Vancouver, British Columbia, Canada. March 4th, 2010. Columbus Silver Corporation (CSC: TSX-V) ("Columbus Silver" or the "Company") is pleased to announce that its ongoing prospecting program has resulted in the staking of two highly prospective silver properties in Nevada, bringing its total silver portfolio to 8 projects.
Hoyt Canyon
The Hoyt Canyon Project is located approximately 95 km (60 miles) east of Fallon, Nevada, in the Clan Alpine Range. Columbus recently staked claims at Hoyt Canyon covering silver showings with subordinate gold. The Hoyt Mine, included in the claim block, has recorded historical production from the early 1900's of several hundred thousand ounces of silver and 43 tons of antimony. Initial sampling of structural zones on the claim block returned values of silver from nil to 1,213 g/t (35.4 opt). Silver ranging from nil to 566 g/t (16.5 opt) and from nil up to 3.183 g/t (0.093 opt) gold occurs at the Hoyt Mine in shear zones with quartz veining cutting Triassic limestones, siltstones, and sandstones. An additional target at Hoyt Canyon includes a large covered area on strike of the Hoyt Mine structure. The only exposure in the covered area is an old bulldozer trench exposing altered rocks containing from nil to 0.53 g/t (0.014 opt) gold and anomalous silver. The project area has never been drilled. Columbus plans to carryout geologic mapping, a thorough sampling program to better define the mineralization in the Hoyt structure, and float chip sampling in the covered area; with the aim of delineating drill targets.
General Thomas
The General Thomas Project is located 20 km (13 miles) southwest of Tonopah, Nevada, in Esmeralda County. The General Thomas Mine had unrecorded production from 1910 to 1921. Columbus recently staked claims centered approximately 800 meters (500 ft) northwest of the General Thomas Mine where reconnaissance sampling yielded silver values ranging from 34.28 to 788.6 g/t (1.0 to 23 opt) silver in shale and hornfels of the Cambrian Harkless Formation. Numerous dikes and sills are also present and regional magnetic surveys indicate the area lies on a broad magnetic high, probably reflecting an igneous intrusive body at depth. There has been no drilling on the claims. Columbus plans to carryout a program of thorough sampling and geological mapping to define the highest priority drill targets.
Andy Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists and is the Qualified Person under NI 43-101 who has reviewed and approved the technical content of this news release. Mr. Wallace is a VP of Columbus Silver's U.S. subsidiary and the principal of Cordilleran Exploration Company ("Cordex"), which is conducting exploration and project generation activities for Columbus Silver.
About Columbus Silver
Columbus Silver is a silver exploration and development company operating in the Western United States possessing an experienced management group with a strong background in all aspects of the acquisition, exploration, development and financing of mining projects.
Columbus Silver's project activities are managed on an exclusive basis by Cordex, which has a long and successful history of discovery and mine development in the United States. Columbus Silver maintains active generative (prospecting) and evaluation programs and currently controls a 100% interest in 8 silver properties in Utah, Arizona, New Mexico and Nevada.
This release contains forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995 ("forward-looking statements"), respecting the Company's exploration plans. Forward-looking statements involve risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by the forward-looking statements, including without limitation the ability to acquire necessary permits and other authorizations; environmental compliance; cost increases; availability of qualified workers; competition for mining properties; risks associated with exploration projects, mineral reserve and resource estimates (including the risk of assumption and methodology errors); dependence on third parties for services; non-performance by contractual counterparties; title risks; and general business and economic conditions. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about: general business and economic conditions; the timing and receipt of required approvals; availability of financing; power prices; ability to procure equipment and supplies; and ongoing relations with employees, partners and joint venturers. The foregoing list is not exhaustive and we undertake no obligation to update any of the foregoing except as required by law.