Silver Standard Resources, Inc.
May 1 2017
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Silver Standard Provides First Quarter 2017 Corporate Exploration Update

VANCOUVER, May 1, 2017 /CNW/ - Silver Standard Resources Inc. (NASDAQ: SSRI) (TSX: SSO) ("Silver Standard") provides an update on its exploration activities at its Marigold mine in Nevada, U.S. and Seabee Gold Operation in Saskatchewan, Canada, including selected drillhole results from the first quarter of 2017 and, previously unreleased results, from the fourth quarter of 2016.

Highlights:

Paul Benson, President and CEO said, "Our exploration programs at Marigold and Seabee continue to deliver positive results that demonstrate resource growth potential. We were pleased with the significant increase in Mineral Reserves at both operations at the end of 2016 and are confident that our exploration activities this year, supported by strong in-house expertise and expenditures of $5 million at each mine, will once again have a positive impact on our year-end Mineral Reserves. Brownfields exploration is a key aspect of our strategy to extend the life of our operations and create long term shareholder value."

Marigold mine, U.S.

Exploration activities during the first quarter of 2017 focused on the conversion of Mineral Resources to Mineral Reserves in areas proximal to the 2016 Mineral Reserves. During the quarter we completed 10,255 meters of reverse circulation drilling in 44 drillholes on four targets in close proximity to the existing pits. The most notable results include drillhole MRA6434 located in the center of the Mackay pit, which intersected 1.09 g/t gold over 106.7 meters from 43 meters below surface, as shown in Figures 1 and 2. Further drilling will be conducted in these four target areas during the remainder of the year.

In the fourth quarter of 2016, we continued drilling on targets at Valmy and Battle Cry with the objective of increasing Mineral Resources. Results received in the first quarter of 2017 from this drill program have increased the mineralized volume laterally and at depth compared to our Mineral Resource model at both Valmy and Battle Cry.

At Valmy, the mineralized structural trend continues approximately 400 meters beyond the south-east corner of the historic mining. The best results include drillhole MRA6368, which intersected 0.57 g/t gold over 45.7 meters from 194 meters below surface, followed by drillhole MR6379, located 160 meters away, that intersected 0.5 g/t gold over 85.3 meters, as shown in Figure 3. Such results demonstrate the potential to increase and convert Mineral Resources at Valmy.

The Battle Cry area is located 400 meters south of the Basalt pit and represents a new area that contributed to 2016 Indicated Mineral Resources. The most notable result was from drillhole MRA6384, which intersected 0.51 g/t gold over 91.4 meters from 69 meters below surface. This drillhole is outside of our 2016 Mineral Resource model and demonstrates the potential to increase Mineral Resources for conversion to Mineral Reserves in this area.

The positive drill results received to date from this Marigold drill program warrant further drilling, which is currently underway. Table 1 lists selected drill results from the first quarter of 2017 and the fourth quarter of 2016, while Table 2 provides the collar coordinates and drillhole lengths.

Seabee Gold Operation, Canada

In the first quarter of 2017, we completed 16,267 meters of underground drilling and 11,394 meters of surface drilling in 42 and 24 drillholes, respectively, with the goals to discover, increase and convert Mineral Resources.

Our underground drill program for the first quarter of 2017 focused on three targets, including Santoy Gap, Santoy 8A vein and the new Santoy Gap Hanging Wall ("Gap HW"), with positive results at all three areas.

Drilling at Santoy Gap aims to increase or upgrade Inferred Mineral Resources, with the most notable result being drillhole SUG-17-015, which intersected an uncut grade of 1004.74 g/t gold over 1.6 meters true width, including 3,887.8 g/t gold over 0.4 meters true width. This drillhole is located in an area outside current Mineral Resources but is within 25 meters of existing mineralization. Six drillholes in this area have an average grade of 11.8 g/t gold over a true width of 2.3 meters. 

At Santoy 8, drilling was focused on upgrading existing Mineral Resources at the Santoy 8A vein, with the most notable result from drillhole SUG-17-902, which intersected 21.89 g/t gold over 3.0 meters on the lower zone of Inferred Mineral Resources. Also on the Santoy 8A vein, we received results from drillhole JOY-16-751, which assayed 9.11 g/t gold over 9.5 meters. This drillhole is located between two areas of Inferred Mineral Resources and has the potential to re-establish continuity between these two zones.

At Gap HW, surface drilling designed to confirm the new target returned an assay of 8.20 g/t gold over 9.9 meters in hole JOY-16-749.  Gap HW is mineralization that is associated with a dyke-like mass of granodiorite located almost 200 meters in the hangingwall of the Gap shear zone.  If Mineral Resources are confirmed here, they would offer increased operational flexibility. 

Further drilling at all three targets is underway to determine the continuity of the identified mineralization. The drill results from our first quarter underground program are shown on the longitudinal section in Figure 4. Table 3 lists highlighted drill results at the Seabee Gold Operation for the fourth quarter of 2016 and first quarter of 2017. 

Surface exploration drilling in the first quarter focused on three areas including Porky Main, Carr and Herb, with positive results identified at the former two areas. At Porky Main, three drillholes have been completed to explore the down dip region up to 350 meters below the existing Mineral Resources.  Results are still pending, but drillhole PKY-17-049 intersected quartz veining and arsenopyrite with visible gold. Drilling at the Carr target has defined a linear mineralized structure with alteration and mineralization similar to Santoy Gap. Thus far, nine holes have been completed with analytical results received for drillhole CAR-17-001, which intersected 3.09 g/t gold over 1.15 meters. Due to these encouraging results, additional exploration drilling has been planned for the first half of 2017 at both areas to define additional Inferred Mineral Resources.

At the Fisher project, where we hold an option, planning is underway for exploration activities in the second half of 2017. We have compiled available data and prioritized field targets, which will be used to select drill targets. Materials and equipment for the exploration camp, field activities and drilling at the Fisher project were delivered via ice roads during the first quarter of 2017.

Next Steps

At the Marigold mine, 2017 exploration objectives are to replace depleted Mineral Reserves through conversion of existing Mineral Resources and to discover new Mineral Resources.  Conversion targets exist at the East Basalt, Battle Cry, Crossfire, and Hollow Point areas and within the Mackay pit.

