ECU Silver Provides Update on Deep Drilling of Massive Sulphides
TORONTO, ONTARIO -- (Marketwire) -- 04/05/11 -- ECU Silver Mining Inc. (TSX: ECU) is pleased to report on the status of the high-performance deep hole diamond drill that arrived on site at the Velardena Property on March 23, 2011.
The drill is currently reaming drill hole SJ-08-21 which initially intersected two massive sulphide veins (the M-S veins). Reaming is being completed by drilling a larger diameter hole, the parent hole, around the original drill hole SJ-08-21.
The high performance drill is using an NQ drill bit with a hole diameter of 76 millimeters (3 inches) to create the parent hole and has, to date, reached approximately 200 meters (656 feet) in depth. The plan is to have the high-performance drill, ream to 800 meters (2,625 feet) at which point, the drill will start coring from the 800 meter depth.
The objective of the first hole will be to deepen the original drill hole SJ-08-21 beyond the two massive sulphide veins that were initially intersected (see Table 1). The original drill rig used in the discovery of these two intercepts was not capable of drilling to lower depths and stopped at the second intercept.
Table 1: Intercepts of drill hole SJ-08-21
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Silver Core
Silver Equivalent Length
Gold (g/t) (g/t) Lead (%) Zinc (%) (g/t) (m)
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M-S Vein 1 3.66 295 7.87 12.07 1,100 12.04
M-S Vein 2 7.90 550 11.25 27.68 2,180 1.75
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Note: Silver and gold equivalents are calculated based on current commodity
at time of original press release dated July 9, 2008.
Following the completion of the first drill hole, four daughter holes will branch off the main parent borehole. These daughter holes will test multiple targets to verify the continuity of the mineralized zones.
Mr. Michel Roy, P. Geo., a 'qualified person' within the meaning of NI 43-101, prepared the technical information disclosed in this news release.
About ECU Silver
ECU Silver Mining Inc. is focused on the exploration, development and mining of gold, silver and base metals at its Velardena District Properties in Durango, Mexico. The Company holds a N.I. 43-101 compliant mineral resource of 40 million silver equivalent ounces in the measured and indicated category and 391 million silver equivalent ounces in the inferred category. The Company also owns two mills with a combined capacity of 820 tonnes per day. ECU's mission is to become a pre-eminent silver and gold producer through the development of its existing and potential mineral resources at Velardena.
Cautionary Statements
Readers are cautioned that there are no assurances that all or any part of ECU Silver's mineral resource will be economically viable. Until a prefeasibility study is completed, there are no assurances the release of an updated mineral resource will be economically viable.
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:
ECU Silver Mining Inc.
Michel Roy
Chairman and CEO
Torreon, Mexico
011 52 871 747 5750
ECU Silver Mining Inc.
Stephen Altmann
President
Toronto, Canada
(416) 366-2428
ECU Silver Mining Inc.
Mark Butler
Investor Relations
Toronto, Canada
(905) 602-4248
