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Sierra Metals Inc.

Publié le 29 septembre 2009

Discovers New High-Grade Silver Veins at Cusi and Announces Plans to Expand Silver Production: 3,315

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Mots clés associés :   Canada | Copper | Dia Bras | G Mexico | Zinc |






Dia Bras Exploration Inc.







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September 28, 2009

Dia Bras Discovers New High-Grade Silver Veins at Cusi and Announces Plans to Expand Silver Production: 3,315 g/t Silver Over 2.45 Meters at Santa Eduwiges Mine

MONTREAL, QUEBEC?September 28, 2009- Dia Bras Exploration Inc. (TSX VENTURE:DIB) is pleased to announce the positive results from its development work at the Santa Eduwiges mine of Dia Bras' Cusi property. During the mine preparation work to restart the Santa Eduwiges mine in early October, underground drifts cut a previously unknown vein that returned assay results of 3,315 g/t Ag over 2.45 meters. Further assays of this vein are confirming a high-grade discovery (see graph). Dia Bras is conducting preliminary tests to commence pilot mining at a rate to 100 tonnes per day (tpd) and increase to 200 tpd later in the fourth quarter maintaining a feed grade of 330 g/t Ag or higher. The Company plans to increase silver production from Cusi late in 2010 by developing the Promontorio mine with the objective to have a mill throughput of 400-500 tpd be the end of 2010 and to continue production expansion in the following years.

"We are pleased that our mine development program at Cusi is yielding positive surprises that confirm the exploration upside that the Cusi silver mining district, which historically has been one of the most important silver mining districts in Mexico" said Daniel Tellechea, President and CEO of Dia Bras.

Development is being done on the following veins:

Ramp 09 (Santa Rosa)

A new vein was encountered in this ramp, which is being driven towards the Santa Rosa chimney. This vein has been named San Antonio A because it is inferred to be part of the San Antonio vein system. Three samples collected across the vein returned a weighted average of 3,315 g/t Ag over a width of 2.45 meters, or 2,715 g/t Ag over 3.05 m. Nine samples were collected across the back of the vein for a distance of 10 meters; assay results have been returned for six. Results from Ramp 09 are shown in the following table:

                   Sample       Ag      Pb      Zn
Sample #         Width (m)    (g/t)      %       %
Face Samples
121952               1.20    1,594     2.59   0.19
121951               0.50    4,899     5.80   0.64
121957               0.75    5,011     6.50   0.20
121958                0.6      269     0.80   0.17
results of face
 sample              3.05    2,715     3.45   0.26
Back Samples
121955                0.7    1,306     0.51   0.54
121960                1.0      389     0.91   0.36
121959                0.9      601      1.0   0.29
811611                0.8      811     1.57    3.8
811622                0.6      493     10.4   5.05
811623                1.0    1,365     1.72   3.36


In addition, underground drill hole DC09M083 penetrated the San Antonio vein, with the following results:

Hole         From       To   Interval    Estimated        Ag
Number         (m)      (m)        (m)  True Width (m)  (g/t)         Vein
DC09M083    13.20    16.50       3.30            2.85   1313   San Antonio
Including   13.20    15.00       1.80            1.55   2990


See Santa Eduwiges Mine map, available at the following address: http://www.diabras.com/en/newscenter/2009/pr_09_28_09_map_Santa_Eduwiges.pdf

See Santa Rosa Chimney map, available at the following address: http://www.diabras.com/en/newscenter/2009/pr_09_28_09_map_StaRosa_Chimney.pdf

Tascates Veins

These veins were identified by two underground drill holes, the best of which (DC09M077) returned 1,040 g/t Ag over 1.4 m core length from the Tascates 1 vein and 247 g/t Ag from the Tascates 2 vein (see attached map). The Tascates 1 vein exhibits its best grades where the vein curves, and eight samples collected along a 22 m length of the vein averaged 305 g/t Ag over an average width of 0.74 m. Assay results are pending for samples collected from the Tascates 2 vein. The Tascates assays are shown in the following table:

Sample      Sample    Width Ag        Pb        Zn
Number          (m)        g/t         %         %
121962        0.60         333      0.99      7.22
121963        0.83         365      4.73      3.29
121966        0.75         290      1.37      9.59
121977        0.70         192      0.51      7.45
121978        0.75         208      1.07      4.34
121979        0.85         312      2.22      5.54
121981        0.75         528      0.91     10.37
121984        0.70         210      0.42      3.22


The attached map illustrates the expected intersection of the two veins about 20-30 m beyond the current drift faces. A zone of stockwork breccia is expected in this area.

See Tascates Veins map, available at the following address: http://www.diabras.com/en/newscenter/2009/pr_09_28_09_map_Tascates_Veins.pdf

Santa Marina Vein

This vein has been developed along a 50 meter length and cross-cut in four places. Seven samples have been collected from the vein faces in the cross-cuts. The best results are 2.1 m averaging 1,215 g/t Ag and 2.2 m averaging 1,433 g/t Ag. The individual sample results are shown in the following table where different sampled faces are separated by gray bars. The Santa Marina results are summarized on the accompanying map.

