Soho Begins Exploration Work on Jocuixtita Silver Project in Sinaloa, Mexico
17 Februar 2011 - 4:00PM
Marketwired
Soho Resources Corp (TSX VENTURE: SOH) ("Soho" or the "Company") is
pleased to announce that it has commenced access road
rehabilitation in preparation of initiating a first phase
exploration program on its new Jocuixtita Silver Project in
Sinaloa, Mexico. The first phase exploration program will include
geological mapping, surface and underground sampling of exposed
mineralization, and possibly geophysics, followed by drill testing
two principle zones, the La Salvadora and El Carmen zones, located
approximately 700 meters apart on the same 3km long structure.
During a due diligence site visit, the Company observed and chip
sampled exposed mineralization within these two zones ranging from
four to ten meters in width. Highlights from El Carmen and La
Salvadora sampling completed by the Company are presented in the
table below.
Jocuixtita Project
In 2009 Soho's 100% owned subsidiary, Samarkand de Mexico, S.A.
de C.V. entered into two option agreements to explore and acquire
100% of five mining concessions occupying 1,668 hectares. In
addition, Samarkand also staked additional concessions covering
2,664 hectares which surround the optioned concessions. All of the
concessions cover a cumulative area of 4,332 hectares.
The Jocuixtita Property hosts a number of northwest and cross
cutting northeast trending epithermal vein structures mineralized
with silver, gold, lead and zinc.
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Sample Vein Sample Type Width Kg Au g/t Ag g/t Pb % Cu % Zn %
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5704 La Salvadora Channel 1.00 2.11 1.920 610 8.11 0.170 23.70
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5706 La Salvadora Channel 1.20 2.72 0.698 126 0.52 0.048 5.84
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5712 La Salvadora Channel 1.30 3.90 0.584 205 2.92 0.119 12.05
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5714 La Salvadora Channel 1.00 4.00 1.315 345 2.46 0.096 13.25
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5721 La Salvadora Channel 1.30 3.77 1.110 867 2.36 0.137 4.53
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5722 La Salvadora Channel 2.00 2.83 0.529 427 5.87 0.184 9.92
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5727 El Carmen Channel 1.00 1.91 0.138 335 0.84 0.041 1.30
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A complete list of sample locations and results can be viewed on
the Company website by clicking the following link.
http://www.sohoresources.ca/pdf/Jocuixtita_Assays.pdf
Tahuehueto Project
On its flagship Tahuehueto Project, the Company is in the
process of organizing an infill drilling campaign designed to
upgrade the inferred resources to measured and indicated resources
in preparation of pre-feasibility and subsequently feasibility
studies. The Company is also reviewing proposals from recognized
engineering firms to provide engineering consulting services for
pre-feasibility study geotechnical, water management, waste
management and environmental services. Work at Tahuehueto is
expected to start in March 2011.
About Soho Resources Corp.
Soho Resources Corp. is an exploration and development company
strategically focused on gold, silver and base metals in the
prolific Sierra Madre Belt of Mexico.
The Company has been conducting an exploration and drilling
program to expand and upgrade its resources at its flagship
Tahuehueto Project in Durango State and on October 4, 2010
announced the results of a Preliminary Economic Assessment ("PEA")
completed by Snowden Mining Industry Consultants Inc. Key findings
from the report included:
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Summary of PEA Estimates
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Net cash flow $US 184.2 million
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Net present value (NPV) 5% discount $US 109.6 million
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Internal rate of return % 31%
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Payback period (months) 27
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Mine life (years) 11
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Maximum processing rate (tonnes/annum) 1,000,000
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Capital and start-up costs $US 89.1 million
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The Tahuehueto Project is a classic epithermal system hosting
multiple structures traced for up to six kilometers of strike
length. Considerable upside exploration potential remains on the
existing explored resource structures both down dip and along
strike, as well as on numerous other unexplored mineralized
structures.
Qualified Persons
This press release was prepared under the supervision and review
of Ralph Shearing, President and CEO of Soho Resources Corp., a
Licensed Geologist, and Qualified Person as defined by NI
43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
Ralph Shearing, Chief Executive Officer
WARNING: The Company relies upon litigation protection for
"forward-looking" statements. This News Release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of up-coming work programs,
geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward-looking statements address
future events and conditions and therefore involve inherent risks
and uncertainties. Actual results may differ materially from those
currently anticipated in such statements. Soho Resources Corp.
relies upon litigation protection for forward-looking
statements.
Shares Issued - 185,533,676
Last Close $0.12 - February 16, 2011
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 release.
Contacts: Soho Resources Corp. Mr. Glen Sandwell (604) 684-8071
or Toll Free: 1-800-685-0576 ir@sohoresources.ca
www.sohoresources.ca
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