Scorpio tables Candelaria results (April 08, 2002)

Vancouver — Scorpio Mining (SPM-V) has tabled a final compilation of all drill results from surface and underground drilling on its Nuestra Senora polymetallic project in Sinaloa State, Mexico.

From March last year to January this year, Scorpio has drilled a total of 64 holes into and around the Candelaria deposit. Previous-owner, ASARCO, extracted 120,000 tons of development ore grading 22 oz. silver 2.8% copper, 3.5% lead and 6.5% zinc. This material was extracted from the 0 level to the plus 50 metre level. No ore was extracted below the 0 level.

Of the 64 holes drilled, eight were abandoned due to bad ground conditions, eight were exploration holes to test for possible mineralization near the Candelaria mine zone and seven were drilled into the underground barren footwall to test for mineralization extensions. Of the remaining 41 drill holes only five did not intersect the targeted Candelaria zone.

Scorpio is pleased with the results of its drill program and states that it not only shows the continuity of the zone on strike but to depth as well. The deepest intersection drilled to date was 160 metres down-dip. Scorpio is now compiling a drill database from previous ASARCO drilling and combining it with their drill results to put towards an in-house resource estimation.

In addition to its drill programs, Scorpio has completed airborne magnetics, electromagnetics and radiometric geophysical surveys over the property, as well as satellite imagery, ground geophysics, underground sampling, bulk sampling, and three phases of metallurgical testing. Mineralization is hosted in a stacked manto carbonate replacement deposit, open in all directions.

Highlights of the Scorpio-drilled holes are as follows;

• Hole NSC-01 cut a 3.6 metre interval that averaged 401.15 grams silver and 1.68 grams gold per tonne plus 0.9% copper, 0.3% lead and 0.31% zinc.
• Hole NSC-02 cut 3.26 metres grading 124.46 grams silver, 0.17% copper, 0.72% lead and 2.98% zinc. This hole also contained another 3.53-metre interval that averaged 157.03 grams silver, 0.3% copper, 0.11% lead and 0.28% zinc.
• Hole NSC-05 cut 2.81 metres averaging 1,882.30 grams silver, 2.50 grams gold, 2.07% copper, 6.65% lead and 28.66% zinc.
• Hole NSC-07 intersected 12.82 metres grading 192.69 grams silver, 0.34 grams gold 0.30% copper, 1.80% lead and 7.99% zinc.
• Hole NSC-09 cut 6.16 metres averaging 600.69 grams silver, 0.17 grams gold, 1.0% copper, 2.23% lead and 3.53% zinc.
• Hole NSC-17 intersected 3.85 metres grading 123.43 grams silver, 0.51 grams gold, 0.28% copper, 0.75% lead and 1.02% zinc.
• Underground hole UG-C-01 cut 3.10 metres grading 631.55 grams silver, 2.06 grams gold, 0.27% copper, 7.04% lead and 7.55% zinc.
• Underground hole UG-C-07 cut a 6.75 metre interval that averaged 505.72 grams silver, 1.17 grams gold, 0.92% copper, 2.82% lead and 1.65% zinc.
• Underground hole UG-C-13 cut 3.0 metres grading 114.52 grams silver, 0.34 gram gold, 0.16% copper, 0.30% lead and 0.22% zinc. This was followed by another 3.85-mete intersection that averaged 330.17 grams silver, 1.71 grams gold, 1.11% copper, 0.69% lead and 0.45% zinc. In the same hole a 0.55 metre section ran 1,439.67 grams silver, 0.34 gram gold 3.73% copper, 6.12% lead and 46.42% zinc.
• Underground hole UG-C-14 cut 3.0 metres grading 118.63 grams silver, 0.34 gram gold, 0.24% copper, 0.28% lead and 0.81% zinc. This was followed by a 3.40 metre interval that averaged 293.83 grams silver 3.77 grams gold, 0.80% copper, 0.86% lead and 0.18% zinc.
• Underground hole UG-C-21 cut 5.17 metres grading 246.17 grams silver, 0.79 gram gold, 1.43% copper, 3.89% lead and 5.74% zinc.
• Underground hole UG-C-22 cut 7.0 metres grading 406.63 grams silver, 0.55 gram gold, 2.07% copper, 0.92% lead and 4.93% zinc.
• Underground hole UG-C-23 cut 9.0 metres grading 128.92 grams silver, 0.80% copper, 0.46% lead and 2.96% zinc.
• Underground hole UG-C-27 intersected 4.35 metres grading 200.23 grams silver, 0.22% copper, 0.50% lead and 0.98% zinc.
• Underground hole UG-C-29 cut 4.20 metres grading 411.43 grams silver, 0.53% copper, 1.08% lead and 2.37% zinc.
• Underground hole UG-C-32 cut a 3.0 metre interval averaging 113.49 grams silver, 0.34 gram gold, 0.22% copper, 0.56% lead and 0.69% zinc.
• Underground hole UG-C-34 intersected 3.5 metres grading 344.92 grams silver 0.69 gram gold, 0.55% copper, 0.51% lead and 0.83% zinc. This was followed by a 0.5 metre interval that ran 1,138.30 grams silver, 0.41 gram gold, 3.51% copper, 4.99% lead and 4.96% zinc.
• Underground hole UG-C-40 cut half a metre grading 1,018.29 grams silver, 3.09 grams gold, 2.19% copper, 3.13% lead and 0.98% zinc.
• Underground hole UG-C-41 cut 1.15 metres grading 1,042.98 grams silver, 1.71 grams gold, 1.66% copper, 1.38% lead and 1.59% zinc. This was followed by a 1.10-meter interval that averaged 1,169.15 grams silver, 0.17 gram gold, 1.12% copper, 0.45% lead and 1.59% zinc.
• Underground hole UG-C-42 cut 3.75 metres grading 156.69 grams silver, 1.71 grams gold, 0.30% copper, 0.73% lead and 0.09% zinc.