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Re: News Release - Friday, September 28, 2007
ECU Silver Announces New Vein Discovery and Exploration Update
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Highlights
.. New Vein Discovered near Santa Juana
.. Hole SJS 14-02 cuts new vein yielding 2.16 g/t gold, 148 g/t silver,
2.18% lead and 9.44% zinc over a core length of 1.8 meters (5.8 feet).
TORONTO ONTARIO, September 28, 2007 - ECU Silver Mining Inc. (TSX: ECU)
("ECU" or the "Company") is pleased to provide assay results of a new
vein discovery and an update on its exploration activities in Durango,
Mexico.
New Discovery
Recent drill holes have been aimed at testing the various major east -
west trending veins in the Velarde�a Property. These main veins, namely
Roca Negra, Terneras, San Juanes and San Mateo have been encountered
along with several smaller veins that are associated with the main
veins. Several of these smaller veins are of considerable interest to
us and we are awaiting assays and interpretation.
However, through our efforts on our known veins, the Company is pleased
to report that it has discovered a major vein, located north of the
Roca Negra vein, which is essentially the southernmost vein of the
Santa Juana mine system.
Other holes are planned to test this latest vein to confirm whether it
is an entirely new vein or the continuity of the "C0" vein which is a
major vein in the Santa Juana vein system. If it is the continuity of
the C0 vein, it may add 500 meters to the lateral extent of that vein.
The new vein was cut by two holes with the following results:
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NEW VEIN
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Core
Hole Sample # length m Au g/t Ag g/t Pb% Zn% Cu%
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SJS 14-01 45544 0.43 1.2 124 3.52 7.36 0.11
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SJS 14-02 45823 0.78 1.45 42 0.06 2.39 0.09
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45824 1.02 2.7 229 3.81 14.83 0.52
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Comp. 45823-24 1.8 2.16 148 2.18 9.44 0.33
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These positive results of base metals and significant precious metals
contents are typical of the geological environment and are consistent
with historical data of the area. The Company has deemed these results,
along with other known vein findings in the area, to be significant. As
such, a more in-depth exploration program in the immediate and
surrounding vicinity has commenced.
Exploration Update
Over the past year, ECU has advanced its exploration and development
work at the Velarde�a Property and surrounding areas considerably. In
doing so, the Company has deliberately shifted its focus away from
production and has put more emphasis on exploration and development. As
a result, we have enjoyed widespread drilling and sampling success
which has been communicated through the announcement of several new
discoveries. Within the Velarde�a Property we now have identified five
areas of significant potential immediately accessible from actual
underground workings;
i) Santa Juana - the vein packages within the Mineralized Corridor are
being evaluated for potential bulk mining applications thereby
opening opportunities for possible low cost mining.
ii) Terneras - the discovery of the elusive western extension of the
Terneras Vein which is significant since Terneras was the most
prominent vein in the Velarde�a district.
iii) San Mateo - the discovery of the downward extension of the main
vein has been enhanced with the identification of thick lenses
within the veins, known as "chimney" zones, with the limestone
as host rock.
iv) San Juanes - the central previously untested portion of the vein
has been drilled and the vein was cut. Final interpretation and
assays are still pending.
v) Roca Negra - the Roca Negra vein has been intersected at shallow
depth right within our current underground development and
infrastructure.
The above noted veins and vein packages are very continuous and
typically have demonstrated lateral continuity of up to one kilometer
in addition to vertical continuity of over 500 meters as confirmed by
our drilling program.
In addition, ECU has made discoveries at its adjacent Chicago Property
where several veins have been identified including the best known vein,
Los Muertos - Chicago Vein which has historically been followed for
1,300 meters horizontally. We have followed this vein through drilling
and existing underground development for 390 meters horizontally and
240 meters vertically so far.
At our San Diego Joint Venture Property, we have confirmed the
continuity of polymetallic high grade mineralization on laterally and
vertically extensive veins which transect the property. Our joint
venture partner is completing a N.I. 43-101 report at San Diego.
The above discoveries are currently being interpreted for inclusion
into an updated N.I. 43-101 technical report to be delivered by Micon
in the fourth quarter of 2007.
The Company strongly believes the corporate change in direction towards
exploration and development will deliver superior shareholder value for
ECU. While we are no longer operating the Velarde�a Mill for the
purpose of generating revenues, we are utilizing the mill to test the
metallurgical processes for our different veins. In this way, the mill
is now acting as a pilot plant which will help determine the design of
our future commercial size milling operation.
This shift in emphasis has allowed the Company to accelerate its
exploration at all sites and positive results have already been
achieved at the Terneras, San Mateo, Roca Negra and Chicago mines.
Although the Company is currently very focused on the timely delivery
of our next N.I. 43-101 technical report, full scale exploration
operations are still on going and results from various sites are
pending.
Readers are cautioned that until a complete prefeasibility study is
completed, there are no assurances this latest mineralized zone will be
economically viable, and although the above points are 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 drilling is completed.
Mr. Michel Roy, P. Geo., a "qualified person" within the meaning of NI
43-101, prepared the technical information disclosed in this news
release. All the samples represent the core length and may not be
representative of the true width.
For additional information please contact:
Stephen Altmann, President
Ph : (416) 644-8640
Fax : (416) 644-8801
www.ecu.ca
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.
The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this release.
View News Release in PDF Format:
http://www.ecu.ca/i/pdf/2007-09-28_NR.pdf
44 KB in size, approx. 9 seconds to download at 56.6Kbps
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Copyright (c) 2007 ECU SILVER MINING INC. (ECU) All rights reserved.
For more information visit our website at http://www.ecu.ca/ or send
mailto:ecu@ecu.ca
Message sent on Fri Sep 28, 2007 at 6:40:19 AM Pacific Time
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