ECU Silver Mining Inc.

ECU Silver Mining Inc.

March 17, 2008 09:45 ET

ECU Silver has New Discovery Near Terneras Vein

Highlights - New vein, 20 metres north of the eastern extension of Terneras, yields average of 29 g/t gold and 808 g/t silver over width of 0.48 metres (1.57 feet). - Discovery of new type of mineralization, mineralized marble, on Velardena Property near Terneras Vein;

TORONTO, ONTARIO--(Marketwire - March 17, 2008) - ECU Silver Mining (TSX:ECU) ("ECU Silver" or the "Company") is pleased to announce the discovery of a new vein yielding an average of 29 g/t Au, 808 g/t Ag, 10% Pb and 0.6% Zn over a width of 0.48 metres (1.57 feet). The Company has also encountered a new zone with disseminated type mineralization. Both of these new discoveries are located approximately 20 to 30 metres north of the eastern extension of the east-west lying Terneras Vein.

The Company is continuing to realize exploration success as it drives the cross-cut which was previously reported in its most recent press release dated March 6, 2008. This cross-cut is being driven towards the north and is east of the Tres Aguilas Fault which in turn is located in the eastern part of the main Velardena Property. The cross-cut is aimed at reaching previous workings in the new La Chona area, located just north of the east-west lying Terneras Vein. In driving this cross-cut to the north, the Company encountered a significant new vein, located 20 metres north of the eastern extension of the Terneras Vein ("Terneras East") and situated just before entering into the La Chona area. The cross-cut also encountered marble as the host rock with disseminated patches of mineralization within it.

The cross-cut is only 80 metres below surface and not 200 metres which was reported in the previous related press release dated March 6, 2008. The 200 metre distance actually refers to the distance between surface and the lower level 6 of the Terneras Vein.

Encountering a new significant vein 20 metres north of Terneras East is important as, in conjunction with other veins reported in the area, Terneras East is proving to be a system of veins where eventually several veins may be included in a future updated mineral resource estimate. This new vein is particularly interesting both for its width and for its high precious metal grades.

Table 1: New Vein X-Cut Results
Sample # Width (m) Au (g/t) Ag (g/t) Pb (%) Zn (%)
48640 0.50 14.50 1,143 21.2 0.8
48657 0.40 49.10 267 10.1 1.2
48670 0.54 27.70 898 0.3 0.0
Average 0.48 29.05 808 10.3 0.6

Over the next few weeks, a drift will be driven along strike of this new vein to confirm its continuity both in terms of widths and grades.

As for the mineralized marble, it is been cut over a total length of more than 10 metres so far with the cross-cut continuing in the same material. In order to properly evaluate the average grades, a bulk sample will need to be taken and sampled exhaustively. Since this would represent considerable work, the mineralized patches were sampled to insure they did in fact carry interesting values that would warrant a bulk sample. The impact of a successful bulk sampling campaign would indicate that this area may be host to a new area amenable to bulk mining.

The results of the sample assays within the mineralized marble are shown in Table 2 below. The results are interesting and as such justify a proper bulk sampling program.

Table 2: Sample Results from Mineralized Marble
Sample # Length (m) Au (g/t) Ag (g/t) Pb (%) Zn (%)
48674 0.20 9.30 529 2.1 22.1
48675 0.24 5.90 749 0.3 0.2
48676 0.23 7.30 293 26.5 1.0
Average 0.22 7.38 527 9.8 7.0

Readers are cautioned that until a prefeasibility study is completed, there are no assurances these latest mineralized zones will be economically viable.

All widths or lengths are true widths or lengths. Samples were assayed at the ERSA laboratory in Torreon, Coahuila, Mexico which is currently in the process of being certified. Mr. Michel Roy, 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. The area includes five historical mines - Santa Juana, Terneras, San Mateo, San Juanes, and the San Diego mine. ECU is defining the "Mineralized Corridor" at Santa Juana and also further defining several higher grade narrow veins within the area. ECU's mission is to become a pre-eminent silver producer through the development of existing, and additional potential resources at Velardena.

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.

Contact Information

  • ECU Silver Mining Inc.
    Stephen Altmann
    (416) 644-8640
    (416) 644-8801 (FAX)