HIGH SILVER AND GOLD CONTENTS WITH SIGNIFICANT WIDTHS IN UNDERGROUND DRILLING PROGRAM.
Sotkamo Silver AB has received results from logging and sampling of the first six cores from this year's underground drilling program. The program has being performed with dimension of T-76, 62 mm core diameter. Labtium Oy, which has made assaying, is a FINAS-accredited testing laboratory T025 and T60, meeting the requirements of standard SFS-EN ISO/IEC 17025:2005
The assay results from the first five drill holes show high silver and gold contents with substantial widths at Taivaljärvi Silver Mine.
- 175 gram/ton silver and 0,7 gram/ton gold (13 metres in core from hole TU-41)
- 127 gram/ton silver and 1,4 gram/ton gold (6 metres in core from hole TU-43)
- 94 gram/ton silver and 1 gram/ton gold (16 metres in core from hole TU-51
- 237 gram/ton silver and 1,9 gram/ton gold (4 metres in core from hole TU-54)
- 294 gram/ton silver and 0,4 gram/ton gold (16 metres in core from hole TU-58)
The purpose of the drill program has been primarily to increase the indicated mineralresources that will serve as the basis for the feasibility study.
In the table below features the best assay results:
(For table see attached file)
For calculation of the silver and gold equivalents we have used a silver price of 22 USD/ounce, gold price of 1 200 USD/ounce, zinc price of 2 100 USD/t, and lead price of 2 000 USD/t. In addition, we used the 70% recovery and payment reduction for zinc and lead price, but no reduction for gold and silver.
Core drilling was carried out from the mine decline. The distance between drill sections are about 15-20 meters. Metalliferous zones found in each hole. In some holes the mineralised core-sections have significant widths and silver content. In one of them is up to 2 meters in width and 1,235 grams of silver per tonne, and in the second up to over 4 meters width and 357 grams silver per tonne of mineralized rock.
" I am very pleased with the assay results from these drill holes from Taivaljärvi Silver Mine. Assays of underground drilling shows that there are high silver content in these deeper parts of the deposit, "says Timo Lindborg, CEO of Sotkamo Silver AB.
The information in this press release is based on the assay-results from the independent accredited laboratory Labtium Ab. Sotkamo Silver’s chief technical office Jouko Jylänki has compiled the tables and the information in this press release. Jouko Jylänki owns shares in Sotkamo Silver AB. Independent consult Dr. Jyrki Parkkinen, doctor in geology, EURGEO. Qualified Person status by The European Federation of Geologists (EFG), has supervised the drilling and the reporting of this press release. He is not employed by Sotkamo Silver or its affiliates and doesn’t own any shares in the Company.
Stockholm, April 28, 2011
SOTKAMO SILVER AB (publ.)
Timo Lindborg, CEO
About Sotkamo Silver AB:
Sotkamo Silver AB´s business concept is to exploit mineral deposits in the Nordic countries with regard to human society and environment. Sotkamo Silver owns, through its subsidiary mineraldeposits, which contains silver and gold in Finland. The Company’s main development project is the Taivaljärvi Silver Mine.
Sotkamo Silver applies SveMin’s & FinnMin’s respective rules of reporting for public mining & exploration companies. Sotkamo Silver has chosen to report mineral resources and ore reserves according to the internationally accepted JORC or NI 43-101-code. The company applies International Financial Reporting Standards (IFRS) as approved by the European Union.
The shares are traded at the Burgundy market place and NGM Equity in Stockholm.
The ticker symbol is SOSI. ISIN-code for Sotkamo Silver shares is SE0001057910.
Read more about Sotkamo Silver on www.sotkamosilver.com or www.silver.fi
For further information: Mr. Timo Lindborg, CEO, phone: +46-8-30 49 20