ECU Silver Files New NI 43-101 Technical Report on Its Velardena District Properties
Mon Jan 26, 6:23 PM
ca.news.finance.yahoo.com
TORONTO, ONTARIO--(Marketwire - Jan. 26, 2009) - ECU Silver Mining Inc. ("ECU Silver" or the "Company")(TSX: ECU.TO) is pleased to announce that it has completed its new Independent National Instrument 43-101 ("NI 43-101") compliant technical report (the "Report") on its Velardena District Properties in Durango State, Mexico (the "Velardena Properties") and it has been filed at www.sedar.com.
The Report is authored by William (Bill) J. Lewis B.Sc., P.Geo., Senior Geologist, MICON International Limited ("MICON").
ECU Silver previously announced the results of the resource estimate (see Press Release: December 10, 2008) which has defined the following mineral resources:
NI 43-101 Resource Estimate:
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Silver Equivalent Silver Equivalent
(Gold and Silver) (All Metals)
(ounces) (ounces)
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Measured & Indicated 36,486,000 39,706,000
Inferred 248,109,000 391,024,000
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The Report also details additional mineral potential (also announced in the Press Release: December 10, 2008) that exists within the Velardena Properties that has not been included in the mineral resource estimate. The estimate of mineral potential ("Mineral Potential") has been reviewed by MICON.
- Mineral Potential: 569,524,000 to 930,400,000 ounces of silver equivalent.
The Resource Estimate is based on 46 veins and includes the sum of mineral resources from the main Velardena Property, the Chicago Property and 50% of the joint venture San Diego Property. All of these properties are within close proximity to each other.
Additional veins at Velardena, which are well known and have been identified through surface sampling and/or underground workings, require further evaluation. A number of veins have not been included because current assays did not meet the cut-off criteria. It is anticipated that more veins exist in the Velardena Properties based on past geological mapping.
Cautionary Statements:
Readers are cautioned that there are no assurances that all or any part of the Resource Estimate or that all or any part of the Mineral Potential will be economically viable and although the information in this press release is based on the best available data the Company has collected to date, a material difference between the actual results and the Company's expectations may arise once further exploration is completed.
Until a prefeasibility study is completed, there are no assurances the release of an updated mineral resource will be economically viable.
The Mineral Potential of the Velardena District property is conceptual in nature and there has been insufficient exploration conducted within the mineral potential evaluation to define a mineral resource. It is also uncertain if further exploration will result in the targets being delineated as mineral resources.
The Mineral Potential exists because the true extent of the mineralization within the veins, vein packages and skarn has not been fully identified. Many of the veins and vein packages in the Velardena Properties remain open along strike in both directions and at depth. The reader should note that the Mineral Potential cannot be estimated to the same accuracy as a Mineral Resource and as such it must be stated as a range of figures.
About ECU Silver
ECU Silver Mining Inc. is focused on the exploration, development and mining of precious and base metals at its Velardena District Properties in Durango, Mexico. The area is comprised of three properties, the Main Velardena Property, the Chicago Property and the San Diego Joint Venture Property. The properties contain a measured and indicated mineral resource of 40 million silver equivalent ounces and an inferred mineral resource of 391 million silver equivalent ounces. ECU's mission is to become a pre-eminent silver and gold producer through the development of existing and additional potential resources in the Velardena district. ECU Silver is listed on the Toronto Stock exchange under the symbol ECU.
Statements in the release that are "forward-looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. We undertake no duty to update any forward-looking statement to conform the statements to actual results or changes in our expectations.
Contacts
Michel Roy
ECU Silver Mining Inc.
Chairman and CEO
011 52 871 747 5750
Stephen Altmann
ECU Silver Mining Inc.
President
(416) 366-2428
(416) 366-8131 (FAX)
Website: www.ecu.ca |
