Sinchao Metals Corp.
TSX VENTURE : SMZ
April 16, 2008 08:30 ET
Sinchao Metals Confirms Southwest Extension of Mineralization in Breccia Zone at the Sinchao Property, Peru
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 16, 2008) - Sinchao Metals Corp. (TSX VENTURE:SMZ) is pleased to announce the results from Drill Hole SDH-31, drilled on the Breccia Zone at the Sinchao Property. Assays have been received for the interval 0.0m to 381.5m, the bottom of the hole. Drill Hole SDH-31 intersected dacite porphyry and breccia with clasts of limestone, quartzite and volcanics.
Significant intersections are as follows:
From To Interval Copper Gold Silver
m m m % g/t g/t
2.00 145.8 143.8 0.28 0.25 2.9
347.6 375.0 27.4 0.47 0.43 6.5
These are drill intersections and true widths have yet to be determined.
Drill Hole SDH-31 was drilled approximately 450 metres southwest of holes SDH-07, drilled in 1998, and SDH-12A which returned mineralized intervals of 154 metres grading 0.68% copper and 0.80 g/t gold, and 161 metres grading 0.81% copper and 0.71 g/t gold respectively. Drill Hole SDH-31 is located approximately 140 metres southwest of Hole SDH-32, which was terminated at 45.6 metres due to ground conditions. Drill Hole SDH-32 did not return any significant results, and is currently being re-drilled to the target depth of 400m.
Drill Hole SDH-31 has confirmed the southwest extension of mineralization at the Breccia Zone. Step out drilling 150m to both the north and south of this section is underway. The Breccia Zone remains open in all directions and additional drilling will be required to define the mineralization.
"We are pleased that this drilling continues to identify extensions of the known mineralization," said President Andrew Gourlay, "and we are confident that the current drilling will expand the mineralized area significantly."
Andrew Gourlay, P. Geol., President is the Qualified Person for the technical disclosure in this news release. All samples were prepared and analyzed by the CIMM Peru S.A. laboratory in Lima, Peru, an ISO-accredited laboratory. Standard reference materials, blanks and field duplicate samples were inserted prior to the shipment from site to monitor the quality control of analytical data.
Sinchao Metals Corp. owns 100% interest in the Sinchao Property, which is located in Cajamarca Province, Northern Peru, and 30 kilometres from Yanacocha, the largest gold mine in South America.
On behalf of Sinchao Metals Corp.
Andrew W. Gourlay, P. Geol., President
About Sinchao Metals Corp.:
Sinchao Metals Corp. (TSX VENTURE:SMZ) is focused on the exploration and development of the Sinchao property, located in Cajamarca province in Northern Peru, 30 kilometres from Yanacocha, the largest gold mine in South America. The company is dedicated to creating value for its shareholders by pursuing growth, expansion and enhancement of the Sinchao property.
This news release may contain forward-looking information within the meaning of the Securities Act (Ontario) ("forward-looking statements"). Such forward-looking statements may include the Company's plans for its mineral projects, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risks involving the Company's operations in a foreign jurisdiction, uncertainty of production and costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency fluctuations, fluctuations in the price of gold and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Financial Statements, Management Discussion and Analysis and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.