Category: Uncategorized
- Published: 29 November -0001
Scorpio\'s Drilling of the Santa Teresa Zone reports 1.60 metres grading 1,640 g/t Silver, 9.73% Zinc, 0.74% Copper, 3.54% Lead and 0.351 g/t Gold and 324 g/t Silver, 4.00% Zinc, 1.25% Copper, 5.47% Lead and 0.12 g/t Gold over 12 metres at the Nuestra
Scorpio Mining Corporation (TSX:SPM) is pleased to announce additional underground drill results from the 6th, 8th and 9th Levels of the Santa Teresa Zone, which includes a wide 12.0-metre zone of mineralization, at the 100% owned Nuestra Senora project, Sinaloa State, Mexico.
Peter J. Hawley, Chairman, CEO reports, \"The Santa Teresa zone is continuing to report grades and widths that not only are amenable to mining but are expected to increase the estimated mineral reserves and resources within the total mineral base. As such, the mine planning team has begun development on the 9th level of the Santa Teresa zone for extraction later this year. It is anticipated that the Company will use mechanized room-and-pillar mining methods accessed via internal ramps. The Santa Teresa is becoming one of our larger stoping areas, comparable with the Hoag Zone and the Main NW Zone, which will both be mined by long-hole methods. The Main NW and Hoag Zones are currently being drilled for blasting while the Santa Teresa is expected to be ready for extraction later in 2008 to ensure continued availability of ore for processing. Meanwhile, other narrower high-grade stopes are being prepared for selective mining, which will be integrated into the production schedule and enhance the daily throughput grade.\"
The reported underground drill holes were collared from approximately 90 to 160 metres below surface and were drilled as part of an ongoing program to define the extent and shape of the mineralization, upgrade reserve/resource categories and for mine planning. Listed below (Tables 1, 2, 3) are assay results received to date for the Santa Teresa Zone.
Table 1. 6th Level Underground Drill Results - Santa Teresa Zone
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From To Length Ag Au Cu Pb Zn
Hole No. (m) (m) (m) (g/t) (g/t) % % %
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NS6L-08-35 85.20 86.40 1.20 100 0.035 0.37 1.70 1.24
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NS6L-08-39 55.50 59.20 3.70 163 0.023 0.13 1.18 1.61
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83.20 89.90 6.70 230 0.066 0.40 1.78 1.54
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NS6L-08-44 74.70 81.00 6.30 115 0.069 0.78 1.82 2.60
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Table 2. 8th Level Underground Drill Results - Santa Teresa Zone
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From To Length Ag Au Cu Pb Zn
Hole No. (m) (m) (m) (g/t) (g/t) % % %
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NS8L-08-82 123.90 131.70 7.80 161 0.131 1.50 3.37 3.63
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Table 3. 9th Level Underground Drill Results - Santa Teresa Zone
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From To Length Ag Au Cu Pb Zn
Hole No. (m) (m) (m) (g/t) (g/t) % % %
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NS9L-07-107 24.00 28.50 4.50 100 0.034 0.29 2.89 2.07
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NS9L-08-114 0.00 3.20 3.20 95 0.034 0.18 2.51 2.93
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NS9L-08-116 10.50 12.70 2.20 79 0.036 0.56 2.69 3.78
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18.85 24.60 5.75 68 0.035 0.17 2.35 3.21
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NS9L-08-117 16.40 28.40 12.00 324 0.120 1.25 5.47 4.00
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NS9L-08-155 14.20 15.80 1.60 1,640 0.351 0.74 3.54 9.73
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NS9L-08-157 6.10 8.50 2.40 257 0.076 0.32 0.54 8.86
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12.20 16.20 4.00 528 0.108 0.18 1.21 7.04
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22.00 22.80 0.80 239 0.066 0.31 0.25 0.02
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NS9L-08-158 7.30 7.90 0.60 275 0.063 0.37 0.87 7.91
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12.40 13.55 1.15 181 0.278 1.33 0.37 1.08
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Drill hole data in the tables reflects down hole core lengths and actual (uncut) grades. True widths cannot be reliably estimated at this time. Further information on the Company and the Nuestra Senora project is available on the Scorpio Mining web site at: www.scorpiomining.com.
President, Mr. D. Roger Scammell, PGeo, is the Company\'s Qualified Person for the Nuestra Senora project. Mr. Scammell is responsible for the current exploration and development program and has reviewed the content of this release. All technical information for the Nuestra Senora property is obtained and reported under a formal quality assurance and quality control (QA/QC) program. Samples are shipped to the ALS Chemex preparation laboratory in Hermosillo, Mexico for drying, crushing and pulverizing. ALS Chemex, Hermosillo then sends the pulps by air-freight to ALS Chemex, Vancouver for assaying. Systematic assaying of standards and blanks are performed for the precision and accuracy; check assays are regularly conducted by SGS Lakefield Research. Details of the QA/QC program are available on the Company\'s website.
ON BEHALF OF SCORPIO MINING CORPORATION
Peter J. Hawley
Chairman & CEO
This news release includes certain statements that may be deemed \"forward-looking statements\" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the estimation of mineral reserves and mineral resources, the results of drilling and Scorpio Mining Corporation\'s commitment to, and plans for developing the Nuestra Senora Project. Generally, these forward-looking statements can be identified by the forward-looking terminology such as \"plans\", \"expects\" or \"does not expect\", \"is expected\", \"budget\", \"scheduled\", \"estimates\", \"projects\", \"intends\", \"anticipates\", or \"does not anticipate\", or \"believes\", or variations of such words and phrases or state that certain actions, events or results \"may\", \"can\", \"could\", \"would\", \"might\", or \"will\" \"be taken\", \"occur\" or \"be achieved\". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Scorpio Mining Corporation to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and potential development and construction of the Nuestra Senora Project, risks related to international operations, construction delays and cost overruns, the actual results of current exploration, development and construction activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of silver, zinc, copper, lead and gold, as well as those factors discussed in the sections relating to risk factors of our business filed in Scorpio Mining Corporation\'s required securities filings on SEDAR, including its Annual Information Form dated March 26, 2008. Although Scorpio Mining Corporation has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.
There can be no assurance that any forward-looking statements will prove accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Scorpio Mining Corporation does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
SOURCE: Scorpio Mining Corporation
Glenn Little, Jackson Little Holdings Ltd, (604) 930-4375, 1-888-930-4375, Email: This email address is being protected from spambots. You need JavaScript enabled to view it.; Rich Kaiser, YES International, 1-800-631-8127, 001-757-306-6090 (outside North America), Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