                  Sample        Ag        Pb        Zn
Sample Number   Width (m)      g/t         %         %
116046               1.5       104      0.11      0.28
116047               0.7       344      0.16      0.11
116048               1.0       477      1.11      0.09
116050               1.1     1,307       0.4       0.2
116051               1.0     1,113      0.74      0.11
121942               1.2       292      0.10      0.45
121928               1.0     2,802      0.25      0.00
121930               1.1     1,825      0.25      0.00
121929               1.0       352      0.20      0.00
121931               0.8       428      0.17      0.00
121932              1.05       351      0.14      0.00
121933               0.9       610      1.94      0.43


See Santa Marina map, available at the following address: http://www.diabras.com/en/newscenter/2009/pr_09_28_09_map_Sta_Marina_Vein.pdf

San Antonio Vein

This vein was partially mined early in the 20th century and Dia Bras' work has opened un-mined portions of the vein in the same development areas as the Santa Marina vein. It has been developed along a 20 m extent and thirteen samples have been collected at the vein face and along its back. The individual sample results are shown in the following table where different sampled areas are separated by gray bars. The Santa Marina results are summarized on the accompanying map.

Sample       Sample       Ag       Pb       Zn
Number     Width (m)     g/t        %        %
116097         0.60      206     1.08     0.24
116098         1.35      101     0.51     0.27
116071         1.10      216     1.65     0.62
116062         1.50      702     0.48     0.15
116073         1.10      178     0.79     0.42
116063         0.60      315     2.63     0.21
116064         1.80      299     0.80     0.19
116401         0.50      210     0.81     0.67
43800          1.15      420     1.47     1.07
116409         1.50      200     1.58     0.13
116408         1.40      370     3.00     0.21
116407         1.20      180     0.50     0.03
116406         1.50      570     4.04     0.16


See Santa Marina Vein / Santa Eduwiges map, available at the following address: http://www.diabras.com/en/newscenter/2009/pr_09_28_09_map_Sta_Marina_Vein.pdf

Pilot Mining

The development work being done at Santa Eduwiges is the initial stage of pilot mining of Santa Eduwiges, which is scheduled to begin in October at an initial rate of 100 tpd. Production will be increased to 200 tpd later in the fourth quarter. The Company's objective is to maintain a mill feed grade of 330 g/t Ag or higher.

In preparation for pilot mining, the Company has been tuning the Malpaso circuit of the Malpaso mill with lower grade rock. During September 1-25, the mill has processed 1,601 tonnes at an average grade of 282 g/t Ag, 1.11% Pb and 1.83% Zn. Tuning of the mill has included varying reagent mixes and varying retention time in the flotation cells. Various options have been considered with the objective of determining how to produce the most economic silver concentrate. The most favorable option has been selected and has been implemented.

The tailings from this work are being stored in a separate tailings pond and will be processed in the vat leach circuit currently under construction.

Vat Leach

Construction of vats and associated circuits for leaching of the flotation tailings was started on August 3 and is scheduled to be completed in mid-November. The decision to construct the vats was based on the results of metallurgical testing that total silver recoveries of 80-85% can be achieved with a combination of flotation and leaching methods (see press release of June 10, 2009: http://www.diabras.com/en/newscenter/2009/pr_2009_06_10.php).

Further Development

Dia Bras plans to expand silver production from the Cusi property in late 2010 by developing the Promontorio mine beginning in early 2010. When the Company's new mill at the Bolivar site is commissioned, the Triunfo circuit of the Malpaso mill will become available to process rock from Promontorio. The objective is to have mill throughput of 400-500 tpd by the end of 2010, and to continue expansion of production in the following years.

Method of analysis

Samples were prepared at the Chemex lab facility in Chihuahua, Mexico, and analyzed by ICP and AA methods at their facilities in Vancouver, Canada. Samples sent for analysis are 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 Chemex.

Quality control

The quality assurance-quality control (QA-QC) of Dia Bras has been described in detail in both RPA's 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., RPG, CPG and Chairman 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 the State of Chihuahua, in northern Mexico. The Company is committed to developing and adding value to its assets - the Bolivar copper-zinc project and the Cusi silver mining camp. The Company trades on the TSX Venture Exchange under the symbol "DIB" .For further information on Dia Bras visit www.diabras.com or contact:

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 release..

Forward-looking statements

This news release contains certain statements that constitute forward-looking statements. Forward-looking information includes, but is not limited to, information concerning Dia Bras's 2009 guidance respecting pilot-mining production, and potential plans for Cusi project. Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to foreign currency fluctuations; risks inherent in the mining industry including environmental hazards, industrial accidents, unusual or unexpected geological formations, ground control problems and flooding; risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; the potential for and effects of labour disputes or other unanticipated difficulties or shortages of labour or interruptions in production; actual rocks mined varying from estimates of grade, tonnage, dilution and metallurgical and other characteristics; the inherent uncertainty of pilot-mining activities and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; uncertain political and economic environments; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; and other risks and uncertainties. Refer to "Risk and Uncertainties".

Forward-looking information is, in addition, based on various assumptions including, without limitation, the expectations and beliefs of management, the assumed long-term price of zinc, copper, lead and silver; the regulatory and governmental approvals for the Company's projects and other operations on a timely basis; access to financing, appropriate equipment and sufficient labour. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Although the forward-looking statements contained in this MD&A are based upon what management believes to be reasonable assumptions, the Company cannot guarantee that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this MD&A, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances, except as required under applicable securities regulations.



Dia Bras Exploration, Inc.
Daniel Tellechea
President & CEO


Dia Bras Exploration, Inc.
Thomas L. Robyn





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Sierra Metals Inc.

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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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