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Silver Standard Resources reports gold zone at Snowfield Project in BC continues to expand

Published: 21:03 30 Sep 2010 BST

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Silver mining company Silver Standard Resources (TSX: SSO)(NASDAQ: SSRI) said Thursday that ongoing diamond drilling of its Snowfield project in British Columbia has continued expanding known mineralization to the south.

Most of the new mineralization is in areas previously classified as waste in the company's preliminary assessment announced earlier this month, it said.

Several step-out drill holes expanded the gold-copper phase of the mineralization to the southeast by approximately 450 metres. Highlights include hole MZ-111, which interesected 109 metres from surface, averaging 0.72 grams of gold per tonne and 0.50% copper, including 48 metres averaging 1.09 grams of gold per tonne and 0.91% copper.

Six step-out holes also extended the gold-molybdenum mineralization by up to 300 metres to the south. Hole MZ-113 intersected 78 metres averaging 0.98 grams of gold per tonne and 0.04% copper. In addition, MZ-114 returned 182 metres from surface, averaging 0.56 grams of gold per tonne and 0.04% copper, including 48 metres averaging 0.79 grams of gold per tonne and 0.03% copper from surface.

The drilling, part of an initial 42,000-metre program of infill and step-out drilling on the Brucejack and Snowfield projects, has expanded to over 48,000 metres, including 17,976 metres completed on the Snowfield property.

Snowfield currently hosts measured and indicated gold resources of 22.04 million ounces and inferred gold resources of 10.99 million ounces, along with resources in copper, silver, molybdenum and rhenium. The company is anticipating the completion of a new resource estimate in the first half of next year.

The wholly-owned Snowfield project is located 65 kilometres north of the town of Stewart in British Columbia, Canada.

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