Sierra Madre Developments and Partner Riverside Resources Outline High Grade Silver in Drilling and Trench Results From Jesus...
16 Novembro 2011 - 12:00PM
Marketwired
Sierra Madre Developments Inc. ("Sierra Madre" or the "Company")
(TSX VENTURE:SMG) and its partner, Riverside Resources Inc.(TSX
VENTURE:RRI), are pleased to announce surface trench and drill
results from the Jesus Maria Mine area at the Penoles Project,
Durango Mexico. A single hole was drilled to test beneath the
historic mine workings and encountered multiple zones of
silver-gold with associated lead and zinc mineralization. The
trenching delineated aggregate mineralized zones up to 20 meters in
thickness (Trench 2), outlined new mineralization along strike, and
confirmed previous results, reported by Riverside. Six new trenches
were completed by Sierra Madre to bedrock and identified high grade
mineralized intervals up to 13.4 meters in width (Trench 4)
averaging 1.7 g/t gold, 309 g/t silver, 2.4% lead and 0.6% zinc
(including a 6.9 meter interval that averaged 3.1 g/t gold, 552 g/t
silver 4.6% lead and 0.6% zinc). Detailed trench assay data is
available on the Company's website.
The single drill hole (JM-DDH-11-01) that was completed below
the historic mine workings at Jesus Maria encountered the highest
individual silver value in this current program (1,757.7 g/t silver
from a 0.2 meter wide interval) as well as intersecting three,
mineralized intervals with an aggregate thickness of 8.5 meters.
The first interval from 156.95 to 159.95 averaged 0.5 g/t gold, 209
g/t silver, 0.6% lead and 0.9% zinc. The second interval from
165.40 to 168.25 averaged 0.2 g/t gold, 86 g/t silver, 1.3% lead
and 2.2% zinc and the third interval from 192.40 to 195.05 averaged
0.1 g/t gold, 91 g/t silver, 2.2% lead and 1.9% zinc. The 8.5 meter
aggregate assay averaged 0.3 g/t gold, 131 g/t silver, 1.3% lead
and 1.6% zinc. Detailed drill core assay data from JM-DDH-11-01 is
also included on the Company's website.
Sierra Madre CEO, Carl von Einsiedel, P.Geo. comments: The
Penoles project hosts a partially defined oxide gold target
(referred to as El Capitan), two historic silver mines (Jesus Maria
and San Rafael) and multiple early stage targets within a district
scale land package (35,000 ha.) that covers more than half of the
historic Penoles Mining District. The thickness and continuity of
the mineralized zone observed at Jesus Maria combined with the
impressive grades and widths of mineralization encountered during
the recently completed drill program at El Capitan (see press
release dated October 24, 2011) clearly confirms that the
exploration targets at Penoles have exceptional potential.
Trench Program Details:
Previous trench results announced on May 5, 2011 by Riverside at
Jesus Maria included 8.3 meters averaging 1.68 g/t gold, 144 g/t
silver, 2.4% lead and 2.2% zinc and a second trench with 22 meters
averaging 1.08 g/t gold, 224 g/t silver, 2.5% lead and 1.7% zinc.
The new trench results expand on this previous work and further
define the surface extent of silver, lead, zinc, and gold
mineralization within the Jesus Maria vein system.
The surface expression of the Jesus Maria mineralized vein zone
is not well exposed and the historic underground mine workings are
not presently accessible. The objectives of the trenching program
were to assess the grade and continuity of mineralization at Jesus
Maria and determine the average width of the mineralized zone.
Surface sampling has confirmed that mineralization extends over a
strike length of at least 475 meters. Excavator trenching (Sierra
Madre Trench No.1 to No.6) and trenching by Riverside (Riverside
Trench No.1 to No.4) has confirmed that mineralization ranges from
7.45 to 22 meters in thickness over a strike length of
approximately 275 meters. The existing mine workings are located in
the northeastern part of one of the concessions under option from
Riverside and the surface outcrop of the Jesus Maria is situated
near the northern boundary of these concessions. The Jesus Maria
concessions extend over a strike length of approximately 1.6
kilometers and cover the projected down dip extent of the Jesus
Maria mineralized zone. Additional trenching is planned to continue
tracing the western extensions of the mineralized zone.
Summary assay results obtained from the trenching completed by
both Sierra Madre and Riverside Resources and the recently
completed drill hole will be available on the Company's website at
www.sierramadredevelopments.com.
QA and QC and Qualified Person:
All trench samples were sealed in numbered plastic bags and
transported to Inspectorate Assay labs facility in Durango City, a
laboratory certified for the provision of assays and geochemical
analysis (ISO:9001-2008). All drill core were placed in numbered
boxes and transported to Sierra Madre's secure core facilities by
the drill contractor. Following detailed core logging all core was
split using a diamond bladed core saw under the direct supervision
of Sierra Madre's Geologic staff. Half of the core was kept on site
in the original core boxes, the second half was placed in labeled
and sealed sample bags which were transported directly to the
custody of Inspectorate, a laboratory certified for the provision
of assays and geochemical analysis (ISO:9001-2008). Samples were
transported to Inspectorate's facilities in Durango, Mexico for
prep work and analyzed at their facilities in Reno, Nevada. All
samples were prepared using standard industry prep methods followed
by fire assay analysis and aqua regia digest for trace elements.
All samples with greater than 10 g/t Au or 100 g/t silver were
additionally tested by fire assay with a gravimetric finish. Sierra
Madre has included industry certified Au standards and blanks
within the sample stream in addition to field duplicates as part of
the QA/QC program.
The scientific and technical data contained in this news release
were prepared under the supervision of Carl von Einsiedel, P.Geo
and CEO of Sierra Madre.
About Sierra Madre Developments: Sierra Madre is a TSX Venture
listed junior mining company based in Vancouver, British Columbia,
Canada. Management has extensive exploration and mining expertise
and the Company's business model is to acquire advanced gold and
silver projects and build shareholder value by rapidly advancing
our projects through the resource delineation stage.
ON BEHALF OF SIERRA MADRE DEVELOPMENTS INC.
Carl von Einsiedel, CEO
Certain statements in this press release may be considered
forward-looking information. These statements can be identified by
the use of forward looking terminology (e.g., "expect","
estimates", "intends", "anticipates", "believes", "plans"). Such
information involves known and unknown risks -- including the
availability of funds, the results of financing and exploration
activities, the interpretation of exploration results and other
geological data, or unanticipated costs and expenses and other
risks identified by Riverside in its public securities filings that
may cause actual events to differ materially from current
expectations. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
of this press release.
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 release.
Contacts: Sierra Madre Developments Inc. Carl von Einsiedel CEO
604-685-3357www.sierramadredevelopments.com
(TSXV:SMG)
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