Milner Consolidated Silver Mines Ltd. Outlines a Mineralized Corridor at its San Lucas Project in Mexico
07 Juli 2008 - 10:29PM
Marketwired
PENETANG, ONTARIO (TSX VENTURE: MCA) is pleased to announce
positive results from its ongoing exploration program on its San
Lucas Exploration Concession. The concession encompasses an area of
1,569 hectares and is located in the Sierra Madre Occidental
porphyry copper belt of Northern Mexico. The concession is owned
100% by Milner's wholly-owned Mexican subsidiary company (Minera
Milner S.A. de C.V.).
Most of the mineralization found to-date is located in a
copper-gold porphyry-skarn system and is possibly fault
controlled.
To-date, in excess of 20 mineral occurrences have been located
on the concession. Most of these are aligned along a pronounced
corridor trending in a N30 degrees E direction. The corridor has
to-date been traced over a length of approximately 2 kilometers and
is open both to the north and to the south.
Primary copper mineralization consists of chalcopyrite and
bornite. Secondary copper minerals include malachite and azurite
and possibly secondary bornite replacing pyrite locally. Lead-zinc
mineralization, along with copper and gold-silver values also
occurs towards the southern end of the corridor. The lead-zinc
mineralization consists of galena, sphalerite and secondary
lead-zinc minerals including cerrusite and hemimorphite. Isolated
small lenses of fairly massive magnetite occur locally in the
mineralized zones. The mineral occurrences along the corridor are
all skarn hosted and disseminated specular hematite is a ubiquitous
accessory mineral in the skarn mineralization.
Outside of the corridor, low grade gold values (up to 1.51 grams
per tonne) occur associated with a series of quartz veins hosted in
porphyry.
To-date, in excess of 100 selected grab samples taken from the
mineralized occurrences have been submitted to the A.L.S. Chemex
Laboratory in Vancouver, British Columbia. These grab samples were
collected primarily to determine if significant gold-silver values
are associated with the base metal (copper-lead-zinc)
mineralization.
The assay results of the samples taken to date are encouraging
with gold values ranging from a fraction of a gram per tonne to a
peak value of 39 grams per tonne. Silver values range from 0.3
grams per tonne to a peak value of 218 grams per tonne. The copper
content ranges between 0.595% to a peak value of 9.02% Selected
grab samples from the lead-zinc occurrences assayed from 6.3% to in
excess of 20% lead and from 19.15% to 27.6% zinc.
It is still too early in the exploration program to draw
conclusions as to the potential of the mineralization discovered
to-date. Approximately 60% of the concession area has been covered
to-date by a widely spaced preliminary geochemical soil sampling
program and preliminary prospecting. The remainder of the
concession has still not been examined even in a preliminary way
but work is ongoing.
Exploration activity in the general area has increased in the
last few months and road access in the area is much improved as a
result of these activities. One of Mexico's largest mining
companies (Industrias Penoles Mx) has recently constructed and is
currently maintaining a drill access road to within one kilometer
of the San Lucas concession. Penoles has moved in two diamond drill
machines with considerable depth capacity and is currently drilling
deep holes to explore a copper-gold porphyry-skarn system. Penoles'
drill pads have been constructed as close as one kilometer from the
boundary of Milner's San Lucas concession. Another company
(Precobre S.A. de C.V.), which is a joint venture company formed by
Codelco and Penoles is also drilling porphyry-skarn systems close
to Milner's San Lucas concession. Both of these companies are
targeting geological settings with the potential to host large
porphyry copper deposits.
As required by the National Instrument 43-101, Milner's
designated Qualified Person for the supervision of exploration
projects in Mexico is E.W. Bazinet, P. Eng. Ontario, President of
Minera Milner S.A. de C.V., who has verified the technical
information reported in this news release.
About Milner Consolidated Silver Mines Ltd.
Milner Consolidated Silver Mines Ltd. is a junior resource
company, quoted for trading on the TSX Venture Exchange under the
symbol MCA. There are currently 7,438,506 shares issued and
outstanding in Milner Consolidated Silver Mines Ltd.
On Behalf of the Board,
D.J. Bazinet, President
Shares Outstanding: 7,438,506
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Milner Consolidated Silver Mines Ltd. Deborah Bazinet
(705) 533-3430 (705) 533-1521 (FAX)
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