At the Seabee Gold Operation, our underground 2017 exploration plan is for the completion of up to 60,000 meters of drilling to upgrade existing Mineral Resources and to discover additional Inferred Mineral Resources at Santoy Gap, Santoy 8 and the Seabee mine. At the Seabee mine, we have allocated approximately 30% of underground drilling for testing of targets to maximize Mineral Resource potential at the mine as we develop our longer term strategy for this historically productive area. Our surface drill programs at the Seabee Gold Operation are expected to complete approximately 28,500 meters on up to nine district targets.

Figure 1. Drillhole location plan map for the fourth quarter 2016 and first quarter 2017 exploration drill programs at the Marigold mine, Nevada, U.S.

Figure 2. Drill cross section along A-A' highlighting the Mackay pit area at the Marigold mine, Nevada, U.S.

Figure 3. Drill cross section along B - B' highlighting the Valmy area at the Marigold mine, Nevada, U.S.

Figure 4. Longitudinal section for the fourth quarter 2016 and first quarter 2017 exploration drill program at Santoy mine complex, Seabee Gold Operation, Saskatchewan, Canada.

Table 1. Selected drillhole results from the fourth quarter 2016 and first quarter 2017 exploration drill programs at the Marigold mine, Nevada, U.S.

Hole ID

From
(meters)

To
(meters)

Width
(meters)

Gold Grade
(g/ tonne)

Area

MRA6320

0.0

68.6

68.6

0.13

HideOut


193.5

210.3

16.8

0.48


(including)

196.6

199.6

3.0

1.76


MR6336

74.7

94.5

19.8

2.49

Valmy

(including)

76.2

88.4

12.2

3.91



100.6

170.7

70.1

1.30


(including)

105.2

111.3

6.1

1.48


(including)

117.3

129.5

12.2

4.01


(including)

135.6

141.7

6.1

3.24


(including)

146.3

149.4

3.0

1.14



257.6

262.1

4.6

0.56


MR6343

149.4

152.4

3.0

1.13

Valmy


169.2

173.7

4.6

0.75



153.9

167.6

13.7

0.25


MR6345

111.3

115.8

4.6

0.47

Valmy


158.5

184.4

25.9

0.20



371.9

379.5

7.6

0.24



118.9

137.2

18.3

0.43


MR6347

131.1

143.3

12.2

0.88

Valmy

(including)

134.1

138.7

4.6

2.12



176.8

224.0

47.2

0.19


MR6348

164.6

182.9

18.3

0.13

Valmy


221.0

253.0

32.0

0.23


MR6349

221.0

253.0

32.0

0.72

East Basalt

(including)

237.7

245.4

7.6

1.92



285.0

338.3

53.3

0.87


(including)

285.0

289.6

4.6

4.69


(including)

294.1

298.7

4.6

1.13


(including)

315.5

320.0

4.6

1.16


MRA6350

83.8

91.4

7.6

0.69

East Basalt

(including)

86.9

89.9

3.0

1.42



105.2

117.3

12.2

0.37



249.9

272.8

22.9

0.26



131.1

153.9

22.9

0.17



253.0

275.8

22.9

0.61


(including)

263.7

268.2

4.6

2.15



291.1

350.5

59.4

0.44


(including)

307.8

312.4

4.6

1.10


(including)

320.0

326.1

6.1

1.75


MR6352

123.4

128.0

4.6

0.52

Valmy


105.2

118.9

13.7

0.58


(including)

114.3

117.3

3.0

1.16



193.5

204.2

10.7

0.34



204.2

217.9

13.7

1.08



217.9

228.6

10.7

0.26



263.7

298.7

35.1

1.67


(including)

265.2

278.9

13.7

2.45


(including)

288.0

297.2

9.1

2.09



298.7

307.8

9.1

0.29



307.8

338.3

30.5

0.34


(including)

312.4

317.0

4.6

1.06


MR6354

158.5

210.3

51.8

1.64

East Basalt

(including)

158.5

167.6

9.1

2.84


(including)

179.8

184.4

4.6

3.74


(including)

185.9

198.1

12.2

2.38



117.3

144.8

27.4

0.60


(including)

120.4

129.5

9.1

1.22



260.6

310.9

50.3

1.64


(including)

263.7

283.5

19.8

3.01


(including)

288.0

294.1

6.1

1.49


(including)

303.3

306.3

3.0

1.98


MR6358

0.0

33.5

33.5

0.10

Valmy

MR6360

109.7

131.1

21.3

0.64

Valmy

(including)

112.8

117.3

4.6

1.67



147.8

163.1

15.2

0.19


MR6361

115.8

126.5

10.7

0.34

Mud Pit

MR6362

82.3

86.9

4.6

0.44

Mud Pit

MRA6363

19.8

27.4

7.6

0.35

Mud Pit

MRA6364

29.0

36.6

7.6

0.43

East Basalt


108.2

134.1

25.9

0.57


(including)

111.3

114.3

3.0

1.17


(including)

131.1

134.1

3.0

1.80



150.9

167.6

16.8

0.48



184.4

192.0

7.6

0.99


(including)

184.4

187.5

3.0

2.21



199.6

234.7

35.1

0.83


(including)

201.2

202.7

1.5

1.99


(including)

208.8

216.4

7.6

2.49


MR6365

21.3

33.5

12.2

0.91

East Basalt

(including)

22.9

29.0

6.1

1.60



117.3

224.0

106.7

0.94


(including)

157.0

160.0

3.0

2.72


(including)

166.1

187.5

21.3

1.89


(including)

193.5

207.3

13.7

2.57


MR6366

135.6

141.7

6.1

0.98

Valmy

(including)

137.2

140.2

3.0

1.63


MR6367

141.7

149.4

7.6

0.33

Valmy


158.5

219.5

61.0

0.79


(including)

166.1

172.2

6.1

1.24


(including)

175.3

181.4

6.1

2.99


(including)

195.1

201.2

6.1

1.71



234.7

285.0

50.3

0.23



289.6

306.3

16.8

0.22


MRA6368

193.5

239.3

45.7

0.57

Valmy

(including)

193.5

196.6

3.0

2.52


(including)

