| | Published : April 11th, 2008 | Discovers Another New Zone Reporting 11.50 metres grading 169 g/t Ag, 5.18% Zn, 0.55% Cu, 3. |
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Re: News Releases - Friday, April 11, 2008
Title: Scorpio Discovers Another New Zone Reporting 11.50 metres grading 169 g/t Ag, 5.18% Zn, 0.55% Cu, 3.08% Pb, and 0.360 g/t Au at Nuestra Senora Project, Mexico
Vancouver, April 11, 2008 - Scorpio Mining Corporation (TSX:SPM) is pleased to announce the discovery of a new zone of mineralization at the 100% owned Nuestra Senora project, Sinaloa State, Mexico.
Peter J. Hawley, Chairman, CEO reports, "The results in Table 1, including discovery hole NS8L-07-58, show once again that the area surrounding the known mineralized zones remains under explored and offers excellent potential to add significant tonnage proximal to the existing underground infrastructure. Not only are there excellent opportunities down plunge from the current Level 11, but as this demonstrates, significant new discoveries can still be made which could immediately impact our mine planning and improve our average tons per vertical metre."
The reported underground drill holes were collared on Level 8 (approximately 130 metres below surface) and drilled to explore beyond the historic footwall limit of the Main Zone. At a depth of 89.9 metres, roughly 60 metres past the footwall contact, the discovery hole NS8L-07-58 crossed a new zone of skarn mineralization in an area previously thought to be barren. Assay results received to date are presented in Table 1.
Table 1. 8th Level Underground Drill Results - Footwall Zone
Hole #
|
From
(m)
|
To
(m)
|
Length
(m)
|
Ag
(g/t)
|
Au
(g/t)
|
Cu
%
|
Pb
%
|
Zn
%
|
NS8L-07-58 |
89.90 |
103.50 |
13.60 |
74 |
0.180 |
0.46 |
1.54 |
2.60 |
including |
96.20 |
103.50 |
7.30 |
115 |
0.262 |
0.73 |
2.23 |
3.87 |
NS8L-07-188 |
116.70 |
119.30 |
2.60 |
823 |
0.157 |
0.10 |
2.55 |
2.60 |
NS8L-07-190 |
101.70 |
103.70 |
2.00 |
145 |
0.311 |
0.64 |
4.31 |
10.31 |
NS8L-07-191 |
79.90 |
81.10 |
1.20 |
131 |
0.276 |
0.11 |
2.16 |
1.72 |
NS8L-07-193 |
93.20 |
104.70 |
11.50 |
169 |
0.360 |
0.55 |
3.08 |
5.18 |
The new zone, dubbed the Footwall Zone, is located in an area historically thought to be principally composed of fresh barren limestone. Only limited drilling has been completed to date and further drilling is planned later this year in order to evaluate its dimensions and grade.
Recent drilling has focused principally on defining known mineralized zones with only limited exploration drilling completed. The Company expects to focus some of its drilling efforts toward finding new resources in order to replace the zones it expects to exploit in the future years.
Drill hole data in Table 1 reflects down hole core lengths and actual (uncut) grades. True widths cannot be reliably estimated at this time. Further information on the Company and the Nuestra Señora project is available on the Scorpio Mining web site at: www.scorpiomining.com.
President, Mr. D. Roger Scammell, PGeo, is the Company's Qualified Person for the Nuestra Señora project. Mr. Scammell is responsible for the current exploration and development program and has reviewed the content of this release. All technical information for the Nuestra Señora property is obtained and reported under a formal quality assurance and quality control (QA/QC) program. Samples are shipped to the ALS Chemex preparation laboratory in Hermosillo, Mexico for drying, crushing and pulverizing. ALS Chemex, Hermosillo then sends the pulps by air-freight to ALS Chemex, Vancouver for assaying. Systematic assaying of standards and blanks are performed for the precision and accuracy; check assays are regularly conducted by SGS Lakefield Research. Details of the QA/QC program are available on the Company's website.
ON BEHALF OF SCORPIO MINING CORPORATION
Peter J. Hawley
Chairman & CEO
For further information contact:
Glenn Little, Jackson Little Holdings Ltd: 604-930-4375; 1-888-930-4375
Email: jlconsulting@telus.net
Rich Kaiser, YES International: 1-800-631-8127; 001-757-306-6090 (outside North America)
Email: yes@yesinternational.com
This news release includes certain statements that may be deemed "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the future price of silver, zinc, copper, lead and gold, the timing of construction and production activities, the mine life of the Nuestra Senora Project, the economic viability and estimated internal rate of return of the Nuestra Senora Project, the estimation of mineral reserves and mineral resources, the results of drilling, estimated future capital and operating costs, projected mineral recovery rates, requirements for additional financing and Scorpio Mining Corporation's commitment to, and plans for developing the Nuestra Senora Project. Generally, these forward-looking statements can be identified by the forward-looking terminology such as "plans", "expects"' or "does not expect", "is expected", "budget", "scheduled", "estimates", "projects", "intends", "anticipates", or "does not anticipate", or "believes", or "variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might", or "will" be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Scorpio Mining Corporation to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and potential development and construction of the Nuestra Senora Project, risks related to international operations, construction delays and cost overruns, the actual results of current exploration, development and construction activities, conclusions of economic evaluations, changes in project parametres as plans continue to be refined, future prices of silver, zinc, copper, lead and gold, as well as those factors discussed in the sections relating to risk factors of our business filed in Scorpio Mining Corporation's required securities filings on SEDAR, including its Annual Information Form date March 27, 2007. Although Scorpio Mining Corporation has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.
