ECU Silver Mining Inc.
TSX : ECU

ECU Silver Mining Inc.

December 06, 2010 10:47 ET

ECU Silver Uncovers Mantos-Type Mineralization at Chicago Mine

TORONTO, ONTARIO--(Marketwire - Dec. 6, 2010) - ECU Silver Mining Inc. (TSX:ECU) is pleased to announce that it has discovered a "mantos-type" mineralized zone (also known as a "Chimney") in the new underground development at the Chicago mine. The newly discovered zone included a cut assaying 350 grams per tonne (g/t) silver (Ag), 6.40% lead (Pb) and 12.13% Zn over a width of 3.0 meters (m) (10 feet).

Michel Roy, CEO and Chairman of ECU stated, "The mantos-type of mineralization is typically related to replacement bodies which is a very encouraging development for us, as some of the best orebodies in Mexico are of this type of mineralization. Historical mining in "mantos" style deposits have shown that these types of mineralization are generally associated with very high grades and good widths."

The new mineralization was discovered through an underground drift that was following the "Gambusinos" vein in the Chicago mine. The mantos is differentiated from the mineralized veins in that the mineralization consists of replacement bodies inserted between limestone beds. This type of mineralization, while normally limited in lateral extent, can be followed for significant distances along its plunge and is typically much wider than normal veins. The mantos deposits typically contains higher than normal grades of silver, lead and zinc. Assays to date are:

Sample # Width (m) Ag (g/t) Pb (%) Zn (%)
75792-793 2,90 395 5.18 7.64
75794 3,00 350 6.40 12.13
76953-954 2,70 104 1.06 1.26
76955-956-957 3,80 125 0.96 1.20
76958-959-960 4,30 42 1,35 3.27
76961-962 3,20 24 0.69 4.04
Average of 6 cuts 3.32 161 2.45 4.70

To date, six cuts have been assayed with an average grade of 161 g/t Ag, 2.45% Pb and 4.70% Zn over an average width of 3.3 m (11 feet). Much higher grades can commonly exist in mantos style deposits which would suggest that the newly discovered zone is near the top of the structure. Consequently it is expected that grades will improve as development goes further down plunge along the mantos.

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 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.

About ECU Silver

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 Company holds a NI 43-101 compliant mineral resource of 40 million silver equivalent (0.6 million gold equivalent) ounces in the measured and indicated category and 391 million silver equivalent (6.0 million gold 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 Velardena.

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