Mega Silver drills 5.5 m of 258 g/t Ag at Promontorio
2008-10-23 19:36 ET - News Release
See News Release (C-MSR) Mega Silver Inc
Mr. Ken Carter of Mega Silver reports
PROMONTORIO DRILLING COMPLETED
Mega Silver Inc. has released final analytical results from core drilling completed on the Promontorio silver-gold property located in the El Oro municipality in north-central Durango state, Mexico. Results are also pending on preliminary work recently completed on the Montoros property. The Promontorio and Montoros properties are under option from Silverstone Resource Corp.
Promontorio project
Drilling on the Promontorio property was completed Sept. 16, 2008, with a total of 6,447.2 metres drilled in 30 holes:
- 20 holes (5,079.1 metres) drilled on the Promontorio vein structure;
- Four holes (618.7 metres) drilled on the south extension of the Pericos vein structure (Pericos Sur);
- Six holes (749.4 metres) drilled on the north extension of the Pericos vein structure (Pericos Norte).
At the Promontorio vein, 11 of the 20 holes drilled produced significant results. These included results previously reported from holes SP08-01, 02, 03 and 04 (news in Stockwatch dated July 7, 2008). Weighted averages (uncut) across drill intercepts (not true thickness) from holes SP08-06 to 30 include the highlights in the table, "Promontorio Veta -- summary of results."
PROMONTORIO VETA - SUMMARY OF RESULTS Intercept Silver Gold not true (g/t) (g/t) Zinc (%)Drill From/To width weighted weighted weightedhole (metres) (metres) average average averageSP08-30 48.50/ 1.50 306.0 10.96 less 49.50 than 1%SP08-13 116.50/ 2.25 165.7 3.35 less 118.75 than 1%SP08-03 15.50/ 2.00(*) 584.5(*) 0.32(*) less 17.50(*) than 1%And 372.25/ 1.50 270.5 3.43 less 373.75 than 1%SP08-12 128.5/ 5.50(*) 258.0(*) 3.86(*) less 133.00(*) than 1%And 508.5/ 24.50 55.1 0.26 less 533.0 than 1 %Incl. 510.0/ 1.00 153.5 0.68 less 511.0 than 1%SP08-07 36.50/ 1.50 159.5 1.26 less 38.00 than 1%SP08-09 258.75/ 1.50 373.7(*) 0.15(*) less 260.25 than 1%And 380.75/ 63.25 33.7 0.18 1.16% 444.00Incl. 401.25/ 15.50 46.7 0.25 2.49% 416.75SP08-10 53.50/ 3.50 249.3 0.08 less 60.00 than 1%SP08-11A 287.00/ 78.00 33.3 0.07 less 365.00 than 1%(*) The new vein structure is west and parallel to the Promontorio vein.
Drilling completed on the Pericos vein structure was divided between Pericos Sur, where historic mining was done, and Pericos Norte, more than 550 metres along strike to the northwest. Results from the Pericos vein were low, although generally higher in gold along the northern extension.
PERICOS VETA SUR -- SUMMARY OF RESULTS Intercept Silver Gold not true (g/t) (g/t) From/to width weighted weightedDrill hole (metres) (metres) average averageSP08-17 63.00/66.00 3.00 109.8 0.05Incl. 63.50/63.75 0.25 454.0 0.18SP08-18 184.50/185.50 1.00 273.3 0.09
PERICOS VETA NORTE -- SUMMARY OF RESULTS Intercept Silver Gold not true (g/t) (g/t) From/to width weighted weightedDrill hole (metres) (metres) average averageSP08-24 39.50/40.25 0.75 3.7 1.84SP08-18 12.00/19.00 7.00 4.2 2.79And 31.00/32.00 1.00 4.0 2.40
The results reported in the release are weighted averages based on complete results; no additional results are pending. Some minor variations reported for intervals from holes SP08-02 and 04 are because of the inclusion of results from new samples collected to bracket previously reported intervals.
Silverstone is the operator of the project and has contracted Major Drilling De Mexico SA De CV to do the drilling work. All samples are being shipped to ALS Chemex in Hermosillo, Mexico, for preparation. All analysis is being completed at ALS Chemex in North Vancouver, B.C. All samples are crushed, split and pulverized to minus 200 mesh. For silver, the pulps are subjected to total digestion by HF-HNO(3)-HClO(4) digestion, HCL leach and ICP-AES finish. Gold analysis is by 50-gram fire assay with gravimetric finish. Check samples, comprising duplicate pulps and rejects, were sent to SGS in Toronto. Duplicate, blank and standard samples have been submitted at a ratio of 1:20 to standard core samples. Results from check samples are within acceptable errors based on industry standards.
Montoros project
Preliminary mapping, sampling of historic underground and surface showings, grid establishment, and road building have been completed on the Montoros project. Analytical results from sampling are pending. All work has been focused on the Pericos and El Toro vein structures to date.
David Tupper, PGeo, vice-president, exploration, of Mega Silver, a qualified person under National Instrument 43-101, is responsible for the technical aspects of this news release.