BEDFORD, NS,
May 16, 2013 /CNW/ - NSX Silver
Inc. (TSXV: NSY) is pleased to announce initial results from
its ongoing detailed mapping and sampling program on the
Santa Rosalita and
La Prieta zones located on
the Piedras del Norte and Oso Blanco 1 mining concessions. These
two concessions along with the Oso Blanco 2 concession are 100%
owned by the Company and comprise approximately 6,000 hectares of
highly prospective ground in the vicinity of the Dios Padre
Project.
These concessions are situated in the Sierra
Madre Occidental in a cretaceous volcanic suite, which is
regionally denoted as the "Lower Volcanic Sequence". These
rocks are overlain and completely covered to the East by a tertiary
sequence of rhyolite tuffs and basalts regionally known as the
"Upper Volcanic Sequence". The interface between these
sequences, and in particular the upper parts of the Lower Volcanic
Sequence, is the host environment for several significant gold and
silver districts including the nearby Sahuaripa, Mulatos, Dolores and Ocampo Districts and further south
the El Sauzal discovery. The
geologic setting of these deposits varies but they all occur at or
within this highly prospective interface.
Santa Rosalita Zone
The Santa Rosalita Zone is a newly discovered
mineralized zone 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. Significant values obtained during initial
sampling in this zone include the following;
Sample
# |
Gold
(gpt) |
Silver
(gpt) |
Copper
(%) |
Lead
(%) |
Zinc
(%) |
|
|
|
|
|
|
170410 |
0.01 |
2,030 |
0.31% |
1.26% |
0.14% |
170409 |
0.01 |
93 |
0.24% |
0.48% |
0.69% |
This zone appears to be in close proximity to a
large quartz monzonite intrusive body that lies to the
south-southwest. The significance of this is that quartz
monzonite is a primary host for a number of porphyry copper
deposits in western Canada,
the United States, and
Mexico. Many of these type of
deposits are known to have high grade precious metals occurrences
on or near their peripheries. Considerable work remains to be done
to confirm the potential for porphyry copper mineralization at or
near Santa Rosalita and future
exploration in this area will focus on the potential
relationship.
La Prieta
Zone
La Prieta is a
strong shear zone with veins containing silver and it is one of the
more prominent silver occurrences located near Santa Rosalita. This mineralized zone is
located on the Oso Blanco 1 mining concession. The vein
system at La Prieta was previously
mined during the early 1900's and a substantial dual compartment
inclined shaft was found. Investigation of rocks on the dump
resulted in identification of diorite and quartz diorite intrusive
rock waste material, which likely represents the wall rocks of the
vein system. Numerous fragments of vein material disclosed
argentite, freiburgite, chalcopyrite, pyrite, barite and calcite in
a brecciated quartz vein host. The presence of these mineralized
examples in the dump suggests that mine production concentrated on
high grades, similar to the early mining at Dios Padre.
At the La
Prieta zone Company personnel have identified a 700 meter
long narrow shear zone, approximately 0.5 to 1.2 meters in width
that hosted the old La Prietapolymetallic mine (copper, lead, zinc,
gold, and silver). Significant gold and silver values from
recent sampling at this zone include the following;
Sample # |
Gold
(gpt) |
Silver
(gpt) |
Copper
(%) |
Lead
(%) |
Zinc
(%) |
170834 |
2.39 |
352 |
0.07% |
0.13% |
0.02% |
170591 |
1.35 |
236 |
0.01% |
0.05% |
0.03% |
170804 |
0.02 |
185 |
0.03% |
0.14% |
0.03% |
170714 |
2.12 |
184 |
0.01% |
0.12% |
0.01% |
170849 |
4.03 |
148 |
0.06% |
0.06% |
0.05% |
170546 |
2.98 |
143 |
0.21% |
0.15% |
0.20% |
170577 |
2.94 |
134 |
0.18% |
0.14% |
0.07% |
170860 |
1.42 |
104 |
0.17% |
0.11% |
0.35% |
170594 |
1.97 |
73 |
0.06% |
0.13% |
0.17% |
170858 |
2.03 |
52 |
0.00% |
0.60% |
0.41% |
170707 |
3.03 |
49 |
0.01% |
0.08% |
0.03% |
170712 |
9.42 |
29 |
0.01% |
0.04% |
0.00% |
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, 31samples
(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.
A second shear zone has been identified from
aerial photographs which trends northwest and which intercepts the
La Prieta shear at the point where
the highest gold sample (9.42 gram per tonne) was obtained. Most of
this structure is under the cover of overburden and will require
considerable trenching to expose and properly evaluate its mineral
potential. Significant values obtained from scattered and sparse
outcrops are encouraging and are detailed in the following
table.
Sample # |
Gold
(gpt) |
Silver
(gpt) |
Copper
(%) |
Lead
(%) |
Zinc
(%) |
170750 |
0.01 |
83 |
0.00% |
0.04% |
0.01% |
170746 |
0.01 |
75 |
0.00% |
0.05% |
0.01% |
170759 |
0.52 |
75 |
0.00% |
0.02% |
0.01% |
170749 |
0.02 |
70 |
0.00% |
0.02% |
0.01% |
170782 |
2.34 |
39 |
0.11% |
0.05% |
0.18% |
At least two other anomalous zones have been
identified approximately 500 meters south of and parallel to the
northwest trending mineralized zone. The area between these zones
is covered by dense foliage and overburden. These two newly
discovered zones occur in rock types similar to the other shear
zones. Significant samples taken from available
outcropsinclude the following;
Sample # |
Gold
(gpt) |
Silver
(gpt) |
Copper
(%) |
Lead
(%) |
Zinc
(%) |
|
|
|
|
|
|
170770 (Zone A) |
3.73 |
233 |
0.00% |
0.04% |
0.01% |
170795 (Zone B) |
0.60 |
80 |
0.01% |
0.03% |
0.01% |
170796 (Zone B) |
0.25 |
56 |
0.21% |
0.60% |
0.41% |
Additional mapping and sampling and testing of
these zones are underway to determine their relationship, if any,
to the known mineralized systems.
NSX Silver management and exploration personnel
are highly encouraged by the discovery of potentially significant
mineral targets at the Santa
Rosalita and La Prieta
zones and associated subsidiary zones. The association of
strong silver and gold anomalies in previously mined and newly
found zones peripheral to an altered quartz monzonite intrusive is
considered to be a very exciting development.The Company intends to
continue the systematic exploration of its sizeable land position
near the Dios Padre Project and is optimistic of this work
returning further positive results.
Sample Protocol
Rock chip samples were taken and bagged, sealed
and numbered on site. The sealed samples were transported by
Company personnel to ALS Chemex's preparation lab in Hermosillo then forwarded to ALS labs in
Vancouver BC for testing using the
ICP-61 protocols.
Qualified Person
John E. Hiner,
Licensed Geologist and Registered Member of SME, a qualified person
as defined by National Instrument 43-101, recently visited the
property and 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's principal property
is the Dios Padre Project located in Sonora State, Mexico which is held under option agreement.
Additionally the Company holds approximately 6,000 additional
hectares of prospective ground in the vicinity of the Dios Padre
Project. 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.