Esperanza Drills 93 Meters of 1.8 Grams Per Tonne Gold at Cerro Jumil
April 19 2010 - 6:00AM
Marketwired Canada
Esperanza Silver Corp. (TSX VENTURE:EPZ)(PINK SHEETS:ESPZF) 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-10-151 intersected 93 meters containing 1.81 grams of gold per
tonne including a 10.5 meter interval containing 4.2 grams gold per tonne and
another 10.5 meter interval containing 3.2 grams gold per tonne.
- Drill Hole RCHE-10-143 intersected 7.5 meters containing 3.26 grams gold per
tonne and a separate interval intersected 6.0 meters containing 1.14 grams gold
per tonne.
- Drill Hole RCHE-10-142 intersected 24.0 meters containing 2.04 grams gold per
tonne.
- Drill Hole RCHE-10-145 intersected 28.5 meters containing 1.52 grams of gold
including 10.5 meters containing 2.49 grams of gold per tonne.
Complete results are in the accompanying table.
All drill holes are in the Las Calabazas area. Approximately 6,000 meters in 50
holes have now been completed in the current drill campaign making for a grand
project total of 38,300 meters in 227 drill holes. The on-going campaign is
expected to continue through June of this year. Upon completion of drilling, the
Company intends to update the existing resource estimate for the Cerro Jumil
deposit (see News Release October 1, 2008). Results of this estimate should be
available in the third quarter of 2010.
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 includes advanced metallurgical testing, 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 citizens as the project advances.
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.
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Cerro Jumil RC Drill Holes
April 19, 2010
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Grade
From To Interval (grams Au/
Hole (meters) (meters) Length tonne)
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RCHE-10-135 10.5 43.5 33.0 0.535
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RCHE-10-135 63.0 81.0 18.0 1.045
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RCHE-10-136 No significant intervals
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RCHE-10-137(i) 16.5 25.5 7.5 0.540
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RCHE-10-137 58.5 66.0 7.5 0.654
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RCHE-10-138 12.0 16.5 4.5 0.605
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RCHE-10-138 58.5 64.5 6.0 0.645
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RCHE-10-139(ii) 15.0 48.0 28.5 0.872
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RCHE-10-140 No significant intervals
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RCHE-10-141 10.5 37.5 27.0 1.172
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RCHE-10-142 0.0 16.5 16.5 0.879
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RCHE-10-142 39.0 63.0 24.0 2.036
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RCHE-10-143 0.0 6.0 6.0 1.136
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RCHE-10-143 15.0 22.5 7.5 3.258
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RCHE-10-144 24.0 30.0 6.0 0.736
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RCHE-10-145 0.0 28.5 28.5 1.522
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includes 15.0 25.5 10.5 2.493
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RCHE-10-146 118.5 144.0 25.5 1.636
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includes 120.0 129.0 9.0 2.020
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includes 136.5 144.0 7.5 2.272
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RCHE-10-147 27.0 33.0 6.0 1.782
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RCHE-10-147 94.5 123.0 28.5 1.844
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RCHE-10-148 34.5 48.0 13.5 2.076
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RCHE-10-149 67.5 76.5 9.0 0.950
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RCHE-10-149 88.5 97.5 9.0 1.017
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RCHE-10-150 51.0 66.0 15.0 1.740
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RCHE-10-151 15.0 25.5 10.5 3.794
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RCHE-10-151 55.5 148.5 93.0 1.813
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includes 63.0 73.5 10.5 3.198
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includes 121.5 132.0 10.5 4.243
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(i) no sample recovery from 19.5-21.0 meters
(ii) no sample recovery from 16.5-18.0 meters and 28.5-31.5 meters
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 absorption 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.
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