Dia Bras Exploration Inc.

Dia Bras Exploration Inc.

February 24, 2011 12:03 ET

Dia Bras Continues to Intercept Wide Zones of Silver-Lead-Zinc-Copper Mineralization at its Melchor Ocampo Property in Zacatecas State, Mexico

TORONTO, ONTARIO--(Marketwire - Feb. 24, 2011) - Dia Bras Exploration Inc. (TSX VENTURE:DIB) ("Dia Bras") (the "Company") is pleased to report that it has received assay results from diamond drill hole #6 of its current drilling program at the Las Coloradas project in the Melchor Ocampo mineral district, Zacatecas State. Drill hole #6 intercepted 117.4 m of skarnified limestone, which averages 59.9 g/t (1.9 ounces) silver, 1.0% lead, 1.3% zinc and 0.01% copper.

"This latest drill hole is the third one out of six drill holes to intersect potential bulk-tonnage mineralization with intercepts of over 100 metres and supports our concept that the Las Coloradas target is a large mineralized system," stated Daniel Tellechea, President & CEO. "All of the holes we have completed have cut wide intervals of mineralization related to the carbonate replacement type. We expect that further drilling will outline a significant tonnage of potentially-economic mineralization."

The Las Coloradas project is located in the Melchor Ocampo mineral district that is known for the occurrence of large carbonate replacement deposits of precious and base metals. Las Coloradas is approximately 20 kilometres due north of Goldcorp´s Peñasquito mine, as well as near important mines/projects in Zacatecas such as Aranzazu (Aura Minerals), Tayahua (Frisco) and Camino Rojo (Goldcorp). Carbonate Replacement Deposits (CRDs) are Ag-Pb-Zn-(Cu-Au) deposits that have contributed approximately 40% of Mexico's historic silver production, making them second only to epithermal veins. Currently, they provide most of the zinc and lead production that put Mexico in 5th and 6th place in worldwide production. CRDs form large deposits, ranging from 25 to 100 million tonnes of ore.

Holes 3 & 4 were located 200 m and 175 m (respectively) west of holes 1 & 2 and encountered lower grade mineralization http://www.diabras.com/files/media/a0c30_Las%20Coloradas%20geo%20cross%20sec%20conceptual.JPG (see drill hole location map). Holes 5 & 6 are located 50 m west of holes 1 & 2 http://www.diabras.com/files/media/2ce60_Cross%20Section%20Geologic%20&%20Holes-2.pdf (see cross section here). Drill hole DLC11B009 is in progress at the hole 7 collar site located 50 m west of holes 5 & 6. Hole 8 was drilled at the site of holes 1 & 2 and at an angle to test the zone between the first two holes, because the Company's geologists believe that hole #2 undercut the mineralized zone intercepted in hole #1 (please see Dia Bras news release of October 26, 2010). Assay results are pending for holes 7 & 8. More drill holes are required to determine the true widths of the intercepts, but the Company's geologists estimate the true widths to be 80-90% of the core lengths.

Table 1 below shows the assay results from hole 6 at Las Coloradas.

Table 1: Assay Results from Dia Bras drill hole DLC11B006

Hole # From, m   To, m   Core Length, m   Silver g/t   Lead %   Zinc %   Copper %
DLC011B006 230.0   347.4   117.4   59.9   1.0   1.3   0.01
Incl. 239.9   347.4   107.5   64.6   1.1   1.4   0.01
Incl. 253.05   328.35   75.3   88.1   1.5   1.9   0.01
Incl. 263.2   266.0   2.8   380.3   12.4   6.9   0.14
Incl. 305.8   320.1   14.3   131.8   2.4   5.0   0.19

The high-grade intercepts in holes 5 & 6 indicate that high-grade chimney-type mineralization could occur below hole 6 and further along strike, which is a primary target for the Company.

The following tables present previously published results for drill holes 1 & 5:

Table 2: Assay Results from Dia Bras drill hole DLC10B001 (see press release of October 26, 2010)

From, m To, m Core
Silver g/t Lead % Zinc % Copper %
165.0 284.6 119.6 65.6 1.16 1.43 0.11
Incl. 165.0 218.2 53.2 67.7 1.42 1.30 0.11
Incl. 242.0 284.6 42.6 93.3 1.31 2.18 0.16

Table 3: Assay Results from Dia Bras drill hole DLC10B005 (see press release of February 1, 2011)

Hole # From, m To, m Core
Silver g/t Lead % Zinc % Copper %
DLC10B005 152.4 282.0 129.6 72.6 1.38 1.62 0.10
Incl. 156.3 276.85 120.55 76.2 1.47 1.72 0.11
Incl. 158.15 172.15 14.0 99.1 2.30 2.89 0.20
and 197.5 202.3 4.8 182.2 3.62 5.17 0.36

All holes were collared in sandstone and shale east of a wide (approx. 100 m) near-vertical, E-W trending fault zone and crossed into the Taraises Formation (thin-bedded limestone and mudstone) and then entered the La Caja Formation (siltstone and thick-bedded limestone) that was converted to skarn by intrusions of granodiorite. The lower portion of the Taraises Formation is also skarnified. Underlying the skarnified La Caja Formation is the Zuloaga Formation (massive limestone), which is generally un-mineralized. 

Method of analysis

Samples were prepared at the ALS Chemex lab facility in Chihuahua, Mexico, and analyzed by ICP and AA methods at their facilities in Vancouver, Canada. Diamond drill samples sent for analysis consisted of half NQ-size and BQ-size diamond core split on site, prepared by the ALS Chemex sample preparation laboratory in Chihuahua, Mexico, and assayed for Au by 50 g fire assay with AA finish, and for Ag by AA on 50 g split sample at the ALS Chemex North Vancouver Laboratory. Assays for Pb, Zn and Cu are done by Induction Coupled Plasma (ICP) at ALS Chemex.

Quality control

The quality assurance-quality control (QA-QC) of Dia Bras has been described in detail in both RPA's NI 43-101 reports of December, 2006, at Cusi and October, 2005, for Bolivar.

The technical content of this news release has been approved by Thomas L. Robyn, Ph.D., CPG, RPG, a Director of Dia Bras and a Qualified Person as defined in NI 43-101.

About Dia Bras

Dia Bras is a Canadian exploration mining company focused on precious and base metals in Chihuahua State and other areas of northern Mexico. The Company is pursuing the development and exploration of its most advanced assets – the Bolivar Property (copper‐zinc‐silver) and the Cusi Property (silver). Dia Bras is also exploring several precious metal targets such as La Cascada project at the Bolivar Property, the Las Coloradas project at Melchor Ocampo (Zacatecas State), the Bacerac Property (Sonora State) and the La Verde project at the Batopilas Property (Chihuahua State).

The Company's shares trade on the TSX Venture Exchange under the symbol "DIB". 

Forward-looking Statements

Except for statements of historical fact, all statements in this news release without limitation regarding new projects, acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Dia Bras Exploration Inc.
    Daniel Tellechea
    President & CEO
    Dia Bras Exploration Inc.
    Karl J. Boltz
    Vice President, Corporate Development