Eurotin Inc.
TSX VENTURE : TIN

Eurotin Inc.

June 04, 2012 08:17 ET

Eurotin Inc.: Drilling Reconfirms the Presence of High Grade Tin Mineralization in All Parts of the 1200m Long Oropesa Deposit

TORONTO, ONTARIO--(Marketwire - June 4, 2012) - 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.

Drilling Highlights:
ORPD 128: 16.8m @ 1.09% Sn from 97.0m
ORPD 123: 13.5m @ 0.75% Sn from 191.0m
ORPD 129: 6.5m @ 0.86% Sn from 111.0m
ORPD 142: 25.2m @ 0.85% Sn from 85.7m
ORPD 142: 6.3m @ 1.85% Sn from 200.2m
Other Highlights:
  • The second of the four planned large diameter (PQ) drill holes has now been completed. These drill cores will shortly be shipped to the laboratories of SGS Mineral Services UK Ltd in Cornwall, UK for detailed metallurgical testwork.
  • Sufficient holes have now been drilled to demonstrate good continuity of the mineralized structures over 1200 metres of the known ~2000 metres of tin mineralization at Oropesa.
  • A modest, deep hole, drilling campaign will begin shortly to test for the presence of additional high grade Primary Structures at depths of between 250 and 750 metres.
The most recent drill results are shown below:
Hole No. Dip & Azimuth From
(m)
To
(m)
Length
(m)
Est. True Width (m) Tin - Sn (%) Comment
ORPD-113 60° @ 200° 14.3 16.7 2.4 0.45%
26.3 33.9 7.6 0.23%
38.6 48.6 8.0 0.21%
ORPD-116 60° @ 200° NSV
ORPD-118 60° @ 200° 32.3 48.3 16.0 0.42%
195.3 201.0 5.7 0.43%
214.0 219.2 5.2 0.29%
ORPD-119 60° @ 200° 87.0 91.4 4.4 0.40%
114.1 116.1 2.0 0.38%
222.4 230.1 7.7 ~6.9 0.67% Primary Structure
ORPD-120 60° @ 200° 19.5 33.1 13.6 0.29%
100.9 116.0 15.1 0.50%
ORPD-122 60° @ 200° 11.3 17.3 6.0 0.24%
56.3 58.3 4.0 0.20%
166.3 175.4 9.1 0.36%
ORPD-123 60° @ 200° 89.5 97.6 8.1 0.27%
191.0 204.5 13.5 ~12.2 0.75% Primary Structure
ORPD-124 60° @ 200° 74.2 86.4 12.2 0.35%
117.6 123.6 6.0 0.24%
ORPD-125 60° @ 200° 9.3 16.1 6.8 0.24%
21.3 29.3 8.0 0.27%
61.4 72.7 11.3 0.22%
82.4 92.6 10.2 0.30%
120.6 122.6 2.0 ~1.8 0.82% Top of Primary Structure
132.4 135.3 2.9 0.33%
138.4 147.0 8.6 0.47%
ORPD-126 60° @ 200° 8.3 17.3 9.0 0.39%
71.3 82.0 10.7 0.21%
225.3 274.4 22.1 0.23%
ORPD-128 60° @ 200° 97.0 113.8 16.8 ~15.1 1.09% Primary Structure
Inc. 98.0 106.1 8.1 ~7.3 1.82% Primary Structure
171.3 189.1 17.8 0.40%
ORPD-129 60° @ 200° 111.0 119.5 6.5 ~5.9 0.86% Primary Structure
129.0 140.0 11.0 0.31%
144.0 148.1 4.1 0.39%
ORPD-131 60° @ 200° 172.8 175.8 3.0 ~2.7 0.61% Top of Primary Structure
181.8 188.6 6.8 0.34%
ORPD-133 60° @ 200° 86.8 89.8 3.0 0.44%
119.6 137.6 18.0 0.30%
ORPD-142 60° @ 200° 85.7 110.9 25.2 ~22.7 0.85% Primary Structure
Inc. 101.9 110.9 9.8 ~8.8 1.19% Primary Structure
200.2 206.5 6.3 ~5.7 1.85% Primary Structure

Note 1: A cut off grade of 0.20% tin has been used.

Note 2: True widths for Replacement Structures not ascertained due to irregular shaped mineralized envelopes.

Note 3: Figures shown in bold represent significant tin results of Width (m) x Grade (%), exceeding a value of 6 and having a grade exceeding 0.65% tin.

Please see below link for Oropesa drill hole locations reported in and prior to this press release:

http://media3.marketwire.com/docs/604TINfig1.pdf

Latest Developments at Oropesa

  1. The Company will shortly commence a ~10km2 soil geochemistry survey at Oropesa. The lines will be 250 metres apart and samples will be taken on 50 metre spacings. Wherever tin anomalies are found, the area will then be tested on spacings of 25 metres.
  1. The Oropesa property is host to several regional geological structures. Testwork, including drilling, has now commenced to determine which structures were the conduits for tin mineralization from a deep granite source.

Conclusion

Peter Miller, President & CEO, comments: "Geological interpretation of our recent drill results has added further evidence to our belief that the Oropesa deposit is part of a major new Tin District, probably the first to be discovered in over 40 years. So while the development of an open pit mine here obviously remains our first priority in providing value to our shareholders, we are also keen to determine the district's tin potential."

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, 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 15 samples analysed by ALS Chemex is then sent to SGS's laboratories in Cornwall, UK, 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.

The Company recently completed a new check assay program using five certified laboratories. The pulp sample composites used had varying tin grades; the accuracy of the results obtained was within acceptable parameters.

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.

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