NSX Silver Reports High-Grade Silver Samples and Identifies Four Large Poly-Metallic Anomalies at its Oso Blanco II Concession
19 Août 2012 - 1:55PM
PR Newswire (Canada)
BEDFORD, NS, Aug. 21, 2012 /CNW/ - NSX Silver Inc. is pleased to
report on results obtained from a property-wide rock-chip
geochemical survey being carried out on its Oso Blanco II
concession located in the State of Sonora, Mexico approximately 270
kilometers east of Hermosillo. Silver values up to 545 grams
per tonne were returned from the samples and four large
poly-metallic anomalies have also been delineated. NSX Silver has
completed a Phase 1 geochemical survey on a portion of its
wholly-owned Oso Blanco II concession, which is located 5
kilometers from the Company's Dios Padre Silver Project. The
geochemical survey covered a 5 km(2) portion of part of the Oso
Blanco II concession known as the Wierigo Zone. An additional
3 km(2 )of the Huerigo Zone remains to be sampled. The Company was
attracted to the previously unexplored Huerigo Zone by alteration
in surface rocks that is similar to that seen at the Dios Padre
Project. A total of 677 rock chip surface samples were taken
at approximate intervals of 100 meters and shipped to ALS Chemex
for assay. Of the total samples taken, 201 samples (29% of the
total samples) contain anomalous values for one or more
metals. Anomalous zones are defined by multi-point silver
assays that in many cases are supported by anomalous multi-element
assay values that exceed the background populations. Of the 201
anomalous samples, 71 samples or 35% exceeded 5 grams of silver per
tonne. Forty-seven samples reported in excess of 10 grams of
silver per tonne of which 17 samples were greater than 30 grams of
silver per tonne including 4 samples that were greater than 100
grams of silver per tonne. Lead values as high as 2.05% and copper
values as high as 1.56% were also returned, as well as, anomalous
values for molybdenum (0.66% and 0.3%). The geochemical survey
identified four large anomalies that have been determined to be
targets warranting further exploration. These targets are
hosted in the lower volcanic sequence that commonly hosts mineral
deposits in the Sierra Madre Occidental. Metals such as lead,
zinc silver, copper, and molybdenum may occur coincident with other
metals in the same anomaly, but not all metals occur in all the
metal anomalies. Silver is associated with lead and appears
in three of the four anomalous zones. Copper is found
in two of the anomalous zones and to a lesser extent in a third
anomaly, whereas molybdenum appears only in one anomaly. Zinc
is coincident with lead. Phase II of the geochemical program will
involve detailed sampling on a 50 meter grid at 25 meter spacing
between samples or at any change in lithology. At least 5
trenches are planned to test the anomalous zones of silver and lead
as well as an as yet undetermined number of test pits. Sample
Protocol and QA/QC Rock chip samples were taken and bagged, sealed
and numbered on site. The sealed samples were transported by
Company personnel to ALS Chemex's preparation lab in Hermosillo
then forwarded to ALS labs in Vancouver, B.C. for testing using the
ICP-61 protocols. A selection of 10% of the samples in the
anomalous zones and 2% of those outside the anomalous zones has
been resubmitted for quality control testing. Qualified Person John
E. Hiner, Licensed Geologist and Registered Member of SME, a
qualified person as defined by National Instrument 43-101 has
reviewed and approved the information provided in this news
release. About NSX Silver NSX Silver Inc. is a mineral exploration
company actively exploring for silver and associated metals in
Mexico. NSX Silver's principal property is the Dios Padre
Project located in Sonora State, Mexico. Additionally the Company
holds approximately 5,000 hectares of prospective ground in the
vicinity of the Dios Padre Project. NSX Silver's shares are
listed on the TSX Venture Exchange under the symbol NSY.
Forward-Looking Statements This news release contains statements
that may constitute "forward-looking information" or
"forward-looking statements" within the meaning of applicable
Canadian securities legislation. Forward-looking information and
statements may include, among others, statements regarding the
future plans, costs, objectives or performance of NSX Silver Inc.
("NSX Silver"), or the assumptions underlying any of the
foregoing. In this news release, words such as "may",
"would", "could", "will", "likely", "believe", "expect",
"anticipate", "intend", "plan", "estimate" and similar words and
the negative form thereof are used to identify forward-looking
statements. Forward-looking statements should not be read as
guarantees of future performance or results, and will not
necessarily be accurate indications of whether, or the times at or
by which, such future performance will be achieved. No
assurance can be given that any events anticipated by the
forward-looking information will transpire or occur, or if any of
them do so, what benefits that NSX Silver or its shareholders will
derive. Forward-looking statements and information are based
on information available at the time and/or management's good-faith
belief with respect to future events and are subject to known or
unknown risks, uncertainties, assumptions and other unpredictable
factors, many of which are beyond NSX Silver's control. These
risks, uncertainties and assumptions include, but are not limited
to, those described under "Risks and Uncertainties" in NSX Silver's
Management Discussion and Analysis for the Year ended
December 31, 2011, which is available on SEDAR at
www.sedar.com, and could cause actual events or results to differ
materially from those projected in any forward-looking
statements. NSX Silver does not intend, nor does NSX Silver
undertake any obligation, to update or revise any forward-looking
information or statements contained in this news release to reflect
subsequent information, events or circumstances or otherwise,
except if required by applicable laws. Neither 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. NSX Silver Inc.
CONTACT: Glenn A. HolmesChief Financial Officer, NSX Silver
Inc.(902) 798-1148glenn.holmes@nsxsilver.com
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