199.6

202.7

3.0

1.59



249.9

260.6

10.7

0.41


MR6369

132.6

137.2

4.6

2.24

Valmy

(including)

132.6

135.6

3.0

3.28


MR6370

129.5

135.6

6.1

1.07

Valmy


143.3

157.0

13.7

0.92


(including)

144.8

150.9

6.1

1.63



167.6

199.6

32.0

0.67


(including)

167.6

172.2

4.6

2.20



205.7

227.1

21.3

0.16


MR6371

118.9

163.1

44.2

0.36

Valmy

(including)

152.4

155.4

3.0

1.20


(including)

160.0

161.5

1.5

1.33



170.7

187.5

16.8

0.69


(including)

173.7

175.3

1.5

1.57


(including)

178.3

181.4

3.0

1.63


MR6372

144.8

147.8

3.0

0.81

Valmy

(including)

144.8

146.3

1.5

1.44



239.3

254.5

15.2

0.32


MR6373

83.8

93.0

9.1

1.10

Valmy

(including)

83.8

86.9

3.0

2.31



108.2

114.3

6.1

0.32


MR6374

93.0

152.4

59.4

1.10

East Basalt

(including)

93.0

100.6

7.6

6.93



163.1

222.5

59.4

0.84


(including)

170.7

189.0

18.3

1.89


MR6375

169.2

172.2

3.0

0.75

Valmy


96.0

117.3

21.3

0.16


MR6378

112.8

117.3

4.6

1.10

East Basalt

(including)

112.8

114.3

1.5

2.84



153.9

179.8

25.9

0.33


(including)

172.2

175.3

3.0

1.14



184.4

198.1

13.7

0.25



217.9

240.8

22.9

0.74


(including)

225.6

227.1

1.5

3.21


(including)

231.6

234.7

3.0

2.67



259.1

275.8

16.8

0.40


(including)

265.2

266.7

1.5

1.94


MR6379

192.0

277.4

85.3

0.51

Valmy

(including)

201.2

208.8

7.6

1.72


(including)

248.4

253.0

4.6

2.43


(including)

266.7

269.7

3.0

1.47


MRA6380

67.1

96.0

29.0

0.17

Battle Cry

MRA6381

54.9

88.4

33.5

0.39

Battle Cry

(including)

73.2

76.2

3.0

1.20


MRA6382

36.6

65.5

29.0

0.36

Battle Cry

MRA6383

117.3

146.3

29.0

0.47

Battle Cry

(including)

117.3

118.9

1.5

1.24


(including)

126.5

129.5

3.0

1.60



160.0

178.3

18.3

0.10


MRA8384

68.6

160.0

91.4

0.51

Battle Cry

(including)

96.0

99.1

3.0

1.21


(including)

105.2

112.8

7.6

2.01


(including)

138.7

140.2

1.5

1.59


MRA6385

57.9

70.1

12.2

0.32

Battle Cry


97.5

114.3

16.8

0.44



128.0

150.9

22.9

0.46


(including)

132.6

135.6

3.0

1.32


MRA6386

125.0

152.4

27.4

0.20

Crossfire


202.7

221.0

18.3

0.13


MR6387

77.7

89.9

12.2

0.46

Crossfire

(including)

79.2

82.3

3.0

1.55


MRA6388

109.7

132.6

22.9

0.28

Battle Cry


141.7

187.5

45.7

0.69


(including)

153.9

161.5

7.6

3.03



208.8

234.7

25.9

0.13


MR6390

59.4

93.0

33.5

0.46

Crossfire

(including)

67.1

71.6

4.6

1.86


MR6391

204.2

269.7

65.5

0.73

Valmy

(including)

210.3

224.0

13.7

2.27


MR6393

19.8

33.5

13.7

0.18

Crossfire


111.3

126.5

15.2

0.17



161.5

179.8

18.3

0.50


(including)

164.6

167.6

3.0

1.15


MRA6396

0.0

6.1

6.1

0.40

Mackay Pit


100.6

118.9

18.3

0.56


(including)

100.6

106.7

6.1

1.22



158.5

195.1

36.6

0.50


(including)

179.8

181.4

1.5

1.33


(including)

192.0

195.1

3.0

1.15


MRA6397

0.0

4.6

4.6

0.45

Mackay Pit


80.8

103.6

22.9

0.22



164.6

216.4

51.8

0.63


(including)

167.6

172.2

4.6

0.86


(including)

181.4

184.4

3.0

1.08


(including)

208.8

213.4

4.6

1.87



216.4

230.1

13.7

0.18


MRA6398

24.4

56.4

32.0

0.25

Mackay Pit


134.1

149.4

15.2

0.14



161.5

182.9

21.3

0.29


MRA6399

21.3

42.7

21.3

0.17

Mackay Pit


51.8

76.2

24.4

0.17



123.4

199.6

76.2

0.78


(including)

129.5

140.2

10.7

3.13


MRA6400

10.7

53.3

42.7

0.37

Mackay Pit


135.6

152.4

16.8

0.48



166.1

189.0

22.9

0.38


MRA6401

112.8

123.4

10.7

0.50

Mackay Pit


137.2

153.9

16.8

0.40



153.9

187.5

33.5

0.52



195.1

210.3

15.2

0.45


MRA6404

18.3

57.9

39.6

0.51

Mackay Pit

(including)

24.4

30.5

6.1

1.04


(including)

44.2

47.2

3.0

1.34


MRA6405

19.8

51.8

32.0

0.40

Mackay Pit

(including)

25.9

27.4

1.5

1.24


(including)

30.5

35.1

4.6

1.16



173.7

178.3

4.6

0.71



178.3

185.9

7.6

0.48


(including)

184.4

185.9

1.5

1.20



185.9

199.6

13.7

0.92



199.6

211.8

12.2

0.55



219.5

233.2

13.7

1.74


MRA6406

18.3

29.0

10.7

0.28

Mackay Pit


38.1

62.5

24.4

0.20



181.4

187.5

6.1

0.75



207.3

221.0

13.7

0.27


MRA6407

164.6

193.5

29.0

0.69

Mackay Pit

(including)

170.7

176.8

6.1

1.43


(including)

