Ucore Uranium Inc. by 43-101 Status, Undefined Market Cap, Producing Status, Project Status, Drill Program Status
BacTech Mining Corporation by 43-101 Status, Undefined Market Cap, Producing Status, Resource Types, Drill Program Status
Midlands Minerals Corporation by Undefined Market Cap
Interests are properties owned or managed by the company.
Projects define work being performed on an Interest.
A Company may control many Interests and each Interest may contain many Projects.
Interests
Cerro Jumil in Morelos State, Mexico
Projects
Cerro Jumil
Exploration (pre 43-101)
Is Producing?
No
Is NI 43-101 compliant?
Yes
Currently planning drilling program
Esperanza is committed to continue drilling as long as the two zones are open. An initial resource estimate is anticipated in 2008.
0
Expansion Drilling Will Lead to 2008 Resource Estimate Drilling planned for the first half of 2008 is designed with three objectives:
The first objective will be to expand the Southeast Zone northward. Geophysical studies indicate potential to double the size of this zone and the initial drill holes have yielded significant gold mineralization.
The second and third priorities are to determine if the West and Southeast Zones connect, and to extend the West Zone to the north.
Gold
San Luis in Ancash, Peru
Projects
San Luis
Mineral Resource - Measured
Is Producing?
No
Is NI 43-101 compliant?
Yes
Started drilling program
Aggressive drill campaign on completion of permitting will continue in 2008
0
April 9 (Bloomberg) -- Esperanza Silver Corp., a Canadian minerals exploration company, plans to start producing silver and gold at mines in Peru and Mexico by 2011. The next steps for Vancouver-based Esperanza will be to finish feasibility studies at the San Luis deposit in Peru this year, and at Cerro Jumil in Mexico in 2009, President William Pincus said yesterday in a Bloomberg Television interview. “San Luis will start producing first as it will be a more profitable mine,'' Pincus said, in comments from New York. “It's a high-grade discovery.” Gold and silver have had annual gains since 2000 and rallied this year as a weaker dollar and rising oil costs boosted the appeal of the precious metals as inflation hedges. Industrial demand also has grown, said Pincus, who has worked in the mining industry for 32 years. San Luis may produce as much as 100,000 ounces of gold and 2 million ounces of silver a year, while Cerro Jumil may yield as much as 150,000 ounces of gold, Pincus said. Each mine could cost between $50 million and $100 million to build, he said.
Esperanza plans to spend $8 million on exploration this year, similar to 2007, Pincus said. He said partner Silver Standard Resources Inc. is helping to finance development of the San Luis project. Silver Standard reported last month that it spent C$8.2 million ($7.85 million) on exploration at San Luis in 2007. The company, also based in Vancouver, said in November that it planned to increase its stake in San Luis to 70 percent from 55 percent by paying to complete the feasibility study.
Mining in Peru
Peru, the world's largest silver producer and No. 5 in gold, is counting on $13 billion in mining investments to help drive economic growth of 7 percent in each of the next four years. Gold futures for June delivery advanced $11.30, or 1.2 percent, to $929.30 an ounce at 11:13 a.m. on the New York Mercantile Exchange's Comex division. The metal, up 31 percent last year, reached a record $1,033.90 an ounce on March 17. Silver futures for May delivery rose 56.7 cents, or 3.2 percent, to $18.275 an ounce in New York. The price jumped 19 percent this year before today, after rising 15 percent in 2007.
“We're seeing an upward tendency for prices,” Pincus said. “With the lack of confidence in the dollar, there's a real possibility we'll see prices far above what we're seeing right now.” Esperanza was unchanged today after declining 3 cents, or 2.3 percent, to C$1.26 yesterday in Toronto Stock Exchange trading. Silver Standard gained 48 cents, or 1.6 percent, to C$31.25 at 11:14 a.m. in Toronto.
Vancouver, B.C., March 3, 2008: Esperanza Silver Corporation (TSX.V:EPZ) is pleased to provide this update on its 100%-owned Cerro Jumil gold project in Mexico where drilling continues to expand the potential resource.Highlights include:
Extended the Southeast Zone 100 meters down dip to the east and have confirmed continuity within the zone.
Discovered the potential new Cerro Calabaza West gold zone approximately 300 meters to the northwest of the central Southeast Zone.
