HILTON HEAD, S.C., Nov. 1, 2011 — Silver Scott Mines, Inc. (OTC:SILS.pk) is pleased to announce the following recently received drill assay sample results from the Carmen Project located near Moctezuma, Sonora Mexico. The company’s two concessions control approximately 1500 hectares of land covering the Carmen mine site. A total of 422 meters of small air track type drilling was recently completed in a 33 drill hole shallow drill program.
|Drilling Results Highlights (Au equivalent calculated in g/t at 60:1)|
|VCB-7 9 m with 0.66 g Au/t and 59 g Ag/t or 1.64 g Au equiv./t.|
|VCB-10 18 m with 0.42 g Au/t and 43 g Ag/t or 1.14 g Au equiv./t.|
|VCB-13 10.5 m with 0.36 g Au/t and 10.3 g Ag/t or 0.53 g Au equiv./t ending in 0.65 g Au/t.|
|VCB-14 4.5 m with 0.29 g Au/t and 31.0 g Ag/t, or 0.83 g Au equiv./t, ending in 0.60 g Au/t|
|VCB-16 15 m with 0.35 g Au/t and 43 g Ag/t,, or 1.07 g Au equiv.|
|VCB-20 9 m with 0.54 g Au/t and 15.7 g Ag/t, or 0.80 g Au equiv.|
|VCB-27 9 m with 0.76 g Au/t and 15 g Ag/t or 1.01 g Au equiv., ending in 0.85 g Au/t|
|VCB-29 8 m with 0.78 g Au/t and 244 g Ag/t, or 4.85 g Au equiv., ending in 0.66 g Au/t.|
|VCB-30 18 m with 0.94 g Au/t and 87 g Ag/t, or 2.39 g Au equiv.|
|VCB-32 21.0 m with 1.24 g Au/t and 269.1 g Ag/t or 5.72 g Au equiv./t|
|VCB-33 7.5 m with 0.55 g Au/t and 139.2 g Ag/t, or 2.87 g Au equiv./t|
Reported intercept lengths are considered to near true widths with near vertical drill holes. Drill holes 14, 16 and 29 through 35 were drilled at 60 degrees from horizontal and thus have true widths of about 86 percent of reported lengths cutting across a nearly horizontal body.
Drill holes 11 and 15 were lost without recovery. Three drill holes of four completed in the south road cut did not intersect significant values, while VCB-22 of that group cut, in the top 6 meters, 0.29 g Au/t with 5 g Ag/t. Another nine drill holes ended at shallow depths unable to penetrate capping of broken volcanics above the target zone, but intersected anomalous values of gold and silver in this cap.
Historically, the mine site previously was explored by Geomaque who completed in 1997 six percussion drill holes in the mineralized zone where evidence of older tunnel work consists of three adits of short length. Mineralization occurs as a low to intermediate sulfidation where silver-gold is accompanied by lead and zinc. The mineralized body is defined as a nearly flat lying 22 meter thick body of pyritized and silicified breccias in dacite following a low angle fault zone. Those earlier 6 downhole hammer percussion drill holes are located within a 200 meter long by 100 meter wide outcrop zone. Lead, zinc, and irregular copper also occur within the zone. Historic intercepts in vertical drill holes include ATC-3 with 21 m of 1.013 g Au/t 74 g Ag/t (Au equiv. 2.25 g/t), ACT-4 with 22 m 0.405 g Au/t and 32 g Ag/t (Au equiv. 0.934 g/t), and ACT-5 with 22 m 0.314 g Au/t, and 48 g Ag/t (Au equiv. 1.114 g/t.).
The current drilling was completed with a normal percussion air track drill capable of 30 meters depth with above ground percussion. Several of the drill holes were lost and others were not completed to targeted depths stopping short of cutting the mineralized zone identified by previous drilling. Future drilling will utilize deeper penetrating reverse circulation equipment to more fully explore the mineral potential.
The nearest mines are the following: located 40 kms to the south is the closed Lampazos silver mine operated by Frisco Mining from 1975 through 1995 (25 million oz Ag); 100 km to the north is the open pit copper mine of La Caridad operated by Grupo Mexico; and to the northwest about 70 km is the Santa Elena Mine newly started by Silvercrest.
Analyses were delivered to Laboratorio Technologico Metalurgico SA de CV (LTM) in Hermosillo, Sonora Mexico for standard preparation and 1 assay ton standard fire assay followed by atomic absorption finish. Standards of gold and silver content were inserted in the group of samples with blanks and duplicates. The LTM metallurgical laboratory, although uncertified by lacking a NI-43-101 required QP, the lab is operated by experienced and qualified Hector Diaz, a former 17 year professor at University of Sonora with professional experience in heap leach operating mines. He also conducts teaching seminars relating to metallurgy in heap leaching operations and also has associated publications.
Mel Herdrick, Chief Geologist for the company commented, “We expect to find additional favorable results from Carmen as which will continue to expand the mineralized zone. We can trace the mineralized zone over a rectangular area of 100 meters width and 300 meters length and expect that this mineralization can be more fully defined. Our goal, in line with our overall corporate strategy, is to explore, define, and initiate production of gold and silver by heap leach mine processing and continue to expand with operation.”
For further information please contact:
Silver Scott Mines, Inc.
Mark A. Fralich
Silver Scott Investor Relations
The source of this news release is Silver Scott Mines, Inc. This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate.