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Rio Alto Mining Limited

Publié le 30 janvier 2008

Announces an Exploration Update on its Iguana Project

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Mots clés associés :   Canada | G Mexico | K Street | Zinc |

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January 30, 2008

Mexican Silver Mines Ltd. Announces an Exploration Update on its Iguana Project

Mexican Silver Mines Ltd. ("Mexican Silver") (TSXV: MSM; Frankfurt WKN: A0MSLE) is pleased to provide an update on exploration activities at its Iguana project on the Ral Concession.  Diamond drilling commenced on the project in the fourth quarter of 2007 with a total of 911 meters being drilled to date utilizing MSM’s company owned truck mounted Longyear 44 rig.  A total of seven holes are planned in this first phase drilling program at Iguana with three holes completed at this time.  Hole IG-04 is currently being drilled at a depth of 200 meters.  All assays from sampling of drill core are pending.

The Iguana project is located within MSM’s Ral Concession which encompasses an area of 10,160 acres. High grade silver-lead-zinc mineralization is found as replacement mantos and skarns within contact zones of Tertiary granodiorites in contact with Cretaceous limestones. In some of the mine workings, high grade mineralization extends for distances over one hundred meters as a replacement of individual limestone horizons.

At Iguana, both surface and underground rock chip sampling, primarily in the area of the Guadalupe Mine, has returned indications of high grade zones providing MSM with silver assays in the kilogram per ton range.  Project scale rock chip and soil sampling has been carried out on a grid covering the entire area of surface alteration which coincides well with the area of historic mining activities. From the mapping program, favorable intrusive/limestone contacts have been defined and trenched exposing potential target zones which are now being drilled.

A geologic interpretation of the lithologies encountered in this drilling indicates that both high angle intrusive dikes and conformable intrusive sills are present within the overall zone of surface alteration that defines the Iguana project.  Clay, quartz, sericite and pyrite alteration is seen in a number of the intermediate intrusive phases present in the drill core.  Additionally, galena and sphalerite has been observed in varying amounts in spatial relation to these intrusive phases and within the carbonate horizons.

Upon the completion of this first phase drilling program at Iguana, and depending on the distribution and intensity of alteration in the subsurface, consideration will be given to running a close spaced IP survey to further define potential targets.

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 performed 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 on the Vallecillo Property, is the Corporation's nominated Qualified Person responsible for monitoring the supervision and quality control of the programs completed within the its properties. Mr. Dynes has reviewed and verified the technical information contained in this news release.

This news release contains forward-looking information including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations and potential mineral recovery processes. Forward-looking information includes disclosure regarding possible future events, conditions or results of operations that is based on assumptions about future economic conditions and courses of action, and therefore, involves inherent risks and uncertainties. When used in this news release. The words "estimated", "plan", "anticipated", "expected", "intend", "believe", and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Mexican Silver to be materially different from any future results, performance or achievement expressed or implied by such forward-looking statements. For any forward-looking information given, management has assumed that the analytical results it has received are reliable, and has applied geological interpretation methodologies which are consistent with industry standards. Although management has a reasonable basis for the conclusions drawn, there can be no assurance that forward-looking statements will prove to be accurate and actual results may differ materially from those currently anticipated in such statements. For such statements, we claim safe harbour.

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.



Feisal Somji, B.Sc., MBA
President and Chief Executive Officer


Mexican Silver Mines Ltd.
Feisal Somji, President & CEO
Phone:  403.236.5089
Fax:      403.398.0693
Email: info@mexicansilvermines.com
Investor Relations
Jamie Mathers, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 236
Phone: 866.684.4209

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.


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Rio Alto Mining Limited

ISIN : CA76689T1049
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Rio Alto est une société développant des projet miniers de cuivre et d'or basée au Canada.

Rio Alto est en développement de projets de cuivre, d'or et d'argent au Perou, et détient divers projets d'exploration au Mexique.

