Golden Tag Resources Ltd. and ECU Silver Mining Inc.: Additional High-Grade Silver Intercepts and New Veins at San Diego Propert
August 27 2008 - 7:00AM
Marketwired Canada
Golden Tag Resources Ltd. (TSX VENTURE:GOG)("Golden Tag") and ECU Silver Mining
Inc. (TSX:ECU)("ECU") are pleased to report significant results from the
remaining assays received from the Phase 3 exploration program at the jointly
held San Diego Property in Durango State, Mexico. The drilling program,
initiated in October 2007, entailed the completion of 16 new holes for a total
of 6,655 metres and brings the cumulative drilling on the property to 13,245
metres.
The recent assay results are from 11 diamond drill holes targeted primarily at
the near surface vein environment and were designed to increase the current
mineral resources along the western and eastern extensions of the main
Cantarranas, Montanez and Rata Veins as well as the northeastern extension of
the El Jal Vein. All the drill holes intersected significant mineralization,
including several very high-grade intersections of above one kilogram silver
(1,000 g/t Ag) confirming the potential to expand the mineral resources
associated with these laterally extensive vein systems. Certain high grade
values reported below were also obtained in new vein discoveries in the
north-eastern corner of the property. The new veins - the Arroyo Zone and Vein
N040 degrees - belong to a NE trending fracture system and remain open at depth.
In addition, drilling in this area proved further extension to the north-east of
the El Jal Vein increasing its confirmed strike length from 400 to 500 metres.
The following intersections from in-fill drilling completed during Phase 3
deserve particular note:
SD-07-19:
- Cantarranas Vein
1,765 g/t Ag over 0.50 m with 0.57% Pb and 0.70% Zn
- New E-W Stringer Zone
1,040 g/t Ag over 0.25 m with 9.91% Pb and 5.98% Zn
SD-07-25:
- Vein N040 degrees (near surface)
652 g/t Ag over 1.60 m with 2.07% Pb and 1.98% Zn, Including
1,060 g/t Ag and 0.92 g/t Au over 0.40 m with 3.5% Pb, 2.6% Zn and 0.7% Cu
SD-08-26:
- Montanez Footwall Zone
1,030 g/t Ag over 0.90 m with 1.14% Pb and 1.25% Zn
also includes previously released results for:
- Montanez Hangingwall Zone
1,786 g/t Ag over 1.25 m with 6.38% Pb, 4.33% Zn and 0.7% Cu
- Ag Stringer Zone : 725 g/t Ag over 0.25 m with 0.74% Pb and 1.45% Zn
- Cantarranas Veins # 1 and # 2
1,365 g/t Ag over 0.75 m with 21.4% Pb and 6.9% Zn
1,060 g/t Ag over 0.55 m with 15% Pb and 3.9% Zn
SD-07-27:
- Arroyo Zone (near surface)
166 g/t Ag over 4.60 m, Including 776 g/t Ag over 0.60 m with 1.56% Cu
- El Jal Vein
783 g/t Ag and 1.38 g/t Au over 1.15 m with 0.76% Cu, Including
-- 1,500 g/t Ag and 2.4 g/t Au over 0.35 m with 1% Cu
-- 759 g/t Ag and 1 g/t Au over 0.30 m with 1.5% Cu
SD-08-29:
- Ag Stringer Zone
3,450 g/t Ag over 0.20 m with 2% Pb, 0.56% Zn and 0.44% Cu
Detailed assay results from the drill holes with true widths and silver
equivalent grades are reported in Table 1, below. An updated plan view map
showing the location of all drill holes completed to date will be available
shortly on Golden Tag's website at www.goldentag.ca.
These results are from high-grade vein areas on the property and are in addition
to the assay results reported earlier from the deeper holes drilled in the
program. The deeper holes were targeted at testing for wider mineralized zones
along the western and eastern contacts of the central diorite stock. In the
eastern sector, these holes were successful in confirming the presence of broad
zones of semi-massive and massive sulphide mineralization developed in a
skarn-type replacement and/or mantos environment along favourable diorite/marble
contacts (see press releases dated April 7 and June 23, 2008). These holes were
prioritized for assaying at the time of drilling.
