Golden Tag Resources Ltd.-ECU Silver Mining Inc.: Final Assays on San Diego JV Property, Mexico
August 27 2007 - 10:29AM
Marketwired Canada
Golden Tag Resources Ltd. (TSX VENTURE:GOG) ("Golden Tag") and ECU Silver Mining
Inc. (TSX:ECU) ("ECU") are pleased to report that all assay results have now
been received from recent drilling on the San Diego property, Durango State,
Mexico. Final results based on reinterpretation of all data from drilling which
took place from September 2006 to May 2007, are presented in Table 1. Results
have confirmed the continuity of polymetallic high grade mineralization on
laterally and vertically extensive veins which transect the property. Highlights
from recent assaying further confirm that two of the new veins identified during
drilling (SD Vein and Canta Splay) are also laterally extensive.
Golden Tag and JV partner and operator ECU, recently completed the first round
of exploration drilling ever conducted at the San Diego Property. Drilling
results are considered very encouraging to date and have more than exceeded the
expectations of the companies. Additional extensions either on strike and/or to
depth are expected on all veins; wider zones of lower grade mineralization and
skarn-type alteration and mineralization suggest deeper potential for
alternative styles of mineralization on the property; and, the most recent high
grade gold intersection, now interpreted to be from a change in style of
mineralization in the La Rata/La Cruz fault corridor (15.31 gAu/T over 3.25
metres, see press release of June 11, 2007); all support the potential on the
property for continued discovery. A 6,500 metre follow-up program of diamond
drilling will commence in September, 2007.
Golden Tag is earning a 50% interest in the San Diego property from ECU by
incurring expenses totalling $US1.5 million over a 3 year period; As of May 31,
2007, Golden Tag has incurred expenses on the property totalling $US1.16
million.
Highlights from the most recent new assay results include:
SD Vein:
- 324 g/t silver (Ag) over 1.15 m with 2.35 % lead (Pb) and 2.42 %
zinc (Zn) (hole SD-06-09)
Canta Splay Vein:
- 408 g/t Ag over 5.40 m with 1.13 % Pb and 1.95 % Zn (hole SD-06-09)
Cantarranas Vein:
- 307 g/t Ag over 3.40 m with 1.44 % Pb and 1.81 % Zn (hole SD-06-10)
- 323 g/t Ag over 1.55 m with 1.67 % Pb and 2.85 % Zn (hole SD-07-15)
Montanez Vein :
- 101 g/t Ag over 15.90 m with 0.57 % Pb and 0.62 % Zn
(hole SD-07-15) occurring within a wide Upper Contact Zone adjacent
to the Montanez Vein
Including:
- 265 g/t Ag over 0.35 m with 4.55 % Pb and 4.68 % Zn (Montanez Vein)
- 343 g/t Ag over 2.35 m with 2.96 % Pb and 2.59 % Zn
- 324 g/t Ag over 1.75 m with 0.70 % Pb and 1.02 % Zn
The Canta Splay is a SW-NE trending structure extending further to the southwest
and open in all directions. The Montanez vein, in the eastern sector of the
property, is also considered quite significant since it is associated with a
wide skarn-type zone of alteration developed along the northern contact of a
monzonite sill with the hosting limestone. Assay results from hole SD-07-15 can
be correlated with a similar zone intersected in nearby hole SD-07-12 that
returned 50 g/t Ag over 27.55 m with 0.91 % Pb and 0.91 % Zn. This environment
bears several similarities in terms of alteration style, mineralization and host
rock with the wide La Cruz/La Rata Zones identified in the Western sector.
