Western Silver Discovers New Mineralized Zone at Penasquito; Results Further Enhance Property as a District-Scale Silver-Gold-Lead-Zinc Mineral System.Business Editors VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , British Columbia--(BUSINESS WIRE)--Jan. 26, 2004 Western Silver Corporation today announced the discovery of a new mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. zone, El Chamisal Cha`mi`sal´ n. 1. (Bot.) A California rosaceous shrub (Adenostoma fasciculatum) which often forms an impenetrable chaparral. 2. A chaparral formed by dense growths of this shrub. , at its wholly-owned Penasquito silver, gold, zinc zinc, metallic chemical element; symbol Zn; at. no. 30; at. wt. 65.38; m.p. 419.58°C;; b.p. 907°C;; sp. gr. 7.133 at 25°C;; valence +2. Zinc is a lustrous bluish-white metal. It is found in Group 12 of the periodic table. and lead property in central Mexico. This new discovery is located approximately two kilometers northeast of the property's Chile Colorado zone which has been independently confirmed as one of the largest undeveloped silver deposits in the world. "Today's drill results reinforce our belief that Penasquito is a district-scale mineral system with multiple deposits at different locations on the 147-square mile property," said Western's Mexican Mexican named after or originating in Mexico. Mexican axolotl see ambystomamexicanum. Mexican beaded lizard (Heloderma horridum Exploration Manager, Thomas Turner Thomas Turner can refer to several people:
The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. on the property," he said. The El Chamisal discovery emerged from results of twenty-eight core and eleven shallow reverse circulation (RC) holes drilled at Penasquito during the past three months. The highlights of the drilling program include: -- El Chamisal. Mineralization was intersected in RC holes S-48 and S-49. Hole S-48, a vertical hole, contains 30 meters beginning at 88 meters averaging 0.42 g/t gold, 38 g/t silver, 0.62% lead and 0.76% zinc. Both holes contain narrow higher-grade intervals. The significance and extent of this new mineralized zone will be evaluated by further core drilling. -- Penasco. Eight core and seven RC holes have begun to delineate the extent of this large mineralized zone. Of particular note are holes WC-98 and WC-100 that extend mineralization to the southern boundary of the Outcrop breccia breccia: see conglomerate. breccia Coarse sedimentary rock consisting of angular or nearly angular fragments larger than 0.08 in. (2 mm). Breccia commonly results from processes such as landslides or geologic faulting, in which rocks are fractured. . The Penasco zone, as presently understood, occupies an area extending for 600 meters east-west by 500 meters north-south and is at least 370 meters thick. Mineralization remains open to the east-northeast. -- Chile Colorado. Seventeen core holes totaling 6,795 meters were completed. The objectives of the drilling were to add holes where necessary to complete deposit delineation on 50-meter centers and to identify limits of the mineralized zone. Drilling confirms the continuity of the Chile Colorado deposit, demonstrates that mineralization remains open to the west-northwest and at depth, and defines limits of the zone to the south and southeast. SNC-Lavalin is currently completing a new ore resource calculation which will be incorporated into a pre-feasibility study currently in progress by M3 Engineering & Technology of Tucson Arizona Arizona (âr'əzō`nə), state in the southwestern United States. It is bordered by Utah (N), New Mexico (E), Mexico (S), and, across the Colorado R., Nevada and California (W). . A 40,000 meter drilling program will begin during February to evaluate the Penasco, Azul NE, El Chamisal, El Sotol so·tol n. 1. Any of several tall woody plants of the genus Dasylirion of the southwest United States and adjacent Mexico, having prickly-margined leaves and a large panicle of whitish unisexual flowers. 2. and La Palma La Pal·ma An island of Spain in the northwest Canary Islands. targets. Details of the latest drilling are discussed below. A map with hole locations may be found on Western Silver's website at www.westernsilvercorp.com. Results in detail. El Chamisal. The discovery occurred near the end of the drilling program when three RC holes were drilled across a 300 meter-diameter induced polarization Induced polarization (IP) is a geophysical imaging technique used to identify subsurface materials, such as ore. The method is similar to electrical resistivity tomography, in that an electric current is induced into the subsurface through two electrodes, and voltage is (IP) anomaly Abnormality or deviation. Pronounced "uh-nom-uh-lee," it is a favorite word among computer people when complex systems produce output that is inexplicable. See