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Message: updated Canadian National Instrument NI 43-101
| May 11, 2009 | ||
| Soho Reports 7.377 Million Tonnes Measured and Indicated Plus 4.868 Million Tonnes Inferred Updated Resource Estimate for Tahuehueto Project, Durango State, Mexico | ||
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 11, 2009) - Soho Resources Corp. - (TSX VENTURE:SOH) ("Soho" or the "Company") is pleased to announce the completion of an updated Canadian National Instrument NI 43-101 compliant mineral resource estimate for its Tahuehueto property in Durango State, Mexico ("Tahuehueto"). This resource estimation has been prepared by Scott E. Wilson Consulting, Inc. ("Wilson Consulting") based in Englewood, Colorado. Wilson Consulting is a full-service mining engineering firm, specializing in all aspects of exploration, mine development, and mine operations. This resource estimate is an upgrade to the Company's initial resource estimate announced on April 30, 2008 and is based upon detailed geological modeling of veins and stock-work zones that was not available for the initial resource estimate plus the results from 71 new drill holes targeting down-dip and along strike extensions of known mineralization outlined in the initial resource report of April of 2008. Resource Calculation Highlights
2009 Tahuehueto Resource,
Measured and Indicated Resources Inferred Resource
- 7,377,000 Tonnes - 4,868,000 Tonnes
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- 2.10 g. Au/t 498,000 ounces Au - 1.06 g. Au/t
- 34.97 g. Ag/t 8,294,000 ounces Ag - 31.77 g. Ag/t
- 0.28% Cu 45,339,000 lbs. Cu - 0.23% Cu
- 1.06% Pb 172,738,000 lbs. Pb - 1.13% Pb
- 2.01% Zn 326,653,000 lbs. Zn - 2.26% Zn
The Tahuehueto Resource is categorized into Measured, Indicated and
Inferred Resources as follows,
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GOLD SILVER COPPER
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Tonnes Oz. Oz. Lbs.
Category (,000's) g/t (,000's) g/t (,000's) Cu% (,000's)
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Measured 26% 3,254 2.40 251 36.30 3,798 0.28 20,439
Indicated 34% 4,123 1.87 248 33.92 4,496 0.27 24,900
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Total M&I 60% 7,377 2.10 498 34.97 8,294 0.28 45,339
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Inferred 40% 4,868 1.06 31.77 0.23
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LEAD ZINC
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Tonnes Lbs. Lbs.
Category (,000's) Pb% (,000's) Zn% (,000's)
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Measured 26% 3,254 1.10 79,228 2.07 148,759
Indicated 34% 4,123 1.03 93,511 1.96 177,894
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Total M&I 60% 7,377 1.06 172,738 2.01 326,653
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Inferred 40% 4,868 1.23 2.26
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The metal prices used to determine the gold equivalent grade for cutoff purposes were $800 per ounce for gold, $12.00 per ounce for Silver, $2.10 per pound for copper, $0.65 per pound for lead and $0.70 per pound for zinc. Gold-equivalent grades are used for cutoff purposes only. Please visit the following link to Soho's web site www.sohoresources.ca/proj_resrep.php to review more detail on the resource estimate including tables displaying the resource of each zone making up the 2009 Tahuehueto Global Resource Estimate as well as the resource displayed at various cutoff grades. The 2009 Tahuehueto Global Resource Estimate represents only the upper, close to surface portion of three structures; the El Creston structure over approximately 670 m of strike length; the Cinco de Mayo - Perdido - Santiago - Catorce structure known to be at least 3 km long and drill tested over approximately 2.5 km of strike length; and the El Rey structure tested over approximately 250 meters of strike length. All structures remain open at depth and along strike in both directions and management are very confident that additional drilling will expand the Tahuehueto resources. "On behalf of the Company's board of directors I am very happy to deliver the above resource calculation to our loyal shareholders and interested investors," states Mr. Ralph Shearing, President and CEO of Soho Resources Corp. "The hard work and dedication of the Company's employees and consultants on the Tahuehueto exploration program and geological modeling over the past year has allowed the project's metal resources to be significantly increased with a corresponding increase in the confidence of the resource, with 60% now categorized as measured and indicated resources. This project just continues to improve and with a recovery in the resource market I am confident that Soho can advance Tahuehueto towards a production decision over the coming years and thereby realize the true potential of what I have always recognized as an outstanding asset." Metallurgy Historic metallurgical testing preformed between 1986 and 1991 by The Comision de Fomento Minero, a Mexican governmental organization, on a 150 kg. sample of un-oxidized material from the El Creston area gave flotation recoveries of: ---------------------------------------------------------------------------
Element Recovery to Lead Concentrate Recovery to Zinc Concentrate
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Au 81.1% 4.2%
Ag 87.6% 6.7%
Pb 97.2%
Zn 86.1%
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Note: Copper recovery was not determined by this historic metallurgical
test.
Scott E. Wilson Consulting, Inc. has recommended an inverse distance estimate as the preferred method of determining the resource estimate. Resource calculations are based on 2 meter drill hole composites of exploration drilling sample intervals. All estimates are based on a block dimension of 2 meters long x 2 meters wide x 2 meters tall with the estimation parameters determined by geostatistics and geological modeling using Vulcan software modeling programs. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Converting resource estimates into economic reserves may be materially affected by the inability to obtain required environmental and other regulatory approval, environmental or operating permits and may also be materially affected by global economic conditions such as the price of gold, silver, copper, lead, zinc, the price of oil and other commodities utilized in the mine production. Unknown geologic or hydrologic conditions or other unknown factors may also materially affect converting resource estimates into reserves. Qualified Person The "qualified person" (as such term is defined in NI 43-101) who prepared the mineral resource estimates disclosed in this press release is Mr. Scott Wilson, B.A. Geology, a Certified Professional Geologist and member of the American Institute of Professional Geologists in Denver, Colorado. Mr. Wilson is the independent resource estimate consultant for Soho Resources Corp. and has reviewed the technical information contained in this press release. The NI 43-101 compliant report related to this press release will be filed on SEDAR and will be posted on the Company's website within the timeframe specified by NI 43-101. Mr. Wilson is the founder of Scott E. Wilson Consulting, Inc. and is independent of Soho as determined by the definitions and criteria set forth in NI 43-101. There is no affiliation between Scott Wilson and Soho except that of an independent consultant/client relationship. Exploration on the project is now being conducted under the direction of Mr. Ralph Shearing, P.Geol. and President of the Company, a qualified geologist as defined under National Instrument 43-101. Mr. Shearing also authored this news release. Soho Resources Corp. is a Canadian junior mining and exploration company with a strategic focus on gold, precious and base metals. The Company's current focus is directed towards the exploration and development of the "Tahuehueto Project", located in the northwest corner of Durango State, Mexico, within the prolific Sierra Madre mountain range. The Tahuehueto Project is typical of a classic Mexican epithermal vein system that hosts multiple large scale structures strongly mineralized in Au, Ag, Pb, Zn, and Cu. Soho controls 100% of the Tahuehueto Project through a 99.4% owned Mexican subsidiary. On behalf of Soho Resources Corp., Ralph Shearing, President & CEO If you would like to receive information on Soho Resources Corp. and its exploration project please contact the Investor Relations Department by email or phone or visit our website at www.sohoresources.ca for the most up to date information and results. Other historic information and mandatory filings are available on line www.sedar.com. WARNING: The Company relies upon litigation protection for "forward-looking" statements. This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of up-coming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Soho Resources Corp. relies upon litigation protection for forward-looking statements. Shares Issued - 125,887,913 Last Close 2009/05/08 C$0.125 |
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