Feasibility Study For Pitarrilla Project

 

VANCOUVER, BC - Silver Standard Resources Inc. reported an update for the Pitarrilla project in Durango, Mexico ("Pitarrilla"), including an updated mineral resources estimate for oxide and sulphide mineralization. Highlights: Contracted M3 Engineering to complete the Pitarrilla feasibility study. M3 has designed and built many mines in Mexico, including the Penasquito Mine.  Feasibility study on track for mid-year 2012completion.  Construction permit application on track for second-half 2012 Submission Feasibility design is being based on an open-pit mine and a 16,000 tonne per day plant with an agitated leach circuit producing a silver dore and a flotation circuit producing separate zinc and lead concentrates containing payable silver. Hired experienced project manager and key development and construction management personnel. Measured and Indicated mineral resources estimate of 655.7 million ounces of contained silver (at a 30 g/t silver cut-off grade).  Inferred mineral resources estimate of 65.0 million ounces of contained silver (at a 30 g/t silver cut-off grade). "Pitarrilla's mineral resources are significant and drive the potential for a long-life mine with strong annual silver production," said John Smith, President and CEO. "Our team has now settled on an open-pit design concept to optimize a larger amount of silver for the long-term benefit of our shareholders and stakeholders. This approach is consistent with our positive outlook on silver and our strategy of driving growth and value from our extensive 100% owned asset portfolio." The company's address is 999 West Hastings Street, Suite 1400, Vancouver, BC V6C 2W2, 604-689-3846, fax: 604-689-3847.