Drilling conducted at San Diego has shown that the property hosts a low
sulphidation epithermal system rich in silver-lead-zinc mineralization, with
lesser gold and copper content, as discrete and extensive veins in the near
surface environment. This system lies vertically above favourable skarn and
marble units hosting massive and semi-massive sulphides and stringer-style
mineralization (see press release: June 23, 2008). The geological setting and
style of mineralization is thought to bear similarities to intrusion-related
deposits like the nearby Santa Maria Mine of Penoles S.A. de C.V. in the
Velardena District, as well as, the San Martin/Sabinas mine complex in Zacatecas
State owned by Grupo Mexico. Production at the latter deposit achieves a daily
rate of over 5,000 tonnes per day, suggesting the overall potential for this
style of deposit and the San Diego Property.
A 5,000 metre, Phase 4 program of diamond drilling is scheduled to start in
September on the San Diego Property. The program will focus on the eastern
sector of the property where bulk tonnage potential associated with
contact-related skarn, mantos and stockwork zones has been identified.
Additional drilling may also be completed in the northeast to further evaluate
the new vein systems.
Quality Control: The drilling program is supervised by Ms. Kateri Marchand,
P.Geo. and Qualified Person under National Instrument 43-101 guidelines. She has
confirmed all disclosures in this release. Details of the QA/QC program followed
at San Diego are available in previous press releases. All reported analyses
were performed by ALS Chemex accredited assay laboratories of Guadalajara and
Vancouver. Conversion factors used to convert to silver equivalents are shown at
bottom of Table 1. Readers are cautioned that until a pre-feasibility study is
completed, there are no assurances that these mineralized zones will be
economically viable.
ECU Silver Mining Inc. is focused on the exploration, development and mining of
gold, silver and base metals at its Velardena District Properties in Durango,
Mexico. The area is comprised of three properties, the Main Velardena Property,
the Chicago Property and the San Diego Property. The properties are located near
to each other and include five historical mines - Santa Juana, Terneras, San
Mateo, San Juanes, and the San Diego mine. ECU's goal is to establish a
significant polymetallic mineral resource in the heart of Mexico. ECU's mission
is to become a pre-eminent silver and gold producer through the development of
existing, and additional potential resources at Velardena.
Golden Tag Resources Ltd. is a junior exploration company actively exploring for
high grade gold and silver deposits at the San Diego silver-lead-zinc project in
Durango State, Mexico; the Aquilon gold project 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.
SAN DIEGO JOINT-VENTURE PROJECT, DURANGO, MEXICO
TABLE 1. LATEST RESULTS FROM THE-2007-2008 DRILL PROGRAM
----------------------------------------------------------------------------
ZONES From To Length True Ag Pb Zn Au Cu AgEq
(m) (m) (m) Width (g/t) (%) (%) (g/t) (%) (g/t)
----------------------------------------------------------------------------
SD-07-19
----------------------------------------------------------------------------
Cantarranas #1 88.10 88.60 0.50 0.30 1,765 0.57 0.70 0.024 1,802
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Cantarranas #2 99.24 101.14 1.90 1.15 143 0.63 2.82 0.102 248
----------------------------------------------------------------------------
includes: 99.24 99.74 0.50 169 0.81 8.27 0.076
----------------------------------------------------------------------------
99.74 99.99 0.25 73 1.61 2.29 0.547
----------------------------------------------------------------------------
99.99 100.64 0.65 CORE NOT RECOVERED
----------------------------------------------------------------------------
100.64 100.91 0.27 16 0.13 0.18 0.035
----------------------------------------------------------------------------
100.91 101.14 0.23 719 1.57 2.60 0.043
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Veta AB 213.45 213.95 0.50 0.30 454 2.54 2.82 0.811 610
----------------------------------------------------------------------------
----------------------------------------------------------------------------
New E-W Zone 332.90 333.15 0.25 0.15 1,040 9.91 5.98 0.817 0.60 1490
----------------------------------------------------------------------------
and, 348.45 349.05 0.60 0.35 489 1.37 3.35 0.197 630
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Montanez FW 420.25 421.70 1.45 0.90 60 0.85 1.20 0.121 121
----------------------------------------------------------------------------
