NSX Silver reports high grade assay results from its Santa Rosalita and La Prieta zones

BEDFORD, NS, May 16, 2013 /CNW/ - NSX Silver Inc. (TSXV: NSY) is pleased to announce initial results from its ongoing detailed mapping and sampling program on the Santa Rosalita  and La  Prieta zones located on the Piedras del Norte and Oso Blanco 1 mining concessions. These two concessions along with the Oso Blanco 2 concession are 100% owned by the Company and comprise approximately 6,000 hectares of highly prospective ground in the vicinity of the Dios Padre Project.

These concessions are situated in the Sierra Madre Occidental in a cretaceous volcanic suite, which is regionally denoted as the "Lower Volcanic Sequence".  These rocks are overlain and completely covered to the East by a tertiary sequence of rhyolite tuffs and basalts regionally known as the "Upper Volcanic Sequence".  The interface between these sequences, and in particular the upper parts of the Lower Volcanic Sequence, is the host environment for several significant gold and silver districts including the nearby Sahuaripa, Mulatos, Dolores and Ocampo Districts and further south the El Sauzal discovery.  The geologic setting of these deposits varies but they all occur at or within this highly prospective interface.

Santa Rosalita Zone

The Santa Rosalita Zone is a newly discovered mineralized zone located immediately north of the town of Santa Rosa. Mineralization in this zone occurs in a shear zone of indeterminate size that is obscured by heavy overburden in an area with difficult access due to dense vegetation.  Significant values obtained during initial sampling in this zone include the following;

Sample #	Gold (gpt)	Silver (gpt)	Copper (%)	Lead (%)	Zinc (%)
170410	0.01	2,030	0.31%	1.26%	0.14%
170409	0.01	93	0.24%	0.48%	0.69%

This zone appears to be in close proximity to a large quartz monzonite intrusive body that lies to the south-southwest.  The significance of this is that quartz monzonite is a primary host for a number of porphyry copper deposits in western Canada, the United States, and Mexico. Many of these type of deposits are known to have high grade precious metals occurrences on or near their peripheries. Considerable work remains to be done to confirm the potential for porphyry copper mineralization at or near Santa Rosalita and future exploration in this area will focus on the potential relationship.

La Prieta Zone

La Prieta is a strong shear zone with veins containing silver and it is one of the more prominent silver occurrences located near Santa Rosalita.  This mineralized zone is located on the Oso Blanco 1 mining concession.  The vein system at La Prieta was previously mined during the early 1900's and a substantial dual compartment inclined shaft was found. Investigation of rocks on the dump resulted in identification of diorite and quartz diorite intrusive rock waste material, which likely represents the wall rocks of the vein system. Numerous fragments of vein material disclosed argentite, freiburgite, chalcopyrite, pyrite, barite and calcite in a brecciated quartz vein host. The presence of these mineralized examples in the dump suggests that mine production concentrated on high grades, similar to the early mining at Dios Padre.

At the La Prieta zone Company personnel have identified a 700 meter long narrow shear zone, approximately 0.5 to 1.2 meters in width that hosted the old La Prietapolymetallic mine (copper, lead, zinc, gold, and silver).  Significant gold and silver values from recent sampling at this zone include the following;

Sample #	Gold (gpt)	Silver (gpt)	Copper (%)	Lead (%)	Zinc (%)
170834	2.39	352	0.07%	0.13%	0.02%
170591	1.35	236	0.01%	0.05%	0.03%
170804	0.02	185	0.03%	0.14%	0.03%
170714	2.12	184	0.01%	0.12%	0.01%
170849	4.03	148	0.06%	0.06%	0.05%
170546	2.98	143	0.21%	0.15%	0.20%
170577	2.94	134	0.18%	0.14%	0.07%
170860	1.42	104	0.17%	0.11%	0.35%
170594	1.97	73	0.06%	0.13%	0.17%
170858	2.03	52	0.00%	0.60%	0.41%
170707	3.03	49	0.01%	0.08%	0.03%
170712	9.42	29	0.01%	0.04%	0.00%

Testing and trenching along this zone indicates that high values of silver and gold occur along much of its length. Of the 41 samples taken along the strike of the shear, 31samples (76%) exceeded the assigned background silver value of 5 grams per tonne. Anomalous assays along the length of the zone range from trace to a high value of 352 grams per tonne silver and from trace to a high value of 9.4 grams per tonne gold.  Of note is the fact that most of the higher grade silver samples also returned significant gold values.