189.0

192.0

3.0

1.39


MR6408

0.0

61.0

61.0

0.12

HideOut


111.3

131.1

19.8

0.11


MRA6409

129.5

153.9

24.4

0.31

Mackay Pit

MRA6410

123.4

181.4

57.9

0.58

Mackay Pit

(including)

128.0

135.6

7.6

1.44



205.7

228.6

22.9

0.21



233.2

245.4

12.2

0.38


MRA6411

137.2

146.3

9.1

0.28

Mackay Pit

MRA6412

0.0

16.8

16.8

0.14

Mackay Pit


150.9

172.2

21.3

0.31



179.8

199.6

19.8

1.23


(including)

181.4

190.5

9.1

2.36



214.9

222.5

7.6

0.34


MRA6413

158.5

193.5

35.1

0.36

Mackay Pit


211.8

230.1

18.3

0.50


MRA6414

0.0

6.1

6.1

0.32

Mackay Pit


160.0

178.3

18.3

0.39

Mackay Pit

MRA6415

0.0

22.9

22.9

0.22

Mackay Pit


196.6

245.4

48.8

0.64


MRA6416

0.0

68.6

68.6

0.11

HideOut

MRA6418

0.0

64.0

64.0

0.09

HideOut

MRA6419

0.0

74.7

74.7

0.09

HideOut


117.3

128.0

10.7

0.27


MR6420

0.0

27.4

27.4

0.08

HideOut

MRA6422

0.0

7.6

7.6

0.86

Mackay Pit

(including)

0.0

3.0

3.0

1.60



13.7

22.9

9.1

0.64


(including)

15.2

18.3

3.0

1.31


MR6423

115.8

134.1

18.3

0.64

Mackay Pit

(including)

115.8

125.0

9.1

0.79



134.1

199.6

65.5

0.28


MR6424

89.9

105.2

15.2

0.39

Mackay Pit


118.9

125.0

6.1

0.32



163.1

179.8

16.8

0.60



179.8

185.9

6.1

0.53


MRA6425

50.3

59.4

9.1

1.01

Mackay Pit

(including)

50.3

54.9

4.6

1.89



68.6

77.7

9.1

0.63



108.2

128.0

19.8

0.64


(including)

109.7

120.4

10.7

0.98


MRA6426

27.4

36.6

9.1

0.31

Mackay Pit


65.5

82.3

16.8

0.20



86.9

111.3

24.4

0.95


(including)

88.4

93.0

4.6

1.55


(including)

97.5

105.2

7.6

1.45


MRA6428

64.0

76.2

12.2

2.34

Mackay Pit

(including)

65.5

71.6

6.1

4.28



83.8

111.3

27.4

0.51


(including)

103.6

106.7

3.0

1.30



144.8

152.4

7.6

0.24


(including)

152.4

155.4

3.0

1.59



155.4

163.1

7.6

0.88



163.1

176.8

13.7

0.91


(including)

163.1

167.6

4.6

1.23



176.8

184.4

7.6

0.47


MRA6429

42.7

64.0

21.3

0.27

Mackay Pit


70.1

89.9

19.8

0.64


(including)

70.1

76.2

6.1

1.12


(including)

82.3

85.3

3.0

1.05



125.0

155.4

30.5

0.57


(including)

132.6

135.6

3.0

1.03



138.7

146.3

7.6

0.97



169.2

184.4

15.2

0.28


MRA6432

73.2

83.8

10.7

0.96

Mackay Pit

(including)

76.2

82.3

6.1

1.57



100.6

108.2

7.6

0.79


(including)

102.1

106.7

4.6

1.23



117.3

178.3

61.0

0.42


(including)

125.0

128.0

3.0

1.32



178.3

198.1

19.8

0.29


MR6433

83.8

99.1

15.2

0.23

Mackay Pit

MRA6434

42.7

149.4

106.7

1.09

Mackay Pit

(including)

42.7

47.2

4.6

2.70


(including)

64.0

82.3

18.3

4.10


MR6435

274.3

285.0

10.7

1.22

North Red Dot

(including)

275.8

285.0

9.1

1.35



317.0

419.1

102.1

0.56


(including)

323.1

326.1

3.0

3.13


(including)

365.8

379.5

13.7

2.31


MRA6436

45.7

144.8

99.1

1.08

Mackay Pit

(including)

45.7

67.1

21.3

4.20


MRA6437

45.7

117.3

71.6

1.76

Mackay Pit

(including)

47.2

73.2

25.9

4.19


(including)

89.9

93.0

3.0

1.06



141.7

149.4

7.6

0.25


MRA6438

19.8

27.4

7.6

0.57

Mackay Pit

(including)

21.3

24.4

3.0

1.03



41.1

135.6

94.5

0.67


(including)

51.8

56.4

4.6

1.74


(including)

62.5

68.6

6.1

1.02


(including)

80.8

93.0

12.2

1.15


(including)

100.6

109.7

9.1

1.77


MR6439

3.0

112.8

109.7

0.62

Mackay Pit

(including)

24.4

33.5

9.1

2.94


(including)

56.4

67.1

10.7

1.83


MRA6441

50.3

65.5

15.2

0.18

Mackay Pit


Notes: Width in meters represents downhole intersected length, which may or may not be a true thickness of the mineralization. Drillholes presented in this table have thickness greater than six meters at 0.3 g/t gold. If drillholes are not listed, they do not have significant gold values. "Width" may not equal the difference between "To" and "From" due to rounding.

 

Table 2. Drillhole collars from the fourth quarter 2016 and first quarter 2017 exploration drill programs at the Marigold mine, Nevada, U.S.

HOLE ID

UTM-N
(Nad27

Zone11)

UTM-E
(Nad27

Zone11)

Elevation
(masl)

Azimuth
(deg.)

Dip
(deg.)