includes: 420.25 420.55 0.30 97 0.75 1.22 0.214
----------------------------------------------------------------------------
420.55 421.25 0.70 20 0.40 0.52 0.069
----------------------------------------------------------------------------
421.25 421.70 0.45 100 1.62 2.25 0.140
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Montanez Ctre 445.15 445.65 0.50 0.30 136 2.94 3.02 1.560 308
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Montanez HW 465.11 467.11 2.00 1.25 122 2.55 1.92 0.178 250
----------------------------------------------------------------------------
includes: 465.11 465.79 0.68 162 2.68 1.46 0.458
----------------------------------------------------------------------------
466.77 467.11 0.34 392 9.64 8.38 0.100
----------------------------------------------------------------------------
SD-07-21
----------------------------------------------------------------------------
Veta
040 degrees 14.70 17.30 2.60 1.45 99 0.04 0.19 0.012 99
----------------------------------------------------------------------------
includes: 14.70 15.00 0.30 439 0.11 0.34 0.070
----------------------------------------------------------------------------
17.00 17.30 0.30 403 0.17 0.04 0.025
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Canta-Splay
Vein 61.20 62.25 1.05 0.65 222 2.23 2.61 0.306 363
----------------------------------------------------------------------------
includes: 61.20 61.50 0.30 117 1.64 3.41 0.080
----------------------------------------------------------------------------
61.50 62.25 0.75 264 2.46 2.29 0.396
----------------------------------------------------------------------------
SD-07-23
----------------------------------------------------------------------------
Canta-Splay
#1(i) 111.84 112.18 0.34 0.10 270 0.61 0.65 0.233 306
----------------------------------------------------------------------------
Canta-Splay
#2(i) 126.66 127.34 0.68 0.20 620 1.73 0.46 0.259 680
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Veta
040 degrees 136.30 136.55 0.25 0.10 531 0.46 0.49 0.040 558
----------------------------------------------------------------------------
Arroyo Zone 180.10 180.35 0.25 0.15 447 0.94 0.84 0.121 498
----------------------------------------------------------------------------
and, 201.75 202.70 0.95 0.55 220 1.33 1.66 0.124 307
----------------------------------------------------------------------------
----------------------------------------------------------------------------
El Jal
Vein(i) 255.61 255.83 0.22 0.15 933 5.84 1.74 0.176 1,143
----------------------------------------------------------------------------
SD-07-25
----------------------------------------------------------------------------
Veta
040 degrees 23.55 25.15 1.60 0.25 652 2.07 1.98 0.393 0.40 768
----------------------------------------------------------------------------
includes: 23.55 24.25 0.70 203 0.65 1.49 0.187
----------------------------------------------------------------------------
24.25 24.75 0.50 953 2.89 2.19 0.258
----------------------------------------------------------------------------
24.75 25.15 0.40 1,060 3.52 2.57 0.923 0.72
----------------------------------------------------------------------------
SD-07-26
----------------------------------------------------------------------------
Montanez HW 57.55 57.75 0.20 0.10 672 1.76 0.93 0.505 748
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Montanez
Vein(i) 61.05 62.30 1.25 0.55 1,786 6.38 4.33 0.218 0.70 2,091
----------------------------------------------------------------------------
includes: 61.05 61.65 0.60 2,050 5.24 3.16 0.207 0.52
----------------------------------------------------------------------------
61.65 61.85 0.20 1,515 1.86 2.18 0.031 0.23
----------------------------------------------------------------------------
61.85 62.30 0.45 1,555 9.91 6.85 0.316 1.14
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Montanez FW 110.30 111.20 0.90 0.45 1,030 1.14 1.25 0.229 1,099
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Ag
Stringer Z. 188.65 188.90 0.25 0.13 725 0.74 1.45 0.067 790
----------------------------------------------------------------------------
and, 204.10 204.95 0.85 0.43 194 1.04 0.22 0.047 228
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Cantarranas Veins #1 and #2(i)
----------------------------------------------------------------------------
229.75 238.75 9.00 4.50 243 2.90 1.09 0.065 355
----------------------------------------------------------------------------
includes: 229.75 230.50 0.75 1,365 21.40 6.90 0.212
----------------------------------------------------------------------------
230.50 230.75 0.25 64 0.37 0.18 0.020
