Esperanza Updates Promising Exploration Prospects

• Published in: Marketwire p. 1
• Format: Trade Publication Article
• Language: English
• Published: Toronto Intrado Digital Media Canada Inc 24.07.2007

El Sabinal, Chihuahua - This 24,000 hectare concession was staked in the northeast portion of this historic mineral district. Previously underground high-grade silver production came from chimneys and veins developed in limestones intruded by igneous stocks. Various reports dating from the 1920's stated that bonanza chimney deposits had head grades averaging 2,900 ounces of silver per ton (99,400 grams per tonne). However, these may have been hand-sorted samples. Sampling of old waste dumps by [Esperanza] has produced results as high as 9.9 grams per tonne gold and 4,890 grams per tonne silver. Pucarana, Arequipa - The Pucarana project is a joint-venture with Canadian Shield Resources. Esperanza can earn up to 60% by funding exploration expenditures. Geologic investigation suggests evidence of a high-sulfidation hydrothermal system bounded by a major fault zone. Targets consist of both bulk-tonnage and vein-type precious-metal mineralization. Reconnaissance sampling has encountered 2.9 grams per tonne gold. Detailed mapping and sampling are underway. Drill targets should be determined shortly. Drilling will commence upon the receipt of all necessary permits and subject to the availability of drill rigs. Cerro Colpa, Huancavelica - The Cerro Colpa Project is 100% owned by Esperanza consisting of 3,000 hectares in Huancavelica Department. It was initially identified as a result of grassroots investigations by Esperanza. Field reconnaissance and rock sampling identified a 500 meter by 200 meter breccia zone in volcanic rocks with assays up to 100 grams per tonne silver and anomalous pathfinders. Geologic mapping and sampling are being performed to identify targets for follow-up trenching and drilling.