Southwestern Resources Corp.
TSX : SWG

Southwestern Resources Corp.

April 26, 2007 08:00 ET

Southwestern Announces Positive Drill Results From First Phase Drilling Program at Pacapausa in Peru

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 26, 2007) - Southwestern Resources Corp. (TSX:SWG) ("Southwestern" or "the Company") reports positive drill results from the first phase drilling program at the Pacapausa Silver Project in southern Peru. A total of 11 holes were completed totaling 2,082.3 metres. The first phase drilling tested a limited area of known silver mineralization on the property outlined in the surface sampling program.

The Pacapausa project is subject to an option agreement with Minera Oro Vega S.A.C. ("Oro Vega"), a Peruvian subsidiary of International Minerals Corporation, under which Oro Vega is the operator and has the option to earn up to a 70% interest in Pacapausa by meeting certain work commitments, completing a feasibility study, and arranging production financing for the project.

Highlights of the drill results provided to the Company by Oro Vega include:

- 10.8 metres of 212 grams per tonne silver in hole PACA-009.

- 1.5 metres of 548 grams per tonne silver in hole PACA-001.

- 4.8 metres of 100 grams per tonne silver in PACA-005.

Mineralization intersected in hole PACA-009 (10.8 metres of 212 grams per tonne silver) is not associated with any outcropping mineralization and further drilling will be carried out to determine the extent of this wide high grade silver zone.

John Paterson, President and CEO, said: "We are extremely pleased with the results of the first phase drilling at Pacapausa considering only a very small portion of the known mineralization was tested in this drilling program. We are also very excited with the intersection of 10.8 metres of 212 grams per tonne silver in hole PACA-009 which has no surface expression. We look forward to continued positive drilling at Pacapausa."

Results from all drill holes are located in the following table. Drill hole locations can be viewed at the Company's website www.swgold.com.



------------------------------------------------------
Intersection Silver
----------------- Core Assay
From To Interval(i) (grams/
Hole No. (metres) (metres) (metres) tonne)
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PACA-001 39.20 39.50 0.30 466
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45.05 46.10 1.05 295
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53.00 54.50 1.50 548
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including 53.95 54.50 0.55 1,440
------------------------------------------------------

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PACA-002 35.10 35.40 0.30 53
------------------------------------------------------
109.85 110.20 0.35 54
------------------------------------------------------

------------------------------------------------------
PACA-003 20.90 21.20 0.30 360
------------------------------------------------------

------------------------------------------------------
PACA-004 28.80 29.00 0.20 113
------------------------------------------------------
45.70 46.75 1.05 87
------------------------------------------------------
49.07 49.30 0.23 400
------------------------------------------------------
53.25 53.50 0.25 192
------------------------------------------------------

------------------------------------------------------
PACA-005 37.30 42.10 4.80 100
------------------------------------------------------
46.60 47.50 0.90 111
------------------------------------------------------

------------------------------------------------------
PACA-006 26.00 26.30 0.30 96
------------------------------------------------------
42.59 43.00 0.41 531
------------------------------------------------------

------------------------------------------------------
PACA-007 46.00 46.40 0.40 164
------------------------------------------------------

------------------------------------------------------
PACA-008 31.50 32.85 1.35 106
------------------------------------------------------
39.00 39.40 0.40 377
------------------------------------------------------

------------------------------------------------------
PACA-009 24.09 24.70 0.61 409
------------------------------------------------------
34.60 36.30 1.70 104
------------------------------------------------------
47.90 52.40 4.50 205
------------------------------------------------------
72.60 83.40 10.80 212
------------------------------------------------------
including 78.60 79.00 0.40 887
------------------------------------------------------
83.00 83.40 0.40 1,290
------------------------------------------------------
131.75 132.00 0.25 364
------------------------------------------------------
203.40 204.50 1.10 101
------------------------------------------------------

------------------------------------------------------
PACA-010 88.18 88.46 0.28 102
------------------------------------------------------

------------------------------------------------------
PACA-011 98.00 98.23 0.23 316
------------------------------------------------------
(i) True widths are not known at this time.


Pacapausa comprises 7,933 hectares of exploration concessions in the Southern Peru Tertiary Volcanic Belt, 250 kilometres northwest of Arequipa. The property is underlain by a three kilometre by five kilometre low sulphidation epithermal silver system containing numerous veins and breccia/stockwork zones.

The first phase drilling program focused on one of five zones detected by Oro Vega in their surface rock chip sampling program. Drilling was conducted within the Principal zone where 258 rock chip samples were collected in veins measuring 0.5 metres to 3.7 metres (not true widths) with reported silver values ranging from 33 grams per tonne to 1,320 grams per tonne. It is anticipated that the second phase drilling program will commence shortly.

Quality Control

Oro Vega is the project operator. Samples are sent to the ALS Chemex laboratory in Lima, Peru for sample preparation and analysis using standard industry methods. ALS Chemex is an ISO 9002 registered laboratory and is preparing for ISO 17025 certification. Rock samples are crushed to greater than 70% passing 10 mesh, and pulverized to greater than 85% passing 200 mesh. A fraction of the pulps is analyzed for gold by fire assay and AAS. Another fraction of the pulps is digested in aqua regia digestion and is analyzed for 50 elements by ICP-AES+MS. Higher grade lead, copper and zinc analyzes are analyzed by AAS. High-grade gold and silver values are analyzed by fire assay and gravimetric finish.

John Paterson, President and Chief Executive Officer of Southwestern and a member of AUSIMM, is Southwestern's Qualified Person ("QP") for Pacapausa, as defined under National Instrument 43-101. As the QP, he has supervised the preparation of the technical information reported in this news release.

About Southwestern

Southwestern is a Vancouver-based mineral exploration company engaged in the identification, acquisition, evaluation and exploration of gold, silver and base metals mineral properties in China and Peru. The Company has a number of significant projects including the Liam Gold-Silver Project in Peru with Newmont Peru Limited, the Antay Porphyry Copper-Gold Project in Peru with Anglo American Exploration Peru S.A. and the Boka Gold Project in China with Team 209 of the Yunnan Nuclear Industry, where a major drilling program is being conducted. The Company is also exploring for porphyry copper-gold in a large area of southwestern Yunnan Province, China under a joint venture with Newmont Overseas Exploration Limited, and has entered into a Joint Venture Heads of Agreement with Inco Limited, a subsidiary of CVRD Canada Inc., to carry out mineral exploration for nickel, copper and platinum group metals in Yunnan and Sichuan provinces, China. Southwestern also owns 49.73% of the recently listed Zincore Metals Inc., which holds zinc assets in Peru. At the end of the first quarter of 2007 the Company had $41 million in cash and short-term investments, $37 million in other investments, and no debt. Southwestern is a reporting issuer in British Columbia, Alberta, Manitoba, and Ontario and trades on the Toronto Stock Exchange under the symbol SWG.

Forward-looking Statements

Statements in this release that are forward-looking are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.

Contact Information

  • Southwestern Resources Corp.
    Meghan Brown
    Manager Investor Relations
    (604) 669-2525
    (604) 688-5175 (FAX)
    Email: info@swgold.com
    Website: www.swgold.com