ECU Silver Finds New Mineralization in Upper Levels of the Santa Juana Mine
TORONTO, ONTARIO -- (Marketwire) -- 08/19/11 -- ECU Silver Mining Inc. (TSX: ECU) is pleased to announce that through its ongoing underground development, it has uncovered the upward continuity of several mineralized veins known as the 'A' veins package. These veins were mined individually on level 17 and are currently being mined on the lower levels 18 and 19. In the upper levels, from level 14 to 17, the veins were mined intermittently. The total height of the active mining area where these veins are located, between levels 12 and 19, is 260 meters (853 feet). The upward continuity of the 'A' veins package, from level 12 to surface is 300 meters (984 feet).
In the block formed by the 'A' veins package, there is a 100 meter (328 feet) long section where the veins are closer to one another and bulk mining can be considered. In the mining levels between levels 12 and 19, the section of veins has an average width of 35 meters (115 feet) representing a total volume of more than 3,000,000 tonnes of mineralized material within the 260 meters (853 feet).
The information on the upward extension of the 'A' veins package was recently discovered when the system was encountered while driving a new ramp starting on level 12. A cross-cut was driven from that ramp to test the 'A' veins package and the average following assay results were obtained: 1.18 g/t gold, 307 g/t silver, 0.33% lead, 0.36% zinc and 0.31% copper over a total drift length of 24 meters (79 feet).
Michel Roy, CEO and Chairman of ECU stated, 'The upward continuation of the 'A' veins package, with interesting precious metals grades, is encouraging as it constitutes a readily accessible source of feed for our flotation mill and any future expansion of our milling capacity.'
The Company is also continuing the deep drill hole below the Santa Juana mine and has now entered the target zone below the massive sulphide originally intercepted in drill hole SJ-18-21. The drill has intersected 200 meters (656 feet) below the planned projection of the massive sulphide zone encountered above. Mineralization was cut over a core length of more than 20 meters (66 feet). Visually, it is a mixture of calcite, quartz and sulfides. This appears to be a repetition of the variation in the mineralization of the A4 vein intercepts, 1,200 meters (3,937 feet) above, which is to be the upward continuity of this deep zone. In the upper mined levels of the A4 vein, the mineralization vary from massive sulfides, containing high levels of lead and zinc with variable precious metals, to a mixture of calcite and sulfides with much lower lead and zinc but better average grades of precious metals and copper. Assays are pending.
Michel Roy, CEO and Chairman of ECU stated, 'There is a strong similarity of the mineralization in this first daughter hole compared to the mineralized material mined 1,200 meters (3,937 feet) above. More daughter holes are planned as soon as this one is completed.'
On June 24th, the Company announced that it had entered into an agreement to merge with Golden Minerals Company ('Golden Minerals') to create an exciting new junior precious metals mining company. The details of the proposed merger have been documented in detail and have been sent out to the respective shareholders of each company. Securityholder votes will be registered at a special meeting of shareholders for both companies to occur on August 30, 2011.
Cautionary Statements
Readers are cautioned that until a prefeasibility study is completed, there are no assurances these latest mineralized zones will be economically viable.
All widths are true widths. Samples were assayed at the ERSA laboratory in Torreon, Coahuila, Mexico which is currently in the process of being certified. Mr. Michel Roy, P. Geo., a 'qualified person' within the meaning of NI 43-101, prepared the technical information disclosed in this news release.
Cautionary Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, the proposed construction of a mill, business and financing plans, business trends and future operating revenues. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any minerals produced, the Company's inability to obtain any necessary permits, consents or authorizations required for their activities, to produce minerals from their properties successfully or profitably, to continue their projected growth, to raise the necessary capital or to be fully able to implement their business strategies. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this Press Release.
Contacts:
Michel Roy
Chairman and CEO
Torreon, Mexico
011 52 871 747 5750
Stephen Altmann
President
Toronto, Canada
(416) 366-2428
Mark Butler
Investor Relations
Toronto, Canada
(905) 602-4248