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Re: News Release - Thursday, May 03, 2007
ECU Silver Announces New Development and Drilling Results in the
Mineralized Corridor at Santa Juana
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Highlights: ECU has confirmed large packages of veins within the
Mineralized Corridor.
TORONTO ONTARIO, May 3, 2007 - Mr. Michel Roy, Chairman and CEO of ECU
Silver Mining Inc. (TSX-V: ECU) is very pleased to announce new
development and drilling results from the Santa Juana area of the
Velarde�a Project in Mexico. These results have had a positive and
significant impact to the Company's progress in the evaluation of the
Mineralized Corridor (MC) as first announced on December 18, 2006.
Today's results strongly suggest that certain vein packages within the
MC have grade profiles that are comparable to the corresponding narrow
veins at Santa Juana as previously reported in the Company's N.I 43-101
in October 2006. However, equally important is the vein packages have
significant widths which are essentially up to 24 times that of the
narrow veins. This suggests that the vein packages are potentially
amenable to bulk mining applications. However, the reader should be
cautioned that until a pre-feasibility study is complete there can be
no assurances of this happening.
The discovery of the MC in December 2006 confirmed that all the
stockwork zones discovered to date were part of a larger mineralized
sheared corridor. Additionally, a bulk mining test of one stope on
level 15 confirmed that the zones were continuous and all part of a
much larger system. As a result, since the beginning of 2007, the
Company shifted its focus from exploration and exploitation of narrow
vein material to definition of these much larger new zones that were
being encountered on all accessible levels, namely level 12 through
level 18 (230 metres of vertical extent). ECU's mining crews are now
continuing to open new access drifts and cross-cuts on multiple levels
and are preparing additional drill stations on level 18 to further
delineate the MC within the levels and at depth.
The reader is cautioned that this press release should not be
interpreted or construed as a new NI 43-101 updated resource. The
company's NI 43-101 technical report filed on Oct. 10, 2006, (the
"October 43-101 Report") still remains the current resource estimate.
Since the initial discovery of the MC, the Company has continued to add
and define the overall shape and size of the MC. Based on information
available to date the MC extends 230 metres from level 12 to level 18
and drilling has confirmed that it continues below level 18 for at
least another 250 meters. The MC is now approximately 100 metres wide
and has been followed along strike for 500 to 550 metres. Work to date
is confirming the continuity of numerous packages of high grade veins
within the MC.
Most recently, the Company has focused on better defining two vein
packages within the MC. These are the "A" veins (A1 to A7) and the "D"
vein packages. These vein packages merit increased attention since they
are easy to access from existing drifts and cross-cuts, on several
levels, and their volumes can be compared to volumes of the
corresponding narrow veins as reported in the October 43-101 Report.
The assay results from the investigation of both these vein packages
has yielded sufficient new information to conduct a comparative volume
study.
"A" Veins Package (A1 to A7)
The "A" veins package includes the individual A1 to A7 veins, plus
extentions of those veins plus additional sheeted veins and veinlets
between the A1 to A7 veins, the latter two are not included in the
October 43-101 Report.
Drill-hole SJ 18-16 (2) was driven below level 18 on the western side
of the Tres Aguilas fault to determine the vertical continuity of the
"A" veins package at depth. The drill-hole cut the "A" veins package
from 54.6 m to 62.6 m, for an 8 meter (26 feet) wide intercept grading
2.42 g/t gold, 268 g/t silver, 0.28% lead, 1.80% zinc and 0.42% copper
below level 18.
Drill-hole SJ 18-16 (2) corresponded to another intercept of the same
"A" veins package in a new cross-cut on level 18 directly above that
yielded a significant 24 meters (79 feet) wide intercept grading 1.54
g/t gold, 155 g/t silver, 0.15% lead, 0.73% zinc and 0.30% copper.
The significance of the above is the confirmation of wide packages of
veins throughout the MC at attractive grades.
Many other cuts of the same "A" veins package have also been obtained
from level 18 cross-cuts and drilling on the eastern side of the Tres
Aguilas fault demonstrating strong lateral continuity. While all the
information is not yet complete, drill-hole SJ 18-06 returned 1.48 g/t
gold, 76 g/t silver, 0.21% lead, 0.20% zinc and 0.06% copper over 12.1
meters.
"D" Veins Package
Drill hole SJ 18-16 (2) also intercepted the D veins package from 42.3
m to 50.1 m, for a 7.8 meter wide intercept grading 1.91 g/t gold, 50
g/t silver, 0.05% lead, 0.23% zinc and 0.15% copper.
A cross-cut was also driven on level 15.5 which hit the "D" veins
package and this was subsequently followed by drifting. This new drift
followed the "D" veins package for more than 50 meters (164 feet) and
11 cuts were sampled and assayed over the first 35 meters, yielding an
average of a 3.2 meters (10.5 feet) wide intercept grading 2.66 g/t
gold, 112 g/t silver, 0.56% lead, 1.23% zinc and 0.35% copper for the
11 cuts.
The most important thing about these results is that it confirmed the
grade continuity and vertical extension of the "D" veins package from
below level 18 up to level 15 and above.
