SILVER SHIELD PREPARES PHASE III DRILLING PROGRAM AT WELSH SILVER MINE ELK LAKE ONTARIO
November 11 2010 - 9:30AM
PR Newswire (Canada)
BURLINGTON, ON, Nov. 11 /CNW/ -- BURLINGTON, ON, Nov. 11 /CNW/ -
Silver Shield Resources Corp. (TSXV - SSR) ("Silver Shield" or "the
Company") today announced that the company has reviewed the results
from its two previous diamond drill programs at its 100 % owned
Welsh Silver Mine at Elk Lake Ontario with the onus on planning
Phase III . An initial exploratory drill program in late 2006,
early 2007 was completed in and around the Welsh Silver Mine to
verify the existence and disposition of the silver bearing veins.
This successful Phase I was highlighted by narrow silver
intersections of over 150 gm Silver and 3.67 % Copper. The
Phase II drilling completed in August 2008 consisted of 3,000
metres. This drilling program consisted of 22 holes and encountered
silver mineralization in all holes. Twenty of the 22 holes were
drilled approximately 1 km southeast of the Welsh Silver Mine and
the remaining two holes were drilled 400 and 500 metres
respectively east of the Welsh Mine. Highlights of this drilling in
the new area SE of the existing mine returned values of over 2,600
grams Silver. The company urges investors to review, on the
website, the company's August 8,2008 press release for full
results. To try to enable a connect with the Welsh Mine, the
company has completed a stripping program between the 2008 drill
program and the mine. Numerous veins were uncovered.
Historically due to the high grade nature of the vein swarm when
these intersections are diluted to mineable widths the
mineralization still carries potential economic grades. Wide swarms
of narrow veins are common in the Elk Lake area (often
containing silver, copper and cobalt).The swarm of veins near the
former Welsh Silver Mine strikes east and underlies much of the
property. Wider sections of these veins contain silver of economic
interest. Phase Iand Phase II drilling has confirmed the existence
of the Welsh Silver Mine system and indeed has discovered an
additional veining system to the southeast. Phase III will be
targeted to uncover additional veining between the mine and the SE
zone. The Technical Report on the mine is on our website and we
urge all to review the history- and think about the future with
over $ 28.00 Silver. Tim D. Towers commented "The Welsh Silver Mine
was a former small producer of high grade silver when the silver
price was very low. It is characterized by a shallow two level
mine that was mined in a rudimentary method, and indeed
silver bearing material was milled on the site from silver bearing
lenses from the existing mine workings still there today. The mill
of course has been removed due to its state of disrepair.
With Silver over $ 28.00 per ounce recently Silver Shield feels
that this "Silver Gem" must be explored further as the economics of
today's silver price certainly warrants further drilling and
review". We urge all investors to register, at no cost, to our
Webinar @ www.publiclytraded.ca to be included in our presentation
tomorrow at 4:15. A Silver Mine potentially reopening again
here in Ontario who would have thought ! The TSX Venture Exchange
has not reviewed and does not accept responsibility for the
adequacy or accuracy of this news release. %SEDAR: 00024773E
pplease visit a
href="http://www.silvershieldresources.com"www.silvershieldresources.com/a
or contact:br/ bSilver Shield Resources Corp./bbr/ Donald Shaxon,
Manager of Corporate Development, (289) 838-5936/p
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