software conflict and anomaly detection. . Two of the holes, WC-48 and 49, contain significant mineralization in the form of disseminated disseminated /dis·sem·i·nat·ed/ (-sem´i-nat?ed) scattered; distributed over a considerable area. dis·sem·i·nat·ed adj. Spread over a large area of a body, a tissue, or an organ. sulfides and carbonate-sulfide veinlets in milled hydrothermal hydrothermal, hydrothermic relating to the temperature effects of water, as in hot baths. dikes similar to those in the Chile Colorado deposit. The IP anomaly extends eastward for 1,700 meters from the Outcrop breccia, with the strongest parts of the anomaly occurring at Penasco, La Palma and El Chamisal. A series of core holes that parallel the RC holes will be completed during the first quarter, with grid drilling to follow if results remain positive. Penasco. Eight core holes were completed to define the extent of the mineralized system. WC-90 intersected the up dip projection of hole WC-70 mineralization, with the interval from 56-242 meters averaging 0.32 g/t gold, 37 g/t silver, 0.56% lead and 0.89% zinc. Hole WC-92, a vertical hole drilled in the northern part of the zone, intersected a 372 meter zone starting at 178 meters averaging 0.59 g/t gold, 21 g/t silver, 0.20% lead and 0.44% zinc. Six holes were drilled in the southern part of the mineralized zone to define limits to the south, west and east. Holes WC-98 and 100 show that mineralization extends to the southern boundary of the Outcrop breccia. Hole WC-98 contains a 121.9 meter interval beginning at 282 meters that contains 0.75 g/t gold, 33 g/t silver, 0.17% lead and 0.78% zinc. Holes WC-97 and 99 demonstrate continuity between previously drilled holes. Northerly directed holes WC-94 and 96 do not contain significant mineralization and cut off the zone to the west. The zone remains open to the east. Penasco is a large mineralized system occurring in the upper part of an intrusive-hosted breccia. Mineralization rises close to the surface where porphyry Porphyry, Greek scholar Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus. dikes have cut the mineralized breccia, making it particularly attractive for open-pit mine development. Grid drilling on 50-meter centers will begin in February. Chile Colorado. Seventeen new holes have now completed deposit delineation on 50 meter centers and will provide additional data for a new resource estimate by SNC SNC St Norbert College (De Pere, Wisconsin) SNC Sistema Nervioso Central SNC Société en Nom Collectif (French: Partnership) SNC Système Nerveux Central (French: central nervous system) Lavalin. Holes WC-73,74,75,77,81 and 91 were south directed angle di·rect·ed angle n. An angle having an indicated positive sense. holes drilled in the northwestern part of the deposit to confirm continuity of mineralization. All holes intersected thick mineralized intercepts, including the most westerly Westerly, town (1990 pop. 21,605), Washington co., extreme SW R.I., between the Pawcatuck River and Block Island Sound; inc. 1669. Its textile industry dates from 1814, and granite has been quarried there since c.1850. hole, WC-91. Hole WC-91 demonstrates that mineralization remains open to the west-northwest and it is possible that drilling north of WC-91 may intersect In a relational database, to match two files and produce a third file with records that are common in both. For example, intersecting an American file and a programmer file would yield American programmers. the zone at shallower levels. Hole WC-83, drilled from north to south in the same area, also intersected a thick zone of low grade mineralization. Five holes were drilled in the southwestern part of the deposit. Holes WC-79, 82 and 84 were south directed angle holes positioned to determine the southward south·ward adv. & adj. Toward, to, or in the south. n. A southward direction, point, or region. south extent of mineralization. Each of these holes hit the top of the mineralized zone before passing into unaltered rock, accounting for the narrower widths of mineralization. Hole WC-87 was drilled from south to north into the center of the mineralized zone and intersected a 214 meter interval beginning at 266 meters that averages 0.72 g/t gold, 50 g/t silver, 0.31 % lead and 1.37% zinc. Six holes (WC- 78,80,85,86,88 and 89) were drilled in the southeastern sector in an area of sparse sparse - A sparse matrix (or vector, or array) is one in which most of the elements are zero. If storage space is more important than access speed, it may be preferable to store a sparse matrix as a list of (index, value) pairs or use some kind of hash scheme or associative memory. drill coverage. Each hole intersected narrow intervals of low-grade low-grade Of or relating to debt that has a credit rating of B or below. Low-grade debt offers an above-average yield