Rio Alto Mining Limited

Published : February 19th, 2008

Announces Positive Exploration Results and Drill Plan for the Mamulique Pr

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February 19, 2008

Mexican Silver Mines Ltd. Announces Positive Exploration Results and
Drill Plan for the Mamulique Project


Mexican Silver Mines Ltd. ("Mexican Silver" or "MSM") is pleased to announce new exploration results and plans for drilling targets within the historic Mamulique mining district.  The Mamulique district is located 30 kilometers northeast of Monterrey, Mexico at the southernmost tip of MSM's Anillo de Fuego concession and is an historic zinc-silver-lead mining district in the Eastern Cordillera Silver Belt of northeastern Mexico. The national highway between Monterrey, Mexico and Laredo, Texas transects the Mamulique area.  Mexican Silver has identified lead-zinc occurrences in these road cuts where previously unrecognized structurally controlled and manto-type mineralization is exposed.


Regional data collected by Mexican Silver shows that at least fifteen shafts along the crest of the Mamulique anticline are present over a strike length of 10 km, including the Santo Nino, Victoria, Mina El Milagro, Mina La Torre and Mina La Paloma. MSM's initial review indicates that these workings, other than the Santo Nino and La Victoria mines, were mined to depths of only 10 to 20 meters. No historic production information is available for these other mines; however, Mexican Silver has commenced an initial exploration program on these historic mines.

Detailed surface and underground mapping/sampling has been completed over an area of 120 hectares within the main mining area including the Santo Nino and Victoria mines.  A number of mine adits and declines are safely accessible and provide MSM with an initial third dimensional evaluation down to a depth of a few tens of meters. This mapping has defined a mineralized structural zone approximately 1,400 meters long, which on the surface, consists of at least 6 parallel veins. 
The formation that hosts this mineralization is the Cuesta del Cura Formation.  Projected below this formation, and based on regional stratigraphic interpretation, the Aurora Formation is thought to be present.  The Aurora Formation is the favorable host formation for significant mineralization at the La Encantada (First Majestic Silver Corp.) and La Platosa (Excellon Resources Inc.) mines.

Within the Mamulique district, numerous mining works have been identified, mapped and sampled.  The strongest mineralization has been observed in the Santo Niño shaft which has a reported mining depth of 180 meters and the La Victoria shaft with a reported depth of 50 meters.

The largest historic mining operation in the Mamulique district was reported at the Santo Nino mine which is located on an oblique cross structure at the crest of the Mamulique anticline. A report by Servicio Geologico Mexicano (SGM) indicated production from the Santo Nino mine was reported to be 500 tons per month of high grade zinc ore with subsidiary silver and lead values when it was in production in the last century. The grade of historic production from this mine was reported to be up to 40% zinc and ore was shipped to Cia Zinc National in Monterrey.

Results from the surface sampling at Mamulique are presented as follows:

 

Sample #

Sample type and width

Ag g/t

Pb %

Zn %

 MM01

vein 20 cm

185

15.9

7.52

 MM02

vein 5 cm

314

>20

6.51

 MM02A

vein 11 cm

257

>20

6.98

 MM03

vein 5 cm

368

>20

23.5

 MM04

vein 30 cm

49.7

6.24

0.63

 MM05

vein 10 cm

22.7

0.76

14.85

 MM06

vein 10 cm

107

17.9

14.4

 MM07

tailings Santo Niño mine

30.3

0.83

4.71

 MM08

tailings Santo Niño mine

11

1

18.15

 MM09

tailings Santo Niño mine

62.2

1.58

20.7

 MM11

vein 12 cm

381

>20

2.44

 MM12

vein 13 cm

98

17.1

19.3

 MM13

vein 12 cm

125

10.8

30

 MM14

vein 30 cm

4

0.5

0.23

 MM15

vein 40 cm

0.8

0.07

3.8

 MM16

tailings La Victoria mine

64.6

6.86

0.21

 MM17

vein 20 cm

12

1.25

1.88

 MM18

vein 25 cm

44.1

8.41

10.35


Mineralization in these types of veins is interpreted to be associated with the anticline axis of the Sierra Mamulique.  Favorable structural zones within permissive carbonate horizons are the preferred hosts for mineralization in veins and mantos.  Sulfide mineralogy of the veins consists primarily of galena (lead sulfide) and sphalerite (zinc sulfide) associated with calcite and quartz which are observed as fracture fillings and replacements within the limestone.

Underground rock chip sampling from the Victoria mine at depths to 20 to 30 meters beneath the surface gave the following results:

Sample #

Sample type and width

Ag g/t

Pb %

Zn %

 MM21

vein 22 cm

47.2

3.52

>30.0

 MM22

vein 30 cm

37.4

0.73

25.6

 MM23

vein 40 cm

18.5

>0.41

19.1

 MM24

vein 25 cm

34.9

1.58

27.2

 MM25

vein 33 cm

21.2

0.17

24.9

 MM26

vein 20 cm

46.8

3.11

28.2

 MM27

vein 25 cm

35.9

0.02

28.0

 MM28

vein 25 cm

20.2

0.03

23.3


MSM has prepared its first phase drill program at Mamulique consisting of 13 holes for an approximate 2,300 meters of drilling.  Both structural and stratigraphic targets will be tested with both short and deep holes to test longitudinal and depth continuity.  No previous drilling has ever been carried out in the Mamulique district or mine areas. Drilling at Mamulique will commence immediately following the completion of the current drilling at the Company's Iguana Property.

While initial exploration on the Anillo de Fuego concession is focused on the Santo Nino and La Victoria mine areas, other occurrences of silver-rich base metal mineralization are present in the surrounding mountain ranges exhibiting anticlinal structures. Two of these other areas known as El Cedral and El Mortero and will be explored by Mexican Silver in due course.

