Silver Standard Resources discovered a new gold mineralized area at its Marigold mine in Nevada, USA, referred to as the HideOut area. Development drilling southeast of the 8 South pit intersected a zone with 2.47 grams per metric ton (g/mt) gold over 76.2 m from 152.4 m below surface, including 5.44 g/m gold over 30.5 m from 161.5 m below surface.

“The discovery of another mineralized area with intercepts above-average reserve grade, related to our recent 8SX and 8D discoveries, continues to build exploration upside at Marigold,” said Paul Benson, president and CEO, Silver Standard Resource. “Our exploration team is unlocking value with an ultimate goal of mine life extension and driving better margins through these higher grade discoveries.”

In addition to earlier reported discoveries of the 8 South pit extension (8SX) area and the 8D area, recent exploration drilling at Marigold identified a new mineralized center outside the current resource envelope called the HideOut area, with intercepted grades higher than the mineral reserves cut-off grades. HideOut is located 800 m south of the 8SX area and 60 m north of the ultimate pit limit. A total of 3,860 m in 15 reverse circulation drill holes were completed at the HideOut area in the third quarter of 2015.