Business & Finance
Thu, May 13, 2010Wed, May 12, 2010Tue, May 11, 2010Mon, May 10, 2010Sun, May 9, 2010Sat, May 8, 2010Fri, May 7, 2010Dia Bras Confirms High-Grade Mineralization at San Patricio Property
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Published in Business and Finance on Tuesday, May 11th 2010 at 8:00 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
MONTREAL, QUEBEC--(Marketwire - May 11, 2010) - Dia Bras Exploration Inc. (TSX VENTURE:DIB) (Dia Bras or the Company) is pleased to announce results of sampling from the San Patricio target, which is one of several targets at the Bacerac project. The Bacerac project consists of 48,500 hectares located in northeastern Sonora State near the border with Chihuahua State, Mexico, and was acquired with the EXMIN business combination.
"The San Patricio target is one of the first targets acquired from EXMIN to be advanced to the drill stage," stated Daniel Tellechea, President and CEO of Dia Bras. "Our target is an open-pitable deposit of considerable size. We expect more drill targets to be generated on the EXMIN properties this year, which will bring more advanced projects into our pipeline of projects, thereby increasing the chances of success."
Dia Bras has commenced an exploration program at the Bacerac concession in order to evaluate its mineral occurrences and to bring the San Patricio target to the drilling stage. The San Patricio target area consists of a 400 m by 600 m area of alteration and mineralization surrounding a series of small mine workings. The San Patricio mine, in the center of the mineralized area (see attached map [ http://www.diabras.com/en/newscenter/2010/SanPatricio.pdf ]), consists of a small working developed on a brecciated structure striking northeast. Sampling across the structure of the mine by EXMIN yielded high metal grades, including an interval of 9.5 metres with weighted averages of 4.95 g/t Au, 2,128 g/t Ag, 3.9 % Cu, and >10.9 % Pb (samples 6123-6126). See EXMIN news release of December 11th, 2007.
Confirmation sampling by Dia Bras over an interval of 8.3 m during the present exploration program yielded weighted averages of 2.28 g/t Au, 1,722 g/t Ag, 1.0% Cu, and 6.0% Pb (samples 11017-11019). Systematic sampling along a grid has identified an area measuring about 100 metres in a northwesterly direction around the San Patricio mine; further sampling is in progress to further define the size of the mineralized zone (see sample locations on attached map).
The project area contains Tertiary volcanic rocks consisting of rhyolitic and andesitic flows and breccias that overlie probable Cretaceous sedimentary rocks; both units locally exhibit strong alteration. Mineralization is commonly associated with strongly silicified rhyolitic rocks near the base of the unit at or near the contact with underlying sedimentary rocks. Veins are locally important. There are multiple small mines and prospects in the region.
San Patricio contains a small mine worked informally by "gambusinos" in the past. Sampling has yielded gold, silver and base metal values in a relatively flat-lying tabular breccia or manto formed at the base of rhyolitic volcanic rocks where they overlie limestone. This mineralized body contains quartz and calcite in abundant veins with no preferred orientation (stockwork breccia) as well as in breccia cement.
A large area of alteration and mineralization surrounds the San Patricio mine area and provides a large exploration target. The area is poorly exposed and is partly covered by soil.
| Table 1 – Selected Sample Assays from the San Patricio mine area | |||||
| Sample | Width | Au, g/t | Ag, g/t | Cu, % | Pb, % |
| EXMIN Samples | |||||
| 6122 | 1.3 | 0.391 | 136 | - | 0.5 |
| Samples across structure | |||||
| 6123 | 2.0 | 2.02 | 1.190 | 0.7 | 4.9 |
| 6124 | 1.0 | 0.164 | 76 | 0.1 | 0.5 |
| 6125 | 3.0 | 3.34 | 1.678 | 1.1 | 7.7 |
| 6126 | 3.5 | 9.37 | 3.636 | 9.2 | >20 |
| Samples at Portal | |||||
| 6538 | 4.0 | 0.020 | 51.5 | 0.6 | |
| 6539 | 3.0 | 0.016 | 14.0 | 0.2 | |
| 6540 | 4.0 | 0.124 | 94.2 | 1.4 | |
| 6541 | 3.0 | 0.058 | 33.7 | 0.6 | |
| 6542 | 2.5 | 0.872 | 97 | 0.6 | |
| 6543 | 3.0 | 0.357 | 132 | 0.8 | |
| Dia Bras samples across structure | |||||
| 11017 | 3.2 | 2.44 | 1.415 | 0.6 | 9.2 |
| 11018 | 2.8 | 3.60 | 2.280 | 1.7 | 1.3 |
| 11019 | 2.3 | 0.446 | 1.470 | 0.8 | 7.4 |
Sampling and mapping of the San Patricio area, and the Bacerac property in general, is on-going with the objective of drilling the target during the third quarter of 2010.
Method of Analysis
All samples taken by EXMIN in 2007, consisted of 1.2 to 2.3 kg of material, and were prepared and analyzed by ALS Chemex in their facilities in Mexico and Vancouver, respectively. Gold analyses were performed by 30 gram fire assay with an AA finish; samples with more than 10g/t gold were analyzed by fire assay and gravimetric methods. Silver and the base metals were analyzed as part of a multi-element ICP package using an aqua regia digestion; samples with more than 100 g/t silver or more than 1% base metals were analyzed by AA. Samples with more than 1,500 g/t silver were re-analyzed by gravimetric methods.
Dia Bras' samples were prepared at the ALS Chemex lab facility in Chihuahua, Mexico, and analyzed by ICP and AA methods at their facilities in Vancouver, Canada. Au is analyzed by 30 g fire assay with an AA finish. High grade over-limit assays for Ag, Pb, and Cu are re-processed by Induction Coupled Plasma (ICP) and by gravimetric methods (for Ag) at ALS Chemex.
Quality Control
The quality assurance-quality control (QA-QC) of Dia Bras has been described in detail in both RPA's NI 43-101 reports of December, 2006, at Cusi and October, 2005, for Bolivar.
The technical content of this news release has been approved by Thomas L. Robyn, Ph.D., CPG, RPG, a Director of Dia Bras, and Craig Gibson, Ph.D., Qualified Persons as defined in NI 43-101.
About Dia Bras
Dia Bras Exploration Inc. is a Canadian exploration mining company focused on precious and base metals in the State of Chihuahua and other areas of northern Mexico. The Company is committed to developing and adding value to its most advanced assets – the Bolívar copper-zinc project and the Cusi silver mining camp. The Company's shares trade on the TSX Venture Exchange under the symbol "DIB".
Forward-looking Statements:
Except for statements of historical fact all statements in this news release without limitation regarding new projects, acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
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 news release.
