Toronto, Ontario, June 19, 2012: Canadian Silver Hunter Inc. (the “Company”) (TSX-V:AGH) is pleased to release final results of recent drilling at the Keeley-Frontier Silver project in South Lorrain Township. The Company completed a six hole 2058 metre drill program on the Keeley-Frontier project in February 2012. Final assays results including infill sampling, second lab check assaying and screen metallic assaying have now been received and compiled. Initial results were announced on April 3, 2012. Significant silver-bearing zones were intersected in four of the six holes.
Diamond drill hole CSH12-03 returned significant silver values between 111.0 and 122.3 metres downhole, including the following screen metallic assays:
- 1517.0 g/tonne over 0.3 metres
- 479 g/tonne over 0.4 metres
- 91 g/tonne over 0.3 metres
The entire interval starting at 111.0 metres returned a composite silver value of 72.47 g/t Ag over 11.3 metres, including 168.22 g/t over 4.2 metres, with no individual silver assay below 2.4 g/t. This zone appears to be related to a new silver-bearing structure, hence the geometry is unknown, and true thickness cannot be determined. Surface prospecting is currently underway in the vicinity of CSH12-03. Historical information indicates that no drilling has been done in this area, and only one 1920’s era exploration drift extended close to this area (eighth level- # 40 vein).
As well, anomalous silver, cobalt and copper values occur throughout the upper portion of CSH12-03 associated with faulting, lamprophyre dykes and syenite bodies.
President and CEO of Canadian Silver Hunter Jeff Hunter states: “We are really pleased with the way the first phase drill program went, with significant silver values located along a number of structures, some of which are relatively close to surface. The high silver values intersected in hole CSH12-03 are in a previously unmapped, unexplored structure that we will be focusing on as part of the 2012 summer program.
Other highlights include:
- CSH12-04 returned a composite silver assay of 25.9 g/tonne over 4.3 metres, starting at 254 metres downhole. These results appear to correlate to the north extension of the Beaver Lake Fault.
- CSH12-05 returned a composite silver value from the Beaver Lake Fault of 398.42 g/tonne over 1.9 metres, however 0.9 metres of this intersection was lost core or void due to the hole intercepting what is interpreted to be old workings at 258.8 metres downhole.
- CSH12-06 was drilled to test within 25 metres below and west of CSH12-05 in order to avoid the historic drift/stope area and returned a composite silver value of 58.21 g/t over 0.95 metres.
Phase II Exploration Program
Follow-up drilling is warranted, based on the above results. The near surface discovery of widespread silver values in CSH12-03 will be explored on surface in July-August using an excavator. Additional areas for surface sampling and multi-element assaying are being evaluated by ongoing geological mapping. This work will aid in correlating numerous collapsed trenches on surface with silver-copper-cobalt-bismuth-nickel bearing structures outlined by recent drilling.
Priority for phase II drilling will focus on defining the extent and geometry of the new zone in CSH12-03, and will begin as soon as surface work and additional historic data can be compiled into the Gemcom model.
Project Logistics and QA/QC
All analyses reported in this release are from assay certificates which passed both Canadian Silver Hunter, AGAT Laboratories, and ALS Chemex QA/QC procedures.
All drill core was logged at Canadian Silver Hunter’s core shack facility in North Cobalt, Ontario. Samples were split and sent for aqua regia digestion and multi-element (including Ag, Co, Ni, Bi, Sb) analysis (ICP-OES finish) at AGAT Laboratories Ltd. in Mississauga, Ontario. The drill program was carried out under contract by Laframboise Drilling Inc. of Earlton, Ontario, managed by JVX Ltd, and supervised by David R. Jamieson, P.Geo and Dean R. Cutting, P.Geo.
AGAT is a fully accredited laboratory and conforms with the requirements of CAN-P-4E (ISO/IEC 17025:2005) and CAN-P-1579 by the Standards Council of Canada. AGAT Laboratories provides delivery of split core samples from the Canadian Silver Hunter core shack in North Cobalt, to the preparation lab in Sudbury, Ontario. Analysis is performed at AGAT facilities in Mississauga, Ontario. QA/QC programs include the use of standard and blank samples inserted into the assay stream by Canadian Silver Hunter personnel every 25 samples in addition to the lab’s internal QA/QC programs. Samples assaying greater than 100 g/t Ag are fire assayed with a gravimetric finish. QA/QC also included sending selected pulp samples for check assays at an independent lab (ALS Chemex) using both four acid (MEMS-61) and aqua regia (MEMS-41) digestions for multi-element analysis.
Selected higher grade silver and several random sample rejects were chosen for screen metallic analysis for silver only, at AGAT Laboratories. A final silver number for the database and this press release was arrived at by averaging geochemical values; geochemical values were replaced by fire assay or screen metallic analyses when available. QA/QC results indicate that the AGAT aqua regia digestion and multielement analytical procedures used on this program are reliable. Screen metallic assaying is required to more accurately quantify silver values in higher grade portions of the mineralized zones due to the presence of coarse native silver.
A table of drilling information will soon be posted on the company web site soon at www.canadiansilverhunter.ca.
Mr. Gerald Harron, P.Eng., is the “Qualified Person” under NI 43-101 and has reviewed the technical information contained in this news release.
About Canadian Silver Hunter
CSH is a junior mineral exploration company focused primarily on the identification, evaluation, acquisition and exploration of mineral properties. CSH holds a 100% interest in the prolific past producing Keeley Frontier project, located in the South Lorrain Township, Larder lake Mining Division, Ontario. CSH’s current focus is on the exploration of the Keeley Frontier project for silver, cobalt and nickel deposits.
For further information please contact:
Canadian Silver Hunter Inc.
President and CEO
Tel: (416) 707 4230
CAUTIONARY STATEMENT: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This News Release includes certain “forward-looking statements”. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company’s mineral properties, and the Company’s financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.