ECU Silver Mining Inc.: Acquires Two Additional Properties
- Acquisition of the San Agustin claim block;
- Acquisition of the Denisse property.
- On the Denisse property a brecciated structure is encountered over 30 meters '98.4 feet' wide and 800 meters '2624 feet' in length
TORREON, COAHUILA--(CCNMatthews - Nov. 15, 2006) - ECU Silver Mining Inc. (TSX VENTURE:ECU) 'the Company' is pleased to announce the acquisition of two new properties in Mexico. The company considers both acquisitions to be important land claims that will compliment and enhance our current land base in Mexico.
Purchase of strategic land claims - The San Agustin claim block
The San Agustin claim adjoins our Chicago property whose acquisition was reported (Company's press release dated May 11th, 2006). The San Agustin claim was an outright purchase for US$70,000. The Company is of the opinion that our Chicago property may play a major role in future resources expansion and the outright acquisition of the San Agustin claim will give the Company firmer control on the favorable geology in the Chicago mine area. Furthermore, the Company intends to have a surface drill initiate a drilling program on the Chicago property in the near future. Recent preliminary work on existing data on the Chicago claims revealed similar geological traits to our Santa Juana mine and the Company has decided to explore the Chicago property sooner rather then later.
Purchase of a second of strategic land claims- The Denisse property
The Company also wishes to report that is has also acquired the Denisse property. This property comprises 4 claims totaling 1,250 hectares and was purchased for a total sum of US$500,000 over three years, of which US$50,000 having been paid on signing of the agreement, and a 2% Net Profit Royalty that can be purchased for US$300,000. The Denisse claims are located in the East part of the Sierra del Jaguey, 29 km south of Torreon and 23 km north-east of our San Diego project.
The Sierra del Jaguey, oriented NW-SE, is part of the parallel sierras and valleys forming the north-western part of Mexico. It is underlained mostly by limestones of the Aurora Formation dipping to the north-east at 25-30 degrees.
The mineralization discovered on the Denisse property is contained in the matrix of a silicified breccia zone striking E-W. The breccia zone is 30 meters wide and has been delineated over a strike length of 800 meters. The mineralization consists mostly of galena (lead sulfide), cerusite (lead oxide), iron oxides and quartz forming the matrix of the breccia.
In the preliminary evaluation of the property, channel and grab samples were taken by the Company's geologist and assayed yielding the following results:
TABLE
ccnmatthews.com |
