News on BelizeErin samples 25.11 grams per tonne gold at Ceibo Chico
Erin Ventures Inc (C:EV)
Shares Issued 49,723,730
Last Close 11/20/2006 $0.17
Tuesday November 21 2006 - News Release
ASSAYS CONFIRM GOLD BEARING STRUCTURE ON BELIZE GOLD PROPERTY
Erin Ventures Inc. has provided the following progress on the Ceibo Chico gold prospect in Belize.
Assay results confirm the discovery of a quartz vein system containing significant free gold and sulphides on Erin's Ceibo Chico gold prospect.
This initial discovery of an in place gold-bearing structure (named Copal-1) is significant in that it supports management's theory that this, and other structures, hosted within a two-kilometre-wide zone of metasediment and clastic rocks in the upper area of the Ceibo Chico drainage system, appears to be the host rock for the residual gold that has been found in the drainage system, as reported previously.
Copal-1 is currently exposed over a length of approximately five metres and vertically for approximately 2.5 metres. Preliminary examination of Copal-1 reveals that several relatively flat-lying (15-degree to 20-degree) quartz veins, separated by 0.5- to one-metre of silty metasediments, extend along the bedding planes of the metasediment host rock. Vein widths vary from 20 to 30 centimetres. This sheeted quartz vein discovery, which contains visible gold, is significant in that it suggests that the quartz veins may originate from a deeper underlying intrusive.
Copal-1 (as first noted in Stockwatch on Sept. 19, 2006) is located within the two-kilometre-wide clastic-metasediment band of rocks, approximately 2.5 kilometres upstream from the Ceibo Chico fan, and about 0.75 kilometre upstream from the volcanic-metasediment contact region.
A total of three samples across the veins in the discovery zone were collected and sent to Eco-Tech Laboratories in Kamloops, B.C., for assay using standard fire assay techniques. The results of these assays are below.
Sample tag No. Au g/t Au oz/t Ag g/t Ag oz/t
350702 4.95 0.144 3.8 0.11 (1)
350703 0.11 0.003 2.4 0.07 (2)
350706 25.11 0.732 33.5 0.98 (3)
(1) Upstream section of discovery vein, lower 30-centimetre quartz
vein in section.
(2) Quartz vein located approximately 1.2 metres below the discovery
vein -- 20 centimetres thick. Minor pyrite.
(3) Upper quartz vein 30 centimetres wide, in discovery vein. Visible
gold with pyrite and fine galena.
The first of two representative grab samples collected from the new discovery vein returned assay values of 25.1 g/t Au and 33.5 g/t Ag across a width of 30 centimetres (sample tag No. 706). The second sample (sample tag No. 702) cut from the same vein approximately five metres to the east returned values of 4.95 g/t Au and 3.8 g/t Ag over similar widths. A third sample (sample tag No. 703) cut from a quartz vein exposed in the same location as the second but located about 1.2 metres lower in the system returned values of 0.11 g/t Au and 2.4 g/t Ag.
Approximately one kilometre of new access trail to the discovery area is now complete. This will enable excavator trenching of the discovery, followed by detailed mapping and sampling of this area. It is expected that detailed exploration in the discovery area will resume early in 2007 with the advent of the dry season. The relatively steep terrain at Copal-1 is expected to permit excavator trenching that will expose the zone over approximately 100 metres and perhaps as much as 10 metres vertically. It is anticipated that this program will result in the definition of drill targets during the next season.
Additional sampling
Seven additional samples that were collected during the continuing trenching and mapping program were submitted to Eco-Tech Laboratories in the same shipment with the samples from Copal-1. The results, using standard fire assay techniques, are below.
Sample tag No. Au g/t Au oz/t Ag g/t Ag oz/t
350701 238.00 6.941 95.1 2.77 (1)
350704 ?0.03 ?0.001 ?0.1 ?0.01 (2)
350705 0.16 0.005 1.1 0.03 (3)
350707 28.90 0.843 31.3 0.91 (4)
350708 ?0.03 ?0.001 0.4 0.01 (5)
350709 0.03 0.001 0.8 0.02 (6)
350710 0.03 0.001 ?0.1 ?0.01 (7)
(1) Trenching at third creek crossing. Quartz float with visible gold
and sulphides.
(2) Seventy metres upstream of Copal-1. Flat-lying 20-centimetre
white quartz vein. No sulphides.
(3) Assumed No. 7 tag location.
(4) Second large piece of quartz float retrieved during trenching at
third creek crossing. Sulphides.
(5) Narrow quartz veinlets across 40 centimetres in black shale at
third creek crossing. No mineralization.
(6) Black shale at third creek crossing with ?1 per cent pyrite.
(7) Clastic with arseno, quartz and pyrite at mouth of second creek
crossing.
The higher grade gold values, tag No. 350701 and No. 350707, originate from large angular quartz blocks that were recovered during the last trenching program located just down stream from the northerly contact between the volcanics and the metasediment-clastic rocks. Although this area was extensively trenched, the bedrock source was not located.
The technical information in this release was prepared by James E. Wallis, MSc (Eng), PEng, a director of the corporation, who is a qualified person under National Instrument 43-101.
© 2006 Canjex Publishing Ltd.