Ongoing Drilling Confirms Continuity and Expands Southeast Zone
The assay results from 20 new drill holes have confirmed gold continuity within the central portion of the Southeast Zone. The new drilling also demonstrates that gold mineralization continues down dip to the east.
Drill holes RCHE-07-66 and 67 intercepted broad zones of gold mineralization (78.0 meters averaging 0.84 g/t gold and 163.5 meters averaging 0.87 g/t gold respectively). This extends the gold mineralization within the central portion of the Southeast Zone an additional 100 meters to the east.
Results from the drill holes are summarized below.
Cerro Jumil Drill Results
Mar-08
Hole
From
To
Interval
Gold Grade
(m)
(m)(m)
(g/t)
DHE-07-54 †
96.5
106.5
7.0
2.41
and
159.0
187.5
28.5
1.87
RCHE-07-63
37.5
124.5
87.0
0.80
includes
58.5
78.0
19.5
1.36
RCHE-07-64A
69.0
120.0
51.0
1.44
RCHE-07-65†
45.0
85.5
33.0
1.61
and
127.5
141.0
13.5
0.77
RCHE-07-66†
78.0
159.0
78.0
0.84
includes†
78.0
124.5
43.5
1.14
RCHE-07-67†
88.5
268.5
163.5
0.87
includes
180.0
213.0
33.0
1.58
RCHE-07-68†
166.5
184.5
16.5
1.46
RCHE-07-69†
145.5
174.0
25.5
0.79
RCHE-07-70
183.0
204.0
21.0
0.59
RCHE-07-71
118.5
135.0
16.5
0.80
RCHE-07-72
18.0
69.0
51.0
0.69
includes
24.0
39.0
15.0
1.13
RCHE-07-73†
19.5
102.0
67.5
0.09
RCHE-07-74†
106.5
112.5
6.0
0.99
and
247.5
258.0
9.0
0.59
RCHE-07-75
60.0
76.5
16.5
0.84
RCHE-07-76
82.5
163.5
79.5
1.04
includes
87.0
127.5
40.5
1.48
RCHE-07-77
No significant intervals
RCHE-08-79*
31.5
70.5
39.0
1.73
includes
54.0
69.0
15.0
3.74
and
100.5
145.5
45.0
0.72
includes
106.5
124.5
18.0
1.21
RCHE-08-80**
57.0
93.0
36.0
2.53
and
123.0
177.0
54.0
0.73
RCHE-08-82†
37.5
91.5
33.0
0.38
RCHE-08-83
168.0
187.5
19.5
0.42
* Includes a 1.5 meter interval containing 43.5 g/t gold which was cut to 10 g/t
** Includes two 1.5 meter intervals containing 20.6 g/t gold and 10.2 g/t which were cut to 10 g/t
† Drill intercepts with no core or chip recovery were not included in the calculation of the interval length.
Cerro Las Calabazas West – Possible New Gold Zone
Drill hole DHE-07-54 was a step-out hole in an area known as Cerro Las Calabazas West. This area is approximately 200 to 400 meters northwest of the central Southeast Zone. It intercepted two stacked intervals of gold mineralization. The first intercept averaged 2.41 g/t gold over a width of 7.0 meters. The second intercept averaged 1.87 g/t gold over 28.5 meters and contained a 1.5 meter interval with 10.7 g/t. Three additional diamond core holes have been completed with assay results pending; and a further six holes are planned.
Bill Pincus, Esperanza's President and CEO said, "The discovery of the potential new zone, Cerro Las Calabazas West, is very encouraging and could have a significant impact in expanding the resource at Cerro Jumil. We're awaiting assay results from other completed drilling in this area which will give us a clearer idea of the zone's full potential."
72% Heap-Leach Recovery Indicated
As previously announced, an SGS Mineral Services report on simulated heap-leach testing of material from the Southeast Zone indicated a gold recovery rate of 72% on material crushed to a nominal 1 inch size and 73% for ¾ inch material. Further studies are proposed in order to optimize these recoveries.
Esperanza will continue studying heap-leach optimization while also examining the economic viability of conventional milling and processing as an option. Previous testing (non heap-leach) yielded recovery rates between 92% and 95% indicating that conventional processing may be an alternative.
About Esperanza
Esperanza is an emerging company focused on advancing the development of its two principal properties: the San Luis gold and silver joint venture in Peru and the 100%-owned Cerro Jumil gold project in Morelos State, Mexico.It is also actively investigating 17 other exploration interests in Peru and Mexico.
