CALGARY, ALBERTA--(Marketwired - Jul 10, 2014) - Silver Mountain Mines Inc. (TSX VENTURE:SMM) ("Silver Mountain" or the "Company") is pleased to announce the commencement of its 2014 exploration field program at its wholly-owned Ptarmigan Mine property located near Radium, British Columbia (the "Property").
The 2014 exploration field program will include further gravity surveys in the Ptarmigan basin and an estimated 3,200 metres 2014 diamond drill program to test and confirm mineralized depth. The area surrounding the Property hosts an abundance of documented former producing mines, including the Mineral King, Blue Bell and Paradise Mines. The Company believes that currently identified mineralization could include both polymetallic Ag-Au-Cu-Pb-Zn veins and Ag-Au-Pb manto style mineralization.
Management's 2014 goal is to better define and increase both size and potential of the Ptarmigan Basin using all compiled data with updated interpretations from its 2012 and 2013 programs to strategically plan its 2014 exploration program.
Key highlights from prior programs (http://www.silvermountainmines.com/news.asp) in the Ptarmigan Basin to date include:
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A gravity survey that defined numerous gravity anomalies (previously released on January 22nd, 2014)
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At least two fault zones have been identified, hosting high grade Ag+/-Au+/-Cu+/-Pb+/- Zn mineralization with strike length of at least 1.4 km trending north-northeast from the Iron Cap through the Upper Ptarmigan and Ptarmigan Mine to the Dunwalk and then on to the North Ridge (http://www.silvermountainmines.com/maps.asp).
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The most significant mineralized zones tested by the 2012 drill program were in the Ptarmigan Mine area and a mineralized fault structure in the East Ptarmigan area. Drill result highlights include: 1,576 grams per tonne (g/t) silver (Ag) and 0.74 g/t gold (Au) over 0.6 metres (m) in PT 12-72; 433g/t Ag and 0.54 g/t Au over 1.4 m, including 666 g/t Ag and 0.79 g/t Au over 0.9 m in PT12-74; and, 9,680 g/t Ag and 8.48 g/t Au with 4.22% copper (Cu) over 0.3 m in PT12-75 (previously released, November 15th, 2012)
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Other drill intercepts includes: 452 g/t Ag over 6.8 m; 839 g/t Ag over 2.9 m; 1,642 g/t Ag over 1.1 m; and, 4,806 g/t Ag and 6.99 g/t Au over 0.3 m. (previously released on October 16, 2012)
The Company also announces that Mrs. Sandra Beaulieu has replaced Daryn Gordon as CFO. The Board of Directors and Management wish to thank Daryn for his valuable contributions and wish him success in his future endeavors. Mrs. Beaulieu is a Certified General Accountant with more than 20 years of experience working with junior public companies. Mrs. Beaulieu presently provides CFO and accounting services to several TSX Venture Exchange listed companies.