----------------------------------------------------------------------------
230.75 231.30 0.55 105 0.75 1.54 0.040
----------------------------------------------------------------------------
231.30 231.80 0.50 55 0.05 0.27 0.044
----------------------------------------------------------------------------
231.80 232.70 0.90 202 0.08 0.08 0.021
----------------------------------------------------------------------------
232.70 233.50 0.80 2 0.01 0.01 0.011
----------------------------------------------------------------------------
233.50 234.25 0.75 3 0.01 0.01 0.018
----------------------------------------------------------------------------
234.25 234.85 0.60 111 0.01 0.02 0.230
----------------------------------------------------------------------------
234.85 235.45 0.60 2 0.02 0.02 0.017
----------------------------------------------------------------------------
235.45 236.05 0.60 3 0.01 0.03 0.024
----------------------------------------------------------------------------
236.05 236.80 0.75 50 0.16 0.19 0.033
----------------------------------------------------------------------------
236.80 237.60 0.80 42 0.50 0.50 0.036
----------------------------------------------------------------------------
237.60 238.15 0.55 1,060 14.95 3.85 0.154
----------------------------------------------------------------------------
238.15 238.75 0.60 258 1.17 1.40 0.052
----------------------------------------------------------------------------
SD-07-27
----------------------------------------------------------------------------
Arroyo Zone 11.60 16.20 4.60 2.00 166 0.03 0.09 0.139 166
----------------------------------------------------------------------------
includes: 11.60 11.95 0.35 108 0.03 0.12 0.120
----------------------------------------------------------------------------
11.95 12.20 0.25 261 0.02 0.13 0.329
----------------------------------------------------------------------------
12.20 12.80 0.60 776 0.16 0.15 0.712 1.56
----------------------------------------------------------------------------
12.80 14.45 1.65 CORE NOT RECOVERED
----------------------------------------------------------------------------
14.45 14.95 0.50 178 0.02 0.21 0.112
----------------------------------------------------------------------------
14.95 15.25 0.30 94 0.01 0.10 0.023
----------------------------------------------------------------------------
15.25 15.75 0.50 86 0.01 0.10 0.016
----------------------------------------------------------------------------
15.75 16.20 0.45 79 0.01 0.11 0.038
----------------------------------------------------------------------------
----------------------------------------------------------------------------
El Jal Vein 66.75 67.90 1.15 0.80 783 0.51 0.32 1.380 0.76 806
----------------------------------------------------------------------------
includes: 66.75 67.10 0.35 1,500 0.84 0.22 2.410 1.03
----------------------------------------------------------------------------
67.10 67.60 0.50 295 0.52 0.42 0.835 0.11
----------------------------------------------------------------------------
67.60 67.90 0.30 759 0.12 0.26 1.085 1.54
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Porvenir Vein 221.80 223.60 1.80 0.85 94 1.36 0.55 0.025 148
----------------------------------------------------------------------------
221.80 222.60 0.80 0 2.29 0.91 0.007
----------------------------------------------------------------------------
222.60 223.00 0.40 2 0.37 0.07 0.015
----------------------------------------------------------------------------
223.00 223.30 0.30 1 0.01 0.01 0.012
----------------------------------------------------------------------------
223.30 223.60 0.30 562 1.54 0.79 0.099
----------------------------------------------------------------------------
SD-08-28
----------------------------------------------------------------------------
Montanez FW 73.95 76.00 2.05 1.30 175 0.28 0.34 0.057 193
----------------------------------------------------------------------------
includes: 73.95 74.35 0.40 365 0.21 0.54 0.095
----------------------------------------------------------------------------
74.35 74.80 0.45 3 0.01 0.01 0.043
----------------------------------------------------------------------------
74.80 75.30 0.50 89 0.28 0.52 0.058
----------------------------------------------------------------------------
75.30 75.55 0.25 336 1.09 0.56 0.045
----------------------------------------------------------------------------
75.55 76.00 0.45 185 0.18 0.19 0.042
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Montanez HW 91.80 94.55 2.75 1.75 148 0.26 0.60 0.147 173
----------------------------------------------------------------------------
includes: 91.80 92.40 0.60 230 0.55 1.63 0.045