Length
(meters)

Area

MRA6320

4508879

485682

1592

85

-71

276

HideOut

MR6336

4504466

487046

1876

278

-89

306

Valmy

MR6343

4504531

487148

1860

197

-90

282

Valmy

MRA6344

4503859

485838

1841

270

-55

337

East Basalt

MR6345

4504559

487143

1857

299

-90

386

Valmy

MRA6346

4503829

485843

1840

270

-54

337

East Basalt

MR6347

4505051

487531

1829

201

-90

276

Valmy

MR6348

4505052

487503

1830

238

-90

276

Valmy

MRA6349

4503556

485880

1840

269

-55

383

East Basalt

MRA6350

4503584

485893

1845

272

-71

367

East Basalt

MRA6351

4503584

485893

1845

270

-55

367

East Basalt

MR6352

4504285

486991

1937

215

-89

276

Valmy

MRA6353

4503528

485860

1835

274

-56

352

East Basalt

MR6354

4503481

485876

1831

170

-89

276

East Basalt

MRA6355

4503481

485876

1831

275

-55

337

East Basalt

MR6356

4506215

486514

1678

254

-89

184

Valmy

MR6357

4506541

486621

1659

67

-90

184

Valmy

MR6358

4506415

486577

1691

358

-90

215

Valmy

MR6360

4504678

487116

1851

272

-90

276

Valmy

MR6361

4506388

486866

1640

284

-89

154

Mud Pit

MR6362

4506512

486837

1639

240

-90

142

Mud Pit

MRA6363

4506541

486809

1639

269

-63

184

Mud Pit

MRA6364

4503464

485849

1832

272

-86

300

East Basalt

MR6365

4503469

485864

1831

133

-89

306

East Basalt

MR6366

4504374

486955

1914

250

-90

245

Valmy

MR6367

4504375

487107

1914

258

-90

306

Valmy

MRA6368

4504416

487139

1896

88

-65

306

Valmy

MR6369

4504401

486923

1915

180

-90

215

Valmy

MR6370

4504438

487140

1887

307

-90

306

Valmy

MR6371

4504558

487190

1860

99

-88

276

Valmy

MR6372

4504622

487157

1853

68

-89

276

Valmy

MR6373

4504648

487102

1849

248

-89

276

Valmy

MR6374

4503499

485903

1832

194

-90

276

East Basalt

MR6375

4504495

487178

1864

169

-88

245

Valmy

MR6376

4504471

486895

1906

163

-90

337

Valmy

MRA6377

4502578

485635

1859

92

-66

203

Battle Cry

MR6378

4503540

485962

1838

306

-89

276

East Basalt

MR6379

4504355

487319

1895

249

-90

337

Valmy

MRA6380

4502608

485623

1857

88

-60

169

Battle Cry

MRA6381

4502636

485602

1853

90

-61

197

Battle Cry

MRA6382

4502729

485608

1832

94

-61

178

Battle Cry

MRA6383

4502669

485482

1829

93

-69

251

Battle Cry

MRA6384

4502696

485491

1829

88

-61

160

Battle Cry

MRA6385

4502734

485500

1822

92

-61

215

Battle Cry

MRA6386

4505171

487647

1772

269

-46

245

Crossfire

MR6387

4505112

487629

1784

142

-89

215

Crossfire

MRA6388

4503188

485748

1799

91

-54

306

Battle Cry

MR6389

4505227

487465

1801

179

-90

215

Crossfire

MR6390

4505115

487671

1784

69

-90

245

Crossfire

MR6391

4504247

487394

1912

164

-90

306

Valmy

MRA6392

4502915

485560

1847

90

-62

190

Battle Cry

MR6393

4505228

487659

1777

64

-89

215

Crossfire

MR6394

4505288

487636

1773

21

-90

215

Crossfire

MR6395

4503037

485724

1857

317

-90

306

Battle Cry

MRA6396

4508920

485221

1538

90

-60

230

Mackay Pit

MRA6397

4508949

485254

1537

88

-53

230

Mackay Pit

MRA6398

4509131

485396

1527

89

-69

230

Mackay Pit

MRA6399

4509134

485397

1527

268

-70

230

Mackay Pit

MRA6400

4509162

485464

1526

268

-74

245

Mackay Pit

MRA6401

4509040

485435

1526

87

-80

215

Mackay Pit

MRA6402

4509040

485435

1526

88

-66

215

Mackay Pit

MRA6403

4509102

485308

1526

90

-70

230

Mackay Pit

MRA6404

4509103

485383

1526

90

-55

215

Mackay Pit

MRA6405

4509195

485426

1527

270

-69

245

Mackay Pit

MRA6406

4509190

485429

1527

87

-84

245

Mackay Pit

MRA6407

4509375

485429

1539

89

-78

229

Mackay Pit

MR6408

4508850

485686

1591

27

-90

261

HideOut

MRA6409

4509342

485486

1532

86

-68

245

Mackay Pit

MRA6410

4509376

485499

1537

88

-64

245

Mackay Pit

MRA6411

4509376

485499

1537

88

-50

276

Mackay Pit

MRA6412

4509407

485475

1539

88

-73

230

Mackay Pit

MRA6413

4509438

485517

1543

274

-83

230

Mackay Pit

MRA6414

4509407

485578

1524

86

-73

230

Mackay Pit

MRA6415

4509195

485350

1529

271

-64

245

Mackay Pit

MRA6416

4508888

485687

1592

278

-68

245

HideOut

MRA6417

4508888

485686

1592

274

-51

276

HideOut

MRA6418

4508849

485686

1591

275

-71

261

HideOut

MRA6419

4508850

485685

1591

274

-51

276

HideOut

MR6420

4508766

485630

1560

329

-90

215

HideOut

MRA6422

4507120

485307

1455

89

-84

123

Mackay Pit

MR6423

4506995

485213

1491

27

-89

200

Mackay Pit

MR6424

4507028

485199

1495

316

-90

186

Mackay Pit

MRA6425

4507028

485200

1494

84

-71

169

Mackay Pit

MRA6426

4507151

485225

1508

84

-45

200

Mackay Pit

MRA6427

4508766

485631

1561

90

-55

230

HideOut

MRA6428

4507092

485207

1501

88

-79

184

Mackay Pit

MRA6429

4507120

485216

1504

86

-73

184

Mackay Pit

MR6430

4508279

484847

1570

14

-89

329

North Red Dot

MRA6432

4507151

485223

1508

84

-79

215

Mackay Pit

MR6433

4507210

485250

1514

65

-89

197

Mackay Pit

MRA6434

4507244

485269

1519

89

-44

209

Mackay Pit

MR6435

4508005

484779

1590

17

-89

428

North Red Dot

MRA6436

4507274

485289

1523

88

-44

215

Mackay Pit

MRA6437

4507300

485306

1525

91

-54

212

Mackay Pit

MRA6438

4507335

485340

1529

90

-54

215

Mackay Pit

MR6439

4507354

485356

1530

4

-89

190

Mackay Pit

MR6440

4508095

484828

1578

77

-88

373

North Red Dot

MRA6441

4507301

485431

1539

91

-71

200

Mackay Pit


Notes: This table reports all the drillholes completed during the fourth quarter of 2016 and first quarter of 2017. The numerical gaps in the drillhole sequence result from drillholes reported previously or drillholes expected to be drilled in 2017.

