Rio Alto Mining Limited

Published : May 12th, 2008

Discovers New High Grade Veins

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May 12, 2008

Mexican Silver Mines Discovers New High Grade Veins
at its La Blanca Property


 

Mexican Silver Mines Ltd. ("Mexican Silver") (TSXV: MSM; Frankfurt WKN: A0MSLE) has received the assay results from three drill holes at its La Blanca property which have identified a new silver-lead-zinc rich vein.

Mineralization at La Blanca is hosted in a system of veins.  Sulphides consist of multiphase galena bands with fine to medium grained argentite and sphalerite, with calcite, quartz and pyrite as gangue minerals, hosted in calcareous rocks of the Upson Formation.

Previous work by Mexican Silver consisted of trenches on surface in the area which returned grades of between 897 g/t and 4,110 g/t silver and values of 59 to 83% lead.  Please refer to Mexican Silver's news release dated May 30, 2007 for additional details regarding this work.

Three drill holes tested the mineralized area for 500 metres in length, with positive results.  All three drill holes cut mineralization.  Material assay results are shown in the following tables.

Sample
#

Drill Hole
#

From
m.

To
m.

Interval
m.

Ag
g/ton

Pb
%

Zn
%

 ADF 2301

AF-01

27.54

28.42

0.93

1.4

0.037

0.04

 ADF 2302

AF-01

28.42

29.02

0.60

13.7

0.99

3.07

 ADF 2303

AF-01

29.02

29.35

0.33

0.9

0.037

0.02

 ADF 2304

AF-01

29.35

29.85

0.5

0.9

0.037

0.007

 

Sample
#

Drill Hole
#

From
m.

To
m.

Interval
m.

Ag
g/ton

Pb
%

Zn
%

 ADF 2305

AF-02

24

24.8

0.8

1.3

0.01

0.017

 ADF 2306

AF-02

24.8

25.36

0.56

66.1

3.97

1.77

 ADF 2307

AF-02

25.36

26.36

1.0

0.9

0.04

0.03

 

Sample
#

Drill Hole
#

From
m.

To
m.

Interval
m.

Ag
g/ton

Pb
%

Zn
%

 ADF 2308

AF-03

10.5

11.5

1.0

3

0.18

0.039

 ADF 2309

AF-03

11.5

11.9

0.40

506

4.82

17.45

 ADF 2310

AF-03

11.9

13.02

1.12

2.1

0.08

0.092

 ADF 2311

AF-03

13.02

13.9

0.88

4.2

0.06

0.08


These drill results have defined veins which average 0.5 metres in width with attractive mineralization grades and are believed to be part of a system hosting high grade mineralization encountered in prior trench testing.

Mexican Silver will extend the trenching program to test 1500 metres of strike along the vein system with concurrent systematic sampling and geological mapping.  A second phase of drilling is intended to be undertaken at La Blanca with the goal of delimiting the mineralization both laterally and to depth.

All drill core 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. The split drill core sample was crushed and a sub-sample (aliquot) split off, pulverized and screened through a 150 mesh screen. Analyses were preformed using standard acid digestion and spectrographic techniques.

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 drilling program at La Blanca, is Mexican Silver's nominated Qualified Person and is responsible for the quality assurance and quality control of the programs completed at La Blanca. Mr. Dynes has reviewed and verified the technical information contained in this news release.


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
Jamie Mathers, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 236
Phone: 866.684.4209
Email:jamie@ascentacapital.com


Thisnews release contains forward-looking information including but notlimited to comments regarding the timing and content of upcoming workprograms, geological interpretations and potential mineral recoveryprocesses. Forward-looking information includes disclosure regardingpossible future events, conditions or results of operations that isbased on assumptions about future economic conditions and courses ofaction, and therefore, involves inherent risks and uncertainties. Whenused in this news release. The words "estimated", "inferred", "plan","anticipated", "expected", "intend", "believe", and similar expressionsare intended to identify forward-looking statements. These statementsinvolve known and unknown risks, uncertainties and other factors thatmay cause the actual results, performance or achievements of MexicanSilver to be materially different from any future results, performanceor achievement expressed or implied by such forward-looking statements.For any forward-looking information given, management has assumed thatthe analytical results it has received are reliable, and has appliedgeological interpretation methodologies which are consistent withindustry standards. Although management has a reasonable basis for theconclusions drawn, there can be no assurance that forward-lookingstatements will prove to be accurate and actual results may differmaterially from those currently anticipated in such statements. Forsuch statements, we claim safe harbour.

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

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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In the News and Medias of Rio Alto Mining Limited
1/31/2008Follow up N° 2
Annual reports of Rio Alto Mining Limited
2007 annual report
2007 Q1 report
2006 Q3 report
2006 annual report
Financings of Rio Alto Mining Limited
11/30/2010Completes First Tranche of Private Placement for C$12.8 Mill...
1/7/2009Extends Expiry Date of Outstanding Warrants
12/23/2008Proposes to Extend Expiry Date of Outstanding Warrants
Option Grants of Rio Alto Mining Limited
7/23/2009Name Change to Rio Alto Mining Limited and Grant of Stock Op...
5/25/2009Announces Grant of Stock Options
Nominations of Rio Alto Mining Limited
3/14/2011Announces Appointment of Victor Gobitz and Sidney Robinson t...
2/18/2011Announces the Departure of Feisal Somji
6/17/2008Appoints Jose Sayo Garcia as VP Exploration and Brings Addit...
Project news of Rio Alto Mining Limited
4/29/2011(La Arena)Drills 173 Metres of 1.53 Grams of Gold Per Tonne
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
6/29/2009(La Arena)Confirms Option Agreement on La Arena and Equity Position in...
7/7/2008(Mamulique)Commences First Phase Drilling at the Mamulique Project
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...
Corporate news of Rio Alto Mining Limited
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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