Vancouver, British Columbia – May 7, 2012 – Huldra Silver Inc. (TSX-V:HDA) (the “Company” or “Huldra”) is pleased to announce sample results from the underground exploration and resource definition program on its 100% owned Treasure Mountain Property. All of the samples presented are from the Level 2 drift and raises extending 55m to Level 1. The mine is developed on 4 levels over a vertical height of 295m following the vein down dip.
The results from the underground sampling program will be used in conjunction with previously released surface drill results in planning mine development and preparing an updated NI-43-101 compliant resource estimate. The Company expects to commence an underground drilling program in the near future for further exploration and definition of vein structures below level 2.
The following tables are the underground chip sampling results from the Level 2 Drift and Raises on the Treasure Mountain Mine. The samples were taken at 5m intervals throughout the drift and raises. Each set of three samples (i.e. P2C1-1, P2C1-2, P2C1-3) represent one sample location at each 5m interval. Each sample location includes footwall rock, vein and hangingwall rock.
- Vein sample assays were up to 4242 g/tonne Ag (123.7 OZ/ton Ag), 2.15%Pb, 10.47% Zn, and 6.09% Mn over .6m in sample P2C49-2 on Level 2.
- Vein sample assays were up to 8739 g/tonne Ag (254.8 OZ/ton Ag), 44.32%Pb, 19.67%Zn, 1.34% Mn over .34m in sample P2SR-1-2 and 8496 g/tonne Ag (247.7 OZ/ton Ag), 42.78% Pb, 11.58%Zn, 1.96%Mn over .26m in sample P2SR-5-2 in the sub-drift.
The sub-drift is approximately 22m below the level 1 drift where current mining operations are underway. The sub-drift was driven in 1988 during the mine development to explore for parallel structures between Levels 1 and 2. The samples are approximately 5m into the footwall of the Raise.
All samples are delivered by truck to Acme Analytical Laboratories’ facility in Vancouver, BC, where the sample is crushed, split and pulverized to -200 mesh. A 0.5 gram portion of the pulp is then digested in hot aqua regia and analyzed for 31 elements by ICP MS method. Over limits for Ag are by fire assay with gravimetric finish, and over limits for Pb, Zn and Mn are by multi-acid digestion and ICP ES finish.
Technical information in this news release has been reviewed and approved by Jim Cuttle P.Geo a Qualified Person as defined in NI 43-101. For more information see the Company’s technical report entitled “Technical Report, Project Update, Treasure Mountain Property” dated June 15, 2011, available on SEDAR at www.sedar.com.
Huldra is currently working on plans to put its Treasure Mountain Project, located 3 hours east of Vancouver, BC, into development, subject to permitting and financing utilizing an offsite mill being constructed at the Company’s property outside of Merritt, BC. The Company is also actively assessing other opportunities for acquisition and development.
On behalf of the Board of Directors
Ryan Sharp, MBA
President, CEO & Director
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