Esperanza Reports Cerro Jumil Drill Results
April 30 2012 - 7:00AM
Marketwired Canada
Esperanza Resources Corp. (TSX VENTURE:EPZ)(PINKSHEETS:ESPZF) is pleased to
report its most recent drill results at its Cerro Jumil gold project in Morelos,
Mexico. The current drill holes are in-fill and have increased confidence in the
resource by upgrading previously reported inferred and indicated resources.
Highlights of the drill results are:
-- Drill Hole DHE-12-74 intersected 25.5 meters containing 1.65 grams of
gold per tonne.
-- Drill Hole DHE-12-77 intersected two separate intervals with 31.5 meters
containing 2.8 grams gold per tonne and another interval of 39.0 meters
containing 0.7 grams gold per tonne.
-- Drill Hole DHE-12-81 intersected 45.0 meters containing 1.9 grams of
gold per tonne.
-- Drill Hole DHE-12-90 intersected two separate intervals with 27.0 meters
containing 1.1 grams of gold per tonne and another interval with 121.5
meters containing 1.1 grams gold per tonne.
Complete results are in the accompanying table and drill hole locations are
shown on the accompanying map (to view click on:
http://media3.marketwire.com/docs/epz430.pdf). A detailed drill hole plan map
can be found on the Company's website (to view click on:
http://www.epzresources.com/cerrojumil_drillholelocationsdetail.php).
Current activities at the Cerro Jumil project include on-going drilling,
geotechnical field investigation including site analysis for proposed
infrastructure and leach pad areas and oriented core drilling to establish pit
wall stability.
Metallurgical Sampling Shipped
Esperanza, together with its metallurgical consultants Lyntek Inc. and
McClelland Labs Inc. has designed a feasibility-level test program. The Company
has now shipped approximately 75 tonnes of metallurgical samples which includes
bulk-sampling from five surface locations, large diameter core from various
locations and depths of the deposit and numerous reverse-circulation drill
cuttings for bottle-roll testing. In addition to the bottle-roll tests the
Company will build columns from at least five bulk-surface samples and six
large-diameter core samples. All samples have been shipped to McClelland
laboratories in Sparks, Nevada for testing. The Company does not anticipate
final test results until late in the third quarter.
About Esperanza
Esperanza is focused on advancing the development of its principal property, the
wholly-owned Cerro Jumil gold project in Morelos State, Mexico. It is also
actively investigating 11 other exploration interests in Peru and Mexico. In
October of 2010 it announced a strategic investment which resulted in a 27%
interest in Global Minerals Ltd. (TSX VENTURE:CTG), owner of the Strieborna
silver/copper project in Roznava, Slovakia.
QUALIFIED PERSON: William Bond, CPG and Vice-President, Esperanza Resources is
the Qualified Person (QP) under NI 43-101 responsible for the Cerro Jumil
exploration program. He has verified the drill results and other data disclosed
in this news release, including sampling, analytical and test data. Field work
has been conducted under his supervision. All samples were submitted to ALS
Chemex laboratories for analysis in Vancouver, Canada. Gold samples were
analyzed by fire assay and atomic absorption spectroscopy with a 30 g nominal
sample weight. Silver is analyzed by induction coupled plasma - atomic emission
spectroscopy (ICP-AES). A description of quality control and quality assurance
protocols can be found at http://www.epzresources.com/protocols.php.
SAFE HARBOUR: Some statements in this release are forward-looking in nature. The
United States Private Securities Litigation Reform Act of 1995 provides a "safe
harbour" for certain forward-looking statements. Such statements include
statements as to the potential of the Cerro Jumil property, the ability to
finance further exploration, permit drilling and other exploration work, and the
availability of drill rigs.
The forward-looking statements involve risks and uncertainties and other factors
that could cause actual results to differ materially, including those relating
to exploration and bringing properties into production. Please refer to a
discussion of some of these and other risk factors in Esperanza's Form 20-F
filed with the U.S. Securities and Exchange Commission. The forward-looking
statements contained in this document constitute management's current estimates
as of the date of this release with respect to the matters covered herein.
Esperanza expects that these forward-looking statements will change as new
information is received and that actual results will vary, possibly in material
ways. Forward-looking statements are based on the beliefs, expectations and
opinions of management on the date the statements are made, and the company does
not assume any obligation to update forward-looking statements if circumstances
or management's beliefs, expectations or opinions should change. For these
reasons, investors should not place undue reliance on forward-looking
statements.
This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States of America. The
securities have not been and will not be registered under the United States
Securities Act of 1933 (the "U.S. Securities Act") or any state securities laws
and may not be offered or sold within the United States or to U.S. Persons (as
defined in the U.S. Securities Act) unless registered under the U.S. Securities
Act and applicable state securities laws, or an exemption from such registration
is available.
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Cerro Jumil Drill Results
April 30, 2012
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Grade
From To Interval (grams
Drill Hole (meters) (meters) (meters) gold/tonne)
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DHE-12-75 85.5 109.5 24.0 0.99
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DHE-12-75 123.0 165.0 42.0 1.05
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DHE-12-76 126.0 130.5 4.5 0.72
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DHE-12-77 33.0 64.5 31.5 2.83
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DHE-12-77 73.5 115.5 39.0 0.72
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DHE-12-78 43.5 61.5 18.0 2.18
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DHE-12-78 73.5 94.5 21.0 1.01
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DHE-12-79 165.0 184.5 19.5 0.59
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DHE-12-79 279.0 289.5 10.5 1.44
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DHE-12-79 327.0 339.6 12.6 0.70
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DHE-12-80 19.5 45.0 25.5 0.86
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DHE-12-81 93.0 138.0 45.0 1.94
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includes 97.5 111.0 13.5 3.34
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DHE-12-82 12.0 69.0 57.0 0.43
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DHE-12-82 79.5 94.5 15.0 0.55
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DHE-12-83 75.0 94.5 19.5 0.90
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includes 85.5 94.5 9.0 1.59
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DHE-12-84 174.0 183.0 9.0 1.05
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DHE-12-84 217.5 223.5 6.0 1.64
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DHE-12-85 Results Pending
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DHE-12-86 Results Pending
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DHE-12-87 54.0 60.0 6.0 0.64
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DHE-12-88 15.0 91.5 76.5 0.53
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DHE-12-89 111.0 144.0 33.0 0.82
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DHE-12-90 18.0 45.0 27.0 1.09
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includes 19.5 31.5 12.0 1.93
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DHE-12-90 99.0 220.5 121.5 1.05
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DHE-12-91 130.5 162.0 31.5 0.30
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DHE-12-92 10.5 81.0 70.5 0.62
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DHE-12-92 102.0 126.0 24.0 0.62
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DHE-12-93 No significant intervals
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DHE-12-94 43.5 61.5 18.0 0.33
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DHE-12-94 69.0 91.5 22.5 0.87
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DHE-12-95 111.0 133.5 22.5 0.65
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RCHE-11-238 141.0 156.0 15.0 0.36
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RCHE-11-239 No significant intervals
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