Eurotin Inc.
TSX VENTURE : TIN

February 02, 2012 08:00 ET

Eurotin's Oropesa Drill Program Continues to Intercept High Grade Tin Mineralization Over Significant Widths

TORONTO, ONTARIO--(Marketwire - Feb. 2, 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.

Highlights

  • Drilling continues to intersect zones containing strongly developed tin mineralization:
ORPD 81: 23.4m @ 1.49% Sn from 71.0m
ORPD 76: 20.3m @ 1.48% Sn from 106.2m
ORPD 79: 19.6m @ 0.87% Sn from 116.3m
ORPD 74: 14.9m @ 0.90% Sn from 143.4m
ORPD 74: 10.7m @ 0.84% Sn from 106.3m
ORPD 75: 9.3m @ 1.00% Sn from 195.0m
  • The Company has so far drilled 106 holes in an estimated 500 hole program at Oropesa and has received assay results from ~5,750 metres of drilling.

As previously reported, two types of tin mineralization have now been identified at Oropesa:

  1. 'Primary' Structures*: Generally 6-15 metres thick, grading 0.8-2.0% tin; and
  2. 'Replacement' Structures: Up to 25 metres thick, grading 0.3-0.8% tin.

* The 'primary structures' appear to thicken and have improving tin grades with increasing depth.

Drill Results

The most recent results from the current drill grid are shown below:

Hole No. Dip &
Azimuth
From
(m)
To
(m)
Length (m) Est. True Width (m) Tin -
Sn (%)
Comment
ORPD-70 60° @
200°
NSV South of
Mineralization
ORPD-72 60° @
200°
157.0 163.1 6.1 0.32%
ORPD-73 60° @
200°
42.0 62.5 20.5 0.28%
76.8 82.8 6.0 0.25%
130.5 135.3 4.8 0.23%
137.3 142.3 5.0 0.75%
187.7 192.7 5.1 0.29%
198.8 205.8 7.0 0.50%
ORPD-74 60° @
200°
106.3 115.0 10.7 10.2 0.84%
127.7 132.7 5.0 1.04%
143.4 158.3 14.9 14.2 0.90% 'Primary
Structure'
ORPD-75 60° @
200°
195.0 206.3 9.3 8.8 1.00% 'Primary
Structure'
217.0 219.1 2.1 0.65%
ORPD-76 60° @
200°
106.2 126.5 20.3 19.3 1.48% 'Primary
Structure'
ORPD-77 60° @
200°
150.1 154.3 4.2 0.34% Structures cut
off by fault
ORPD-78 60° @
200°
73.3 78.4 5.1 0.80%
83.5 86.5 3.0 1.40% Top of 'Primary
Structure'
121.7 123.8 2.1 0.65%
167.9 177.2 9.3 0.56%
ORPD-79 60° @
200°
6.9 10.4 3.5 1.36%
95.7 97.7 2.0 0.60%
116.3 135.9 19.6 18.6 0.87% 'Primary
Structure'
Inc. 116.3 126.6 10.3 9.8 1.23% 'Primary
Structure'
177.3 186.4 9.1 8.6 0.84% 'Primary
Structure'
195.2 201.3 4.1 0.42%
ORPD-80 60° @
200°
66.0 67.6 1.6 2.35% Top of 'Primary
Structure'
155.4 165.7 10.3 0.45%
ORPD-81 60° @
200°
71.0 94.4 23.4 22.2 1.49% 'Primary
Structure'

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 6.

Map of Current Drill Grid

To view figure 1, please visit the following link: http://media3.marketwire.com/docs/ET%20Link%201.pdf

Drilling of this first grid, apart from RC infill holes, is now complete and the final assay results are expected shortly. This area has been found to contain two 'primary' structures and two 'replacement' structures within a modestly downfaulted block of ground. The 'primary' structures have been displaced northwards on either side of the faulted area. Tin mineralization appears to increase with depth and eastwards within the grid area, however this may be no more than a localized reflection of the 'pinching and swelling' typical of most tin deposits.

The cross section below shows Line 4 of the recently completed drill grid which illustrates the relationship between 'primary' and 'replacement' mineralized structures.

To view figure 2, please visit the following link: http://media3.marketwire.com/docs/ET%20Link%202.pdf

As shown above, the 'replacement' structures are almost flat lying and are located only in greywackes (coarse, feldspar rich, quartzites), which are found inter-bedded within poorly sorted conglomerates. The higher grade 'primary' structures cut through both the greywackes and conglomerates and are the source of tin mineralization for the 'replacement' structures.

Other

  1. There are now four drill rigs operating at Oropesa.
  1. The previously reported high grade 'deep structure' has been interpreted as representing the discontinuous outcrop of Oropesa 'primary' structures in the form of abnormally well-mineralized gossans.
  1. The Company has recently commissioned a structural study of the area around Oropesa. Initial results indicate three ages of faulting: i) several NW/SE regional faults - Pre-mineralization and often hosting the tin mineralization, ii) one E-W local fault - Post-mineralization, and iii) several NNW/SSE local faults, representing the last stage of faulting. The study is tasked with determining the location of extensions to the known 1,300 metres of tin mineralization at Oropesa. The last two stages of faulting are believed to involve relatively small displacements, which could mean the proposed extensions should outcrop on surface and/or will be found at relatively shallow depths.
  1. Peter Miller, President and CEO of Eurotin, comments: "We take great encouragement from the continuing positive drill results and our steadily increasing understanding of this tin deposit".

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.

Contact Information

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