Dia Bras expands Brecha Linda

Montreal-based Dia Bras Exploration (DIB-V) continues to return high-grade base metal values from the past producing Bolivar deposit in Mexico.

The latest batch of three holes is highlighted by hole no. 139, which returned 7 metres (from 52 metres below surface) of massive sulphide mineralization running 6.2% copper, 21.7% zinc, plus 41.8 grams silver and 0.1 gram gold per tonne.

Hole no. 141 returned 6 metres (from 41 metres) of 0.6% copper, 10.2% zinc, plus 15.7 grams silver, and 0.1 gram gold, including the first three metres, which contained 08% copper, 19% zinc, 24.9 grams silver, and 0.1 gram gold.

Finally, hole no. 143 yielded 16.2 metres (from 51.8 m) averaging 1.7% copper, 15.3% zinc, 18.5 grams silver, and 0.1 gram gold. A 1-metres section lower in the hole (from 89 m) runs 1.7% copper, 19.1% zinc, 91 grams silver, and 0.9 gram gold.

The holes were drilled ahead of the production stopes to expand the Brecha Linda zone, and encountered massive sulphide mineralization within 20 metres of the current mining area.

Earlier this month, Dia Bras cut two mineralized sections, an upper section of Bolivar-type copper-zinc mineralization, and a lower section of South Bolivar-type copper-magnetite mineralization in hole 135.

The hole is highlighted by a 10-metre section of 0.85% copper and 26.8% zinc, 24.3 grams silver, and 0.8 gram gold, which the company believes represents a southeastern extension of the Brecha Linda zone, 150 metres to the north.

The company says the hole indicates that alteration and mineralization are continuous over a strike length of at least 800 metres, with mineralization remaining open in three directions.

Dia Bras says that diamond drilling, underground sampling, and mining and milling data suggest indicated resources of up to 250,000 tonnes averaging 2-3% copper and 12-15% zinc on the accessed portion of level 1. The estimate does not conform to the standards of National Instrument 43-101. Such a report is due out later this month.

Meanwhile, 24 holes on the South Bolivar-type copper-magnetite skarn mineralization indicates an average thickness of 20 metres over an area measuring 300 metres by 250-metres. The zone remains open to the east, south and north.

Dia Bras acquired the mine, which is in the Piedras Verdes district, in September 2004. In mid-September, the company exercised its option to acquire a 100-tonne-per-day mill, 125 km from the mine, in the town of Malpaso, for US$450,000, with US$175,000 paid on signing. The balance is due in 11 monthly payments of US$25,000.

The mill’s capacity has since been increased to 300 tonnes per day, and is expected to run through 7,000 tonnes per month going forward. In September, the mill processed 6,624 tonnes of ore to produce 258 dry tonnes of copper concentrate and 601 dry tonnes of zinc concentrate.

Exploration at Bolivar is being funded with $1.8 million in proceeds from the recent exercise of some 10.7 million warrants at 17 apiece. The company currently has around 59.2 million shares outstanding.