Scorpio tables Candelaria results (April 15, 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 Mexico’s Sinaloa state.

Between March 2001 and January 2002, inclusive, Scorpio has drilled 64 holes into and around the Candelaria deposit. Previous-owner Asarco mined 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 because of 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 says drill results show the continuity of the zone on strike and at depth. The deepest intersection drilled was 160 metres downdip. Scorpio is now compiling a database from previous Asarco drilling and combining it with its own results.

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.

Hole 1 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 2 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 5 cut 2.81 metres averaging 1,882.3 grams silver, 2.5 grams gold, 2.07% copper, 6.65% lead and 28.66% zinc.

Hole 9 cut 6.16 metres of 600.69 grams silver, 0.17 gram gold, 1% copper, 2.23% lead and 3.53% zinc.

Underground hole 13 cut 3 metres grading 114.52 grams silver, 0.34 gram gold, 0.16% copper, 0.3% lead and 0.22% zinc. This was followed by another, 3.85-metre 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.