SOTKAMO SILVER ANNOUNCES REMAINING RESULTS OF THE INFILL CORE DRILLING PROGRAM – FURTHER STRENGHTEN THE POTENTIAL OF THE DEPTH EXTENSION
All the assaying of the 12 drill holes (totalling to 1,457.45 meters) drilled from the decline at the Silver Mine in May-June 2017 has been completed. The results of the first eight holes were reported on 31stof July 2017.
High silver, gold and base metal concentrations below the current underground mine plans further strengthen the view that the deposit extends to the depth. This indicates a promising exploration target for the development of the Silver Mine and increasing of the Mineral Resource. The Mineral Resource and Ore Reserve estimates of the Silver Mine will be updated in the coming months. Ore grade intersections on the strike continuation of the planned stopes is expected to increase the current Ore Reserve to some extent.
Attached table 1 summarizes the best intersections of all 12 drill holes and the location of the holes is shown in picture 1. The best intersections of the earlier unreported holes are in the holes TU17-09 and TU17-11.
Drill hole TU17-09 was drilled to the horizon intersected also by the drill holes TU17-05 and TU17-07. The best intersection yielded 8 meters at 123 g/t silver, 0.36 g/t gold, 0.96% lead and 1.51% zinc. Intersection at deeper level yielded 5 meters at 121 g/t silver, 0.51 g/t gold, 0.38% lead and 0.53% zinc. The first intersection is located outside current stope plans and the second one along the strike outside the stope plan and will increase the mineable ore reserve.
Drill hole TU17-11 at the depth of ca. 150 meters to the area between two planned stopes. The best intersection yielded 3 meters at 143 g/t silver, 1.25 g/t gold, 0.50% lead and 0.81% zinc. Another 3 meters intersection yielded 77 g/t silver, 0.62 g/t gold, 0.63% lead and 3.35% zinc.
“The drilling program and its results provide a sound basis for the further development of ore reserves, the increase of mineral resources, and the deeper parts of the deposit of the Silver Mine. Higher metal and gold concentrations underneath the known ore reserve also boost the development works," says Dr Timo Lindborg, CEO of Sotkamo Silver AB.
Stockholm August 15th 2017
Sotkamo Silver AB (publ)
Timo Lindborg, CEO
This information is information that Sotkamo Silver AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08:45 CEST on August 15th, 2017.
Contact person
Timo Lindborg, CEO of Sotkamo Silver AB, tel. +358 40 508 3507
The official Stock Exchange Releases are given in Swedish and there may be differences in the translated versions.
Picture 1: Decline, planned stopes and drillholes of this campaign (green) in long section of the Silver Mine. The best intersections of this campaing and earlier holes TU39 and TU76 shown in the picture.
Table 1: Collar details and Assays of the best intersections of drillholes TU17-01…TU17-12
About Sotkamo Silver AB
Sotkamo Silver AB´s business concept is to exploit mineral deposits in the Nordic countries with positive social and environmental benefits. Sotkamo Silver owns mineral deposits, which contain silver and gold in Finland as well as zinc and gold in Norway. The Company’s main development project is the Silver Mine project in the municipality of Sotkamo.
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 ticker symbol is SOSI in NGM Equity in Stockholm and SOSI1 in NASDAQ OMX Helsinki.
ISIN-code for Sotkamo Silver shares is SE0001057910.
ISIN- code for share warrants series 2016/2017 are SE0008373880 with the ticker symbol SOSI TO4 in NGM Equity and SOSI1EW116 in NASDAQ OMX Helsinki.
The number of outstanding warrants are 20,643,198. The Warrant gives the right to subscribe for one (1) share at 4 SEK in August 2017
Legal Entity Identifier (LEI): 213800R2TQW1OZGYDX93
Read more about Sotkamo Silver on www.silver.fi
The Company's press releases and financial reports are distributed via Cision Sverige and are available on www.silver.fi
Tags:
