Eurotin's Oropesa Commences First Mineral Resource Calculation
17 Avril 2012 - 10:31PM
Marketwired Canada
Eurotin Inc. ("Eurotin" or the "Company") (TSX VENTURE:TIN), is pleased to
provide the following drill results and update on its Oropesa tin project,
located in SW Spain.
Highlights:
-- Extensional drilling outside the main ore zones at Oropesa encountered
high grade mineralization with key intercepts of 11.1m @ 0.78% Sn from
170.0m (ORPD-82), 8.0m @ 1.13% Sn from 141.3m (OROP-86) and 5.2m @ 0.98%
Sn from 116.4m (ORPD-87).
-- Preparation for the calculation of the first mineral resource has
commenced and the initial National Instrument 43-101-Standards of
Disclosure for Mineral Projects ("NI 43-101") compliant resource is
expected to be published by the end of Eurotin's first fiscal quarter of
2013 (ending June 30, 2012).
-- New structural interpretation reveals probable location of Oropesa's
granite tin source.
Drilling summary:
Drilling in western Oropesa has now been completed. The new drill grid (50m
x 50m) in central Oropesa is expected to provide the bulk of the first
mineral resource.
Oropesa's first RC drill rig has become fully operational.
The drill results reported in the table below should not be considered as
being representative as:
1. They were deliberately drilled on the periphery of the main tin zones to
define the limits of mineralization for mineral resource calculation
purposes, or
2. Were drilled in a 100 metre wide upthrown block, where the higher grade
primary zones have been mostly removed by erosion.
Drilling is now underway to the east of the upthrown block and is regularly
intersecting mineralized zones up to 60-80 metres thick. The primary
mineralized zones appear to thicken significantly to the east. There are
currently around 45 holes with assays pending.
The most recent drill results are shown below:
----------------------------------------------------------------------------
Est.
True
From Length Width Tin - Sn
Hole No. Dip & Azimuth (m) To (m) (m) (m) (%) Comment
----------------------------------------------------------------------------
ORPD-82 60 degrees @ 96.3 123.6 27.5 0.27%
200 degrees
----------------------------------------------------------------------------
170.0 181.1 11.1 0.78% Primary
Zone
----------------------------------------------------------------------------
226.4 227.3 0.9 0.73%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
ORPD-83 60 degrees @ NSV Beyond
200 degrees Northern
Fault
----------------------------------------------------------------------------
----------------------------------------------------------------------------
ORPD-84 60 degrees @ 82.3 85.4 3.1 0.69% Fault
200 degrees
----------------------------------------------------------------------------
----------------------------------------------------------------------------
ORPD-85 60 degrees @ 157.7 169.9 12.2 0.22% South of
200 degrees Primary
Zones
----------------------------------------------------------------------------
----------------------------------------------------------------------------
ORPD-86 60 degrees @ 114.1 119.3 5.2 0.34%
200 degrees
----------------------------------------------------------------------------
141.3 152.8 11.5 0.86%
----------------------------------------------------------------------------
Inc. 141.3 149.3 8.0 1.13% Primary
Structure
----------------------------------------------------------------------------
210.8 216.8 6.0 0.54%
----------------------------------------------------------------------------
232.8 236.8 4.0 0.47%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
ORPD-87 60 degrees @ 89.5 94.2 4.7 0.54%
200 degrees
----------------------------------------------------------------------------
97.7 99.5 1.8 1.04%
----------------------------------------------------------------------------
108.6 121.6 13.0 0.51% Primary
Structure
----------------------------------------------------------------------------
Inc. 116.4 121.6 5.2 0.98%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
ORPD-88 60 degrees @ 12.8 16.9 4.1 0.44% Upthrown
200 degrees Block
----------------------------------------------------------------------------
116.3 125.9 9.6 0.21%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
ORPD-89 60 degrees @ 155.5 165.5 10.0 0.27% Upthrown
200 degrees Block
----------------------------------------------------------------------------
----------------------------------------------------------------------------
ORPD-90 60 degrees @ 20.4 23.4 3.0 0.59% Upthrown
200 degrees Block
----------------------------------------------------------------------------
37.5 39.3 7.5 0.46%
----------------------------------------------------------------------------
107.4 145.5 38.1 0.28%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
ORPD-91 60 degrees @ 63.2 67.1 3.9 0.81% Top of
200 degrees Primary
Structure
----------------------------------------------------------------------------
----------------------------------------------------------------------------
ORPD-92 60 degrees @ 0.0 29.7 29.7 0.27% Upthrown
200 degrees Block
----------------------------------------------------------------------------
33.7 58.6 22.9 0.24%
----------------------------------------------------------------------------
135.2 140.2 5.0 0.58%
----------------------------------------------------------------------------
221.0 223.0 2.0 1.11%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
ORPD-93 60 degrees @ NSV Beyond
200 degrees Northern
Fault
----------------------------------------------------------------------------
----------------------------------------------------------------------------
ORPD-94 60 degrees @ 66.3 79.2 12.9 0.32% South of
200 degrees Primary
Zones
----------------------------------------------------------------------------
----------------------------------------------------------------------------
ORPD-95 60 degrees @ 63.0 70.1 7.1 0.40%
200 degrees
----------------------------------------------------------------------------
197.2 202.1 4.9 0.34%
----------------------------------------------------------------------------
204.1 206.1 2.0 2.01% Top of
Primary
Structure
----------------------------------------------------------------------------
----------------------------------------------------------------------------
ORPD-97 60 degrees @ 94.5 100.9 6.4 0.41% South of
200 degrees Primary
Zones
----------------------------------------------------------------------------
Note 1: A cut-off grade of 0.20% tin has been used.
Note 2: Figures shown in bold represent significant tin results of Width (m)
x Grade (%) exceeding a value of 6.
Calculation of Oropesa's First Mineral Resource
The Company has determined a cut-off date for drilling for the calculation
of Oropesa's first mineral resource as being April 12, 2012.
The resource calculation is expected by the end of the Company's first
quarter and will be prepared under the supervision of SRK Consulting (UK)
Ltd of Cardiff, UK, who will be responsible for its completion in accordance
with NI 43-101.
The new resource will be calculated using approximately 120 core holes and
15 RC drill holes. The resource will be primarily directed towards that
mineralization.
Latest Developments at Oropesa
1. A recent study undertaken of the Oropesa district's structural geology
has indicated the presence of a large, circular structure with a
diameter of approximately 7.0kms - see below. This structure is
currently interpreted as potentially representing the outline of the
original, deep seated, granite tin source.
2. The Company's geologists considered if this circular structure did
represent the original granite tin source, it should mean there would be
more 'primary', high grade, NW/SE trending, mineralised structures to
the south of the Oropesa deposits. These structures are mineralized
regional fault and shears of the Ossa Morena Zone, which appear to be
repeated every 150-250 metres.
To view Figure 1, please visit the following link:
http://media3.marketwire.com/docs/Figure1Eurotin.pdf.
3. As a result of 1 and 2 above, one drill hole, ORPD 111, was extended 150
metres beyond original target and encountered a third 'primary'
mineralized structure, consisting of three bands of semi-massive
sulphides.
4. Four areas containing tin bearing gossan (weathered sulphide rich
material) float have recently been discovered south of the Oropesa
deposits. These areas will shortly be subjected to a soil geochemistry
survey to identify new drill targets.
5. The airborne VTEM survey undertaken over the area around Oropesa in late
2011 provides further support for the proposed position of the granite
tin source. The non-blue coloured areas represent the locations of
potential sulphide mineralization.
To view Figure 2, please visit the following link:
http://media3.marketwire.com/docs/Figure2Eurotin.pdf.
6. Oropesa's two 'primary' mineralized structures are located in a 1,800
metre long wedge shape - see below. Tin mineralization, which is cut off
by a fault of unknown displacement to the north, can be followed down
dip approximately 150-200 metres in western Oropesa and by an estimated
500-700 metres in the east. The eastern side of Oropesa is cut by a
major fault, which is currently interpreted as having displaced the
mineralized structures by around 500-700 metres to the south.
To view Figure 3, please visit the following link:
http://media3.marketwire.com/docs/Figure3Eurotin.pdf.
7. Drilling in central Oropesa has recently encountered a hitherto unknown,
thick, mineralised 'replacement' structure, believed to contain modest
tin values.
8. Base line studies for a future Feasibility Study have commenced at
Oropesa, including the installation of an automatic weather station.
9. There are currently four core drills and one reverse circulation (RC)
drill at Oropesa.
Current Structural Interpretations
1. Western Half of the Known Oropesa Tin Deposits
a. A significant fault (the "Northern Fault") appears to cut off the tin
mineralization at increasing depths going eastwards. This has the effect
of increasing the length of mineralization, located down dip by
drilling, on moving to the east.
b. The tin deposits are displaced every 100-250 metres by a series of
oblique faults, trending north/south - see below.
c. The mineralization consists of relatively steep (60 degrees -70 and high
grade (approx. 0.7-2.0% Sn) 'primary' zones and relatively shallow
dipping (0 degrees -20 and lower grade (approx. 0.2-0.6% Sn)
'replacement' zones, hosted in coarse, feldspar-rich, greywacke lenses.
To view Figure 4, please visit the following link:
http://media3.marketwire.com/docs/EurotinFigure4.pdf.
To view Figure 5, please visit the following link:
http://media3.marketwire.com/docs/EurotinFigure5.pdf.
2. Proposed NE/SW Cross Section Across the Oropesa Graben Structure
To view Figure 6, please visit the following link:
http://media3.marketwire.com/docs/EurotinFig6.pdf.
The Ossa Morena Zone, which hosts the Oropesa tin deposits, is a large,
geologically complex, area crossed by numerous NW/SE trending fault and shear
structures. The tin mineralization entered these structures from a deep-seated
granite of unknown depth. The Company believes there is increasing evidence to
indicate these sub-parallel structures occur at approx. 100-200 metre intervals
at Oropesa.
Conclusion
Peter Miller, Eurotin's President & CEO, comments: "Recent developments have
reconfirmed our belief that Oropesa is an exceptional tin deposit. The
forthcoming mineral resource estimate will be a significant milestone towards
our goal of becoming a major tin producer."
Assay and QA/QC Methodology for Oropesa Drill Core
All core produced is taken daily from each drill site to the Company's secure
facility in Fuente Obejuna, where it is logged by the Company's geologists. This
process takes place under the supervision of Qualified Person Victor Guerrero
Merino, Euro. Geol.
The core, usually of around one metre length, which is chosen by the Company's
geologists for assaying, is then cut in half either at the Company's own
facilities at Fuente Obejuna or at ALS Chemex's sample preparation facility in
Seville in southern Spain.
At the ALS Chemex facility, the cut core is logged into the in house LIMS
tracking system, after which each sample is prepared using procedure code 'Prep
31'. This procedure involves the drying, weighing and fine crushing to 70%
passing -2mm. A 250g split of the crushed material is then pulverised to greater
than 85% passing 75 microns. Samples are then shipped by bonded courier to
Vancouver for analysis.
In Vancouver, ALS Chemex procedure ME-XRF10 is used for tin analysis and
ME-ICP61 for multi-element (33) analysis. The ME-XRF10 procedure uses 0.9g of
calcined sample pulp, which is mixed with 4.5g of lithium tetraborate and 4.5g
of lithium metaborate. This mixture is then fused at 1,100 degrees C to produce
a flat molten disc, which is subsequently analysed by XRF spectrometry. ALS
Chemex analyses its own standard samples and blanks, plus duplicates, within
each set of samples provided by the Company. The Company has recently introduced
its own blanks and standards as a further means of checking the accuracy of the
assay results. One in every 15 samples analysed by ALS Chemex is then sent to
SGS's laboratories in Cornwall, UK, for check assaying for tin. The Company
keeps all its sample pulps and rejects in locked steel containers at its secure
storage facility in Fuente Obejuna.
The Company recently completed a new check assay program using five certified
laboratories. The pulp sample composites used had varying tin grades; the
accuracy of the results obtained was within acceptable parameters.
Mr. Victor Guerrero Merino, an independent geological consultant and a Qualified
Person pursuant to NI 43-101, has reviewed and approved the technical
information in this news release on behalf of the Company.
Forward-Looking Statements
Results presented in this press release are exploratory in nature. Historical
data, if mentioned, should not be relied upon, as they are not admissible under
NI 43-101 rules and the Company has not conducted sufficient testing to verify
this type of information. In addition, this press release includes certain
forward-looking statements within the meaning of Canadian securities laws that
are based on expectations, estimates and projections as of the date of this
press release. There can be no assurance that such statements will prove
accurate, and actual results and developments are likely to differ, in some case
materially, from those expressed or implied by the forward-looking statements
contained in this press release. Readers of this press release are cautioned not
to place undue reliance on any such forward-looking statements.
Forward-looking statements contained in this press release are based on a number
of assumptions that may prove to be incorrect, including, but not limited to:
timely implementation of anticipated drilling and exploration programs; the
successful completion of new development projects, planned expansions or other
projects within the timelines anticipated and at anticipated production levels;
the accuracy of reserve and resource estimates, grades, mine life and cash cost
estimates; whether mineral resources can be developed; title to mineral
properties; financing requirements, general market conditions, and the
uncertainty of access to additional capital; changes in the world-wide price of
mineral commodities; general economic conditions; and changes in laws, rules and
regulations applicable to the Company. In addition to being subject to a number
of assumptions, forward-looking statements in this press release involve known
and unknown risks, uncertainties and other factors that may cause actual results
and developments to be materially different from those expressed or implied by
such forward-looking statements. The Company has no intention or obligation to
update the forward-looking statements contained in this press release.
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