NEWS RELEASE
Soho Reports
Initial Resource Estimate for Tahuehueto
Vancouver, British
Columbia, April 30th, 2008; Soho Resources Corp. – (TSX Venture
– SOH) (“Soho” or the “Company”) is pleased to
announce the completion of its first Canadian National Instrument NI 43-101
compliant mineral resource estimate for its Tahuehueto property in Durango
State, Mexico (“Tahuehueto”). This initial resource
estimation has been prepared by Mine Development Associates of Reno, Nevada
(“MDA”). Mine Development Associates is a full-service
mining engineering firm, specializing in all aspects of exploration, mine
development, and mine operations.
This resource represents
only the upper, close to surface portion of three structures; the El Creston
structure over approximately 670 m of strike length; the Cinco de Mayo -
Santiago structure known to be at least 3 km long and drill tested over
approximately 2.5 km of strike length; and the El Rey structure tested over
approximately 250 meters of strike length.
Highlights
�
383,000 oz ounces gold equivalent (calculated using only Gold oz +
Silver oz/60, assumes 100% Au & Ag recoveries [excludes base metal
content])
�
276,000 ounces of gold
�
6.429 million ounces of silver
�
33.483 million pounds of copper
�
110.457 million pounds of lead
�
201.138 million pounds of zinc
Tahuehueto Inferred Resources
|
Cutoff (g Au-equiv/t)
|
Tonnes
|
g Au/t
|
oz Au
|
g Ag/t
|
oz Ag
|
Cu%
|
lbs. Cu
|
Pb%
|
lbs. Pb
|
Zn%
|
lbs. Zn
|
Unoxidized
|
Oxidized
|
2.0
|
3.0
|
6,402,000
|
1.34
|
276,000
|
31
|
6,429,000
|
0.24
|
33,483,000
|
0.78
|
110,457,000
|
1.43
|
201,138,000
|
2.5
|
3.0
|
4,985,000
|
1.62
|
259,000
|
36
|
5,781,000
|
0.27
|
29,238,000
|
0.90
|
98,759,000
|
1.61
|
176,592,000
|
3.0
|
3.0
|
4,101,000
|
1.86
|
245,000
|
40
|
5,277,000
|
0.29
|
25,960,000
|
0.99
|
89,854,000
|
1.75
|
158,444,000
|
4.0
|
4.0
|
2,722,000
|
2.44
|
213,000
|
49
|
4,280,000
|
0.34
|
20,110,000
|
1.18
|
70,945,000
|
2.09
|
125,481,000
|
5.0
|
5.0
|
1,907,000
|
3.03
|
186,000
|
58
|
3,542,000
|
0.38
|
15,974,000
|
1.32
|
55,589,000
|
2.42
|
101,716,000
|
7.0
|
7.0
|
1,047,000
|
4.31
|
145,000
|
74
|
2,488,000
|
0.48
|
11,062,000
|
1.52
|
35,082,000
|
2.96
|
68,303,000
|
10..0
|
10..0
|
508,000
|
6.62
|
108,000
|
92
|
1,499,000
|
0.61
|
6,839,000
|
1.68
|
18,848,000
|
3.37
|
37,702,000
|
NOTES: 1. The cutoff for
oxidized resources is higher than un-oxidized resources due to anticipated
lower metal recoveries in the flotation process.
2. Gold-equivalent grades are
used for cutoff purposes only.
3. Gold equivalent
calculation: g Au-equiv/t = Au grade + (Ag grade � 60) +
(Cu grade � 0.35) + (Pb grade � 1.0938) + (Zn � 0.875).
Metallurgy
Historic
metallurgical testing preformed between 1986 and 1991 by The Comision de Fomento Minero, a Mexican
governmental organization, on a 150 kg. sample of un-oxidized material from the
El Creston area gave flotation recoveries of:
Element
|
Recovery
to Lead Concentrate
|
Recovery
to Zinc Concentrate
|
Au
|
81.1%
|
4.2%
|
Ag
|
87.6%
|
6.7%
|
Pb
|
97.2%
|
|
Zn
|
|
86.1%
|
Copper
recovery was not determined by this historic metallurgical test.
