International Silver Inc. Acquires Additional Claims Adjacent to Prince Mine
14 Dezember 2010 - 3:30PM
International Silver Inc. (OTCQB:ISLV) is pleased to announce that
it has acquired 35 additional mining claims comprising 690 acres
through staking adjacent to the historic Prince Silver Mine in
Lincoln County, Nevada, U.S.A. which the Company has under option
for acquisition. The claims are divided into two blocks on trend
with the CM mineralized bed which begins on the Prince Mine
property in the Pioche Mining District of Lincoln County,
Nevada. The first block comprises 330 acres which lies along
the southern and southwestern projections of the silver lead-zinc
replacements of the Prince Mine. The second block is comprised
of 360 acres adjacent to the westward extension of the highly
productive Caselton silver-lead-zinc-gold replacement channel also
adjacent to the Prince Mine. Targets in this area consist of silver
replacement mineralization along structural intersections primarily
developed in the Combined Metals Limestone Unit of the Cambrian
Pioche Shale. Previously mined replacements on the Caselton
structural trend are known to have grades averaging 4.9 ounces of
silver per ton, 4% lead, 12 % zinc and 0.04 ounces of gold per ton.
The Prince Silver Mine, held under option by International
Silver Inc., is a former producer of silver, gold, lead, zinc and
manganese sulfide and oxide ores. Past production from
the mine which was last operated in 1951 amounts to 3.6 million
ounces of silver, 68 million pounds of lead, 110 million pounds of
zinc and 17 thousand ounces of gold from 1.2 million tons of ore.
Past production was from both underground and surface
operations which exploited bedded replacements of limestone units
within the Cambrian stratigraphic section. Mineralization as
presently exposed in the mine appears to be relatively uniform
although displaced by faulting and is found to occur extensively in
numerous horizons. The average grade mined from these replacements
was 2.9 opt silver, 0.014 opt gold, 2.8 % lead, 4.5 % zinc and 8.5%
manganese. An independent engineers' report on the mine
indicates that a geologic resource of at least 1.8 million tons of
mineralization with similar grade and continuity is present within
the previously developed mine area. Independent sampling by
International Silver geologists has confirmed the reported grades
of previously mined ore, however, a full exploration program is
required to establish reserves that conform with SEC reporting
requirements.
The Company objective is to confirm, by drilling, an open pit
resource of approximately 15 million tons of near surface oxidized
mineralization at similar grades and to confirm by metallurgical
testing of the cores collected during drilling that the ore is free
leaching with acid and amenable to solvent extraction and
electro-winning of zinc (to produce special high grade cathode
zinc) and manganese (EMD-electro-manganese dioxide). Silver
and lead will become insoluble sulfates in the leaching process and
will be treated as a high grade lead-silver-gold concentrate.
International Silver Inc. is a publicly traded exploration and
mine development company whose properties are located in North
America, principally in the United States and Mexico. It
currently holds the Leviathan Mine in the Calico Mining District of
San Bernardino, California which is comprised of 60 unpatented
mining claims (1,242 acres) and hosts three previously worked
silver deposits, the Silverado, the Leviathan and the Silver Bow
mines.
International Silver also wholly owns a Mexican subsidiary which
holds three adjacent mining properties, the El Cumbro, El Cusito
and Canada del Oro properties in the Sierra Madre gold belt of
southern Sonora State and the La Moneda precious metals property
located near Puerto Libertad on the Gulf of Cortez, also in
Sonora.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND
RISKS
Some of the statements in this press release are forward-looking
statements and are based on our current expectations, assumptions
and estimates. Forward looking statements carry certain risks
regarding an assumed set of economic conditions and courses of
action, including: (a) whether International Silver, Inc. ("the
Company") will be able to obtain sufficient financing to continue
to meet its operational goals; (b) the Securities and Exchange
Commission ("SEC") permits companies engaged in exploration or
mining activities to file reports with the SEC to disclose only
those mineral deposits that a company can economically and legally
extract or produce and views such representations with a great
amount of uncertainty; and (c) other risk factors and matters
disclosed in the Company's SEC filings, including its Form 10-K for
the period ending December 31, 2009 and its S-1 registration
statement, both of which may be accessed at www.sec.gov. No
information contained in this press release should be construed as
a representation or indication, in any manner whatsoever, of the
present or future value of the Company or its common
stock. Readers of information contained in this press release
should carefully review the Company's filings with the SEC that
contain important information regarding the Company. The
Company disclaims any responsibility to update forward looking
statements made herein.
CONTACT: International Silver Inc.
Matthew J. Lang, Vice President Administration &
Investor Relation
(520)889-2040 ext. 10
mlang@internationalsilverinc.com
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