CHIHUAHUA, Mexico, Nov. 28 /PRNewswire-FirstCall/ -- Mexoro Minerals Ltd.
Continues Exploratory Drilling At Its Cieneguita Project.
( MXOM) (Frankfurt: OYA1).
Mexoro Minerals is pleased to announce that it continues exploratory and
infill drilling at its Cieneguita project located in Chihuahua, Mexico. To
date, a total of 94 holes have been drilled with an additional 5,000 meters of
drilling still to be completed. Of the 91 holes drilled, Mexoro is still
waiting for the assay results of 37 of those holes from ALS Chemex. As well,
Delve Consulting is preparing a NI 43-101 compliant report updating the
information released in August 2008. This report will contain the results
from 54 holes and will be updated again when the drill program has been
completed. The report from Delve Consulting is expected to be finished in
early December 2008.
Barry Quiroz, President says, "The alteration and mineralization
assemblages observed in the drill cores from the additional 42 holes completed
to date seems to confirm the lateral continuity and depth extent of the main
mineralization of the system. We are anxiously waiting for the assay results
to ensure that our in-house mineralization model is working to delineate a
gold-silver deposit with significant lead and zinc component. We are pleased
with the size of the initial resource estimate, especially since it does not
include most of the holes from the infill drilling program collared in and
around the higher grade areas.
Reconnaissance-style exploration and a detailed mapping and sampling
program of the Piedras Blancas area, 500 meters to the south of the Cieneguita
project, are currently in progress, aimed to identify additional drilling
targets within Mexoro's concessions. Recent geological mapping continues to
show intense and extensive alteration and quartz veins stockworked areas,
where gold anomalies varying from 0.28 and 4.01 g/t Au. Drilling targets and
drilling program are expected to be ready during second quarter 2009.
These results have been prepared under the supervision of Barry Quiroz,
MSc., Mexoro VP of Exploration. He has the expertise and authority to verify
the authenticity and validity of this data. The qualified person who has
reviewed this news release is Dana C. Durgin, MSc. Economic Geology. He is a
Certified Professional Geologist (CPG #10364) with the American Institute of
Professional Geologists, and a Registered Professional Geologist in Wyoming
(PG-2886).
About Mexoro:
Mexoro Minerals Ltd. is an exploration company focused on exploring for
precious metals in the traditionally mineral rich Sierra Madre region of
Chihuahua, Mexico and controls three historical gold-silver mines for which
additional exploration has confirmed significant mineral potential. The
Company also has claims on additional properties in the state of Chihuahua.
This Press Release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. The Company
has tried, whenever possible, to identify these forward-looking statements
using words such as "anticipates," "believes," "estimates," "expects,"
"plans," "intends," "potential" and similar expressions. These statements
reflect the Company's current beliefs and are based upon information currently
available to it. Accordingly, such forward-looking statements involve known
and unknown risks, uncertainties and other factors which could cause the
Company's actual results, performance or achievements to differ materially
from those expressed in or implied by such statements. The Company undertakes
no obligation to update or advise in the event of any change, addition or
alteration to the information catered in this Press Release including such
forward-looking statements.
Cautionary Note to US Investors:
All mineralized material have been calculated in accordance with the
definition standards on mineral resources and mineral reserves of the Canadian
Institute of Mining, Metallurgy and Petroleum and disclosed as required by the
Canadian Securities Administrators pursuant to Canadian National Instrument
43-101, commonly referred to as NI 43-101. U.S. SEC reporting requirements
for disclosure are governed by SEC Industry Guide 7. NI 43-101 and Industry
Guide 7 differ materially.
The United States Securities and Exchange Commission allows disclosure for
U.S. reporting purposes only on mineral deposits that a company can
economically and legally extract or produce. We use certain terms in this
press release, such as "reserves," "resources," "proven," "probable,"
"measured," "indicated," or "inferred" which may not be consistent with the
reserve definitions established by Industry Guide 7. We caution U.S. investors
that while these terms are recognized and required by Canadian Securities
Administrators pursuant to National Instrument 43-101, the U.S. Securities and
Exchange Commission does not recognize it. In this press release the term
"inferred resources" have a great amount of uncertainty as to their existence,
and great uncertainty as to their economic and legal feasibility. It cannot
be assumed that all or any part of an Inferred Mineral Resource will ever be
upgraded to a higher category. Under Canadian Securities Administration
rules, estimates of Inferred Mineral Resources may not form the basis of
feasibility or pre-feasibility studies. U.S. investors are cautioned not to
assume that part or all of an inferred resource exists, or is economically or
legally minable. U.S. investors are urged to consider closely the disclosure
in our filings with the SEC. You can review and obtain copies from the SEC
website at http://www.sec.gov/edgar.shtml .
Corporate Headquarters
Mexoro Minerals Ltd.
C. General Retana #706
Col. San Felipe,
Chihuahua, Chih. C.P. 31203
Mexico
Tel: +52 (614) 426-5505
SOURCE Mexoro Minerals Ltd.