 

Table 3. Selected drillhole results from the fourth quarter 2016 and first quarter 2017 exploration drill programs at the Seabee Gold Operation, Saskatchewan, Canada.

Hole ID

From
(meters)

To
(meters)

Mine E
(midpoint)1

Mine N 
(midpoint)1

Elevation
(midpoint)1

Gold
(g/t)2

True

Width
(meters)

Zone

SUG-16-065

118.3

120.3

3835.5

5006.9

-459.7

1.50

1.9

9C

SUG-16-066

118.3

121.3

3827.4

5014.4

-471.0

1.30

2.8

9C

SUG-16-067

135.7

138.4

3866.8

4990.0

-442.3

13.26

2.3

9C

SUG-16-068

121.9

126.5

3843.3

5015.7

-469.4

1.59

4.2

9C

SUG-16-069

126.8

131.5

3823.3

5035.1

-496.1

5.18

4.1

9C

SUG-16-070

152.6

159.7

3898.3

4992.5

-441.4

4.98

5.5

9C

SUG-16-071

128.3

133.6

3858.2

5014.8

-466.9

17.47

4.7

9C

SUG-16-072

129.9

137.0

3844.8

5029.6

-489.1

18.22

6.1

9C

SUG-16-073

137.4

141.0

3817.9

5054.9

-514.3

12.31

2.8

9C

SUG-16-074

151.6

156.8

3896.4

5010.2

-460.7

0.65

3.9

9C

SUG-16-075

128.6

136.6

3837.0

5033.7

-473.4

14.49

6.9

9C

SUG-16-076

177.6

186.0

3927.1

5020.4

-476.7

0.26

5.9

9A

SUG-16-077

162.0

165.5

3900.0

5032.5

-487.4

0.94

2.5

9C

SUG-16-078

162.5

167.4

3869.5

5043.5

-524.3

0.16

3.9

9A

SUG-16-079

158.5

160.1

3692.9

5051.8

-512.9

5.29

1.1

9B

SUG-16-080

150.8

154.3

3731.3

5060.6

-527.3

2.56

2.5

9A

SUG-16-081

182.5

183.1

3657.5

5039.8

-514.1

1.33

0.4

9A

SUG-16-082

155.0

161.0

3684.6

5039.6

-504.0

1.75

4.0

9B

SUG-16-083

137.5

145.5

3735.3

5057.3

-516.4

20.99

5.8

9C

SUG-16-085

184.1

188.3

3621.9

5007.7

-451.8

0.01

2.1

9C

SUG-16-086

172.1

174.4

3642.4

5023.2

-473.7

2.71

1.3

9C

SUG-16-087

144.5

150.1

3752.6

5062.6

-527.6

1.31

4.0

9C

SUG-16-088

150.7

155.1

3710.6

5050.1

-517.2

0.64

3.0

9B

SUG-16-089

263.5

271.5

3568.2

4918.5

-369.1

10.09

2.8

9C

SUG-16-090

146.9

150.0

3679.1

4991.3

-445.7

51.17

2.1

9B

SUG-16-091

135.3

140.5

3687.9

4991.2

-430.4

4.83

5.2

9C

SUG-16-092

182.5

189.8

3637.0

4964.8

-415.5

3.66

4.0

9C

SUG-16-093

116.8

122.4

3752.8

5034.4

-489.9

10.24

5.0

9C

SUG-16-094

121.1

128.2

3734.2

5024.1

-484.6

0.65

6.1

9C

SUG-16-095

126.0

128.6

3764.9

5047.8

-505.5

4.81

2.1

9C

SUG-16-096

110.8

117.1

3767.8

5024.7

-481.2

4.36

5.9

9C

SUG-16-097

129.4

134.3

3788.0

5047.7

-510.4

12.67

4.1

9B

SUG-16-098

203.5

208.3

3821.0

5095.0

-587.1

2.03

3.1

9A

JOY-16-749

338.7

350.0

4185.1

5211.0

-341.1

8.20

9.9

GHW

JOY-16-751

601.2

608.8

4260.3

5240.6

-570.4

9.11

9.5

8A

SUG-16-918

573.5

581.5

4178.8

5256.8

-616.2

13.09

2.9

8A

SUG-16-919

361.0

365.6

4314.3

5150.7

-457.7

92.20

2.6

8A

SUG-16-920

351.3

356.5

4325.1

5145.7

-450.8

38.43

3.2

8A

SUG-16-922

331.5

335.1

4679.6

5153.5

-450.8

14.93

1.9

8A

SUG-16-923

412.0

422.5

4252.1

5147.5

-476.3

4.75

4.3

8A

SUG-16-924

318.3

321.4

4335.6

5087.3

-405.9

2.95

1.9

8A

SUG-16-925

354.5

364.1

4291.2

5100.0

-427.1

11.74

4.7

8A

SUG-16-926

351.0

359.5

4283.2

5061.6

-400.6

0.08

5.3

8A

SUG-16-927

267.9

271.0

4401.2

5093.8

-390.0

0.77

2.1

8A

SUG-16-928

384.0

387.0

4256.8

5070.5

-422.3

0.01

1.5

8A

SUG-16-929

262.8

265.2

4436.5

5114.9

-405.0

0.14

1.5

8A

SUG-16-930

274.6

275.4

4389.1

5074.6

-383.4

0.10

0.6

8A

SUG-16-931

270.6

275.3

4420.8

5104.2

-406.9

0.07

3.6

8A

SUG-16-932

282.7

284.1

4342.8

5030.4

-332.9

0.01

0.9

8A

SUG-16-934

270.5

275.6

4365.3

5029.8

-336.2

0.45

3.7

8A

SUG-16-935

239.6

240.8

4423.2

5043.9

-341.7

11.47

0.9

8A

SUG-16-936

333.0

334.6

4320.1

4955.9

-319.7

3.46

1.2

9A

SUG-16-937

220.2

223.3

4445.1

5030.4

-317.9

0.02

2.7

8A

SUG-16-938

266.5

268.4

4391.4

4962.3

-272.4

0.04

1.5

8A

SUG-16-939

217.5

218.6

4447.1

4991.9

-268.6

0.06

0.9

8A

SUG-16-940

238.3

243.6

4619.8

5086.0

-369.5

0.18

4.7

8A

SUG-16-941

263.5

265.6

4561.6

5132.4

-422.0

0.05

1.4

8A

SUG-16-942

266.5

269.9

4683.2

5097.4

-369.4

7.65

2.4

8A

SUG-16-943

