New Gold and Silver Discovery at Ninobamba, Central Peru
Trench Channel sample returns 98.9 g/t Silver and 1.03 g/t Gold over 56 metres
Toronto, Ontario CANADA, July 12, 2012 /FSC/ - Rio Silver Inc. (RYO - TSX Venture), is pleased to announce that the Company has made a new gold and silver discovery at it's 100% owned 2100 hectare Ninobamba project, located approximately 330 kilometres southeast of Lima, in the Department of Ayacucho, Peru. Trench TR-01 was channel sampled in an area showing extensive characteristic high sulphidation alteration mineral assemblages and returned the first extensive gold mineralization at Ninobamba. The gold mineralization demonstrates that the epithermal system at Ninobamba shows typical precious metals zonation,
North-South channel sampling along trench TR-01 returned 142 metres grading 0.48 g/t Au and 55 g/t Ag along its entire length. Three distinct zones of mineralization are exposed in TR-01. The initial 20 metres starting from the southern end of the trench returned 41 g/t Ag and no gold. The new gold/silver zone is exposed in the middle of the trench and returned 56 metres averaging
1.03 g/t Au and 98.9 g/t Ag. An additional 14 metres immediately north of the gold zone returned 14 metres averaging 0.22 g/t Au and 57 g/t Ag. See the plan map and table of results below:
http://www.usetdas.com/pr/riosilver07122012002.jpg
-***-
Silver From To Interval Au Ag
Zone m m m g/t g/t
------------------------------------
TR-01 0 2 2 0.000 26.2
------------------------------------
TR-01 2 4 2 0.000 50.9
------------------------------------
TR-01 4 6 2 0.000 43.7
------------------------------------
TR-01 6 8 2 0.000 28.6
------------------------------------
TR-01 8 10 2 0.220 178.9
------------------------------------
TR-01 10 12 2 0.000 17.4
------------------------------------
TR-01 12 14 2 0.000 2.2
------------------------------------
TR-01 14 16 2 0.000 4.5
------------------------------------
TR-01 16 18 2 0.133 46.3
------------------------------------
TR-01 18 20 2 0.137 11.4
------------------------------------
20 0.049 41.0
metres g/t g/t
Au Ag
-****-
-***-
Gold-Silver From To Interval Au g/t Ag g/t
Zone m m m
---------------------------------------------
TR-01 52 54 2 0.285 38.2
---------------------------------------------
TR-01 54 56 2 1.625 204.0
---------------------------------------------
TR-01 56 58 2 1.002 169.5
---------------------------------------------
TR-01 58 60 2 0.479 11.7
---------------------------------------------
TR-01 60 62 2 0.132 7.9
---------------------------------------------
TR-01 62 64 2 3.300 153.0
---------------------------------------------
TR-01 64 66 2 3.739 334.0
---------------------------------------------
TR-01 66 68 2 2.301 249.4
---------------------------------------------
TR-01 68 70 2 1.024 102.9
---------------------------------------------
TR-01 70 72 2 0.669 88.4
---------------------------------------------
TR-01 72 74 2 0.019 8.6
---------------------------------------------
TR-01 74 76 2 0.009 5.8
---------------------------------------------
TR-01 76 78 2 0.016 7.1
---------------------------------------------
TR-01 78 80 2 0.019 11.3
---------------------------------------------
TR-01 80 82 2 1.141 136.1
---------------------------------------------
TR-01 82 84 2 1.060 149.8
---------------------------------------------
TR-01 84 86 2 3.806 326.0
---------------------------------------------
TR-01 86 88 2 1.032 88.7
---------------------------------------------
TR-01 88 90 2 0.978 77.6
---------------------------------------------
TR-01 90 92 2 0.640 57.8
---------------------------------------------
TR-01 92 94 2 0.833 79.3
---------------------------------------------
TR-01 94 96 2 0.431 72.5
---------------------------------------------
TR-01 96 98 2 0.821 93.6
---------------------------------------------
TR-01 98 100 2 1.090 94.4
---------------------------------------------
TR-01 100 102 2 0.300 32.6
---------------------------------------------
TR-01 102 104 2 0.340 54.7
---------------------------------------------
TR-01 104 106 2 1.360 71.4
---------------------------------------------
TR-01 106 108 2 0.480 43.7
