International Silver Inc. Announces Major Property Position in Butte District
February 13 2013 - 9:30AM
Marketwired
International Silver Inc
. (OTCQB: ISLV) is
pleased to announce that it has acquired a major property position
in the Butte Mining District, Butte, Montana, through a series of
claim purchases and mining lease agreements, as follows:
- 954 acres of mining leases with 362 acres of surface rights in
the north and central parts of the district from New Butte Leasing,
LLC;
- 18 acres over the Alice vein grouping comprising the Magna
Charta claim through direct purchase;
- 1,022 acres of surface and mineral claims held under purchase
contract from Chattel, LLC located to the west of Big Butte
Mountain; and
- 1,100 acres of subsurface mineral rights in the south and
central parts of the district through a 99 year mining lease from
the Continental Public Land Trust (CPLT).
These properties host the majority of the silver mines operated
by the Anaconda Corporation ("Anaconda") in the Butte Mining
District from the late 1800s until the 1970s when Anaconda ceased
operations. They include numerous ore bodies with significant
remaining silver/zinc/copper/lead mineralization and a number of
developed underground mines, including surface facilities,
serviceable head frames for hoisting and power installations.
The mines now held by International Silver are:
The Alice Underground Mine, including the Rainbow and Rising
Star vein systems: The Alice Mine, located in the outer part of the
Butte intermediate mineralogical zone, was developed on a group of
main stage silver-zinc veins. The width varies as numerous veins
converge, with individual veins averaging from 14 to 90 feet wide,
to form a vein zone 187 feet wide.
Lexington Mine, including Skyrme, State, Gaul, Grey Rock and
Blue Wing veins: The Lexington Mine adjoins and connects on the
south with the Alice Mine area development and a serviceable three
compartment shaft extends to the 2,600 level.
Badger State Mine, including the State, Emily, Badger, Snow Ball
and south split of the Rainbow veins: The Badger State Mine was
operated by the Anaconda Company from 1960 to 1967 as a 1,500 tpd
block cave silver-zinc mine. The mine is equipped with a
substantial steel head frame and a large steel frame hoist house
and compressor building. The three compartment shaft extends
downward to below the 4,200 level. Both copper-silver and
silver-zinc ores were mined from these veins and the vein widths
averaged 65 feet.
High Ore and Diamond Bell Mines, including the Syndicate, Bell
and High Ore veins: The Diamond is located near the north high wall
of the Berkeley Pit and the Company's mineral rights extend to the
southeast into the pit area. It has a steel production head frame.
The mine was operated as a high grade copper-silver source in the
central mineralogical zone.
Belmont Mine The Belmont is part of the CPLT lease and is
located about 1,000 feet southwest of the Berkely Pit.
International Silver controls mineral rights to the area around the
Belmont Mine and in a zone extending westward for about two miles
in length by one mile wide. Belmont is within the central copper
zone and was formerly one of Anaconda's most productive
copper-silver mines. Silver rich veins were mined in the upper
levels. Thick zones of porphyry copper style mineralization occur
in the deep levels of the mine and form a large tilted domelike
mass with unexplored high grade vein zones emplaced in a radial
position. Drilling and sampling on the 2,800 level of the mine
indicates that the porphry copper mineralization extends
continuously downward to at least the 4,200 level, a thickness of
1,400 feet.
About International Silver Inc.
International Silver Inc. (the "Company"), headquartered in
Tucson, Arizona, is an exploration and mine development company
with properties in Nevada, Montana and California. An emerging
silver company, International Silver's common shares are traded on
the OTCQB under the symbol ISLV.
Statements made which are not historical facts, such as
anticipated payments or purchases are "forward-looking statements"
and involve a number of risks and uncertainties that could cause
actual results to differ materially from those projected,
anticipated, expected or implied. These risks and uncertainties
include, but are not limited to, metals price volatility,
volatility of metals production and costs, exploration risks and
results, political risks, project development risks, labor issues
and ability to raise financing. The information contained in this
press release should not be construed as any indication whatsoever
of the Company's future financial condition or the future price of
its common stock. Refer to the Company's Form 8-K, Form 10-Q and
10-K reports for a more detailed discussion of factors that may
impact expected future results. The Company undertakes no
obligation and has no intention of updating forward-looking
statements.
International Silver's Home Page can be accessed on the Internet
at www.internationalsilverinc.com.
International Silver, Inc. Matthew J. Lang Vice President -
Administration 520-889-2040 ext. 10
mlang@internationalsilverinc.com
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