It's nice to see ECU getting broader coverage at long last after a tough 2 years, see below:
ECU Silver Mining* (ECU : TSX : $1.37), Net Change: 0.17, % Change: 14.17%, Volume: 5,061,151
Down through the Chimney with Ol' St. Nick! Shares of ECU shot up, hitting double-digit gains on news it discovered a "mantos-type" mineralized zone (also known as a Chimney) in the new underground development at the Chicago mine in Mexico. The highlight from the newly discovered zone was a cut assaying 350 g/t Ag, 6.40% lead (Pb) and 12.13% Zn over 3.0 m. Commenting on the results, Michel Roy, CEO and Chairman of ECU notes, "The mantos-type of mineralization is typically related to replacement bodies which is a very encouraging development for us, as some of the best orebodies in Mexico are of this type of mineralization. Historical mining in "mantos" style deposits have shown that these types of mineralization are generally associated with very high grades and good widths." The company discovered this new mineralization through an
underground drift that was following the "Gambusinos" vein in the Chicago mine. A mantos is different from mineralized veins in that the mineralization consists of replacement bodies inserted between limestone beds. While typically limited in lateral
extent, this type of mineralization can be followed for significant distances along its plunge and is typically much wider than normal veins. Further, mantos deposits typically contains higher than normal grades of silver, lead and zinc. To date, the assays
from six cuts have an average grade of 161 g/t Ag, 2.45% Pb and 4.70% Zn over an average width of 3.3 m. However, given that mantos style deposits are generally characterized by much higher grades, these results could imply the newly discovered
zone is near the top of the structure. This would suggest that the expected grade will improve as development goes further down plunge along the mantos.