Esperanza Reports Cerro Jumil Drill Results
Vancouver, B.C., April 30, 2012: Esperanza Resources Corp. (TSX.V: EPZ) is pleased to report its most recent drill results at its Cerro Jumil gold project in Morelos, Mexico. The current drill holes are in-fill and have increased confidence in the resource by upgrading previously reported inferred and indicated resources. Highlights of the drill results are:
• Drill Hole DHE-12-74 intersected 25.5 meters containing 1.65 grams of gold per tonne.
• Drill Hole DHE-12-77 intersected two separate intervals with 31.5 meters containing 2.8 grams gold per tonne and another interval of 39.0 meters containing 0.7 grams gold per tonne.
• Drill Hole DHE-12-81 intersected 45.0 meters containing 1.9 grams of gold per tonne.
• Drill Hole DHE-12-90 intersected two separate intervals with 27.0 meters containing 1.1 grams of gold per tonne and another interval with 121.5 meters containing 1.1 grams gold per tonne.
Complete results are in the accompanying table and drill hole locations are shown on the accompanying map. A detailed drill hole plan map can be found on the Company’s website.
Current activities at the Cerro Jumil project include on-going drilling, geotechnical field investigation including site analysis for proposed infrastructure and leach pad areas and oriented core drilling to establish pit wall stability.
Esperanza, together with its metallurgical consultants Lyntek Inc. and McClelland Labs Inc. has designed a feasibility-level test program. The Company has now shipped approximately 75 tonnes of metallurgical samples which includes bulk-sampling from five surface locations, large diameter core from various locations and depths of the deposit and numerous reverse-circulation drill cuttings for bottle-roll testing. In addition to the bottle-roll tests the Company will build columns from at least five bulk-surface samples and six large-diameter core samples. All samples have been shipped to McClelland laboratories in Sparks, Nevada for testing. The Company does not anticipate final test results until late in the third quarter.