TSX:SPM
VANCOUVER, April 11 /CNW/ - Scorpio Mining Corporation (TSX:SPM) is
pleased to announce the discovery of a new zone of mineralization at the 100%
owned Nuestra Senora project, Sinaloa State, Mexico.
Peter J. Hawley, Chairman, CEO reports, "The results in Table 1,
including discovery hole NS8L-07-58, show once again that the area surrounding
the known mineralized zones remains under explored and offers excellent
potential to add significant tonnage proximal to the existing underground
infrastructure. Not only are there excellent opportunities down plunge from
the current Level 11, but as this demonstrates, significant new discoveries
can still be made which could immediately impact our mine planning and improve
our average tons per vertical metre."
The reported underground drill holes were collared on Level 8
(approximately 130 metres below surface) and drilled to explore beyond the
historic footwall limit of the Main Zone. At a depth of 89.9 metres, roughly
60 metres past the footwall contact, the discovery hole NS8L-07-58 crossed a
new zone of skarn mineralization in an area previously thought to be barren.
Assay results received to date are presented in Table 1.Table 1. 8th Level Underground Drill Results - Footwall Zone
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Hole No. From To Length Ag Au Cu Pb Zn
(m) (m) (m) (g/t) (g/t) % % %
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NS8L-07-58 89.90 103.50 13.60 74 0.180 0.46 1.54 2.60
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including 96.20 103.50 7.30 115 0.262 0.73 2.23 3.87
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NS8L-07-188 116.70 119.30 2.60 823 0.157 0.10 2.55 2.60
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NS8L-07-190 101.70 103.70 2.00 145 0.311 0.64 4.31 10.31
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NS8L-07-191 79.90 81.10 1.20 131 0.276 0.11 2.16 1.72
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NS8L-07-193 93.20 104.70 11.50 169 0.360 0.55 3.08 5.18
-------------------------------------------------------------------------The new zone, dubbed the Footwall Zone, is located in an area
historically thought to be principally composed of fresh barren limestone.
Only limited drilling has been completed to date and further drilling is
planned later this year in order to evaluate its dimensions and grade.
Recent drilling has focused principally on defining known mineralized
zones with only limited exploration drilling completed. The Company expects to
focus some of its drilling efforts toward finding new resources in order to
replace the zones it expects to exploit in the future years.
Drill hole data in Table 1 reflects down hole core lengths and actual
(uncut) grades. True widths cannot be reliably estimated at this time. Further
information on the Company and the Nuestra Senora project is available on the
Scorpio Mining web site at: www.scorpiomining.com.
President, Mr. D. Roger Scammell, PGeo, is the Company's Qualified Person
for the Nuestra Senora project. Mr. Scammell is responsible for the current
exploration and development program and has reviewed the content of this
release. All technical information for the Nuestra Senora property is obtained
and reported under a formal quality assurance and quality control (QA/QC)
program. Samples are shipped to the ALS Chemex preparation laboratory in
Hermosillo, Mexico for drying, crushing and pulverizing. ALS Chemex,
Hermosillo then sends the pulps by air-freight to ALS Chemex, Vancouver for
assaying. Systematic assaying of standards and blanks are performed for the
precision and accuracy; check assays are regularly conducted by SGS Lakefield
Research. Details of the QA/QC program are available on the Company's website.
ON BEHALF OF SCORPIO MINING CORPORATION
Peter J. Hawley
Chairman & CEO
This news release includes certain statements that may be deemed
"forward-looking statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian securities
legislation. Forward-looking statements include, but are not limited to,
statements with respect to the future price of silver, zinc, copper, lead and
gold, the timing of construction and production activities, the mine life of
the Nuestra Senora Project, the economic viability and estimated internal rate
of return of the Nuestra Senora Project, the estimation of mineral reserves
and mineral resources, the results of drilling, estimated future capital and
operating costs, projected mineral recovery rates, requirements for additional
financing and Scorpio Mining Corporation's commitment to, and plans for
developing the Nuestra Senora Project. Generally, these forward-looking
statements can be identified by the forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "projects", "intends", "anticipates", or "does not anticipate",
or "believes", or "variations of such words and phrases or state that certain
actions, events or results "may", "can", "could", "would", "might", or "will"
"be taken", "occur" or "be achieved". Forward-looking statements are subject
to known and unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of Scorpio
Mining Corporation to be materially different from those expressed or implied
by such forward-looking statements, including but not limited to: risks
related to the exploration and potential development and construction of the
Nuestra Senora Project, risks related to international operations,
construction delays and cost overruns, the actual results of current
exploration, development and construction activities, conclusions of economic
evaluations, changes in project parametres as plans continue to be refined,
future prices of silver, zinc, copper, lead and gold, as well as those factors
discussed in the sections relating to risk factors of our business filed in
Scorpio Mining Corporation's required securities filings on SEDAR, including
its Annual Information Form date March 27, 2007. Although Scorpio Mining
Corporation has attempted to identify important factors that could cause
results to differ materially from those contained in forward-looking
statements, there may be other factors that cause results to be materially
different from those anticipated, described, estimated, assessed or intended.
There can be no assurance that any forward-looking statements will
provide accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. Scorpio Mining Corporation
doses not undertake to update any forward-looking statements that are
incorporated by reference herein, except in accordance with applicable
securities laws.
For further information: Glenn Little, Jackson Little Holdings Ltd:
(604) 930-4375, 1-888-930-4375, Email: jlconsulting@telus.net; Rich Kaiser,
YES International: 1-800-631-8127, 001-757-306-6090 (outside North America),
Email: yes@yesinternational.com
