Rio Alto Mining Limited

Published : October 31st, 2007

Increases Drill Program at Vallecillo

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Keywords :   Canada | G Mexico | K Street | Mexico | Silver |

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October 31, 2007

Mexican Silver Mines Increases Drill Program at Vallecillo


Mexican Silver Mines Ltd. (“Mexican Silver”) (TSXV: MSM; Frankfurt WKN: A0MSLE) is pleased to announce that the drilling program at Vallecillo has been expanded from eight holes to 12 holes.   In the east, additional holes will be drilled to test the northeastward extension of the Dolores-San Pablo structural zone which is projected into an area covered and obscured by recent sediments. In the western part of the district, additional holes will be drilled to test multiple sub-parallel structures that have been located on the surface mapping program.  These sub-parallel structures may represent splays off the main zone of the Vallecillo district. 

Core samples from holes one to six at Vallecillo have now been shipped to ALS Chemex for assays and results are expected soon.

Mexican Silver further advises that its second company owned Longyear 44 drill rig is now on site and is currently drilling Hole 9 at Vallecillo.  The second rig’s daily production is matching that of the first and both rigs are now in full operation.

"We are very pleased with the daily production and with the crews on both rigs. We have also ensured good inventories of steel and parts so that we can avoid any down time due to mechanical or down hole problems." stated Feisal Somji, President. "We plan to have both rigs turning well into next year with our expanded exploration budget and continued target generation from our geological team. Having both machines running smoothly out of the gate is a real testament to our Mexican based team."

Mr. William Dynes, P. Geol. is the Qualified Person, as defined in NI 43-101, who has reviewed and verified the scientific and technical mining disclosure 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: fsomji@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


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

Ascenta Capital provides investor relations services to a number of high-quality junior public companies. To learn about these companies, there are a number of e-news lists you can subscribe or unsubscribe to in our Profile Centre. You can also subscribe to Ascenta's monthly e-newsletter, Resource Investor Monthly.
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Data and Statistics for these countries : Canada | Mexico | All
Gold and Silver Prices for these countries : Canada | Mexico | All

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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