"A" and "D" Veins Packages Together
Considering both the "A" and "D" veins packages together would give a
20.4 meter (67 feet) wide zone grading 1.68 g/t gold, 125 g/t silver,
0.13% lead, 0.79% zinc and 0.22% copper.
Additional holes have been drilled to test the same "A" and "D" veins
packages and they successfully encountered mineralization 150 meters
(492 feet) below level 18. Assays are pending for those additional
holes.
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TABLE 1 - NEW ASSAYS "A" AND "D" VEINS
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"A" VEINS (A1 TO A7)
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Previously, the October 2006 43-101 Report gave 274,393 tonnes grading
2.41 g/t gold and 120 g/t silver between level 12 and 19, in the
indicated resources category and 352,043 tonnes grading 2.37 g/t gold and
128 g/t silver in the inferred resources category between
levels 12 and 21.
New data not included in the October 43-101 Report
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Width Gold Silver Lead Zinc Copper
Vein Level (m) (g/t) (g/t) (%) (%) (%)
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A veins Level 18 24.0 1.54 155 0.15 0.73 0.30
SJ 18-16
A veins (2) 8.0 2.42 268 0.28 1.80 0.42
A3 and A4 SJ 18-06 12.1 1.48 76 0.21 0.20 0.06
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"D" VEINS
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Previously, the October 2006 43-101 Report gave 11,669 tonnes grading
0.89 g/t gold and 52 g/t silver between levels 14 and 15, in the
indicated resources category.
New data not included in the October 43-101 Report
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Level 15.5
D veins 35 3.2 2.66 112 0.56 1.23 0.35
meters
SJ 18-16
D veins (2) 7.8 1.91 50 0.05 0.23 0.15
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The grades in the "A" and "D" veins package compared to the average diluted
grades obtained in the October 43-101 Report are not materially different
considering the resources in the October 43-101 Report were calculated
over widths of 1.00 to 1.46 meter after dilution whereas the "A" and "D"
veins package assays represent widths up to 24 meters.
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TABLE 2 - DIMENSIONS OF PACKAGES DEFINED TO DATE
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Package Length Minimal Maximum Height Tonnage of the
(m) Width (m) Width (m) (m) defined volume
(million t)
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"A" W of Tres 150 10 24 250 1.2 to 3.0
Aguilas
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"A" E of Tres 150 5 20 300 0.7 to 3.0
Aguilas
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"D" W of 150 3 5 250 0.4 to 0.6
Tres Aguilas
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The range of tonnage was calculated using the recently opened length,
the height over which the packages were encountered in recent drilling
and developments and the minimal width for the lowest number and the
maximum width for the higher number, both with a 3.3 density.
These quantities are conceptual in nature and there has been
insufficient development to define it as a "Mineral Resource".
Furthermore it is uncertain that the current exploration program will
result in it being defined as a "Mineral Resource".
The dimensions given in Table 2 do not represent the maximum extensions
of the mentioned packages, they represent only the dimensions of the
packages as they have been defined to date. Even so, there is a
significant increase in the mineralized volumes when compared to the
tonnages calculated from the original narrow veins only (as was done in
the past).
"We are very pleased with the new drilling results and definition data
which yet again added significantly to the Company's progress in the
evaluation of the Mineralized Corridor (MC). Now, the entire scope of
the Company has changed and may continue to evolve as more data is
collected, sampled and assayed in the coming weeks and months ahead",
reported Mr. Michel Roy, Chairman and CEO of ECU Silver Mining Inc.
All widths from underground workings are true widths. All drilling
samples represent the core length and may not be representative of the
true width. Samples were assayed at ERSA, in Torreon, Coahuila, Mexico,
this laboratory is currently in the process of being certified, and at
SGS in Durango, Durango, which is a certified laboratory. Property
specific quality control samples were inserted at regular intervals in
the sample sequence and the Company routinely does check assays at
other certified laboratories.
Mr. Michel Roy, P. Geo., a "qualified person" within the meaning of NI
43-101, prepared the technical information disclosed in this news
release.
About ECU
ECU Silver Mining Inc. is a Canadian silver and gold mining and
exploration company with executive offices in Toronto, Ontario, that is
involved in the evaluation, development and mining of precious metal
deposits in Mexico. The Company owns the historically prolific,
564-hectare Velarde�a Property which holds five mines and a milling
operation in the state of Durango, Mexico. ECU's goal is to become one
of Mexico's largest producing silver mines. ECU's common shares are
listed on the TSX Venture Exchange under the trading symbol ECU.
Statements in the release that are "forward-looking statements" are
based on current expectations and assumptions that are subject to risks
and uncertainties. Actual results could differ materially. We undertake
no duty to update any forward-looking statement to conform the
statements to actual results or changes in our expectations.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contact:
Stephen Altmann, President; or
Richard Buzbuzian, Vice President 416-644-8640
View News Release in PDF Format:
http://www.ecu.ca/i/pdf/2007-05-03_NR.pdf
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Copyright (c) 2007 ECU SILVER MINING INC. (ECU) All rights reserved.
For more information visit our website at http://www.ecu.ca/ or send
mailto:ecu@ecu.ca
Message sent on Thu May 3, 2007 at 8:22:24 AM Pacific Time
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