SOURCE: International Silver Inc.
TUCSON, AZ--(Marketwire - Feb 13, 2013) - 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.
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.