Esperanza finds silver in Peru

Vancouver — Regional sampling by Esperanza Silver (EPZ-V) has uncovered a bulk-tonnage silver prospect at the Flor de Loto project, 150 km northeast of Lima, Peru.

Company geologists collected 163 chip samples from the newly discovered Breccia zone, which measures 450 by 80 metres. All but five returned detectable silver values, with the best grades being 62 and 54 grams silver per tonne. Of the 50 samples collected within the mineralized fault zone, 13 returned values exceeding 500 grams silver per tonne.

The Breccia zone features a broad halo of hydrothermally altered volcanic rocks adjacent to a major, east-west mineralized fault. Esperanza notes that a series of parallel and crosscutting faults within the zone appear to have allowed mineralizing solutions to leak into the surrounding country rock. Based on analyses of these and other geological features, the company believes a bulk-tonnage silver deposit may occur below the surface.

The company continued its district-scale exploration effort for at least 3 km eastward along the main fault and found widespread rock alteration similar to that found in the Breccia zone, together with numerous mineralized fractures.

More than 50 chip samples were collected along this trend, consisting of narrow veins, dykes and mineralized fractures along the fault zone. The highest values obtained from these samples were 4,688 grams silver and up to 2.2 grams gold.

Esperanza President William Pincus says the Breccia zone remains open to the north under a thin layer of soil, and that exploration will continue in that direction. The company also hopes that ongoing regional exploration will identify new targets and concession areas. Meanwhile, geophysical programs will attempt to identify targets for future drilling.

Esperanza also has silver projects in Mexico and Bolivia, plus other properties in Peru.

Flor de Loto sits at an elevation of 3,700 metres and is accessible by paved and dirt roads.

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