EXMIN Resources Inc.

EXMIN Resources Inc.

October 27, 2005 09:01 ET

EXMIN Resources Inc.: Geophysical Survey Outlines Drill Targets at Tati de Oro in Chihuahua, Mexico

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 27, 2005) - EXMIN Resources Inc. (TSX VENTURE:EXM), announces that it has received preliminary results from its induced polarization survey at the 85,000 acre, 100% owned Tati de Oro concession, in Maguarichic, Chihuahua, Mexico. The geophysical survey was completed in an area of strong alteration, local quartz veining and anomalous values of gold, silver and indicator elements arsenic, antimony and mercury. The gradient array IP survey of 2.8 total line kilometres was conducted over 3 lines spaced at 200 metres in order to identify the structural zone at depth and define drill targets. Resistivity and chargeability contrasts were identified at a 250 to 300 metre depth, indicating that the altered structural zone identified at surface extends to depth. EXMIN is waiting for more detailed processing of the data in order to refine the depth estimate so that the area can be drill tested as soon as practicable.


The Tati de Oro concession covers most of a 20 km long mineralized structural zone on which there are more than 30 old mines and prospects. The principal mine in the district, La Patria, lies within a small concession that is held by a third party. The Patria mine concession is located in the center of the Tati de Oro concession and the mineralized zone. The Patria mine was discovered by the Spanish in the 1700's. According to a report for the Consejo de Recursos Minerales (now called Servicio Geologico Mexicano, the equivalent of the Mexican Geological Survey), by Hernandez and Hernandez in 1988, recorded production in two periods, in the 1930's and 1980's at the Patria mine, totaled 268,000 tons with grades of 20 g/tonne gold and 944 g/tonne silver.


The bonanza ore shoots in the La Patria veins are exposed in a deeply incised canyon underneath distinctive high-level clay-alunite alteration typical of that developed above boiling zones in hydrothermal systems. Similar alteration occurs, where erosion has not exposed the potentially mineralized horizon, for 10 km on EXMIN's ground, extending southwest from the Patria mine. This area has received little modern exploration and has never been drilled.


Mapping and sampling in the area, since April, have delineated a northeast trending alteration zone along strike with the bonanza vein system of the Patria mine. Geochemical analysis of more than 250 rock chip samples, of average weight 1-2 kg, have outlined a two kilometre long zone with locally anomalous values of gold, silver and indicator elements arsenic, antimony and mercury. The geophysical survey was designed to explore below the altered zone exposed at the surface and to define drill targets at a depth that corresponds to the structural level of the ore shoots in the Patria vein system.

Ron Mertens, P.Geo., was responsible for geophysical data collection and the preliminary interpretation. All rock samples were prepared and analyzed in the laboratories of ALS Chemex in Mexico and Vancouver, respectively, using a 30 gram fire assay with atomic absorption finish and a multielement ICP suite with a low detection limit for mercury.

Dr. Craig Gibson, PhD., Executive Vice President of Exploration, is the authorized professional geologist for EXMIN and the direct manager of all technical programs and information.

About EXMIN Resources Inc.

EXMIN Resources Inc. is currently focused on the exploration and development of precious metal properties of merit in the Sierra Madre gold belt of Northwestern Mexico.

Note: EXMIN Resources Inc. (EXMIN) has taken all reasonable care in producing and publishing information contained in this news release. Material in this news release may still contain technical inaccuracies, omissions or typographical errors, for which EXMIN assumes no responsibility. This news release may include certain "forward-looking statements" including but not limited to comments regarding predictions and projections. All statements, other than statements of historical fact, included in this news release, including, without limitation, statements regarding potential mineralization, exploration results, and future plans and objectives of EXMIN, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in documents filed from time to time with the regulatory authorities.

The TSX Venture Exchange has not reviewed this release and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • EXMIN Resources Inc.
    Karl J. Boltz
    President & CEO
    EXMIN Resources Inc.
    Laney Stolle
    Investor Relations