VANCOUVER, British Columbia, May 25, 2011 (GLOBE NEWSWIRE) -- Soho Resources Corp – (TSX-V:SOH) (OTCQX:SOHFF) ("Soho" or the "Company") is pleased to announce assay results for initial surface and underground sampling from the La Salvadora Zone within its Jocuixtita Silver Project, located in Sinaloa, Mexico.
Highlights of the sampling results are as follows,
|
Total Width of Sample Line |
Weighted Averages of all samples along sample line | |||
| Silver g/t | Gold g/t | Lead % | Zinc % | |
| 6.3 Meters | 246.47 | 0.63 | 1.02 | 5.44 |
| 4.6 Meters | 238.4 | 0.64 | 0.67 | 3.51 |
| 4.35 Meters | 189.24 | 0.54 | 1.01 | 6.76 |
| 3.1 Meters | 80.58 | 0.63 | 0.9 | 3.53 |
| 1.75 Meters | 134 | 1.22 | 0.69 | 5.05 |
Results presented herein represent a series of either, channel samples cut with a diamond saw, or continuous hammer chip samples, collected across the mineralized Salvadora Zone. Individual samples are not more than 1.75 m in width and where necessary, up to five individual samples were collected along a single sample line. In all cases sample lines do not represent the full width of the mineralization, as all individual samples at both ends of all sample lines ended in mineralization. In addition, on surface, overburden cover restricted sampling the true thicknesses of the zone.
Maps displaying the location of the La Salvadora Zone within the Jocuixtita Property, plus individual sample locations, detailed assay results and photographs of the sample sites, where available, can be viewed at the following link on the company's website. http://www.sohoresources.ca/index.php?nav=24
"I am excited to deliver these assay results to our shareholders as they confirm that the La Salvadora Zone is strongly mineralized with high grade silver and significant gold, lead and zinc, mineralization over good widths. With the diamond drill now on site and commencing core drilling operations, we will soon understand the depth and strike extension of this strongly mineralized zone," states Mr. Ralph Shearing, president and CEO.
Detailed assay results are as follows,
| ADIT (CAVE) 4 - LA SALVADORA ZONE | |||||||||||||||
| DESCRIPTION OF SURFACE AND UNDERGROUND SAMPLING AT THE JOCUIXTITA PROJECT - MAY 2011 | |||||||||||||||
| Sample Number | Location | Datum WGS 84 |
Width Meters |
Type | Description |
Silver g/t |
Gold g/t |
Lead % |
Zinc % |
Total Width of Sample Line |
Weighted Averages of Sample Line See Map @ www.sohoresources.ca/Jocuixtita_Geo_Map.html |
||||
| X | Y | Silver g/t | Gold g/t | Lead % | Zinc % | ||||||||||
| 102801 | Pit Cave 4 | 372,660.564 | 2,684,264.014 | 1.15 | Continuous chip | Qtz bx, 15-20% black sulfides (Sphal) and 5% Py | 34 | 0.197 | 0.529 | 4.24 |
2.35 meters |
36.04 |
0.18 |
0.44 |
4.05 |
| 102802 | Pit Cave 4 | 372,659.562 | 2,684,263.454 | 1.20 | Continuous chip | To footwall and similar to the above | 38 | 0.155 | 0.354 | 3.86 | |||||
| 102803 | Pit Cave 4 | 372,662.912 | 2,684,262.055 | 1.75 | Channel | Qtz bx, 10-15% black sulfides (Sphal>>gal) | 134 | 1.22 | 0.688 | 5.05 | 1.75 meters | 134.00 | 1.22 | 0.69 | 5.05 |
| 102804 | Pit Cave 4 | Underground | 1.55 | Channel |
50 cms at hw abundant black sulfides. Sil-chlo-py another part |
122 | 0.474 | 1.64 | 4.53 | ||||||
| 102805 | Pit Cave 4 | Underground | 1.15 | Continuous chip |
Silica with gray stains of chlo-py. 30 cms at fw with clays |
12 | 0.042 | 0.064 | 0.239 | ||||||
| 102806 | Pit Cave 4 | Underground | 1.20 | Continuous chip | Argilized block within faults. Little quartz and black sulfides | 45 | 0.306 | 0.277 | 1.275 | 6.3 Meters | 246.47 | 0.63 | 1.02 | 5.44 | |
| 102807 | Pit Cave 4 | Underground | 1.65 | Continuous chip |
White qtz bx covered by whitish stains (zinc oxides). 30-40% sphal>gal>arg |
729 | 1.525 | 1.51 | 13.25 | ||||||
| 102808 | Pit Cave 4 | Underground | 0.75 | Continuous ship | Similar to the above but less sulfide content | 124 | 0.363 | 1.295 | 4.79 | ||||||
| 102809 | Adit Cave 4 | Underground | 1.40 | Channel | Qtz bx with whitish oxides. 15-20% black sphal>gal>arg | 220 | 0.877 | 0.71 | 5.12 | ||||||
| 102810 | Adit Cave 4 | Underground | 1.20 | Channel | Similar to the above | 49 | 0.401 | 0.456 | 1.59 |
4.6 Meters |
238.40 |
0.64 |
0.67 |
3.51 |
|
| 102811 | Adit Cave 4 | Underground | 1.05 | Channel | Similar to the above | 50 | 0.293 | 0.428 | 1.795 | ||||||
| 102821 | Adit Cave 4 | Underground | 0.95 | Channel | Qtz Bx cut by qtz and Zn-Pb sulfides (5-10%) | 713 | 0.981 | 1.15 | 5.47 | ||||||
| 102812 | Adit Cave 4 | Underground | 1.35 | Channel | Qtz bx. 10-15% black sulfides, notorious fine galena | 428 | 0.649 | 1.605 | 9.61 | ||||||
| 102813 | Adit Cave 4 | Underground | 1.40 | Channel |
Qtz bx cut by sparse qtz-sphal-gal (5-10%) |
45 | 0.26 | 0.856 | 3.65 | 4.35 Meters | 189.24 | 0.54 | 1.01 | 6.76 | |
| 102814 | Adit Cave 4 | Underground | 1.60 | Channel | Similar to the above but less sulfide content (sphal-fine gal) and py | 114 | 0.685 | 0.655 | 7.08 | ||||||
| 102815 | Adit Cave 4 | Underground | 0.80 | Channel |
Qtz bx close to a low angle slickenside. Little sulfides and Py |
55 | 0.228 | 1.1 | 2.99 | ||||||
| 102816 | Adit Cave 4 | Underground | 1.30 | Channel |
Qtz bx cut by sparse qtz-sphal-gal (5-10%) more py |
