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Sierra Metals Inc.

Publié le 01 février 2011

Another Intercept of Wide Silver-Lead-Zinc-Copper Mineralization at Its Melchor Ocampo Property in Z

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Mots clés associés :   Copper | Dia Bras |


Dia Bras another intercept of wide silver-lead-zinc-copper mineralization at its melchor ocampo property










Dia Bras Exploration Inc. (TSX-V:DIB - News) ("Dia Bras") (the "Company") is pleased to report that it has received assay results from diamond drill holes of its current drilling program at its Las Coloradas project in the Melchor Ocampo mineral district, Zacatecas State. Drill hole #5 (DLC10B005) intercepted 129.6 m of skarnified limestone, which averages 72.6 g/t (2.3 ounces) silver, 1.38% lead, 1.62% zinc and 0.10% copper.


"These results are a significant follow-up to the results of our first hole on the project," stated Daniel Tellechea, President & CEO. "The five holes we have completed, as well as the sixth in progress, are giving us the geologic controls we need to focus our drilling on the best mineralized portions of the deposit."


The Las Coloradas project is located in (http://www.diabras.com/files/media/58564_Melchor%20Ocampo%20District.pdf) the Melchor Ocampo mineral district that 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). Carbonate Replacement Deposits (CRDs) are Ag-Pb-Zn-(Cu-Au) deposits and have contributed approximately 40% of Mexico's historic silver production, making them second only to epithermal veins. Currently, they provide most of the zinc and lead production that put Mexico in 5th and 6th place in worldwide production. CRDs form large deposits, ranging from 25 to 100 million tonnes of ore.


The Company's geologists believe that hole #2 undercut the mineralized zone intercepted in hole #1 (see news release of October 26, 2010). Holes 3 & 4 were located 200 m and 175 m (respectively) west of holes 1 & 2 and encountered lower grade mineralization. Holes 5 & 6 (http://www.diabras.com/files/media/da35b_Cross%20Section%20Geologic%20&%20Holes.pdf see cross section) are located 50 m west of holes 1 & 2. Drill hole #6 is completed (assays pending), and the rig is drilling hole #7, which is 70 m west of 5 & 6 (http://www.diabras.com/files/media/bc5ae_NR%20No%203%20Melchor%20Ocampo%20Drill%20hole%20location%20map%20cross%20section.JPG see drill hole location map). More drill holes are required to determine the true widths of the intercepts but the Company's geologists estimate the true widths to be 80-90% of the core lengths.


Table 1 below shows the assay results from holes 2-5 at Las Coloradas.


Table 1: Assay Results from Dia Bras drill holes DLC10B002 through DLC10B005



                               Length   Silver
Hole #     From (m)   To (m)      (m)    (g/t)   Lead %   Zinc %  Copper %
DLC10B002    370.15   385.50    15.35     21.8     0.28     0.39      0.05
             477.50   503.00    25.50     11.9     0.12     0.22      0.02
             512.00   528.22    16.22     25.0     0.22     0.58      0.04
DLC10B003    305.45   318.79    13.34      3.1     0.13     0.22      0.01
             331.97   335.14     3.17     15.7     1.59     0.22      0.06
DLC10B004      3.09     7.59     4.50     36.5     0.26     1.38      0.02
             105.20   122.00     16.8     30.8     0.37     0.16      0.02
DLC10B005     152.4    282.0    129.6     72.6     1.38     1.62      0.10
Incl.         156.3   276.85   120.55     76.2     1.47     1.72      0.11
Incl.        158.15   172.15     14.0     99.1     2.30     2.89      0.20
and           197.5    202.3      4.8    182.2     3.62     5.17      0.36


All holes were 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 intrusions of granodiorite. The lower portion of the Taraises Formation is also skarnified. Underlying the skarnified La Caja Formation is the Zuloaga Formation (massive limestone), which is generally un-mineralized.


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 processed 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, 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 pursuing the development and exploration of its most advanced assets - the Bolivar Property (copper-zinc-silver) and the Cusi Property (silver). Dia Bras is also exploring several precious metal targets such as La Cascada project at the Bolivar Property, the Las Coloradas project at Melchor Ocampo (Zacatecas State), the Bacerac Property (Sonora State) and the La Verde project at the Batopilas Property (Chihuahua State).


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.


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.


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.




Dia Bras Exploration Inc.
Daniel Tellechea
President & CEO
Dia Bras Exploration Inc.
Karl J. Boltz
Vice President, Corporate Development















Sierra Metals Inc.

ISIN : CA25244F1099
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Sierra Metals est une société de production minière d'argent et de zinc basée au Canada.

Sierra Metals est productrice d'argent, de zinc, de cuivre, de fer, d'or et de plomb au Mexique, et détient divers projets d'exploration au Mexique.

Ses principaux projets en production sont BOLIVAR et CUSI au Mexique et ses principaux projets en exploration sont ARECHUYVO, MELCHOR OCAMPO, MALPASO MILL et BATOPILAS au Mexique.

Sierra Metals est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 388,7 millions CA$ (357,5 millions US$, 262,4 millions €).

La valeur de son action a atteint son plus bas niveau récent le 19 décembre 2008 à 0,04 CA$, et son plus haut niveau récent le 11 mars 2011 à 3,92 CA$.

Sierra Metals possède 161 939 959 actions en circulation.

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