San Agustin is a wholly-owned project, located approximately 100 kilometers northeast of the city of Durango, Mexico. The mineral concessions were acquired in 2003 through staking. It is easily accessible year-round. Gold on the property is associated with disseminated and veinlet pyrite mineralization that has been oxidized within 50 meters of surface. The mineralization is hosted by subvolcanic intrusive rock that was emplaced into an older sequence of folded and fractured metasedimentary rocks. Gold is commonly accompanied by minor amounts of silver and zinc.
An NI 43-101 Technical Report on the San Agustin property was prepared in March 2009. Highlights of the Project include the following:
- Mineral resources: Indicated Mineral Resources were estimated at 121.0 million tonnes with an average grade of 0.41 g/t gold, 12.3 g/t silver and 0.49% zinc. The contained metal in this category amounts to 1.59 million ounces of gold, 47.8 million ounces of silver and 1.31 billion pounds of zinc. Inferred Mineral Resources were estimated at 91.2 million tonnes with an average grade of 0.36 g/t gold, 12.6 g/t silver and 0.48% zinc.
- 2010 Geophysical surveying program: In 2010, Silver Standard completed a comprehensive program of geophysical surveying on the property. New drill-targets were identified in the immediate vicinity of the known Au-Ag-Zn resources as well as in areas where bedrock exposures are sparse.
- 2012 Exploration: The fieldwork completed in 2012 involved the re-logging of existing drill cores, the collection of bulk density measurements for hundreds of core samples, and the collection of several hundred core samples that were analyzed for their mineral compositions using a spectral mineral analyzer.
Jeremy D. Vincent, B.Sc. (Hons), P.Geo., a Qualified Person as defined in NI 43-101, has approved the foregoing disclosure on the San Agustin Project. Please refer to the technical report entitled "San Agustin Resource Estimate" dated March 30, 2009, a link to which is provided above.
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