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New San Diego, Mexico Drilling Results Confirm Additional Bulk
Mining Potential And New Gold Rich Zones At Depth
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Montreal, Quebec, February 20, 2008
Golden Tag Resources Ltd. (TSX-V:"GOG") ("Golden Tag") and ECU Silver
Mining Inc. (TSX:"ECU") ("ECU") are pleased to report diamond drill
results from the first two holes of a planned 15-hole, 7,500 metre
drilling program initiated in October 2007 on their San Diego, Mexico
property. Complete results have been received from holes SD-07-18 and
SD-07-11, drilled respectively on the western and eastern side of the
central Diorite Intrusive which cores the mineralized system on the
property. Both holes have returned very encouraging results indicating:
- High gold values associated with silver-lead-zinc vein-type
mineralization within the Montanez Zone. This style of gold mineralization
is very similar to that encountered at the nearby Velardena Mine of
ECU Silver and points to a possible common origin for these occurrences
and depth variation or zonation in mineralogy, metal content and
environment of mineralization;
- Confirmation of the bulk mining potential at depth in newly discovered
sulphide stringer zones within Endoskarn and Diorite at depths of
700 to 800 m below surface; and,
- Confirmation of the presence of broader zones of mineralization
associated with the La Cruz and Montanez zones, and the extension
of these broad zones to depth. The La Cruz Zone has now been confirmed
down to a depth of 600 metres below surface.
Results from drilling are summarized in Table 1 and are also available
at www.goldentag.ca.
David Rigg, CEO of Golden Tag stated that "The setting and nature of
the recently uncovered gold mineralization represents a major
development for the San Diego project. The new gold values occur in one
of the main structure on the property where areas of bulk mining
potential have been outlined. This discovery could lead in time to new
criteria being used for assessing resources at San Diego, since gold
values to date have been given no value in recently completed 43-101
Resource Estimates."
Hole SD-07-11 completed to a depth of 188 metres during Phase 2 program
was extended to a final depth of 447 m to test for a deep intersection
of the Montanez zone. The hole extension intersected multiple areas of
mineralization at depth including: broad zones of mineralization in the
Hangingwall, centre zone and Footwall of the Montanez zone (see Table
1), with significant gold values associated with silver-lead-zinc
mineralization similar to mineralization at the Velarde�a Mine. Results
include:
- Hangingwall Zone:
-- 4.89 g/t Au, 188 g/t Ag over 1.83 m with 4.35 % Pb and 2.58 % Zn
-- 132 g/t Ag over 7.39 m with 2.61% Pb and 3.39% Zn
- Centre Zone:
-- 89 g/t Ag over 7.10 m with 1.34% Pb and 2.59% Zn, including:
10.39 g/t Au, 129 Ag g/t over 0.30 m with 2.02 % Pb and 7.70 % Zn
-- 82 g/t Ag over 5.53 m with 1.39% Pb and 2.45 % Zn
Hole SD-07-18 was drilled beneath holes SD-06-02 and -07, the first
holes in previous programs to identify broader zones of mineralization
on the property (SD-06-02 previously returned 237 g/t Ag, 3.65 % Pb and
1.67 % Zn over 10.61 m). Hole SD-07-07 drilled 150 m below Hole -02
showed that the La Cruz Vein was actually part of a wide Fault Zone
that splits at depth into two individual zones with bulk tonnage
potential. Hole SD-07-18 tested the FZ structure at a greater depth of
approximately 250 metres below and to the east of hole SD-07-07, and
proved successful in confirming the existence of the major, broad Fault
Zone to depths of at least 600 metres from surface. The Fault Zone
hosts three individual mineralized zones as well as a high grade
sulphide vein (the La Cruz Vein). Due to faulting, some core sections
were not recovered. Zero assay grades are attributed to these intervals
in calculating hole intercepts. This broad zone of mineralization
remains open at depth and laterally across the property. Results
include:
- La Cruz Fault Zone:
-- 42 g/t Ag over 22.7 m (11.0 m true width) with 1.09% Pb and 0.85% Zn;
including:
--- 4.55 m grading 75 g/t Ag, 1.37 % Pb and 0.83 %Zn,
--- 4.57 m grading 51 g/t Ag, 1.48 % Pb and 1.42 % Zn
--- 5.63 m grading 52 g/t Ag, 1.60 % Pb and 0.94 % Zn
- La Cruz Vein:
-- 2.42 g/t Au, 231 g/t Ag over 0.60m with 5.6% Pb and 12.7% Zn
At depth and beyond the La Cruz Zone intersections, Hole SD-07-18 also
encountered a wide endoskarn package with strong propylitic alteration.
Several sulphide stringer zones (see Table 1) were intersected until
the hole ended in a fault zone at 915 m. The most significant zone
returned values of:
These results bring further evidence that the San Diego project area is
part of a large mineralized system with potential at depth.
Golden Tag Resources and ECU are encouraged by these first results from
the drilling program in that they will clearly add to the San Diego
mineral resources currently estimated at 370,852 Tonnes grading 245 g/t
Ag, 1.80% Pb, 1.33% Zn & 0.339 g/t Au for a total of 3,979,526 ounces
silver equivalent in the Indicated category and 4,976,461 Tonnes
grading 167 g/t Ag, 1.25% Pb, 1.26% Zn & 0.163 g/t Au for a total of
38,403,639 ounces silver equivalent in the Inferred category.
