Sep 4 2015
Cyprium Mining Corporation ("Cyprium" or the "Company") is pleased to announce additional results from its initial phase of exploration at the Potosi silver mine located in Santa Eulalia, Mexico. On July 28, 2015, the Company announced the signing of letter of intent to acquire a 53% controlling interest in a joint venture to be formed which will have the rights to explore and exploit the historic Potosi silver mine.
The underground exploration program consisted of thirteen channel samples taken on level 6 and 11 of the mine. Three samples from level 6 gave a weighted average of 733 g/t Ag, 1.12% Pb and 0.53% Zn over an average sample width of 1.53 meters, while a sample taken from a stockpile located on level 6 yielded 376 g/t Ag, 0.75% Pb and 1.66% Zn. The nine samples from level 11 yielded 45.5 g/t Ag, 2.02% Pb and 4.10% Zn over an average sample width of 1.84 meters.
Mr. Alain Lambert, Chairman and C.E.O. of Cyprium stated: "While the rehabilitation of shaft #3 and #5 as well as starting initial pilot production at level 2 to 4 and 9 & 10 remain our priority, our technical team continues the underground exploration of the Potosi mine with a view of identifying future production targets."
The results announced today follow the first set of results announced on August 12, 2015. These results consisted of thirty-four channel samples and had as their primary objective to audit past exploration results from over five hundred samples taken in 2014 on levels 9 and 10 of the mine by an independent third-party. The audit sampling included taking twenty-five duplicate samples of the 2014 program. Sampling in new areas was also conducted on levels 3 and 4 of the mine where initial pilot production is planned. Nine samples were taken in this area.
The samples were placed in labeled bags secured with plastic tie strips and were delivered directly to the analytical facility for analysis, ALS Chemex de Mexico, located in Chihuahua City, Mexico. The samples were weighed, identified and photographed prior to sample preparation. All samples were analyzed in Vancouver by the ME-MS41 method for 51 elements, and over limits for Ag, Pb and Zn were reanalyzed by the Me-OG62 method when Ag is greater than 100g/t and Pb or Zn are greater than 1%. ALS Chemex is an internationally recognized analytical laboratory.
The Santa Eulalia District
Santa Eulalia is a world class polymetallic mining district located in the central part of the State of Chihuahua, Mexico, approximately twenty-two kilometers east of the City of Chihuahua. Mineralization in the area was originally discovered during the Spanish colonial period in the 1500's, and recorded production has occurred over more than 300 years. Santa Eulalia ranks as one of Mexico's primary silver and base metal producing districts with nearly 450 million ounces of silver and substantial amounts of lead and zinc mined. The nature of the deposit in the Santa Eulalia district is a carbonate replacement deposit and is the historically largest of its type in Mexico. Mineralization occurs in an area about 10 km in length and 5 km in width. Production and reserves for the district have been estimated to be about 50 million metric tons (1) with grades of 125-350 g/t Ag, 2-8% Pb and 3-12% Zn (1) (2), along with appreciable quantities of tin and vanadium.
The Santa Eulalia district covers approximately forty-eight square kilometers and is divided into three areas, the West Camp, the Central Camp and the East Camp. The Potosi silver mine is located in the West Camp. The West Camp has produced most of the minerals from the district from an area 4 km long in a north-south direction and 2 km wide in an east-west direction, with the Potosi silver mine being one of the primary producers.
Geological Setting, Deposit Type and Mineralization
Mineralization in the Santa Eulalia district is characterized by massive sulfides, dominantly pyrrhotite, sphalerite, galena and pyrite that are hosted mainly in horizontal mantos and steep chimneys of sulfide material that replace limestone, with some breccia bodies also occurring. Mineralized bodies occur along laterally continuous discrete structural zones that mainly trend in a north-south orientation, with mineralization forming preferentially in certain stratigraphic units. Past mining has reached to as much as 700 meters depth below the surface on 21 levels. Production in the West camp was diminished until the late 80's with the discovery of new mineralization. Currently there is little production in the district.
National Policy 43-101 Report
Cyprium has engaged Dr. Craig Gibson to complete a National Instrument 43-101 report with respect to the initial mine levels 2, 3 and 4 of the Potosi silver mine. It is expected the report will take two months to complete. The report to be prepared by Dr. Gibson shall not contain a resource or reserve calculation.
References:
(1) Megaw, P.K.M., 1990, Geology and geochemistry of the Santa Eulalia mining district, Chihuahua, Mexico, unpublished PhD dissertation, University of Arizona, 461 pp.
(2) Bustos-Diaz, J.L. and Arzabala-Molina, J., 2007, Monografia Geologico-Minera del Estado de Chihuahua, Servicio Geologico Mexicano, 640pp.
Source: http://www.cypriummining.com/en