Nov. 5, 2009 (TheNewswire.ca) --
Hi Ho Silver Resources Inc. ("Hi Ho Silver" or the "Company")(CNSX:HHS) is pleased to announce that Mr. Robinson has joined the Board of Directors. Mr. Robinson is a graduate of Queens University and holds a CFA designation. Mr. Robinson has been in the financial industry for 25 years specifically in Institutional Equity Sales. He has spent the last seven years with Jennings Capital in Toronto in Institutional Equity sales and prior to that has worked with Harris Partners, Levesque Beaubien, Capital Group Securities, Bell Guinlock and Greenshields. Mr. Robinson brings with him a wealth of experience and knowledge in the financial field to Hi Ho Silver and his experience should prove invaluable to the company. Hi Ho Silver is excited to bring Mr. Robinson onboard as a director.
In addition the "Company" has brought Mr. Kristian Whitehead on board as an Advisor to the Board of Directors. Mr. Whitehead is a graduate of the University of Victoria and has worked as a senior geologist for several junior exploration companies including Statagold and Hawthorne Gold Corp. (OOTC:HWTHF) (TSXV:HGC) Mr. Whitehead has worked on numerous exploration projects ranging from grassroots to production located in both Northern and Southern America. Mr. Whitehead is also the President of Infiniti Drilling Corporation based in Vancouver which has provided diamond drilling services to the mining industry since 2004. This position has been Mr. Whitehead's primary roles as being responsible for corporate development, contact bids and negotiations, as well as quality control and safety. Mr. Whitehead currently works as Senior Geologist for Hawthorne Gold Corporation listed on the TSX-V where he is responsible for ongoing development of several advanced stage properties towards production.
The "Company" is excited to bring his geological and business experience to the Hi Ho Silver team and feel he will be invaluable addition as the company grows.
Both Mr. Robinson and Mr. Whitehead will be granted 200,000 employee/directors share purchase options exercisable for a two year period at a price of $0.05 per share.
Hi Ho Silver main project is Carmi Molybdenum project located near Beaverdell, British Columbia. The "Company" currently has 51% interest in the property with an option to earn a full 100% interest. In a news release dated September 30, 2008 the "Company" announced a National Instrument 43-101 compliant resource calculation containing an resource estimate of 12,906,000 tonnes grading 0.058% Mo and an inferred tonnage of 27,385,000 tonnes grading 0.056% Mo at a 0.026%Mo cut off.
Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
The quantity and grade of reported inferred resources in this estimation are conceptual in nature.
The 0.026% Mo cut-off grade was derived from a Mo price of US$25/lb and process/roaster combined recoveries of 88%. Process costs of C$7.50/tonne and G&A of C$3.00/tonne were also used to determine the operating cut-off grade.
The mineral resources in this estimate were calculated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council December 11, 2005.
Eugene Puritch, P.Eng. and Antoine Yassa, P.Geo. of P&E are the independent Qualified Persons responsible for preparing the resource estimate. The total database for the Carmi deposit contains 221 drill holes with the main zone being flat lying and approximately 1.5 km in length, up to 700 metres in width and with a thickness up to 110 metres. The resource estimate involved three dimensional modeling methods and parameters, and statistical and grade continuity analyses from drill data on approximate 50 metre spaced cross sections. Gemcom modeling software was used for establishing the 3D geologic interpretation and subsequent inverse distance squared block model grade estimates.
All drill core from the 2006 and 2007 drill programs was logged, split and sampled at a secure core facility at Beaverdell. On-site personnel at the project collect and track samples which are then sealed and shipped to Acme Analytical Laboratories Ltd. in Vancouver and Eco Tech Laboratory Ltd. in Kamloops. Both are certified analytical laboratories. Analysis was by ICP-MS methods. Analytical accuracy and precision are monitored at the laboratory by the analysis of reagent blanks, reference material and replicate samples. Quality control is further assured by the use of international and in-house standards. Blind certified reference material and blanks are inserted at regular intervals into the sample sequence by on site personnel in order to independently assess analytical accuracy. Finally, blind duplicate samples are forwarded to the labs for additional quality control.
The "Company" also has a 100% interest in the high grade silver, zinc and lead property located near Kaslo, B.C. in South-central British Columbia
The technical information contained in this news release has been verified by, Paul Reynolds, P. Geo., who is a qualified person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Properties."
For additional information on Hi Ho Silver Resources (CNQ:HHS) Inc. (OOTC:HHSRF) and its projects, please contact:
Fred Fisher, President/CEO
Tel: (905) 602-4653
Email: info@hhsr.ca
Website: www.hhsr.ca
Signed,HI HO SILVER RESOURCES INC.
Fred Fisher,President & C.E.O.
For more information contact:
Fred Fisher, President/CEO
Isabel Alves, Investor Relations
Tel (905) 602-4653
Email: info@hhsr.ca
Website at: www.hhsr.ca
The Canadian National Stock Exchange (CNSX) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this document.
NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. PERSONS.
Forward-Looking Information:
This release may include certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve or resource potential, exploration drilling, exploitation activities and events or developments that Hi Ho Silver Resources Inc. (the "Company") expects to occur, are forward-looking statements. Such statements are identified in this release by the use of words such as "will" and "expected" as well as the use of the future or conditional tense. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise
Copyright (c) 2009 Thenewswire.ca - All rights reserved.