Overall, drilling recently completed at San Diego proved very successful and
exceeded all proposed objectives. Information gathered from this work confirmed:
- Presence of several high grade polymetallic veins, some of them already known
and some newly discovered;
- Excellent continuity of all Vein structures that are generally east-west
trending that can be traced over distances up to 800 m and to vertical depths
exceeding 300-400 meters, remaining open along strike and at depth;
- Presence of high grade Ag-Pb-Zn mineralization in veins and stringers with
several silver values exceeding 1,000 g/t Ag;
- Potential for high grade gold mineralization associated to disseminate to
massive pyrite occurring as stringers as well as skarn replacement
mineralization as seen in hole SD-07-08 with a reported intersection of 15.31
g/t Au over 3.25 metres;
- Presence of a NE-SW trending Diorite stock that cores the central portion of
the property;
- A NW-SE oriented monzonite sill that merges with the diorite body that could
be a younger, more differentiated phase of the main intrusive. This sill
transects both the Western and the Eastern sectors of the property.
- Well developed phyllic-prophyllitic and argillic alteration patterns
associated to wide skarn-type mineralized zones developed along the contacts of
and within the monzonite sill with the hosting limestone.
- Structural control of epithermal style mineralization along lithological
contacts and fault zone corridor that further enhanced microfracturation.
- Indications of increasing alteration and mineralization with depth that
suggest potential for Mantos-type skarn-related massive sulphide replacement
bodies at depth.
An updated National Instrument 43-101-compliant resource estimate is presently
being calculated and is planned to be released this fall.
Drilling is scheduled to resume this September with 6,500 meters planned. The
next phase of exploration drilling will in-fill already identified zones and
test depth extensions of the wider zones of La Cruz/Rata and Montanez. The San
Diego property can be easily accessed all year round and is located only 20 km
from the Torreon-Durango interstate highway, as well as 6 km NE from ECU
Silver's mining and milling operations at Velardena where an experienced
workforce is readily available.
Quality control
The San Diego drilling program is supervised by Kateri Marchand, PGeo., and
qualified person under National Instrument 43-101 guidelines. Ms. Marchand has
confirmed all disclosures in this release. Assay samples are taken from NQ/BQ
size drill core cut in half with one-half sent to a commercial laboratory and
other half retained for future reference. A strict QA/QC program is followed
which includes mineralized standards and blanks for each batch of samples.
Analyses were performed by ALS Chemex accredited assay laboratories of
Guadalajara (Mexico) and Vancouver (Canada). Check samples are also sent to SGS
assay laboratory of Durango (Mexico).
Table 1: Golden Tag/ECU Silver J.V., San Diego Property, Mexico
SUMMARY OF SIGNIFICANT INTERSECTIONS
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---------------------------------------------------------------------------
Hole From To Core Horizontal Ag Pb Zn Au Cu
Number (m) (m) Length Width (g/t) (%) (%) (g/t) (%)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
La Cruz
Vein
---------------------------------------------------------------------------
---------------------------------------------------------------------------
SD-06-02 276.7 4 287.35 10.61 9.00 237 3.65 1.67 0.201 0.04
---------------------------------------------------------------------------
less less
than than
SD-06-03 230.10 230.40 0.30 0.30 3 1.21 1.12 0.03 0.06
---------------------------------------------------------------------------
SD-06-04 294.06 294.98 0.92 0.80 345 1.16 1.55 0.080 0.08
---------------------------------------------------------------------------
SD-06-05 243.20 244.00 0.80 0.85 285 0.39 0.18 0.030 0.04
---------------------------------------------------------------------------
and 251.80 252.65 0.85 0.90 250 0.28 0.37 0.030 0.02
---------------------------------------------------------------------------
SD-07-07 413.50 458.55 45.05
---------------------------------------------------------------------------
