Esperanza Begins Cerro Jumil Expansion Drill Program
November 16 2009 - 10:00AM
Marketwired
Esperanza Silver Corp. (TSX VENTURE: EPZ)(PINK SHEETS: ESPZF) is
pleased to announce that it has begun a new drill campaign at its
wholly-owned Cerro Jumil gold project in Morelos State, Mexico. The
drill program will focus on expanding the currently defined gold
resource (News Release Oct 1, 2008:
http://www.esperanzasilver.com/release.php?R_ID=142), primarily in
the Calabasas zone. Earlier drilling has encountered gold
mineralization in this area that will now be further defined and
quantified.
An additional focus of the drill program will be to upgrade
resources currently categorized as inferred to the measured and
indicated categories. Also new exploration targets in the immediate
resource area will be tested. Esperanza anticipates a minimum of
10,000 meters will be drilled during this program adding to the
32,000 meters already completed in earlier drill campaigns.
A recently completed Preliminary Economic Assessment (News
Release Sept 8, 2009:
http://www.esperanzasilver.com/release.php?R_ID=179) recommended
further metallurgical testing. Accordingly a sample has been
shipped to SGS Laboratories in Durango, Mexico and column testing
to further define heap leach characteristics will begin shortly.
This will be the first in a series of subsequent metallurgical
investigations designed to further optimize the heap-leach process
parameters for use in a feasibility study.
Bill Pincus, Esperanza's President said, "We are excited to
start on this new drill program and the metallurgical testing as it
now moves Cerro Jumil into the feasibility stage of development. We
expect that the results of this new work will enhance Cerro Jumil's
already considerable potential and move the project that much
closer to production."
About Esperanza
Esperanza is a gold and silver company focused on advancing the
development of its two principal properties: the 100%-owned Cerro
Jumil gold project in Morelos State, Mexico and the San Luis gold
and silver joint venture in Peru. It also holds an extensive
portfolio of exploration properties in Mexico and Peru.
SAFE HARBOR: Some statements in this release are forward-looking
in nature. The United States Private Securities Litigation Reform
Act of 1995 provides a "safe harbor" for certain forward-looking
statements. Such statements include statements as to the potential
of the Cerro Jumil property, the ability to finance further
exploration, permit drilling and other exploration work, and the
availability of drill rigs. The forward-looking statements involve
risks and uncertainties and other factors that could cause actual
results to differ materially, including those relating to
exploration and bringing properties into production. Please refer
to a discussion of some of these and other risk factors in
Esperanza's Form 20-F filed with the U. S. Securities and Exchange
Commission. The forward-looking statements contained in this
document constitute managements' current estimates as of the date
of this release with respect to the matters covered herein.
Esperanza expects that these forward-looking statements will change
as new information is received and that actual results will vary,
possibly in material ways.
Forward-looking statements are based on the beliefs,
expectations and opinions of management on the date the statements
are made, and the company does not assume any obligation to update
forward- looking statements if circumstances or management's
beliefs, expectations or opinions should change. For these reasons,
investors should not place undue reliance on forward-looking
statements.
RESOURCES: The terms "measured resource", "indicated resource"
and "inferred resource" used in this news release are Canadian
geological and mining terms as defined in accordance with National
Instrument 43-101, Standards of Disclosure for Mineral Projects of
the Canadian Securities Administrators under the guidelines set out
in the Canadian Institute of Mining, Metallurgy and Petroleum (the
"CIM") Standards on Mineral Resources and Mineral Reserves, adopted
by the CIM Council as may be amended from time to time by the CIM.
Mineral resources that are not mineral reserves do not have
demonstrated economic viability. We advise U. S. investors that
while such terms are recognized and permitted under Canadian
regulations, the SEC does not recognize them. U. S. investors are
cautioned not to assume that any part or all of the mineral
deposits in the measured, indicated, and inferred categories will
be converted into reserves.
Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organization of Canada accepts responsibility for the
adequacy or accuracy of this release.
Contacts: Esperanza Silver Corp. Bill Pincus President and CEO
Toll free: (866) 890 5509 info@esperanzasilver.com
www.esperanzasilver.com
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