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Silver Standard intersects high Grade Silver Mineralization at the Pirquitas Mine

Silver Standard Resources Inc. (NASDAQ: SSRI) (TSX: SSO) ("Silver Standard") is pleased to announce that it has completed the underground drilling program beneath the San Miguel open pit at its Pirquitas mine in Argentina. High grade silver mineralization was intersected on all three veins explored, known as Chocaya, Oploca North and Oploca South.

 

Selected Drillhole Highlights:

Mineral Resources extension drilling from underground intersected high grade mineralization on three vein structures.

  • Chocaya: PUG-12 intersected 1,436 grams per tonne silver and 0.5% zinc over 3.2 metres true width.
  • Oploca North: PUG-03 intersected 1,890 grams per tonne silver and 7.5% zinc over 1.9 metres true width.
  • Oploca South: PUG-04 intersected 2,670 grams per tonne silver and 1.3% zinc over 0.8 metres true width.

Paul Benson, President and CEO said, "We are encouraged by these results, which increase the potential that a small underground operation supplying a high grade feed to the Pirquitas processing facility would be economic to develop. We have commenced an engineering study to assess the feasibility of an underground mine and expect results early next year."

Mineral Resources Extension Drilling:

The underground drill program at the Pirquitas mine is targeting the expansion and upgrade of Mineral Resources underlying the San Miguel open pit. The Chocaya vein is exposed in the San Miguel open pit while the Oploca North and Oploca South veins occur directly to the south of the pit. The underground drilling on these three veins was performed from the existing underground workings. All veins remain open laterally and at depth.

During the program, 41 drillholes were completed from underground drill stations.

Next Steps

An engineering study is being undertaken to evaluate the potential to exploit this mineralization from underground. The results are expected in early 2016.

Sampling and Analytical Procedures

All drill samples in respect of the program were sent for processing and analysis to the offices of SGS Laboratories in San Juan, Argentina and Lima, Peru, and to ALS Global in Mendoza, Argentina and Lima, Peru. Both labs are independent from Silver Standard. All samples were analyzed using four acid digestion followed by 34 element atomic emission Inductively Coupled Plasma (ICP) spectroscopy. Over limit silver (greater than 100 grams per tonne) and zinc (greater than 10%) grades were re-analyzed using a four acid digestion with an atomic absorption spectroscopy finish. Silver grades still over limit (i.e., greater than 1,500 grams per tonne) were analyzed by fire assay 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.

Qualified Person

The scientific and technical data contained in this news release has been reviewed and approved by Carl Edmunds, P.Geo., a Qualified Person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and our Chief Geologist.

Source: Silver Standard Resources, Inc.

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