Includes 413.50 421.60 8.10 4.00 59 1.30 1.10 0.148 0.03
---------------------------------------------------------------------------
Includes 444.90 447.40 2.50 1.25 92 2.08 4.02 0.390 0.08
---------------------------------------------------------------------------
Includes 450.00 451.40 1.40 0.70 44 0.92 1.12 0.042 0.02
---------------------------------------------------------------------------
Includes 456.45 458.55 2.10 1.00 75 1.51 1.50 0.700 0.02
---------------------------------------------------------------------------
SD-06-09 351.90 354.20 2.30 1.70 70 0.50 0.46 0.075 0.03
---------------------------------------------------------------------------
SD-06-10A 370.00 371.55 1.55 1.20 520 1.20 0.91 0.160 0.31
---------------------------------------------------------------------------
(a)SD-07-
13(1) 178.90 180.30 1.40 1.00 103 0.79 2.60 0.118 0.03
---------------------------------------------------------------------------
(a)SD-07-
13(2) 191.40 192.15 0.75 0.50 232 3.61 0.08 0.771 0.08
---------------------------------------------------------------------------
(a)SD-07-
13(3) 204.65 205.35 0.70 0.50 256 0.75 0.05 0.345 0.07
---------------------------------------------------------------------------
(a)SD-07-
13(4) 217.55 218.00 0.45 0.30 459 1.74 0.26 0.079 0.12
---------------------------------------------------------------------------
SD-07-16 251.00 252.15 1.15 1.15 524 0.08 0.22 0.072 0.03
---------------------------------------------------------------------------
SD-07-17 303.35 303.80 0.45 0.35 764 7.30 2.64 0.438 0.04
---------------------------------------------------------------------------
---------------------------------------------------------------------------
La Rata
Vein
---------------------------------------------------------------------------
---------------------------------------------------------------------------
SD-06-02 276.74 287.00 See La Cruz Vein Confluence
---------------------------------------------------------------------------
SD-06-03 181.30 181.90 0.60 0.45 268 0.05 0.07 0.20 0.01
---------------------------------------------------------------------------
SD-06-04 341.29 342.29 1.00 0.40 301 0.60 0.96 0.11 0.10
---------------------------------------------------------------------------
SD-06-05 209.00 210.50 1.50 1.00 356 5.01 0.08 0.06 0.01
---------------------------------------------------------------------------
SD-06-07 515.50 517.50 2.00 1.00 45 0.43 0.63 1.53 0.02
---------------------------------------------------------------------------
SD-07-08 493.30 496.55 3.25 1.15 2 0.00 0.01 15.3 0.00
---------------------------------------------------------------------------
SD-06-09 427.10 427.60 0.50 0.25 26 0.35 0.94 0.02 0.02
---------------------------------------------------------------------------
SD-06-10A 405.00 405.25 0.25 0.15 416 0.91 0.60 0.09 0.18
---------------------------------------------------------------------------
SD-07-13 295.05 295.35 0.30 0.12 401 0.84 1.18 0.05 0.06
---------------------------------------------------------------------------
SD-07-16 222.10 224.60 2.50 1.25 45 0.27 0.46 0.07 0.02
---------------------------------------------------------------------------
(a)SD-07
-17 404.75 405.05 0.30 0.10 382 1.67 1.81 0.10 0.14
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Montanez
Vein
---------------------------------------------------------------------------
---------------------------------------------------------------------------
SD-06-01 97.05 97.80 0.75 0.55 3,680 7.85 10.90 0.220 1.14
---------------------------------------------------------------------------
SD-06-01A 94.75 95.80 1.05 0.65 2,764 8.89 6.13 0.110 0.84
---------------------------------------------------------------------------
SD-06-02 98.90 99.85 0.95 0.60 248 0.25 0.02 0.055 0.08
---------------------------------------------------------------------------
SD-06-04 123.40 123.75 0.35 0.17 165 0.09 0.03 0.032 0.01
---------------------------------------------------------------------------
SD-07-07 142.25 142.55 0.30 0.13 418 0.10 0.30 0.024 0.03
---------------------------------------------------------------------------
SD-07-08 84.30 87.35 3.05 0.95 291 1.29 0.60 0.135 0.03
---------------------------------------------------------------------------
and 123.75 131.10 7.35 2.25 142 0.38 0.55 0.196 0.03
