ECU Silver Hits Gold at Depth
Highlights
· Drilling Supports Geologic Model for Large Massive Sulphide System.
o Hole SJ18-22, cuts 5.9 g/t gold (Au) and 603 g/t silver (Ag) over a core length of 0.46 metres (1.5 feet).
o Hole SJ18-23 cuts calcite veins over 17.9 metres (60 feet) of core length including;
§ 6.6 g/t gold over a core length of 3.5 metres (11.5 feet).
§ 10.5 g/t gold over a core length of 1.65 metres (5.4 feet).
· Drilling is Proving Resource Vertical and Lateral Continuity.
· Subsequent Drilling Aimed at Finding Additional Massive Sulphides.
Toronto, Ontario, September 3rd, 2008 – ECU Silver Mining (TSX:ECU) (the “Company”) is pleased to announce results from follow-up drilling of the massive sulphide discovery hole SJ18-21 (the “M-S Discovery Hole”) reported in a recent press release dated July 19, 2008. The M-S Discovery Hole had intersected two massive sulphide veins (the “M-S Veins”) at depth below the Santa Juana vein system within the Velardeña Property.
Two follow-up drill holes, SJ18-22 and SJ18-23 cut i) 5.9 grams per tonne (g/t) gold (Au) and 603 g/t silver (Ag) over a core length of 0.46 metres (1.5 feet) and ii) 6.61 g/t Au over a core length of 3.5 metres (11.5 feet), respectively. These follow-up holes were drilled laterally and above the M-S Discovery Hole, between it and the previous drilling, for two key reasons; i) to help confirm the continuity of the current N.I. 43-101 mineral resource, and ii) to gain additional information to accurately guide future deep drilling to define the very important massive sulphides below.
The recent drilling did not intend to hit massive sulphides but to hit gold-rich calcite veins along the same geological contact as the lower lying massive sulphide veins. The location and assay results of these new drill holes, not only supports the continuity of the Company’s mineral resource but also provides important information and ongoing evidence of a nearby large massive sulphide system at depth. The results from the calcite-veins provides information that will allow calculating “vectors” that will point towards the source of the mineralization and, consequently, towards the massive sulphides. Short of intercepting massive sulphides, these are the best results we could hope for.
The M-S Discovery Hole intercepted the M-S Veins at a depth of approximately 900 metres (3,000 feet) below level 18 or alternatively 1,400 metres (4,600 feet) below surface. By comparison many underground mines have depth extents exceeding 3,000 metres (10,000 feet). The two follow-up holes, SJ18-22 and SJ18-23 were drilled 380 metres (1,150 feet) and 450 metres (1,475 feet) respectively above the M-S Discovery Hole and 180 metres (590 feet) east and 120 metres (395 feet) west, respectively.
Sections showing the location of the drill holes are located at the Company’s website.
Gold at Depth is Strong Indicator of more Massive Sulphides
The M-S Discovery Hole was designed to intersect a very continuous vein/mineralized body, the A4 vein, normally located at or near the contact between an intrusive and a green skarn unit (the “Intrusive Contact”). This vein, the A4, and the corresponding contact are prevalent and very prominent within the Santa Juana vein system. The M-S Discovery Hole was extremely successful as it is now recognised that one of the M-S Veins is the depth extension of the A4 vein (the “A4 M-S Vein”) with widths and grades that are much higher than the average values for the current, above lying, mineral resource. The M-S Veins widths and grades are very characteristic of massive sulphides replacement bodies that are expected to lie below the Santa Juana veins system. The interpreted A4 M-S Vein was cut near a depth of 900 metres (2,950 feet) below level 18 and yielded 3.66 g/t Au, 295 g/t Ag, 7.87% lead (Pb) and 12.07% zinc (Zn) over a core length of 12.04 metres (40 feet). The second M-S Vein yielded 7.90 g/t Au, 550 g/t Ag, 11.25% Pb and 27.68% Zn over a core length of 1.75 metres (6 feet).
The first follow-up hole, SJ18-22, intercepted the Intrusive Contact, went through the intrusive before entering a marble unit and then hit the contact between the marble and a new green skarn (the “Skarn Contact”). This hole cut the A4 vein approximately 380 metres (1,250 feet) above the M-S Veins and yielded 5.9 g/t Au, 603 g/t Ag, 0.07% Pb and 0.01% Zn over a core length of 0.46 metre (1.5 feet). Several additional veins were cut with good assay grades over small widths but significant assays were obtained at the Skarn Contact in a new vein that yielded 5.86 g/t Au, 54 g/t Ag, 0.04% Pb, 0.72% Zn and 2.26% copper (Cu) over a 3 metre (10 feet) core length. This last vein is of special interest because no mineralization has been found above, along the same Skarn Contact. This suggests that additional massive sulphide mineralization at depth may be associated with the source of this new vein.
The second follow-up hole, SJ18-23, hit the A4 vein approximately 450 metres (1,475 feet) above the M-S Veins and returned a wider zone that is abundant in calcite veins over 17.9 metres (60 feet) of core length including 6.61 g/t Au over a core length of 3.5 metres (11 feet) and 10.5 g/t Au over a core length of 1.65 metres (5.4 feet).. A wide package of calcite veins with good gold contents but depleted in other metals such as silver, lead and zinc are an excellent indicator of nearby massive sulphides. Due to the depth capacity of this drill, this hole stopped short of the Skarn Contact.