---------------------------------------------
56 metres 1.03 98.9
g/t Au g/t Ag
-****-
-***-
Silver From To Interval Au g/t Ag g/t
Zone m m m
-----------------------------------------
TR-01 108 110 2 0.100 23.0
-----------------------------------------
TR-01 110 112 2 0.180 33.0
-----------------------------------------
TR-01 112 114 2 0.140 17.6
-----------------------------------------
TR-01 114 116 2 0.070 33.0
-----------------------------------------
TR-01 116 118 2 0.030 25.5
-----------------------------------------
TR-01 118 120 2 0.060 11.3
-----------------------------------------
TR-01 120 122 2 1.000 255.8
-----------------------------------------
14 metres 0.22 57
g/t Au g/t Ag
-****-
Trench 01 exposed strongly altered volcaniclastic rocks along its north-south trend. TR-01 was placed to expose at surface the extensive silver mineralization encountered in AngloGold's drilling in 2001. Historic Hole AN-02 was drilled on an azimuth of 313? with dip of minus 65? and returned starting from a 9 metre depth, 130 metres of 87 g/t Ag. Since AN-02 was off section from TR-01 and gold mineralization was not indicated in any previous drilling by AngloGold, the precious metal zonation may be sharp and well defined at Ninobamba. An extensive alteration zone is present (east) of TR-01 and was not previously drilled and mineralization appears to be open in that direction.
This trenching program is the first exploration work undertaken by the Company at Ninobamba following up on the historical silver drill results of previous operators. The Company would like to thank the local Community members for their co-operation, diligence and hard work during this productive first phase of exploration.
The Company believes that there exists considerable potential at Ninobamba to host a bulk tonnage, disseminated silver and gold deposit. The disseminated precious metal mineralization at Ninobamba is hosted within a Tertiary age volcaniclastic unit which is extensive. Previous exploration targeted two distinct NEE-SWW mineral and alteration zones. Large alteration zones accompany these zones and further trenching and sampling is required to determine their dimensions.
To view the Ninobamba schematic, click onto the link below:
http://www.usetdas.com/pr/riosilver07122012003.jpg
Geochemical samples were collected by Mine Gate Exploration SA personnel using rock saws cutting continuous channels in bedrock averaging 2.5 inches wide and 3.5 inches deep. Samples were collected every 2-metres irrelevant of geological boundaries. The quality of the sampling is considered high quality and representative of the grade of the mineralized system at surface. The attached photos show the channels in TR-01 and sample locations are currently being surveyed.
To view the photos, click onto the links below:
http://www.usetdas.com/pr/riosilver07122012005.gif
http://www.usetdas.com/pr/riosilver07122012007.gif
Standards and blanks were inserted for internal quality assurance/quality control. Under chain of custody the samples were delivered to Inspectorate Services Peru SAC, in Callao, Peru which is an ISO 9001:2000 certified laboratory at the global level with ABS QUALITY EVALUATIONS. The samples were prepared for analysis by standard procedures and were analyzed for 32 elements determined by multi-element ICP (inductively coupled plasma) with aqua regia digestion. Silver was assayed for by acid digestion with an atomic absorption finish (Ag-4-OR) and gold was analyzed separately by fire assay with an atomic absorption finish (1AT FA-AA)". Jeffrey Reeder, P.Geo., Director of the Company is the Qualified Person who has reviewed and is responsible for the technical data contained in this news release.
ON BEHALF OF THE BOARD OF DIRECTORS OF
RIO SILVER INC.
T John Magee
CEO and President
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
For more information contact:
T John Magee, P.Geo.
Tel: (416) 479-9546
Website: www.riosilverinc.com
To view this press release as a webpage, please click on the following link:
http://www.usetdas.com/pr/riosilver07122012.htm
Source: Rio Silver Inc. (TSX:V - RYO)
Maximum News Dissemination by FSCwire. http://www.fscwire.com
Google Übersetzer
