Welcome!

News Feed Item

Santacruz Silver Files NI 43-101 Technical Report for the Gavilanes Project on SEDAR

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/23/14 -- Santacruz Silver Mining Ltd. (TSX VENTURE: SCZ) (the "Company" or "Santacruz") announces that it has filed on SEDAR an independent NI 43-101 Technical Report titled "2013 Mineral Resource Estimate, Gavilanes Project, Durango, Mexico" (the "Report"), including the initial resource estimate for the Gavilanes silver project located in San Dimas, Durango, Mexico, as described in the Company's news release dated December 17, 2013.

The Report, with an effective date of November 13, 2013, was prepared according to NI 43-101 guidelines and in accordance with CIM Standards, by independent qualified persons. The resource estimation was completed by Gary Giroux, P.Eng. of Giroux Consultants Ltd. and utilized a geological model completed by Hans Smit, P.Geo and Fletcher Bourke, P.Geo.

Based upon a 75 gram per tonne ("g/t") silver equivalent ("AgEq") cut-off, the resources on three of seven known veins, Guadalupe, Descubridora and San Nicolas, as well as the El Hundido stockwork are as follows:


----------------------------------------------------------------------------
                         Ag      Au     Cu     Pb     Zn   Ag EQ        AgEq
           (tonnes)   (g/t)   (g/t)    (%)    (%)    (%)   (g/t)          Oz
         -------------------------------------------------------------------
Indicated   953,000   164.6    0.09   0.06   0.42   0.41   200.5   6,143,000
         -------------------------------------------------------------------
Inferred  5,399,000   124.6    0.12   0.09   0.40   0.34   163.0  28,294,000
----------------------------------------------------------------------------

In addition the Report notes the following:


--  Veins remain open along strike and to depth with intermittent surface
    exposures indicating an untested strike length;
--  The El Hundido stockwork is open down-dip and to the south;
--  Four unexplored veins offer additional potential.

Further details are below and in the Report which is also available on www.sedar.com and the Company's website www.santacruzsilver.com.

Arturo Prestamo, President and CEO, remarked, "The completion of this report is significant to the Company as it shows the potential the Company has in the future to add to its asset base. The drilling to date has only focused on a small portion of the more than 8,800+ hectare Gavilanes property. We remain committed to building a strong mid-tier silver producer with assets in Mexico and we will make prudent decisions in these difficult markets on the best methods to advance all of our assets."

Mineral Resources:

The tables below summarize results of the estimates and provide a range over various cut-off grades:


Resource classed as Indicated within Mineralized Solids:
----------------------------------------------------------------------------
            Tonnes Greater
Cut-off       Than Cut-off            Grade Greater Than Cut-off
----------------------------------------------------------------------------
AgEq                           Ag     Au    Cu    Pb    Zn   AgEQ       AgEq
(g/t)             (tonnes)  (g/t)  (g/t)   (%)   (%)   (%)  (g/t)         Oz
----------------------------------------------------------------------------
50               1,294,000  132.4   0.08  0.05  0.38  0.36  163.7  6,810,000
----------------------------------------------------------------------------
75                 953,000  164.6   0.09  0.06  0.42  0.41  200.5  6,143,000
----------------------------------------------------------------------------
100                735,000  194.6    0.1  0.06  0.46  0.46  234.2  5,534,000
----------------------------------------------------------------------------
140                524,000    238   0.11  0.07  0.48   0.5  280.9  4,732,000
----------------------------------------------------------------------------

Resource classed as Inferred within Mineralized Solids:
----------------------------------------------------------------------------
            Tonnes Greater
Cut-off       Than Cut-off            Grade Greater Than Cut-off
----------------------------------------------------------------------------
AgEq                           Ag     Au    Cu    Pb    Zn   AgEQ       AgEq
(g/t)             (tonnes)  (g/t)  (g/t)   (%)   (%)   (%)  (g/t)         Oz
----------------------------------------------------------------------------
50               8,336,000   94.2   0.10  0.08  0.34  0.29  127.0 34,038,000
----------------------------------------------------------------------------
75               5,399,000  124.6   0.12  0.09  0.40  0.34  163.0 28,294,000
----------------------------------------------------------------------------
100              3,978,000  149.1   0.12  0.10  0.44  0.38  190.4 24,352,000
----------------------------------------------------------------------------
140              2,548,000  183.6   0.12  0.10  0.52  0.47  230.9 18,916,000
----------------------------------------------------------------------------

The metal prices used in the silver equivalent estimate are listed below.


                              Factor
Ag - US$ 21.55 per ounce      0.69 $/gm
Au - US$ 1318.00 per ounce    42.37 $/gm
Cu - US$ 3.25 per pound       71.65 $/%
Pb - US$ 0.97 per pound       21.38 $/%
Zn - US$ 0.87 per pound       19.18 $/%

The equation to establish Ag Equivalent is then:
AgEq = (Cu%x71.65)+(Pb%x21.38)+(Au g/tx42.37)+(Ag g/tx0.69)+(Zn%x19.18)
       ----------------------------------------------------------------
                                     (0.69)

100% recovery has been assumed for all metals in the silver equivalent estimate. At this stage of the project no metallurgy has been completed and the reader is cautioned that 100% recoveries are never achieved.