86 | 0.451 | 0.922 | 2.6 | 3.1 Meters | 80.58 | 0.63 | 0.90 | 3.53 | |
| 102817 | Adit Cave 4 | Underground | 1.00 | Channel | Similar to the above | 94 | 1.175 | 0.71 | 5.18 | ||||||
| 102818 | Adit Cave 4 | Underground | 1.50 | Channel | Qtz bx. Aprox. 10% black sulfides (sphal-fine gal) and py | 34 | 0.764 | 0.522 | 4.18 |
2.45 Meters |
51.06 |
0.64 |
0.38 |
2.80 |
|
| 102819 | Adit Cave 4 | Underground | 0.95 | Channel | Qtz bx with minor black sulfides content (5%) | 78 | 0.457 | 0.164 | 0.614 | ||||||
| 102820 | Adit Cave 4 | Underground | 1.40 | Channel | At the stope of the adit. Qtz Bx with 10-15% black sulfides | 62 | 0.387 | 0.382 | 4.01 | 1.40 Meters | 62 | 0.387 | 0.382 | 4.01 | |
Samples were shipped from site to ALS-Chemex's sample preparation facility in Guadalajara, Mexico with pulps being shipped by ALS-Chemex to their analytical laboratory in Vancouver, BC, Canada where final analysis is conducted. Gold and silver are analyzed by Fire Assay. Lead and zinc are analyzed by multi acid digestion and atomic absorption.
Analytical accuracy and precision are monitored by the analysis of reagent blanks and reference materials at the labs. Quality control is further assured by the insertion by Soho personnel of blind certified standard reference material and blanks into the sample stream at regular intervals.
About the Jocuixtita Project
The 4,332 hectare Jocuixtita Property hosts a number of northwest and northeast trending epithermal vein structures, mineralized with silver, gold, lead and zinc. The principle structure hosting the El Carmen – La Salvadora – El Eden historic mine workings appear to extend over a minimum of 3 km of strike length. The La Salvadora and El Carmen Zones are separated by approximately 700 m of strike length and both zones contain historic underground workings on several different levels.
Assuming success in the initial drill program the company will organize a subsequent drill campaign with the principal intent of tracing the mineralized structures between these two zones and thereafter, along strike.
The Company considers the Jocuixtita Property to be a premier unexplored silver project within the Sierra Madre Occidental. Road accessible, near the town of San Ignacio, Sinaloa, Mexico, the project is close to all necessary infrastructures for successful development. Based upon historic records and work completed to date by the Company, management believes Jocuixtita has excellent potential to develop into a significant silver project and will hopefully, be a large contributor to the Company's current strong resource base, contained within its flagship Tahuehueto Project.
About Soho Resources Corp
Soho Resources Corp. is an exploration and development company strategically focused on gold, silver and base metals in the prolific Sierra Madre Belt of Mexico.
The Company has two active projects, the Jocuixtita Silver Project which is the subject of this news release and its flagship Tahuehueto Project in Durango State where on October 4, 2010 the Company announced the results of a Preliminary Economic Assessment ("PEA") completed by Snowden Mining Industry Consultants Inc. You can view the complete report at the following address, http://www.sohoresources.ca/pdf/PEA_Snowden_Oct29_2010.pdf
Key findings from the report included:
| Summary of PEA Estimates | |
| Net cash flow | $US 184.2 million |
| Net present value (NPV) 5% discount | $US 109.6 million |
| Internal rate of return % | 31% |
| Payback period (months) | 27 |
| Mine life (years) | 11 |
| Maximum processing rate (tonnes/annum) | 1,000,000 |
| Capital and start-up costs | $US 89.1 million |
| Note: Calculations based on a 3 year rolling average of metal prices at the end of August 2010 | |
| Currency - US$ Gold: 965.81, Silver: 15.38, Copper: 2.92, Lead: 0.95, Zinc: 0.88 | |
The Tahuehueto Project is a classic epithermal system hosting multiple structures traced for up to six kilometres of strike length. Considerable upside exploration potential remains within the explored structures containing the defined resources, both down dip and along strike, as well as within numerous other unexplored mineralized structures.
Qualified Persons
This press release was prepared under the supervision and review of Ralph Shearing, President and CEO of Soho Resources Corp., a Professional Geologist, and Qualified Person as defined by NI 43-101.
Definitions used in this release are consistent with those adopted by the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Council in December 2005, as amended, and prescribed by the Canadian Securities Administrator's National Instrument 43-101 and Form 43-101F1, Standards of Disclosure for Mineral Projects. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
ON BEHALF OF THE BOARD OF DIRECTORS
(signed) "Ralph Shearing"
Ralph Shearing, Chief Executive Officer
"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."
WARNING: The Company relies upon litigation protection for "forward-looking" statements. This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of up-coming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Soho Resources Corp. relies upon litigation protection for forward-looking statements.