but entails substantial risk because promised payments may not be made in a timely manner. mineralization. These holes appear to have been drilled on the southeast side of a northeasterly-trending fault zone that juxtaposes higher grade and thicker zones of mineralization on the northwest with narrower, lower grade intervals of mineralization on the southeast. Hole WC-76, drilled to test for a possible extension of Chile Colorado to the south, did not intersect significant mineralization. Azul NE/Azul Breccia. Hole WC-95 intersected over 100 meters of Chile Colorado-style mineralization along the northeast margin of the Azul breccia. This zone has now been delineated de·lin·e·ate tr.v. de·lin·e·at·ed, de·lin·e·at·ing, de·lin·e·ates 1. To draw or trace the outline of; sketch out. 2. To represent pictorially; depict. 3. in drill holes for a distance of at least 300 meters. A high grade interval beginning at 202 meters contains 18 meters averaging 0.43 g/t gold, 252 g/t silver, 1.52% lead, 2.92 % zinc and 0.53% copper that may correlate with a similar zone intersected in hole WC-38 approximately 300 meters to the east-southeast. Hole WC-93, a vertical hole drilled within the Azul breccia, intersected 86 meters of low-grade mineralization beginning at a depth of 152 meters. Dr.Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM). The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs Patton is the qualified person responsible for the preparation of this release. Western Silver Corporation is a publicly-traded mineral exploration company focused on discovering and developing silver properties in the Americas. The Company's primary project, the 100%-owned Penasquito property in central Mexico, is emerging as a silver-gold-lead-zinc district with significant exploration upside Upside The potential dollar amount by which the market or a stock could rise. Notes: This is basically an educated guess on how high a stock could go in the near future. See also: Bull, Downside . The Chile Colorado Zone at Penasquito has been independently confirmed as one of the largest undeveloped silver deposits in the world and is economic at the low metal prices existing in second quarter 2003. Western Silver also has an interest in the world class San Nicolas San Nicolas or San Nicolás ("Saint Nicholas") may refer to:
Cominco started in 1906 as The Consolidated Mining and Smelting Company of Canada, formed by the amalgamation of several and owns the Carmacks Copper Project in the Yukon. The Company, which is internationally recognized for its technical ability, is listed on the American (AMEX AMEX See: American Stock Exchange :WTZ WTZ wissenschaftlich technologische zusammenarbeit (German) WTZ World Time Zone ) and Toronto (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :WTC WTC World Trade Center, see there ) stock exchanges. On behalf of the board, F. Dale Corman, Chairman and C.E.O. Statements contained in this news release that are not historical facts are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as that term is defined in the private securities litigation reform act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filings with the Securities and Exchange Commission
---------------------------------------------------------------------
Hole Interval Au Ag Pb Zn Cu
From - To (m) (ft) (g/t)(g/t) % % %
---------------------------------------------------------------------
EL
CHAMISAL
---------------------------------------------------------------------
S-48 88.00 - 118.00 30.00 98.4 0.42 38 0.62 0.76
---------------------------------------------------------------------
Includes 92.00 - 100.00 8.00 26.2 0.96 100 1.73 2.33
---------------------------------------------------------------------
---------------------------------------------------------------------
S-49 110.00 - 116.00 6.00 19.7 0.73 55 1.18 2.62
---------------------------------------------------------------------
Includes 112.00 - 114.00 2.00 6.6 1.69 109 2.33 5.04
---------------------------------------------------------------------
---------------------------------------------------------------------
PENASCO
---------------------------------------------------------------------
---------------------------------------------------------------------
S-52 68.00 - 98.00 30.00 98.4 0.14 31 0.32 0.40
---------------------------------------------------------------------
---------------------------------------------------------------------
S-54 94.00 - 98.00 4.00 13.1 0.26 40 0.51 0.88
---------------------------------------------------------------------
---------------------------------------------------------------------
S-56 96.00 - 100.00 4.00 13.1 0.42 337 0.16 0.21
---------------------------------------------------------------------
---------------------------------------------------------------------
