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Scorpio's Surface Drilling of Satellite Santa Teresa Deposit Reports 16.50 metres grading 116 g/t Ag, 5.30% Zn, 0.28% Cu, 3.44% Pb and 0.207 g/t Au followed by 132 g/t Ag, 3.61% Zn, 0.36% Cu, 3.02% Pb and 0.199 g/t Au over 14.70 metres in Same Hole
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NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Vancouver, June 27, 2007 - Scorpio Mining Corporation (TSX:SPM) is pleased to report the second set of drill results from 2007 surface drilling targeting the Santa Teresa deposit at the Company's 100% owned Nuestra Senora project, Sinaloa State, Mexico.
The Santa Teresa deposit outcrops at river level approximately 150 metres northeast of the Santo Domingo deposit and 250 metres east of the Nuestra Señora deposit.
Peter J. Hawley, Chairman, CEO reports, "The exploration team is very encouraged by the early results of the drilling from this satellite deposit. Ten holes have been drilled to date and all have intersected significant widths of mineralization. The style of mineralization has similarities to the Hoag zone, which lies adjacent to the Nuestra Senora zone at approximately 90 metres below surface.
With the impending rainy season and potential danger of flash flooding, the surface drills have now been moved out of the river valley. The drill program has provided sufficient information however, to allow for uninterrupted exploration of the Santa Teresa mineralized zone from existing underground workings of the Nuestra Señora. The 6-Level cross-cut is situated approximately 90 metres vertically below the surface and within 50 metres of the down dip extension of the zone. The Santa Teresa could potentially have a similar size and grade to that of the Hoag zone, which is planned for extraction later in the year. Should the Santa Teresa prove to be of economic size and grade, its proximity to the existing underground workings would allow for exploitation with minimal development work required."
Surface drilling at the Santo Domingo deposit, located 150 metres southwest of the Santa Teresa, has also been completed for the season and results will be reported once received and compiled.
The Company has moved one portable electric surface drill to underground to expedite follow-up drilling of the zones outlined from surface.
Table 1. Surface Drill Results - Santa Teresa
Hole #
|
From
(m)
|
To
(m)
|
Length
(m)
|
Ag
(g/t)
|
Au
(g/t)
|
Cu
%
|
Pb
%
|
Zn
%
|
NSS-07-80 |
2.80 |
12.00 |
9.20 |
46 |
0.142 |
0.09 |
1.92 |
3.40 |
|
13.00 |
14.00 |
1.00 |
47 |
0.376 |
0.08 |
2.02 |
2.07 |
|
15.00 |
16.30 |
1.30 |
54 |
0.083 |
0.10 |
2.46 |
4.75 |
|
44.20 |
50.00 |
5.80 |
95 |
0.132 |
0.26 |
4.30 |
5.61 |
|
51.00 |
53.00 |
2.00 |
80 |
0.237 |
0.11 |
3.10 |
3.40 |
NSS-07-81 |
2.40 |
6.00 |
3.60 |
85 |
0.173 |
0.13 |
3.58 |
4.79 |
|
16.50 |
18.00 |
1.50 |
40 |
0.061 |
0.06 |
1.73 |
2.45 |
|
21.00 |
37.50 |
16.50 |
116 |
0.207 |
0.28 |
3.44 |
5.30 |
|
39.00 |
53.70 |
14.70 |
132 |
0.199 |
0.36 |
3.02 |
3.61 |
Drillhole data in the table reflects down hole core lengths and actual (uncut) grades. True widths cannot be reliably estimated at this time. A plan view of the surface drilling of the Santa Teresa deposit plus further information on the Company and the Nuestra Señora project is available on the Scorpio Mining web site at: www.scorpiomining.com.
President, Mr. D. Roger Scammell, PGeo, is the Company's Qualified Person for the Nuestra Señora project. Mr. Scammell is responsible for the current exploration and development program and has reviewed the content of this release. All technical information for the Nuestra Señora property is obtained and reported under a formal quality assurance and quality control (QA/QC) program. Samples are shipped to the ALS Chemex preparation laboratory in Hermosillo, Mexico for drying, crushing and pulverizing. ALS Chemex, Hermosillo then sends the pulps by air-freight to ALS Chemex, Vancouver for assaying. Systematic assaying of standards and blanks are performed for the precision and accuracy; check assays are regularly conducted by SGS Lakefield Research. Details of the QA/QC program are available on the Company's website.
ON BEHALF OF SCORPIO MINING CORPORATION
Peter J. Hawley
Chairman & CEO
For further information contact:
Glenn Little, Jackson Little Holdings Ltd: 604-930-4375; 1-888-930-4375
Email: jlconsulting@telus.net
Rich Kaiser, YES International: 1-800-631-8127; 001-757-306-6090 (outside North America)
Email: yes@yesinternational.com
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this news release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include metal prices, exploration success, continued availability of capital and financing, and general economic, market or business conditions. |
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