Qualified Person:William Bond, M.Sc., Geol. and Vice President of Exploration, Esperanza Silver Corp. 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 in Vancouver, Canada for analysis.Gold samples were analyzed by fire assay and atomic absorbtion spectroscopy with a 30 g nominal sample weight. A description of quality control and quality assurance protocols can be found at http://www.esperanzasilver.com/s/QA-QC-Protocols.asp.
Vancouver, B.C. - Esperanza Silver Corporation (TSX.V: EPZ) announces that pursuant to its Employee Stock Option Plan that 900,500 incentive stock options at a price of $1.40 and exercisable for a period of up to five years have been granted to certain officers, directors, employees and consultants of the company.
In other news the company announces the resignation of Joseph Ovsenek as Director. Bill Pincus, Esperanza's President and CEO said, "On behalf of the Board of Directors I would like to thank Mr. Ovsenek for his exceptional service to the company and wish him luck in future endeavors."
About Esperanza
Esperanza is an exploration company focused on precious metals and is founded on the experience and success of its management and field teams in discovering ore bodies. Its properties include the San Luis joint-venture project in Peru and the 100%-owned Cerro Jumil bulk-tonnage gold project in Morelos State, Mexico. It is also actively investigating 17 other exploration interests in Peru and Mexico.
The TSX and the TSX Venture Exchange do not accept responsibility for the adequacy or accuracy of this news release.
Vancouver, B.C: Esperanza Silver Corporation (TSX.V:EPZ) is pleased to provide this update on its 100% owned Cerro Jumil project in Mexico. Highlights include:
- The on-going drill program has been expanded as new drilling yields continued positive results.
On-going Drilling Expands Gold Mineralization The recently received analytical results from nine new drill holes have confirmed gold continuity and expanded the central portion of the Southeast zone. The new drilling shows that this mineralization continues down dip to the east. Drill roads and pads are now in place for an additional 12 drill holes to test the continuity of gold further eastward in the core area. Key results from the drill holes are summarized below.
---------------------------------------------------------- Cerro Jumil Drill Results Jan-08 ---------------------------------------------------------- Grade From To Interval (grams Au/ Hole (meters) (meters) Length tonne) ---------------------------------------------------------- ---------------------------------------------------------- RCHE-07-55 61.5 150.0 85.5 1.17 ---------------------------------------------------------- ---------------------------------------------------------- RCHE-07-56(i) 64.5 94.5 30.0 1.34 ---------------------------------------------------------- ---------------------------------------------------------- RCHE-07-57 78.0 126.0 48.0 1.16 ---------------------------------------------------------- RCHE-07-57(ii) 177.0 243.0 55.5 1.71 ---------------------------------------------------------- includes 180.0 195.0 15.0 3.18 ---------------------------------------------------------- ---------------------------------------------------------- RCHE-07-58(ii) 64.5 123.0 39.0 0.93 ---------------------------------------------------------- ---------------------------------------------------------- RCHE-07-59 73.5 103.5 30.0 0.88 ---------------------------------------------------------- ---------------------------------------------------------- RCHE-07-60 40.5 126.0 85.5 1.05 ---------------------------------------------------------- ---------------------------------------------------------- RCHE-07-61 52.5 127.5 75.0 1.08 ---------------------------------------------------------- ---------------------------------------------------------- RCHE-07-62 48.0 87.0 36.0 0.77 ---------------------------------------------------------- ---------------------------------------------------------- DHE-07-52 169.5 195 25.5 1.49 ---------------------------------------------------------- DHE-07-52 269.5 292 22.5 1.24 ---------------------------------------------------------- DHE-07-52 317.5 321.4 3.9 1.67 ---------------------------------------------------------- * includes a 1.5 meter interval containing 58.3 g/t Au which was cut to 10 g/t Au ** drill intercepts with no recovery were not included in the calculation of the interval width.
Drill Program Expanded A full project review conducted in early January has resulted in Esperanza's decision to expand the on-going drill program. This was based on three primary factors. The first is the continued positive results and expansion of gold mineralization in the central Southeast zone. The second is the possibility of expanding this zone in a northerly direction. Drill pads are in place and up to 10 new holes are planned. Success in this direction has the potential to significantly expand tonnage. Finally, current drilling is testing the southern extension of the west zone. The attached map illustrates the areas for future drilling.
