SRM Shear Diamonds Ltd.

Huldra Silver Inc. (TSX VENTURE:HDA) (the "Company" or "Huldra") today is
pleased to provide the initial results from the 2011 exploration program at
Treasure Mountain. The results of assays from the first four holes received
included 592.92 grams per tonne Ag, 4.28% Pb, 2.47% Zn and 5.80% Mn in hole
TM11-9 that intersected the vein structure below the Level 1 drift,
approximately 80 metres east of the Level 2 drift.


Summary of significant drill results (lengths are not considered true width):



----------------------------------------------------------------------------
                          Length         Ag         Pb    Zn        Ag    Mn
Hole #       From     To     (m)  (ozs/ton)        (%)   (%) (g/tonne)   (%)
----------------------------------------------------------------------------
TM11-6      25.25  25.45    0.20      33.75       8.99  0.46      1050  4.04
----------------------------------------------------------------------------
TM11-7      27.53  27.73    0.20      19.90       6.65  3.53     619.0  5.67
----------------------------------------------------------------------------
TM11-9      65.67  68.78    3.11      17.38       4.28  2.47     592.9  5.80
----------------------------------------------------------------------------
TM11-10     41.90  42.25    0.35       0.01      16.58  3.30      0.50  2.85
----------------------------------------------------------------------------



51 diamond drill holes were drilled over a total length of 5,073 metres on the
main mine development, with the objective of further defining resources on the
upper 150 metres of the mine.


Jensen Portal

The Jensen Portal is 400 metres west of the current underground workings.
Surface sampling was conducted on vein exposures uncovered during the road
rehabilitation program. 10 NQ sized diamond drill holes were completed to test
for strike on the structures. The area has had limited modern exploration
conducted on it and any information is prior to the implementation of National
Instrument 43-101 ("NI 43-101"). The veins were historically reported being
brecciated with Ag, Pb, and Zn and covered by a diorite cap. The location of the
small underground workings is coincident with two intersecting faults. A drill
program is being designed to follow up on historical results.


JK Vein

The JK vein was discovered during a trenching program late in the 2010
exploration program. Two shallow holes were drilled on the western end of the
structure. However, the material was partially oxidized close to surface. 8 NQ
sized holes over a total length of approx 890 metres were drilled in 2011 with
results still pending.


D-Vein

The following results were from surface chip samples taken from the D-vein:



--------------------------------------------------------------
             Width          Ag     PB     ZN         Ag     Mn
Sample#        (m)   (ozs/ton)    (%)    (%)  (g/tonne)    (%)
--------------------------------------------------------------
DV-1           1.2        0.18   0.02   0.06        5.8   0.72
--------------------------------------------------------------
DV-2           0.5        3.34   0.35   0.29        104   2.68
--------------------------------------------------------------
DV-3           0.6       19.54   7.66   0.89        608   5.71
--------------------------------------------------------------
DV-4          0.18        6.81   2.46   0.09        212   5.37
--------------------------------------------------------------
DV-5          0.38        8.41    0.3   2.47        261   8.63
--------------------------------------------------------------
DV-6           0.4       29.77   9.37   7.93        926    4.8
--------------------------------------------------------------
DV-7           0.3       30.70  12.85   1.08        955  11.42
--------------------------------------------------------------
DV-8          0.33       47.51  33.65   0.78       1478   3.71
--------------------------------------------------------------



The D-vein was previously uncovered 20 metres into the hanging wall of the open
cut at the top of Treasure Mountain. However, the surface expression was
re-exposed during mechanical scaling. 8 samples were taken across the structure
over a total length of 107 metres. The D -vein is not included in the current NI
43-101 resource estimate.


Underground Exploration

Underground sampling is progressing with new samplings from the existing drifts
on Level 1 and Level 2 as well as the underground raises. There are 3 complete
raises being sampled from Level 1 of the mine to the surface as well as 3
partial raises from Level 1. There are 3 additional raises from Level 2 that are
also being sampled. Only samples from one raise between Level 1 and the surface
were included in the current 43-101 resource estimate.


The current underground development consists of 2,750 metres of drifts and
raises on 4 levels. The total vein indicated resource, estimated at 11.02 ounces
silver per tonne (10.0 oz silver per ton) cut -off grade, is reported as 33,000
tonnes with 26.68 ounces silver per tonne, 4.16% lead and 3.80% zinc, containing
880,000 ounces silver, 3,030,000 lbs. lead and 2,760,000 lbs. zinc. Total vein
inferred resource, estimated at the same cut-off grade (11.02 ounces silver per
tonne) is reported as 120,000 tonnes with 29.76 ounces silver per tonne, 2.79%
lead and 4.36% zinc, containing 3,580,000 ounces silver, 7,370,000 lbs. lead and
11,540,000 lbs. zinc.


