Golden Tag Resources Ltd. and ECU Silver Mining: Confirmation of High Grade Silver-Lead-Zinc Values in Main Veins at San Diego,
April 07 2008 - 8:30AM
Marketwired Canada
Golden Tag Resources Ltd. (TSX VENTURE:GOG) ("Golden Tag") and ECU Silver Mining
Inc. (TSX:ECU) ("ECU") are pleased to report additional diamond drill hole
results from its exploration program at their jointly held San Diego property,
Durango State, Mexico.
Partial drill results from recent holes, SD-07-23 and SD-08-26, drilled in the
Eastern sector of the property continue to expand mineralization as well as
confirm high grade nature of the main Montanez, Cantarranas Veins and
subsidiary, El Jal Veins and Canta-Splay Vein.
In addition, recent sampling of old workings conducted on the Porvenir Vein
confirmed the high grade potential of this vein.
Results from drilling with true widths are reported in Table 1. Highlights from
drilling include:
Montanez Vein
The vein strikes ESE and dips 87 degrees S and is hosted in the Hangingwall
portion of the Montanez Zone. It has been confirmed over a strike length in
excess of 600 metres.
- 1,786 g/t Ag over 1.25 m (SD-08-26) with 6.38% Pb and 4.33% Zn
Cantarranas Veins
The vein strikes E-W and dips 80 degrees S with a confirmed strike length of 400
metres.
- 1,365 g/t Ag over 0.75 m (SD-08-26) with 21.40% Pb and 6.90% Zn; and,
- 1,060 g/t Ag over 0.55 m (SD-08-26) with 14.95% Pb and 3.85% Zn
Canta-Splay Vein
This Vein is oriented ENE and dips 80 degrees NW and is confirmed over a strike
distance of 350 metres.
- 620 g/t Ag over 0.75 m (SD-08-23) with 1.73% Pb
El Jal Vein
The Vein trends NE and dips 60 degrees SE with a confirmed strike length of 400
metres.
- 933 g/t Ag over 0.22 m (SD-08-23) with 5.84% Pb and 1.74% Zn
And, underground sampling of:
Porvenir Vein
This Vein, located in the north-eastern corner of the property, is E-W oriented
and steeply dipping to the south and can be traced on surface for over 100
metres.
- 2,012 g/t Ag over 0.12 m with 1 g/t Au, 29.9% Pb and 4.3% Zn
Results from current drilling continue to be encouraging for potential resource
expansion and lie outside the current area of Resource modelling. The holes
confirm:
- Further extension to the ENE for the Canta-Splay Vein (SD-08-23)
- Further extension to 300 m below depth for both the El Jal Vein (SD-08-23) and
Cantarranas Veins (SD-08-26) as well as confirmation of increasing metal grades
with depth;
- Presence of a very rich silver area within the Montanez Vein (SD-08-26)
located only 70 m below surface that can be linked to last year's DDH SD-07-01
and -01A situated 120 metres to the west that respectively returned grades of
3,680 g/t Ag over 0.75 cm with 7.85% Pb and 10.9% Zn and, 1,395 g/t Ag over 0.55
cm with 14.8% Pb and 8.63% Zn.
- High grade potential of the Porvenir Vein, an E-W oriented structure
(underground sampling).
The San Diego property hosts a well-developed pattern of high-grade Ag-Pb-Zn
tabular veins that show persistent continuity both along strike and at depth. At
least two main systems of Veins are recognized, an E-W system that includes the
Cantarranas, Rata and SD Veins and, a NW-SE system that includes the Montanez,
La Cruz and Trovador Veins. The other veins on the property, the NE trending El
Jal Vein and ENE striking Canta-Splay Vein, are recognized as subsidiary
structures. Together, all of these veins represent the surface expression of a
deep-seated epithermal system of mineralization. In some instances, the veins
are simple fractures filled with mineralizing fluids like the El Jal Vein. In
other cases, such as the La Cruz and Montanez, the veins can be associated to
fault corridors developed along contact zones between the intrusive rock
(diorite/monzonite) and the hosting limestone. Broader zones of sulphide
mineralization offering large tonnage bulk mining potential (see Company press
release of March 3, 2008) appear to be related to fracturing and replacement
near or along the contacts of the intrusive bodies within limestone with skarn
alteration and marble contact metamorphism.
Information gathered from completion of hole SD-07-26 further suggests that the
Cantarranas Vein would, like La Cruz and Montanez Veins, be associated to a
fault corridor (the Grey Fault Zone) located along a diorite/marble contact.
This broader Cantarranas structure appears to join with the silver-rich
stringers zone identified in hole SD-07-20 hosting silver grades as high as
4,420 g/t Ag over 0.58 m (see press release of March 3rd, 2008) that is also
related to the same diorite/marble contact.
Golden Tag and ECU Silver initiated their Phase 3 diamond drilling program in
October 2007. A total of 16 holes have been completed to date for a total of
6,650 metres of drilling. Six drill holes have now been reported. Construction
of a new drill road in the hilly south portion of the property was completed to
allow drilling the highly prospective area east of the central Diorite. Hole
SD-08-33 was recently completed from this road to follow-up on previously
reported holes SD-07-20 and 07-22 and test the Montanez Zones, Cantarranas and
SD Veins. Assay results from Hole SD-08-33 are currently unavailable, however,
visual observations made on core are very encouraging. The environment of
mineralization intersected includes semi-massive and massive sulphides as vein
infill with associated sulphide replacement of adjacent marbles; increasing vein
widths up to 2 m (core width) and a new mineralized vein structure at the
diorite/marble contact.
