NSX Silver reports high grade silver drill intercepts at Dios Padre Project
June 12 2012 - 9:14PM
PR Newswire (Canada)
BEDFORD, NS, June 14, 2012 /CNW/ - NSX Silver Inc. is
pleased to report on its recently completed Phase 1 drilling
program at the Dios Padre Silver Project located in Sonora State,
Mexico. The Phase 1 drilling program was expanded to sixteen
diamond drill holes totaling 3,530 meters and assay results have
been received for the first twelve holes. Phase 1 drilling
encountered multiple intercepts of silver in a number of drill
holes with the most significant being a 50 meter intercept in hole
DP- 12-2012 that assayed 74.2 grams per tonne of silver and 0.685
grams per tonne gold. This mineralized zone is located within 20
meters of surface and could represent a bulk tonnage target and
will be the subject of additional drilling. Additionally drill hole
DP-9-2012 returned a 7.5 meter intercept that assayed 573 grams per
tonne silver including a section of 1.5 meters that graded 1,410
grams per tonne silver. The following table includes details for
the significant drill intercepts to date from the Phase 1 program:
_______________________________________________________ | Dios
Padre Silver Project | | Significant Drill Intercepts - Phase 1
Drill Program | | To Hole DP-12-2012 |
|_______________________________________________________| |Drill
Hole # | From| To|Intercept| Au| Ag|
|_____________|________|________|_________|_____|_______| |
|(meters)|(meters)| (meters)|(gpt)| (gpt)|
|_____________|________|________|_________|_____|_______|
|DP-07-2012 | 32.0| 34.0| 2.0|trace| 79.6|
|_____________|________|________|_________|_____|_______| | | 82.5|
84.0| 1.5|0.021| 254.0|
|_____________|________|________|_________|_____|_______| | |
105.0| 106.5| 1.5|0.199| trace|
|_____________|________|________|_________|_____|_______| | |
120.0| 121.5| 1.5|0.287| 40.1|
|_____________|________|________|_________|_____|_______| | |
261.0| 262.5| 1.5|trace| 41.8|
|_____________|________|________|_________|_____|_______|
|DP-08-2012 | 99.0| 100.5| 1.5|1.365| 82.6|
|_____________|________|________|_________|_____|_______|
|DP-09-2012 | 15.5| 17.5| 2.0|trace| 28.0|
|_____________|________|________|_________|_____|_______| | | 64.0|
68.0| 4.0|trace| 73.0|
|_____________|________|________|_________|_____|_______| | |
193.5| 201.0| 7.5|trace| 573.0|
|_____________|________|________|_________|_____|_______| |
Including| 195.0| 196.5| 1.5|trace|1,410.0|
|_____________|________|________|_________|_____|_______| | |
217.5| 226.5| 9.0|trace| 242.0|
|_____________|________|________|_________|_____|_______| | |
261.0| 264.0| 3.0|0.187| 183.0|
|_____________|________|________|_________|_____|_______|
|DP-10-2012 | 241.0| 244.0| 3.0|0.259| 275.6|
|_____________|________|________|_________|_____|_______|
|DP-11-2012 | 89.0| 93.0| 4.0|trace| 205.4|
|_____________|________|________|_________|_____|_______| | |
153.0| 156.0| 3.0|trace| 55.9|
|_____________|________|________|_________|_____|_______| | |
238.5| 241.5| 3.0|0.225| trace|
|_____________|________|________|_________|_____|_______| | |
268.5| 273.0| 4.5|0.072| 80.9|
|_____________|________|________|_________|_____|_______|
|DP-12-2012 | 16.5| 19.0| 2.5|trace| 180.1|
|_____________|________|________|_________|_____|_______| | | 20.5|
70.5| 50.0|0.685| 74.2|
|_____________|________|________|_________|_____|_______| |
Including| 20.5| 39.0| 18.5|0.249| 140.1|
|_____________|________|________|_________|_____|_______| | and|
34.5| 36.0| 1.5|0.444| 468.0|
|_____________|________|________|_________|_____|_______| | and|
54.0| 57.0| 3.0|0.905| 215.0|
|_____________|________|________|_________|_____|_______| | | 63.0|
67.5| 4.5|0.500| 37.5|
|_____________|________|________|_________|_____|_______| | |
123.0| 127.5| 4.5|trace| 36.9|
|_____________|________|________|_________|_____|_______| As
previously press released (see press release dated April 27, 2012)
the first six holes of the Phase 1 Program targeted a large
geophysical anomaly. The subsequent ten holes then targeted in and
beneath the area of historic mining. These ten holes
encountered mineralized zones that contained silver mineralization
intermixed with a variety of sulfide minerals. Of these, three
holes were drilled into the old mine workings, and seven holes were
focused on new prospective targets below the historic
workings. Assay results from these deeper holes reported
anomalous silver and gold values throughout much of their length
and as well they encountered thicker zones of higher grade
material. Of significance is the fact that silver
mineralization occurs in both the rock matrix and within vugs
(cavities) and fractures in rhyolite and rhyolite breccia host rock
rather than in discrete veins. This reinforces expectations of the
potential for additional higher grade mineralized zones below the
known historic mine workings and within the feeder stock that
appears to trend to the north-northeast of the Dios Padre Breccia
zone. Assays results for holes DP-13-2012 through DP-16-2012 are
pending. NSX Silver has quartered and submitted for re-assaying
selected core sections from the earlier drilling by First Majestic
(2006) and Silver Standard (1996). Additionally NSX Silver
has twinned First Majestic drill hole FMR-11 with DP-16-2012. All
data generated from this initial exploration phase, together with
the relevant historic data, will be analyzed and evaluated with a
view to preparing a comprehensive geological model that will assist
in planning the Phase 2 exploration program which will include
additional drilling. This program is expected to commence in
the fourth quarter 2012. NSX Silver also reports that it has
initiated a geochemical sampling survey over much of the 6,000
hectares of ground that it holds in the vicinity of the Dios Padre
Project. This is an early stage reconnaissance survey
focusing on specific target areas that exhibit anomalous geological
features that may present as future exploration targets. Sample
Protocol and QA/QC Drill core from all the drill holes is sawn in
half, logged, sampled, catalogued and stored for future reference.
One-half of the core is sent to ALS Chemex in Hermosillo for assay
preparation, with ICP 61 analysis of the prepared samples conducted
by ALS Chemex in Vancouver, Canada. 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. Additionally the
Company holds approximately 5,000 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. 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. NSX Silver Inc. CONTACT:
Glenn A. HolmesChief Financial Officer, NSX Silver Inc.(902)
798-1148glenn.holmes@nsgoldcorp.com
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