A third follow-up drill hole, SJ18-24, was aimed directly above the M-S Discovery Hole mid-way between the previous deepest drill hole and the M-S Veins. This drill hole flattened much more rapidly than planned and was abandoned short of target.
Subsequent Drilling Aimed at Finding the Heart of the Massive Sulphides
The fourth follow-up hole, SJ18-25, is now being drilled to intercept the A4 Vein at depth and to the west of the M-S Veins. Upon completion, this drill hole will provide the fourth deep intercept, allowing vectors to be drawn to guide future drilling towards the heart of the anticipated massive sulphide body. This drill hole is currently nearly completed.
Once the fourth follow-up hole is completed, a similar hole will be drilled on the west side of the M-S Discovery Hole, in an attempt to intercept the same zone 100 metres (330 feet) above and 300 metres (980 feet) to the west. Then the drill will move back to the M-S Discovery Hole and the second follow-up hole to push them deeper in an attempt to identify additional massive sulphides beyond the M-S Veins. In order to do so, the drill has been modified to give it an additional 200 metres (660 feet) of drilling capacity.
Table 1 - Significant Intercepts from Drill Hole SJ18-22
Sample # From To Length Gold Silver Lead Zinc
(m) (m) (m) (g/t) (g/t) % %
51140 40.85 41.04 0.19 3.80 212 0.69 0.42
51141 53.56 53.76 0.20 0.55 118 4.50 9.00
51142 82.35 82.80 0.45 1.70 49 0.20 0.12
51146 185.97 186.27 0.30 1.60 29 0.02 0.01
51161 377.60 377.80 0.20 6.10 577 0.07 5.20
51162 382.14 382.60 0.46 5.90 603 0.07 0.01
51135 585.10 586.35 1.25 2.30 43 0.05 0.20
51136 586.35 586.70 0.35 4.80 91 0.03 0.03
51137 586.70 588.10 1.40 9.30 55 0.03 1.35
Average 585.10 588.10 3.00 5.86 54.2 0.04 0.72
Table 2 - Significant Intercepts from Drill Hole SJ18-23
Sample # From To Length Gold Silver Lead Zinc
(m) (m) (m) (g/t) (g/t) % %
51180 254.87 255.16 0.29 9.90 42 0.05 0.10
51182 292.01 292.47 0.46 2.90 24 0.02 0.04
51189 312.67 312.87 0.20 0.70 495 0.05 0.17
51190 318.76 319.26 0.50 0.50 138 0.06 0.07
51192 333.95 334.20 0.25 1.30 173 0.05 0.08
51184 397.33 398.45 1.12 4.30 28 0.03 0.07
51193 400.30 400.50 0.20 3.20 84 0.06 0.04
51194 451.16 451.35 0.19 4.30 29 0.02 0.03
51195 458.46 458.66 0.20 2.00 273 0.04 0.07
51196 461.79 462.00 0.21 17.70 15 0.03 0.04
51197 476.21 476.41 0.20 1.10 29 0.04 0.04
51198 478.05 478.55 0.50 7.50 9 0.02 0.03
51199 479.45 480.19 0.74 2.10 16 0.04 0.04
51501 487.53 487.83 0.30 8.20 8 0.02 0.02
51502 489.50 491.15 1.65 10.50 56 0.08 0.03
51503 499.95 500.13 0.18 7.40 7 0.05 0.19
51504 500.36 501.24 0.88 2.80 9 0.04 0.05
51505 502.49 502.81 0.32 14.70 20 0.03 0.02
51506 503.04 503.45 0.41 1.30 19 0.02 0.03
51507 503.45 505.41 1.96 7.20 55 0.11 0.19
51508 510.47 510.62 0.15 3.50 7 0.02 0.17
51510 516.71 517.39 0.68 1.80 7 0.02 1.01
51511 520.52 521.00 0.48 1.10 74 1.62 3.65
51512 536.43 537.11 0.68 2.90 13 0.03 0.07
Contact Zone 487.53 505.41 17.88 2.40 12.64 0.02 0.03
Contact Vein 502.49 505.41 2.92 6.63 41.78 0.08 0.13
Cautionary Statements and Additional Information:
Readers are cautioned that until a prefeasibility study is completed, there are no assurances these latest mineralized zones will be economically viable. True widths vary between 50% and 65% of core lengths. Samples were assayed at the ERSA laboratory in Torreón, Coahuila, Mexico which is currently in the process of being certified. Mr. Michel Roy, P. Geo., a “qualified person” within the meaning of NI 43-101, prepared the technical information disclosed in this news release.
ECU Silver Mining Inc. is focused on the exploration, development and mining of gold, silver and base metals at its Velardeña District Properties in Durango, Mexico. The area is comprised of three properties, the Main Velardeña Property, the Chicago Property and the San Diego Property. The properties are located near to each other and include five historical mines - Santa Juana, Terneras, San Mateo, San Juanes, and the San Diego mine. ECU’s goal is to establish a significant polymetallic mineral resource in the heart of Mexico. ECU's mission is to become a pre-eminent silver and gold producer through the development of existing, and additional potential resources at Velardeña.
For further information please visit www.ecu.ca or contact:
CHF Investor Relations ECU Silver Mining Inc.
Chris Haldane, Account Manager Stephen Altmann, President
Tel: (416) 868-1079 ext. 237 Tel: (416) 366-2427
Email: chris@chfir.com Email: ecu@ecu.ca
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