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Since the last release of assays, further core drilling consisting of 48 holes (CI-53 to CI-100) for 9,823 meters has been completed on the Cieneguita project. Assay results from 4 holes CI-67, CI-69, CI-71, and CI-74 are provided below. CI-68 was drilled on the edge of the known mineralization and returned marginal values. CI-77 was drilled in an area of known low grade mineralization returning 9 meters of 1.68 g/t Au Eq. The best grades in the drilling since our last release were cut by holes CI-67 and CI-69 including 24.0 meters of 1.53 g/t Au and 107.36 g/t Ag from 47.5 to 71.5 m (CI-67) and 15.0 meters with 0.95 g/t Au and 510.24 g/t Ag (including 4.5 m of 1.41 g/t Au and 1,072 g/t Ag) from 56.0 to 71.0 m (CI-69). The complete drill hole plan and detailed assay results can be viewed on our website (www.mexoro.com).
CIENEGUITA PROJECT -- DRILLING ASSAY RESULTS
Au Eq.
(g/t)
From To Interval Au Ag Pb Zn (Au+Ag
Drilling ID (m) (m) (m) (g/t) (g/t) (%) (%) only)
------- ------- ------- ------- ------- ------- ------- -------
CI-67 22.50 40.00 17.50 0.76 77.26 0.70 1.14 1.83
------- ------- ------- ------- ------- ------- ------- -------
47.50 71.50 24.00 1.53 107.36 0.61 1.13 3.01
------- ------- ------- ------- ------- ------- ------- -------
End of hole 260.00 279.70 19.70 0.40 0.60
------- ------- ------- ------- ------- ------- ------- -------
including 278.00 279.70 1.70 0.65 1.62
------- ------- ------- ------- ------- ------- ------- -------
------- ------- ------- ------- ------- ------- ------- -------
CI-69 56.00 71.00 15.00 0.95 510.24 8.01
------- ------- ------- ------- ------- ------- ------- -------
Including 56.00 60.50 4.50 1.41 1,072 16.24
------- ------- ------- ------- ------- ------- ------- -------
95.00 99.50 4.50 1.08
------- ------- ------- ------- ------- ------- ------- -------
End of hole 289.50 312.90 23.40 0.50 0.69
------- ------- ------- ------- ------- ------- ------- -------
------- ------- ------- ------- ------- ------- ------- -------
CI-71 8.55 23.10 14.55 0.41 88.19 0.47 0.81 1.63
------- ------- ------- ------- ------- ------- ------- -------
84.30 106.20 21.90 0.51 179.15 2.99
------- ------- ------- ------- ------- ------- ------- -------
End of hole 277.50 282.85 5.35 0.91 1.41
------- ------- ------- ------- ------- ------- ------- -------
------- ------- ------- ------- ------- ------- ------- -------
CI-74 0.00 8.60 8.60 3.24
------- ------- ------- ------- ------- ------- ------- -------
48.00 55.00 7.50 0.38 233.20 3.61
------- ------- ------- ------- ------- ------- ------- -------
Table 1. Gold equivalent values are based on 72.3 grams of silver = 1 gram
of gold, calculated on gold price of US $900 and silver price of US $12.45.
The six drillholes included in this release were collared to the west of Cieneguita in the central part of the diatreme body. Continued drilling of the mineralized body at Cieneguita has confirmed that higher grade gold and silver (plus lead-zinc) mineralization is hosted by the diatreme and breccia body.
Drilling results to date continue to demonstrate the consistency and extension of the mineralization zone at Cieneguita and show the presence of high-grade areas beyond the limits of known mineralization and in areas not previously known where high-grade mineralization has been discovered. Holes CI-67, CI-69 and CI-71 have confirmed mineralization in the west portion of Cieneguita. These three holes have intersected broad intervals of mineralization and have ended in mineralization leaving the potential open to depth for lead-zinc-silver (+/-gold) mineralization. As well, the mineralization zone is still open to the west.
In addition to the current activities at Cieneguita, several other activities are underway within the Cieneguita group of concessions. A program of a detailed geological mapping, rock chip sampling and soil sampling is ongoing in the Piedras Blancas and Piedra Amarilla targets, 500 meters to the south of the main Cieneguita mineralization zone. The mapping and sampling program at Piedras Blancas and Piedra Amarilla targets is aimed to define drilling targets during 2Q 2009 and starting the drilling program in 3Q 2009.
About Mexoro:
Mexoro Minerals Ltd. is an exploration stage company focused on exploring for precious metals in the traditionally mineral rich Sierra Madre region of Chihuahua, Mexico, which controls three historical gold-silver mines for which additional exploration has confirmed significant mineral potential. Dana C. Durgin, M. Sc. Economic Geology, has recently calculated an inferred mineralization of 15.25 million tons @ 2.62 g/t gold equivalent on the Cieneguita property. The Company also has claims on additional properties in the state of Chihuahua.
The qualified person who has reviewed this release and completed the geologic modeling and the resource calculation is Dana C. Durgin, M. Sc. Economic Geology. He is a Certified Professional Geologist (CPG #10364) with the American Institute of Professional Geologists, and a Registered Professional Geologist in Wyoming (PG-2886).
This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information included in this Press Release including such forward-looking statements.
Cautionary Note to US Investors:
All mineral materials have been calculated in accordance with the definition standards on mineral resources and mineral reserves of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in Canadian National Instrument 43-101, commonly referred to as NI 43-101. U.S. SEC reporting requirements for disclosure are governed by SEC Industry Guide 7. NI 43-101 and Industry Guide 7 differ materially.
The United States Securities and Exchange Commission limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain terms in this press release, such as "reserves," "resources," "geologic resources," "proven," "probable," "measured," "indicated," or "inferred" which may not be consistent with the reserve definitions established by Industry Guide 7. U.S. investors are urged to consider closely the disclosure in our filings with the SEC. You can review and obtain copies from the SEC website at http://www.sec.gov/edgar.shtml
Contact: Stanley Wunderlich Consulting for Strategic Growth 1 T: 646-205-7765 (Direct) T: 800-625-2236 (ext 7770) Email: Email Contact
SOURCE: Mexoro Minerals Ltd.
http://www2.marketwire.com/mw/emailprcntct?id=D39A5BC1D62F33BB
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