BEDFORD, NS, Jan. 9, 2013 /CNW/ - NSX Silver Inc. (TSXV: NSY ) is pleased to announce it has commenced a Phase 2 drilling program on the Dios Padre Silver Project in Mexico. The Dios Padre Project is located in the Eastern Sierra Madre Mountain range about midway between the cities of Hermosillo and Chihuahua, in east central Sonora. The Project is comprised of three contiguous exploitation concessions covering an area of 285 hectares which NSX Silver holds under option.
Dios Padre Phase 2 Drilling Program
The Phase 2 drilling program will consist of 2,500 to 3,000 meters of core drilling and has been designed taking into account the results of the 2012 drilling completed by NSX Silver (16 holes) as well as the 2006 drilling completed by First Majestic Resource Corp. (17 holes) and the 1996 drilling completed by Silver Standard Resources (10 holes).
The objectives of the Phase 2 program are; (1) to expand the mineralized zone at depth following the plunge of the mineralized breccia intrusive body and (2) to support a NI 43-101 compliant resource estimation for Dios Padre.
Heurigo Silver Anomaly
NSX Silver also plans to conduct a trenching program at the Heurigo Silver anomaly located 5 kilometers from the Dios Padre Silver Project. This program will entail the construction of roads exposing new bedrock occurrences and excavating deeper trenches using backhoes to expose rock at depths as much as 4 meters. The recently completed Phase 2 geochemical program successfully delineated the Huerigo Zone in detail and confirmed the internal consistency and intensity of the silver anomaly (see NSX Silver press release dated December 18, 2012).
John E. Hiner, Licensed Geologist and Registered Member of SME (Society of Mining Engineers), 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's principal property is the Dios Padre Project located in Sonora State, Mexico. Additionally the Company holds approximately 5,000 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.
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, 2011, 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.
For further information:
Glenn A. Holmes
Chief Financial Officer, NSX Silver Inc.