Geochemical Testing

The Company conducted a geochemical sampling program consisting of 671 samples
focusing on two primary targets the MB Zone and the Camp Zone. The MB Zone is
approximately 800 metres northwest of the current mine workings. Surface samples
were taken from an exposed area of fractured argillite in 2010 and assays were
reported as high as 9,221g/t Ag (Aug. 25, 2010 press release). The Camp Zone is
in an area where a geochemical testing program conducted in 1996 identified a
large soil anomaly below the Jensen Portal, near the base of the mountain that
was followed up with one drill hole that did not penetrate the overburden and a
second drill hole that may have missed the target. Results from the soil program
will be compiled and released as soon as they are received from the laboratory.


Laboratory Procedures and Quality Assurance

Drill core is logged by a geologist and cut at predetermined intervals using a
diamond saw. One half of the sample is archived on site and the other half is
trucked to Acme Analytical Laboratories Ltd's facility in Vancouver, BC, where
the sample is crushed, split and pulverized to -200 mesh. A 0.5 gram portion of
the pulp is then digested in hot aqua regia and analyzed for 31 elements by ICP
MS method. Over limits for Ag is by fire assay with gravimetric finish, and for
Pb, Zn and Mn by multi -acid digestion and ICP ES finish.


Certified standard reference material ("SRM"), including core duplicates and
blanks, have been inserted into each sample shipment at a frequency of
approximately one SRM per ten samples.


Huldra Announces S&P Market Access Program Coverage

The Company also announced today that its information will be made available via
Standard & Poor's Market Access Program, an information distribution service
that enables subscribing publicly traded companies to have their company
information disseminated to users of S&P's MarketScope Advisor. Huldra's
information to be made available through this program includes share price,
volume, dividends, shares outstanding, company financial position and earnings.
MarketScope Advisor is an Internet-based research engine used by more than
100,000 investment advisors. A public version of the site is available at
http://advisor.marketscope.com.


In addition, information about the Company will be available via S&P's Stock
Guide database, which is distributed electronically to virtually all major quote
vendors. As part of the program, a full description of Huldra will also be
published in the Daily News section of Standard Corporation Records, a
recognized securities manual for secondary trading in up to 38 states under
their respective blue sky laws.


Huldra information distributed through the Market Access Program is based upon
information that Standard & Poor's considers to be reliable, but neither
Standard & Poor's nor its affiliates warrant its completeness or accuracy, and
it should not be relied upon as such. This material is not intended as an offer
or solicitation for the purchase or sale of any security or other financial
instrument.


Issuance of Options

Huldra also announces that it has granted 60,000 stock options to certain
employees of the Company. Each option is exercisable into one common share of
the Company at a price of $1.35 per share for a period of five years. The
options are subject to the terms of the Company's stock option plan.


Technical information in this news release has been reviewed and approved by Jim
Cuttle, P. Geo, a Qualified Person as defined by NI 43-101. Details of the
Company's Treasure Mountain property can be found in its NI 43-101 technical
report entitled "Technical Report, Project Update, Treasure Mountain Property,
Tulameen River Area, B.C. Canada" dated effective June 15, 2011, which is
available on SEDAR at www.sedar.com.


About Huldra

Huldra is currently working on plans to put its Treasure Mountain Project,
located 3 hours east of Vancouver, BC, into development, subject to permitting
and financing utilizing an offsite mill being constructed at the Company's
property outside of Merritt, BC. The Company is also actively assessing other
opportunities for acquisition and development.


On behalf of the Board of Directors

Ryan Sharp, MBA, President, CEO & Director

Disclaimer for Forward-Looking Information

This press release contains projections and forward-looking information that
involve various risks and uncertainties regarding future events related to the
Company's proposed exploration plans and its plans to put the Treasure Mountain
Property into production. Such forward-looking information can include
statements based on current expectations involving a number of risks and
uncertainties and are not guarantees of future performance of the Company, such
as the Company's ability to finance its planned exploration; the Company's
ability to source t he necessary infrastructure to effect its exploration plans;
current economic conditions and the state of mineral exploration and mineral
prices in general. These risks and uncertainties could cause actual results and
the Company's plans and objectives to differ materially from those expressed in
the forward-looking information. The Company can offer no assurance that its
exploration and development plans will be completed in the time expected or at
all. These and all subsequent written and oral forward-looking information are
based on estimates and opinions of management on the dates they are made and
expressly qualified in their entirety by this notice. Except as required by law,
the Company assumes no obligation to update forward-looking information should
circumstances or management's estimates or opinions change.

Shear Diamonds Ltd. (TSXV:SRM)
Historical Stock Chart
From May 2024 to Jun 2024

Shear Diamonds Ltd. (TSXV:SRM)
Historical Stock Chart
From Jun 2023 to Jun 2024