ECU Silver Mining Inc.
TSX : ECU

ECU Silver Mining Inc.

August 23, 2011 10:40 ET

ECU Silver Receives Assays for the Deep Drilling in Santa Juana Mine

TORONTO, ONTARIO--(Marketwire - Aug. 23, 2011) - ECU Silver Mining Inc. (TSX:ECU) is pleased to announce that it has received the assays for the announced intercept in hole SJ-18-21B. The calcite-rich section averaged 2.09 g/t gold, 122.4 g/t silver, 0.35% lead, 0.63% copper and 0.35% zinc over a core length of 16.55 meters (54.3 feet) corresponding to a 6.02 meters (19.8 feet) true width. This was followed by a massive sulfides section grading 0.17 g/t gold, 51.1 g/t silver, 0.16% lead, 0.55% copper and 6.78% zinc over a core length of 2.25 meters (7.4 feet) corresponding to a 0.82 meters (2.7 feet) true width. The following table contains all the assays for the mineralized zone which extended from 1016.15 to 1035.45 meters in the hole.

TABLE OF ASSAYS FOR A4 VEIN SJ-18-21B
Sample # From To Core Length m True Width m Au g/t Ag g/t Pb % Cu % Zn %
82274 1016,65 1016,80 0,15 0,05 8,85 284 0,05 0,04 0,10
82275 1016,80 1017,20 0,40 0,15 1,80 90 0,13 0,94 0,08
82276 1017,20 1018,20 1,00 0,36 3,90 131 0,03 0,02 0,02
84216 1018,20 1018,60 0,40 0,15 0,35 19 0,01 0,01 0,01
82277 1018,60 1018,95 0,35 0,13 3,65 122 0,03 0,09 0,02
84217 1018,95 1020,10 1,15 0,42 0,10 4 0,01 0,02 0,01
82278 1020,10 1020,80 0,70 0,25 0,85 43 0,09 0,06 0,07
84218 1020,80 1021,75 0,95 0,35 0.30 8 0,03 0,01 0,08
84219 1021,75 1022,45 0,70 0,25 0.70 49 0,13 0,03 0,16
82279 1022,45 1023,15 0,70 0,25 5,07 197 0,49 0,36 0,05
82281 1023,15 1023,45 0,30 0,11 1,95 90 0,26 0,10 0,16
82282 1023,45 1023,95 0,50 0,18 2,27 46 0,24 0,22 0,10
82283 1023,95 1024,85 0,90 0,33 2,60 325 1,27 1,05 0,11
82284 1024,85 1025,30 0,45 0,16 4,60 108 0,28 0,11 0,29
82285 1025,30 1025,90 0,60 0,22 1,33 209 0,65 0,85 0,07
82286 1025,90 1026,55 0,65 0,24 0,20 37 0,27 0,08 0,10
82287 1026,55 1026,85 0,30 0,11 1,87 182 0,76 0,61 0,11
82288 1026,85 1027,20 0,35 0,13 1,53 154 0,67 0,35 0,14
82289 1027,20 1027,55 0,35 0,13 1,10 7 0,12 0,13 0,15
84220 1027,55 1028,90 1,35 0,49 1.15 125 0,53 0,13 0,97
82290 1028,90 1029,40 0,50 0,18 0,20 21 0,28 0,06 0,18
82291 1029,40 1030,25 0,85 0,31 3,93 210 0,71 2,06 1,97
82292 1030,25 1031,15 0,90 0,33 4,07 207 0,41 1,98 1,65
82293 1031,15 1032,15 1,00 0,36 6,07 123 0,32 2,06 0,12
82294 1032,15 1033,20 1,05 0,38 1,20 222 0,46 1,77 0,19
25 samples 1016.65 1033.20 16.55 6.02 2.09 122.4 0.35 0.63 0.35
82295 1033,20 1033,65 0,45 0,16 0,20 139 0,56 1,11 20,26
84221 1033,65 1034,30 0,65 0,24 0.20 14 0,03 0,12 0,65
82296 1034,30 1035,25 0,95 0,35 0,25 39 0,09 0,46 0,70
82297 1035,25 1035,45 0,20 0,07 0,30 31 0,08 1,12 25,20
4 samples 1033.20 1035.45 2.25 0.82 0.17 51.1 0.16 0.55 6.78

These assays are consistent with those of the A4 vein found and mined in the lower levels of the active portions of the Santa Juana mine, 1,200 meters (3,937 feet) above these intercepts but over a wider true width of 6 meters compared to the 0.5 to 2.0 meters normally encountered in the mine workings. The zone is situated at the contact between a green garnet skarn unit and a quartzo-monzonitic intrusive, both of which are mineralized with small quantities of chalcopyrite.

As the hole continued, it cut more intrusive and green skarn and a second less extensive mineralized zone of a nature similar to the first one. It was sampled and assays are pending.

From a geological point of view, the two most important aspects of the geological sequence found is the nature of the intrusive rock, a quartzo-monzonite instead of the diorite found in the active mine, and disseminations of chalcopyrite instead of sphalerite in the green garnet skarn. In the geological model, developed by the geologists of various companies who worked in the area which is a variation of the general Sierra Madre model, the mineralization is associated with acid stocks and dykes that intruded the sedimentary limestones. These intrusive are aligned in a NE-SW trend for 15 kilometers stretching from the Santa Maria mine to the San Diego property. At both extremities of the trend, the San Diego property and the Santa Maria mine, significant Zn-Pb-Ag mineralization was mined, over average widths of 3.5 meters at the Santa Maria mine, at the contact between aslaskite/quartzo-monzonite dykes and skarn or limestone. In the NE section of the center, the mineralization at the Reina del Cobre mine has less zinc and lead but more silver and copper, again associated with the contact between acid intrusive and the host rocks, with average widths of 4 meters. In the SW section of the center, the mineralization in the upper sections Santa Juana mine is predominantly thin epithermal veins cutting through all the local host rocks, limestone, skarn and dioritic intrusive. The information from this new hole, SJ-18-21B, seems to indicate that the mineralization is evolving to a type similar to that found at Reyna del Cobre with thicker veins, current cuts of 4 and 6 meters of true widths, quartzo-monzonitic or granitic intrusive and pervasive chalcopyrite (copper sulfide) disseminated in the veins and the skarn. The main difference is that the mineralization at Santa Juana includes gold.

On June 24th, the Company announced that it had entered into an agreement to merge with Golden Minerals Company ("Golden Minerals") to create an exciting new junior precious metals mining company. The details of the proposed merger have been documented in detail and have been sent out to the respective shareholders of each company. Securityholder votes will be registered at a special meeting of shareholders for both companies to occur on August 30, 2011.

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 lengths are core lengths and 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.

Cautionary Statements

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

    ECU Silver Mining Inc.
    Stephen Altmann
    President
    Toronto, Canada
    (416) 366-2428

    ECU Silver Mining Inc.
    Mark Butler
    Investor Relations
    Toronto, Canada
    (905) 602-4248