ECU Silver Mining Inc.

ECU Silver Mining Inc.
Golden Tag Resources Ltd.

Golden Tag Resources Ltd.

November 04, 2008 09:55 ET

ECU Silver and Golden Tag Cut Additional Massive Sulphides at San Diego

Highlights - Hole SD-07-21A intersects new zone of massive sulphides (MS) and represents richest and widest MS intercept encountered at San Diego. -- 437 grams per tonne (g/t) silver (Ag), 10.3% lead (Pb) and 11.8% Zinc (Zn) over core length of 5.9 metres (19 feet). -- Estimated true width of 5 metres with silver equivalent grade of 1,080 g/t Ag.

TORONTO, ONTARIO--(Marketwire - Nov. 4, 2008) - ECU Silver Mining Inc. (TSX:ECU) ("ECU") and Golden Tag Resources Ltd. (TSX VENTURE:GOG) ("Golden Tag") are pleased to report that they have intersected additional Massive Sulphide mineralization (the "MS Zone") on the joint venture San Diego Property. The drill-hole SD-07-21A intercept is particularly significant as it represents the richest and widest intercept that has been drilled on the San Diego Property to date. The MS Zone yielded 437 grams per tonne (g/t) silver (Ag), 10.3% lead (Pb) and 11.8% zinc (Zn) over a core length of 5.9 metres (19 feet), at a depth of 600 metres (1,970 feet) below surface (see Table 1 below).

The recent assay results, along with earlier reports (see press releases dated October 17, 2008 and June 23, 2008) continue to demonstrate an emerging pattern of massive to semi-massive sulphide mineralization with significant grades in silver, lead and zinc over attractive widths below the known surface vein occurrences.

Drill-hole SD-07-21A intersected the new MS Zone in the south-eastern portion of the property where no exploration drilling has been previously completed, until now. The MS Zone is hosted in massive limestones and is believed to have formed from the replacement of the carbonaceous host-rock by sulphide-bearing solutions. Like skarn-replacement, carbonate-replacement type mineralization, can form wide lenses of semi-massive to massive sulphide mineralization that represent a major source of Ag-Pb-Zn mineralization in Mexico. The new MS Zone could coincide with the eastern extension of the San Jose Vein, a NW trending structure located south of the more prominent Montanez Vein. The Zone is open in all directions and additional drilling is planned to further outline the extent of mineralization in this area.

Diamond drilling on the property is ongoing with hole SD-08-35, a 70 metre step-out hole to the west from recently completed hole SD-08-34. The main objective of this hole was to intersect the junction point of the E-W trending Cantarranas Vein with the northwest trending Ag Stringer Zone and the Montanez Vein defining a V-shape structure. At the projected intersection point of these three structures at depth, hole SD-08-35 cut a wide section of polymetallic stringers and veins stretching over 100 metres from approximately 650 to 750 metres down hole. This mineralized section straddles the faulted contact between the main diorite intrusive coring the centre of property and the adjacent marble. It now appears that this NW trending contact is a major structure transecting the whole property that would connect the Montanez Zone defined in the Eastern sector of the property with the La Cruz Zone outlined in the Western sector. Assays are pending.

Table 1 - Assay results from drill-hole SD-07-21A
Sample From To Length Silver Lead Zinc Silver Eq.
(m) (m) (m) (g/t) (%) (%) (g/t)

11539 686.30 686.75 0.45 444 9.20 10.80 1,026
11540 686.75 687.45 0.70 446 10.75 14.80 1,194
11541 687.45 688.10 0.65 430 9.58 11.20 1,034
11542 688.10 688.65 0.55 312 7.68 8.39 778
11543 688.65 689.30 0.65 597 15.40 18.65 1,589
11544 689.30 689.90 0.60 549 11.85 18.30 1,435
11545 689.90 690.50 0.60 676 16.25 13.55 1,531
11546 690.50 691.05 0.55 330 8.29 7.11 772
11547 691.05 691.55 0.50 117 2.91 2.81 282
11548 691.55 692.15 0.60 381 8.97 9.09 903
Average 686.30 692.15 5.85 437 10.32 11.81 1,080

Silver equivalents were calculated using the same commodity prices and metal recovery factors used in the San Diego 43-101 Resource Estimate Report. These were 26.60 g/t Ag per 1% Pb and 31.21 g/t Ag per 1% Zn.

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 width for the MS vein is approximately 85% of the core length. All reported analyses were performed by ALS Chemex accredited assay laboratories of Guadalajara and Vancouver. Ms. Kateri Marchand, 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 Velardena District Properties in Durango, Mexico.

Golden Tag Resources Ltd. is a junior exploration company actively exploring for high grade gold and silver deposits at the San Diego silver-lead-zinc project in Durango State, Mexico; the Aquilon gold project in James Bay, Quebec; and the McCuaig gold project in Red Lake, Ontario.

Statements in the release that are "forward-looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. We undertake no duty to update any forward-looking statement to conform the statements to actual results or changes in our expectations.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • ECU Silver Mining Inc.
    Stephen Altmann
    (416) 366-2428
    Golden Tag Resources Ltd.
    Marc A. Carrier
    (514) 426-8542
    (514) 426-8543 (FAX)
    CHF Investor Relations
    Chris Haldane
    Account Manager
    (416) 868-1079 ext. 237