TORONTO, ONTARIO — (Marketwire) — 02/20/13 — Eurotin Inc. („Eurotin“ or the „Company“) (TSX VENTURE: TIN), is pleased to provide the following update for its Oropesa tin project located in southern Spain, which includes an important new geological interpretation of its mineralized zones. The new interpretation was developed subsequent to the Company-s first mineral resource estimate (prepared in accordance with National Instrument 43-101) discussed below.
The 2011/2012 Oropesa Drill Program
By the end of 2012, the Company had completed Phase 1 of its drill program of 211 core holes at Oropesa, totalling 45,466 metres. A summary of the drill results is shown below:
Phase 1: Averages of All Drill Intercepts – See Appendix for Full Details(i)
Approximately 95% of the above intercepts occurred at vertical depths of less than 180 metres and represent tin mineralization that can potentially be mined through the use of low cost, open pit methods.
The Company reported its first resource on October 9, 2012 (the „2012 Resource Estimate“), as shown below:
The highest tin grades are found in five distinct mineralised zones along a 1,500 metre long, continually mineralized structure. A further three new mineralized zones were found subsequent to the 2012 Resource Estimate; evidence for these three new zones is provided by the discovery drill intercepts shown below:
Oropesa-s Tin Deposits
In its October 9, 2012 press release, the Company revealed that it had not been possible to demonstrate continuity of mineralization between many of the high grade intercepts at Oropesa and therefore they had to be treated as isolated intercepts, which made a negligible contribution to both the tonnage and the tin content in the 2012 Resource Estimate.
A re-assessment of the geology at Oropesa was undertaken during the final quarter of 2012, which resulted in the following conclusions:
To view Schematic 1 – Oropesa: Line 3 Cross Section, please visit the following link: .
To view Schematic 2 – Oropesa: Cross Section Through a Typical Mineralized Structure, please visit the following link: .
Tin mineralization, other than in metallurgically complex skarns, is typically found following a fault, or fracture system, down to its original granite tin source. As the schematics demonstrate, Oropesa-s unusual mineralization zones are found in large, intensely folded, structures. These zones may represent part of a stacked sequence of structures continuing down to a hidden granite located at depth.
Not surprisingly, problems were often encountered in demonstrating continuity of high grade mineralization in the wireframe model used for the 2012 Resource Estimate. This was mainly due to: i) relatively wide drill spacings, ii) the irregular crescent shape of the mineralization, and iii) difficulties in interpreting the continuation of the tin bearing structures across oblique N/S faults.
Demonstrating continuity of mineralization is an essential pre-requisite for an accurate resource calculation. Based on the new interpretation, a new wireframe model is now close to completion, which demonstrates better continuity of the high grade drill intercepts, and has formed the basis for a proposed 30 hole infill drilling program.
2013-s Exploration Targets
In addition to the comprehensive infill drilling program designed for 2013, the Company is also planning the following:
Conclusion
Peter Miller, Eurotin-s President & CEO comments: „The results of the successful 2011/12 drill program are shown below and clearly demonstrate the Oropesa district hosts a major tin mineralization event. Now that we understand its geology, a major and significant milestone has been achieved in our plans to develop a major, open pit, mining operation by mid-2016. The next step, planned for third quarter 2013, will be to prepare a new resource estimate, which should more accurately reflect Oropesa-s unusual geological structures.“
Appendix: Phase 1 Oropesa-s Drill Results
Assay and QA/QC Methodology for Oropesa Drill Core
All core produced is taken daily from each drill site to the Company-s secure facility in Fuente Obejuna, where it is logged by the Company-s geologists. This process takes place under the supervision of Qualified Person Victor Guerrero Merino, Euro.Geol.
The core, usually of around one metre length, which is chosen by the Company-s geologists for assaying, is then cut in half either at the Company-s own facilities at Fuente Obejuna or at ALS Chemex-s sample preparation facility in Seville in southern Spain.
At the ALS Chemex facility, the cut core is logged into the in house LIMS tracking system, after which each sample is prepared using procedure code -Prep 31-. This procedure involves the drying, weighing and fine crushing to 70% passing -2mm. A 250g split of the crushed material is then pulverised to greater than 85% passing 75 microns. Samples are then shipped by bonded courier to Vancouver for analysis.
In Vancouver, ALS Chemex procedure ME-XRF10 is used for tin analysis and ME-ICP61 for multi-element (33) analysis. The ME-XRF10 procedure uses 0.9g of calcined sample pulp, which is mixed with 4.5g of lithium tetraborate and 4.5g of lithium metaborate. This mixture is then fused at 1,100 degrees C to produce a flat molten disc, which is subsequently analysed by XRF spectrometry. ALS Chemex analyses its own standard samples and blanks, plus duplicates, within each set of samples provided by the Company. The Company has recently introduced its own blanks and standards as a further means of checking the accuracy of the assay results. One in every 15 samples analysed by ALS Chemex is then sent to SGS-s laboratories in Cornwall, UK, for check assaying for tin. The Company keeps all its sample pulps and rejects in locked steel containers at its secure storage facility in Fuente Obejuna.
The Company recently completed a new check assay program using five certified laboratories. The pulp sample composites used had varying tin grades; the accuracy of the results obtained was within acceptable parameters.
Mr. Victor Guerrero Merino, an independent geological consultant and a Qualified Person pursuant to NI 43-101, has reviewed and approved the technical information in this news release on behalf of the Company.
Forward-Looking Statements
Results presented in this press release are exploratory in nature. Historical data, if mentioned, should not be relied upon, as they are not admissible under NI 43-101 rules and the Company has not conducted sufficient testing to verify this type of information. In addition, this press release includes certain forward-looking statements within the meaning of Canadian securities laws that are based on expectations, estimates and projections as of the date of this press release. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.
Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: timely implementation of anticipated drilling and exploration programs; the successful completion of new development projects, planned expansions or other projects within the timelines anticipated and at anticipated production levels; the accuracy of reserve and resource estimates, grades, mine life and cash cost estimates; whether mineral resources can be developed; title to mineral properties; financing requirements, general market conditions, and the uncertainty of access to additional capital; changes in the world-wide price of mineral commodities; general economic conditions; and changes in laws, rules and regulations applicable to the Company. In addition to being subject to a number of assumptions, forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to be materially different from those expressed or implied by such forward-looking statements. The Company has no intention or obligation to update the forward-looking statements contained in this press release.
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.
Contacts: Eurotin Inc. David Danziger Director (416) 641-4940
Only registered users can comment.
