Esperanza Begins Drilling at Colqui Orcco Project, Peru
20 May 2011 - 3:06AM
Marketwired
Esperanza Resources Corp. (TSX VENTURE: EPZ)(PINK SHEETS: ESPZF) is
pleased to announce that drilling at its 100% owned Colqui Orcco
project has started. The drill plan includes 1,800 meters in 12
diamond-drill core holes and may be expanded depending on results.
Colqui Orcco (Silver Hill) is a greenfields prospect in Cuzco
Department, southern Peru, with concessions comprising of 700
hectares. Esperanza geologists discovered three steeply dipping
quartz veins and breccia structures up to 2.7 meters wide and
totaling 2,500 meters in length. Channel samples of the veins
yielded silver values up to 4,984 g/t Ag and gold values of 1.3 g/t
Au. The vein textures, metal ratios, anomalous geochemical
indicators, and accompanying alteration are all suggestive of the
uppermost portion of a silver rich hydrothermal system. The targets
are bonanza vein ore bodies at depth.
More information on Colqui Orcco and our Peru exploration
program can be found 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. He has verified the data disclosed
in this news release, including sampling, analytical and test data.
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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