Friday 28th October 2016

Resource Clips

Esperanza President Bill Pincus on Mexico assays of 3.85 g/t gold over 15m

Esperanza Resources Corp TSXV:EPZ announced results from its Cerro Jumil Project in Morelos State, Mexico. Highlights include 3.85 g/t gold over 15 metres, 1.3 g/t over 30 metres, 2.52 g/t over 15 metres, 3.07 g/t over 9 metres, 1.13 g/t over 22.5 metres and 1.14 g/t over 16.5 metres.

President/CEO Bill Pincus tells, “Cerro Jumil is a discovery made by Esperanza geologists in 2005. We’ve shepherded the project forward, and it’s evolving into a classic open-pit, bulk-tonnage gold deposit with silver credit. We have completed now approximately 45,000 metres of drilling, and we issued an updated resource last September of 1.2 million ounces in all categories. We’re drilling now to expand the resource, and in the current quarter we’ll be publishing the results of a PEA.

“We’re happy with today’s results. We’re expanding the known resource, and we look forward to continuing with the drill program.

“We’re 4,000 metres into a 15,000-metre program,” Pincus continues. “That will also include geotechnical drilling for determining pit-slope stability. Basically, we will continue collecting the information necessary to do a full feasibility study. We would hope to be commissioning that early next year.

“Mexico has been great for us. The Mexican personnel are great. Things have gone well. We understand there is a security issue in certain parts of the country, and we certainly take what we hope are prudent precautions. But we’ve never had any problems.”

Pincus concludes, “Cerro Jumil is a real project. We’ve got pilot-scale metallurgical testing and pretty good mine design. This project’s real. It’s going to be a mine.”

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William Pincus

by Greg Klein and Ted Niles

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