Dia Bras Exploration Inc.
TSX VENTURE : DIB

Dia Bras Exploration Inc.

February 15, 2012 10:31 ET

Dia Bras Reports Major Success With Expansion Drilling at Yauricocha Mine, Peru

Ore Zones Extended Down Over 300 Meters Below Existing Workings

TORONTO, ONTARIO--(Marketwire - Feb. 15, 2012) - Dia Bras Exploration Inc. (TSX VENTURE:DIB) ("Dia Bras") (the "Company") is pleased to announce that drilling conducted at the Central Mine Area of its Yauricocha mine since September, 2011, has intersected at depth broad zones of high-grade mineralization, both of the polymetallic type and copper-silver type ore bodies.

"These results are very significant because they demonstrate that the ore bodies that have been mined for many years continue at depth and that new ore bodies keep being discovered as we drill laterally and at depth", said Daniel Tellechea, President & CEO of Dia Bras. "The Yauricocha ore deposits are hosted within a strongly mineralized system that we are only beginning to explore. Moreover, the recent results of mining of the Contacto Occidental and lead-oxide ore bodies will support an increase of our silver production significantly which we envision should be Yauricocha's main commodity in the near future."

Drilling demonstrates that the "Catas" copper-silver ore body continues to depth at least 300 m below the current workings. The fifth hole in the Catas body encountered wide, high-grade mineralization and subsequent holes in the Catas body confirmed the wide, high-grade extensions, which the mine's geological staff expects to continue to depth and that more discoveries will be made laterally.

Our drilling campaign has also discovered a previously unknown polymetallic deposit below the Cuye ore-body, which is only 300 m NW of the Catas deposit. Because of the abundance of mineralized zones in the Central Mine Area, several holes cut multiple high-grade zones, such as hole 11-09.

Dia Bras has approved construction of a new, 1,000-m-deep shaft to access these deeper and newly-discovered deposits. Drilling by MDC SAC for geotechnical data is in progress and shaft construction is scheduled to commence in the fourth quarter of this year.

The drill holes are shown on the attached map and section (http://file.marketwire.com/release/d1.pdf
; http://file.marketwire.com/release/d2.pdf). The drill results are shown below:

Catas Extension

Hole
#*
To-From
(m)
Core
Length
(m)
Est.
True
Width
(m)
g/t
Ag
%
Pb
%
Cu
%
Zn
Au
g/t
11-01 368.7-412.0 25.3 14.7 9.1 0.11 0.51 0.15 0.33
11-02 381.1-401.6 20.5 11.6 13.7 0.08 0.29 0.35 0.48
11-03 313.6-338.6 25.0 14.0 15.9 0.04 0.69 2.55 0.47
11-04 315.3-335.6 20.3 11.9 9.3 0.03 0.44 0.03 0.45
11-05 326.4-370.3 43.9 18.5 36.7 0.10 0.67 0.39 0.50
incl. 332.0-336.0 4.0 1.7 74.9 0.32 0.17 2.98 0.37
incl. 353.8-357.0 3.2 2.1 23.6 0.08 1.58 0.07 0.77
incl. 362.0-368.6 6.6 3.8 22.7 0.02 2.08 0.03 1.01
11-06 431.45-465.0 33.55 21.0 15.2 0.02 1.42 0.03 0.61
incl. 449.0-457.0 8.0 7.8 21.1 0.02 2.21 0.02 0.99
11-07 286.3-336.0 49.7 20.5 35.8 0.13 0.36 8.51 0.49
incl. 302.7-322.9 20.2 8.8 42.3 0.17 0.57 12.05 0.87
11-09 370.9-377.5 6.6 4.8 20.8 0.20 0.31 5.55 0.12
12-10 360.1-374.0 13.9 10.5 30.8 0.03 2.34 0.10 0.59
incl. 361.0-368.0 7.0 5.5 45.1 0.02 3.69 0.09 0.63
12-11 342.0-350.7 8.7 6.1 22.1 0.07 2.47 0.43 1.5
incl. 343.0-347.0 4.0 2.8 29.9 0.01 3.80 0.71 2.3

* All holes have the prefix CA-14-

"New" Polymetallic Deposits

Hole
#*
To-From
(m)
Core
Length
(m)
Est.
True
Width
(m)
g/t
Ag
%
Pb
%
Cu
%
Zn
Au
g/t
11-08 100.0-106.6 6.6 5.2 78.4 2.01 0.08 8.83 0.99
11-09 164.0-171.6 7.6 5.8 62.8 0.76 0.13 8.38 0.19
12-11 320.0-329.7 9.7 7.4 67.5 0.33 0.53 6.33 0.66

* All holes have the prefix CA-14-

Intercepts in Known Bodies

Drill hole 11-03 penetrated a highly-mineralized zone in the "Contacto Occidental" deposit that will be mined when workings access the deposit, which is planned for late 2014:

Hole
#*
To-From
(m)
Core
Length
(m)
Est.
True
Width
(m)
g/t
Ag
%
Pb
%
Cu
%
Zn
Au
g/t
11-03 127.4-140.8 13.4 7.2 161.7 9.16 0.25 7.93 0.13

* All holes have the prefix CA-14-

Drill holes 11-05, 11-07 and 11-09 cut significant zones in the lead-oxide deposit:

Hole
#*
To-From
(m)
Core
Length
(m)
Est.
True
Width
(m)
g/t
Ag
%
Pb
%
Cu
%
Zn
Au
g/t
11-05 128.3-133.2 4.9 3.1 513.8 8.47 0.29 19.1 0.72
11-07 46.2-51.8 5.6 4.2 282.4 5.63 0.30 14.87 0.60
and 55.8-58.6 2.8 1.9 14.0 0.29 0.02 4.71 0.06
11-09 42.1-47.0 4.9 2.8 330.0 9.16 0.14 2.24 0.28

* All holes have the prefix CA-14-

Drilling in the Central Mine Area will continue throughout 2012 and 2013 and will be focused on increasing the amount of reserves from resources plus discovering additional resources. Drill hole 12-12 is in progress and is targeted to intercept the polymetallic target zone 50 m below hole 11-04.

Quality Assurance

The quality assurance-quality control (QA-QC) program employed by Dia Bras has been described in detail in the NI 43-101 report on Yauricocha of May 25, 2011, prepared by Gustavson Associates of Denver, which is available for review on SEDAR.

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

About Dia Bras

Dia Bras Exploration is a Canadian exploration & mining company focused on precious and base metals in Chihuahua State, other areas of northern Mexico, and most recently at its Yauricocha silver-lead-zinc-copper-gold mine in Peru. The Company is accelerating exploration at the Yauricocha property as well as pursuing the development and exploration of its most advanced Mexican assets - the Bolivar Property (copper‐zinc‐silver) and the Cusi Property (silver) and is exploring in Mexico several precious metal targets such as La Sidra gold project at the Bolivar Property, the Las Coloradas silver project at Melchor Ocampo (Zacatecas State), the Bacerac silver project (Sonora State), and the La Verde gold project at the Batopilas Property (Chihuahua State). Dia Bras is also exploring base metal projects in Mexico such as the Corralitos intrusion-hosted molybdenum deposit (Chihuahua State).

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

  • Daniel Tellechea
    President & CEO
    Dia Bras Exploration Inc.
    1 (866) 493-9646

    Matt Morrish
    Director, Investor Relations
    Dia Bras Exploration Inc.
    1 (866) 493-9646
    www.diabras.com