Son principal projet en développement est LA ARENA au Perou et ses principaux projets en exploration sont ANILLO DE FUEGO, PROVIDENCIA, RAL ( LA IGUANA ), VALLECILLO, MAMULIQUE et LA BLANCA au Mexique.

Rio Alto est cotée au Canada. Sa capitalisation boursière aujourd'hui est 793,2 millions CA$ (798,5 millions US$, 597,1 millions €).

La valeur de son action a atteint son plus bas niveau récent le 26 décembre 2008 à 0,07 CA$, et son plus haut niveau récent le 23 février 2012 à 4,54 CA$.

Rio Alto possède 175 886 000 actions en circulation.

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Dans les médias de Rio Alto Mining Limited
31/01/2008Follow up N° 2
Rapports annuels de Rio Alto Mining Limited
2007 annual report
2007 Q1 report
2006 Q3 report
2006 annual report
Financements de Rio Alto Mining Limited
30/11/2010Completes First Tranche of Private Placement for C$12.8 Mill...
07/01/2009Extends Expiry Date of Outstanding Warrants
23/12/2008Proposes to Extend Expiry Date of Outstanding Warrants
Attributions d'options de Rio Alto Mining Limited
23/07/2009Name Change to Rio Alto Mining Limited and Grant of Stock Op...
25/05/2009Announces Grant of Stock Options
Nominations de Rio Alto Mining Limited
14/03/2011Announces Appointment of Victor Gobitz and Sidney Robinson t...
18/02/2011Announces the Departure of Feisal Somji
17/06/2008Appoints Jose Sayo Garcia as VP Exploration and Brings Addit...
Projets de Rio Alto Mining Limited
29/04/2011(La Arena)Drills 173 Metres of 1.53 Grams of Gold Per Tonne
09/02/2011(La Arena)Announces Acquisition of 100% of La Arena Project
05/08/2009(La Arena)La Arena Surface Rights and Project Update
29/06/2009(La Arena)Confirms Option Agreement on La Arena and Equity Position in...
07/07/2008(Mamulique)Commences First Phase Drilling at the Mamulique Project
04/06/2008(Ral ( La Iguana ))Reports Extension of Mantos in the First Phase of Drilling a...
12/05/2008(La Blanca)Discovers New High Grade Veins
25/03/2008(Vallecillo)Initiates IP Geophysics at Vallecillo
19/02/2008(Mamulique) Announces Positive Exploration Results and Drill Plan for t...
30/01/2008(Ral ( La Iguana ))Announces an Exploration Update on its Iguana Project
23/01/2008(Vallecillo)Reports further drill results from the Vallecillo drill prog...
Communiqués de Presse de Rio Alto Mining Limited
01/04/2015Tahoe Resources and Rio Alto Mining Announce Completion of M...
30/03/2015Announces Shareholder and Court Approval of the Plan of Arra...
16/03/2015Announces Net Income of US$49.8 Million for 2014
20/07/2011Drills 238 Metres of 1.06 Grams of Gold Per Tonne
15/06/2011Drills 134 Metres of 2.29 Grams of Gold Per Tonne
09/05/2011(La Arena)Pours 1,115 Oz of Gold at La Arena
30/06/2009Completes Acquisition of Rio Alto Mining Limited
22/06/2009Enters Definitive Agreement to Acquire Rio Alto Mining Limit...
10/03/2009Enters into Letter of Intent to Acquire Rio Alto Mining Limi...
25/02/2009at 2009 Prospectors & Developers Association of Canada Confe...
19/12/2008Featured on Business Television
19/11/2008Provides a Corporate Update and Initiates Review of Strategi...
23/04/2008 Grants and Re-Prices Options
08/04/2008 Announces the Addition of Jim Glass to Board of Directors
29/02/20082007 Q3 Report
28/01/2008Announces Exploration Results from the Magnolia Mine Area wi...
05/12/2007 Announces Positive Drill Assay Results From Vallecillo and ...
30/11/20072007 Q2 report
19/11/2007 Acquires the Voladora Mine in the State of Nuevo Leon
31/10/2007Increases Drill Program at Vallecillo
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