News Release---Moris Exploration ProjectEXMIN-Hochschild Joint Venture Updates Exploration Activity at the Moris Project, Chihuahua, Mexico
CCNMATTHEWS
EXMIN Resources Inc.
July 11, 2007 - 09:01:36 AM
EXMIN-Hochschild Joint Venture Updates Exploration Activity at the Moris
Project, Chihuahua, Mexico
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 11, 2007) - EXMIN Resources
Inc. (EXMIN) (TSX VENTURE:EXM) is pleased to provide an update of recent
exploration activities at its Moris exploration project in the Sierra Madre
precious metal belt in western Chihuahua, Mexico. EXMIN has two joint ventures
at Moris, both with Minera Hochschild Mexico SA de CV (Hochschild). The first
agreement is an earn-in joint venture covering the Moris exploration
properties. Please see News Releases of March 22, 2006, and July 18, 2006, for
more information on the EXMIN-Hochschild Moris Exploration joint venture. This
earn-in joint venture agreement is separate from the EXMIN-Hochschild Moris
Mine acquisition and production joint venture described in News Releases dated
July 19, 2006, and Jan 18, 2007.
The EXMIN/Hochschild exploration joint venture has undertaken an aggressive
program in the Moris district. Several additional concessions have been
acquired by EXMIN and Hochschild has continued the evaluation of several large
scale exploration targets in the district that was begun by EXMIN, in 2004.
Surface sampling and geologic mapping have been advanced in several areas,
including the near term targets at Tecolote, Ampliacion Finlandia, and
Balleza, and a first-pass diamond drill program is underway at the Tecolote
target. Results from the first three holes have confirmed the presence of
precious metal values within the Tecolote structural zone. Several discrete
veins have been cut, and a wide zone of breccia with anomalous gold values has
also been intersected. Hole HMT-1 intersected 40.75 metres with 0.6 grams per
metric ton (g/t) gold; this interval contained a discrete quartz vein with
5.35 g/t gold over 45 cm.
Karl J. Boltz, President and CEO of EXMIN, stated, "We are extremely pleased
with the work being done by Hochschild at Moris. Work last year focused
largely on the Moris Mine due diligence, but this year Hochschild has advanced
the district wide exploration program. Drilling at the Tecolote target has cut
narrow high grade veins and wider zones of lower grade mineralization similar
to the grades of the Moris Mine that could potentially be bulk mineable. We
also anticipate drilling at least one other target area in the exploration
joint venture this year."
Near Term Targets
The joint venture has continued the exploration program initiated by EXMIN, as
highlighted in the News Releases dated February 22, 2006 and July 18, 2006.
Several areas are being mapped and sampled in order to define targets for
future exploration and drilling.
Tecolote. The Tecolote area consists of a large structural zone that hosts a
vein system that has been traced for over 800 metres along strike and is
exposed over a vertical extent of more than 500 metres. The structural zone is
similar to that which hosts the Santa Maria vein in the Moris Mine, although
at much higher structural levels of exposure. Relatively narrow veins occur
within a large area of high-level silicification, a feature commonly observed
above productive low sulfidation epithermal deposits.
A diamond drill program began in February to explore the upper levels of the
vein system. To date, four holes have been completed for a total of 697.60
metres of drilling (see table). Results from the first three holes confirm the
presence of precious metal values over wide intervals within the structural
zone. Hole HMT-1 returned 40.75 metres with 0.6 g/t gold, HMT-2 returned 6.4
and 4.5 metres with 0.57 and 1.12 g/t gold respectively, and HMT-3 returned
16.65 metres of 0.89 g/t gold. Several narrower higher grade vein intercepts
occur within the wider zones (see assay table below). Hole HMT-4 was a
vertical hole drilled to test a geophysical anomaly and cut a strongly altered
dike of intermediate to mafic composition that appears to be emplaced within
the Tecolote structural zone; assays are pending.
Ampliacion Finlandia. At Ampliacion Finlandia, a breccia body with fragments
of wall rock and interstitial quartz vein fill, previously sampled by EXMIN,
yielded high silver values; 18 samples averaged 2.0 metres in width with 0.92
g/t gold and 206 g/t silver (see News Release of July 18, 2006, for sample
data). New sampling by Hochschild yielded gold values as high as 7.98 g/t and
silver values as high as 968 g/t, both over 2 metre sample widths (see table
below). The breccia body may be amenable to bulk mining methods and further
work to define the geometry of the body, including a diamond drill program, is
planned for this year.
Balleza. The Balleza target consists of a silicified rhyolite dike that hosts
quartz-matrix breccias and local discrete high grade quartz veins. The dike
has been explored over mineralized widths of 10 to 25 metres and is exposed
over a vertical elevation of more than 100 metres and at least 500 metres
along strike, and is open in both directions. Of fifty-seven rock chip samples
previously taken by EXMIN, more than half returned gold values of greater than
0.5 g/t Au and ranged up to 6.18 g/t Au and 461 g/t Ag. One sample from a mine
dump assayed 26.6 g/t Au. Rock chip sampling by Hochschild has yielded similar
results, with most samples assaying more than 0.3 g/t in the silicified and
brecciated dike (see table below). Local high grade veins assayed as much as
17.5 g/t gold over a width of one metre. The Balleza breccia body is road
accessible and further exploration to evaluate the potential for bulk tonnage
mining is planned for this year.
