Mexoro Minerals Ltd. News
Mexoro Minerals Discovers New Areas of Mineralization at Its Cieneguita Project
CHIHUAHUA,
Mexoro Minerals is pleased to announce that it has discovered new mineralized and altered zones inside the group of concessions of its Cieneguita project, Urique District, Chihuahua.
In addition to the vigorous core drilling program being undertaken at the Cieneguita project several other exploration activities are in progress within the group of concessions integrating the project. These activities are contributing to increase our knowledge about the Cieneguita mineralization system and expand our GIS database as a foundation for ongoing work. The exploration program that is currently underway is focused mainly to the south of the known mineralization zone in Cieneguita along a well defined north-south to southwest semi-circular structural trend.
The field follow-up through a mapping and sampling process at 1:1,000 has delineated three new highly mineralized and intensively altered areas including: (1) Piedras Blancas, an area 500 meters to the south of the main Cieneguita project inside Mexoro's concessions; and (2) two areas just on the south of the known Cieneguita mineralization limit. To date a total of 133 samples have been collected and we have received complete chemical assay results for only 26 samples. To see the detailed results of the samples, please visit our website at http://www.mexoro.com. A brief description for the new areas identified is provided below:
1. Piedras Blancas is a new identified area 500 meters to the South of the known limits of Cieneguita's Pit 1 and Pit 2. Piedras Blancas is exhibiting an intense alteration characterized by quartz-sericite-pyrite assemblages where pyrite has been partially and/or completely oxidized. Areas with intense fracturing and stockworking where limonites are dominated by goethite and hematite are also common. Assays results from surface sampling have returned values ranging from trace to 1.98 g/t Au. The mineralized and altered area dimension is at least 700 x 300 meters and is located in the intersection of main structures to the south of the concessions group. 2. Gold mineralization identified in two areas immediately to the south of the Cieneguita's known limits of mineralization are mainly structurally controlled exhibiting quartz-sericite-pyrite and small and localized area with clay content. Limonites are dominated by goethite (+/- hematite +/- jarosite). Sampling of the two mineralized zones have returned values varying from trace to 6.38 g/t Au.
The results and information gathered from this latest mapping and sampling campaign have provided significant evidence that increases the current known limits of the mineralization further south and the possibility to have another mineralized system at Cieneguita only 500 meters away from the main project.
The mapping and sampling program will continue in the south part of our concessions aimed to fully evaluate the potential and identify drilling targets at Piedras Blancas, the new mineralized area.
Maps and photographs of the new area Piedras Blancas and the new findings are available at http://www.mexoro.com
As a result of these new discoveries and the significance of the recent drilling results on the property, Management has decided to postpone putting the Cieneguita property back into production. Management wants to complete the drilling on the property and assess the new areas to ensure that the current mine design and the strategy of putting the property into production maximizes shareholders' value.
This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates", "believes", "estimates", "expects", "plans", "intends", "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. It also contains our belief that there is significant evidence that increases the current known limits of the mineralization further south and the possibility to have another mineralized system at Cieneguita only 500 meters away from current project. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.
Corporate Headquarters Investment Information Mexoro Minerals Ltd. Maria Nordahl, Communication Manager C. General Retana #706 G.M. Capital Partners, Ltd Col. San Felipe, C.P. 31203 Usteristrasse19, CH-8023 Chihuahua, Chih., Mx Zurich, Switzerland Telephone: 800-661-7830 Tel: +41.44.226.5000 Fax: 888-639-4097 Tel: (800) 647-9877 Fax: +41.44.226.5009 Email: maria@gmcapital.com
SOURCE Mexoro Minerals Ltd.
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