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Dia Bras Exploration Inc. (TSX-V:DIB - News) ("Dia Bras")
(the "Company") is pleased to report that it has received assay
results from the first diamond drill hole of its current drilling program at
the Las Coloradas project in the Melchor Ocampo mineral district, Zacatecas
State. The hole intercepted 119.6 m of skarnified limestone and averages 65.6
g/t (2 ounces) silver, 1.16% lead, 1.43% zinc and 0.11% copper.
"This is an exciting result for a
first drill hole in a property that is approximately 20 km north of the
world-class Penasquito mine, which is also a precious metal orebody with base
metal by-products," stated Daniel Tellechea, President & CEO.
"Our target at Las Coloradas is a large-tonnage, underground-mineable
silver deposit with important zinc-lead-copper by-product credits, and this
first hole of our program has confirmed that such mineralization exists over
a very wide interval. As we continue the evaluation and exploration of the
properties acquired in the EXMIN transaction, our portfolio of attractive
properties keeps increasing."
The Las Coloradas project is located in
the Melchor Ocampo mineral district, which is known for the occurrence of
large carbonate replacement deposits of precious and base metals. Las
Coloradas is approximately 20 kilometres due north of Goldcorp's Penasquito
mine, as well as near important mines/projects in Zacatecas such as Aranzazu
(Aura Minerals), Tayahua (Frisco) and Camino Rojo (Goldcorp) (http://diabras.com/files/media/58564_Melchor%20Ocampo%20District.pdf
see attached map).
The first Las Coloradas drill hole,
Drill Hole DLC10B001, was drilled on a bearing of 180 degrees and at an
inclination of -45 degrees to twin a hole drilled by Echo Bay Minerals in
1996, hole Z96-35, that was lost in mineralization at 246 m. That hole
returned 69.0 metres of core averaging 51 g/t silver, 1.2% lead and 1.1%
zinc. The results from Dia Bras' first drill hole are shown in Table 1.
Table 1 - Assay Results from Dia Bras
drill hole DLC10B001
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From (m) To (m) Core Silver Lead % Zinc % Copper %
Length (m) g/t
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165.0 284.6 119.6 65.6 1.16 1.43 0.11
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Incl. 165.0 218.2 53.2 67.7 1.42 1.30 0.11
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Incl. 242.0 284.6 42.6 93.3 1.31 2.18 0.16
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Drill hole DLC10B001 was collared in
sandstone and shale east of a wide (approx. 100 m), near-vertical, E-W
trending fault zone and crossed into the Taraises Formation (thin-bedded
limestone and mudstone) and then entered the La Caja Formation (siltstone and
thick-bedded limestone) that was converted to skarn by intrusion of a
granodioritic body (http://www.diabras.com/files/media/3bef5_LasColoradas-Section-200E%28V2%29%5B1%5D.pdf
see attached cross section). The lower portion of the Taraises Formation is
also skarnified. Underlying the skarnified La Caja Formation is the Zuloaga
Formation (massive limestone), which is un-mineralized. The hole was stopped
in the Zuloaga Formation at a depth of 357.2 m.
Skarn development begins 140 m down hole
and continues to 218 m. Disseminated, minor mineralization occurs for the
first 25 m, but at 165 m mineralization becomes more intense. The mineralized
zone starts in the skarn zone but continues from 218 m as fracture fillings
in the jasperoid-bearing La Caja Formation for an additional 66 m. Alteration
and mineralization occurs between two narrow (8.0 and 2.7 m width),
granodiorite intrusions that are inferred to be dikes.
Drill hole DLC10B002 was drilled from
the same site and bearing but at an angle of -70 degrees and cut 194 metres
of mineralized rock from 210 m down hole. Assays are pending. The hole was
stopped at 528 m.
The drill rig was moved 400 m to the
west and drilled hole DLC10B003 on a bearing of 180 degrees and an
inclination of -60 degrees in order to test the strike extent of the
mineralization. A fourth hole will also be drilled from this site.
Award of Options and Resignation of
Director
The Company announces that the Board of
Directors has granted a total of 3,335,000 options to purchase common shares
in the Company of which 1,025,000 were granted to Directors who are also
Officers of the Company, 300,000 to Officers of the Company and the remaining
2,010,000 to employees or consultants of the Company and its Mexican
subsidiaries. All options expire five years from grant and are exercisable as
follows: a first third vested on grant are exercisable at a price of $0.28
until expiry; a second third shall vest on the first anniversary of the grant
and be exercisable at a price of $0.34 until expiry; and a last third shall
vest on the second anniversary of the grant and be exercisable at a price of
$0.40, until expiry.
The Company also announces the
resignation of Eduardo Gonzalez as Director of the Company and would like to
thank Mr. Gonzalez for his service and to wish him the best on his current
and future endeavors.
Method of Analysis
Samples were prepared at the ALS Chemex
lab facility in Chihuahua, Mexico, and analyzed by ICP and AA methods at
their facilities in Vancouver, Canada. Diamond drill samples sent for
analysis consisted of half NQ-size and BQ-size diamond core split on site,
prepared by the ALS Chemex sample preparation laboratory in Chihuahua,
Mexico, and assayed for Au by 50 g fire assay with AA finish, and for Ag by
AA on 50 g split sample at the ALS Chemex North Vancouver Laboratory. Assays
for Pb, Zn and Cu are done by Induction Coupled Plasma (ICP) at ALS Chemex.
Quality Control
The quality assurance-quality control
(QA-QC) of Dia Bras has been described in detail in both RPA's NI 43-101
reports of December, 2006, at Cusi and October, 2005, for Bolivar.
The technical content of this news
release has been approved by Thomas L. Robyn, Ph.D., CPG, RPG, a Director of
Dia Bras and a Qualified Person as defined in NI 43-101.
About Dia Bras
Dia Bras is a Canadian exploration
mining company focused on precious and base metals in Chihuahua State and
other areas of northern Mexico. The Company is committed to developing and
adding value to its most advanced assets - the Bolivar Property and the Cusi
Property. The Company's shares trade on the TSX Venture Exchange under the
symbol "DIB".
For further information on Dia Bras
Exploration Inc. visit www.diabras.com
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this news release.
Forward-looking Statements
Except for statements of historical
fact, all statements in this news release without limitation regarding new
projects, acquisitions, future plans and objectives are forward-looking
statements which involve risks and uncertainties. There can be no assurance
that such statements will prove to be accurate; actual results and future
events could differ materially from those anticipated in such statements.
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