Assays and Drill Hole Data from Tecolote Area Drilling
--------------------------------------------------------------------------
Total Depth (m) Intercept Au Ag
Hole Depth (m) Azimuth Inclination From To m g/t g/t
--------------------------------------------------------------------------
HMT-1 201.45 270 -55 126.15 166.90 40.75 0.60 3.4
includes 149.85 166.90 17.05 1.05 2.86
includes 152.60 153.05 0.45 5.35 5.0
HMT-2 201.55 270 -55 99.65 106.05 6.40 0.57 3.9
includes 103.15 103.50 0.35 3.63 18.9
109.20 113.70 4.50 1.13 2.3
includes 112.30 113.70 1.40 2.21 2.3
HMT-3 144.60 270 -50 82.70 99.35 16.65(i) 0.89 5.7
includes 83.70 84.30 0.60 3.95 16.7
and 91.30 92.65 1.35 1.73 5.4
and 96.45 97.80 1.35 1.95 6.3
HMT-4 150.00 0 -90 Pending
--------------------------------------------------------------------------
(i) A gap of 1.55 metres due to a missing sample was not averaged.
Quality Assurance
Joint venture samples were prepared and analyzed by ALS Chemex at their labs
in Mexico and Vancouver, and generally consisted of 1-3 kg of material. Gold
analyses were performed by 30 gram fire assay with an AA finish; samples with
more than 10 g/t gold were analyzed by fire assay with a gravimetric finish.
Silver was analyzed as part of a multi-element ICP package using an aqua regia
digestion; samples with more than 100 g/t silver were analyzed by AA.
Dr. Craig Gibson, PhD., Executive Vice President of Exploration is the
authorized professional geologist for EXMIN Resources Inc. and the direct
manager of all technical programs and information on the part of EXMIN.
Selected assays:
Balleza target
-----------------------------
Width Au Ag
Sample (m) (g/t) (g/t)
-----------------------------
43634 4.0 0.22 4.1
43635 0.8 0.49 18.0
43636 2.0 1.38 95.5
43637 2.0 0.45 13.5
43638 2.0 0.49 39.5
44125 6.0 0.81 17.2
44126 3.0 0.52 24.6
44127 1.0 17.50 8.5
44128 1.0 0.37 2.8
44129 2.5 7.27 19.4
44130 1.5 0.43 7.9
44131 1.2 12.30 173.0
less
than
44138 2.0 0.01 0.2
less less
than than
44139 3.0 0.01 0.2
44140 4.0 0.09 0.2
44141 3.0 0.04 0.2
44142 3.0 0.08 0.2
44154 2.0 0.52 1.7
44155 1.0 0.71 1.0
44156 1.0 2.70 1.2
44157 1.0 1.66 4.2
44158 1.0 0.37 13.3
44159 2.0 0.22 6.5
44160 1.0 0.07 1.0
44161 1.0 2.52 8.1
44162 1.0 3.46 2.8
44163 1.0 0.47 12.2
44164 2.0 1.11 41.5
44165 3.0 1.28 59.0
44166 3.0 0.81 19.2
44167 3.0 0.86 23.2
44168 3.0 0.29 23.9
44169 2.5 0.50 16.6
44170 2.5 0.73 5.5
44171 1.5 0.29 3.1
44174 1.5 1.24 4.9
-----------------------------
Selected assays:
Ampliacion Finlandia
-----------------------------
Width Au Ag
Sample (m) (g/t) (g/t)
-----------------------------
40381 0.5 0.12 4.6
43655 2.0 0.60 291.0
43656 2.0 0.02 4.2
43657 2.0 0.03 3.6
43658 2.0 0.06 29.1
43659 2.0 0.71 226.0
43660 2.0 1.87 286.0
43661 2.0 0.99 230.0
43662 2.0 1.89 255.0
43663 2.0 1.37 247.0
43664 2.0 4.09 686.0
43665 2.0 2.29 958.0
43666 2.0 0.15 196.0
43667 2.0 0.91 162.0
43668 2.0 0.03 8.2
43669 2.0 0.04 6.3
43670 2.0 1.04 154.0
43671 2.0 0.92 133.0
43676 1.0 0.14 29.0
43677 1.3 2.52 12.4
43678 1.3 0.11 23.3
43679 1.0 0.05 6.2
43680 1.0 0.02 2.1
43681 0.5 0.58 68.2
43682 2.0 1.08 135.0
44110 2.0 0.04 56.5
44111 2.0 0.12 65.5
44112 2.0 0.19 598.0
44116 2.0 2.34 155.0
44117 2.0 7.98 142.0
44118 2.0 0.08 5.5
44119 2.0 0.15 18.9
-----------------------------
About Hochschild
Minera Hochschild Mexico (MHM) is a subsidiary of Hochschild Mining plc (HOC.L
for Reuters / HOC LN for Bloomberg), a publicly held company listed on the
London Stock Exchange. Hochschild is a leading precious metals company with a
primary focus on the exploration, mining, processing and sale of silver and
gold. Hochschild currently operates four underground epithermal vein mines,
three located in southern Peru and one in southern Argentina. Hochschild also
has two advanced stage development projects, one in each of Mexico and Peru
and one early stage development project in Mexico. In addition, Hochschild has
over twenty long-term prospects throughout Latin America and has over forty
years experience in the mining of precious metal epithermal vein deposits. For
further information please visit www.hochschildmining.com.
Neither EXMIN's joint venture partner, Minera Hochschild Mexico, nor
Hochschild Mining plc or any of its subsidiaries, accept any responsibility
for the use of project data or the adequacy or accuracy of this release.
About EXMIN
EXMIN Resources Inc. (EXMIN) is currently focused on the exploration and
development of precious metal properties of exceptional merit in the Sierra
Madre gold belt of Northwestern Mexico as well as in other highly mineralized
areas of 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
EXMIN Resources Inc. Karl J. Boltz President & CEO 1-888-244-0304
EXMIN Resources Inc. Investor Relations 1-888-244-0304 Email:
info@exmin.com Website: www.exmin.com
The TSX Venture Exchange has not reviewed this release and does not accept
responsibility for the adequacy or accuracy of this news release.