Thursday, April 17, 2008
Silvermex Extends Strike Length at San Marcial to 3,500 Meters Trenching Returns 300 g/t Silver Across 22.1 Meters
Silvermex Resources Ltd ("Silvermex") announces results of its surface and underground exploration programs on its optioned San Marcial Property in southern Sinaloa. Highlights include grades as high as 300 g/t silver across 22.1 meters and a higher grade section of 994 g/t silver over 2 meters. The surface and underground exploration program at San Marcial included geological mapping, surface channel sampling, drill core re-logging and road construction.
Geological mapping (1:1,000) was completed over a 360 hectare area exposing 3.5 kms of strike length along the San Marcial vein system. This is an increase of 3 kms over the 500 meter area which contains the existing inferred resource of 14.26 million ounces of silver. Channel sampling of the surface exposures of the vein system and re-logging of 3,127 meters of core from previous drilling campaigns by prior operators were also completed. This program provided valuable information regarding the geologic history, nature of the mineralization and deposit model used to support the next phase of exploration. The next phase program will include a 5,000 meter diamond drill program with a principal objective of expanding the current resource.
The San Marcial vein system outcrops intermittently for over 3.5 kilometers and varies in width from 2 meters to 35 meters. The system strikes NW-SW and dips between 55° to 65° NE. The host rocks consist of a volcanic sequence of andesitic composition. The hanging wall is composed of tuffs, ash flows and conglomerates with the footwall composed of tuffs, lava flows and a volcano-sedimentary sequence in the extreme southern portion of the claim block exposed by the historical workings. The volcano-sedimentary sequence in a very important marker as it is generally affected by a strong propilitization with 5% to 10%, disseminated pyrite associated with high grade silver, lead and zinc values.
A total of 143 channel samples were collected from the various trenches and outcrops. The samples were forwarded for both assay and multi-element analysis by four-acid digestion method. The results confirm the high grade tenure of the surface mineralization and the continuity of the ore-shoot that hosts an inferred mineral resource of 14.6 million ounces of silver (2,310,000 tonnes grading 191.79 g/t Ag, 0.32% Lead and 0.66% Zinc). Five trenches are located along 400 meters of strike within the area hosting the majority of historical workings. The mineralization ranged from 300 g/t Ag across 22.1 meters to 994 g/t Ag across 2.0 meters. The mineralization remains open to the southeast. To the northwest the surface exposures of the San Marcial vein system are not as continuous but can be traced or inferred by an alteration zone that extends for more than 2.5 kilometers. These outcrops vary in width from 2 to 35 meters. While these surface expressions generally returned lower silver grades, the presence of indicator minerals (i.e. arsenic, antimony, manganese, lead, zinc and barium) allow us to infer the continuity of the vein system and the probability of higher silver grades at depth.
Table 1. Reports the assay results of Silvermex's recently completed channel sampling program.
Click to Enlarge
All samples have been submitted to IPL in Richmond, B.C. for four acid digestion followed by ICP analysis. Duplicates, standards and blanks have been randomly inserted to the sampling stream at a ratio of 1 check assay for every 25 samples. Check assays are being completed at ALS Chemex in North Vancouver, B.C.
Pursuant to National Instrument 43-101, Darcy Krohman, P.Geo., C.A,. Executive Vice-President and CFO of Silvermex Resources Ltd. is the Qualified Person (QP) responsible for the disclosure in this news release. Field work has been conducted by Silvermex Resources Ltd. employees and contractors.
For Further information, contact:
Arturo Bonillas, B.Sc.(Eng)
Hermosillo, Sonora, Mexico
Darcy Krohman, P.Geo., C.A.
Executive Vice-President & CFO
Vancouver, BC, Canada
For Investor Relations, contact:
Vancouver, BC, Canada
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