WC-90 42.00 - 56.00(1) 14.00 45.9 0.28 71 0.48 0.90
---------------------------------------------------------------------
56.00 - 242.00 186.00 610.1 0.32 37 0.56 0.89
---------------------------------------------------------------------
444.00 - 520.00 76.00 249.3 0.73 58 0.49 1.70
---------------------------------------------------------------------
---------------------------------------------------------------------
WC-92 48.00 - 56.00(1) 8.00 26.2 0.42 45 0.42 0.37
---------------------------------------------------------------------
86.00 - 98.00 12.00 39.4 0.96 116 0.56 0.25
---------------------------------------------------------------------
178.00 - 550.16 372.16 1220.7 0.59 21 0.20 0.44
---------------------------------------------------------------------
Includes 344.00 - 376.00 32 105.0 2.05 65 0.55 0.71
---------------------------------------------------------------------
Includes 472.00 - 504.00 32 105.0 2.70 31 0.19 0.63
---------------------------------------------------------------------
---------------------------------------------------------------------
WC-97 156.00 - 348.00 192.00 629.8 0.42 24 0.47 1.07
---------------------------------------------------------------------
Includes 258.00 - 308.00 50.00 164 0.68 39 1.05 2.18
---------------------------------------------------------------------
---------------------------------------------------------------------
WC-98 86.00 - 110.00 24.00 78.7 0.32 13 0.35 0.38
---------------------------------------------------------------------
184.00 - 226.00 42.00 137.8 0.13 31 0.33 0.47
---------------------------------------------------------------------
282.00 - 403.86 121.86 399.7 0.75 33 0.17 0.78
---------------------------------------------------------------------
Includes 318.00 - 380.00 62.00 203.4 1.24 48 0.18 0.17
---------------------------------------------------------------------
---------------------------------------------------------------------
WC-99 54.00 - 252.00 198.00 649.4 0.51 33 0.54 1.19
---------------------------------------------------------------------
310.00 - 378.00 68.00 223.0 0.74 75 0.23 1.05
---------------------------------------------------------------------
420.00 - 504.00 84.00 275.5 0.46 37 0.10 0.37
---------------------------------------------------------------------
---------------------------------------------------------------------
WC-100 56.00 - 148.00(1) 92.00 301.8 0.17 37 0.29 0.27
---------------------------------------------------------------------
148.00 - 258.00 110.00 360.8 0.48 39 0.20 0.57
---------------------------------------------------------------------
Includes 148.00 - 188.00 40.00 131.2 0.80 54 0.37 1.02
---------------------------------------------------------------------
---------------------------------------------------------------------
---------------------------------------------------------------------
AZUL/AZUL NE
---------------------------------------------------------------------
WC-93 152.00 - 238.00 86.00 282.1 0.22 27 0.08 0.50
---------------------------------------------------------------------
---------------------------------------------------------------------
WC-95 86.00 - 138.00(1) 52.00 170.6 0.15 18 0.22 0.27
---------------------------------------------------------------------
138.00 - 254.00 116.00 380.5 0.25 82 0.51 1.14
---------------------------------------------------------------------
Includes 202.00 - 220.00 18.00 59.0 0.43 252 1.52 2.92 0.53
---------------------------------------------------------------------
---------------------------------------------------------------------
CHILE
COLORADO
---------------------------------------------------------------------
WC-73 39.30 - 78.00(1) 38.70 126.9 0.95 43 1.10 0.13
---------------------------------------------------------------------
Includes 39.30 - 44.00(1) 4.70 15.4 2.23 61 0.77 0.13
---------------------------------------------------------------------
296.00 - 431.29 135.29 443.7 0.31 43 0.39 0.91
---------------------------------------------------------------------
---------------------------------------------------------------------
WC-74 222.00 - 419.40 197.40 647.5 0.29 26 0.10 0.69
---------------------------------------------------------------------
---------------------------------------------------------------------
WC-75 192.00 - 410.00 218.00 715.00 0.41 27 0.11 1.21
---------------------------------------------------------------------
---------------------------------------------------------------------
WC-77 136.00 - 152.00 16.00 52.5 0.23 73 0.82 0.71
---------------------------------------------------------------------
194.00 - 467.87 273.87 898.3 0.48 34 0.20 0.92
---------------------------------------------------------------------
Includes 276.00 - 366.00 90.00 295.2 0.98 54 0.25 1.71
---------------------------------------------------------------------