Photos and long sections from the Mamulique project are available for review on the MSM website noted below.

All hand samples were shipped to ALS Chemex Laboratory ("Chemex") for analyses. Chemex has an International Standard Organization rating of ISO 9001:2000 and is independent of Mexican Silver.  Mexican Silver follows a rigorous Quality Assurance/Quality Control program consisting of inserting standards and duplicates into the sample stream submitted to Chemex for analyses.  Mr. William Dynes, P. Geol., the project supervisor of Mexican Silver's program on the Mamulique Property, is the Corporation's nominated Qualified Person responsible for monitoring the supervision and quality control of the programs completed within the its properties. Mr. Dynes has reviewed and verified the technical information contained in this news release.

This news release contains forward-looking information including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations and potential mineral recovery processes. Forward-looking information includes disclosure regarding possible future events, conditions or results of operations that is based on assumptions about future economic conditions and courses of action, and therefore, involves inherent risks and uncertainties. When used in this news release. The words "estimated", "plan", "anticipated", "expected", "intend", "believe", and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Mexican Silver to be materially different from any future results, performance or achievement expressed or implied by such forward-looking statements. For any forward-looking information given, management has assumed that the analytical results it has received are reliable, and has applied geological interpretation methodologies which are consistent with industry standards. Although management has a reasonable basis for the conclusions drawn, there can be no assurance that forward-looking statements will prove to be accurate and actual results may differ materially from those currently anticipated in such statements. For such statements, we claim safe harbour.

About Mexican Silver Mines

Mexican Silver Mines is a silver focused junior resource company developing three former silver producing properties in north-eastern Mexico. To learn more about Mexican Silver Mines, please visit: www.mexicansilvermines.com.

 

ON BEHALF OF THE BOARD OF
MEXICAN SILVER MINES LTD.

___________________________________

Feisal Somji, B.Sc., MBA
President and Chief Executive Officer

FOR FURTHER INFORMATION, CONTACT:

Mexican Silver Mines Ltd.
Feisal Somji, President & CEO
Phone:  403.236.5089
Fax:      403.398.0693
Email: info@mexicansilvermines.com
Web:  www.mexicansilvermines.com

Investor Relations
Bryson Goodwin, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 239
TF: 866.684.4209
Email:bryson@ascentacapital.com


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.

 

This email was sent by: Ascenta Capital Partners Inc.
Suite 1610, 1066 West Hastings Street, Vancouver, BC, V6E 3X1 Canada
www.ascentacapital.com

 

Rio Alto Mining Limited

DEVELOPMENT STAGE
CODE : RIO.TO
ISIN : CA76689T1049
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Rio Alto is a copper and gold development stage company based in Canada.

Rio Alto develops copper, gold and silver in Peru, and holds various exploration projects in Mexico.

Its main asset in development is LA ARENA in Peru and its main exploration properties are ANILLO DE FUEGO, PROVIDENCIA, RAL ( LA IGUANA ), VALLECILLO, MAMULIQUE and LA BLANCA in Mexico.

Rio Alto is listed in Canada. Its market capitalisation is CA$ 793.2 millions as of today (US$ 798.5 millions, € 597.1 millions).

Its stock quote reached its lowest recent point on December 26, 2008 at CA$ 0.07, and its highest recent level on February 23, 2012 at CA$ 4.54.

Rio Alto has 175 886 000 shares outstanding.

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6/17/2008Appoints Jose Sayo Garcia as VP Exploration and Brings Addit...
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2/9/2011(La Arena)Announces Acquisition of 100% of La Arena Project
8/5/2009(La Arena)La Arena Surface Rights and Project Update
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6/4/2008(Ral ( La Iguana ))Reports Extension of Mantos in the First Phase of Drilling a...
5/12/2008(La Blanca)Discovers New High Grade Veins
3/25/2008(Vallecillo)Initiates IP Geophysics at Vallecillo
2/19/2008(Mamulique) Announces Positive Exploration Results and Drill Plan for t...
1/30/2008(Ral ( La Iguana ))Announces an Exploration Update on its Iguana Project
1/23/2008(Vallecillo)Reports further drill results from the Vallecillo drill prog...
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4/1/2015Tahoe Resources and Rio Alto Mining Announce Completion of M...
3/30/2015Announces Shareholder and Court Approval of the Plan of Arra...
3/16/2015Announces Net Income of US$49.8 Million for 2014
7/20/2011Drills 238 Metres of 1.06 Grams of Gold Per Tonne
6/15/2011Drills 134 Metres of 2.29 Grams of Gold Per Tonne
5/9/2011(La Arena)Pours 1,115 Oz of Gold at La Arena
6/30/2009Completes Acquisition of Rio Alto Mining Limited
6/22/2009Enters Definitive Agreement to Acquire Rio Alto Mining Limit...
3/10/2009Enters into Letter of Intent to Acquire Rio Alto Mining Limi...
2/25/2009at 2009 Prospectors & Developers Association of Canada Confe...
12/19/2008Featured on Business Television
11/19/2008Provides a Corporate Update and Initiates Review of Strategi...
4/23/2008 Grants and Re-Prices Options
4/8/2008 Announces the Addition of Jim Glass to Board of Directors
2/29/20082007 Q3 Report
1/28/2008Announces Exploration Results from the Magnolia Mine Area wi...
12/5/2007 Announces Positive Drill Assay Results From Vallecillo and ...
11/30/20072007 Q2 report
11/19/2007 Acquires the Voladora Mine in the State of Nuevo Leon
10/31/2007Increases Drill Program at Vallecillo
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