VANCOUVER, British Columbia, Sept. 13, 2011 (GLOBE NEWSWIRE) -- Soho Resources Corp. (TSX-V:SOH) (OTCQX:SOHFF) ("Soho" or the "Company") is pleased to announce assay results from a first phase diamond core drilling exploration program conducted on its Jocuixtita Silver Project located in the municipality of San Ignacio near Mazatlan, Mexico.
During June and July, 2011, Soho conducted a first phase exploration program at the Jocuixtita project consisting of geological mapping, surface and underground sampling followed by a diamond core drilling program using a small drill rig drilling BTW thin-wall sized drill core. Thirteen drill holes were completed reaching their target depth while five holes failed to reach their target depth and were abandoned due to difficult ground conditions that the small diamond drill was unable to overcome.
Significant results were obtained in 11 of the 13 holes completed. Highlights of some of the weighted average drill intersection assay results are as follows,
JCX-09: from 85.7m to 96.5m - 10.8 meter width grading 165.38 g/t silver including 1.0m grading 1,050g/t (1.05 kg/t) silver and 0.73g/t gold plus, a second deeper intersection from 116-121.4m depth for 5.4m width grading 295.63 g/t Silver, including 1.0m of 1,500 g/t (1.5kg/t) Silver
JCX-18: from 39.0m to 44.25m - 5.25 meter width grading 350.84 g/t Silver, 0.41 g/t Au including 1.7m grading 989 g/t silver and 1.13g/t gold plus
JCX-17: from 43.3m to 49.0m - 5.70 meter width grading 138.74 g/t silver including 2.2m grading 292g/t silver, a second deeper intersection from 70.0-82.0m depth for 12m width grading 183.95 g/t Silver, including 3.0m of 409.12 g/t and 0.68g/t gold
JCX-07: from 157.7m to 167.6m - 9.95 meter width grading 159.54 g/t Silver including, 6.10m grading 230 g/t silver .
A complete list of all significant weighted average drill hole assay intervals is presented below and a drill hole location map is available plus a completed list of all individual assay results for all holes can be viewed at the Company's web site at the following addresses. Widths presented are intersected widths and are estimated to be 80-85% of the true perpendicular width of the zone.
Assay Drill Results: http://www.sohoresources.ca/index.php?nav=77
Drill Hole Location Map: http://www.sohoresources.ca/index.php?nav=71
| INTERVAL | From | To | Width | Au (g/t) | Ag (g/t) | Cu_% | Pb_% | Zn_% |
| JCX-18 | From | To | Width | Au (g/t) | Ag (g/t) | Cu_% | Pb_% | Zn_% |
| 39.00 | 44.25 | 5.25 | 0.41 | 350.84 | 0.02 | 0.06 | 0.09 | |
| including | 39.00 | 40.70 | 1.70 | 1.13 | 989.00 | 0.05 | 0.14 | 0.21 |
| JCX-17 | ||||||||
| 43.30 | 49.00 | 5.70 | 0.13 | 138.74 | 0.01 | 0.29 | 0.84 | |
| including | 46.80 | 49.00 | 2.20 | 0.20 | 292.00 | 0.01 | 0.06 | 0.71 |
| 70.00 | 82.00 | 12.00 | 0.25 | 183.95 | 0.01 | 0.00 | 0.02 | |
| including | 71.80 | 74.80 | 3.00 | 0.68 | 409.12 | 0.00 | 0.00 | 0.01 |
| JCX-16 | ||||||||
| 74.10 | 75.10 | 1.00 | 0.41 | 138.00 | 0.03 | 0.43 | 1.52 | |
| 90.10 | 93.90 | 3.80 | 0.18 | 51.95 | 0.01 | 0.00 | 0.01 | |
| JCX-15 | No Significant Results | |||||||
| JCX-14 | Hole lost before hitting target depth | |||||||
| JCX-13 | Hole lost before hitting target depth | |||||||
| JCX-12 | No Significant Results | |||||||
| JCX-11 | ||||||||
| 2.00 | 231.20 | 244.00 | 12.80 | 0.08 | 31.23 | 0.01 | 0.01 | 0.02 |
| including | 238.60 | 242.00 | 3.40 | 0.19 | 77.06 | 0.02 | 0.04 | 0.06 |
| JCX-10 | Hole lost before hitting target depth | |||||||
| JCX-09 | ||||||||
| 85.70 | 96.50 | 10.80 | 0.15 | 165.38 | 0.01 | 0.06 | 0.07 | |
| including | 93.00 | 94.00 | 1.00 | 0.73 | 1,050.00 | 0.07 | 0.18 | 0.24 |
| 116.00 | 121.40 | 5.40 | 0.13 | 295.63 | 0.03 | 0.11 | 0.33 | |
| including | 118.70 | 119.70 | 1.00 | 0.63 | 1,500.00 | 0.13 | 0.53 | 1.63 |
| JCX-08 | Hole lost before hitting target depth | |||||||
| JCX-07 | ||||||||
| 157.70 | 167.65 | 9.95 | 0.24 | 159.54 | 0.02 | 0.10 | 0.12 | |
| including | 159.35 | 165.45 | 6.10 | 0.34 | 230.38 | 0.03 | 0.14 | 0.15 |
| JCX-06 | Hole lost before hitting target depth | |||||||
| INTERVAL | 114.00 | 116.00 | 2.00 | 0.13 | 49.00 | 0.01 | 0.09 | 0.12 |
| 120.00 | 122.00 | 2.00 | 0.03 | 31.00 | 0.00 | 0.00 | 0.00 | |
| JCX-05 | 74.00 | 76.35 | 2.35 | 0.10 | 125.64 | 0.02 | 0.18 | 0.50 |
| JCX-04 | 128.10 | 133.00 | 5.90 | 0.22 | 59.65 | 0.01 | 0.03 | 0.16 |
| 128.10 | 129.75 | 1.65 | 0.21 | 108.00 | 0.01 | 0.02 | 0.12 | |
| JCX-03 | 110.40 | 112.50 | 2.10 | 0.25 | 132.62 | 0.13 | 1.04 | 2.79 |
