SCORPIO MINING INTERSECTS BONANZA SILVER-ZINC GRADES AT
NUESTRA SENORA, SIGNS JOINT VENTURE WITH FREEPORT MCMORAN ON
LA VERDE
SCORPIO MINING CORPORATION June 09, 2000
58 WATER STREET, SUITE 500 CDNX Symbol: SPM
VANCOUVER (BC) V6B 1B2 Issued and Outstanding : 3,393,665
SCORPIO MINING INTERSECTS BONANZA SILVER-ZINC
GRADES AT NUESTRA SENORA, SIGNS JOINT VENTURE WITH
FREEPORT MCMORAN ON LA VERDE
Over the past several weeks, Scorpio Mining Corp. has intersected bonanza
grade drill intervals on the Nuestra Senora project in western Mexico
(including 2.8 metres of 54.9 oz/t Silver and 28.66% Zinc). Secondly, a
joint venture with Freeport-McMoRan Copper and Gold, one of the world's
most successful mining companies, has just been announced, with drilling to
start later this month on Scorpio's 100% owned La Verde Grande project,
located just 200 km south of the U.S. border.
NUESTRA SENORA is the company's primary project. Located 120 km NE of
Mazatlan, Mexico, it's focus is on exploring and developing a 'past
producing mine complex' where ASARCO mined from four deposits, abandoning
the project in the early 1960s when mining laws became unfavourable to
foreign companies. Today, Mexico is rated as one of the best countries to
explore for, and mine, mineral deposits. Currently, the company is in the
process of releasing the remaining drill hole results from a recently
completed, first phase delineation drilling program on the Candelaria
Ag-Cu-Zn-Pb deposit (3,000m). Underground development work is underway in
preparation for a bulk-sampling program scheduled later this year. The
drilling to date has successfully extended high-grade polymetallic
mineralization to depth below the past-producing Candelaria mine, and
remains open in all directions.
LA VERDE GRANDE is located near Hermosillo, Sonora State (Mexico). This
high priority porphyry copper project was recently joint-ventured with
Freeport. The first-ever drill program on the project is expected to begin
later this month. The targets consist of a series of very prominent
geochemical and geophysical anomalies, square kilometres in size, strongly
suggestive of Porphyry Copper mineralization. Freeport has already
completed several phases of exploration, which have lead up to the signing
of the 'agreement and imminent drill program.' Also on the property, and
further supporting the porphyry exploration model, are numerous Copper-Zinc
skarn occurrences, several with limited historic mining.
SCORPIO MINING is a newly listed company (Feb 2000), with a small market
capitalization of approximately $3.5 million and an outstanding property
portfolio. The upcoming drill program on the La Verde porphyry target, and
release of continued positive results from the Nuestra Senora drill program
will enable Scorpio to attract a wide audience within the investment
community. We welcome your inquiries and look forward to an active summer.
Andrew Cook, Director
Scorpio Mining Corporation
For further information, contact the company by phone at (604) 682-8236, or
by e-mail at info@scorpiomining.com. The La Verde Grande, Nuestra Senora
and Lac Arsenault, Canada, projects may be reviewed in more detail at our
web site www.scorpiomining.com. |
