Iberian Minerals Announces Drill Results From New Zone West of Aguas Tenidas Mine
October 25 2011 - 1:13PM
Marketwired
Iberian Minerals Corp. (TSX VENTURE:IZN) is pleased to announce
that as a result of the recent Titan 24 geophysical program and
subsequent follow-up exploration drilling at Aguas Tenidas, a new
massive sulphide zone has been delineated to the west of the old
Aguas Tenidas Mine.
The old mine, located north of the current operation, and
adjacent to the new zone, was in operation from 1916 to 1934, and
produced 419,681 tonnes of 5.66% copper. High grade zinc/lead
sulphides (with 10-15% combined zinc and lead) were also present;
however this was not exploited at the time.
This new zone named "Orebody MS-4" targeted the fourth
geophysical anomaly of the Titan 24 results, and has approximate
dimensions of 500 meters on strike, 200 meters on dip and an
average thickness of 3.5 - 4 meters. The mineralization is similar
to that of the Aguas Tenidas ores and would have an average
specific gravity of 4.5 tonnes/ m3.
Drilling is continuing on this zone as it is open on both ends
and downdip. Exploration drilling of other targets from the Titan
24 results is also ongoing.
The mineralized intersections of the past and latest drilled
holes are summarized in the following table.
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Hole Length Depth Copper Zinc Lead Gold
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m % % % g/t
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SD-2bis (Asturiana) 4.00 from 300.00 m 2.80 - - -
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AM-3 (Placer Dome) 5.20 from 287.10 m 2.96 4.46 0.85 48.00
----------------------------------------------------------------------------
5.50 from 297.90 m 0.62 8.87 1.85 79.00
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AM-5 (Placer Dome) 3.75 from 304.25 m 2.07 4.74 0.28 25.00
----------------------------------------------------------------------------
AM-8 (Matsa) 3.00 from 459.60 m 0.42 8.73 2.22 81.65
----------------------------------------------------------------------------
AM-11 (Matsa) 1.00 from 159.75 m 0.60 3.44 0.79 21.91
----------------------------------------------------------------------------
AM-12 (Matsa) 4.45 from 220.10 m 6.40 0.70 0.20 21.21
----------------------------------------------------------------------------
AM-15 (Matsa) 1.85 from 303.60 m 2.16 5.53 0.81 21.91
----------------------------------------------------------------------------
AM-17 (Matsa) 1.20 from 318.30 m 0.95 4.39 0.46 43.06
----------------------------------------------------------------------------
About Iberian Minerals Corp.
Iberian Minerals Corp. is a Canadian listed global base metals
company with interests in Spain and Peru. The Condestable Mine,
located in Peru approximately 90 km south of Lima operates at 2.2
million tonnes per year producing copper, and associated silver and
gold in a concentrate. The Aguas Tenidas Mine is in the Andalucia
region of Spain approximately 110 km north-west of Seville and
operates a 1.7 million tonnes per year underground mine and
concentrator that produces copper, zinc and bulk copper/lead
concentrates that also contain gold and silver.
To view maps associated with this press release, please visit
the following link:
http://media3.marketwire.com/docs/izn1025maps.pdf
FORWARD LOOKING STATEMENTS:
This news release contains certain "forward-looking statements"
and "forward-looking information" under applicable securities laws.
Except for statements of historical fact, certain information
contained herein constitutes forward-looking statements.
Forward-looking statements are frequently characterized by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", and other similar words, or statements
that certain events or conditions "may" or "will" occur. Forward
looking information may include, but is not limited to, statements
with respect to the future financial or operating performances of
the Corporation, its subsidiaries and their respective projects,
the timing and amount of estimated future production, estimated
costs of future production, capital, operating and exploration
expenditures, the future price of copper, gold and zinc, the
estimation of mineral reserves and resources, the realization of
mineral reserve estimates, the costs and timing of future
exploration, requirements for additional capital, government
regulation of exploration, development and mining operations,
environmental risks, reclamation and rehabilitation expenses, title
disputes or claims, and limitations of insurance coverage.
Forward-looking statements are based on the opinions and estimates
of management at the date the statements are made, and are based on
a number of assumptions and subject to a variety of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the
forward-looking statements. Many of these assumptions are based on
factors and events that are not within the control of the
Corporation and there is no assurance they will prove to be
correct. Factors that could cause actual results to vary materially
from results anticipated by such forward-looking statements include
changes in market conditions and other risk factors discussed or
referred to in the section entitled "Risk Factors" in the
Corporation's annual information form dated March 30, 2011.
Although the Corporation has attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events
or results not to be anticipated, estimated or intended. There can
be no assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. The
Corporation undertakes no obligation to update forward-looking
statements if circumstances or management's estimates or opinions
should change except as required by applicable securities laws. The
reader is cautioned not to place undue reliance on forward-looking
statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Iberian Minerals Corp. Laura Sandilands Investor
Relations and Corporate Communications 416-815-8558
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