Vancouver - Capitan Mining Inc. (TSXV: CAPT) ('Capitan' or the 'Company') is pleased to report continued exploration results from five (5) reverse circulation drillholes at its 100% owned Jesus Maria Silver Zone, at the Cruz de Plata Project (Formerly referred to as Penoles), Durango, Mexico.
Highlights
Hole 21-JMRC-10 (Upper Zone): returned 16.8m of 332 g/t AgEq beginning at 22m from surface and included: 9.1m 538.7 g/t AgEq including; 1.5m of 2,406.3 g/t AgEq - Best Intersection to date at Jesus Maria
Hole 21-JMRC-10 (Lower Zone): returned 13.7m of 186.3 g/t AgEq beginning at 58m from surface and included: 7.6m of 308.8 g/t AgEq
Hole 21-JMRC-06 (Upper Zone): returned 13.7m of 146.4 g/t AgEq including 3.0m of 271.45 g/t AgEq
Hole 21-JMRC-06(Lower Zone): returned 4.6m of 188.9 g/t AgEq including 1.5m of 448.16 g/t AgEq
Hole 21-JMRC-08 returned 1.5m of 349.7 g/t AgEq within 7.6m of 149.3 AgEq
All five (5) drillholes being reported successfully intersected Jesus Maria style mineralization
Assays are pending for 14 holes with drilling ongoing at the Cruz de Plata Project
Step-out drilling Confirms Continuity of Jesus Maria Silver Mineralization at Depth
Infill holes Confirm Continuity of High-grade Mineralization
The current drilling campaign has completed 21 holes at the Jesus Maria zone. The drillholes reported herein were all step-out holes, except for hole 21-JMRC-06 and 21-JMRC-10 and were designed to extend mineralization down-dip along section, with three holes targeting the eastern portion of the Jesus Maria zone, and two targeting the west-central portion, and one targeting the high-grade shoot in the central portion of the deposit.
Jesus Maria High-Grade Silver Shoot: Best Intersection at Jesus Maria to date
Hole 21-JMRC-10 was designed as a strategic infill hole that targeted a 60m wide gap in the high-grade mineralized shoot that occurs at the approximate intersection of the steeply dipping Gully Fault and shallowly dipping Jesus Maria structure. These holes play an important role in understanding the overall distribution and boundaries of high-grade mineralization at Jesus Maria and provide valuable information that help to increase the confidence in the continuity of the overall mineralization model.
Hole 21-JMRC-10 was successful in confirming the continuity of the high-grade shoot between drillholes JM_DDH_14_26 and JM_DDH_14_27 which returned 602.02 g/t AgEq over 3m and 522.34 g/t AgEq over 4.7m respectively. Additionally, Hole 21-JMRC-10 returned the best intersection to date at Jesus Maria returning 1.5m of 2,406.29 g/t AgEq within a wider interval of 16.8m of 332.4 g/t AgEq.
Step-Out and Infill Holes at Jesus Maria East
Drillhole 21-JMRC-05 located on section 700, was a 54m step-out hole that targeted the potential down-dip extension of the Jesus Maria zone. The hole intersected Jesus Maria style, polymetallic mineralization over broad widths ranging from 1.5m to 21.3m and successfully extended the zone down-dip between 25 and 60m respectively. Best results include 21.3m of 66.87 g/t AgEq including 1.5m of 185.38 g/t AgEq from 21-JMRC-05.
Hole 21-JMRC-06 was an infill hole designed to test the continuity of higher-grade mineralization that was reported in two historic holes (JM_DDH_13_ 02 and 03), where there appeared to be either an offset or apparent change in dip of the main Jesus Maria mineralized zone. The hole returned two mineralized intervals (Upper and Lower) that correlated well with the zones reported in both historic drillholes, suggesting that either the main zone has been offset by a small fault or that the Upper zone pinches out the Lower one is developing and continuing down-dip beneath it. Results from the upper zone include 13.7m of 146.46 g/t AgEq, including 3.0m of 271.45 g/t AgEq. The lower zone returned a narrower interval of 1.5m of 448.16 g/t AgEq (lower zone).
Step-Out Drilling at Jesus Maria West
Holes 21-JMRC-08 and -09 were step-outs from drillholes 21-JMRC-04 and JM_DDH_16 respectively and were designed to extend to Jesus Maria zone down-dip to the south, while also exploring for new higher-grade mineralization at depth. Both holes intersected the Jesus Maria zone returning zones of mineralization of similar size and grade to those found up-dip, with generally higher base metal contents compared to the central and eastern portions of the deposit. The best results include 7.6m of 149.3 g/t AgEq including 1.5m of 349.72 g/t AgEq in hole 21-JMRC-08.
Capitan's CEO, Alberto Orozco, stated: 'I am very excited with the first drill results from the Jesus Maria silver zone. The grades reported have been quite impressive and have broadened the existing zones of silver mineralization at Cruz de Plata.
'With only 9 holes reported to date, assay results are showing excellent continuity of the Jesus Maria vein and further definition of the Gully Fault zone. We have also identified new veins and mineralized zones in the footwall of the Jesus Maria vein, which we feel, demonstrates the significant potential to expanding this compelling silver opportunity at our Cruz de Plata project.'
About the Jesus Maria Silver Project
The Jesus Maria (JM) Silver Project is located approximately 280m to the northeast of the Capitan's Oxide Gold deposit on its 100% owned Cruz de Plata property. It has been traced by surface trenching and diamond drilling over a strike length of 750m and to a depth of 150m, with the majority of drilling focused over 250m strike length and less than 100m below surface.
The Jesus Maria Silver Project has a long mining history going back to the late 1800's, when the Penoles Mining company constructed several shafts and drifts to exploit the high-grade silver veins in the area. In recent years, work programs conducted by previous operators has demonstrated significant potential at the Jesus Maria silver deposit. The work to date has identified Two (2) distinct styles of silver mineralization: 1. High-grade silver polymetallic veins (Silver gold lead-Zinc) 2. High-grade silver with gold veins
About Capitan Mining Inc.
Capitan Mining is a well-funded junior exploration company focused on its 100% owned gold and silver Penoles Project in Durango, Mexico. The company is led by a management team that has successfully advanced and developed several heap leach operations in Mexico over the past 16 years.
Contact:
Alberto Orozco
Tel: (778) 327-6671
Fax: (778) 327-6675
Email: info@capitanmining.com
Web: www.capitanmining.com
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., 'expect',' estimates', 'intends', 'anticipates', 'believes', 'plans'). Such information involves known and unknown risks-including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Capitan in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
CAPITAN SILVER CORP. 