ECU Silver Mining Inc.

ECU Silver Mining Inc.

May 08, 2008 11:19 ET

ECU Silver Cuts New Vein With 3,000 g/t Silver at Chicago

TORONTO, ONTARIO--(Marketwire - May 8, 2008) - ECU Silver Mining (TSX:ECU) ("ECU Silver" or "the Company") is pleased to announce that it has discovered a new vein grading 0.52 g/t gold and 3,002 g/t silver over 0.52 metres in a new area of the Chicago Property. To-date, five mineralized veins have been identified on the Chicago Property.

The Chicago Property lies 500 metres south, essentially adjacent, to the main Velardena Property. On surface, several veins are well identified, varying in known length from 250 metres to 1,300 metres and from 0.20 to 6.0 metres in width. The best known vein, the Los Muertos - Chicago Vein (the "Chicago Vein"), has historically been followed for 1,300 metres horizontally and has underground development of 390 metres horizontally and 240 metres vertically. The Chicago Vein plus three other mineralized from the Chicago Property are included in the Company's current N.I. 43-101 resource estimate.

Significant results were obtained from a recent drill-hole located east of the old workings where the Company cut a new mineralized vein, 150 meters north of the old workings on the Chicago Vein, containing quartz and sulfides, that returned 0.52 metres of 0.52 g/t gold and 3,002 g/t silver.

This drill-hole was completed on the east end of Chicago Property to investigate whether we could verify the continuity of veins east of the old workings. This area is considered interesting as the Company did not previously have enough certainty of vein continuity in this area and as such no resources had yet been defined nor did any potential been calculated in our N.I. 43-101 resource estimate. Several more oxidized veins were cut in this area and assays are pending. However the assays from these veins will be difficult to quantify due to lixiviation, whereby oxidized vein material has been washed-out by the drilling process. To counter this impact, the Company will be drilling deeper holes to test the veins below the oxidized level.

The added significance of this new vein discovery is the potential for the Chicago Property to host a system of veins in this previously unexplored region. We believe that the results justify additional drilling in the area with a goal to adding new resources.

The Company's exploration plan on the Chicago Property in the short term is to now focus on the west side of the old workings in order to test the extensions of the veins that are currently included in the inferred resources. The regions consisting of these extensions have been categorized as potential for additional resources.

Mr. Michel Roy, P. Geo., a "qualified person" within the meaning of NI 43-101, prepared the technical information disclosed in this news release.

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Forward-Looking Statements

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.

The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contact Information

  • CHF Investor Relations
    Chris Haldane
    Account Manager
    (416) 868-1079 ext. 237
    CHF Investor Relations
    Michael Borovec
    Account Manager
    (416) 868-1079 ext. 229