TORONTO, ONTARIO--(Marketwire - Feb. 7, 2011) - ECU Silver Mining Inc. (TSX:ECU) is pleased to announce some of the results from its current development work, where the Company has again recorded significantly higher grades from active stopes compared to the mineral resource grades calculated for the Company's NI 43-101 resource report, in the same corresponding area. Due to the consistency in the higher stope grades versus resource grades at the Santa Juana mine, located in the main Velardeña Property, the Company is attempting to reconcile assays from mine production to mineral resource grades in this area.
A major vein in the Santa Juana mine, the C-1 vein, was recently opened on level 19 and 39 samples were taken from the stope face, which averaged 29.80 grams per tonne (g/t) gold (Au), 819 g/t silver (Ag), 3.09% lead Pb and 3.40% zinc (Zn) over an average width of 0.51 meters. The best sample graded 85.31 g/t Au and 150 g/t Ag over 0.80 meters. These results are much higher than the expected grades of 3.70 g/t gold (Au) and 173 g/t silver (Ag) over 1.27 meter that were calculated for the most recent NI 43-101 mineral resource estimate report.
Michel Roy, CEO and Chairman of ECU stated, "This consistent higher grading in the production stopes has been reported in several press releases of the Company in recent months. The Company intends to use all this information to reconcile assays from production and assays from the NI 43-101 resources report. The objective will be to evaluate the opportunity of understanding whether revising the current resources merits producing a new NI 43-101 compliant mineral resource report, that would include the results of this reconciliation."
About ECU Silver
ECU Silver Mining Inc. is focused on the exploration, development and mining of gold, silver and base metals at its Velardeña District Properties in Durango, Mexico. The Company holds a NI 43-101 compliant mineral resource of 40 million silver equivalent (0.6 million gold equivalent) ounces in the measured and indicated category and 391 million silver equivalent (6.0 million gold equivalent) ounces in the inferred category. The Company also owns two mills with a combined capacity of 820 tonnes per day. ECU's mission is to become a pre-eminent silver and gold producer through the development of its existing and potential mineral resources at Velardeña.
Cautionary Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, the proposed construction of a mill, business and financing plans, business trends and future operating revenues. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any minerals produced, the Company's inability to obtain any necessary permits, consents or authorizations required for their activities, to produce minerals from their properties successfully or profitably, to continue their projected growth, to raise the necessary capital or to be fully able to implement their business strategies. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.
FOR FURTHER INFORMATION PLEASE CONTACT:
Michel Roy ECU Silver Mining Inc. Chairman and CEO Torreon, Mexico 011 52 871 747 5750
OR
Stephen Altmann ECU Silver Mining Inc. President Toronto, Canada (416) 366-2428
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