BEDFORD, NS,
Sept. 6, 2013 /CNW/ - NSX Silver
Inc. (TSXV: NSY) has recently completed a strategic review of
its Mexican exploration property portfolio, taking into
consideration the exploration results generated to date and an
evaluation of the risk-reward profile associated with undertaking
further exploration for each of its mining concessions. As a
result of this review, the directors of NSX Silver have determined
that the Company's future exploration efforts will be best
positioned by focusing on its three wholly-owned mining concessions
(Oso Blanco, Oso Blanco 2 and Piedras del Norte) comprising approximately
6,000 hectares and located in Sonora State. The work
completed on these concessions to date has identified several
mineralized zones which NSX Silver's technical consultants consider
to have excellent potential for further discoveries.
With respect to the Dios Padre Property,
comprised of the Dios Padre, Dos Carlos and Alajandro mining
concessions totaling 285 hectares, while the 2012 and 2013 drill
campaigns generated multiple high grade silver intercepts, it has
not as yet delivered the makings of an economic deposit and
accordingly NSX Silver has informed the property owner that it is
terminating the option agreement.
Oso Blanco Mining Concession
The highly prospective Huerigo area was first
identified by NSX Silver in 2012 and now comprises 8 km2
of highly prospective ground in the western portion of the Oso
Blanco 2 concession. A total of five anomalous zones have now
been identified in the Huerigo area. Anomalous zones were
defined by elevated silver-lead-copper assay values supported by
multi-element assay values that exceed the statistical background
populations. Background levels for silver, lead, and copper
are 1.3, 18, and 20 ppm respectively.
Efforts to date have focussed on two of these
zones; the Los Tajos Zone to the south and the Chipahuiri
Zone to the north. These zones are located approximately
5 kilometers apart and both have had only limited exploration
conducted in the past. Highlight results were press released on
June 11, 2013 and are listed
below;
Los Tajos Zone:
- 3.41 grams per tonne gold and 95 grams per tonne silver in a 2
meter trench
- 189 grams per tonne silver and 0.174 grams per tonne of gold in
a 2 meter trench
- 141 grams per tonne of silver in a 2 meter trench
Chipahuiri Zone:
- 42.2 grams per tonne silver over a continuous channel of 14
meters in close proximity to an old mine working, including one
sample grading 190 grams per tonne silver and 0.284 grams per tonne
gold and a second of 33.5 grams of silver and 0.347 grams of Gold ,
each over 2 meters
Further information regarding these two zones is
set out in the Company's June 11,
2013 press release.
Oso Blanco 2 and Piedras del Norte Mining Concessions
NSX Silver announced the discovery of two new
mineralized zones, the Santa Rosalita Zone and the La
Prieta Zone, in its press
release dated May 16, 2013.
The Santa Rosalita Zone is located immediately
north of the town of Santa Rosa.
Mineralization in this zone occurs in a shear zone of indeterminate
size that is obscured by heavy overburden in an area with difficult
access due to dense vegetation. Initial sampling results
returned a high value of 2,030 grams per tonne silver.
At the La Prieta Zone NSX Silver has identified
a 700 meter long narrow shear zone, approximately 0.5 to 1.2 meters
in width that hosted the old La
Prieta polymetallic mine (copper, lead, zinc, gold, and
silver). Testing and trenching along this zone indicates that
high values of silver and gold occur along much of its length. Of
the 41 samples taken along the strike of the shear, 31 samples
(76%) exceeded the assigned background silver value of 5 grams per
tonne. Anomalous assays along the length of the zone range from
trace to a high value of 352 grams per tonne silver and from trace
to a high value of 9.4 grams per tonne gold. Of note is the
fact that most of the higher grade silver samples also returned
significant gold values. Three other anomalous zones have been
identified to date in this area.
Recent Acquisition
NSX Silver also announces that it has acquired
two new mining concessions totaling approximately 800 hectares in
area, by way of application to the Mexican government. These
concessions are located in the central portion of Sonora
State. The decision to acquire these concessions is based on
the favorable geology of the region and the highly anomalous values
for silver and gold which occur in vein systems in the area.
An initial exploration program for this property is presently being
developed.
The Company also continues to evaluate
additional acquisition opportunities in Sonora State and adjacent
states.
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 owns three mining
concessions (Oso Blanco, Oso Blanco 2 and Piedras del Norte) comprising approximately
6,000 hectares of prospective ground situated in the prolific
Sierra Madre Occidental. 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,
2012, 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
SOURCE NSX Silver Inc.