---------------------------------------------------------------------------
SD-06-09 13.70 16.00 2.30 0.95 119 0.14 0.13 0.060 0.03
---------------------------------------------------------------------------
and 23.60 27.15 3.55 1.50 169 0.29 0.57 0.150 0.06
---------------------------------------------------------------------------
SD-06-10 167.85 171.40 3.55 2.30 139 0.62 1.31 0.100 0.06
---------------------------------------------------------------------------
SD-07-12 381.70 409.25 27.55 19.65 50 0.91 0.91 0.218 0.03
---------------------------------------------------------------------------
Includes 387.20 390.55 3.35 2.40 139 2.51 2.64 0.390 0.10
---------------------------------------------------------------------------
(a)SD-07-
15(1) 241.00 243.35 2.35 1.65 343 2.96 2.59 0.035 0.10
---------------------------------------------------------------------------
(a)SD-07-
15(2) 250.40 252.15 1.75 1.25 324 0.69 1.02 0.030 0.11
---------------------------------------------------------------------------
(a)SD-07-
15(3) 290.05 290.40 0.35 0.25 265 4.55 4.68 0.165 0.11
---------------------------------------------------------------------------
SD-07-16 99.10 100.60 1.50 0.95 143 0.28 0.45 0.109 0.02
---------------------------------------------------------------------------
and 102.60 104.00 1.40 0.90 94 3.66 6.39 0.113 0.39
---------------------------------------------------------------------------
SD-07-17 187.00 190.70 3.70 1.00 62 0.21 0.34 0.120 0.00
---------------------------------------------------------------------------
---------------------------------------------------------------------------
El Jal
---------------------------------------------------------------------------
---------------------------------------------------------------------------
SD-06-09 39.20 39.55 0.35 0.10 302 2.01 3.97 0.369 0.12
---------------------------------------------------------------------------
SD-07-13 121.55 121.80 0.25 0.20 1,380 3.21 10.20 0.086 0.61
---------------------------------------------------------------------------
SD-07-14 104.00 104.80 0.80 0.75 154 0.70 4.48 0.346 0.07
---------------------------------------------------------------------------
and 111.00 111.90 0.90 0.85 691 6.20 4.24 0.303 0.19
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Cantarranas
---------------------------------------------------------------------------
---------------------------------------------------------------------------
SD-06-09 175.35 176.00 0.70 0.35 388 3.59 0.59 0.260 0.09
---------------------------------------------------------------------------
(a)SD-06-
10 236.05 239.45 3.40 1.90 307 1.44 1.81 0.100 0.16
---------------------------------------------------------------------------
SD-07-11 176.95 177.70 0.75 0.20 752 9.29 8.94 0.361 0.09
---------------------------------------------------------------------------
SD-07-12 255.70 256.55 0.85 0.50 1,310 11.99 3.85 0.209 0.11
---------------------------------------------------------------------------
(a)SD-07-
15 97.55 99.10 1.55 0.70 323 1.67 2.85 0.114 0.08
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Canta Splay
---------------------------------------------------------------------------
---------------------------------------------------------------------------
(a)SD-06-
09(1) 96.25 96.55 0.30 0.10 779 0.26 0.48 0.042 0.11
---------------------------------------------------------------------------
(a)SD-06-
09(2) 106.00 111.40 5.40 1.20 408 1.13 1.95 0.190 0.14
---------------------------------------------------------------------------
SD-06-
10(1) 78.30 79.00 0.70 0.25 507 0.63 0.95 0.170 0.07
---------------------------------------------------------------------------
SD-06-
10(2) 82.75 83.35 0.60 0.20 132 0.22 0.28 0.381 0.04
---------------------------------------------------------------------------
SD-07-11 77.00 77.35 0.35 0.15 2,090 3.12 3.67 0.074 0.33
---------------------------------------------------------------------------
SD-07-12 105.90 107.40 1.50 1.10 258 0.30 0.39 0.021 0.03
---------------------------------------------------------------------------
(a)SD-07-
15 64.85 65.10 0.25 0.15 405 2.14 6.18 0.011 0.11
---------------------------------------------------------------------------
---------------------------------------------------------------------------
