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 Esperanza Announces New Atocha ResultsSeptember 7, 2004 Esperanza Silver Corporation is pleased to announce results from continued drilling at its Atocha silver project in Bolivia. Three diamond-core holes (CI-1, CI-2, and CI-3) were drilled in the Condor Iquiña prospect to test the extension of silver-rich, sandstone-hosted mantos known from earlier sampling of surface outcrops and old tunnels. The principal manto (now designated M-1) was encountered in all three drill holes and varies in thickness from 7.9 to 9.5 meters thick. Where intercepted, grades varied from anomalous (10 grams per tonne) to 227 grams per tonne (7.3 ounces per ton). The best intercepts are listed below: ----------------------------------------------------------------- Drill Interval Silver Silver Hole From To (meters) (grams/tonne) (ounces/ton) ----------------------------------------------------------------- CI-2 27.6 31.6 4.0 101 3.25 ----------------------------------------------------------------- CI-3 22.1 30.8 8.7 98 3.15 ----------------------------------------------------------------- CI-3 70.7 72.8 2.1 163 5.24 ----------------------------------------------------------------- Drill hole CI-3 also encountered five additional mantos varying in thickness from 2 to 12 meters carrying silver varying from anomalous to 217 gpt (7.0 opt). Drill holes CI-1 and CI-2 are now being deepened to intersect these same additional mantos. Two more holes will be drilled to test the continuity of the M-1 manto and the additional mantos both to the north and south along strike. (1) On-going modeling of the previously announced drill hole results from the Carmen area has allowed the Company's geologist to determine that the principal manto in that area was penetrated in three of the four holes drilled. One further drill hole is now planned to further determine continuity and grade in the manto. "We're very encouraged by the results so far. The drilling to date in both the Carmen and Condor Iquiña areas is allowing us to determine the extensions of what appears to be a large mineralizing system. On-going geologic study is now oriented to better understanding those factors that lead to deposition of high-grade ore shoots", said Bill Pincus, CEO of Esperanza Silver. For further information contact: William Pincus, President The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release (1) William Bond, M.Sc., P.Geol., and Vice President of Exploration, Esperanza Silver Corp. is the Qualified Person (QP) under National Instrument 43-101 Standards of Disclosure for Mineral Projects responsible for the Atocha exploration program. He has verified the data disclosed in this news release, including sampling, analytical and test data. Field work has been conducted by Esperanza personnel under his supervision. All samples were submitted to ALS Chemex laboratories in Vancouver, Canada for analysis. Samples were analyzed by ICP analysis and in some cases atomic absorption analysis. |