In anticipation of an initial resource estimate Esperanza has contracted Dean Turner of Exploration Geotechnologies Inc. to act as the independent qualified person in accordance with National Instrument 43-101. Mr. Turner has begun his review of Esperanza's sampling and data collection procedures and will begin working with Esperanza geologists on the determination of the best deposit modeling parameters. A resource will be estimated upon the completion of the drill program described above and receipt of all analytical results.
About Esperanza Esperanza is an exploration company focused on precious metals and is founded on the experience and success of its management and field teams in discovering ore bodies. Its properties include the San Luis gold and silver joint venture in Peru and the 100%-owned Cerro Jumil gold project in Morelos State, Mexico. It is also actively investigating 17 other exploration interests in Peru and Mexico.
QUALIFIED PERSON: William Bond, M.Sc., Geol. and Vice President of Exploration, Esperanza Silver Corp. is the Qualified Person (QP) under NI 43-101 responsible for the Cerro Jumil exploration program. He has verified the drill 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 in Vancouver, Canada for analysis. Gold samples were analyzed by fire assay and atomic absorbtion spectroscopy with a 30 g nominal sample weight. A description of quality control and quality assurance protocols can be found at .
SAFE HARBOR: Some statements in this release are forward-looking in nature. The United States Private Securities Litigation Reform Act of 1995 provides a "safe harbor" 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 managements' 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.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
Infill and expansion drilling continues on the property where a third drill was added to the program in early December. Two diamond-drill rigs and one reverse-circulation rig are now on site. Drilling is largely concentrated in the eastern mineralized portion of the property called the Southeast Zone. The new results demonstrate good continuity of gold mineralization within this zone. Future drilling will continue to move east and northeast to test its limits.
(i) Note - Sample intervals with no recovery were not included in the calculation of the interval width.
72% Heap-Leach Recovery Indicated
SGS Mineral Services' recent report that simulated heap-leach testing of drill-core material from the Southeast zone indicates a recovery of 72% on material crushed to a nominal 1 inch size and 73% for ¾ inch material. Further studies are proposed in order to optimize these recovery rates.
Two 50 kilogram columns were prepared using the nominal 1 inch and ¾ inch crush sizes. Fine material (-10 mesh) was agglomerated using lime and cement and added to the columns. Heap-leach solutions percolated through the column for 61 days.
Esperanza will continue studying heap-leach optimization while also examining the economic viability of conventional milling and processing as an option. Previous testing (non heap-leach) yielded recovery rates between 92% and 95% indicating that conventional processing may be an alternative.
2008 Work Program
Bill Pincus, Esperanza's President and CEO, commenting on the results said, "The on-going drill program is yielding excellent results. The drill intercepts can be favorably compared with many of the newer discoveries in Mexico. The new heap-leach test results support our earlier impression that this low cost recovery method is a viable alternative for the development of Cerro Jumil although further study is required to make the best choice."
He added, "During 2008 we will continue drilling to extend the known mineralization as well as to test new targets. We will also optimize the metallurgical test work and begin other engineering studies to move the project toward an initial feasibility study. Our first major feasibility objective is to complete an initial resource estimate in the first half of 2008."
About Esperanza
Esperanza is an exploration company focused on precious metals and is founded on the experience and success of its management and field teams in discovering ore bodies. Its properties include the San Luis gold and silver joint venture in Peru and the 100%-owned Cerro Jumil gold project in Morelos State, Mexico. It is also actively investigating 17 other exploration interests in Peru and Mexico.
QUALIFIED PERSON: William Bond, M.Sc., Geol. and Vice President of Exploration, Esperanza Silver Corp. is the Qualified Person (QP) under NI 43-101 responsible for the Cerro Jumil exploration program. He has verified the drill 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 in Vancouver, Canada for analysis. Gold samples were analyzed by fire assay and atomic absorbtion spectroscopy with a 30 g nominal sample weight. A description of quality control and quality assurance protocols can be found at http://www.esperanzasilver.com/s/QA-QC-Protocols.asp.
