Eurotin Inc.
TSX VENTURE : TIN

September 22, 2011 17:53 ET

Eurotin Announces Latest Results from Its Oropesa Drill Program-Further Confirmation of High Grade Tin Mineralization Over Significant Widths

TORONTO, ONTARIO--(Marketwire - Sept. 22, 2011) - Eurotin Inc. ("Eurotin" or the "Company") (TSX VENTURE:TIN), is pleased to provide the following drill results and update on its Oropesa tin project, located in SW Spain.

Highlights:

Drilling continues to intersect zones containing strong tin mineralization:
38.2m @ 0.61% Sn from 80.4m
9.4m @ 1.46% Sn from 82.0m
6.1m @ 2.15% Sn from 117.6m
The Company has identified a 1,300 metre long structure containing multiple zones of tin mineralization, which commences at surface and appears to extend to great depths.
The Company has so far drilled 82 holes in an estimated 500 hole program at Oropesa and has received assay results from ~4,500 metres of drilling. The Company intends releasing further assay results at regular intervals of 3-4 weeks.

The latest drilling at Oropesa continues to deliver positive results with assays confirming consistently strong tin mineralization. Typically, the true widths of the tin zones vary between 2 and 36 metres, with an approximate average of 9-11 metres. Tin grades appear to average around 0.75-0.85%.

The Company is currently drilling a 50 hole grid in an area of 200 x 250 metres to assist in its understanding of the geological controls over Oropesa's tin mineralization. This grid consists of five lines, 50 metres apart, with a 25 metre spacing along each line between drill holes (see map following the table of recent drill results). The assay results so far received from the drilling of this grid are presented below:

Hole No. Dip &
Azimuth
From
(m)
To
(m)
Length(m) Est. True Widt(m) Tin - Sn
(%)
Comment
ORPD-41* 60° @ 200° 105.0 107.0 2.0 ~1.9 0.20 % South of main mineralization
ORPD-43 60° @ 200° 90.7 94.7 4.0 ~3.8 0.25 % South of main mineralization
ORPD-44 60° @ 200° 205.6 209.6 4.0 ~3.8 0.24 % North of main mineralization
ORPD-45 60° @ 200° 109.8 111.7 1.9 ~1.8 0.39 %
128.2 133.0 4.8 ~4.6 2.03 %
160.0 167.3 7.3 ~6.9 0.26 %
219.5 223.1 5.6 ~5.3 0.23 %
ORPD-46 60° @ 200° 72.4 76.6 4.2 ~4.0 0.22 % South of main mineralization
ORPD-47 60° @ 200° 172.1 176.1 4.0 ~3.8 0.36 % North of main mineralization
ORPD-48* 60° @ 200° 80.4 118.6 38.2 ~36.3 0.61 %
Inc. 90.7 93.7 3.0 ~2.9 1.63 %
146.4 154.3 7.9 ~7.5 0.80 %
ORPD-49 60° @ 200° 80.4 94.7 14.3 ~13.6 0.71 %
95.7 97.7 2.0 ~1.9 0.43 %
99.7 111.4 11.7 ~11.1 0.79 %
113.4 118.6 5.2 ~4.9 0.58 %
146.4 154.3 7.9 ~7.5 0.80 %
172.1 176.1 4.0 ~3.8 0.36 %
ORPD-50 60° @ 200° 26.3 46.8 20.5 ~19.5 0.33 %
ORPD-54 60° @ 200° 82.0 91.4 9.4 ~8.9 1.46 %
117.6 123.7 6.1 ~5.8 2.15 %
126.5 131.4 4.9 ~4.7 0.53 %
183.7 189.9 6.2 ~5.9 0.45 %
196.8 197.6 0.8 ~0.8 0.80 %
202.5 205.5 3.0 ~2.9 1.95 %
232.6 237.6 5.0 ~4.8 0.28 %
Note 1: A cut off grade of 0.20% tin has been used.
Note 2: Figures shown in bold represent significant tin results of Width (m) x Grade (%) exceeding a value of 8.
* Denotes previously reported.

To view the Map of Current Drill Grid, please visit the following link:

http://media3.marketwire.com/docs/tin.jpg.

Summary

Peter Miller, Eurotin's President and CEO, comments: "Oropesa's drill results continue to be very solid in terms of tin grades and the abnormal widths of mineralization (for tin)."

LME 3 Month Closing Prices on September 21, 2011

Metal Tin Copper Lead Nickel Zinc
Price – US$/t $22,650 $8,220 $2,260 $20,700 $2,042
Price – US$/lb $10.27 $3.73 $1.03 $9.39 $0.93

Assay and QA/QC Methodology for Oropesa Drill Core

All core produced is taken daily from each drill site to the Company's secure facility in Fuente Obejuna (previously the IGME facility in Penarroya), where it is logged by the Company's geologists. This process takes place under the supervision of Qualified Person Victor Guerrero Merino, Euro.Geol.

The core, usually of around one metre length, which is chosen by the Company's geologists for assaying, is then cut in half either at the Company's own facilities at Fuente Obejuna or at ALS Chemex's sample preparation facility in Seville in southern Spain.

At the ALS Chemex facility, the cut core is logged into the in house LIMS tracking system, after which each sample is prepared using procedure code 'Prep 31'. This procedure involves the drying, weighing and fine crushing to 70% passing -2mm. A 250g split of the crushed material is then pulverised to greater than 85% passing 75 microns. Samples are then shipped by bonded courier to Vancouver for analysis.

In Vancouver, ALS Chemex procedure ME-XRF10 is used for tin analysis and ME-ICP61 for multi-element (33) analysis. The ME-XRF10 procedure uses 0.9g of calcined sample pulp, which is mixed with 4.5g of lithium tetraborate and 4.5g of lithium metaborate. This mixture is then fused at 1,100°C to produce a flat molten disc, which is subsequently analysed by XRF spectrometry. ALS Chemex analyses its own standard samples and blanks, plus duplicates, within each set of samples provided by the Company. The Company has recently introduced its own blanks and standards as a further means of checking the accuracy of the assay results. One in every ten samples analysed by ALS Chemex is then sent to SGS Lakefield's laboratories in Canada for check assaying for tin. The Company keeps all its sample pulps and rejects in locked steel containers at its secure storage facility in Fuente Obejuna.

In 2008, the Company conducted a check assay program on a statistically large sample of the IGME drill core and found previous results to be acceptably accurate.

Mr Victor Guerrero Merino, an independent geological consultant and a Qualified Person pursuant to NI 43-101, has reviewed and approved the technical information in this news release on behalf of the Company.

Forward-Looking Statements

Results presented in this press release are exploratory in nature. Historical data, if mentioned, should not be relied upon, as they are not admissible under NI 43-101 rules and the Company has not conducted sufficient testing to verify this type of information. In addition, this press release includes certain forward-looking statements within the meaning of Canadian securities laws that are based on expectations, estimates and projections as of the date of this press release. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.

Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: timely implementation of anticipated drilling and exploration programs; the successful completion of new development projects, planned expansions or other projects within the timelines anticipated and at anticipated production levels; the accuracy of reserve and resource estimates, grades, mine life and cash cost estimates; whether mineral resources can be developed; title to mineral properties; financing requirements, general market conditions, and the uncertainty of access to additional capital; changes in the world-wide price of mineral commodities; general economic conditions; and changes in laws, rules and regulations applicable to the Company. In addition to being subject to a number of assumptions, forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to be materially different from those expressed or implied by such forward-looking statements. The Company has no intention or obligation to update the forward-looking statements contained in this press release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Eurotin Inc.
    David Danziger
    Director
    (416) 626-6000