TORONTO, ONTARIO--(Marketwire - Oct. 24, 2011) - Eurotin Inc. ("Eurotin" or the "Company") (TSX VENTURE:TIN), is pleased to provide the following drill results and update on its Oropesa tin project, located in south west Spain.
Highlights:
| Drilling continues to intersect strong tin mineralization: | |||||
| 10.2m | @ 2.35% Sn from 128.1m | - ORPD-51 | |||
| 10.7m | @ 1.90% Sn from 55.9m | - ORPD-60 | |||
| 6.2m | @ 1.39% Sn from 109.4m | - ORPD-60 | |||
| 5.1m | @ 1.34% Sn from 133.6m | - ORPD-57 | |||
| The Company continues to reconfirm the existence of two continuous 1,300 metre long systems that usually host multiple zones of tin mineralization; these commence at surface and are believed to continue to considerable depths. | |||||
| The Company has so far drilled 89 holes in an estimated 500 hole program at Oropesa and has received assay results from ~4,900 metres of drilling. A total of 16,300 metres of core drilling has been undertaken this year. | |||||
The latest drilling results have allowed the Company to improve its understanding of the geological structures and distribution of tin mineralization at Oropesa. Two distinct types of mineralization are now recognised:
- Steeply dipping (~55°) 'primary' structures, generally 6-10 metres thick with an approximate average grade of 0.8 – 2.0% tin.
- Shallow dipping (<25°) 'secondary', or 'replacement' structures found in greywacke* sediments. These 'replacement' structures are best developed adjacent to the 'primary' structures. In addition, they are generally lower grade and thicker than the 'primary' structures. This 'replacement' mineralization – see accompanying schematic - appears to represent an attractive bulk tonnage target.
- * Greywacke: A quartzite that contains more than 15% clay and chlorite minerals as a matrix to angular and sub-rounded grains of quartz and feldspar, plus small pebbles.
A re-evaluation of current and past drill results has revealed:
- There are two, apparently similar, tin mineralized systems at Oropesa, approximately 175 metres apart. To date, only one drill hole, ORPD 11, has intersected both systems:
| 16.4-22.8m: 6.4m @ 1.25% Sn ('primary'), | |
| 185.2-194.2m: 9.0m @ 0.36% Sn ('replacement'), | |
| 198.6-213.4m: 14.8m @ 1.02% Sn ('primary'). |
- The current drill grid is intersecting tin mineralization at the very top of the 'upper system'.
- Approximately four modest, NW/SE trending, faults cross the 1,300 metre long tin mineralized systems at Oropesa.
The Company is currently drilling a 50 hole grid in an area of 200 x 250 metres to assist in its understanding of the geological controls over Oropesa's tin mineralization. This grid originally consisted of five lines, 50 metres apart, with 25 metre spacings, along each line between drill holes (see map following the table of recent drill results).
The most recent assay results received from the drill grid area are presented below:
| Hole No. | Dip & | From | To | Length | Est. True | Tin - | Comment |
| Azimuth | (m) | (m) | (m) | Width (m) | Sn (%) | ||
| ORPD-51 | 60°@ 200° | 128.1 | 138.3 | 10.2 | ~9.7 | 2.36% | 'Primary Structure' |
| 174.4 | 175.5 | 1.1 | 0.64% | ||||
| 178.4 | 180.5 | 3.4 | 0.31% | ||||
| 193.5 | 198.5 | 2.3 | 0.31% | ||||
| ORPD-53 | 60°@ 200° | NSV | South of main mineralization | ||||
| ORPD-55 | 60°@ 200° | 43.5 | 59.0 | 15.5 | 0.29% | ||
| 90.0 | 91.0 | 13.2 | ~12.5 | 0.55% | 'Primary Structure' | ||
| 178.0 | 185.4 | 7.4 | 0.48% | ||||
| 191.7 | 198.2 | 6.5 | 0.24% | ||||
| 216.6 | 221.2 | 5.6 | 0.32% | ||||
| ORPD-56 | 60°@ 200° | 227.0 | 229.0 | 2.0 | 0.58% | ||
| 239.2 | 245.4 | 6.2 | 0.39% | ||||
| ORPD-57 | 60°@ 200° | 94.6 | 96.5 | 1.9 | 1.38% | ||
| 104.3 | 112.5 | 8.2 | ~7.8 | 0.77% | 'Primary Structure' | ||
| 123.6 | 126.7 | 3.1 | 0.58% | ||||
| 133.6 | 138.7 | 5.1 | ~4.8 | 1.34% | 'Primary Structure' | ||
| 162.6 | 166.7 | 4.1 | 0.66% | ||||
| 172.6 | 176.4 | 3.8 | 0.32% | ||||
| 179.5 | 192.3 | 12.8 | 0.46% | ||||
| ORPD-59 | 60°@ 200° | 17.4 | 23.3 | 5.9 | 0.55% | ||
| 77.2 | 81.5 | 4.3 | 0.35% | ||||
| 192.3 | 195.3 | 3.0 | 0.30% | ||||
| 201.4 | 224.3 | 15.0 | ~10.6 | 0.54% | 'Replacement Structure' | ||
| ORPD-60 | 60°@ 200° | 55.9 | 66.6 | 10.7 | ~10.2 | 1.90% | 'Primary Structure' |
| 74.4 | 77.3 | 7.2 | 0.32% | ||||
| 97.1 | 106.4 | 9.3 | 0.40% | ||||
| 109.4 | 115.6 | 6.2 | ~5.9 | 1.39% | 'Primary Structure' | ||
| 175.2 | 182.3 | 7.1 | 0.38% | ||||
| 194.1 | 206.3 | 12.2 | 0.24% | ||||
| 220.2 | 229.6 | 9.4 | 0.23% |
| Note 1: A cut off grade of 0.20% tin has been used. |
| Note 2: Figures shown in bold represent significant tin results of Width (m) x Grade (%) exceeding a value of 6. |
To view a Map of the Current Drill Grid, please visit the following link: http://media3.marketwire.com/docs/euromap241.pdf
As can be seen, a minimum of three drill holes will be added to Line 3 of the grid to better define the mineralization there. An upthrow fault is expected along the north eastern side of the grid.
The schematic below shows the Company's current understanding of the two tin mineralised systems at Oropesa, as well as the recently recognised 'Replacement' structures. The impact of faulting has not been included. Greywackes are believed to make up approximately 15% of the sediments at Oropesa.
To view an image of the Concept of 'Replacement' Mineralisation, please visit the following link: http://media3.marketwire.com/docs/euromap242.pdf
Summary
Peter Miller, Eurotin's President and CEO, comments: "We have taken a major step forward in the understanding of Oropesa's geology over the past month, which has further strengthened our belief in this project's exceptional tin potential.
As a next step, we shall shortly begin an airborne geophysics study over the three Oropesa license areas (52.3km2), consisting of approximately 550 line kilometres of magnetics (for structural interpretation) and VTEM (to detect sulphides down to 400 metres in depth). This airborne study is primarily designed to identify new areas of potential tin mineralization to both the south east and south west of the known Oropesa deposits.
In addition, we are embarking on a regional stream sediment sampling program to follow up on strong, previously identified, tin anomalies."
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°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.
Contact Information:
David Danziger
Director
(416) 626-6000