Esperanza Stakes New Mexican Exploration Properties
May 10 2010 - 6:30AM
Marketwired
Esperanza Silver Corp. (TSX VENTURE: EPZ)(PINK SHEETS: ESPZF) is
pleased to provide this update on its recent exploration activities
in Mexico. Esperanza currently controls 36,000 hectares within
three new projects within the Guerrero-Morelos Gold Belt. This
newly emerging gold region already contains more than 15 million
ounces of gold from at least five known gold skarn deposits. Cerro
Jumil, the Company's feasibility-stage project, forms the northern
limit of the belt. All properties are 100% owned by Esperanza. This
year, the Company will focus on advancing these properties through
to drill-readiness while continuing to generate new prospects.
Biricu Project, Guerrero
The Biricu concession, comprising 24,000 hectares, is the direct
on-strike extension of four skarn deposits (Bermejal, Los Filos,
Nukay, and Morelos) that contain more than 14 million ounces gold.
The first two deposits are currently production, and the fourth is
entering feasibility studies. This is extremely prospectable ground
and Company geologists are actively investigating it. Esperanza
plans detailed mapping and sampling of the claim block together
with a likely geophysical exploration program.
Mercury Mines, Morelos
Located northwest of Cerro Jumil, the Mercury Mines area
consists of a rediscovered historic mercury district. There are a
half dozen old mines and numerous prospect pits scattered
throughout the area, the limits of which remain open. Historic
production from these mines is estimated at 20,000 tonnes. Our
initial sampling returned up to 11 ppm silver, anomalous gold as
well as extremely strong indications of epithermal mineralization.
The Mercury Mines area is interpreted as a high level hot spring
type system, separate and distinct from Cerro Jumil, with excellent
chances for associated precious metal mineralization. In 2010, we
plan to map and sample the area in detail so as to advance it to
drill-ready status.
La Providencia, Guerrero
The La Providencia prospect, comprising three separate
concessions totaling 2,500 hectares, contains epithermal hot spring
systems with extensive alteration (jasperoid, chalcedonic veining,
and manganese oxides) and historic small scale mercury mines. Our
initial sampling revealed strong geochemical anomalies with silver
values up to 25 ppm and anomalous gold. We will proceed with
detailed mapping and sampling of the prospect, advancing to
drill-ready status by year end as positive results are
received.
More information about the projects mentioned above can be found
on the Company's website at:
http://www.esperanzasilver.com/newproject_mexicomap.php.
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: Paul Bartos, Ph.D. and Vice President / Chief
Geologist, Esperanza Silver Corp. is the Qualified Person (QP)
under NI 43-101 responsible for the Mexican exploration program. He
has verified the 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.
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: 1-866-890-5509 info@esperanzasilver.com
www.esperanzasilver.com
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