254.4

259.5

4620.1

5112.4

-397.2

0.24

3.8

8A

SUG-16-944

294.1

308.4

4709.9

5121.1

-401.5

5.34

9.1

8A

SUG-17-001

233.2

237.0

3834.9

5105.8

-493.0

53.51

2.1

9A

SUG-17-002

221.1

227.9

3844.6

5099.0

-600.9

0.34

4.3

9A

SUG-17-003

265.6

266.0

3912.1

5139.9

-613.2

1.07

0.2

9A

SUG-17-004

238.9

239.9

3844.5

5115.1

-614.9

75.00

0.6

9A

SUG-17-005

254.0

267.5

3855.7

5135.8

-631.2

5.66

6.7

9A

SUG-17-006

214.6

217.5

3800.2

5100.8

-598.9

0.04

1.8

9C

SUG-17-007

257.6

263.5

3773.4

5151.6

-636.8

10.04

2.5

9A

SUG-17-008

273.1

287.7

3750.9

5178.2

-643.3

20.65

2.0

9C

SUG-17-009

198.6

209.4

3778.0

5087.6

-587.4

0.12

7.4

9A

SUG-17-010

278.6

284.6

3701.1

5157.1

-644.5

51.16

2.3

9B

SUG-17-011

431.9

434.0

3614.5

5251.6

-747.7

0.01

0.6

9C

SUG-17-012

309.2

314.7

3634.2

5163.2

-647.8

0.75

1.7

9C

SUG-17-013

250.5

254.5

3684.2

5136.6

-611.2

0.07

1.6

9B

SUG-17-014

224.1

228.6

3703.8

5123.0

-593.2

0.29

2.1

9B

SUG-17-015

235.2

238.3

3716.5

5115.6

-609.6

20.79

1.6

9A

SUG-17-016

330.6

333.2

3661.7

5186.9

-676.8

0.65

0.8

9C

SUG-17-017

221.5

231.6

3726.7

5125.2

-600.2

11.54

4.9

9B

SUG-17-018

221.1

221.8

3757.3

5123.7

-601.1

7.63

0.4

9B

SUG-17-900

298.0

306.1

4694.1

5137.3

415.5

5.08

6.2

8A

SUG-17-901

292.5

297.7

4634.1

5136.4

-436.0

4.13

3.4

8AFW

SUG-17-902

320.4

325.5

4604.9

5157.2

-475.5

21.89

3.0

8AFW

SUG-17-903

272.5

280.9

4659.2

5123.8

-403.4

4.08

5.4

8A

SUG-17-904

355.1

358.0

4667.9

5169.2

-490.6

6.40

1.6

8AFW

SUG-17-905

337.0

346.4

4616.5

5192.8

-491.1

0.75

6.5

8A

SUG-17-906

428.5

433.3

4730.3

5267.6

-530.2

11.42

2.4

8A


1 Midpoints of the intercept determined where mineralized structure intersected.

2 Gold values cut to 75 g/t.

 

Sampling and Analytical Procedures

All drill samples in respect of the Marigold mine drilling program were sent for processing and analysis to the offices of American Assay Laboratories, Inc. ("AAL") in Sparks, Nevada which is an ISO 17025 accredited laboratory independent from Silver Standard. Fire assay was completed on a 30-gram sample (AAL method code FA-PB30-ICP) with an Inductively Coupled Plasma ("ICP") finish after a two acid digestion.  Samples with assay results greater than 10 g/t gold were fire assayed on a 30-gram sample (AAL method code Grav Au30) with a gravimetric finish. We employ a rigorous Quality Assurance/Quality Control ("QA/QC") program, which includes real-time assay quality monitoring through the regular insertion of blanks, duplicates, and certified reference material, as well as reviewing laboratory-provided QA/QC data.

All drill samples in respect of the Seabee Gold Operation drilling program were assayed by our onsite non-accredited assay laboratory, which is not independent from Silver Standard. Duplicate check assays were conducted at site as well as at TSL Laboratories Inc. in Saskatoon, Saskatchewan, which is independent from Silver Standard. Results of the spot checks were consistent with those reported. Sampling interval was established by minimum or maximum sampling lengths and geological and/or structural criteria. Two hundred gram samples were pulverized until greater than 80 percent passes through 150 mesh screen. Thirty-gram pulp samples were then analyzed for gold by fire assay with gravimetric finish (0.01 grams per tonne detection limit).

Qualified Persons

The scientific and technical data contained in this news release relating to the Marigold mine has been reviewed and approved by James N. Carver, SME Registered Member and a Qualified Person under National Instrument 43-101 — Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Carver is our Chief Geologist at the Marigold mine. The scientific and technical data contained in this news release relating to the Seabee Gold Operation has been reviewed and approved by Jeffrey Kulas, P. Geo., a Qualified Person under NI 43-101. Mr. Kulas is our Manager Geology, Mining Operations at the Seabee Gold Operation.

