Esperanza Reports New Cerro Jumil Drill Results and Appoints Project Finance Advisor
04 Janvier 2012 - 12:00PM
Marketwired Canada
Esperanza Resources Corp. (TSX VENTURE:EPZ)(PINKSHEETS:ESPZF) is pleased to
provide this update on its Cerro Jumil, Mexico project. Highlights of the
on-going drill results include:
-- Drill Hole RCHE-11-220 intersected two separate intervals with 22.5
meters containing 2.5 grams of gold per tonne and 30 meters containing
1.1 grams of gold per tonne.
-- Drill Hole RCHE-11-221 intersected two separate intervals with 10.5
meters containing 1.7 grams gold per tonne and 18 meters containing 1.0.
-- Drill Hole RCHE-11-222 intersected 40.5 meters containing 1.6 grams gold
per tonne.
Complete results are in the accompanying table and drillhole locations are shown
on the accompanying map. A detailed drill hole plan map can be found on the
Company's website at
http://www.epzresources.com/cerrojumil_drillholelocationsdetail.php.
Drill Hole RCHE-11-220 had two consecutive samples (1.5 meters each) which
contained 119 and 82 grams of gold per tonnes respectively. This demonstrates
that small but high grade pockets do exist. All assays are cut to a top grade of
10 grams per tonne for the calculation of the average grade of any interval as
well as for resource estimation.
The current drill results include in-fill holes designed to upgrade areas of
inferred resource to measured or indicated status (RCHE-11-220, 221, and 222),
condemnation holes that confirm no mineralization exists in areas proposed for
future mine infrastructure (RCHE-11-217, 218, 226, 227, 228), and confirmation
drilling of possible extensions of known zones either to depth or along strike
of the identified deposit (RCHE-11-219, 223, 224,225).
Esperanza has contracted two new drill rigs which are expected to be in place
this month. These will be used for exploration drilling as well as geotechnical
and metallurgical sampling to support the upcoming feasibility study.
Project Finance Advisor Contracted
Esperanza has appointed Euroscandic International Group Consulting Inc. to act
as an independent financial advisor for the Cerro Jumil gold project. The
Company, together with Euroscandic, has initiated dialogues with non-equity
capital sources with the aim of awarding a mandate to lead the debt portion of
the anticipated project financing. It is the Company's intention to appoint a
Lead Arranger during the first quarter of 2012. Initiating this process will
allow non-equity sources an early review and participation in the feasibility
study to ultimately expedite the financing.
Euroscandic is an independent company specialized in the natural resources and
raw materials sectors, offering investment banking and corporate advisory
services including project finance advisory.
About Esperanza
Esperanza is focused on advancing the development of its principal property, the
wholly-owned Cerro Jumil gold project in Morelos State, Mexico. It is also
actively investigating 11 other exploration interests in Peru and Mexico. In
October of 2010 it announced a strategic investment which resulted in a 32%
interest in Global Minerals Ltd. (TSX VENTURE:CTG), owner of the Strieborna
silver/copper project in Roznava, Slovakia.
QUALIFIED PERSON: William Bond, CPG and Vice-President, Esperanza Resources is
the Qualified Person (QP) under NI 43-101 responsible for the Cerro Jumil
exploration program. He has verified the drill results and other data disclosed
in this news release, including sampling, analytical and test data. Field work
has been conducted under his supervision. All samples were submitted to ALS
Chemex laboratories for analysis in Vancouver, Canada. Gold samples were
analyzed by fire assay and atomic absorption spectroscopy with a 30 g nominal
sample weight. Silver is analyzed by induction coupled plasma - atomic emission
spectroscopy (ICP-AES). A description of quality control and quality assurance
protocols can be found at: http://www.epzresources.com/protocols.php
SAFE HARBOUR: Some statements in this release are forward-looking in nature. The
United States Private Securities Litigation Reform Act of 1995 provides a "safe
harbour" for certain forward-looking statements. Such statements include
statements as to the potential of the Cerro Jumil property, the ability to
finance further exploration, permit drilling and other exploration work, and the
availability of drill rigs.
The forward-looking statements involve risks and uncertainties and other factors
that could cause actual results to differ materially, including those relating
to exploration and bringing properties into production. Please refer to a
discussion of some of these and other risk factors in Esperanza's Form 20-F
filed with the U.S. Securities and Exchange Commission. The forward-looking
statements contained in this document constitute managements' current estimates
as of the date of this release with respect to the matters covered herein.
Esperanza expects that these forward-looking statements will change as new
information is received and that actual results will vary, possibly in material
ways. Forward-looking statements are based on the beliefs, expectations and
opinions of management on the date the statements are made, and the company does
not assume any obligation to update forward-looking statements if circumstances
or management's beliefs, expectations or opinions should change. For these
reasons, investors should not place undue reliance on forward-looking
statements.
We advise U.S. investors that while such terms are recognized and permitted
under Canadian regulations, the SEC does not recognize them. U.S. investors are
cautioned not to assume that any part or all of the mineral deposits in the
measured and indicated categories will be converted into reserves.
This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States of America. The
securities have not been and will not be registered under the United States
Securities Act of 1933 (the "U.S. Securities Act") or any state securities laws
and may not be offered or sold within the United States or to U.S. Persons (as
defined in the U.S. Securities Act) unless registered under the U.S. Securities
Act and applicable state securities laws, or an exemption from such registration
is available.
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Cerro Jumil Drill Results
January 4, 2012
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From To Interval Grade
Drill Hole (meters) (meters) (meters) (grams gold/ tonne)
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RCHE-11-217 Condemnation hole
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RCHE-11-218 Condemnation hole
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RCHE-11-219 246.0 279.0 33.0 0.82
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includes 256.5 265.5 9.0 2.00
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RCHE-11-220 87.0 109.5 22.5 2.51
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includes 87.0 100.5 13.5 3.61
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RCHE-11-220 162.0 192.0 30.0 1.13
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RCHE-11-221 22.5 33.0 10.5 1.72
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RCHE-11-221 109.5 127.5 18.0 1.03
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RCHE-11-222 1.5 42.0 40.5 1.56
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RCHE-11-223 No significant intervals
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RCHE-11-224 No significant intervals
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RCHE-11-225 No significant intervals
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RCHE-11-226 Maiz Target - Condemnation hole
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RCHE-11-227 Maiz Target - Condemnation hole
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RCHE-11-228 Maiz Target - Condemnation hole
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To view a map of the 2012 Cerro Jumil Prject Drill Hole Locations, please visit
the following link: http://media3.marketwire.com/docs/epz104m.jpg.
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