---------------------------------------------------------------------
WC-79 270.00 - 326.00 56.00 183.7 0.12 25 0.47 0.58
---------------------------------------------------------------------
---------------------------------------------------------------------
WC-80 218.00 - 294.00 76.00 249.3 0.25 33 0.45 0.70
---------------------------------------------------------------------
---------------------------------------------------------------------
WC-81 180.00 - 452.93 272.93 895.2 0.32 21 0.09 0.73
---------------------------------------------------------------------
---------------------------------------------------------------------
WC-82 108.00 - 192.00 84.00 275.5 0.16 37 0.40 0.58
---------------------------------------------------------------------
---------------------------------------------------------------------
WC-83 102.00 - 280.00 178.00 583.8 0.36 16 0.07 0.25
---------------------------------------------------------------------
---------------------------------------------------------------------
WC-84 152.00 - 174.00 22.00 72.2 0.07 24 0.20 0.42
---------------------------------------------------------------------
---------------------------------------------------------------------
WC-85 76.00 - 82.00(1) 6.00 19.7 0.47 41 0.39 0.33
---------------------------------------------------------------------
86.00 - 188.00 102.00 334.6 0.10 29 0.43 0.55
---------------------------------------------------------------------
---------------------------------------------------------------------
WC-86 246.00 - 258.00 12.00 39.4 0.12 35 0.52 0.62
---------------------------------------------------------------------
---------------------------------------------------------------------
WC-87 266.00 - 480.00 214.00 701.9 0.72 50 0.31 1.37
---------------------------------------------------------------------
Includes 334.00 - 368.00 34.00 111.5 2.31 98 0.36 3.81
---------------------------------------------------------------------
---------------------------------------------------------------------
WC-88 76.00 - 84.00 8.00 26.2 0.58 158 4.02 3.88
---------------------------------------------------------------------
156.00 - 192.00 36.00 118.1 0.08 20 0.25 0.24
---------------------------------------------------------------------
---------------------------------------------------------------------
WC-89 252.00 - 384.00 132.00 433.0 0.08 39 0.36 0.71
---------------------------------------------------------------------
---------------------------------------------------------------------
WC-91 342.00 - 442.00 100.00 328.00 0.07 33 0.36 0.38
---------------------------------------------------------------------
(1) oxide mineralization
Note: Holes W-78, S-47, S-50, S-51, S-53, S-55, S-57, WC-94 and WC-96
do not contain significant mineralization
Core and RC samples were prepped and analyzed an·a·lyze tr.v. an·a·lyzed, an·a·lyz·ing, an·a·lyz·es 1. To examine methodically by separating into parts and studying their interrelations. 2. Chemistry To make a chemical analysis of. 3. by Acme (company, jargon) ACME - /ak'mee/ 1. A Company that Makes Everything. The canonical imaginary business. Possibly also derived from the word "acme" meaning "highest point". 2. A program for MS-DOS. Analytical analytical, analytic pertaining to or emanating from analysis. analytical control control of confounding by analysis of the results of a trial or test. Labs and ALS Als (äls), Ger. Alsen, island, 121 sq mi (313 sq km), Sønderjylland co., S Denmark, in the Lille Bælt, separated from the mainland by the narrow Alensund. Chemex. Samples were initially run using conventional ICP (1) (Internet Cache Protocol) A protocol used by one proxy server to query another for a cached Web page without having to go to the Internet to retrieve it. See CARP and proxy server. analysis with an aqua regia aqua regia (äk`wə rē`jēə) [Lat.,=royal water], corrosive, fuming yellow liquid prepared by mixing one volume of concentrated nitric acid with three to four volumes of concentrated hydrochloric acid. digestion digestion Process of dissolving and chemically converting food for absorption by cells. In the mouth, food is chewed, mixed with saliva, which begins to break down starches, and kneaded by the tongue into a ball for swallowing. process. A series of property specific standards and blanks were routinely submitted with each batch of samples. A 30 gram fire assay with gravimetric gravimetric /grav·i·met·ric/ (grav?i-me´trik) pertaining to measurement by weight; performed by weight, as a gravimetric method of drug assay. grav·i·met·ric adj. 1. finish was run on all samples for gold and silver. Samples containing more than 1% lead or zinc were analyzed using AA with aqua regia digestion. The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. has not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion