PR Jan. 3, 07 3rd drill assays, San Luis, Ayelen
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Wed Jan 3, 2007
Drilling Expands High-Grade in Ayelén Vein at San Luis
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Vancouver, B.C. - Esperanza Silver Corporation (TSX.V: EPZ) and Silver Standard Resources Inc. (TSX: SSO; NASDAQ: SSRI) are pleased to announce results from drill holes SL06-11 to SL06-16 at their San Luis joint venture in central Peru. All drill holes were completed on the Ayelén Vein.
Bonanza Gold and Silver Grades Continue
Significant drill intercepts include:
* in Hole SL06-016, an angled hole drilled below Trench A-19, 35.8 feet averaging 1.46 ounces per ton gold and 26.7 ounces per ton silver (10.9 meters averaging 50.16 grams per tonne gold and 914 grams per tonne silver). This intercept included an interval of 18.0 feet averaging 2.68 ounces per ton gold and 44.0 ounces per ton silver (5.5 meters averaging 92.01 grams per tonne gold and 1508 grams per tonne silver).
* in Hole SL06-13, an angled hole drilled below previously announced drill holes SL06-9 and 10, 14.8 feet averaging 0.88 ounces per ton gold and 26.4 ounces per ton silver (4.5 meters averaging 30.09 grams per tonne gold and 906 grams per tonne silver).
Detailed results are provided in the table below.
San Luis Project Diamond Core Drill Results - December 2006
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- Gold Silver Gold Silver
(grams (grams Equiva- Equiva-
Inter- per per lent lent
val tonne/ tonne/ (ii) (ii)
From To (i) ounces ounces (ounces (ounces
Drill (meters/ (meters/ (meters/ per per per per
Hole feet) feet) feet) ton) ton) ton) ton)
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0.87 43.5
oz./t oz./t
SL06-11 63.1 64.7 1.6 18.84 549 AuEq AgEq
207.0 212.3 5.3 0.55 16.0
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SL06-12 Vein Not Intercepted
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1.41 70.3
oz./t oz./t
SL06-13 88.4 92.9 4.5 30.09 906 AuEq AgEq
290.0 304.8 14.8 0.88 26.4
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1.09 54.3
oz./t oz./t
SL06-14 34.3 35.5 1.2 19.88 866 AuEq AgEq
112.6 116.5 3.9 0.58 25.3
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0.41 20.4
oz./t oz./t
SL06-15 59.9 62.0 2.1 8.60 271 AuEq AgEq
196.5 203.4 6.9 0.25 7.90
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1.99 99.7
oz./t oz./t
SL06-16 42.9 53.8 10.9 50.16 914 AuEq AgEq
140.7 176.5 35.8 1.46 26.7
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3.56 178
oz./t oz./t
includes 44.5 50 5.5 92.01 1508 AuEq AgEq
146.0 164.0 18.0 2.68 44.0
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(i) True width to be determined.
(ii) Gold-equivalent ounces calculation assumes a 50:1 silver: gold ratio,
based on closing prices at October 27, 2006. Metallurgical recoveries have
not been determined and therefore have not been considered in the
gold/silver equivalent calculations.
Holes SL06-11 and 12 and holes SL06-14 and 15 were drilled 260 feet (80 meters) and 425 feet (130 meters) respectively to the south of holes SL06-01 and 02. Hole SL06-16 was drilled 540 feet (165 meters) to the north of holes SL06-01 and 02. The mineralization is open at depth and along strike. A location map is attached to this news release. (1)
To date the joint venture has completed 28 drill holes totaling 3764 meters. Results from the remainder of this drill program will be released as received.
Expanding Exploration Activities
Drilling will resume following Christmas break on Jan 8, 2007. The original rig will continue drilling along strike and at depth on the Ayelén vein. A second drill rig will begin testing the Inés vein. As previously announced (EPZ News Release June 22, 2006) surface channel sampling has identified a 246 foot section of the Inés vein averaging 0.45 ounces gold per ton and 11.9 ounces silver per ton over 10.7 feet in width (75 meters at 15.5 grams per tonne gold and 407 grams per tonne silver over 3.25 meters in width). Individual samples along the Inés vein were as high as 2.41 and 1.52 ounces gold per ton (82.8 and 52.2 grams per tonne gold). |