SD Vein
---------------------------------------------------------------------------
---------------------------------------------------------------------------
SD-06-02 184.17 186.49 2.32 1.50 583 0.42 0.36 0.017 0.07
---------------------------------------------------------------------------
SD-06-03 135.35 135.75 0.40 0.25 88 0.09 0.50 0.140 0.02
---------------------------------------------------------------------------
SD-06-
04(2) 169.08 169.30 0.22 0.12 559 0.68 0.29 0.037 0.09
---------------------------------------------------------------------------
SD-06-
04(1) 196.15 196.35 0.20 0.10 512 0.91 1.91 0.700 0.05
---------------------------------------------------------------------------
SD-07-07 311.10 311.40 0.30 0.10 442 0.90 1.49 0.049 0.17
---------------------------------------------------------------------------
SD-07-08 149.00 151.20 2.20 1.25 78 0.16 0.82 0.060 0.01
---------------------------------------------------------------------------
(a)SD-06-
09(2) 198.70 199.85 1.15 1.00 324 2.35 2.42 0.132 0.06
---------------------------------------------------------------------------
SD-06-
09(1) 213.50 213.70 0.20 0.12 972 20.30 7.53 0.321 0.02
---------------------------------------------------------------------------
(a)SD-06-
10 267.40 268.35 0.95 0.70 61 0.45 0.63 0.094 0.04
---------------------------------------------------------------------------
(a)SD-06-
10A 267.00 267.80 0.80 0.60 80 1.06 2.29 0.375 0.07
---------------------------------------------------------------------------
SD-07-
11(1) 21.15 23.50 2.35 0.70 292 0.63 0.89 0.111 0.10
---------------------------------------------------------------------------
SD-07-
11(2) 32.30 32.70 0.40 0.15 506 1.02 0.45 0.195 0.10
---------------------------------------------------------------------------
SD-07-
12(1) 140.95 141.45 0.50 0.30 1,725 13.45 10.65 0.251 0.27
---------------------------------------------------------------------------
SD-07-
12(2) 154.15 155.50 1.35 0.70 707 0.82 1.48 0.573 0.09
---------------------------------------------------------------------------
SD-07-
15(1) 24.40 24.90 0.50 0.30 260 0.35 0.59 0.059 0.06
---------------------------------------------------------------------------
SD-07-
15(2) 30.35 30.70 0.35 0.20 386 0.91 0.50 0.256 0.09
---------------------------------------------------------------------------
SD-07-16 176.85 178.55 1.70 0.90 251 0.29 0.03 0.195 0.01
---------------------------------------------------------------------------
SD-07-17 269.55 270.40 0.85 0.35 87 0.18 0.78 0.291 0.01
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Trovador
Vein
---------------------------------------------------------------------------
---------------------------------------------------------------------------
(a)SD-07-
06 238.85 239.80 0.95 0.80 106 0.14 0.10 0.057 0.03
---------------------------------------------------------------------------
---------------------------------------------------------------------------
San Jose
---------------------------------------------------------------------------
---------------------------------------------------------------------------
SD-07-06 93.00 93.50 0.50 0.40 233 0.39 0.55 0.036 0.05
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(a) Latest results - not previously published
ECU Silver Mining Inc. is a Canadian silver and gold mining and exploration
company that is involved in the evaluation, development and mining of precious
metal deposits in Mexico. The Company owns the historically prolific Velardena
Property which holds five historical mines and a milling operation in the state
of Durango, Mexico.
Golden Tag Resources Ltd. is a junior exploration company actively exploring for
high grade gold and silver deposits at the San Diego silver project in Durango
State, Mexico; the Aquilon gold projects in James Bay, Quebec; and the McCuaig
gold project in Red Lake, Ontario.
Statements in the release that are "forward-looking statements" are based on
current expectations and assumptions that are subject to risks and
uncertainties. Actual results could differ materially. We undertake no duty to
update any forward-looking statement to conform the statements to actual results
or changes in our expectations.
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