A second shear zone has been identified from aerial photographs which trends northwest and which intercepts the La Prieta shear at the point where the highest gold sample (9.42 gram per tonne) was obtained. Most of this structure is under the cover of overburden and will require considerable trenching to expose and properly evaluate its mineral potential. Significant values obtained from scattered and sparse outcrops are encouraging and are detailed in the following table.

Sample #	Gold (gpt)	Silver (gpt)	Copper (%)	Lead (%)	Zinc (%)
170750	0.01	83	0.00%	0.04%	0.01%
170746	0.01	75	0.00%	0.05%	0.01%
170759	0.52	75	0.00%	0.02%	0.01%
170749	0.02	70	0.00%	0.02%	0.01%
170782	2.34	39	0.11%	0.05%	0.18%

At least two other anomalous zones have been identified approximately 500 meters south of and parallel to the northwest trending mineralized zone. The area between these zones is covered by dense foliage and overburden. These two newly discovered zones occur in rock types similar to the other shear zones.  Significant samples taken from available outcropsinclude the following;

Sample #	Gold (gpt)	Silver (gpt)	Copper (%)	Lead (%)	Zinc (%)
170770 (Zone A)	3.73	233	0.00%	0.04%	0.01%
170795 (Zone B)	0.60	80	0.01%	0.03%	0.01%
170796 (Zone B)	0.25	56	0.21%	0.60%	0.41%

Additional mapping and sampling and testing of these zones are underway to determine their relationship, if any, to the known mineralized systems.

NSX Silver management and exploration personnel are highly encouraged by the discovery of potentially significant mineral targets at the Santa Rosalita and La Prieta zones and associated subsidiary zones.  The association of strong silver and gold anomalies in previously mined and newly found zones peripheral to an altered quartz monzonite intrusive is considered to be a very exciting development.The Company intends to continue the systematic exploration of its sizeable land position near the Dios Padre Project and is optimistic of this work returning further positive results.

Sample Protocol

Rock chip samples were taken and bagged, sealed and numbered on site. The sealed samples were transported by Company personnel to ALS Chemex's preparation lab in Hermosillo then forwarded to ALS labs in Vancouver BC for testing using the ICP-61 protocols.

Qualified Person

John E. Hiner, Licensed Geologist and Registered Member of SME, a qualified person as defined by National Instrument 43-101, recently visited the property and has reviewed and approved the information provided in this news release.

About NSX Silver

NSX Silver Inc. is a mineral exploration company actively exploring for silver and associated metals in Mexico.  NSX Silver's principal property is the Dios Padre Project located in Sonora State, Mexico which is held under option agreement. Additionally the Company holds approximately 6,000 additional hectares of prospective ground in the vicinity of the Dios Padre Project.  NSX Silver's shares are listed on the TSX Venture Exchange under the symbol NSY.

Forward-Looking Statements

This news release contains statements that may constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian securities legislation.Forward-looking information and statements may include, among others, statements regarding the future plans, costs, objectives or performance of NSX Silver Inc. ("NSX Silver"), or the assumptions underlying any of the foregoing.  In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements.  Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved.  No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that NSX Silver or its shareholders will derive.  Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond NSX Silver's control.  These risks, uncertainties and assumptions include, but are not limited to, those described under "Risks and Uncertainties" in NSX Silver's Management Discussion and Analysis for the Year ended December 31, 2012, which is available on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements.  NSX Silver does not intend, nor does NSX Silver undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

 

 

SOURCE: NSX Silver Inc.

Glenn A. Holmes
Chief Financial Officer, NSX Silver Inc.
[phone]
[email protected]