Nice big change up 11% today. Heavy buying on pretty good Silver veins...
Southwestern Resources Corp.: High-Grade Silver Veins/Breccias Identified at the Pacapausa Project, Peru
08:00 EDT Tuesday, April 18, 2006
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 18, 2006) - Southwestern Resources Corp. (TSX:SWG) is pleased to announce that an extensive rock chip sampling program completed in 2005 on the Pacapausa Project has identified several areas underlain by low sulphidation epithermal vein systems containing high-grade silver veins and breccias, including several 'bonanza-grade' samples.
The Pacapausa Project is located in the Southern Peru Tertiary Volcanic Belt approximately 250 kilometres northwest of Arequipa and adjacent to the Explorador Silver Mine. The Pacapausa Project is comprised of 7,933 hectares of exploration concessions 100% owned by Southwestern and subject to an option agreement with Minera Oro Vega S.A.C. ("Oro Vega", a Peruvian subsidiary of International Minerals Corp.). Under the terms of the agreement, Oro Vega has an option to earn up to a 70% interest in the Pacapausa Project by meeting certain work commitments, completing a feasibility study and financing the project into production. Southwestern would retain a 30% participating interest if the project were put into production.
Full details of Oro Vega's rock sampling program are discussed below and highlights include:
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Assay-Range
Rock Chip ---------------------------
Sample Width Silver Gold
Zone Sample No. (metres) (grams/tonne) (grams/tonne)
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Patacocha 31 samples 0.2 x 1.0 to
5.0 x 5.0 0.27 to 756 0.004 to 0.95
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including Pato-010 0.5 x 1.0 118 0.32
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including Pato-014 0.3 x 1.0 756 0.31
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Cusama 84 samples 0.15 x 0.5 to
5.0 x 5.0 0.30 to 1,345 0.05 to 5.60
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including Pato-042 5.0 x 5.0 101 0.30
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including Pato-047 5.0 x 5.0 196 2.35
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including Pato-062 0.2 x 0.6 1,345 0.62
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including Pato-065 0.5 x 3.0 185 0.23
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including Pato-068 0.2 x 1.5 112 0.19
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including Pato-079 0.8 x 5.0 124 3.19
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including Pato-081 1.0 x 5.0 129 0.42
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including Pato-087 0.2 x 3.0 270 2.63
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Minas 80 samples 0.15 x 1.5 to
3.0 x 5.0 2.92 to 2,250 0.02 to 1.78
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including Pato-091 0.5 x 3.0 994 0.15
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including Pato-097 0.2 x 5.0 1,500 0.36
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including Pato-099 0.2 x 3.0 521 0.13
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including Pato-101 1.0 x 2.0 2,250 0.31
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including Pato-103 0.36 x 3.0 621 0.16
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including Pato-105 0.5 x 4.0 2,100 1.42
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including Pato-107 0.5 x 2.0 436 1.12
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including Pato-111 3.0 x 6.0 438 0.36
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including Pato-141 1.0 x 2.0 1,130 1.02
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including Pato-147 1.0 x 4.0 629 1.00
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including Pato-149 0.5 x 4.0 818 0.89
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including Pato-153 1.0 x 3.0 507 1.00
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including Pato-160 0.2 x 0.2 457 1.57
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including Pato-166 0.6 x 0.2 346 0.45
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including Pato-168 0.4 x 0.2 315 0.75
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including Pato-177 0.5 x 4.0 534 0.43
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including Pato-178 1.0 x 3.0 173 0.27
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including Pato-179 2.0 x 5.0 118 0.49
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including Pato-183 1.0 x 4.0 2,090 1.78
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The Pacapausa Project is underlain by several prominent northeast-southwest structural corridors within a zone 3,000 metres in strike length and 200 metres to 1,000 metres in width. Within this corridor, numerous vein systems and associated peripheral breccias have been identified and sampled extensively. A first phase drilling program by Oro Vega is expected to commence in the second half of 2006.
Oro Vega, the project operator, collected 195 rock chip samples in three exposed mineralized zones. The average grade of all 195 samples assayed 133.5 grams per tonne (g/t) silver, with assay values ranging from 0.27 g/t to 2,250 g/t silver and trace to 5.6 g/t gold. Of the 195 samples collected, 161 samples came from the Minas and Cusama zones and averaged 163 g/t silver. Within the Minas and Cusama zones, individual veins and peripheral breccias are quite variable in outcrop size with larger zones extending for 1,100 metres and averaging 40 metres in width. Vein systems trend northeast-southwest and east-west. The presence of peripheral breccia zones and stockworks represent potential for a larger bulk mineable targets.
The Pacapausa Project, based on results to date, hosts a low sulphidation high-grade silver vein and breccia target with subordinate gold. Oro Vega plans an aggressive exploration program in 2006.
Quality Control
Oro Vega is operator of the Joint Venture. Samples are sent to the ALS Chemex laboratory in Lima, Peru for sample preparation and analysis using standard industry methods. ALS Chemex is an ISO 9002 registered laboratory and is preparing for ISO 17025 certification. Rock samples are crushed to greater than 70% passing 10 mesh, and pulverized to greater than 85% passing 200 mesh. A fraction of the pulps is analyzed for gold by fire assay and AAS. Another fraction of the pulps is digested in aqua regia acid digestion and is analyzed for 50 elements by ICP-AES+MS. Higher grade lead, copper and zinc analyzes are further analyzed by AAS. High-grade gold and silver values are analyzed by fire assay and gravimetric finish.
Southwestern's qualified person for the project is John Paterson, M. AUSIMM, President of the Company, who has verified the technical information reported in this News Release.
Southwestern Resources Corp. is exploring in several countries for precious and base metals. The Company has a number of significant projects including the Boka Gold Project in China with Team 209, where a major drilling program is being conducted, the Liam Gold-Silver Project in Peru with Newmont Peru Limited and the Antay Porphyry Copper-Gold Project in Peru with Anglo American Exploration Peru S.A. as well as the 100% owned Accha Zinc Project in Peru. The Company is also exploring for porphyry copper-gold in a large area of southwestern Yunnan Province, China under a Joint Venture with Newmont Overseas Exploration Limited.
Forward-Looking Statement
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.
FOR FURTHER INFORMATION PLEASE CONTACT:
Southwestern Resources Corp.
Timo Jauristo
VP, Corporate Development
(604) 669-2525
(604) 688-5175 (FAX)
info@swgold.com
www.swgold.com
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