ECU Silver and Golden Tag Cut Additional Massive Sulphides at San Diego
November 04 2008 - 7:55AM
Marketwired Canada
ECU Silver Mining Inc. (TSX:ECU) ("ECU") and Golden Tag Resources Ltd. (TSX
VENTURE:GOG) ("Golden Tag") are pleased to report that they have intersected
additional Massive Sulphide mineralization (the "MS Zone") on the joint venture
San Diego Property. The drill-hole SD-07-21A intercept is particularly
significant as it represents the richest and widest intercept that has been
drilled on the San Diego Property to date. The MS Zone yielded 437 grams per
tonne (g/t) silver (Ag), 10.3% lead (Pb) and 11.8% zinc (Zn) over a core length
of 5.9 metres (19 feet), at a depth of 600 metres (1,970 feet) below surface
(see Table 1 below).
The recent assay results, along with earlier reports (see press releases dated
October 17, 2008 and June 23, 2008) continue to demonstrate an emerging pattern
of massive to semi-massive sulphide mineralization with significant grades in
silver, lead and zinc over attractive widths below the known surface vein
occurrences.
Drill-hole SD-07-21A intersected the new MS Zone in the south-eastern portion of
the property where no exploration drilling has been previously completed, until
now. The MS Zone is hosted in massive limestones and is believed to have formed
from the replacement of the carbonaceous host-rock by sulphide-bearing
solutions. Like skarn-replacement, carbonate-replacement type mineralization,
can form wide lenses of semi-massive to massive sulphide mineralization that
represent a major source of Ag-Pb-Zn mineralization in Mexico. The new MS Zone
could coincide with the eastern extension of the San Jose Vein, a NW trending
structure located south of the more prominent Montanez Vein. The Zone is open in
all directions and additional drilling is planned to further outline the extent
of mineralization in this area.
Diamond drilling on the property is ongoing with hole SD-08-35, a 70 metre
step-out hole to the west from recently completed hole SD-08-34. The main
objective of this hole was to intersect the junction point of the E-W trending
Cantarranas Vein with the northwest trending Ag Stringer Zone and the Montanez
Vein defining a V-shape structure. At the projected intersection point of these
three structures at depth, hole SD-08-35 cut a wide section of polymetallic
stringers and veins stretching over 100 metres from approximately 650 to 750
metres down hole. This mineralized section straddles the faulted contact between
the main diorite intrusive coring the centre of property and the adjacent
marble. It now appears that this NW trending contact is a major structure
transecting the whole property that would connect the Montanez Zone defined in
the Eastern sector of the property with the La Cruz Zone outlined in the Western
sector. Assays are pending.
Table 1 - Assay results from drill-hole SD-07-21A
---------------------------------------------------------------------------
Sample From To Length Silver Lead Zinc Silver Eq.
(m) (m) (m) (g/t) (%) (%) (g/t)
---------------------------------------------------------------------------
11539 686.30 686.75 0.45 444 9.20 10.80 1,026
11540 686.75 687.45 0.70 446 10.75 14.80 1,194
11541 687.45 688.10 0.65 430 9.58 11.20 1,034
11542 688.10 688.65 0.55 312 7.68 8.39 778
11543 688.65 689.30 0.65 597 15.40 18.65 1,589
11544 689.30 689.90 0.60 549 11.85 18.30 1,435
11545 689.90 690.50 0.60 676 16.25 13.55 1,531
11546 690.50 691.05 0.55 330 8.29 7.11 772
11547 691.05 691.55 0.50 117 2.91 2.81 282
11548 691.55 692.15 0.60 381 8.97 9.09 903
---------------------------------------------------------------------------
Average 686.30 692.15 5.85 437 10.32 11.81 1,080
---------------------------------------------------------------------------
Silver equivalents were calculated using the same commodity prices and metal
recovery factors used in the San Diego 43-101 Resource Estimate Report. These
were 26.60 g/t Ag per 1% Pb and 31.21 g/t Ag per 1% Zn.
Cautionary Statements and Additional Information:
Readers are cautioned that until a prefeasibility study is completed, there are
no assurances these latest mineralized zones will be economically viable. True
width for the MS vein is approximately 85% of the core length. All reported
analyses were performed by ALS Chemex accredited assay laboratories of
Guadalajara and Vancouver. Ms. Kateri Marchand, P.Geo. a "qualified person"
within the meaning of NI 43-101, prepared the technical information disclosed in
this news release.
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.
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.
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