Ecometals Announces Plans for Accelerated Exploration Activity at New Surface Gold Discovery at Rio Blanco on the Rio Zarza Gold Project, Ecuador
TORONTO, ONTARIO -- (Marketwire) -- 10/03/11 -- Ecometals Limited (TSX VENTURE: EC)(BERLIN: GDQ)(FRANKFURT: GDQ) is pleased to announce positive results from its review of a recent discovery of visible gold in a Suarez Fm outcrop along the Rio Blanco in a North South oriented structure parallel to Fruta del Norte. As a result it intends to conduct accelerated exploration activities in this area. The extent of this occurrence will be investigated by a program of surface trenching and channel sampling in order to determine future drill targets.This will be carried out in conjunction with its deep drilling activity in the Misahualli - Suarez basin at Rio Blanco where the latest drill assay results for hole 4 indicated relatively significant levels of silver (32.9g/t over 21m including 100g/t over 4m) and also copper, indicating significant epithermal mineralisation. Deep drill holes RZDDH11-05 and RSDDH11-06 in the south basin have recently been completed and assay results are awaited.
The significance of this visible gold discovery is that it occurs in outcrop rather than alluvial sediments of unknown provenance, and is accompanied by pervasive silification alteration which is a characteristic of epithermal mineralisation and a key indicator that led to the discovery of Fruta del Norte.
Ecometals also takes this opportunity to announce the filing on SEDAR of the Company's quarterly financial statements and MD & A to June 30, 2011.
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 is under the direct supervision of the Qualified Person and follows industry standard QA/QC protocols.
William Lamarque, CEO, stated:
'The Board of Ecometals has recently completed its review of the recent exploration results presented to it by S. McMullan and noted the intriguingly high silver levels in Hole RZ DDH11-04 in the Misahualli - Suarez basin as evidence of epithermal mineralization of a promising nature ; it is also highly encouraged by the discovery of a normally submerged outcrop at Rio Blanco containing visible gold in veins.'
About Ecometals
Ecometals Limited is a Canadian TSX Venture Exchange listed mineral exploration and development company focused on the mineral resources in Latin America. Apart from its gold exploration in Ecuador, Ecometals also has significant manganese, iron and gold projects in Brazil at grass roots exploration and development planning stages.
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Such forward looking statements include references to the promising nature of epithermal mineralisation at Rio Zarza and potential gold discovery at Rio Blanco. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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Contacts:
Ecometals Limited
William Lamarque
Chief Executive Officer
wglamarque@ecometalslimited.com
Ecometals Limited
Andrew Robertson
Chief Financial Officer
arobertson@ecometalslimited.com
Ecometals Limited - Information
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www.ecometalslimited.com