Ecometals Announces Assay Results for Hole RZDDH10-07 and RZDDH10-08, Rio Zarza Gold Project, Ecuador
TORONTO, ONTARIO -- (Marketwire) -- 10/05/10 -- Ecometals Limited (TSX VENTURE: EC)(BERLIN: GDQ)(FRANKFURT: GDQ) -
Ecometals Limited announces receipt of analytical results from drill hole RZDDH10-07 and RZDDH10-08 on the Rio Zarza gold project in Ecuador.
Highlights
-- The deep diamond drilling programme completed 8 holes to target depth
for a total of 4700m
-- Anomalous Au intersections partly controlled by chrono-stratigraphic
horizon at Suarez-Misahualli unconformity suggest geochemical leakage
from mineralized source towards the structural and depositional centre
of the basin
-- Intersection of 1.245g/t Au over 2m composite sample in RZDDH10-08 at
depth of 646m to 648m suggests deeper mineralized source possibly
related to floor of basin
-- Other shallow targets to be investigated with small diamond drill rig,
while deep-looking geophysics surveys to be undertaken to identify
targets at basin floor and towards basin centre
-- Phase II of the deep diamond drilling to follow compilation of results
to date, planned to restart January 2011
-- Ecometals opinion is that the deep drilling programme to date has been a
technical success and the results warrant continued drilling
Summary Geology Hole RZDDH10-07
-- Drill hole RZDDH10-07 is located at UTM777634E/9582945N (PSAD56/UTM17S)
elevation 1598m, azimuth 315 degrees and inclination -70 degrees
-- Intersected 0 to 94.75m of Hollin Fm sandstone, shale and carbonaceous
mudstone, 94.75m to 435.10m Fruta Andesite, pervasive propyllitic
alteration with zones of carbonate-alunite- silica veins +/-chalcopyrite
-- From 435.10 to 501.8m Suarez Fm polymictic conglomerate, sandstone,
wacke and carbonaceous mudstone, conglomerate clasts dominantly
granodiorite and quartz feldspar porphyry and minor chert and volcanics.
Alteration zones include illite-smectite-chlorite and silicification
with disseminated and veinlet pyrite and chalcopyrite. The Suarez and
Misahualli volcanics are interfingered at the base of the sequence, and
a significant fault zone was encountered at 490 to 500m.
-- From 501.8m to 613.3m is variously silicified, carbonate veined,
propyllitic altered porphyritic andesite of the Misahualli Fm
-- Geochemical anomalous levels of Au and base metals at base of Fruta
Andesite and sub-Suarez unconformity with Misahualli Fm
-- Alteration assemblages indicate this is in the distal hydrothermal halo
Summary Geology Hole RZDDH10-08
-- Drill hole RZDDH10-08 is located at UTM777652E/9583023N (PSAD56/UTM17S)
elevation 1585m, azimuth 315 degrees and inclination -70 degrees
-- Intersected Hollin Fm sandstone to 90.8m, Fruta andesite to 389m, Suarez
Fm conglomerate, wacke and sandstone to 501m
-- The contact of the Suarez sediments and Misahualli Fm volcanics is
interlayered from 501 to approximately 505m indicating contemporaneous
deposition
-- From 505m to end of hole 656.4m intersected feldspar porphyritic
andesite of the Misahualli Fm with various overprinted alteration facies
including chlorite-carbonate, epidote, and veins of quartz-carbonate
with pyrite and chalcopyrite
-- Generally low level Au through the Suarez-Misahualli section, one
intercept of 1.245g/t over 2m composite sample of quartz veins in
feldspar porphyritic andesite from 646 to 648m depth
The section through this hole indicates there is a chrono-stratigraphic component to anomalous Au, following the lower Suarez-Misahualli Fm unconformity. This may be geochemical leakage following the hydrogeological pathway from hydrothermal mineralization towards the depositional centre of the basin.
The highest grade intersection is 1.245g/t Au in with quartz veins, which is some 150m below the unconformity. This indicates that there is mineralization below the sub-Suarez unconformity, and the floor of the basin (ie. contact of the Misahualli and the Zamora Batholith is a conceptual target.
Sample Preparation, Analytical Protocol and Quality Control
Drill core samples were taken from half core split with a diamond saw, and composited over 5m intervals in the Hollin Fm and 2m in the Suarez and Misahualli Fms. Composite samples were crushed to 70% passing 2mm and riffle split 250g subsample for pulverizing to 85% passing 75 microns for analysis.
Samples were prepared at the ALS Chemex sample preparation laboratory in Quito, and analysed at the ALS Chemex South American regional laboratory in Lima, Peru. Gold was assayed using the fire assay technique, and multi element analysis using ICP-MS.
Control samples are included in each batch of 100 drill core samples, including 6 Certified Reference Material (CRM), 5 field duplicates prepared from quartered split core, and 4 blanks. CRM and blank material is internationally certified and supplied by Ore Research and Exploration (Pty) Limited (OREAS) in Australia.
Quality control results indicate there is no apparent analytical bias or systematic contamination of samples, and analyses are accurate compared to CRM stated performance criteria.
Qualified Person
SR McMullan, P.Geo, Vice President of Exploration for Ecometals Limited, is a qualified person according to National Instrument 43-101 definition and has prepared the technical information included in this press release. Drilling, logging, sampling and dispatch were under the direct supervision of the Qualified Person.
About Ecometals
Ecometals Limited is a TSX Venture Exchange listed mineral exploration and development company focused on the mineral resources in Latin America. Apart from its gold projects in Ecuador, Ecometals also has significant manganese, iron and gold projects in Brazil at grass roots exploration and development planning stages.
Chief Executive Officer Fran Scola said, 'The first phase of diamond drilling on the project has provided significant geological encouragement, particularly the indications of gold mineralization towards the basin centre and at depth. The ongoing work including compilation of results and geophysical surveys is aimed towards developing targets for the next campaign planned to start in January 2011. We are pleased at the efforts of the Ecuador team, and encouraged by the technical success of the programme thus far.'
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These include risks relating to changes in economic or environmental conditions and the company's ability to execute its business model and strategic plans. The company relies on litigation protection for forward-looking statements.
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Contacts:
Ecometals Limited - Investors
Fran Scola
Chief Executive Officer
scola@lfmpartners.com
Ecometals Limited - Investors
Daniel Major
Chief Operating Officer
djmajor@ecometalslimited.com
Ecometals Limited - Information
Enquiries
info@ecometalslimited.com
www.ecometalslimited.com