Esperanza Resources Begins Drilling at Pucarana Project, Peru
28 April 2011 - 4:19AM
Marketwired
Esperanza Resources Corp. (TSX VENTURE: EPZ)(PINK SHEETS: ESPZF) is
pleased to announce that drilling at the Pucarana project has
started. The drill plan includes 2,500 meters in 10 diamond-drill
core holes.
This project is located in the Arequipa region of southern Peru,
near to the Orcopampa gold-silver mining camp. Esperanza Resources
is the operator of the joint venture, held with Estrella Gold (TSX
VENTURE: EST). The Pucarana project consists of two concessions,
totaling 1,889 hectares Pucarana is seven (7) kilometers from the
portal of the high-grade underground Chipmo mine and 15 km from the
Poracota mine, which have a combined annual production of 360,000
oz of gold and 131,000 oz of silver during 2010. Pucarana is a
gold-rich system consisting of quartz veins and silicified bodies
together with alteration similar to that observed at the nearby
Chipmo Mine. The veins and structures that are being drill tested,
trend northeast toward the active underground workings of
Chipmo.
Esperanza Resources can earn-in to 60% of the Pucarana Project
by expending US$1.3 million and making combined cash payment(s)
totaling up to US$80,000.
More information on our Pucarana and Peru exploration program
can be seen on Esperanza's website at:
http://www.epzresources.com/newproject_perumap.php.
About Esperanza
Esperanza is focused on advancing the development of its
principal property, the wholly-owned Cerro Jumil gold project in
Morelos State, Mexico. It is also actively investigating 11 other
exploration interests in Peru and Mexico. In October of 2010 it
announced a strategic investment which resulted in a 35% interest
in Global Minerals Ltd. (TSX VENTURE: CTG), majority owner of the
Strieborna silver/copper/antimony project in Roznava, Slovakia.
QUALIFIED PERSON: Mr. J. Stevens Zuker, M.Sc., Geology and
Senior Vice President, Esperanza Resources Corp. is the Qualified
Person (QP) under NI 43-101 responsible for the Peru exploration
program. He has verified the data disclosed in this news release,
including sampling, analytical and test data. Field work has been
conducted under his supervision. Gold samples were analyzed by fire
assay and atomic absorption spectroscopy with a 30 g nominal sample
weight. Silver is analyzed by induction coupled plasma - atomic
emission spectroscopy (ICP-AES). A description of quality control
and quality assurance protocols can be found at
www.epzresources.com/protocols.php.
SAFE HARBOR: Some statements in this release are forward-looking
in nature. The United States Private Securities Litigation Reform
Act of 1995 provides a "safe harbor" for certain forward-looking
statements. Such statements include statements as to the potential
of the Pucarana property, the ability to finance further
exploration, permit drilling and other exploration work, and the
availability of drill rigs.
The forward-looking statements involve risks and uncertainties
and other factors that could cause actual results to differ
materially, including those relating to exploration and bringing
properties into production. Please refer to a discussion of some of
these and other risk factors in Esperanza's Form 20-F filed with
the U.S. Securities and Exchange Commission. The forward-looking
statements contained in this document constitute managements'
current estimates as of the date of this release with respect to
the matters covered herein. Esperanza expects that these
forward-looking statements will change as new information is
received and that actual results will vary, possibly in material
ways. Forward-looking statements are based on the beliefs,
expectations and opinions of management on the date the statements
are made, and the company does not assume any obligation to update
forward-looking statements if circumstances or management's
beliefs, expectations or opinions should change. For these reasons,
investors should not place undue reliance on forward-looking
statements.
Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organization of Canada accepts responsibility for the
adequacy or accuracy of this release.
Contacts: Esperanza Resources Corp. Bill Pincus President and
CEO Toll Free: 1 866 890 5509 info@epzresources.com
www.epzresources.com
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