ECU Silver Mining Inc.
TSX : ECU

ECU Silver Mining Inc.

September 16, 2010 10:00 ET

ECU Silver Opens New Mining Unit Along Major Vein

TORONTO, ONTARIO--(Marketwire - Sept. 16, 2010) - ECU Silver Mining Inc. (TSX:ECU) is pleased to report on results from a new mining unit on the western extension of the Terneras vein located within the Velardeña Property. This section of the Terneras Vein, which is host to reported "inferred" resources, has been opened and successfully developed. The average gold grades, in the section opened to date, are approximately 500% higher than the grades for the corresponding resource block used in the calculation of the Company's National Instrument 43-101 mineral resource estimate.

The current underground development completed by ECU has opened the western extension of the Terneras vein over a length, to date, of 60 metres (197 feet) with 18 cuts yielding average grades of 3.55 grams per tonne (g/t) gold (Au), 84 g/t silver (Ag), 0.82% lead (Pb) and 1.52% zinc (Zn) over a width of 1.15 metres (3.77 feet). The grades in the cuts increased westerly along the drift with the best result yielding 27.19 g/t Au, 66 g/t Ag, 6.99% Pb and 8.10% Zn over a width of 0.80 metres (2.62 feet).

In the last couple of months, ECU has opened workings in this area which had been interpreted as the western lateral extension of the Terneras vein. That interpretation was originally based on surface sampling, geological interpretation and a cut in drill hole BV-07-04 (press release dated August 29, 2007) that returned assays of 2.30 g/t Au, 3,130 g/t Ag, 15.4% Pb and 1.16% Zn over 0.40 metres (1.31 feet). The interpretation suggested that the Terneras vein had been displaced 150 metres (492 feet) to the south and could be followed laterally for another 700 metres (2,297 feet) to the west.

Michel Roy, Chairman and CEO of ECU stated, "The Terneras vein is one of the largest in the area and our work suggests this section of the vein continues for almost three quarters of a kilometre, which will make this area a very important mining unit for us. As witnessed in the Terneras vein, we are seeing a trend where we have opened several areas which contain mineral resources that are classified as inferred yet we have been successfully treating this material in our mills."

The Terneras mine was the most important mine of the Velardeña district over 100 years ago. From its inception in the late 1800's to its closing in 1922, it is estimated that over 1,700,000 tonnes were extracted and processed, from this vein alone, at the local smelter owned by Asarco Mining. The mine closed at the beginning of the Mexican revolution for security reasons.

In those days, the Terneras vein was opened laterally over a length of 1,200 metres (3,937 feet) and a height of 630 metres (2,067 feet). The lateral limits of the workings corresponded to regional faults that displaced the east and west extensions which were not found in those days. Work done by ECU since 1997, has found both lateral extensions as well as demonstrated the continuity at depth.

Stephen Altmann, President of ECU also stated, "We are pleased to see that our Velardeña Property continues to show examples of strong vein continuity, particularly within previously identified inferred mineral resources. Furthermore, in the case of Terneras, adding a new mining unit, that is independent from the other three mining units currently in operation, adds to the flexibility of our general mine plan and brings us closer to our target of mining sufficient mineralized material to fill both mills to nominal capacity before year end."

Cautionary Statements

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

All widths are true widths. Samples were assayed at the ERSA laboratory in Torreón, 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.

About ECU Silver

ECU Silver Mining Inc. is focused on the exploration, development and mining of gold, silver and base metals at its Velardeña District Properties in Durango, Mexico. The Company holds a NI 43-101 compliant mineral resource of 40 million silver equivalent ounces in the measured and indicated category and 391 million silver equivalent ounces in the inferred category. The Company also owns two mills with a combined capacity of 820 tonnes per day. ECU's mission is to become a pre-eminent silver and gold producer through the development of its existing and potential mineral resources at Velardeña.

Cautionary Statements

Readers are cautioned that there are no assurances that all or any part of ECU Silver's mineral resource will be economically viable. Until a prefeasibility study is completed, there are no assurances the release of an updated mineral resource will be economically viable.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, the proposed construction of a mill, business and financing plans, business trends and future operating revenues. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any minerals produced, the Company's inability to obtain any necessary permits, consents or authorizations required for their activities, to produce minerals from their properties successfully or profitably, to continue their projected growth, to raise the necessary capital or to be fully able to implement their business strategies. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this Press Release.

Contact Information

  • ECU Silver Mining Inc.
    Michel Roy, Chairman and CEO
    Torreon, Mexico
    011 52 871 747 5750
    or
    ECU Silver Mining Inc.
    Stephen Altmann, President
    Toronto, Canada
    (416) 366-2428
    or
    ECU Silver Mining Inc.
    Mark Butler, Investor Relations
    Toronto, Canada
    (905) 602-4248