HIGH GRADE ASSAYS FROM GRAB SAMPLES RANGE INCLUDING: 308 g/t Ag (9.00 oz/T Ag) & 12,346 g/t Ag (360.85 oz/T Ag) FROM GEOCHEMICAL SAMPLING ON ITS PTARMIGAN PROPERTY
DECEMBER 4, 2012, Calgary, Alberta - Silver Mountain Mines Inc. (TSX-V:SMM) (“Silver Mountain” or the "Company") is pleased to report the results of its soil, silt and rock sampling completed during the 2012 exploration program on its 100% owned Ptarmigan Property near Radium, British Columbia (the “Property”). The program continued the Company’s geochemical initiative to identify new, and extend known, mineralized areas on the Property having potential for high grade, silver-bearing vein and semi-massive to massive pyrite-enriched, manto-style mineralization.
The 2012 rock, soil and silt geochemical sampling program on the Ptarmigan Property resulted in several significant Gold (“Au”), Silver (“Ag”), Copper (“Cu”), Lead (“Pb”) and Zinc (“Zn”) anomalies that warrant follow-up work in 2013.
Noteworthy 2012 analyses include a grab sample that ran 12,346 grams per tonne (g/t) Ag, 6.91 g/t Au and 6.23% Cu collected from float in a talus chute west of the Ptarmigan Mine identifying greater mineralization potential. Additional outcrop sampling of the North Ridge and West Vein area returned values ranging from 29 g/t Ag to 1,376 g/t Ag and 1.83 g/t Au, 0.767% Cu and 3.81% Pb. This area lies along the projected trend of a series of northwest trending faults which pass through the Ptarmigan Mine area (see Fault Mineralization Map @ http://www.
silvermountainmines.com). In particular, the Adit #3 fault extends north from the Iron Cap Trend through the Upper Ptarmigan Zone, the Ptarmigan Mine and may extend north to the West Vein. Mineralization has been identified and associated with a north-trending fault system, over a horizontal distance of 1,400 meters (m) from north to south, a vertical thickness of 250 meters and remains open along strike and to depth.
Historical high grade, silver-bearing vein and manto-style mineralization was mined in the Ptarmigan Mine area with known production from Adit #3 reported at 520 Tons (“T”) with silver-rich ore grades averaging 77 oz/T of (Ag). Mineralization is hosted in interconnected and irregular veins with silver-bearing minerals; silver sulphides, argentiferous galena and sulphosalts in quartz of large pods or pyritic lenses with tetrahedrite.
The 2012 sampling program resulted in recovery of a total of 304 soil, 25 silt and 94 rock samples from three main areas on the Ptarmigan Property; the McDonald, Gopher and Law Creek drainages. The following is a tabulation of anomalous rock samples recovered during 2012 (see 2012 Geochemistry Sampling Map @ http://www.