SAFE HARBOR: Some statements in this release are forward-looking in nature. The United States Private Securities Litigation Reform Act of 1995 provides a "safe harbor" 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.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
VANCOUVER, BRITISH COLUMBIA, Nov 15, 2007 (Marketwire via COMTEX News Network) -- Silver Standard Resources Inc. (NASDAQ:SSRI)(TSX:SSO) and Esperanza Silver Corporation (TSX VENTURE:EPZ)(PINK SHEETS:ESPZF) today reported that Silver Standard has delivered an initial resource estimate for the Ayelen Vein on the companies' joint venture property in Peru. Ayelen is one of numerous veins found to date on the property.
In addition, the companies report the discovery of significant porphyry-style base metal mineralization six kilometers southeast of the Ayelen Vein.
Resources were estimated in a block model (3 meter by 3 meter by 3 meter) and tabulated using an inverse distance squared algorithm with a silver cut-off grade of 40 grams per tonne. The database contained 900 individual samples which were combined into 876 one-meter composites. It was prepared by Doug Blanchflower, P.Geo., an independent qualified person, as defined by Canada's National Instrument 43-101.
Underground Exploration Program Being Permitted
Silver Standard, as joint venture operator, is in the final stages of preparing an application for permits to begin an underground exploration program targeting the Ayelen Vein, including further drilling. This underground work will determine the continuity of precious metal mineralization and form the basis of an updated resource and feasibility study.
Exploring for Other High-Grade Structures
Exploration continues on other known quartz veins in the vicinity of Ayelen to identify additional highgrade structures. This work will consist of prospecting, geological mapping and geophysical studies followed by drilling. Recent field work has identified several other vein structures on the 25,000-hectare property. These will be systematically sampled and, if warranted, drilled in the coming field campaign starting in 2008.
Early Feasibility Study Planned
Silver Standard has announced that a feasibility study for the development of Ayelen is expected to begin in early 2008. Preliminary metallurgical test work using conventional hydrometallurgical processing has yielded recoveries of 90% for gold and 80% for silver. Additional studies are underway to optimize recovery rates.
BP Zone - A New Base Metal Discovery
As a result of ongoing property-wide exploration, the joint venture earlier this year identified a large alteration zone covering 12 square kilometers, now called the BP Zone. This area lies approximately six kilometers southeast of the Ayelen Vein (see attached map). It is contained within the joint venture property and represents a separate area of mineralization distinct from the Ayelen area of known epithermal vein mineralization.
The BP Zone was originally recognized through alteration mapping and stream sediment geochemistry. A follow-up program identified large areas where surface grab samples yielded significant base metal (up to 2.2% copper and 11% zinc) and precious metal anomalies. The program was followed by a detailed geophysical study over the area which yielded numerous other anomalies.
The area is characterized by mineralized hydrothermal breccias with identified outcrop dimensions of approximately 250 by 450 meters. The breccia contains pervasively altered fragments of volcanic rock with a sulfide bearing matrix. The rock chip sampling determined areas of distinct, yet overlapping, copper, zinc and lead mineralization within this zone. Anomalous silver and gold was also found.
Drilling Encounters Porphyry-Style Mineralization
At the end of this year's drill program, four diamond drill holes tested a number of geophysical anomalies that are coincident with the BP Zone. Noteworthy results include:
Drill hole SL-131 was drilled within the outcrop area of hydrothermal breccia and from surface encountered 45 meters containing 0.53% copper, 62.7 grams per tonne silver, 0.02 grams per tonne gold, 0.11% lead and 0.10% zinc.
Drill hole SL-130 was drilled approximately 300 meters northwest of the outcropping breccias and was designed to test a geophysical anomaly. This hole encountered a 54-meter section of hydrothermal breccia containing 0.11% copper and anomalous silver, gold, lead and zinc. This intersection possibly expands the area of the known mineralized breccia or indicates the presence of multiple breccia bodies.
Drill holes SL-132 and SL-133 were drilled west and southwest respectively of the outcropping breccia and were designed to test additional geophysical anomalies. Although there was porphyry-style alteration they did not yield significant metal values.
Aggressive Drill Program in 2008
Extensive rock alteration and the hydrothermal breccias, as found both at surface and in the drill holes in the BP Zone, are indicative of a porphyry-style environment and potential associated mineralization. Silver Standard is finalizing drill permits to allow full access to the BP Zone and is planning an aggressive drill campaign on completion of permitting.
Joint Venture Interests
Silver Standard holds a 55% interest in the San Luis joint venture and Esperanza holds 45%. Silver Standard has elected to increase its interest in the joint venture
Cerro Jumil in Morelos State, Mexico