----------------------------------------------------------------------------
92.40 93.00 0.60 31 0.12 0.13 0.029
----------------------------------------------------------------------------
93.00 93.65 0.65 164 0.32 0.48 0.058
----------------------------------------------------------------------------
93.65 94.15 0.50 207 0.19 0.49 0.556
----------------------------------------------------------------------------
94.15 94.55 0.40 100 0.04 0.07 0.110
----------------------------------------------------------------------------
SD-08-29
----------------------------------------------------------------------------
Ag Stringer Z. 16.65 16.85 0.20 0.10 3,450 2.08 0.56 0.125 0.44 3,523
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Montanez FW 149.80 150.35 0.55 0.35 345 1.13 0.83 0.056 401
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Montanez HW 168.85 169.95 1.10 0.70 149 0.39 0.29 0.06 169
----------------------------------------------------------------------------
includes: 168.85 169.45 0.60 204 0.54 0.36 0.06
----------------------------------------------------------------------------
169.45 169.95 0.50 84 0.21 0.20 0.06
----------------------------------------------------------------------------
169.95 170.80 0.85 CORE NOT RECOVERED
----------------------------------------------------------------------------
SD-08-30
----------------------------------------------------------------------------
Rata/Montanez 58.75 60.15 1.40 0.80 276 4.40 2.17 0.335 276
----------------------------------------------------------------------------
includes: 58.75 59.50 0.75 436 8.11 3.77 0.576
----------------------------------------------------------------------------
59.50 59.65 0.15 CORE NOT RECOVERED
----------------------------------------------------------------------------
59.65 60.15 0.50 118 0.16 0.43 0.074
----------------------------------------------------------------------------
SD-08-31
----------------------------------------------------------------------------
Rata/Montanez 67.50 69.05 1.55 0.90 90 1.01 0.70 0.375 90
----------------------------------------------------------------------------
includes: 67.50 67.80 0.30 79 3.39 1.49 1.64
----------------------------------------------------------------------------
67.80 68.70 0.90 92 0.10 0.25 0.047
----------------------------------------------------------------------------
68.70 69.05 0.35 92 1.29 1.21 0.133
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Corridor Zone 280.60 281.05 0.45 0.25 439 0.77 1.36 0.251 502
----------------------------------------------------------------------------
SD-08-32
----------------------------------------------------------------------------
Rata/Montanez 60.05 61.40 1.35 0.70 77 0.65 1.37 0.199 77
----------------------------------------------------------------------------
includes: 60.05 60.40 0.35 53 0.39 1.90 0.238
----------------------------------------------------------------------------
60.40 61.00 0.60 CORE NOT RECOVERED
----------------------------------------------------------------------------
61.00 61.40 0.40 215 1.86 2.96 0.465
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Rata/Montanez 93.60 94.75 1.15 0.65 283 0.73 1.68 0.210 283
----------------------------------------------------------------------------
includes: 93.60 94.00 0.40 201 0.15 0.40 0.058
----------------------------------------------------------------------------
94.00 94.25 0.25 375 0.74 1.68 0.347
----------------------------------------------------------------------------
94.25 94.75 0.50 303 1.18 2.69 0.263
----------------------------------------------------------------------------
----------------------------------------------------------------------------
La Cruz Vein 417.30 418.20 0.90 0.70 155 0.59 6.46 0.288 372
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Corridor Zone 435.90 436.30 0.40 0.20 134 0.28 0.02 0.838 142
----------------------------------------------------------------------------
Notes:
1. Silver Equivalents
Silver Equivalents were calculated using the same commodity prices and
metal recovery factors used in the San Diego 43-101 Resource Estimate
Report: 26.60 g/t Ag per 1% Pb, 31.21 g/t Ag per 1% Zn. Recovery factors
were 76% for silver, 71% for gold, 75% for lead and 44% for Zn. Commodity
prices of US$11.60/oz for silver, US$0.60/lb for lead and US$1.20lb for
zinc were used.
Gold content was not taken into account in the silver equivalent
calculation. Lead and Zinc content were not included in the silver
equivalent calculation of oxide veins such as the Arroyo and the
Montanez/Rata Zones.
2. (i) Previously released results (PR - April 7, 2008)
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