About Silver Standard

Silver Standard is a Canadian-based precious metals producer with three wholly-owned and operated mines, including the Marigold gold mine in Nevada, U.S., the Seabee Gold Operation in Saskatchewan, Canada and the Pirquitas silver mine in Jujuy Province, Argentina. We also have two feasibility stage projects and a portfolio of exploration properties in North and South America. We are committed to delivering safe production through relentless emphasis on Operational Excellence. We are also focused on growing production and Mineral Reserves through the exploration and acquisition of assets for accretive growth, while maintaining financial strength.

For further information contact:
W. John DeCooman, Jr.
Vice President, Business Development and Strategy
Silver Standard Resources Inc.
Vancouver, BC
N.A. toll-free: +1 (888) 338-0046
All others: +1 (604) 689-3846
E-Mail: invest@silverstandard.com

To receive Silver Standard's news releases by e-mail, please register using the Silver Standard website at www.silverstandard.com.

Cautionary Note Regarding Forward-Looking Statements:

This news release contains forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking statements") concerning the anticipated developments in our operations in future periods, and other events or conditions that may occur or exist in the future. All statements, other than statements of historical fact, are forward-looking statements.

Generally, forward-looking statements can be identified by the use of words or phrases such as "expects," "anticipates," "plans," "projects," "estimates," "assumes," "intends," "strategy," "goals," "objectives," "potential," or variations thereof, or stating that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved, or the negative of any of these terms or similar expressions. The forward-looking statements in this news release relate to, among other things: our ability to discover and increase Mineral Resources and convert Mineral Resources to Mineral Reserves at the Marigold mine and the Seabee Gold Operation; our ability to extend the life of and increase operational flexibility at the Marigold mine and Seabee Gold Operation; future production of gold, silver and other metals; estimated production rates for gold, silver and other metals produced by us; ongoing or future development plans and capital replacement, improvement or remediation programs; and our plans and expectations for our properties and operations.

These forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation, the following: uncertainty of production, development plans and cost estimates for the Marigold mine and the Seabee Gold Operation; our ability to replace Mineral Reserves; commodity price fluctuations; political or economic instability and unexpected regulatory changes; currency fluctuations; the possibility of future losses; general economic conditions; counterparty and market risks related to the sale of our concentrate and metals; uncertainty in the accuracy of Mineral Reserves and Mineral Resources estimates and in our ability to extract mineralization profitably; differences in U.S. and Canadian practices for reporting Mineral Reserves and Mineral Resources; lack of suitable infrastructure or damage to existing infrastructure; future development risks, including start-up delays and cost overruns; our ability to obtain adequate financing for further exploration and development programs and opportunities; uncertainty in acquiring additional commercially mineable mineral rights; delays in obtaining or failure to obtain governmental permits, or non-compliance with our permits; our ability to attract and retain qualified personnel and management; potential labour unrest; the impact of governmental regulations, including health, safety and environmental regulations, including increased costs and restrictions on operations due to compliance with such regulations; reclamation and closure requirements for our mineral properties; social and economic changes following closure of a mine may lead to adverse impacts and unrest; unpredictable risks and hazards related to the development and operation of a mine or mineral property that are beyond our control; indigenous peoples' title claims and rights to consultation and accommodation may affect our existing operations as well as development projects and future acquisitions; assessments by taxation authorities in multiple jurisdictions; claims and legal proceedings, including adverse rulings in litigation against us and/or our directors or officers; compliance with anti-corruption laws and internal controls, and increased regulatory compliance costs; complying with emerging climate change regulations and the impact of climate change; fully realizing our interest in deferred consideration received in connection with recent divestitures; uncertainties related to title to our mineral properties and the ability to obtain surface rights; the sufficiency of our insurance coverage; civil disobedience in the countries where our mineral properties are located; operational safety and security risks; actions required to be taken by us under human rights law; competition in the mining industry for mineral properties; our ability to complete and successfully integrate an announced acquisition; an event of default under our convertible notes may significantly reduce our liquidity and adversely affect our business; failure to meet covenants under our senior secured revolving credit facility; conflicts of interest that could arise from certain of our directors' and officers' involvement with other natural resource companies; information systems security threats; and those various risks and uncertainties identified under the heading "Risk Factors" in our most recent Annual Information Form filed with the Canadian securities regulatory authorities and included in our most recent Annual Report on Form 40-F filed with the U.S. Securities and Exchange Commission ("SEC").

This list is not exhaustive of the factors that may affect any of our forward-looking statements. Our forward-looking statements are based on what our management currently considers to be reasonable assumptions, beliefs, expectations and opinions based on the information currently available to it. Assumptions have been made regarding, among other things, our ability to carry on our exploration and development activities, our ability to meet our obligations under our property agreements, the timing and results of drilling programs, the discovery of Mineral Resources and Mineral Reserves on our mineral properties, the timely receipt of required approvals and permits, including those approvals and permits required for successful project permitting, construction and operation of our projects, the price of the minerals we produce, the costs of operating and exploration expenditures, our ability to operate in a safe, efficient and effective manner, our ability to obtain financing as and when required and on reasonable terms and our ability to continue operating the Marigold mine and the Seabee Gold Operation. You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. We cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. Our forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and we do not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements

Cautionary Note to U.S. Investors

This news release includes Mineral Reserves and Mineral Resources classification terms that comply with reporting standards in Canada and the Mineral Reserves and the Mineral Resources estimates are made in accordance with NI 43-101. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ significantly from the requirements of the SEC set out in SEC Industry Guide 7. Consequently, Mineral Reserves and Mineral Resources information included in this news release is not comparable to similar information that would generally be disclosed by domestic U.S. reporting companies subject to the reporting and disclosure requirements of the SEC. Under SEC standards, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically produced or extracted at the time the reserve determination is made. In addition, the SEC's disclosure standards normally do not permit the inclusion of information concerning "Measured Mineral Resources," "Indicated Mineral Resources" or "Inferred Mineral Resources" or other descriptions of the amount of mineralization in mineral deposits that do not constitute "reserves" by U.S. standards in documents filed with the SEC. U.S. investors should understand that "Inferred Mineral Resources" have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. Moreover, the requirements of NI 43-101 for identification of "reserves" are also not the same as those of the SEC, and reserves reported by us in compliance with NI 43-101 may not qualify as "reserves" under SEC standards. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.

SOURCE Silver Standard Resources Inc.

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