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Progress on Mine Development and Exploration Program Tres Marias
Mine, Mexico
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HIGHLIGHTS
- Eighty seven additional exploration targets have been identified
within the mining concession.
- War Eagle Mining expects to release measured and indicated resource
in July 2007 that will be compliant with the Canadian National
Instrument, NI 43-101
- Ongoing drilling underground on the 6 � mine level at Tres Marias
returned high-grade zinc value of 26.5% over 10.26 meters (unweighted
average) and high-grade germanium of 143 g/t over 3.36 meters.
May 31, 2007, Vancouver, BC, War Eagle Mining Company Inc. (WAR-TSX
Venture Exchange) Mr. Terence Schorn, P.Geo., President and CEO of War
Eagle Mining Company Inc. reports on the progress of the mine
development and expanded regional exploration programs at the Tres
Marias Mine Chihuahua, Mexico.
Exploration Program
Exploration Targets, Recon Work
Through geologic & structural mapping, remote sensing and field
surveys, 87 exploration targets within the concession have been
identified by Henry Truebe, PhD. Field crews are currently conducting
detailed reconnaissance, including geophysical testing and sampling
over these targets.
Geophysics
High Resolution Resistivity Survey
This spring (2007), seventeen lines of high resolution resistivity
geophysics were performed over the Tres Marias mine site and
exploration targets of interest within the associated concession
boundaries, including exploration targets La Blanca canyon & El Graven
(mentioned in previous news releases as high priority targets). The
goal of the geophysical survey is to clearly identify collapse breccia
features in areas of interest. Collapse breccias host the mineral
deposit within the Tres Marias mine and we expect to see similar
features associated with any new discoveries in the concession.
Mine Area (Target 26)
A total of 9 resistivity lines were collected above and directly south
of the mine workings. Three features were noted directly south of the
mine site have been identified as areas of additional interest. These
features are all within 250 meters (820 ft) of current mine workings.
Northwest of Mine (Target 17)
A resistivity line located northwest of the mine indicates high
conductivity over 90 meters (295 ft) indicative of a collapse breccia
zones. The area is only 450 meters (1476 ft) away from current mine
workings.
La Blanca Canyon (Target 19)
Two resistivity lines were carried out cross-cutting the canyon. Both
lines indicate a correlating conductive feature, characteristic of a
collapse breccia zone.
El Graven (Target 18)
Three resistivity lines were carried out at the El Graven area,
including a new area of interest adjoining to the northwest, along
strike. The geophysics has produced a conductive feature ranging from
160 (525 ft) to over 300 meters (984 ft), laterally, with considerable
depth and sharply defined boundaries. Again, this conductive feature is
characteristic of a brecciaed collapse zone.
Gravity
379 gravity readings were collected over the mine area and to the
south, including a detailed survey over La Blanca Canyon. Processing is
near completion and very preliminary interpretations indicate density
contrasts and zones of interest. Final processing and interpretation
may yield additional results
Definition Drilling Progress
The underground drilling program is on the 37th hole located on the 6 �
level of the mine and surface drilling is completing the 7th drill hole
in the mine area. There are drill samples at the lab being analyzed at
this time and we are expecting more results shortly. As is the case at
most labs throughout North America, assay results are taking longer due
to the volume of samples in the system.
Resource drilling on the 6 � level includes the following results from
holes #24 and #25.
Drillhole From To Distance Mine Level Zn (%) Pb (%) Ge (ppm)
(meters)
TE-24 0 1 1 6 1/2 28.31 0.0759 <2
TE-24 2.4 5.61 3.21 6 1/2 28.22 0.0803 <2
TE-24 5.61 8.61 3 6 1/2 26.24 0.1060 <2
TE-24 8.61 10.95 2.34 6 1/2 33.14 0.2370 <2
TE-24 10.95 12.66 1.71 6 1/2 18.51 0.1040 10.80
TE-24 16.4 17.6 1.2 6 1/2 20.15 0.1140 <2
TE-24 18.9 20.5 1.6 6 1/2 31.26 0.0820 <2
TE-24 20.5 22 1.5 6 1/2 33.62 0.0712 7.83
TE-25 0 3 3 6 1/2 17.33 0.0672 7.27
TE-25 3 7.14 4.14 6 1/2 33.97 2.3700 37.80
TE-25 7.14 10.5 3.36 6 1/2 12.54 14.8200 143.00
TE-25 10.5 12.6 2.1 6 1/2 2.64 0.0286 <2
TE-25 12.6 14.5 1.9 6 1/2 29.12 0.4440 49.70
TE-25 14.5 16.5 2 6 1/2 0.18 0.0121 <2
TE-25 19 21 2 6 1/2 14.72 0.5150 93.60
TE-25 21 23.3 2.3 6 1/2 9.12 0.5490 80.60
Upon the completion of the Minesite drilling program, War Eagle expects
to have completed an estimated 80 underground diamond drill holes, 40
surface diamond drill holes, 31 percussion holes and 1,296 - 5ft
channel samples. The Company expects to release during July a resource
estimation compliant with the requirements of policy 43-101 which will
include a measured and indicated resource. Surface drilling will test
several of the 87 known drill targets with similar potential to the
Tres Marias mine within the 28 square kilometer (17.4 sq. mile)
concession.
An application for a mine development permit is being prepared for
submission to the Federal Government of Mexico. The application will
consist of permitting of a 9 foot by 15 foot two compartment shaft to
be sunk to approximately 500 feet depth. The shaft will be sunk to
beneath the existing 7th level and be equipped with a manway / services
compartment and a counterweighted skip/cage combination to provide
services for men and materials as well as production purposes.
The Company is also pleased to announce that effective March 23rd, 2007
the option to acquire a 100% interest in the Tres Marias Property in
Chihuahua Mexico, has now been fully exercised.
The Project is under the direction of Mr. Terence Schorn, P. Geo., the
qualified person pursuant to the National Instrument 43-101.
For further information contact:
Bob Faris, Vice President, Corporate Development
at 1-800-877-1626 or 604-606-7973.
www.wareaglemining.com
info@wareaglemining.com
"Terence F. Schorn"
Terence F. Schorn, P. Geo
President, War Eagle Mining Company Inc.
This News Release may contain forward-looking statements based on
assumptions and judgments of management regarding future events or
results that may prove to be inaccurate as a result of exploration and
other risk factors beyond its control, and actual results may differ
materially from the expected results
The TSX Venture Exchange has not reviewed and does not accept the
responsibility for the adequacy or accuracy of the contents of the
foregoing.
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Copyright (c) 2007 WAR EAGLE MINING COMPANY INC. (WAR) All rights
reserved. For more information visit our website at
http://www.wareaglemining.com/ or send mailto:info@wareaglemining.com
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