Ongoing Exploration
Since
the initial data for this resource calculation was submitted to MDA, the
Company has completed the drilling of 41 additional holes. The core
samples from these holes have all been delivered to the lab and are at
varying stages of analysis. The results from these holes will be
reported as they are delivered to the Company. Drill results gained during
this year’s exploration program will be subsequently modeled and
included in the Company’s next updated resource calculation likely to
be initiated in late 2008. Please refer to the Company’s
web site to view a surface drill plan identifying the structures and
drill hole locations
used in the resource calculation at
http://www.sohoresources.ca/res.cal.cnews.releaseApril3008.php.
“We
are very pleased to deliver to our shareholders our first NI 43-101 compliant
resources”, states Mr. Ralph Shearing, President and CEO of the
Company. “This is a solid and strong initial resource for a
junior company, calculated by a conservative, highly reputable and
experienced engineering firm. With the ongoing exploration program
running smoothly and efficiently full speed ahead, we are confident that Soho
will substantially add to and increase this initial resource by drilling
along strike and down dip on the three structures from where our initial
resource has been calculated. We also have many other structures hosted
within the district scale mineralizing system and contained within our
project concessions that have not yet been drill tested. We hope that drill
testing these structures in the future ongoing exploration program will also
contribute resources to the project resource inventory.”
The
Tahuehueto mineral resources were modeled and estimated by: (1) evaluating
the drill data statistically; (2) interpreting mineral domains for each
element independently on vertical cross sections spaced at intervals of 25 or
50 meters across the strike length of the mineralization; (3) coding the
block model by projecting the mineral domain interpretations horizontally
half the distance to adjacent sections; (4) analyzing the modeled
mineralization statistically to establish estimation parameters; (5) capping
high grade domain assays at Au cap = 60 g Au/t , Ag cap = 370 g
Ag/t, Cu cap = no cap, Pb cap = no cap, Zn cap = 20%; and (6)
estimating metal grades into the coded three-dimensional block model by
inverse-distance methods using approximately 4,700 sample intervals with 2
meter composites from a total of 165 drill holes (129 core and 36 reverse
circulation holes). All modeling of the Tahuehueto resources was
performed using Surpac� software.
Qualified Person
The
“qualified person”, as such term is defined in NI 43-101,
who prepared the mineral resource estimates disclosed in this press release
is Mike Gustin, PhD, RG. Dr. Gustin is an employee of Mine Development
Associates of Reno, Nevada. Dr. Gustin is independent of Soho as
determined by the definitions and criteria set forth in NI 43-101; there is
no affiliation between Dr. Gustin and Soho except that of an independent
consultant/client relationship.
The
exploration program is being conducted under the direction of Hall Stewart,
PGeo, a qualified geologist as defined under National Instrument 43-101. Mr.
Ralph Shearing, President, P.Geol, also a qualified geologist, authored this
news release.
Soho
Resources Corp. is a Canadian junior mining and exploration company with a
strategic focus on gold, precious and base metals. The company’s
current focus is directed towards the exploration and development of the
“Tahuehueto Project”, located in the northwest corner of Durango
State, Mexico, within the prolific Sierra Madre mountain range. The
Tahuehueto Project is typical of a classic Mexican epithermal vein system
that hosts multiple large scale structures strongly mineralized in Au, Ag,
Pb, Zn, and Cu.
On behalf of Soho
Resources Corp,
Ralph Shearing
President & CEO
If you would like to receive information on Soho Resource Corp and its
exploration project please contact the Investor Relations Department by email
or phone or visit our website at www.sohoresources.ca for the most up to date
information and results. Other historic information and mandatory
filings are available on line www.sedar.com
WARNING: The Company relies upon litigation protection for
"forward-looking" statements. This News Release may contain
forward-looking statements including but not limited to comments regarding
the timing and content of up-coming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in such
statements. Soho Resources Corp. relies upon litigation protection for
forward-looking statements.
The TSX Venture Exchange has not reviewed and does not take responsibility
for the adequacy or accuracy of this release.
Contact Information
Soho Resources Corp.
Glen Sandwell & Stephen Casey
Tel: 604.684.8071
Toll Free: 1.800.685.0576
Email: ir@sohoresources.ca
Web:
www.sohoresources.ca
|