Source Samples 9.92 g/t Gold, 20.78 g/t Silver and 0.63 % Copper over 8.0 Metres at Las Minas Project
THUNDER BAY, ONTARIO -- (Marketwire) -- 05/10/11 -- Source Exploration Corp. ('Source' or the 'Company') (TSX VENTURE: SOP) is pleased to announce preliminary assay results for its sampling program at the historical Changaro mine located at the Company's Las Minas project, Veracruz, State, Mexico. The rock chip sampling included both surface and underground samples at the Changaro adit as well as samples in the area of historical mining. A plan map showing the various sample locations can be viewed on the Company's website at www.sourceexploration.com - see Project - Maps. Highlights of the sampling program include:
-- 8 metres grading 9.92 g/t gold, 20.78 g/t silver and 0.63 % copper or
11.45 g/ ton gold equivalent(i), including 2.0 metres grading 28.87 g/t
gold, 20.3 g/t silver and 0.68% copper (30.46 g/t gold equivalent).
-- 10 metres grading 3.03 g/t gold, 12.9 g/t silver and 0.61% copper or
4.35 g/t gold equivalent, including 4.0 metres grading 7.47 g/t gold,
29.35 g/t silver and 0.71% copper or 9.26 g/t gold equivalent.
-- 16.0 metres grading 1.83 g/t gold, 13.01 g/t silver and 0.25% copper or
2.51 g/t gold equivalent
Brian E. Robertson, President and CEO, commented, 'We are very encouraged by these recent sampling results. Historical mining at Changaro, one of the primary targets on the Property, was very selective and focused on very high grade ore. These sampling results clearly demonstrate that mineralization with significant grade and widths extend into the hanging wall and footwall of the historical stoping areas.
Results of the sampling program are shown in Table 1.
Table 1 Sampling Results Changaro
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Gold
Width Equivalent
Sample No Location (M) Au g/t Ag g/t Cu % (1)
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3469 Changaro Adit 2.0 0.60 1.9 0.14 0.90
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3470 Changaro Adit 2.0 28.87 20.3 0.68 30.46
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3471 Changaro Adit 2.0 5.65 17.6 0.66 7.15
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3472 Changaro Adit 2.0 4.54 43.3 1.04 7.21
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Total Length & Average Grade 8.0 9.92 20.78 0.63 11.43
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3806 Changaro Adit 2.0 0.015 0.40 0.077 0.16
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3807 Changaro Adit 2.0 0.016 2.1 0.04 0.13
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3808 Changaro Adit 2.0 3.18 12.8 0.22 3.81
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3809 Changaro Adit 2.0 3.34 18.9 0.25 4.15
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3811 Changaro Adit 2.0 0.54 12.4 0.32 1.34
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3812 Changaro Adit 2.0 3.79 29.4 0.33 4.93
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3813 Changaro Adit 2.0 1.09 23.4 0.50 2.41
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3468 Changaro Adit 2.0 2.61 4.7 0.27 3.17
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Total Length & Average Grade 16.0 1.82 13.01 0.25 2.51
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3801 Changaro Adit 2.0 0.116 2.0 0.25 0.60
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3802 Changaro Adit 2.0 0.075 2.4 0.96 1.81
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3803 Changaro Adit 2.0 0.046 1.4 0.43 0.82
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3804 Changaro Adit 2.0 2.58 17.2 0.39 3.60
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3805 Changaro Adit 2.0 12.36 41.5 1.02 14.95
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Total Length & Average Grade 10.0 3.03 12.9 0.61 4.35
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3473 Changaro Stope 2.0 8.10 24.5 0.67 9.75
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3474 Changaro Stope 2.0 1.41 19.3 4.79 10.25
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(i) Gold equivalents calculations use metal prices of US$ 1300/oz. for gold, US$ 25.00/ oz. for silver and US$3.50/lb. for copper. No adjustments have been made for potential relative differences in metal recoveries.
Au EQ g/t equals Au g/t (Ag g/t x 0.019) (Cu% x1.77)
Sonny Bernales, P.Geo., Project Manager, is the Qualified Person for the technical information contained in this press release and is a qualified Person within the meaning of National Instrument 43-101. Samples were shipped to SGS Mineral Services (ISO/IEC 17025) at Durango, Mexico for assaying. In addition to the laboratory's quality control program, a rigorous on-site quality assurance and control quality control program was implemented involving the insertion of certified standard reference materials including blanks.
About Source Exploration
Source Exploration is a well-financed Canadian based mineral exploration company focused on the evaluation, acquisition and development of economic gold and silver deposits in Mexico.
Cautionary Statement Regarding Forward-Looking Information: This news release includes certain information that may constitute 'forward-looking information' under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about use of proceeds of the Offering. Forward-looking information is based on the opinions and estimates of management that, which considered reasonable, are 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 information. Such risks and uncertainties include, but are not limited to, risks associated with the mining industry, the risk of commodity price and foreign exchange rate fluctuations, the ability of the Corporation to fund the capital and operating expenses necessary to achieve the business objectives of the Corporation, as well as those risks described in public disclosure documents filed by the Corporation. Due to the risks, uncertainties and assumptions inherent in forward-looking information, prospective investors in securities of the Corporation should not place undue reliance on such forward-looking information. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Shares Issued: 45,592,310
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:
Source Exploration Corp.
Brian Robertson
President & CEO
807-474-4270
807-474-4272 (FAX)
info@sourceexploration.com
www.sourceexploration.com