Golden Tag Resources and ECU initiated in October 2007, the Phase 3
drilling program entailing the completion of 7,500 m. The program is
focused on the expansion of the current resource estimate and
improvement of the quality of the resource. So far, a total of nearly
5,000 metres of drilling has been completed and over 2,000 core samples
were sent out for assaying. Further assay results will be released in
the weeks to come as they become available.
As of the end of November, 2007, Golden had incurred total expenses of
US$ 1.679 million and has met the obligations under the joint venture
agreement.
Readers are cautioned that until a pre-feasibility study is completed,
there are no assurances that these mineralized zones will be
economically viable.
Quality Control:
The San Diego drilling program is supervised by Ms. Kateri Marchand,
P.Geo. and Qualified Person under National Instrument 43-101 guidelines
and has confirmed all disclosures in this release. Assay samples are
taken from NQ/BQ size drill core cut in half with one half sent to a
commercial laboratory and other half retained for future reference.
Unless where mentioned otherwise, all assay results represent the core
length and may not be representative of the true width. A strict QA/QC
program is followed which includes mineralized standards and blanks for
each batch of samples. Analyses were performed by ALS Chemex accredited
assay laboratories of Guadalajara (Mexico) and Vancouver (Canada).
ECU Silver Mining Inc. is focused on the exploration, development and
mining of gold, silver and base metals at its Velarde�a District
Properties in Durango, Mexico. The area includes five historical mines
- Santa Juana, Terneras, San Mateo, San Juanes, and the San Diego mine.
ECU is defining the "Mineralized Corridor" at Santa Juana and also
further defining several higher grade narrow veins within the area.
ECU's mission is to become a pre-eminent silver producer through the
development of existing, and additional potential resources at
Velarde�a.
Golden Tag Resources Ltd. is a junior exploration company actively
exploring for high grade gold and silver deposits at the San Diego
silver-lead-zinc project in Durango State, Mexico; the Aquilon gold
project in James Bay, Quebec; and the McCuaig gold project in Red Lake,
Ontario.
For additional information please contact:
Golden Tag Resources Ltd.
Marc A. Carrier, President
Ph : 514-426-8542
Fax : (514) 426-8543
Email : pres@goldentag.ca
Golden Tag is a member of the Agoracom Investor Relations group at
www.agoracom.com/IR/goldentag. To be added to the investor e-mail list,
please send to gog@agoracom.com
ECU Silver Mining Inc.
Stephen Altmann, President
Ph : 416-644-8640
Email : ecu@ecu.ca
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.
TABLE 1: SAN DIEGO JOINT-VENTURE PROJECT, DURANGO, MEXICO
ASSAY RESULTS FROM THE-2007-2008 DRILL PROGRAM
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From To Length Au Ag Pb Zn Ag+Ag
HOLE SD-07-11 (m) (m) (m) (g/t) (g/t) % % Equiv.
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Montanez Zone
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Footwall 330.95 333.90 2.95 0.193 45 1.06 1.21 111
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Center 367.05 374.15 7.10 0.680 89 1.34 2.59 205
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includes:
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367.05 367.35 0.30 10.39 129 2.02 7.70 844
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368.62 374.15 5.53 0.169 82 1.39 2.45 196
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Hangingwall 382.85 385.10 2.25 0.478 92 1.38 0.81 154
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386.62 388.45 1.83 4.89 188 4.35 2.58 582
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398.75 406.14 7.39 0.145 132 2.61 3.39 307
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includes:
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401.65 406.14 4.49 0.199 184 3.24 4.92 424
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From To Length Au Ag Pb Zn Ag+Ag
HOLE SD-07-18 (m) (m) (m) (g/t) (g/t) % % Equiv.
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La Rata 466.18 466.50 0.32 1.10 225 5.01 2.53 482
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La Cruz 609.35 632.09 22.74 0.183 42 1.09 0.85 98
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includes:
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La Cruz # 3 609.35 613.90 4.55 0.359 75 1.37 0.83 137
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La Cruz # 2 618.20 622.77 4.57 0.036 51 1.48 1.42 135
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includes:
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618.20 619.50 1.30 0.102 140 4.08 3.73 365
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619.50 622.30 2.80 core not recovered
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622.30 622.77 0.47 0.063 108 3.03 3.39 294
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La Cruz #1 626.46 632.09 5.63 0.083 52 1.60 0.94 124
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includes:
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626.46 627.45 0.99 0.108 152 4.68 2.69 360
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627.45 630.45 3.00 core not recovered
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630.45 632.09 1.64 0.221 86 2.66 1.61 207
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La Cruz Vein 646.62 647.22 0.60 2.42 231 5.60 12.70 874
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Stringer Zones
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at depth 762.41 764.91 2.50 0.103 109 2.03 2.29 234
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780.90 782.52 1.62 0.034 108 2.59 2.22 246
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789.51 789.81 0.30 0.548 218 5.24 5.34 524
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823.37 823.67 0.30 0.194 225 3.66 3.01 416
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848.62 858.88 10.26 0.069 99 2.21 2.41 233
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Silver Equivalent ounces conversion factors: 26.60 g/t Ag per 1% Pb, 31.21
g/t Ag per 1% Zn and US$640 ounce with a recovery of 71% with gold values
above 1g/t. Recovery factors were 76% for silver, 71% for gold, 75% for lead
and 44% for Zn. Commodity prices of US$11.60/oz for silver,US$0.60/lb for
lead and US$1.20lb for zinc were used.
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Copyright (c) 2008 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
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