High grades at Bolivar

Dia Bras Exploration (DIB-V) continues to cut high-grade base metals, as well as significant silver and gold, at the Bolivar deposit, a former producer 230 km southwest of the Mexican city of Chihuahua.

Hole 86 cut four high-grade zones. At 6.5 metres down-hole, 2 metres graded 13% zinc and 0.77% copper, plus 39.6 grams silver and 0.18 gram gold per tonne. Farther down-hole, at 44 metres, 1 metre graded 21% zinc, 1.3% copper, 54 grams silver and 0.3 gram gold. Six metres farther on, 2 metres graded 5.4% zinc, 0.5% copper, 42.3 grams silver and 0.2 gram gold, and at 73 metres down-hole, 1 metre returned 14% zinc, 0.9% copper, and 9 grams silver.

Hole 98 cut three zones, including a 2-metre-wide intercept of 7.8% zinc, 1.9% copper, 92 grams silver and 0.6 gram gold. Each of the other two zones was a metre wide. One graded up to 34.7% zinc, 4.75% copper and 39.3 grams silver; the other, 10% zinc, 1.8% copper and 21.3 grams silver.

Fifty-seven holes tested zones of high-grade mineralization, and 35 of those returned significant values. The zones are all accessible from previous mine workings. The Bolivar mine produced about 60,000 tonnes grading 6% copper and 30% zinc, with supplemental gold and silver.

The deposit has an inferred resource of 30,000 tonnes contained in two partially exposed zones. A third zone has an inferred resource of 50,000 tonnes, which are readily accessible from the mine.

Mineralization is skarn-hosted and found at fault intersections.

Dia Bras acquired the mine, which is in the Piedras Verdes district, in September 2004. In November, the company signed a 3-year lease-to-own agreement for a 100-tonne-per-day flotation mill, 125 km from the mine, in the town of Malpaso.

Dia Bras began a prefeasibility study in December 2004, and plans call for more drilling, to firm up the resource and confirm tonnage, grade and recovery.

Two underground levels, 50 metres apart, have been widened to accommodate modern mining equipment, and more than 300 metres of rehabilitation have been completed.

Dia Bras produced an initial sample of 900 tonnes grading a 15% zinc and 3% copper, which has been shipped to the mill. The mill began processing ore in January. In February, 2,000 tonnes of ore will be mined and transported to the facility, and tonnage is expected to increase by about a third in March.

The 158-sq.-km property comprises 17 claim blocks, some of which the company began exploring in late 2003.