| 115.50 | 116.40 | 0.90 | 0.93 | 123.89 | 0.00 | 0.10 | 0.32 | |
| JCX-02 | 60.65 | 61.95 | 1.30 | 0.19 | 86.00 | 0.00 | 0.01 | 0.03 |
| 103.70 | 104.75 | 1.05 | 0.10 | 42.00 | 0.02 | 0.02 | 0.08 | |
| JCX-01 | 63.30 | 69.25 | 5.95 | 0.27 | 61.08 | 0.02 | 0.52 | 1.31 |
This first phase drilling program tested the EL Carmen and La Salvadora zones that are separated by approximately 700 m along a principle northwest - southeast trending structure. The EL Carmen zone appears to be the best mineralized area based upon the limited amount of drilling conducted to date. Within the EL Carmen area there are at least two cross-cutting structures named Ano Nuevo and El Caballo both trending northeast – southwest. These two structures have returned very high grade assays. Future drilling programs will definitely follow up along these structures as well as both the EL Carmen and La Salvadora zones.
During the drilling program, our geologist encountered indications of potassic alteration within veinlets in some of the recovered drill core. Subsequent field reconnaissance and property scale mapping and sampling have outlined certain areas within the project that have alteration patterns including potassic, phyllic, argillic and propyllitic alteration, indicative of potential porphyry Cu-Au system that may exist within the property boundaries. Management stresses that the work done to date is very limited and that the alteration patterns encountered merely suggest that this porphyry style mineralizing system could be present on the property. Considerably more exploration work will be needed to verify the existence of a Cu-Au porphyry system within the property.
"We are very happy to have completed a successful first phase of exploration at Jocuixtita encountering very promising grades over significant widths within the epithermal mineralized structures tested during drilling," states Mr. Ralph Shearing, President and CEO of the Company, "and discovering the porphyry style alteration patterns is an added bonus. We look forward to initiating a second phase of drilling on the epithermal targets as well as conducting more follow-up exploration work on the porphyry target as soon as funding allows."
About Soho Resources Corp.
Soho Resources Corp. is an exploration and development company strategically focused on gold, silver and base metals in the prolific Sierra Madre Mineral Belt of Mexico. The Company holds 99% of the outstanding shares of its Mexican subsidiary company that maintains 100% ownership in 9,081 hectare Tahuehueto Property, an advanced stage gold and base metal exploration and development project.
Soho also holds an option to purchase 100% interest in the 4,103 hectare Jocuixtita Silver Project where the company recently completed a 1st phase drilling program with promising results and is planning follow-up exploration programs.
At its flagship Tahuehueto Project in Durango State, Mexico the Company has embarked on a program of pre-feasibility data collection. Past exploration efforts in Tahuehueto lead to the delivery, on October 4, 2010, of a Preliminary Economic Assessment ("PEA") completed by Snowden Mining Industry Consultants Inc. Key findings from the report included:
| Summary of PEA Estimates US$ | |
| Net cash flow | 184.2 million |
| Net present value (NPV) 5% discount | 109.6 million |
| Internal rate of return % | 31% |
| Payback period | 27 months |
| Mine life | 11 years |
| Maximum processing rate (per/annum) | 1,000,000 tonnes |
| Capital and start-up costs | 89.1 million |
| Note: Calculations based on a conservative 3 year rolling average of metal prices at the end of August 2010 - Currency US$ Gold: 965.81, Silver: 15.38, Copper: 2.92, Lead: 0.95, Zinc: 0.88 | |
The Tahuehueto Project is a classic epithermal system hosting multiple structures traced for up to six kilometers of strike length. Considerable upside exploration potential remains on the existing explored resource structures both down dip and along strike, as well as on numerous other unexplored mineralized structures known to occur within the property.
Qualified Persons
This press release was prepared under the supervision and review of Ralph Shearing, President and CEO of Soho Resources Corp., a Licensed Geologist, and Qualified Person as defined by NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
(signed) "Ralph Shearing"
Ralph Shearing, Chief Executive Officer
"Neither the 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."
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.