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Category:  Press » Miscellaneous

 

Como and Nivloc Projects show promise

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2008-04-24 07:49:50     
Silver Reserve Corp.

Silver Reserve Corp. is pleased to announce results of surface exploration and drilling on its Como Project near Carson City, Nevada and the Nivloc Project near Silver Peak, Nevada.

The Project Como consists of 224 claims covering a large portion of the Como and Pony Meadow fault structures.

Eleven holes were drilled on surface alteration and geochemical anomalies within the Pony Meadow fault structure. All 11 holes encountered thick intercepts up to 30 feet wide of weakly anomalous gold ranging from a trace to 0.03 ounces per ton gold in hole # 1. This weak but consistent gold mineralization indicates a large hydrothermal system about 4 miles long and 300 to 1000 feet wide. Drill holes # 8 thru # 11, did not encounter the Como/Pony Meadow structural intersection where substantial gold distribution should occur in this type of structure.

Surface sampling to the south taken from vein outcrops yielded the highest grades discovered on the property and ranged from .03 ounces to 0.29 ounces gold per ton. Follow up sampling is planned for late April to expand these anomalies which the Company suspects may be the 'Como/Pony Canyon' structural intersection.

On the Nivloc Project, the Company completed a 5-hole exploration drilling program in an effort to trace the extension of the vien from the Nivloc Mine and other viens with surface exposure. These holes stepped out a total of 2900 feet from the Nivloc mine main shaft. Veins in the old working tended to widen to depth and surface exploration indicate multiple veins are present along strike in the direction drilled. Hole # 3 encountered 15 feet of 0.034 opt gold and 1.9 opt silver from 130-150 feet. The hole was lost at 240 feet due to caving problems. Hole #5 intersected 30 feet with an average grade of 2.5 opt silver and .033 gold at a depth from 75 to 105 feet and a second interception of 15 feet from 375 feet to 390 feet with 5 feet grading 21 opt silver and average grade of 8.5 opt silver. The information from these holes is insufficient to determine the true width of the veins in the locations intersected.

Two additional core holes will be drilled in May of 2008 to further define the dimensions of the zone. The zone likely continues along strike beyond the 2900 feet at hole #5 for an unknown distance and high grade chutes are know to exist within the structure. Historical records indicate grades averaged .05 opt gold and 12 opt silver in the Nivloc mine.

Silver Reserve Corp. is a public exploration stage mining company focused on exploring and developing precious and base metals in the Western United States. The company's strategy is to acquire significant land positions by staking, option, lease or purchase with positive mineral potential for future mine development. With forecasts showing the demand for precious metals on the increase, Silver Reserve Corp. is positioning itself to capitalize on this potential as a company committed to moving forward with active exploration programs wherever and whenever they present themselves.

For more detail on the projects not described above please visit our website at http://www.silverreservecorp.com

FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other ecological data, fluctuating metal prices, the possibility of project cost overruns of unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates of opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

Cautionary Note to US Investors - The United States Securities and Exchange Commission (SEC) limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. The reader is cautioned that the term, "resource," is not a term that is recognized by SEC guidelines for disclosure of mineral properties. Generally, "resources" estimates do not rise to the level of certainty required by SEC guidelines. The mineralized material described above is not considered a "reserve" as that term is used in the mining industry and in SEC disclosure guidelines. The Company must undertake a feasibility study before it can estimate the value of its mineral assets. U.S. investors are urged to consider closely the disclosure in our Form 10-KSB, File # 000-52641. You can review and obtain copies of these filings from the SEC's website at http://www.sec.gov/edgar.shtml.

Specialized in: Como - Nivloc
URL: http://www.sec.gov
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