The Company has the right to acquire a 100% interest in the Gavilanes property, consisting of the Gavilanes I, Gavilanes II, and Gavilanes MHM Fraccion claim groups, pursuant to option agreements with three different property vendors. The Company must make aggregate cash payments of US$2,650,000 with respect to the Gavilanes I and Gavilanes II claim groups at various dates up to and including May 1, 2014, and a payment of US$1,000,000 on commencement of commercial production from the Gavilanes MHM Fraccion in order to fulfill the terms of the respective option agreements. In addition, the mineral claim vendors have retained net smelter royalties of 3%, 2% and 3% with respect to the Gavilanes I, Gavilanes II and Gavilanes MHM Fraccion, respectively. The 2% net smelter royalty on the Gavilanes II claim group is payable to a maximum of US$1,000,000 and may be purchased by the Company at any time for US$1,000,000. The 3% net smelter royalty on the Gavilanes I claim group is payable to a maximum of US$ 2,000,000.

Qualified Persons

All scientific and technical information included in this press release has been reviewed and approved by Gary Giroux, P.Eng., Fletcher Bourke, P.Geo., and Hans Smit, P.Geo who are all independent of the Company and each of whom is a qualified person, pursuant to the meaning of such terms in National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Santacruz Silver Mining Ltd.

Santacruz is a Mexican focused silver company with a producing project (Rosario); two advanced-stage projects (San Felipe and Gavilanes) and an early-stage exploration project (El Gachi). The Company is managed by a technical team of professionals with proven track records in developing, operating and discovering silver mines in Mexico. Our corporate objective is to become a mid-tier silver producer.

'signed'

Arturo Prestamo Elizondo, President, Chief Executive Officer and Director

Neither the 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.

Forward looking information

Certain statements contained in this news release, specifically the resource estimate and any future exploration work at Gavilanes, constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including: that the Company's financial condition and development plans do not change as a result of unforeseen events, that the Company obtains required regulatory approvals, that the Company is able to satisfy future payment obligations pursuant to the property agreements by which it holds the Gavilanes property as described in the Report, that the mineralization at Gavilanes conforms with the geological model as described in the Report, that a high mineral recovery rate is achievable, that the Company continues to maintain a good relationship with the local Gavilanes agrarian community, that required infrastructure upgrades at Gavilanes, as described in the Report, are made, and that future metal prices reflect or exceed those used in the resource estimate as a result of future demand for metals. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, which could result in delays, or cessation in planned work, that the Company's financial condition and development plans change, delays in regulatory approval, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company's expectations, as well as the other risks and uncertainties applicable to mineral exploration and development activities and to the Company as set forth in the Company's Annual Information Form filed under the Company's profile at www.sedar.com. There can be no assurance that any forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. The Company undertakes no obligation to update forward-looking information or statements, other than as required by applicable law.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
Many banks and financial institutions are experimenting with containers in development environments, but when will they move into production? Containers are seen as the key to achieving the ultimate in information technology flexibility and agility. Containers work on both public and private clouds, and make it easy to build and deploy applications. The challenge for regulated industries is the cost and complexity of container security compliance. VM security compliance is already challenging, ...
As cloud and storage projections continue to rise, the number of organizations moving to the cloud is escalating and it is clear cloud storage is here to stay. However, is it secure? Data is the lifeblood for government entities, countries, cloud service providers and enterprises alike and losing or exposing that data can have disastrous results. There are new concepts for data storage on the horizon that will deliver secure solutions for storing and moving sensitive data around the world. ...
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
As machines are increasingly connected to the internet, it’s becoming easier to discover the numerous ways Industrial IoT (IIoT) is helping to shape the business world. This is exactly why we have decided to take a closer look at this pervasive movement and to examine the desire to connect more things! Now if you need a refresher on IIoT and how it is changing the world, take a moment and listen to Greg Gorbach with ARC Advisory Group. Gorbach believes, "IIoT will significantly change the worl...
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
What a difference a year makes. Organizations aren’t just talking about IoT possibilities, it is now baked into their core business strategy. With IoT, billions of devices generating data from different companies on different networks around the globe need to interact. From efficiency to better customer insights to completely new business models, IoT will turn traditional business models upside down. In the new customer-centric age, the key to success is delivering critical services and apps wit...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty ...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit y...
Cloud computing changed data analytics for good. It enabled companies to drastically decrease resources and architecture previously assigned with business intelligence departments. It also enabled laymen to run advanced business analytics. Cloud was also the architecture of choice for storing and processing big data. Data piling is a continuous process, which is going to explode with emerging Internet of Things concept. Answer to this issue developers found in new concept called fog computing. ...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo New York Call for Papers is now open.
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will discuss the vast to...
SYS-CON Events announced today that Enzu, a leading provider of cloud hosting solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to foc...
SYS-CON Events announced today the How to Create Angular 2 Clients for the Cloud Workshop, being held June 7, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Angular 2 is a complete re-write of the popular framework AngularJS. Programming in Angular 2 is greatly simplified. Now it’s a component-based well-performing framework. The immersive one-day workshop led by Yakov Fain, a Java Champion and a co-founder of the IT consultancy Farata Systems and...