TSX Venture Exchange - DIB
Bolsa de Vlores de Lima - DIB
TORONTO, Oct. 9, 2012 /PRNewswire/ - Dia Bras Exploration Inc. (TSX-V:DIB) ("Dia Bras") (the "Company") is pleased to report that expanded sampling at the San Patricio prospect of its Bacerac Property, Sonora State, Mexico, has yielded more high grades of silver and gold. The sampling program is being followed by diamond drilling to test the mineralized breccia at depth, which is scheduled to begin in mid-October.
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"These results confirm that the San Patricio breccia zone is of significant size," stated Daniel Tellechea, President & CEO, "and have increased the potential for an open-pitable silver-gold-lead mine at San Patricio. Our diamond drilling program is designed to test the open pit potential and is scheduled to begin in mid-October."
The map of the San Patricio prospect area shows that the silver-gold-lead mineralized breccia covers an area of approximately 500 x 400 m, within which an area of 300 x 400 m has returned high grades of gold and silver. Mineralization appears to occur both as disseminations and as quartz veinlets. The mineralized zone may be controlled by a sigmoidal fault that cuts the capping dacite, which overlies limestone; although a chimney structure is believed possible by the Company's geologists. The primary target is the limestone, which is a more receptive host rock. At the San Patricio mine, a sample from brecciated host rock has returned values up to 3,636 g/t silver, 9.37 g/t gold, 9.2% copper and over 20% lead from a channel sample of 3.8 m width. While the Company does not expect significant tonnage at these grades, these results indicate that broad zones of potentially-economic mineralization could occur in the limestone underlying the volcanic rock.
Sampling crews have collected 800 rock-chip samples north of the old San Patricio mine, and assay results have been received for 389 samples. The table below shows results from three of the better clusters of samples.
Table 1: Selected Samples from San Patricio Prospect, Bacerac
|Sample #|| Sample |
|Ag g/t||Au g/t||Cu %||Pb %||Zn %||Mn %||Te ppm|
*nr = not received
The project area contains Tertiary volcanic rocks consisting of dacitic and andesitic flows and breccias that overlie probable Cretaceous sedimentary rocks including limestone; both units locally exhibit strong alteration. A large area of alteration and mineralization surrounds the San Patricio mine and provides a large exploration target. Mineralization is commonly associated with strongly silicified volcanic rocks near the base of the unit at or near the contact with underlying sedimentary rocks. Veins are locally important. There are multiple small mines and prospects in the region.
Infrastructure only five kilometres from San Patricio includes a major regional highway, towns, power grid, etc. These factors will have a significant positive effect on future operation costs.
Method of Analysis
Samples were prepared at the ALS Chemex lab facility in Chihuahua, Mexico, and analyzed by ICP and AA methods at their facilities in Vancouver, Canada. Samples sent for analysis were prepared by the ALS Chemex sample preparation laboratory in Chihuahua, Mexico, and assayed for Au by 50 g fire assay with AA finish, and for Ag by AA on 50 g split sample at the ALS Chemex North Vancouver Laboratory. Assays for Pb, Zn and Cu are done by Induction Coupled Plasma (ICP) at ALS Chemex.
The quality assurance-quality control (QA-QC) program employed by Dia Bras has been described in detail in both RPA's NI 43-101 reports of December, 2006, at Cusi and October, 2005, for Bolivar.
The technical content of this news release has been approved by Thomas L. Robyn, Ph.D., CPG, RPG, a Director of Dia Bras, a Qualified Person as defined in NI 43-101.
About Dia Bras
Dia Bras Exploration is a Canadian mining company focused on precious and base metals in Chihuahua State, other areas of northern Mexico, and at its Yauricocha silver-lead-zinc-copper-gold mine in Peru. The Company is accelerating exploration at the Yauricocha property as well as pursuing the development and exploration of its most advanced Mexican assets - the Bolivar Property (copper‐zinc‐silver) and the Cusi Property (silver) and is exploring in Mexico several precious metal targets such as La Sidra gold project at the Bolivar Property, the Las Coloradas silver project at Melchor Ocampo (Zacatecas State), the Bacerac silver project (Sonora State), and the La Verde gold project at the Batopilas Property (Chihuahua State). Dia Bras is also exploring base metal projects in Mexico such as the Corralitos intrusion-hosted molybdenum deposit (Chihuahua State).
The Company's shares trade on the Bolsa de Valores de Lima and TSX Venture Exchange under the symbol "DIB".
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Except for statements of historical fact, all statements in this news release without limitation regarding new projects, acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
SOURCE Dia Bras Exploration Inc.
Image with caption: "San Patricio Map Area (CNW Group/Dia Bras Exploration Inc.)". Image available at: http://photos.newswire.ca/images/download/20121009_C5278_PHOTO_EN_19039.jpg