There can be no assurance that any forward-looking statements will provide accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Scorpio Mining Corporation doses not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
Copyright © 2008 SCORPIO MINING CORPORATION (SPM) All rights reserved. For more information visit our website at
http://www.scorpiomining.com/
or send email to
scorpio@scorpiomining.com
..
Message sent on Thu Apr 10, 2008 at 2:21:32 PM Pacific Time
Data and Statistics for these countries : Mexico | All Gold and Silver Prices for these countries : Mexico | All
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Scorpio Mining Corporation
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PRODUCER |
CODE : SPM.TO |
ISIN : CA80917V1058 |
CUSIP : 80917V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Scorpio Mining is a silver and zinc development stage company based in Canada. Scorpio Mining produces silver, zinc, copper, gold and lead in Mexico, and holds various exploration projects in Mexico. Its main asset in production is NUESTRA SENORA in Mexico and its main exploration properties are SAN RAFAEL - 120 ZONE, EL CAJON DEPOSIT, SAN RAFAEL - MAIN & UPPER ZONE, LA VERDE SINALOA, COSALA DISTRICT and LA REVANCHA in Mexico. Scorpio Mining is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 27.8 millions as of today (US$ 20.0 millions, € 17.9 millions). Its stock quote reached its highest recent level on April 16, 2004 at CA$ 4.00, and its lowest recent point on February 05, 2016 at CA$ 0.06. Scorpio Mining has 347 230 016 shares outstanding. |
Annual reports of Scorpio Mining Corporation |
Financings of Scorpio Mining Corporation |
Option Grants of Scorpio Mining Corporation |
Nominations of Scorpio Mining Corporation |
Financials of Scorpio Mining Corporation |
Project news of Scorpio Mining Corporation |
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10/1/2012 | Announces Increased Mineral Resources and Contained Metals a... |
9/24/2012 | Announces Increase in Resource Estimate for El Caj=F3n |
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3/13/2011 | (Nuestra Senora)Reports Nuestra Senora Mineral Reserve of 2.764 Mt @287 AgEq... |
5/6/2010 | (Nuestra Senora)Drilling Reports 42.4 metres grading 198.03 g/t Silver, 1.37... |
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5/13/2008 | (Nuestra Senora)Receives New Resource Estimate |
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4/24/2008 | (Nuestra Senora) Commences Production Mining at the Nuestra Senora Project, ... |
4/11/2008 | (Nuestra Senora)Discovers Another New Zone Reporting 11.50 metres grading 16... |
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2/14/2008 | (Nuestra Senora) Provides Nuestra Senora Project Update, Sinaloa State, Mexi... |
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11/2/2007 | (Nuestra Senora)Deep Drilling of Nuestra Senora Deposit From 11th level Hits... |
10/2/2007 | Reports High-Grade Intercept of 1,158 g/t Ag, 29.95% Zn, 4.2... |
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8/20/2007 | (Nuestra Senora)Scorpio's Underground Drilling from the 9th Level of Nuestra... |
8/13/2007 | (Nuestra Senora)Scorpio's Underground Drilling of Nuestra Senora Deposit Hi... |
8/8/2007 | (Nuestra Senora) Provides Nuestra Senora Project Update, Sinaloa State, Mexi... |
7/30/2007 | (Nuestra Senora)First Ever Surface Drilling of Santo Domingo Satellite Depos... |
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6/14/2007 | AMENDED: Scorpio Receives Positive Results from the Pre-Feas... |
6/13/2007 | (Nuestra Senora)Receives Positive Results from the Pre-Feasibility Study on ... |
6/8/2007 | (Nuestra Senora)2007 Technical report |
4/23/2007 | (Nuestra Senora)Drilling of Nuestra Señora Main Zone Reports 4.4 metres grad... |
3/26/2007 | (Nuestra Senora)Drilling of Nuestra Senora Zone Hits 11 Mineralized Intercep... |
3/19/2007 | (Nuestra Senora)Drilling of Nuestra Senora Zone Hits 8 Mineralized Intercept... |
2/21/2007 | (Nuestra Senora)Receives Metallurgical Test Work and Moves Forward |
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