Replies to post #478461 on Zeev's Turnips Patch-No Politics (ZEEV)

[ayahuasca]

SSRI has held up fairly well in the metals correction. I think it's important in the near term to hold at least the 17.50 level otherwise I fear we may see the high 15's.

[basserdan]

*** Silver related post (SSRI) ***


Silver Standard Extends South Ridge Zone at Pitarrilla Silver Project in Mexico; Intercepts High Grade at Depth

Monday June 12, 7:30 am ET

VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jun 12, 2006 -- Silver Standard Resources Inc. (TSX:SSO.TO - News)(NasdaqNM:SSRI - News) is pleased to report that a step-out vertical hole drilled in the northeast region of the South Ridge Zone at the Pitarrilla silver project in Mexico continues to expand the eastern flank of mineralization. Hole PD-140 was drilled approximately 50 meters to the north of PD-131 and PD-136 reported June 1, 2006.

Highlights of PD-140's mineralization include:

- A massive sulphide intersection of 11.5 feet averaging 26.63% zinc, 1.56% lead and 17.1 ounces of silver per ton (3.5 meters averaging 585.8 grams of silver per tonne), within 61.0 feet averaging 6.62% zinc, 0.41% lead and 4.2 ounces of silver per ton (18.6 meters averaging 144.8 grams of silver per tonne);

- 500.0 feet averaging 1.9 ounces of silver per ton (152.4 meters averaging 65.77 grams of silver per tonne);

These results point to the potential for a massive sulphide feeder system under the volcanic pile which to date has only been tested by a few holes, including the previously reported PD-128 collared 325 meters to the northwest. Drilling continues to intersect a thick sequence of mineralized volcanic material (tuffs, breccias and rhyolitic intrusives) overlying cretaceous sediments. Drilling is continuing with three diamond drill rigs now on site. Kenneth C. McNaughton, M.A.Sc., P.Eng., vice president, exploration, Silver Standard Resources Inc., is the qualified person responsible for the exploration program at Pitarrilla.

 
 Selected Pitarrilla Diamond Drilling Results - June 2006 
 South Ridge Zone 
  
                                     Inter-             Sil- 
                          From    To   val   Sil-Inter- ver 
 Hole               Dip/  (met- (met- (met-  ver   val (oz./ Zinc Lead 
 No.   Location Azimuth    ers)  ers)  ers) (g/t)(feet) ton)    %    % 
  
 PD-140 504427E      90   39.6 192.0 152.4  65.8 500.0  1.9 
       2810966N degrees/ 234.2 252.8  18.6 144.8  61.0  4.2  6.62 0.41 
                      0 
                degrees 
              including  234.2 237.7   3.5 585.8  11.5 17.1 26.63 1.56 
 

Notes: Intervals do not denote true thickness, which is to be determined. Kenneth C. McNaughton, M.A.Sc., P.Eng., and vice president, exploration, Silver Standard Resources Inc., is the Qualified Person (QP) responsible for the Pitarrilla exploration program and has verified the data in the table above. All assays were submitted for preparation and analysis by ALS Chemex at its facilities in Chihuahua, Mexico (preparation) and Vancouver, B.C. (analysis). All samples were analyzed using three acid digestion with ICP finish. Samples over 100 grams were reanalyzed using four acid digestion with an ore grade AA finish. Samples over 1,000 grams were fire assayed with a gravimetric finish.

http://biz.yahoo.com/iw/060612/0134952.html