Vancouver – Channel sampling by Esperanza Silver (EPZ-V, ESPZF-O) and Silver Standard Resources (SSO-T, SSRI-Q) on the San Luis joint venture, in central Peru, has extended the strike of the Ayeln vein.
Eight new channel cuts across the Ayeln vein returned high-grade gold and silver values, including:
- Channel A19 averaging 98.1 grams gold per tonne and 1,567 grams silver per tonne across 4.5 metres; and
- Channel A19-1 that returned 3.3 metres grading 89.5 grams gold and 2,196 grams silver.
The sampling program, which has tracked northwards, extends the strike of high-grade mineralization in the Ayeln vein to about 350 metres, and it remains open to the north and potentially southwards. Over its 350-metre tested length, the vein averages about 3.25 metres in width and grades 51.7 grams gold and 1,077 grams silver.
The Ayeln vein has been identified over 750 metres and is adjacent to the Ins vein, which has been traced over 2 km. The San Luis project contains five identified vein structures with a cumulative strike of at least 5 km, indicating a significant high-grade, epithermal system.
The 50-50 joint venture plans to continue testing the strike potential of Ayeln, to be followed by sampling of the Ins vein. A drill program to test the depth extent of the veins is planned for June 2006.
Silver Standard is funding the next US$500,000 of exploration to earn an additional 5%, and can boost its interest to 80%, in phases, by advancing the project to production.
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