Preliminary results at El Gringo NEWS RELEASE – No. 5-13 March 27, 2013
SAMEX REPORTS ENCOURAGING PRELIMINARY RESULTS AT EL GRINGO AND FURTHER
EXPANDS DRILL PROGRAM
SAMEX Mining Corp. is pleased to announce strong copper and gold assay results from its
preliminary El Gringo drilling campaign located at the Los Zorros project in Chile. Hole N°10
intersected 22 meters of .49% copper-equivalent mineralization (.24% copper plus .4 grams
per tonne gold) beginning at surface within a strong leaching zone, while hole N°5 intersected
7 meters of hydrothermal breccia with .92% copper mineralization at a depth of 117 meters.
Both holes also show strongly anomalous copper and gold values disseminated throughout
multiple other intervals. In light of these encouraging results, the Company has decided to
further expand this phase of its El Gringo drill campaign by another 800 meters to 2000 total
meters. A detailed drill map and images of these highlighted intercepts have been posted
online in the Coreshack section of www.samex.com.
The copper and gold encountered thus far belongs to an extensive hydrothermal cluster
system characterized by feldspar porphyry, andesitic intrusives, and hydrothermal breccias
with a strong potassic halo alteration. This mineralization has shown to be characterized by
strong stockwork, veinlets, and disseminated mineralization beyond two structural block faultcontrolled zones. Drill-core inspection reveals a strong leached zone emplacement at a depth
of roughly 80 meters beneath the paleosurface with copper oxide and disseminated gold
content. It is believed that the mineralized intercepts highlighted above are cutting branches
or limbs of a greater system. Drilling to depths of up to 300 meters will be now required to
discover the possible mineralizing source of this hydrothermal system.
Pyrite, chalcopyrite, bornite, chalcocite, covellite, chrysocolla, and malachite are among the
principal forms of copper mineralization found at El Gringo. The alteration is also typical of
porphyry-type deposits considering the propylitic and kaolinitic-argillic-biotitic alteration
associated with quartz-pyrite. Mineralized skarns and breccias have also been noted in this
complex hydrothermal system that is subject to extreme structural dislocations.
“Taking our cue from these assay results, we have decided to focus the bulk of our drilling in
this next phase on the southwest section of El Gringo. It is still too early to quantify the
potential grade or tonnage of our target source, however we are very excited to follow up
these early findings,” notes SAMEX Chief Geologist Juan Carlos Toro Taylor.
Assays from multiple holes are still pending and will be announced in due course once
received and properly analyzed.
El Gringo Drill Hole Table
DDH Drill Depth (m) Status
EG-13-001 100 Complete – Anomalous Copper and Gold throughout
EG-13-002 202.80 Complete – Anomalous Copper and Gold throughout
EG-13-003 111.20 Complete
EG-13-004 70.80 Complete
EG-13-005 135.20 Complete – Refer to This Press Release
EG-13-006 83.50 Complete
EG-13-007 TBD Planned – Secondary Priority
EG-13-008 TBD Planned – Secondary Priority
EG-13-009 TBD In Progress
EG-13-010 120.20 Complete – Refer to This Press Release
EG-13-011 TBD Planned
EG-13-012 TBD Planned
EG-13-013 TBD Planned
Juan Carlos Toro Taylor, M.Sc. Economic Geology, Chief Geologist of SAMEX Mining Corp.,
is acting as Qualified Person in compliance with National Instrument 43-101 with respect to
this release. He has reviewed the contents for accuracy.
All assay information used in conjunction with this news release was provided by ALS
Minerals, an independent, internationally recognized and ISO certified laboratory complying
with the international standards ISO 9001:2000 and ISO 17025:1999.
This News Release includes certain "forward looking statements". Without limitation, statements regarding potential mineralization and resources, exploration results, future prospects of the Company, and future plans and objectives of the Company are forward-looking statements that involve various risks. Actual results could differ materially from those projected as a result of the following factors, among others: risks inherent in mineral exploration and grade of ore mined; risks associated with development, construction and mining operations; the uncertainty of future profitability and uncertainty of access to additional capital. Except as may be required by law, SAMEX undertakes no obligation to revise or update any forward-looking information as a result of new information, future events, or otherwise after the date hereof.
The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.
Contact:
SAMEX Mining Corp.
Sasan Sadeghpour
Director, Chairman & Interim Chief Executive Officer
(713) 956-5200, extension 102
2samex@samex .com
www.samex.com