September 4, 2008
Mexoro Minerals Intersects 13 Meters 6.52 G/T Gold and 266.5 G/T Silver and Continues to Extend the Mineralized Body at Its Cieneguita Project In Mexico
CHIHUAHUA, Mexico, Sept. 4 /PRNewswire-FirstCall/ -- Mexoro Minerals Ltd. intersects 13 meters of 6.52 g/t gold and 266.5 g/t silver and continues to extend the mineralized body at its Cieneguita project which remains open to the west. (MXOM.OB) (Frankfurt: OYA1).
Mexoro Minerals Ltd. (BULLETIN BOARD: MXOM) is pleased to announce the results of 6 diamond core drill holes completed in the Central and West part of the Cieneguita project in the state of Chihuahua, Mexico. To date, 52 drill holes have been completed. Assay results are now complete through holes CI-39.
-- Drill hole CI-34 further confirmed and expanded near-surface mineralization in the west portion of the known mineralized system at Cieneguita. This hole intersected broad intervals, including: 46.00 meters (0 to 46.0 m) averaging 4.68 g/t Au, 87.67 g/t Ag, 0.24% Pb and 0.22% Zn and 93.0 meters (128.5 to 221.5 m) with 0.10 g/t Au, 15.81 g/t Ag, 0.55% Pb and 0.85% Zn. Hole CI-34 extended the mineralization, originally identified in CI-21, CI-30 and CI-35, further west and it suggests that it remains open in that direction.
Drillhole From To Interval Au Ag Pb Zn (m) (m) (m) (g/t) (g/t) (%) (%) CI-34 0.0 46.00 46.00 4.68 87.67 0.24 0.22 Including 0.0 13.00 13.00 6.52 266.52 0.80 0.73 Including 20.50 44.50 24.00 5.00 13.55 CI-34 128.50 221.50 93.00 0.10 15.81 0.55 0.85
-- Drill holes CI-36 and CI-39 intersected significant precious metal mineralization near the surface. Both holes were collared to the north- northeast of CI-34 in the vicinity of Pit No.2, just at the limit of the known mineralized area. CI-36 intersected 33.0 meters (14.50 to 47.5 m) averaging 0.48 g/t Au and 43.89 g/t Ag and 13.5 meters (68.50 to 82.0 m) with 0.53 g/t Au and 41.64 g/t Ag. CI-39 intersected 79.60 meters (12.9 to 91.20 m) averaging 0.43 g/t Au and 17.05 g/t Ag.
Drillhole From To Interval Au Ag Pb Zn (m) (m) (m) (g/t) (g/t) (%) (%) CI-36 14.50 47.50 33.00 0.48 43.89 Including 14.50 22.00 7.50 0.84 58.20 CI-36 68.50 82.00 13.50 0.53 41.64 CI-39 12.90 91.20 79.60 0.43 17.05 Including 29.50 32.50 3.00 1.29 204.60
-- Three drill holes, CI-26, CI-37 and CI-38, were completed in a low- grade precious and base metal mineralization zone close to an andesitic post- mineral dyke in the central portion of the Cieneguita mineralized system. Drill holes CI-37 and CI-38 intersected important precious metal mineralization starting from surface and ended significant base metal mineralization. CI-38 intersected 91 meters (0 to 91 m) averaging 0.46 g/t Au and 15.20 g/t Ag and ended with 29.05 meters (147.25 to 176.30) averaging 0.26 g/t Au, 31.38 g/t Ag, 0.51% Pb and 1.01% Zn. Hole CI-37 intersected 15 meters (10.50 to 25.5 m) 0.34 g/t Au and 48.88 Ag and ended with 10.60 meters (202.50 to 213.10) with 0.18 g/t Au, 26.89 g/t Ag, 0.54% Pb and 0.69% Zn.
Drillhole From To Interval Au Ag Pb Zn (m) (m) (m) (g/t) (g/t) (%) (%) CI-37 10.50 25.50 15.00 0.34 48.88 Ended In 202.50 213.10 10.60 0.18 26.89 0.54 0.69 Drillhole From To Interval Au Ag Pb Zn (m) (m) (m) (g/t) (g/t) (%) (%) CI-38 0.0 91.00 91.00 0.46 15.20 Including 14.40 37.00 22.60 0.61 39.43 Including 59.50 91.00 31.50 0.57 7.90 Ended In 147.25 176.30 29.05 0.26 31.38 0.51 1.01
For a complete assay table and maps of Cieneguita, please visit our website at http://www.mexoro.com/projects/cieneguita_drilling_update.asp.
The Cieneguita mineralized deposit is associated with a diatreme breccia body where oxide and sulfide mineralization is mainly hosted by moderately to pervasively quartz-sericite altered diatreme breccias and lapilli tuffs. The mineralized body is shaped like a funnel which has been flattened laterally.
Drill hole CI-34 was collared in the western portion of the Cieneguita mineralized system, where the best grades and greatest thickness of precious and base metals mineralization have been found, which seems to represent the main conduit of the diatreme. Mineralization intersected in CI-34 and CI-29 (previously released) suggests that mineralization still remains open to west, southwest and to depth in the western part of the Cieneguita deposit.
Mexoro's exploration drilling program continues to the west, where access road and drilling platforms have been completed to explore the Cieneguita's potential in the westerly direction. Parallel to this exploration drilling in the western portion, an infill drilling program has been initiated, including preparing access roads and drilling platforms and bringing in a second drill rig. This infill drilling program is designed to significantly expand the inferred mineralization of 14.86 million tons @ 2.12 g/t gold equivalent and to be ready to prepare a more rigorous NI43-101 compliant resource estimation.
These results have been prepared under the supervision of Barry Quiroz, MSc., Mexoro VP of Exploration. He has the expertise and authority to verify the authenticity and validity of this data. The qualified person who has done the geologic modeling and the resource calculation and 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).
Mexoro Minerals Ltd. is an exploration company focused on exploring for precious metals in the traditionally mineral rich Sierra Madre region of Chihuahua, Mexico and controls three historical gold-silver mines for which additional exploration has confirmed significant mineral potential. The Company also has claims on additional properties in the state of Chihuahua.
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. The Company believes it has on its Cieneguita property an inferred geologic body of 14.86 million tons at a grade of 2.12 g/t. 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.
Cautionary Note to US Investors:
All mineral material have been calculated in accordance with the definition standards on mineral resources and mineral reserves of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in Canadian National Instrument 43-101, commonly referred to as NI 43-101. U.S. SEC reporting requirements for disclosure are governed by SEC Industry Guide 7. NI 43-101 and Industry Guide 7 differ materially.
The United States Securities and Exchange Commission limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain terms in this press release, such as "reserves,""resources,""geologic resources,""proven,""probable,""measured,""indicated," or "inferred" which may not be consistent with the reserve definitions established by Industry Guide 7. U.S. investors are urged to consider closely the disclosure in our filings with the SEC. You can review and obtain copies from the SEC website at http://www.sec.gov/edgar.shtml.
Corporate Headquarters Mexoro Minerals Ltd. C. General Retana #706 Col. San Felipe, Chihuahua, Chih. C.P. 31203 Mexico Tel: +52 (614) 426-5505
Mexoro Minerals Ltd.
CONTACT: Corporate Headquarters of Mexoro Minerals Ltd.,+52 (614) 426-5505
Web site: http://www.mexoro.com/