Feb 7 2011
Extorre Gold Mines Limited (TSX:XG) (FRANKFURT:E1R) (OTCQX:EXGMF) has reported that discovery drilling continues to extend gold-silver mineralization at its 100% owned Cerro Moro Project, in Santa Cruz Province, Argentina.
The latest drilling has returned high grade to "bonanza" grade intersections from the Esperanza, Gabriela and Martina veins.
Highlights from the new drilling include a deep drill hole, MD1127 on the Martina vein. The most noteworthy intercepts from the program include:
MD1126 (Esperanza vein) intersected 1.90 metres ("m") at 12.2 grams per tonne ("g/t") gold + 1,079 g/t silver (30.2 g/t gold equivalent) including 0.30 m at 31.1 g/t gold + 2,501 g/t silver (72.8 g/t gold equivalent).
MD1127 (Martina vein) intersected 0.85m at 310.1 g/t gold + 5,295 g/t silver (313.8 g/t gold equivalent).
MD1052 (Gabriela vein) intersected 4.46m at 10.3 g/t gold + 1,440 g/t silver (34.2 g/t gold equivalent), including 1.13m at 36.8 g/t gold + 5,295 g/t silver (125.1 g/t gold equivalent).
The 11 drill holes reported in this release represent the final results from 2010 drilling.
Eric Roth, Extorre´s President and CEO, stated "The Company continues to advance the Cerro Moro pre-feasibility study, anticipating delivery by June 2011. Concurrently, we have initiated a 100,000 meter "discovery drilling" program to expand the high grade resources. With four rigs operating on a 24 hour a day basis, the contractors are exceeding 5,000 meters of drilling per month.
"The Esperanza vein has been tested previously by only limited drilling to a depth of approximately 80 metres (compared to 200 metres at Escondida and 160 metres at Gabriela, where drilling continues to return extensions to the resources). The latest Esperanza assays provide solid support for the presence of additional near surface gold-silver mineralization on the vein, particularly to the northwest of earlier drilling. Given the new results we have deferred in-fill drilling of the vein until we have more thoroughly evaluated the +2 kilometre long strike of the vein structure. Follow up drilling will also focus on testing the vein below 80 metres.
"A new Cerro Moro resource estimate update will be deferred to Q3-2011 to accommodate the new drilling at Martina, Gabriela and Esperanza."
Recent drilling on the Lucia vein consisted of widely spaced holes over a two kilometre long strike length. 14 drill holes returned no significant values, diminishing the potential for shallow mineralization. In the short term follow up drilling has been deferred in favour of other targets.
Quality Control and Assurance
Drill widths presented above are drill intersection widths and may not represent the true widths of mineralization.
Gold assay results presented above are preliminary with no cutting of high grades. All diamond drill core samples are split on regular metre intervals or on geological contacts and represent sawn half HQ-size core. Reverse circulation drill samples are collected using a cyclone in one metre intervals. Samples were prepared at the Acme Analytical Laboratories ("AcmeLabs") preparation facility in Mendoza, Argentina and assayed by fire assay (50 gram charge) at the AcmeLabs laboratory in Chile, both ISO-9001:2000 certified laboratories.
Check assaying of all samples assaying greater than 1.0 g/t gold is completed by Acme Labs. Samples returning greater than 10 g/t gold and/or greater than 100 g/t silver are assayed using gravimetric analyses. Standard and blank samples are used throughout the sample sequence as checks for the diamond drilling reported in this release. Standard, blank and duplicate samples are used throughout the sample sequence as checks for the RC percussion drilling.
Assaying by the screen fire assay method has been implemented in conjunction with standard 50 gram fire assaying, for diamond drill cores that contain visible gold. The procedure for screen fire assaying involves crushing and sieving of a nominal 1,000 gram sample to a particle size of 100 microns. All material which does not pass through the 100 micron sieve is then assayed. Two fire assays are undertaken on the undersize material as a check on homogeneity. The total gold content is then calculated.
Matthew Williams, Extorre's Exploration Manager and a "qualified person" within the definition of that term in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has supervised the preparation of the technical information contained in this news release.
Source: Extorre Gold Mines Limited