ECU NR on 4/3/06
ECU Silver Mining Inc (C-ECU) - News Release
ECU Silver drills 14.4 m of 4.02 g/t Au and 1.73% Zn
2006-04-03 16:42 ET - News Release
Shares issued 183,482,681
ECU Close 2006-04-03 C$ 1.85
Mr. Michel Roycell reports
ECU Silver Mining Inc.'s initial drilling results from the contact zone that contains various skarn sections have confirmed several positive geological hypotheses. Within the contact zone, the targets were divided in two broad groups:
veins of massive or semi-massive sulphides; and
disseminated sulphides in the various rock units of the contact zone.
The veins can generally be found at the contact between the intrusive and skarn or within skarns or recrystallized limestones, while the disseminated sulphides can be found in all rock types, often in alteration zones surrounding massive sulphides.
In hole TA 17.5-03, 14 veins were encountered, nine of which are an entirely new group, and the remaining veins being the extensions of the five known veins in the Tres Aguilas sector. The discovery of these new nine veins is in addition to the 14 other veins discovered in early March (refer to news in Stockwatch dated March 8, 2006) on the other side of the Tres Aguilas fault. The most significant assays from the veins are listed in table 1-A below. Also, several skarn units were cut, with a 2.43-metre section grading 2.49 grams per tonne gold and 17 g/t silver being the most significant assay data received thus far, for skarn-hosted mineralization in that hole. More work is still being undertaken in this section and further assays are pending.
Table 1-A
DRILL HOLE NO. TA 17.5-03
Core
Sample length Au Ag Pb Zn Cu
No. (m) g/t g/t % % %
36554 0.28 4.48 1,545 0.2274 0.3614 8.9
36555 0.58 15.28 990 0.028 .1168 1.078
36557 0.2 9.54 4
36558 0.44 6.04 2
36566
-67 2.43 2.49 17 0.14 0.29 0.03
Hole No. TA 17.5-04 was drilled below TA 17.5-03 and cut the same geological units, about 120 metres deeper for the green zinc-bearing skarn. It cut through an additional five new veins, bringing the total for that area of the Santa Juana mine to 19 veins from these two holes before and within a thick green skarn unit. The most significant results are listed in table 1-B below. Several skarn units were cut, the most important being a 68.6-metre intercept with zinc mineralization containing gold and silver as disseminations or in veins and veinlets. This intercept averaged 1.08 g/t Au and 1.01 per cent zinc and included a 14.4-metre section grading 4.02 g/t Au and 1.73 per cent Zn. Furthermore, when the 68.6-metre skarn intercept was included as part of a wider 91.7-metre intercept, the grades averaged a minimum of 1.11 g/t Au, 8.56 g/t Ag and 0.76 per cent Zn despite the fact that a 19.7-metre section of the core was given a grade value of nil since assays on that part are still pending.
This 91.7-metre wider intercept included other types of skarns, veins and diorite dikes, while the 68.6-metre intercept covered only the green skarn hosting the zinc mineralization. Over all, the wider intercept is more representative of the contact zone that constitutes the main target for the current drilling campaign. This contact zone has a width varying between 100 to 250 metres on surface and can be followed for over 2,500 metres on the property. The initial area the current drilling program aims to explore corresponds to an 800-metre-long section below the known veins mined in the Santa Juana mine. It will first be tested over a height of 500 metres since all similar orebodies mined in the area yielded more than 500 metres of vertical extension.
Another assay worth noting is a 0.78-metre intercept in the recrystallized limestone that yielded 1.94 g/t Au and 1.23 per cent copper. The possible significance of this is further explained below.
Table 1-B
DRILL HOLE NO. TA 17.5-04
Core
Sample length Au Ag Pb Zn Cu
No. (m) g/t g/t % % %
36583 0.47 1.51 27
36599 0.20 7.86 191
36610 0.20 12.92 47
36595
-96 2.47 7.83 44 0.75 0.07 0.23
36603 0.27 14.66 411
36615 0.54 100.37 50 0.21 0.27
49
sam-
ples 65.0 1.14 7.92 0.13 1.07
32
sam-
ples 41.98 1.59 6.73 0.09 1.40
11
sam-
ples 14.4 4.02 8.08 0.09 1.73
Pend-
ing 91.7 1.11 8.56 0.11 0.76
36639 0.78 1.94 18 1.23
The most important aspects of these results from a geological point of view, are as follows:
The thickness of the veins continues to increase as the company drills deeper and the grades are at least as good as what is currently being mined above.
Green garnet-bearing skarns were encountered with a significant increase in thickness and grades in the deeper hole. This type of skarn is associated with several of the larger regional deposits mined in the last century.
The size of the zinc-bearing (green garnet) skarn intercept in hole TA 17.5-04 suggests that a significant lower-grade mineralized zone could be defined below the known mineralized veins of the Santa Juana mine, which has been followed, including both sides of the Tres Aguilas fault, for approximately 800 metres horizontally with the eastern limit yet to be reached.
The mineralized section of the skarn also contains gold, 1.14 g/t Au over 68.6 metres or 4.02 g/t Au over 14.4 metres.
A section of the recrystallized limestone contained disseminated sulphides and yielded interesting gold and copper assays. This type of zone is often encountered as an alteration envelope around large massive sulphide bodies included in the limestones. This amply justifies drilling deeper in an attempt to encounter such a massive sulphide body.
The initial results confirm that the company was correct in its hypothesis to focus the initial drilling at depth below the currently mined high-grade veins of the Santa Juana mine. The company will extend this program to encompass all of the 800-metre-by-500-metre initial target zone before expanding to test the remaining portion of the contact zone located on its property.
The grades and thicknesses obtained in hole TA 17.5-04 are similar to some of the largest orebodies being mined in Mexico.
"The company is extremely pleased with the results from our initial contact with the skarn units. While much further work is still required to better define the entire sections and subsections, all data received to this point has been most encouraging," noted Michel Roy, president and chief executive officer of ECU Silver Mining. "Knowing that the geology for this entire mining area is very much identical and also having hard data of the vast quantities of ore our neighbours have already mined, we are off to an excellent start in our current drilling program and we remain confident of further success as we continue to drill deeper and laterally."
Further assays are pending from both of these holes as all skarn units are being assayed, as well as mineralized intrusive and mineralized recrystallized limestones. The current drill hole is testing the same area below hole TA 17.5-04 to verify if grades and thicknesses continue to increase as the company goes deeper within the contact zone. Several other targets are being probed by the same hole and the company will issue further press releases as results become available. Then the drill will be moved east to repeat this drilling pattern below better-grade veins being mined there.
All the samples represent the core length and may not be representative of the true width although it should be between 70 and 95 per cent of core length according to the company's current interpretation. Samples were assayed at ERSA, in Torreon, Coahuila, and at SGS facility in Durango, Durango, Mexico. Property-specific quality control samples were inserted at regular intervals in the sample sequence.
Mr. Roy, PGeo, a qualified person within the meaning of National Instrument 43-101, prepared the technical information disclosed in this news release.
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