ECU Silver Mining Inc. is a Canadian-based, mining company, listed on the TSX trading under the symbol ECU. Actively engaged in gold, silver, lead and zinc exploration, mining and milling since 1997, the Company has a cluster of five mines in the historically prolific Velardeña mining district of Central Mexico, where it has had a series of major discoveries.
ECU has three properties within close proximity comprising the Velardeña District Properties. These are the main Velardeña Property, the Chicago Property and the San Diego Property (a 50% Joint Venture) all located in the prolific mining district of Velardeña. The properties are located in Durango State, central Mexico, situated approximately 95 kilometres south-southwest of the city of Torreón, Coahuila State, and 140 kilometres northeast of the state capital Durango.
The Velardeña Properties are located in the State of Durango, Mexico about 600 miles southwest of Houston, TX. In January 2009, ECU published its fourth technical report where it outlines a mineral resource containing over 30 million tonnes of silver, gold, lead and zinc. We have grown our mineral resource from 1.6 million tonnes in July 2005 to an enormous 30 million tonnes. This is over a 1700% increase in just 3½ years, a tremendous achievement!
An independent audit by Toronto-based Micon International, completed for the National Instrument (NI) 43-101 technical compliance report and reported January 20th, 2009, identifies a measured and indicated resource of 4 million tonnes containing 40 million ounces of silver-equivalent and an inferred resource of 26 million tonnes containing 391 million ounces of silver-equivalent.
The NI 43-101 technical report also includes a mineral Potential of 570 million to 930 million ounces of silver equivalent. The Company mines mineralized stope material from its mines and treats them at its wholly owned milling facilities.
ECU has a 320 tonne per day flotation mill (the Sulphide Mill) in the Village of Velardeña, where it treats its mineralized sulphide material to generate a lead/silver concentrate, a zinc concentrate, and a pyrite/gold concentrate. The Company also owns a 500 tonne per day cyanide leach mill (the Oxide Mill) adjacent to the Chicago Property, where it treats mineralized oxide material to generate silver/gold doré bars.
Major discoveries of gold and silver at the Company's Velardeña Properties have rewarded the team of mining professionals who have worked for more than a decade, determinedly developing and exploring the region.
ECU Silver has translated its exploration success into a significant mineral inventory consisting of over 46 mineral rich veins with a measured and indicated mineral resource of 40 million silver equivalent ounces and an inferred resource of 391 million silver equivalent ounces. Many of the veins and vein packages at the Velardeña Properties have demonstrated reliable evidence of continuity, laterally and at depth. This additional potential is represented by a Mineral Potential that has been quantified at an additional 570 to 930 million silver equivalent ounces.
ECU Silver also owns two operating mills with a combined capacity of 820 tonnes per day (tpd). A 320 tpd flotation mill (the Sulphide Mill) treats mineralized sulphide material to generate a lead/silver concentrate, a zinc concentrate, and a pyrite/gold concentrate. A 500 tpd cyanide leach mill (the Oxide Mill) treats mineralized oxide material to generate silver/gold doré bars.
ECU Silver is well on track to becoming a pre-eminent silver and gold producer through the development of existing and additional potential resources in the Velardeña district.
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|OTC Market Tier ||Pink Sheets Current |
Share Structure December 31, 2010
Recent Share Price: $1.34
Market Capitalization: $413 Million
Shares Outstanding: 308,236,733
Warrants and Options: 65,675,426
Fully diluted: 373,912,159
52 Week high/low: $1.45/$0.54
Very Big Fails to Deliver !!!!!!!!!!!!!!!!!!!
Great News Link!!!!! http://www.otcmarkets.com/stock/ECUXF/news
Link to Ni 43-101 http://www.ecu.ca/images/pdf/MiconTechnicalReportECUResourceEstimateV2.pdf