ECU Silver Mining Inc.
TSX : ECU

ECU Silver Mining Inc.

July 18, 2007 08:30 ET

ECU Silver Announces New Assays at its Chicago Property in Mexico

TORONTO, ONTARIO--(Marketwire - July 18, 2007) - ECU Silver Mining Inc. (TSX:ECU) -

Highlights:

ECU announces assays of 10g/t Gold, 977g/t Silver, 26% Lead, 3.6% Zinc and 0.6% Copper over 0.49 meters.

ECU Silver Mining Inc. (TSX:ECU) is pleased to report recent assay results from the first phase of the exploration drilling work conducted at the Company's Chicago Property which consisted of drilling six holes totaling 4,101 meters. The Chicago Property is located less than 500 meters south from the Company's Velardena Property boundary. On surface, several veins are well identified, varying in known length from 250 meters to 1,300 meters and in width from 0.20 to 6.0 meters. The best known vein, the Los Muertos - Chicago Vein (the "Chicago Vein"), has historically been followed for 1,300 meters horizontally including underground development for 390 meters horizontally and 240 meters vertically.

The primary purpose of the first phase of the drilling program on the Chicago Property was to confirm the continuity of the Chicago Vein at depth, below known cuts or intercepts. This press release outlines certain assay results from six drill holes labeled CH-07-01 to CH-07-06.

LOS MUERTOS - CHICAGO VEIN

The first drill hole (CH-07-01) did not reach the projection of the Chicago Vein because of technical difficulties. The results of the five other drill holes are presented in Table 1 below.



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TABLE 1 - CHICAGO VEIN INTERCEPTS
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Hole From To Sample Width Au Ag Pb Zn Cu
(m) (m) # (m) (g/t) (g/t) (%) (%) (%)
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CH-07-02 599.2 599.8 43576 0.64 3.00 482 10.20 7.10 0.16
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CH-07-03 504.4 505.1 42192 0.71 2.70 342 7.77 10.18 0.21
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CH-07-04 432.7 433.0 43562 0.30 4.00 150 1.42 0.84 0.09
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CH-07-05 340.4 340.9 43803 0.49 10.15 977 26.16 3.60 0.64
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CH-07-06 448.8 449.9 43844 1.09 2.10 270 3.71 2.61 0.15
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Average 0.65 3.81 424 9.08 5.15 0.23
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The deepest intercept was in drill hole CH-07-02 at a vertical depth of 556 meters and all intercepts were below the 300 meters level. Considering the normal variability of this type of vein, all intercepts were significant and exhibited good to excellent values in gold, silver, lead and zinc and represented cuts in the thin portions of the Chicago Vein. No "chimney" type zones were encountered which is considered normal given the limited lateral extension of these portions of the Chicago Vein, which are normally 15 to 50 meters in length with widths of 1.0 to 6.0 meters.

With this drilling, the Chicago Vein has now been confirmed at depth by drill holes or underground development, over a strike length of 850 meters of the total 1,300 meters followed on surface. It has also been confirmed that the Chicago Vein continues to a depth of 560 meters and likely goes significantly deeper as the grades encountered in the deepest cut are amongst the best assayed from that vein.

OTHER VEINS

Several other veins were cut in the various drill holes, including the San Agustin vein in hole CH-07-01. However at this stage, it was the only intercept that could be interpreted with any degree of certainty. Further drilling, surface mapping and geological modeling might allow for a better interpretation and confirm continuity for some of these intercepts. This work will be part of the second phase of exploration. The assay results from these cuts are presented in Table 2 below.



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TABLE 2 - OTHER VEINS INTERCEPTS
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Hole From To Sample Width Au Ag Pb Zn Cu
(m) (m) # (m) (g/t) (g/t) (%) (%) (%)
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CH-07-01 17.0 17.7 41850 0.69 4.20 449 0.00 0.02 0.01
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CH-07-02 171.8 172.0 42078 0.20 0.20 242 3.60 4.75 0.04
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CH-07-02 274.4 274.6 42090 0.20 3.30 191 3.93 1.61 0.21
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CH-07-02 579.7 579.9 43575 0.20 1.10 11 0.02 0.11 0.02
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CH-07-03 182.6 182.9 42171 0.31 1.40 69 0.82 0.94 0.04
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CH-07-03 491.5 491.7 42184 0.26 1.35 279 8.61 4.48 0.41
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CH-07-03 494.7 494.9 42187 0.20 1.20 110 9.45 8.58 0.24
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CH-07-04 72.2 72.8 43527 0.53 2.00 172 4.20 7.55 0.07
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CH-07-04 158.6 159.4 43534 0.82 2.00 71 2.00 0.74 0.23
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CH-07-04 221.9 222.3 43536 0.41 0.70 270 6.25 2.95 0.23
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CH-07-04 277.4 277.7 43540 0.35 0.70 62 1.01 0.69 0.02
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CH-07-04 412.3 412.9 43549 0.61 0.10 30 0.82 1.60 0.01
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CH-07-04 412.9 413.9 43550 1.00 0.10 85 0.58 0.79 0.01
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CH-07-04 446.0 446.6 43558 0.60 0.10 28 1.02 0.02 0.00
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CH-07-05 298.6 300.1 43585 1.55 1.50 413 5.87 0.98 0.06
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CH-07-06 275.9 276.3 43833 0.42 2.80 72 3.72 1.46 0.02
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Assays from these intercepts confirm the presence of several veins with metal contents that justify further work. The next step will be to properly position these veins in relation to one another and plan the in-fill drilling of the second phase of exploration in such a way as to define the continuity of these veins.

Michel Roy, chairman and CEO states "The Chicago Property is showing very encouraging results which will enhance the overall mineral resource being defined at our Velardena Property where we are continuing our drilling and development work at Santa Juana and San Mateo. We continue to advance our exploration work and expect positive results on both the Chicago and Velardena properties with our ongoing exploration program."

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. Samples were also assayed at the SGS laboratory in Durango, Durango State, which is a certified laboratory. Property specific quality control samples were inserted at regular intervals in the sample sequence and the Company routinely does check assays at other certified laboratories.

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

ECU Silver Mining Inc. is a Canadian silver and gold mining and exploration company with executive offices in Toronto, Ontario, that is involved in the evaluation, development and mining of precious metal deposits in Mexico. The Company owns the historically prolific Velardena Property which holds five historical mines and a milling operation in the state of Durango, Mexico. ECU's goal is to become one of Mexico's largest producing silver mines. ECU's common shares are listed on the TSX under the trading symbol ECU.

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 does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • ECU Silver Mining Inc.
    Stephen Altmann
    President
    (416) 644-8640
    (416) 644-8801 (FAX)
    or
    ECU Silver Mining Inc.
    Richard Buzbuzian
    Vice President
    (416) 644-8640
    (416) 644-8801 (FAX)
    Website: www.ecu.ca