Esperanza Silver Corp./Cerro Jumil: Calabazas Zone Continues to Grow
March 09 2010 - 3:15PM
Marketwired
Esperanza Silver Corp. (TSX VENTURE: EPZ)(PINK SHEETS: ESPZF) (EPZ)
announces the results of its on-going drilling campaign at its 100%
owned Cerro Jumil gold project in Morelos State, Mexico. Highlights
of the drill results include:
-- Drill Hole RCHE-09-127 intersected 33 meters containing 2.053 grams of
gold per tonne including a 16.5 meter interval containing 2.92 grams
gold per tonne.
-- Drill Hole RCHE-09-117 intersected 48.0 meters containing 0.97 grams
gold per tonne including a 6 meter interval containing 2.35 grams gold
per tonne.
-- Drill Hole RCHE-09-129 intersected 33.0 meters containing 1.07 grams of
gold and a separate interval7.5 meters containing 1.13 grams of gold per
tonne.
Complete results are in the accompanying table.
Bill Pincus, Esperanza's President and CEO, commenting upon the
drill results said, "The new drill results are exciting and support
the deposit model our geologists have developed. Of special
interest is the presence of multiple zones of mineralization in
many of the drill holes. The current drill program is evaluating
areas of the Las Calabazas and Southeast zones where limited or no
previous drilling had been completed. We are pleased with the
results so far and anticipate that we will continue to add to or
upgrade our resource base as drilling continues in this area. This
phase of drilling should be finished by early summer and a revised
resource estimate will be completed shortly thereafter. One of the
great advantages we have is that the gold deposit is exposed on
surface. This provides easy access for metallurgical sampling.
Concurrent with the on-going drill program we are selecting sites
for bulk metallurgical samples. A comprehensive series of advanced
tests have been planned by our consulting metallurgist and will
begin once final sample locations are defined."
The drilling at Cerro Jumil is a part of a comprehensive work
program recommended by the 2009 Preliminary Economic Assessment and
is designed to move the project to the full feasibility level as
rapidly as possible. Additional work planned for 2010 in addition
to the advanced metallurgical testing includes, geotechnical
analysis, environmental baseline data collection and other efforts
required to advance the project.
Esperanza also has an active community relations program and has
been working effectively with the local stakeholders as the project
advances. This effort is key to the success of the project.
-------------------------------------------------------------
Cerro Jumil RC Holes - Phase 4
-------------------------------------------------------------
Hole From To Interval Grade
(meters) (meters) Length (grams Au/tonne)
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-117 40.5 88.5 48.0 0.971
-------------------------------------------------------------
includes 51.0 57.0 6.0 2.348
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-118 0.0 9.0 9.0 0.781
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-118 16.5 33.0 16.5 0.725
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-118 45.0 55.5 10.5 1.087
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-118 63.0 70.5 7.5 1.566
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-118 124.5 139.5 15.0 1.170
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-119 42.0 87.0 45.0 0.475
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-120 4.5 12.0 7.5 1.202
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-120 54.0 81.0 27.0 0.741
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-120 87.0 123.0 36.0 0.660
-------------------------------------------------------------
includes 96.0 105.0 9.0 1.265
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-120 141.0 148.5 7.5 0.678
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-121(i) 1.5 30.0 27.0 0.832
-------------------------------------------------------------
includes 7.5 19.5 10.5 1.125
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-121 69.0 81.0 12.0 0.678
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-122 46.5 66.0 19.5 1.245
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-123 30.0 46.5 16.5 1.374
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-124 27.0 51.0 24.0 0.949
-------------------------------------------------------------
includes 31.5 40.5 9.0 1.438
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-125 1.5 22.5 21.0 0.665
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-126 0.0 75.0 75.0 0.718
-------------------------------------------------------------
includes 30.0 43.5 13.5 1.428
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-127 36.0 51.0 15.0 0.860
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-127 85.5 118.5 33.0 2.053
-------------------------------------------------------------
includes 100.5 117.0 16.5 2.924
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-128 120.0 144.0 24.0 0.917
-------------------------------------------------------------
includes 121.5 130.5 9.0 1.703
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-129 43.5 51.0 7.5 1.127
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-129 60.0 93.0 33.0 1.069
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-130 85.5 105.0 19.5 0.765
-------------------------------------------------------------
includes 94.5 102.0 7.5 1.118
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-131 28.5 54.0 25.5 0.343
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-132 90.0 102.0 12.0 1.543
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-133 73.5 88.5 15.0 1.348
-------------------------------------------------------------
-------------------------------------------------------------
RCHE-10-134 40.5 61.5 21.0 1.060
-------------------------------------------------------------
includes 49.5 61.5 12.0 1.453
-------------------------------------------------------------
-------------------------------------------------------------
(i) RCHE-09-121- The interval from 1.5 to 30 (28.5 meters)
contained a 1.5 meter interval where no material was recovered
and therefore was not included in the interval reported (27 meters).
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.
QUALIFIED PERSON: William Bond, M.Sc., Geol. and Vice President
of Exploration, Esperanza Silver Corp. is the Qualified Person (QP)
under NI 43-101 responsible for the Cerro Jumil exploration
program. He has verified the drill results and other data disclosed
in this news release, including sampling, analytical and test data.
Field work has been conducted under his supervision. All samples
were submitted to ALS Chemex laboratories for analysis in
Vancouver, Canada. Gold samples were analyzed by fire assay and
atomic absorbtion spectroscopy with a 30 g nominal sample weight.
Silver is analyzed by induction coupled plasma - atomic emission
spectroscopy (ICP-AES). A description of quality control and
quality assurance protocols can be found at
http://www.esperanzasilver.com/protocols.php.
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
Esperanza Resources Corp. (TSXV:EPZ)
Historical Stock Chart
From Jun 2024 to Jul 2024
Esperanza Resources Corp. (TSXV:EPZ)
Historical Stock Chart
From Jul 2023 to Jul 2024
