4       0.1       0.2
S2L4-9               1.4     141.0       0.7       1.2
S2L4-10             1.22     175.5       1.3       1.2
S2L4-11             1.32     834.4       4.2       2.5
S2L4-12             1.22     603.9       4.4       3.9
S2L4-13              1.4      14.2       0.1       0.1
S2L4-14             1.55      22.7       0.1       1.1
S2L4-15             1.58      37.3       0.2       2.2
S2L4-16                2     158.2       2.1       0.8
S2L4-17              2.6     813.4       5.8       2.5
S2L4-18             1.53    3163.3       3.4       3.6
S2L4-19             1.75      29.9       0.1       0.3
S2L4-20             1.38      16.9       0.2       0.3
S2L4-21              1.3     660.5       2.7       6.0

 

Samples were analyzed by ALS Chemex at its Vancouver laboratory. ALS Chemex Vancouver is an ISO 9001:2000 certified lab. Samples were prepared by crushing to 70 per cent less than two millimetres, riffle splitting off up to 250 grams and then pulverizing the split to better than 85 per cent passing 75 microns. A 0.25-gram sample was then digested using a four-acid digest and the solution was analyzed by multielement ICP-AES. Silver, lead and zinc overlimits were analyzed using the ME-OG62 method. Silver overlimits greater than 1,500 grams per tonne silver were further analyzed by 30-gram fire assay with gravimetric finish. The sample notation is to be read as: S2-L(i)-A, where: S2 refers to stope 2, L(i) refers to the lift being sampled and A refers to the particular chip line within the lift. Sampling occurred on three-metre spacings where possible; however, not all areas of the lifts could be sampled at three-metre intervals.

(i) The results are preliminary in nature as all reference materials and blanks submitted with the chip samples have passed quality assurance/quality control verification. However, some duplicate tests did not fall within tolerance. Affected certificates have been returned to ALS Chemex for investigation, and the results published here provide only an indication of the probable grade for the samples.

The rehabilitation of the historical raises on level 4 is complete with assays of up to 1,680 grams per tonne silver over 0.28 metre true width identified in raise 14. The mineralization is associated with a dike and is potentially a separate structure from the C vein. Mineralization is of the same style exhibited elsewhere within the Treasure Mountain mine — being a narrow vein, steeply dipping structure with the main sulphide minerals being argentiferous galena and sphalerite. The mineralization identified during the sampling lies on the hangingwall side of the dike contact.

The results presented in the attached table are preliminary in nature as all reference materials and blanks submitted with the chip samples have passed quality assurance/quality control verification. However, some duplicate tests did not fall within tolerance. Affected certificates have been returned to ALS Chemex for investigation and the results published here provide only an indication of the probable grade for the samples.

 

Sample No.      Length        Ag        Pb        Zn        Cu 
                    (m)     (g/t)       (%)       (%)       (%)

1979808           0.27       308      3.00      6.51      0.08
1979809           1.13      57.3      0.59      1.06      0.02
1979834           0.15       579      5.97      9.23      0.14
1979810           0.41      40.6      0.51      1.55      0.01
1979811           0.73      78.9      0.67      1.89      0.03
1979812           0.22      23.5      0.19      0.39      0.01
1979814           0.55      1280     19.85     19.25      0.39
1979815           0.85      20.1      0.18      0.51      0.01
1979816            0.3       345      2.50     11.45      0.34
1979818            0.9      8.66      0.07      0.22      0.00
1979820           0.42       379      3.76     19.60      0.14
1979821            0.8     10.65      0.16      0.37      0.00
1979822           0.32       123      0.96      3.13      0.06
1979823           1.06      12.3      0.14      0.42      0.01
1979824            0.2       118      0.76      2.65      0.04
1979826           1.24      7.95      0.07      0.16      0.01
1979827           0.16       598      3.85     16.65      0.18
1979829            1.4      8.13      0.09      0.21      0.00
1979830            0.2       249      2.47      8.41      0.51
1979831            1.3      6.48      0.10      0.47      0.00
1979832           0.25       948      2.85     11.50      0.11
1979833            1.5      7.02      0.08      0.21      0.00
1979836           0.28      1680      4.43      7.04      0.30
1979837           1.26      35.5      0.62      3.49      0.03
1979838           0.41       159      1.15      6.13      0.07
1979839           0.97      1.56      0.02      0.04      0.00
1979840           0.33      4.09      0.05      0.04      0.00
1979841            0.8      0.62      0.00      0.01      0.00

 

Samples were analyzed by ALS Chemex at its Vancouver laboratory. ALS Chemex Vancouver is an ISO 9001:2000-certified lab. Samples were prepared by crushing to 70 per cent less than two millimetres, riffle splitting off up to 250 grams and then pulverizing the split to better than 85 per cent passing 75 microns. A 0.25-gram sample was then digested using a four-acid digest, and the solution was analyzed by multielement ICP-AES. Silver, lead and zinc overlimits were analyzed using the ME-OG62 method. Silver overlimits greater than 1,500 grams per tonne silver were further analyzed by 30-gram fire assay with gravimetric finish.

Information in this news release related to the underground diamond drill program has been approved by Mark Williams, PGeo. Information in this news release related to mining activities has been approved by Al Beaton, PEng, mine manager. For more information about the company’s Treasure Mountain property, see the technical report entitled, “Technical Report, Project Update, Treasure Mountain Property,” dated June 7, 2012, available under Huldra’s profile on SEDAR.