ECU Silver Continues to Develop the Terneras West Mine
March 17, 2011 11:02 AM EDT
TORONTO, ONTARIO -- (MARKET WIRE) -- 03/17/11 -- ECU Silver Mining Inc. (TSX: ECU) is pleased to announce that it has encountered new high grade mineralization in the Terneras West Mine through further development along the vein structure. The Terneras West Mine is located on the main Velardena Property.
The vein was opened for another 89 meters (294 feet) and yielded an average of 3.45 grams per tonne (g/t) gold (Au), 440 g/t silver (Ag), 4.90% lead (Pb) and 2.48% zinc (Zn) over a width of 0.37 meters (1.2 feet). The best portion was the last 15 meters (50 feet) which averaged 7.34 g/t Au, 2060 g/t Ag, 18.15% Pb and 3.67% Zn over an average width of 0.25 meters (0.8 feet), including the last cut of 7.54 g/t Au, 5541 g/t Ag, 37.3% Pb and 1.8% Zn over 0.25 meters (0.8 feet)
Furthermore, the Buenaventura Vein was transected in this new development drift and will be investigated by more development in the near future. The Buenaventura Vein is among a number of known veins located in the western portion of the main Velardena Property, which have yet to be tested and included in the Company's mineral resources.
Michel Roy, CEO and Chairman of ECU stated, "This type of grade and extension is certainly very encouraging for the continuing development of the whole western area of the Velardena Property where there exists many known veins that are still untested. Only about 50% of the Velardena Property has been explored and it currently contains about 37 million ounces of silver equivalent (AgEq oz) measured and indicated resources (93% of the Company's measured and indicated resources) and about 241 million AgEq oz inferred resources (62% of the Company's inferred resources)".
Cautionary Statements
Readers are cautioned that until a prefeasibility study is completed, there are no assurances these latest mineralized zones will be economically viable. All widths are true widths. Samples were assayed at the ERSA laboratory in Torreon, 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.
About ECU Silver
ECU Silver Mining Inc. is focused on the exploration, development and mining of gold, silver and base metals at its Velardena District Properties in Durango, Mexico. The Company holds a N.I. 43-101 compliant mineral resource of 40 million silver equivalent ounces in the measured and indicated category and 391 million silver equivalent ounces in the inferred category. The Company also owns two mills with a combined capacity of 820 tonnes per day. ECU's mission is to become a pre-eminent silver and gold producer through the development of its existing and potential mineral resources at Velardena.
Cautionary Statements
Readers are cautioned that there are no assurances that all or any part of ECU Silver's mineral resource will be economically viable. Until a prefeasibility study is completed, there are no assurances the release of an updated mineral resource will be economically viable.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, the proposed construction of a mill, business and financing plans, business trends and future operating revenues. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any minerals produced, the Company's inability to obtain any necessary permits, consents or authorizations required for their activities, to produce minerals from their properties successfully or profitably, to continue their projected growth, to raise the necessary capital or to be fully able to implement their business strategies. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this Press Release.
