Esperanza Begins Cerro Jumil Expansion Drill Program

 

VANCOUVER, BC - Esperanza Silver Corp. reported that it has begun a new drill campaign at its wholly-owned Cerro Jumil gold project in Morelos State, Mexico. The drill program will focus on expanding the currently defined gold resource primarily in the Calabasas zone. Earlier drilling has encountered gold mineralization in this area that will now be further defined and quantified.

An additional focus of the drill program will be to upgrade resources currently categorized as inferred to the measured and indicated categories. Also new exploration targets in the immediate resource area will be tested. Esperanza anticipates a minimum of 10,000 meters will be drilled during this program adding to the 32,000 meters already completed in earlier drill campaigns.

A recently completed Preliminary Economic Assessment recommended further metallurgical testing. Accordingly a sample has been shipped to SGS Laboratories in Durango, Mexico and column testing to further define heap leach characteristics will begin shortly. This will be the first in a series of subsequent metallurgical investigations designed to further optimize the heap-leach process parameters for use in a feasibility study.

Bill Pincus, Esperanza's President said, "We are excited to start on this new drill program and the metallurgical testing as it now moves Cerro Jumil into the feasibility stage of development. We expect that the results of this new work will enhance Cerro Jumil's already considerable potential and move the project that much closer to production."

Esperanza is a gold and silver company focused on advancing the development of its two principal properties: the 100%-owned Cerro Jumil gold project in Morelos State, Mexico and the San Luis gold and silver joint venture in Peru. It also holds an extensive portfolio of exploration properties in Mexico and Peru.

The company’s address is 570 Granville Street, Suite 300, Vancouver, BC V6C 3P1, (604) 685-2242, fax: (604) 688-1157.