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Silver Standard Resources Inc. (TSX:SSO,NASDAQ:SSRI) announced that it has expanded the mineral resource at its Marigold mine in Nevada.
Silver Standard Resources Inc. (TSX:SSO,NASDAQ:SSRI) announced that it has expanded the mineral resource at its Marigold mine in Nevada.
As quoted in the press release:
These Mineral Resources lie within the limits of Marigold’s existing plan of operations at the southern end of the 8 South pit and are comprised of oxidized gold mineralization, leachable using the current run-of-mine heap leach process. The 8 South pit extension currently contains Indicated Mineral Resources of 2.13 million tonnes at a grade of 1.20 grams per tonne gold and Inferred Mineral Resources of 1.70 million tonnes at a grade of 1.41 grams per tonne gold. The gold mineralization is open to the south, east and west. The grade of these Mineral Resources compares favourably to the Marigold mine average reserve grade of 0.51 grams per tonne gold.
John Smith, president and CEO of Silver Standard, said:
Exploration efforts at Marigold continue to deliver positive results. Our goal was to confirm our understanding of the geology and to identify extensions to existing pits for higher margin ounces. The results of our 2014 drill program have exceeded our expectations due to the gold grade encountered and the proximity to the historical 8 South pit.
Click here to read the full Silver Standard Resources Inc. (NASDAQ:SSRI,TSX:SSO) press release.