Visual results from Hole SD-08-33 suggest continued improvement in the
mineralized system at depth with strong vertical continuity of the main veins,
increasing skarn alteration and contact metamorphic effects; and potential for
more extensive replacement sulphide zones at even greater depth along the
diorite contacts.
Assay results and visual observations from the most recent drill holes point to
the need to conduct deeper drilling. The actual drill rig utilized to complete
Phase 3 drilling not being adequate to perform deep holes, the joint-venture has
decided to end the Phase 3 program after Hole SD-08-33. A minimum 5,000 metre
follow-up Phase 4 program utilizing a more proficient drill will be undertaken
shortly. In the interim, the joint-venture partners will review and integrate
Phase 3 results in a 3-D MineSight model to efficiently structure and develop
the deeper Phase 4 program. Assay results from the remaining Phase 3 program
will be released when available.
Quality Control:
The drilling program is supervised by Ms. Kateri Marchand, P.Geo. and Qualified
Person under National Instrument 43-101 guidelines and she has confirmed all
disclosures in this release. Details of the QA/QC program followed at San Diego
are available in previous press releases. Analyses were performed by ALS Chemex
accredited assay laboratories of Guadalajara (Mexico) and Vancouver (Canada) as
well as non-certified ERSA laboratory of Torreon, Coahuila.
Conversion factors used to convert to silver equivalents are shown at bottom of
Table 1 and 2. Readers are cautioned that until a pre-feasibility study is
completed, there are no assurances that these mineralized zones will be
economically viable.
ECU Silver Mining Inc. is focused on the exploration, development and mining of
gold, silver and base metals at its Velardena District Properties in Durango,
Mexico. The area includes five historical mines - Santa Juana, Terneras, San
Mateo, San Juanes, and the San Diego mine. ECU is defining the "Mineralized
Corridor" at Santa Juana and also further defining several higher grade narrow
veins within the area. ECU's mission is to become a pre-eminent silver producer
through the development of existing, and additional potential resources at
Velardena.
Golden Tag Resources Ltd. is a junior exploration company actively exploring for
high grade gold and silver deposits at the San Diego silver-lead-zinc project in
Durango State, Mexico; the Aquilon gold project in James Bay, Quebec; and the
McCuaig gold project in Red Lake, Ontario.
Golden Tag is a member of the Agoracom Investor Relations group at
www.agoracom.com/IR/goldentag. To be added to the investor e-mail list, please
send to gog@agoracom.com.
Statements in the release that are "forward-looking statements" are based on
current expectations and assumptions that are subject to risks and
uncertainties. Actual results could differ materially. We undertake no duty to
update any forward-looking statement to conform the statements to actual results
or changes in our expectations.
SAN DIEGO JOINT-VENTURE PROJECT, DURANGO, MEXICO
TABLE 1. RESULTS FROM THE-2007-2008 DRILL PROGRAM
------------------------------------------------------------------------
HOLE SD-08-26 From To Length Au Ag Pb Zn Ag+Ag
(m) (m) (m) (g/t) (g/t) % % Equiv.
------------------------------------------------------------------------
Montanez 61.05 62.30 1.25 0.218 1,786 6.38 4.33 2,091
------------------------------------------------------------------------
Ag Stringer Zone 229.75 238.75 9.00 0.065 243 2.90 1.09 355
includes:
------------------------------------------------------------------------
Cantarranas(2) 229.75 230.50 0.75 0.212 1,365 21.40 6.90 2,150
------------------------------------------------------------------------
Cantarranas(1) 237.60 238.15 0.55 0.154 1,060 14.95 3.85 1,578
------------------------------------------------------------------------
------------------------------------------------------------------------
HOLE SD-07-23 From To Length Au Ag Pb Zn Ag+Ag
(m) (m) (m) (g/t) (g/t) % % Equiv.
------------------------------------------------------------------------
Canta-Splay 126.66 127.34 0.68 0.259 620 1.73 0.46 620
------------------------------------------------------------------------
El Jal 255.61 255.83 0.22 0.176 933 5.84 1.74 1,143
------------------------------------------------------------------------
TABLE 2: ASSAY RESULTS FROM THE PROVENIR VEIN
---------------------------------------------------------------
Porvenir True Width Au Ag Pb Zn Ag+Ag
Main Vein (m) (g/t) (g/t) % % Equiv.
---------------------------------------------------------------
0.35 0.90 95 1.40 1.25
------------------------------------------------------
0.35 0.80 214 1.01 0.75
------------------------------------------------------
0.12 1.00 2,012 29.88 4.30
------------------------------------------------------
0.40 1.10 178 2.74 2.08
------------------------------------------------------
Average 0.31 0.947 345 4.53 1.68 345
---------------------------------------------------------------
Notes: (1) Silver Equivalents
Silver Equivalents were calculated using the same commodity prices and metal
recovery factors used in the San Diego 43-101 Resource Estimate Report: 26.60
g/t Ag per 1% Pb, 31.21 g/t Ag per 1% Zn. Recovery factors were 76% for silver,
71% for gold, 75% for lead and 44% for Zn. Commodity prices of US$11.60/oz for
silver,US$0.60/lb for lead and US$1.20lb for zinc were used.
Gold content was not taken into account in the silver equivalent calculation.
Lead and Zinc values were also not included in the silver equivalent calculation
for the Canta-Splay and Porvenir oxide Veins.
(2) True Widths
The true widths of the reported intersections are 80 to 85% for both Montanez
and El Jal Veins; 35% for Canta-Splay Vein; 60% for Cantarranas Vein.
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