Mexoro Minerals Announces Drill Results From the Cieneguita Project
CHIHUAHUA, Mexico, June 23 /PRNewswire-FirstCall/ — Mexoro Minerals Ltd. (BULLETIN BOARD: MXOM) is pleased to announce the drill results from three additional holes from the Cieneguita project, located in Chihuahua, Mexico. Drill holes CI-21 to CI-24 were part of the recently completed drill project at Cieneguita, consisting of 31 core holes totaling 7,166 meters. The Company has also included the complete assay results for hole CI-21 (partially reported results from CI-21 in a press release dated May 21, 2008 included 74 meters of 1.72 g/t gold and 119.77 g/t silver).
Partial results from Hole CI-22 stopped in mineralization, including a 5 meter mineralized interval of 1.17 g/t Au and 157 g/t Ag (intercepted at the end of the hole). In addition, the complete assay results from CI-21 included 111.50 meters of 1.24 g/t Au, 99.59 g/t Ag, 0.45% Pb and 0.73% Zn, and 74 meters of 1.72 g/t Au and 119.77 g/t Ag. Hole CI-24 yielded 59.50 meters of 1.31 g/t Au and 60.38 g/t Ag. Hole CI-23 did not encounter economic mineralization.
The Summary of these assay results are seen in the table below (visit http://www.mexoro.com/ for further assay details, and a map showing the locations of holes CI-01 to CI-31).
Hole ID From (m) To(m) Interval(m) Aug(g/t) Ag(g/t) Pb(%) Zn(%) CI-21 42.50 154.0 111.50 1.24 99.59 0.45 0.73 Including 42.50 116.50 74.00 1.72 119.77 0.49 0.79 CI-22 0.0 89.50 89.50 0.57 50.98 0.10 0.17 Including 15.00 30.00 15.00 1.03 59.58 Including 21.00 27.00 6.00 1.68 75.07 0.40 0.81 Including 77.00 89.50 12.50 0.84 79.96 Including 84.50 89.50 5.00 1.17 157.03 CI-24 0.0 59.50 59.50 1.31 60.38 Including 12.50 42.05 29.55 1.65 90.90 Including 15.50 29.00 13.50 1.70 161.81 Including 47.85 52.00 4.15 1.32 38.55 0.50 1.25
In a press release dated May 21, 2008, Hole CI-21 was collared to the south of Pit 2 in a southeast direction. This drill hole was designed to test anomalous and high grade gold values obtained from surface samples taken during the mapping process carried out in 2007. The results indicate an expansion of both the near surface oxide mineralization and the deeper sulfide gold-silver (+lead-zinc) mineralization. Gold, silver and base metals mineralization intersected in drillhole CI-21 may represent a new hydrothermal mineralization center at the southwest portion of the Cieneguita system that could significantly increase the potential of the project. Assay results from CI-26 to CI-31 are still pending from ALS Chemex.
Barry Quiroz, VP Exploration for Mexoro, comments, “We are very pleased to see these extensions of the mineralization, and the consistency in grades provides evidence of large bulk tonnage precious metals (+/- base metals) deposit.”
Mexoro Minerals Ltd. is a precious metals exploration company focused on the development of advanced stage projects in the Sierra Madre Gold/Silver belt in Chihuahua, Mexico. Mining operations are through a 100%-owned Mexican subsidiary, Sunburst de Mexico, S.A. de C.V. (“Sunburst Mexico”). Sunburst Mexico owns or has options on three historical gold-silver mines for which additional exploration has confirmed significant mineral potential. Mexoro recently signed an LOI announcing a Strategic Alliance with Paramount Gold and Silver Corp (AMEX/TSX: PZG).
The qualified person who has reviewed this news release is Dana C. Durgin, M. Sc. Economic Geology. He is a Certified Professional Geologist (CPG #10364) with the American Institute of Professional Geologists, and a Registered Professional Geologist in Wyoming (PG-2886).
This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as “anticipates”, “believes”, “estimates”, “expects”, “plans”, “intends”, “potential” and similar expressions. Forward-looking statements in this press release include our belief that the gold, silver and base metals mineralization intersected in drill hole CI-21 may represent a new hydrothermal mineralization center at the southwest portion of the Cieneguita system that could significantly increase the potential of the project These statements reflect the Company’s current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company’s actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.
Contacts: Mexoro Minerals Ltd. Mario Ayub, President Investor Relations 613.288.4288
Mexoro Minerals Ltd.
CONTACT: Mario Ayub, President of investor relations of Mexoro MineralsLtd., +1-613-288-4288